Idaho Radio News Etc.

Let’s pretend you bought stock in the three major Boise radio companies when this site started in September 2003.

Citadel. Clear Channel. Journal. Which one would be worth the most money?

Citadel was worth $18.85 per share. A share of Clear Channel stock went for $17.93. Journal stood at $16.45.

Today? Citadel: one cent. Journal $4.09. Clear Channel: $39.48.

Journal’s dropped by nearly two-thirds. Citadel’s stock is worthless. But Clear Channel? You would have more than doubled your money.

Go figure.

Check out this news release from Tribune (a company that owns TV stations and newspapers in top markets nationwide).

CHICAGO Apr. 7, 2008 — Another freaking Clear Channel Communications executive on the payroll and this one’s been named President of Tribune Interactive.

Tribune Broadcasting’s Randy Michaels’ past finally caught up with him when Marc Chase obviously blackmailed his way into a position he is not remotely qualified to hold. Insiders are irate. Chase is a fraud. A source inside Tribune HR, who wished to remain anonymous, pointed out that Marc Chase’s resume (below) was obviously fabricated. First of all, his name isn’t even Marc Chase–it’s Mark Thompson. The whole thing is a sham.

Broadcasting & Cable talked to folks at Tribune — who say the news release is straight up, and that they have in fact hired Chase. Wow.

Hey Peak and GAP folks — still got Clear Channel stock? The Wall Street Journal reports the deal to take the company private is about to collapse. This, of course has no effect on the Idaho markets since those deals to sell were separate — but it looks like the $19 billion deal with Providence Equity Partners will collapse under its own weight. Now both CC’s radio and outdoor divisions are starting to plunge – and the stock price is starting to tank on reports the deal will fall apart.

Boise was the largest market Clear Channel sold — and it looks like folks here in Idaho got off the Titanic just in time…

Gap Broadcasting II now owns the former Clear Channel Communications clusters in Twin Falls and Idaho Falls – the culmination of a $74 million deal that also included a rash of small market stations in several states.

Here’s an interesting item from the now-departed Clear Channel Communications: the company plans to take its national ad sales in house. Instead of using a third-party firm to aggregate buys from national advertisers, the company plans to beef up its “marketing services” staff – by a stunning 50% – to cut out the middle man. Katz Media Group currently reps Clear Channel – but will lose the client.

And yes, Clear Channel is still a public company. CC is waiting for the Department of Justice to approve its plan to go private. CC shed the Boise market from its portfolio last March – and let the Twin Falls and IF/Poky clusters last fall.

Bain Capital and Thomas H. Lee Partners have been given the green light to take the radio giant private by the FCC. CC is also working to sell its TV station group to Providence Equity Partners – and has sold or is selling all radio stations in markets smaller than 100 to a variety of buyers. The FCC approved the TV part of the transaction in November.