DING DING DING - Wall Street Bell Rings Very Bad News For Rush Limbaugh & Clear Channel

[babylonsister]

http://www.dailykos.com/story/2013/05/03/1206587/-DING-DING-DING-Wall-Street-Bell-Rings-Bad-News-For-Limbaugh-s-Parent-Company-Clear-Channel?showAll=yes

Fri May 03, 2013 at 03:51 AM PDT
DING DING DING - Wall Street Bell Rings Very Bad News For Rush Limbaugh & Clear Channel

by Leslie Salzillo


Clear Channel, the parent company of nationally boycotted radio host, Rush Limbaugh, is feeling the Bain – I mean the pain. Yesterday after the stock market closed, the media giant released its 1st quarter earnings report, showing a tremendous loss.

Wall Street Journal, May 3, 2012: CC Clear Channel …reported a loss of $203 million, versus a year-ago loss of $143.6 million. (The Limbaugh boycotts began last year in the first quarter)

Revenue fell 1.3% to $1.34 billion. Revenue from media and entertainment, the company's largest segment, was down 2.2%, Operating expenses dropped 3.5%.

Clear Channel Media, is the vehicle used by private-equity firms Bain Capital LLC.

*To see full Wall Street Report: http://www.google.com/... and scroll down to: News for Clear Channel: CC Media, Clear Channel Outdoor See 1st-Quarter Losses Widen Sharply

This is very bad news for Clear Channel CEO, Bob Pitman, and President, John Sykes. Surely while frolicking among their good will charities, taking in high salaries, and handing out massive Clear Channel employee layoffs, they saw this coming. Yet they allowed blatant racism, sexism, gay-hatred and bigotry to air on their 600 radio stations. And I wonder if the hundreds of artists like Justin Timerberlake, Elton John, Pink, Taylor Swift, Greeday, Band Perry... know that through Limgbauh's 'all American' sister company, iheart radio/iheart Festivals, they are indirectly helping to support Limbaugh's hate and lies? I would bet not, and I think they know.

Pittman and Sykes would have to be living in another world to miss the massive public outrage against Rush Limbaugh’s show. Especially after Limbaugh called then unknown, college student, Sandra Fluke, a 'slut' and 'prostitute' when she was advocating for insurance-paid birth control.

Since Clear Channel and the FCC, have opted to ignore the general public, as well as Limbaugh's hate speech, Americans decided to take matters into their own hands, using their greatest weapon – the almighty consumer dollar. They would go after Limbaugh and Clear Channel’s main lifeline. The buying consumers went after the sponsors.

Petitions were started by single citizens, as well as large activist organizations. Boycott groups evolved all over Facebook and Rush Limbaugh sponsor database, StopRush, was created for the average person to find contact information and air dates of sponsors. Even a ThinkContext browser app/extension is available to see sponsoring companies while searching the internet. It's massive. And it has much to do with the hard work of radio monitors and reporters who track ads on Rush Limbaugh shows throughout the country. Women's rights organization, UniteWomen.org, Daily Kos, Being Liberal, and Media Mattershave fully supported and helped the movement.

First about 100 sponsors left after the Sandra Fluke attack. Then a few more left. Some like Angie’s List and Legal Zoom went back to Limbaugh's show probably thinking the public outcry would die down and people would move on. Instead, the national movement grew and gained in momentum. Everyday citizens as well as activists continue to join Facebook groups like Boycott-Rush-Limbaughs-Sponsors-to-SHUT-HIM-DOWN (now has 54,000+ followers) and Flush Rush. Consumers are taking time to tell sponsors they will not buy from a company that supports Rush Limbaugh.

Sponsors reacted. Over 2,600 companies have pulled their ads due to the boycott. Hundreds more silently have slipped out. Now we see big losses for Clear Channel. Cumulus Radio has already admitted to losing millions due to the Limbaugh boycotts. It's doubtful Clear Channel will do the same, but the proof is in the pudding, I mean earnings.

Not only is it clear to Clear Channel and Rush Limbaugh, that the public means business, they are finding out the public IS business.

[randome]

1. Another dizzy, woozy canary in the coal mine.

The tide is turning.

[fitman]

9. Old geezers listen to AM talk radio

which is Clear Channels bread and butter and they are dying off.

[roguevalley]

14. so do the young. i work in a hardware store and see it evert day.

[BlueStreak]

18. The Fluke thing started an avalanche

Before that time, most advertisers probably weren't even aware of the specific placements of their ads. I bet that few of them were specifically trying to place on Limbaugh's show. It is just that he was on so many hours in so many markets on the largest stations, that is where the ads ended up. The media buyers liked it because their commissions are a function of billings and you get more billings for ads going to bigger audiences.

