Clear Channel Posts Net Loss After Charge (sooo sorry to hear)

[cthrumatrix]

Clear Channel Posts Net Loss After Charge

1 hour, 48 minutes ago Business - Reuters



NEW YORK (Reuters) - Clear Channel Communications Inc. (NYSE:CCU - news), the nation's largest radio station chain, posted a quarterly net loss on Friday after a $4.9 billion asset-impairment charge.

snip

"We think Clear Channel's lack of revenue growth is representative of the struggles of the radio industry...," said Frederick Moran, an analyst at the Stanford Financial Group."


He said Clear Channel was likely to face an uphill battle in the first half of 2005 as it executes its strategy of cutting advertising air time and raising rates.

snip

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=3&u=/nm/20050225/bs_nm/media_clearchannel_earns_dc


It's called people are sick of RW propaganda.

[Deep13]

1. Per Nelson from the Simpsons:

"Ha-ha!"

Five billion here. Five billion there. Pretty soon you are talking about real money.

[murray hill farm]

3. Oh...poor clear channel...

Makes my day, though!!

[librechik]

2. 49% of the radio market is liberal

they should remember that--

in any case, they are trying a few liberal stations. Good luck and best wishes to this new endeavor!

[Nicholas D Wolfwood]

4. Awww

:cry: :nopity:

ROT IN HELL YOU TRAITOROUS BASTARDS!!! :nuke::nuke::nuke:

[coloradodem2005]

5. Good.

I hope they rot in hell for the philosophy that they have tried ramming down our throats.

[bluestateguy]

6. Funny

I might have cheered this a year ago, but now that Clear Channel owns a stake in the success of Air America I'm not so quick to root for Clear Channel's failure.

[Conservativesux]

7. Until it becomes "Air America Lite" with Alan Colmes. Oy Vey !

[zbdent]

8. Wonder how much is attributable to their hissy fit after

Stern came to his senses and said "You've got to get rid of Bush!"

(BTW, that was George, not a hirsute stripper)

[Gman]

9. Asset impairment charge???

What? Did they adjust the phonily inflated Good Will line on the balance sheet? Previously, CCU was saying they had $7 billion worth of "good will" as part of the total assets of the company. Throw in another $13 billion in what they call "Intangible Assets" and they have $20 billion in questionable assets of a total assets of $28 billion. That means they have hard assets of $8 billion. Compare that to $13 billion in liabilities and these guys are bankrupt.

[Maat]

10. You have a point, Gman.

n/t