Clear Channel explores a sale

Clear Channel explores a sale
Web Posted: 10/25/2006 08:48 PM CDT
Meena Thiruvengadam
Express-News Business Writer
Clear Channel Communications Inc. on Wednesday confirmed it is considering putting itself up for sale and has hired Goldman Sachs as an adviser.
Since CNBC reported the company was "warming" to the idea of a buyout on Tuesday, media outlets around the world had begun speculating the company could go private because of lackluster radio ad sales and sluggish stock prices.
The San Antonio-based company refused to comment on the speculation, but on Wednesday announced its board "is evaluating various strategic alternatives to enhance shareholder value."
It would not comment beyond its statement.
Shares of Clear Channel stock, which were trading as high as $85.49 in 1999, have been trading between $27 and $35 for the past two years.
Its shares hit a 52-week low of $27.17 in August.
"There's a lot of private equity money out there, and people are just putting two and two together," A.G. Edwards & Sons analyst Michael Kupinski said before Wednesday's announcement.
"It's fairly typical when stocks are tremendously out of favor. "
If it is taken private, Clear Channel would join the ranks of companies like Freescale Semiconductor Inc., Michaels Stores Inc. and HCA who have all recently agreed to be bought out by investor groups.
The company had restructured itself in the past year by spinning off its entertainment division, which it called Live Nation Inc., and 10 percent of its outdoor advertising unit, Clear Channel Outdoor Holdings Inc.
The company still has a substantial $7.9 billion in debt.
Last year, in an effort to lure back listeners who had moved on to iPods and satellite radio, Clear Channel began charging more for ads but playing fewer of them to minimize commercial time.
The strategy appeared to be working.
"It's one of the few in the industry that's showing pretty decent revenue growth," Kupinski said.
Clear Channel reported second-quarter 2006 revenue of $1.85 billion.



Revenue was up 6 percent for the quarter in the company's radio broadcasting unit, thanks to strong ad spending from the automotive, services and retail sectors.



Clear Channel share prices rose 15 cents Wednesday to close at $32.35 on the New York Stock Exchange following a 42-cent jump after the news report Tuesday.



In after-hours trading Wednesday, its stock was up $1.87, or 5.8 percent, to $34.22.



The company also announced it plans to release its third-quarter 2006 earnings before the market opens Monday.

 

All about me

I am a 2001 graduate of Paint Creek High School. I also spent one semester at South Plains College in Levelland, Texas. I started school in Rule Texas. then I moved to Paint Creek Highschool. and then I moved to lueders avoca.where I went to school for three years and then I moved back to my home town of Paint Creek in 1995. I graduated from Paint Creek High School in 2001. I went on to South Plains College in the fall of 2001. In the fall of 2002, I joined Trinitty Baptist Church in the fall of 2002. In the fall of 2004. I went to the Plainview Training Academy where I became a correctional officer for The State of Texas and The Texas Department of Criminal Justice. and in The March of 2005 I joined Southcrest baptist Church. I was baptised there on April 9, 2005.In the Febuary 2006 I started going to Family Harvest Church. I love to watch sports, hunt, fish, watch movies, go to rodeos, listen to country music, and also love Christian contempory music. I love Nascar. My favorite Driver is Dale Jr,. I love watching the PBR and the PRCA. I also love Texas Tech and All the dallas sports teams.Who are: Dallas Cowboys,Dallas Mavericks, Dallas Stars, and the Texas Rangers. I love The Texas .Brigades. "The outstanding scientific discovery of the 20th century is not television or radio, but the complexity of the land organism." -- Aldo Leopold" One of My favorite bible verses. Let not your heart be troubled: ye believe in God, believe also in me. John 14:1. On October 1st, 2013 I got engaged to the most wonderful woman in the world and we will get married on June 21st. 

Places I have been over the years

I have been to:
Tampa, Florida
Orlando, Florida
Las Vegas,Nevada
St.Louis, Missouri
Springfield, Missouri
Branson, Missouri
Philadelphia, Pennsylvania
Nashville, Tennessee
Memphis, Tennessee
Jackson, Mississippi
Ruidoso, New Mexico
Grand Canyon, Arizona
Mexico