With the Fluke think, a lot of advertisers decided to dig into their spend. Not only did they not want to be associated with hate speech, they probably also determined this was a big waste of money, for exactly the reason you stated. Limbaugh's audience is mainly scared, elderly people and low income hillbillies who think "them" is the reason for all their problems. Neither of these demographics is very attractive.

Yes, there are a few country club wives that listen, I suppose, and maybe the Lexus dealer would see that as worthwhile. But mostly the people listening to that moron are themselves morons at the lowest end of the economic spectrum.

Some interesting reading that I missed from last year:

http://www.dailykos.com/story/2012/07/11/1108524/-Rush-Limbaugh-s-phony-empire-exposed

[maddiemom]

23. I'm an "old geezer." now in my late sixties. I'm also a child of the 1960s.

A weird but common combination. As with most of my generation, I knew many young Republican reactionaries back in the day. I also saw a number of formerly liberal friends turn conservative after joining the corporate world. My ex husband's support of Reagan certainly finished off our marriage. I'm still liberal, but continually disillusioned as to where to channel it. Working as a local chairman during the last Obama campaign concluded the last remnants of any idealism I might of had once he was back in office.

[Spitfire of ATJ]

33. Never understood why Liberals didn't support Kucinich more.

[maddiemom]

51. I'm a major admirer of Kucinich. Party TPTB and the media closed most

possibilities for giving him a shot. Considering his shut out in Democratic debates as compared to some of the lunatics the Republicans let into theirs, is one reason the Democratic party leaves me so frustrated. I'm not sure where to turn, since alternate parties are pretty much rendered ineffectual. I'd like to beat Harry Reid senseless, but any remark I post to that effect gets ME beaten senseless by his defenders.

[Spitfire of ATJ]

53. A blast from the past...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x1366786

[mdbl]

56. because...

Because they were weenies who were afraid of idiots like Mush Limpballs berating them on the radio. A lot of good it did them to keep quiet huh?

[Spitfire of ATJ]

58. Oh,...you mean these types...

[Rozlee]

52. My husband was just the opposite.

He was raised as an out and out bigot. There wasn't anybody he didn't hate. He was dismayed when he was stationed in Okinawa in his youth, having been told about how awful Japanese people were by his dad, a WWII vet. Instead, he fell deeply in love with a Japanese woman in the 50s at a time when interracial marriages were practically the kiss of death in the military and he was an ambitious young officer. He was devastated when she died of leukemia in 1976, but married me, a Hispanic woman in 1989. His parents would be spinning in their graves if they knew their son was a staunch Democrat who'd had two women of two different races/nationalities as wives and had voted for a black man for president.

[maddiemom]

64. Your husband sounds like the kind of man to be much admired.

He was able to allow his own life experiences to overcome the bigotry with which he was raised. As a teacher for many years, I'm constantly infuriated by those who are so averse to "critical thinking." They seem to considerate it "brainwashing," when, in fact, it is the complete opposite.

[Rozlee]

67. The rest of his family are still total douche bags.

How he rose above all that makes me love him all the more.

[Spitfire of ATJ]

32. AM radio is long range so it's good for extended commutes and remote areas.

[defacto7]

60. Boy, does that idea blow up in your face.

By thinking it' s the old geezers that will stop the flow of talk radio you promote ignorance of the youths that are being indoctrinated by other RW youths and middle aged RW parents. The more you ignore the up and coming and feel secure in the idea that the old are fixing the problem through death, the more it will come back to bite you.

It's about education. That is what will secure the future, or the lack of education will destroy it. You'd best reorganize your opinion.

[kelliekat44]

25. "The people united will never be defeated!"

This is great news, proving that it may not happen overnight but if ordinary people stick together for the right reasons they will overcome. The past election the RW spent and lost millions. I believe our patience can outlast their profit. If people around the globe continue to fight their oligarchies there will be few places to hide their unearned trillions. We must keep b anks in our focus as well as media outlets. We have only begun to fight!!!!

[randome]

26. Amen!

[Fumesucker]

2. K&R

[Sekhmets Daughter]

3. "they are finding out the public IS business."

And the public needs to take its business more seriously and exercise its influence in many more areas. Thanks for a great post.

[Baitball Blogger]

4. Ethical practices IS good business.

[Sekhmets Daughter]

5. Yep... but for too long we've allowed them to get away with being less than ethical.

[Baitball Blogger]

27. It was a whole business mindset.

Those who were conscious of the rules were considered to have less of a chance of success than those who skirted them.

