Cuts Across the Board at CC

The company is in a time of transition; it has been spinning off some broadcast assets and also selling to a private equity group.
Author:
Publish date:

Clear Channel’s revenue situation has come in for a lot of attention this week.

The company is in a time of transition; it has been spinning off some broadcast assets and also selling to a private equity group.

Investors have been speculating in recent days that the buyout may collapse under concerns that the price was too high in the current economic environment.

Meanwhile the San Antonio Business Journal reports Radio President/CEO John Hogan last week ordered managers across the division to cut spending and cease hiring because of an unexpected “revenue shortfall” in Q1.

Related