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Response to Scuba (Original post)

Tue Nov 20, 2012, 04:24 PM

2. How do those bozo's afford it? What tree grows all that free money?

Recent CC news reports:

June, 2012

http://mediamatters.org/blog/2012/06/13/struggling-clear-channel-doubles-becks-pay-with/151456

"... Clear Channel, the conservative-friendly media behemoth with a soft spot for right-wing radio, just doubled Beck's deal to a reported $100 million, while the struggling company remains buried under an eleven-figure mountain of debt..."


Feb. 29, 2012

http://www.thedeal.com/content/private-equity/clear-channel-moves-to-address-debt-load.php

The largest U.S. radio group has also been seeking opportunities to reduce its debt load, which expanded greatly with its 2008 sale to Bain Capital LLC and Thomas H. Lee Partners LP.

Clear Channel has close to $20 billion in long-term debt. The San Antonio company faces particularly large payments in 2014 and 2016, with maturities of $2.87 billion and $12.25 billion, respectively.


After the attack on Sandra Fluke blew up in their fat faces, advertisers were leaving right-wing hate radio in droves.

It just makes you wonder. Maybe Rmoney was right. Corporations are people. People who like to spend money on "free speech." Somewhere, on some accountant's ledger, all these debts are magically transformed in to tax write-offs. That help offset profit gains that might otherwise have to be off-shored.







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Arrow 4 replies Author Time Post
Scuba Nov 2012 OP
dmr Nov 2012 #1
LineNew Reply How do those bozo's afford it? What tree grows all that free money?
mojowork_n Nov 2012 #2
midnight Nov 2012 #3
DCKit Nov 2012 #4
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