And there was no way to hold them accountable for their actions if they brought in a profit. The practice went on for so long that they now are given golden parachutes even when the company is going down the tubes!

[Sekhmets Daughter]

28. Incredible isn't it?

I think of Ken Lewis...head of B of A earning 1,800 times what the average teller was earning, all the while guiding that bank onto the shoals.

[randome]

6. Gay rights is good business, too. A lot of companies realize that now.

Pretty soon (not soon enough) it will reach the point where Conservative positions are considered BAD for business.

[SoCalDem]

7. Propaganda sometimes costs money

The Washington Times has NEVER made a profit..and truth-be-told, Limbaugh et al need not make profit either. They are fulfilling a need of the right wingers. They propagate the rumors, lies & paranoia of the republican party.

It costs money, but it's worth every penny to them.

[Spitfire of ATJ]

36. Bingo. When Limbaugh first started his show was offered for FREE...

The way it was pitched to station managers was that here was a show that will fill three hours of air time with a built in audience and local sponsors will be lining up to buy air time and it will cost you NOTHING.

This was also back in the days when political talk wasn't considered to be "cool" so he was able to spread far and wide under the radar. Next thing you know he's bragging about how many listeners he has and radio stations are tripping over each other to be the one to carry his show.

Media consolidation and robo-music killed off the classic liberal DJ and the Right Wing had the NERVE to claim Limbaugh's success was PROOF there was no market for Liberal talk because the country had swung to the right.

It didn't.

The MEDIA did, systematically, as planned.

[OnyxCollie]

70. Bill Clinton put the stake through the heart with the Telecommunication Deregulation Act.

Clear Channel bought the station I worked for, as well as two others, right after it went into law. Clear Channel buried my station with debt (to keep the station that had Howard Stern) and drove it into the ground. It was sold and changed format three years later. My career in radio ended then.

Blame Bill Clinton for the current RW hate radio domination.

[Spitfire of ATJ]

76. Clinton used to brag that he could raise as much corporate money as Republicans.

[freshwest]

37. +1,000. The payback is well worth it to them. And they're still on AFN.

They would be out of business for being such a bad product, by conventional thinking. But that's not what it's about, you nailed it.

[n2doc]

8. ":And I wonder if the hundreds of artists like ... Elton John,.."

Uh, Elton sang at Rush's last wedding. Anything for a buck, that one.
http://www.people.com/people/article/0,,20391620,00.html

[fitman]

11. Rush has no problem with gay marriage

He just won't say it to his audience.
I've read numerous cases where people say they met Rush and he is totally different in real life and not as conservative as he is on air. It's an act for the rubes.

Rush is more fiscal conservative than social and I suspect Rush will come out one day in support of gay marriage

[marions ghost]

13. Fomenting hate

when in "real" life you are "not so bad."

Makes him even lower scum than someone who is so delusional they believe it.

[Ikonoklast]

22. (Godwin Alert)

And Hitler loved little children and dogs.

He was still a fucking monster.

[Jamaal510]

38. Exactly what I was thinking, too.

I see Rush and most of the other prominent Republicans as con-artists. I say this because judging by the amount of money they get paid, there's no way that any of them would lead boring-enough lives to care so much about what others do in their bedrooms. They just talk like that to get rank-and-file wingnuts to essentially vote for more tax breaks for them.
The only Republican I can think of who may possibly be a true believer in what he touts is Santorum, where he compared homosexuality to bestiality and waged a war on porn.

[Downtown Hound]

40. "I've read numerous cases where people say they met Rush and he is totally different in real life

and not as conservative as he is on air. It's an act for the rubes."

That makes him an even bigger scumbag. It shows that he's fully aware of the damage he's doing and doesn't care because it makes him money.

[truebluegreen]

49. +1000 n/t

[vinny9698]

24. But Elton donated all the moneyto gay causes.

He did not even deduct his costs from the amount.

[truebluegreen]

50. Bravo for him...

but on the other hand, how many people are aware of that versus how many know he played?

Even the appearance of condoning that scumbucket's behavior is too much.

[Half-Century Man]

10. Lesson Alert

The efforts to crush the roach Limbaugh (no offence intended to the remains of joints and the nuke resistant insects) have proven to be successful so far. I urge us all to push the sword through, kill this idiots career of hate. And REMEMBER; what and how we did this.
While the less than rich can survive quite well without the parasitic lifeforms that are the super rich; the super rich can not survive without us. When we boycott their sources income they panic, they rely on a steady influx of money; disrupt that influx and the mecinisms they have in place to harvest our money can bleed them out fairly quickly.

