Posted by Chuck Lunch on January 22, 2009 at 12:12:44:
This entire Clear Channel debacle can be traced back to the signing of the telecom bill, which effectively deregulated ownership in the radio industry. You can thank Bill Clinton for that. It was apparently political payback for some big campaign donors. At the time, Clinton said it would make things better for consumers.
Before that bill was signed, broadcasters were limited to 12-12-12 ownership, that's 12 AM, 12 FM and 12 TV.
The telecom bill spawned mega-broadcasters like Clear Channel. They and other companies enjoyed a gold rush. However, what goes up must come down and the current flattening of the radio business was the predictable end result.