Clear Channel Sale a ‘Significant Milestone’

The sale of Clear Channel is a “a significant milestone in the radio industry history,” said BIA Financial Network Vice President Mark Fratrik.
Also, the company’s retrenching by selling off stations “indicates a shift in the strategic thinking from that it can grow in value in all markets to now only in certain situations.” This selling of assets is similar to recent actions of CBS and ABC. “These companies continue to believe they can increase the value of some of their radio assets,” he said.