[caledesi]

17. Who listens to his hate? Losers! nt

[LittleGirl]

19. 2 of my siblings - sadly

They were listening to that gas bag every day they could. We don't communicate anymore so I don't know. The two of them quit talking or writing me when Obama was re-elected. I don't miss them.

[freshwest]

39. Same here. Except now it's Beck, which is worse.

They are lost.

[LittleGirl]

41. One of my cousins said she liked Beck

when he was still on Fox and I told her "you know he makes up shit, right?" She had no idea. I said "don't listen to that stuff. He's an entertainer and he's only saying those things to make money - think Goldline". I don't know if she still does either.

[freshwest]

45. Here's some of my unfortunate experiences with this:

Last edited Fri May 3, 2013, 03:11 PM - Edit history (1)

Called teabag relation yesterday although I didn't expect to do much good in Glennbeckistan.

Sounded the most rational I'd heard in years after the absolute hysteria I'd endured just before the election. It had been building up since 2008 and got worse from 2010 on. This is the post of what happened in November:

http://www.democraticunderground.com/10021449535#post15

So now I call her, not expecting much at all. Her mood was completely changed, she was relaxed and happy talking about how they are going to go on Medicare and all of that.

I deliberately hadn't called her for over a month. She didn't feel any need to talk about Obama at all this time. What happened, I didn't dare ask.

http://www.democraticunderground.com/1251267190#post17

This is some of the build up to that state of insanity she lives in:

http://www.democraticunderground.com/1251145022#post50

Glad to see a little sanity in your cousin. I posted an article a long time back where Beck called himself an entertainer, specifically 'a rodeo clown' and that anyone who believed any of what he said was insane.

[sheshe2]

55. Oh my!

So sorry, freshwest!

[freshwest]

61. It would be funny, except... I try to keep a sense of humor about it, though. Someday, maybe...

[sheshe2]

63. ~~~

[tpsbmam]

35. I've been saying for a long time now, what we need is a general global strike....

This is a global attack on the 99% and the response needs to be global. A "strike" here can take many forms.....refusal to work in their sweatshops starting on an agreed upon day. Boy, that'd get their attention! But it's hard to get people whose lives are dependent on the pennies the plutocrats deign to pay the 99% and who fear losing those sweatshop jobs. Easier is massive boycotts of their goods. They rely on us to buy the shit they put out for us -- their incomes depend on it. So we have global boycotts -- much easier to get people to enact and stick to.

We, the global 99%, need to recognize our power and start to exert it!

[TheCowsCameHome]

12. Rugged individualists, pulling themselves up by their bootstraps.

[Shankapotomus]

15. How can we keep up the heat?

Maybe we should expand our targets to anyone that does business or profits off of Clear Channel...not just advertisers.

[L0oniX]

16. Now if only we could do the same for congress.

Start with boycotting the military to get its cost down to something reasonable...

[Spitfire of ATJ]

34. They'd just do a hostile takeover.

[Beaverhausen]

20. Sadly, if anyone loses jobs it won't be the highly paid talent or executives

It will be the lower level workers who lose jobs.

[shenmue]

21. Heeheeheee

I'm happy.

[Vogon_Glory]

29. Music To My Ears

Music to my ears. Whenever I hear or see the phrase "Clear Channel," I think of the right-wing Bushies who muzzled the Dixie Chicks. It's nice to see the bad karma come whizzing back around for the corporation, but it's a shame that so little here-and-now bad cess won't splatter on the suits who made that decision.

[dem in texas]

30. Love it!

Just think, putting the spear through R. Limbaugh and Bain Capital all in one swoop. Gotta love it!

[corkhead]

31. Last year Clear Channel had the benefit of RMoney funneling his donated campaign dollars into it.

that well has dried up.

[Initech]

42. Hate - especially the shit spewed by Limbaugh - isn't selling the way it used to.

And I say good riddance. Get rid of CC's monopoly.

[Blue Owl]

43. A sweeter death knell there never was

Rush, the bell tolls for thee!

[egold2604]

44. All of the Above

[tofuandbeer]

46. I despise that lying man, and I'm glad to see him fall.

Brings a smile to my face.

[Marie Marie]

47. Hmmmm.. Sounds like the Free Market has spoken.

And it ain't buying his bullshit.

[life long demo]

48. I love it

More, More, More. Get Rush limpball out.

[maindawg]

54. so if CC dies ?

Reagon destroyed the modern American media. The law used to be that all media had to be locally owned so as to serve the local communities. Asshole tool RR deregulated' the industry so that his billionaire friends could buy up the entire system and squeeze thousands of indipendent small business people out. Install hate radio and we have the results, unfunded illegal wars, $4.00 a gallon gas, demonized poor people, crumbling infrastructure , privatized prisons [making crime pay], and much much more. RR was evil. He did more to destroy the fabric of our nation that the founders ever did to create that fabric. I fear we are headed for fascism and marshal law.

