Clear Channel To Restructure, Cut $400 Million In Costs

The new owners of radio giant Clear Channel Communications will next week begin implementing a massive restructuring plan that seeks to cut $400 million in costs at the company, The Post has learned.

According to three sources with knowledge of the plan, the restructuring will include layoffs across the company's radio, outdoor advertising and international divisions as well as cuts to programming budgets and consolidation of back-office operations.

Read the whole story here.

Comments

[in10se]

In the Miami Florida market Clear Channel owns the "Progressive" talk radio station WINZ. The format includes Don Imus and a number of Air America talkers.
The comments so far seem to think that Clear Channel is only a Right Wing broadcaster. If they go so will progressive radio in that market.

[wm1066]

They sound like corporate raiders. How ironic that its happening to Clear Channel. Its to bad C.C.got away with gobbleing up all those other smaller stations.
Can we finally bring back some regulation in America to protect smaller companies from being taken over by bigger (richer) companies! Hostile takeovers should be illegal, or subject to a court that can look at the impact on a community.

[deepfreezevideo]

Clear Channel, a cancer on the industry.

[sparkey]

If my comment EVER gets posted that I made at 6:24 A.M., will somebody please tell me what I said to get ANOTHER comment pending notice???????

[sparkey]

Maybe if Clear Channel hadn't banned some of it's singing groups (Dixie Chicks) after telling the truth about Cheney's puppet, they wouldn't have started to lose listeners. It also means they wouldn't have lost money from people not buying the products that were on those radio stations.

[satyriasis]

Smear Channel has partly caused this mess by getting rethuglicans elected. Looks like they're getting what they deserve.....

[piquet]

Please go bust...

[Chaucea]

Clear Channel is the devil! >:-(

[myworld]

Limbaugh is turning on fans ,i hope his ratings dive

[Opt1musPr1me]

Welcome to the club Clear Channel.

[progressivegreg]

Interesting, I was just talking with a friend this morning about Clear Channel vs Citadel here in the Grand Rapids market and we had both noticed that Citadel is our in the community promoting all kinds of local events. On new years eve Citadel sponsored a "ball drop" ala Times square here in downtown, Citadel has also arranged to have Obama's swearing in on the big screen at a local movie theatre. Clear Channel has been absent from any local promotion around here for quite some time.

[nellie]

I wish radio would do more local coverage. It's a great media for community news.

[maxfax]

Cut Limbaugh.

[PoliticalAmazon]

Clear Channel will cut those with the lowest numbers. Unfortunatey, that won't include Limbaugh.

[cmeans29]

True. I'm not a fan of Limbaugh but his show is highly rated.

[harriettubman]

They need to start by removing some of their conceited radio hosts who think they are the only talented people on the planet.

[JamezQ]

I think it's CLEAR channel