People I have met over the years

People I have met over the years

I have met:
Former First Lady Laura Bush
Greta Van Sustern- Fox News Anchor
Donald Evans Former US Commerce Secretary
Karl Rove Former Whitehouse Deputy Cheif of Staff and Advisor to President Bush and Fox News contributor
U.S. Senator Kay Bailey Hutchison- Candidate for Governor of Texas
Governor Mike Huckabee
Chuck Norris
Governor Rick Perry Governor of Texas
President George W.Bush
Speaker of US house of Representatives-Denny Hastert
Roger Creager-Texas Country Music Artist
Stoney Larue- Texas Country Music Artist
Pat Green-Texas Country Music Artist
Cory Morrow-Texas Country Music Artist
Peter Dawson-Texas Country Music Artist
Johnny Lee- Texas Country Music Artist
Deryl Dodd- Texas Country Music Artist
Charlie Robison- Texas Country Music Artist
Cross Canadian Ragweed-Texas Country Music Artist
Kevin Fowler-Texas Country Music Artist
Irlene Mandrell-Country Music Artist
Gary Morris-Country Music Artist
Randy Owen-Country Music Artist
Ted Nugent-Music Artist
Gary Collins- Actor
Patrick Duffy-Actor
Sid Bream- Former Major League Baseball player
Larry Csonka-Former Miami Dolphin Running Back
Justin McBride- Professional Bull Rider
Tuff Hedeman- Founder of the PBR and CBR
Jay Novacek-Former Dallas Cowboys Tight End
Drew Pearson- Former Dallas Cowboys Wide Reciever
Charlie Waters- Former Dallas Cowboys Defensive Back
Wayne Lapierre-NRA Executive Vice President
Marsha Sharp- Former Lady Raider Basketball Coach
Craig Way- Play by Play Announcer for UT
Colonel Oliver North(retired)-Talk Show host and Fox News Channel Contributor
G.Gordon Liddy- Talk Show Host
Robert Duvall-Actor
Brad Maule-Actor
Bill Hayes- Actor
Kristine Kahanek- KTVT CBS 11 Cheif Meteorologist
Julie Bologna-KTVT CBS 11 Meteorologist
Jeff Jamison-KTVT CBS 11 Meteorologist
Mike Burger-KTVT CBS 11 Meteorologist
Garry Seith-TXA 21 Meteorologist
Pat Knight- Texas Tech Head Men's Basketball Coach
Kristy Curry-Texas Tech Head Women's Basketball Coach
Sheri Coale-Oklahoma Head Women's Basketball Coach
Bob Tallman- PRCA Rodeo Announcer
Hadley Barrett- PRCA Rodeo Announcer
Chris Rankin- PRCA Rodeo Announcer
Tommy Blanton- The Voice of the Texas Cowboy Reunion
Kevin Eschenfelder- FSN Southwest
Ian Eagle- CBS Sports
Brad Nessler- ABC on ESPN

Rector named new chief meteorologist for KRBC

Rector named new chief meteorologist for KRBC
By Janet Van Vleet / vanvleetj@reporternews.comJune 22, 2006
The weather desks at two local TV stations are going through a whirlwind of changes.
Brandon Rector, who has worked for NBC affiliate KRBC-TV (Channel 9) for three years, was named the station's chief meteorologist Wednesday. He replaces Craig Carnesi, who left KRBC in May to work in Wilmington, N.C.
Rector joined KRBC in July 2003 after graduating from North Carolina State University in 2002 with a degree in meteorology. He previously worked as KRBC's weekend and morning meteorologist.
''I'm pleased to be able to promote from within to fill this position on KRBC,'' said Tom Vodak, news director for KRBC and for CBS affiliate KTAB-TV. ''Brandon knows how to forecast and handle severe weather here in West Texas.
Vodak said KRBC is looking for a new meteorologist for the ''West Texas Today'' weekday morning newscast.
After Sonya Stephens left KTAB (Channel 32) for the sunny, hurricane-magnet shores of Wilmington, N.C., the station hired Kira Miner to take over her spot on the morning ''Daybreak'' and noon ''NoonTAB'' newscasts.
Miner graduated from Florida State University in Tallahassee in 2005 with a degree in geography and a minor in meteorology. She spent the last year working for WINK-TV in Fort Myers, Fla., as a weather producer.
Also new at the KTAB weather desk is Marcy Novak. She replaces forecaster Rex Andrew, who is now in Lubbock, on KTAB's weekend newscasts.
Novak graduated in May from Texas A&M University with a meteorology degree. She interned at KBTX-TV in College Station and KXAS-TV in Fort Worth. She won a National Collegiate Weather Forecasting contest in 2003 and is a member of the American Meteorological Society.
Copyright 2006, Abilene Reporter News. All Rights Reserved.