{"id":4244,"date":"2012-09-18T20:27:04","date_gmt":"2012-09-19T00:27:04","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=4244"},"modified":"2012-12-20T23:18:45","modified_gmt":"2012-12-21T04:18:45","slug":"clear-channel-gabriel","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2012\/09\/18\/clear-channel-gabriel\/","title":{"rendered":"Clear Channel Communications"},"content":{"rendered":"
by [Gabriel Sansone]<\/pre>\n
\"\"<\/a>
Clear Channel Communications Logo [1]<\/a><\/p><\/div>Who is Clear Channel?<\/strong><\/p>\n
<\/strong>Clear Channel Communications<\/a> is a global entertainment and media company from San Antonio, Texas, that specializes in digital and radio platforms, as well as outdoor advertising. Clear Channel\u2019s radio division, Clear Channel Media and Entertainment, reaches 239 million monthly listeners in the United States, giving it the largest reach of any television or radio outlet in the country.[2]<\/a>\u00a0Clear Channel Media and Entertainment has holdings in 150 cities and owns 850 radio stations,[3]<\/a> which can be heard via AM\/FM transmission, Sirius\/XM<\/a> satellite radio, HD digital radio, the Internet, mobile applications on smartphones and iPads, and navigation systems from Garmin<\/a> and TomTom<\/a>. Other properties of Clear Channel Media and Entertainment include Premiere Radio Networks<\/a>, the number one radio network in the country with 90 radio programs in syndication, and Katz Media Group<\/a>, the leading media representation company in the U.S., with over 500 television and 4,000 radio stations.[2]<\/a> Clear Channel Media and Entertainment also owns iHeartRadio<\/a>, a free digital radio service that allows users to listen to more than 1,500 Live Stations.[2]<\/a> Clear Channel Media and Entertainment is run by Chairman and CEO John Hogan, who graduated from Lake Forest College in 1979.[4]<\/a><\/p>\n
Clear Channel’s History<\/strong><\/p>\n
Clear Channel Communications was founded in 1972 by Lowry Mays and Red McCombs as the San Antonio Broadcasting Company, and by 1984 Clear Channel had six AM and six FM stations in seven different markets. Clear Channel first entered the television business in 1988, and by 1995 was in control of 43 radio stations and 16 television stations in 32 different markets. With the passage of the Telecommunications Act of 1996, the company acquired 49 new radio stations that covered 20 markets. In 1997, Clear Channel acquired Eller Media Company, helping it to become a leader in outdoor advertising. By 1999, Clear Channel was ranked by The Wall Street Journal<\/a> as the fifth best-performing stock of the 1990s, and today, under the leadership of CEO Bob Pittman, Clear Channel continues to be one of the leaders in both the entertainment and advertising industries.[5]<\/a><\/p>\n
What’s Clear Channel Doing Today?\u00a0<\/strong><\/p>\n
September<\/strong><\/p>\n
<\/strong>On September 27th<\/sup>, Clear Channel announced that it had struck a deal with Glassnote Entertainment Group<\/a>\u00a0to pay sound recording performance royalties to artists signed to the Glassnote record label, whether their songs are played via digital media or over the air.[6]<\/a>\u00a0The revolutionary deal, similar to one Clear Channel<\/p>\n
\"\"<\/a>
Glassnote Entertainment Group Logo [8]<\/a><\/p><\/div>forged with the Big Machine Label Group<\/a> in June, allows the label to receive a (undisclosed) percentage of Clear Channel\u2019s digital and terrestrial advertising revenue, as opposed to just receiving revenue on a per-play basis.[7]<\/a> Clear Channel CEO Bob Pittman released a statement to the press, saying that the deal not only allows for Glassnote Entertainment Group artists to participate in Clear Channel\u2019s radio revenues, but \u201cit also creates a vibrant new digital radio business model that we believe will provide more money for the artists and the labels and more digital choices for the consumer.”[7]<\/a> Popular Glassnote artists that will benefit from this deal include Mumford and Sons<\/a>, Childish Gambino<\/a>, and Phoenix<\/a>.<\/p>\n
October<\/strong><\/p>\n
On October 25th<\/sup>, Clear Channel announced that the company successfully completed a private debt exchange of $1,999, 815,000 for new notes that are worth the same principal amount but due in 2019.[9]<\/a> As Clear Channel is currently in almost $20 billion in debt,[10]<\/a> this debt exchange is a step in the right direction for providing the company with \u201cgreater flexibility to manage our debt maturities in the future,\u201d says company Executive Vice President and Chief Financial Officer Tom Casey.[9]<\/a> The offering was reportedly highly oversubscribed, which shows that debtholders are prepared to allow Clear Channel more years to repay some of its \u00a0debt.[11]<\/a><\/p>\n
