Let My Evil Empire Go

Clear Channel finally set a date for the shareholder vote that would allow it to go private and make a fortune for the Mays principals and their Wall Street cronies.

The date they chose was at the very end of the legal limit -- imagine that, Clear Channel pushing the legal limit -- the end of September.

Clear Channel has to win the vote.

There is no Supreme Court available to steal this election. And in the state of Texas, when a shareholder fails to return their proxy, it's counted as a "no".

Meanwhile the buyout price is $39.20, but Clear Channel's stock has been bouncing between the low $30's to the high $30 range. Think anyone has figured this out? Think there's money to be made on this stock in advance of the vote, too?

You bet.

Everyone is making money except the poor suckers who bought CCU when it was closer to $90 a share -- or $70 -- or $50 or, hell, even $40 a share.

These folks have taken what's referred to as a haircut.

Meanwhile if they are still holding CCU stock and they bought it that high, well, welcome to the world of shareholder value which to quote the Temptations "is just my imagination running wild".

Shareholder value? $39 dollars a share -- after all you've been through.

After all the reorganizations.

With the purchase and sale of the concert division.

Having survived "Less is More".

Clear Channel style hardball and all.

Sorry for your bad luck but we need to move on. The biggest consolidator of all needs a second life -- and like the "Second Life" online, it's a virtual world.

Virtually everybody but them loses money.

Still, I say "Let my Evil Empire Go".

Let's move on.

Clear Channel reincarnated has lots of employees to lay off to pay for this thing. These folks need jobs before Christmas.

Let my people go -- let them find work for before the holidays. Give them huge severance packages (What am I smoking?)

There's lots of stations and assets that could be sold at the right time for the right price and don't forget in a few years the remnants of Clear Channel with all the top markets its keeping is another pay day waiting to happen.

John Hogan needs something to run.

The Mays brothers need a day job.

Let My Evil Empire Go.


For over ten years consolidation has been a distraction to the radio industry.

Let's pray for a "Yes" vote so we can collectively move on to the future with a somewhat less powerful and might Evil Empire that has let its shareholders down, let its people down and let its industry down.

Down -- like the value of Clear Channel stock today compared to when the promises began.

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