Ah, gotta love it. Clear Channel, a slightly lighter shade of the Cloud company only facing about $21 billion, (that's B as in BILLION), in debt with a slew of layoffs and impending misery through the entire division. We've been down this road before.Slight question: Here locally, they don't have any money, just enough to hire Gil Gross and Frosty the Snowman but we digress.
Now, via Page Six we learn that the new big head cheese in NY, (a guy named Pittman), has a mist fetish. I'm not kidding. Remember, this is radio--maybe they got tired of looking at ads on Craigslist for "advisers" and "consultants."
Jerry Del Colliano, who runs the Inside Music Media Web site, reports that Pittman’s visitors will walk through a fine mist when they get off the elevator.
“As you walk through the mist, you hear directed speakers playing Clear Channel stations across the country,” a source told Del Colliano.
Oh Dear God.
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Tom Leykis has a running joke on his show. His goal this year is to be more profitable than Clear Channel and Cumulus and he will achieve it by making a $1 profit...he is currently $100k under his goal...
ReplyDeleteI don't see how anything good is going to come out of Clear Channel. Their cashflow isn't enough to service the $20 Billion debt. They recently re-issued the debt at higher interest rates than they were paying before. That doesn't sound like a healthy company. But in the meantime, Bob Pittman gets to play with the stars and have his fancy mist tunnel and private jet.
ReplyDeleteHey! Talk to Ronald Lowenstein! He can't stop telling us about how great Mitt Romney is, yet it's BAIN CAPITAL that Clear Channel is indebted to. Do you think Ronald knows this? I bet he doesn't! I bet he hasn't read anything critical in the last decade. The great RonnnCnnn who celebrates his new employer and Mitt Romney! People who are content destroying the business we all work in.
ReplyDeleteI hope this guy Weintraub buries him! Screw Lowenstein and his first grade level knowledge of the world. Clear Channel and Cumulus, owned by Bain and other investors, with their champions on conservative radio and now their champions on liberal radio! GO RONNNNNNNNNN!
Didn't you hear? Per Ronnnnnn: Cumulus treats him very well.
DeleteAs long as the checks clear and he can charge his pedicures to the Amex black card Lowenstein will continue to sing the praises of his employers. He's turned into such a corporate brown noser...