Throughout the week of October 27th<\/sup>, Clear Channel dismissed dozens of local radio D.J.\u2019s across the country in an effort to revamp their 600 U.S. regional stations. In a company statement, spokeswoman Wendy Goldberg said the firings came about because Clear Channel rethought their regional market strategy and \u201creinvented our operations in those markets in a way that will let us\u2026succeed using all of Clear Channel\u2019s resources, scale and talent.”\u00a0However, the layoffs\u00a0proved controversial, as many media reform groups believe that Clear Channel is sacrificing radio’s integrity by replacing locally produced programs with less costly shows that are syndicated nationally.[10]<\/a><\/p>\n
On October 29th<\/sup>, Clear Channel announced that it had stuck a deal with another record label, Naxos<\/a>. Naxos is America\u2019s largest digital distributor of independent<\/p>\n
\"\"<\/a>
Naxos Logo [14]<\/a><\/p><\/div>classical music, with over 30,000 albums from various classical labels, including 6,500 on its own labels.[12]<\/a>\u00a0The deal is different from Clear Channel\u2019s previous deals with Big Machine and Glassnote, as it only permits Clear Channel to pay Naxos for digital, not terrestrial, radio play.[13]<\/a> The agreement is representative of Clear Channel\u2019s current desire to continue to help radio permeate the digital world, and as part of the deal Naxos will assist with iHeartRadio\u2019s digital classical station, \u201cClassica.”[12]<\/a><\/p>\n
November<\/strong><\/p>\n
<\/strong>On November 2nd<\/sup>, Clear Channel released their quarterly earnings report for the third quarter of 2012, which ended on September 30th<\/sup> of 2012. Clear Channel Media and Entertainment revenues experienced a 1%, $7 million dollar increase in comparison to the third quarter of 2011. This increase is due in large part to a 3% growth in radio revenues, which occurred as a result of increased national advertising, the growing popularity of digital radio service iHeartRadio, and the iHeartRadio Music Festival<\/a>.[15]<\/a><\/p>\n
On November 20th<\/sup>, Clear Channel announced that its popular digital radio service, iHeartRadio<\/a>, has been downloaded more than 135 million times and has over 20<\/p>\n
\"\"<\/a>
iHeartRadio Logo [17]<\/a><\/p><\/div>million registered users. These numbers are particularly impressive, considering that iHeartRadio was launched a mere 13 months ago. In a company statement, Clear Channel Media and Entertainment Chairman\/CEO John Hogan said \u201ciHeartRadio has reinvented the digital radio experience and is a key element of how Clear Channel continues to reshape the media and entertainment industry.”[16]<\/a><\/p>\n
 <\/p>\n
On November 29th<\/sup>, it was announced that innovative social commerce web site Lockerz<\/a> made an agreement with iHeartRadio. Lockerz is a website on which users can discover the latest fashion trends and top brands, receive points (called PTZ) for sharing images and videos from the web, and use their PTZ for big discounts on fashion and electronic products.[18]<\/a>\u00a0Now, iHeartRadio\u2019s 1,500 live and user-created custom stations are available on Lockerz, and members can earn PTZ for sharing and adding their favorite music and radio stations. Clear Channel hopes the agreement will help iHeartRadio to continue to grow in popularity. \u201cLockerz has built an incredibly passionate and social user base and is a great distribution platform for us,\u201d said Brian Lakamp, President of Digital for Clear Channel Media and Entertainment.[19]<\/a><\/p>\n
What’s Next for Clear Channel?\u00a0<\/strong><\/p>\n
<\/strong> Clear Channel is helping produce the 12-12-12<\/a> concert, a show that will take place in New York City on December 12, 2012, with all proceeds from ticket purchases going to the Robin Hood<\/a><\/p>\n
\"\"<\/a>
Poster for the 12-12-12 concert, featuring some of the notable artists who will be playing at the show [20]<\/a><\/p><\/div>Relief Fund<\/a> to assist the victims of Hurricane Sandy. The concert has already secured distribution to over one billion people via various mediums to maximize awareness and relief efforts, and in a joint statement, event producers James Dolan (Chairman of The Madison Square Garden Company<\/a>), John Sykes (President of Clear Channel Entertainment Enterprises) and Harvey Weinstein (Co-Founder and Chairman of The Weinstein Company<\/a>) said the concert and its media distributors \u201cwill enable us to create a tremendous and unprecedented fundraising effort on a global scale to benefit the victims of this devastating storm.\u201d[21]<\/a><\/p>\n
Tickets to the show<\/a> are currently available on Ticketmaster<\/a><\/p>\n
