Mitt Romney’s Company Buys Clear Channel
This could either turn out to be Orwellian or completely benign. Here’s more from CNN Money:
NEW YORK (Reuters) — Clear Channel, the No. 1 U.S. radio station operator, said on Thursday it would be acquired by private equity firms Thomas H. Lee Partners, Bain Capital and the company’s founding Mays family for nearly $19 billion.
Clear Channel, which operates 1,100 radio stations, is selling at a time when the radio advertising market is weak, and listeners are migrating to digital music, Internet media and satellite radio, hurting radio broadcasters.
By the way, Romney is part of Bain Capital. Deep pockets? Oh yes.
So, should politicians be involved with this kind of thing? Owning media empires? Smells really funny…like Vice Presidents giving no bid contracts to companies that they used to work for. It certainly isn’t illegal, but it feels unethical. Especially when you’re running for President.
We shall see…