Limbau is a monster. I only hope history reveals that instead of covering it up.

[MrScorpio]

57. I truly wish that Clear Channel would go out of business

That company has singlehandedly destroyed the American radio industry.

[JEFF9K]

59. RARELY MENTIONED

It's rarely mentioned, but professional sports teams that allow their games to be broadcast on the stations that carry Rush and other lying hate-talkers are major enablers. They should also be targeted.

[Rest In Peace Repubs]

62. Next........

.....O'reilly who's a joke at best....Hannity ....idiota...Fox Entertainment/News...Beck...sucks in general......Rush Fox are a dying genre?!? Good f-Ing riddance to some stinky putrid rubbish.Guys and Girls of this ilk have poisoned the airways for far to long!!!!!!They need to move to Beck's city and die off?!!? Fucker's.......

[bravenak]

65. All I'd like to say to Rush Limbaugh is.....

Good day, sir.

[nightscanner59]

66. Casting my pearls...

before the swine level of vitriol much of my family thrives on, sadly enough, to try and wean them from the hatemongers such as Rush seems so futile for now. My own efforts to inform, instruct tend to fall on deaf, unbelieving ears, choosing to believe what is nationally broadcast in slick formats as the truth. Has anyone else noticed the tactics from the right wing commentors on other sites accuse us (the left many of the neocons call "libtards&quot of distorting the truth no matter the overwhelming factual evidence otherwise? The infowars bunch are really busy putting out a lot of misinformation just about everywhere, not just on right wing domains.
The climate change debacle will turn the most ugly on their fact-distorting soon... very soon. This summer, even... might be a super-record breaking scorcher. How willing the climate science deniers to hold fast to their misinformation once standing in the middle of another dust bowl ten years from now? The change may occur so fast that it will take tremendous effort to deny man's influence once it is so undeniably pronounced and so severe. What will dipshits like Limpbawl, the hannitary napkin and Beck say to them once their whole communities stand in the ruins? Time will tell for sure, the evidence is overwhelming that extreme weather events will get worse and worse with greenhouse effect.

[riversedge]

68. Great news.

[ReRe]

69. A great report card for the boycotters!

...but the semester isn't over until Rush and Clear Channel are in the trash bin.

[DFW]

71. And this gets reported on the day when the Dow scratches 15000

Double Trouble for National Hate Radio

[Ford_Prefect]

72. The Koch empire can still afford to prop up hate radio without much cost, so they will.

Like Fox news it has only one purpose. It was never about the cost of the programming. It has always been about filling the airwaves with, lies, racism, fear and hate.

[KharmaTrain]

73. Cheap Channel's Problems Are Far Deeper Than Rushbo...

He's just a boil on the butt of a company built on the corpses of a lot of careers and squandered talent. This company's led the charge, but wasn't alone...Cumulus is right behind...in trying to turn the public airwaves into a private plantation. They overspent on properties then gutted staffs to try to goose up the stock prices...then when the market crashed this company ended up holding a lot of worthless properties with little prospect of the market ever recovering.

Technology has been Cheap Channel's biggest enemy...they can't control it or buy it. Radio went from being one of the top three advertising mediums...behind television and newspapers...today it's fallen behind cable TV, satellite and internet radio...it's at the bottom of the advertising food chain. Revenues that were inflated (helped by the dot com boom of 2000) are a fraction of what they once were and most major advertisers avoid radio as their shrinking audiences are too old for their marketing. Overall the company's future looks bleak as last year's loss is added to other losses...at least 15 billion at last count.

Rushbo's got a guaranteed deal that has about 6 more years to run at at least $40 mil per year. He's always been a loss leader; drawing white males to dying AM stations but rarely being much of a financial success. It's a "play me" situation...as long as they're throwing the money at him, they might as well keep him on the air. Yep another "too big to fail"...but that may change.

The rise of new media makes hate radio less and less relevant every day and Cheap Channel's attempts to dominate and manipulate popular music has failed as well. The vultures are circling this corpse of a corporation...

[Vietnameravet]

74. Demographics

The listenership of these hate station always skewed old..At one time the audience of the local hate spewer in this market had an audience, 70% of which were over 65 and mostly male..Hardly the future thinking active buying group most advertisers want..

[The Wizard]

75. Doesn't matter

The wealthy elites pay to have the drug addled hate monger on the air. He's good at appealing to the uneducated, bigoted and fearful and getting them to vote against their own best interests.