Because of its current debt situation, Clear Channel could be experiencing some financial turmoil in the future. \u00a0According to a Moody\u2019s<\/a> report released during the week of December 5th<\/sup>, while Clear Channel should be able to manage the amount of debt they have due through 2015, they could very well be unprepared to deal with the $10 billion of debt that will be due in 2016. Moody\u2019s senior analyst Scott Van den Bosch writes that “the company\u2019s ability to avoid restructuring will be challenging as debt levels will exceed our expected asset value. The possibility of a restructuring or a distressed exchange remains high\u2026in our downside scenario the company is likely to face a restructuring of its balance sheet in excess of $16 billion in debt.” It is possible that Clear Channel will be able to avoid the restructuring, but it is going to \u201cdepend on the receptivity of the financial markets and moderate underlying interest rates.\u201d So, in the future, Clear Channel will be very sensitive to changes in the economy.[22]<\/a><\/p>\n
Contact Clear Channel<\/strong><\/p>\n
<\/strong>Wish to contact Clear Channel Communications?<\/p>\n
Web: http:\/\/www.clearchannel.com<\/a><\/p>\n
Mail:\u00a0200 E. Basse Rd. San Antonio, TX, 78209.<\/p>\n
Phone: (210) – 822 – 2828<\/p>\n
Sources<\/strong><\/p>\n
1.http:\/\/www.mxdwn.com\/wp-content\/uploads\/2011\/11\/clear_channel-logo.gif<\/a><\/p>\n
2.http:\/\/www.clearchannel.com\/MediaAndEntertainment\/<\/a><\/p>\n
3.http:\/\/www.cjr.org\/resources\/?c=clearchannel<\/a><\/p>\n
4.http:\/\/investing.businessweek.com\/research\/stocks\/people\/person.asp?personId=3155827&ticker=CCMO<\/a><\/p>\n
5.http:\/\/www.clearchannel.com\/Corporate\/PressRelease.aspx?PressReleaseID=1166&p=hidden<\/a><\/p>\n
6.http:\/\/www.radioinfo.com\/tag\/glassnote-entertainment-group\/<\/a><\/p>\n
7.http:\/\/www.hollywoodreporter.com\/news\/clear-channel-glassnote-deal-royalties-radio-374870<\/a><\/p>\n
8.http:\/\/api.ning.com\/files\/hlQ-vCRmc7HLq7s2h095TW2ASni-7sqYnVv*HTSsNnP*DxoNt4pidwK7SO6S–ofSU6ONB9KxxSHctjKIrDFxMgiYnJq87GE\/GlassnoteLogo.jpg<\/a><\/p>\n
9.http:\/\/online.wsj.com\/article\/PR-CO-20121025-913636.html?mod=crnews<\/a><\/p>\n
10.http:\/\/mediadecoder.blogs.nytimes.com\/2011\/10\/27\/clear-channel-cuts-d-j-s-across-the-country\/<\/a><\/p>\n
11.http:\/\/blogs.wsj.com\/deals\/2012\/10\/25\/clear-channels-well-received-debt-exchange-creates-flexibility\/?KEYWORDS=Clear+Channel<\/a><\/p>\n
12.http:\/\/www.radioink.com\/article.asp?id=2562695&spid=24698<\/a><\/p>\n
13.http:\/\/mediadecoder.blogs.nytimes.com\/2012\/10\/29\/clear-channel-goes-classical-sort-of\/<\/a><\/p>\n
14.http:\/\/www.europadisc.co.uk\/images\/additional\/Naxos%20Logo%20Square%20200×200.jpg<\/a><\/p>\n
15.http:\/\/www.ccmediaholdings.com\/documents\/Quarterly\/CC-Media-Holdings-Q3-2012-Earnings-Release.pdf<\/a><\/p>\n
16.http:\/\/www.fmqb.com\/article.asp?id=2577966<\/a><\/p>\n
17.http:\/\/images.wikia.com\/logopedia\/images\/6\/68\/Iheart_radio_logo.jpg<\/a><\/p>\n
18.http:\/\/lockerz.com\/101<\/a><\/p>\n
19.http:\/\/www.prnewswire.com\/news-releases\/lockerz-announces-innovative-agreement-with-iheartradio-181421021.html<\/a><\/p>\n
20.http:\/\/www.msgsoundcheck.com\/content\/dam\/msgsoundcheck\/featuredArticles\/600x400_121212_soundcheck.jpg<\/a><\/p>\n
21.http:\/\/www.clearchannel.com\/MediaAndEntertainment\/PressRelease.aspx?PressReleaseID=3162<\/a><\/p>\n
22.http:\/\/blogs.barrons.com\/incomeinvesting\/2012\/12\/05\/moodys-10b-of-debt-due-in-2016-could-trip-up-clear-channel\/?mod=BOL_hpp_blog_ii\u00a0<\/a><\/p>\n
 <\/p>\n
 <\/p>\n","protected":false},"excerpt":{"rendered":"
by [Gabriel Sansone] Who is Clear Channel? Clear Channel Communications is a global entertainment and media company from San Antonio, Texas, that specializes in digital and radio platforms, as well as outdoor advertising. Clear Channel\u2019s radio division, Clear Channel Media … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":146,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[26,151],"tags":[357,154,656,655,327,328,331,654,657,658,4584,659],"_links":{"self":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/4244"}],"collection":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/users\/146"}],"replies":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/comments?post=4244"}],"version-history":[{"count":27,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/4244\/revisions"}],"predecessor-version":[{"id":5484,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/4244\/revisions\/5484"}],"wp:attachment":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/media?parent=4244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/categories?post=4244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/tags?post=4244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}