Wall Street Money Shuns TV.

Broadcasting & Cable, November, 2006

By John M. Higgins What the Clear Channel deal means for other broadcasters If you believe in the dictum "follow the money," last week offered a sad commentary on the state of the television business. Some of Wall Street's biggest takeover players jumped at the chance to pour billions of dollars into the lackluster radio business, agreeing to buy giant Clear Channel for $26.7 billion.

They can't, however, muster any enthusiasm for the TV business and immediately put the company's stations on the block. Sluggish, ailing radio--battered by satellite services, iPods and repelled listeners-- is a better bet than local TV? The flurry of recent deals involving TV stations offers a chance to see how Wall Street's presumed "smart-money"...

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