The New York Times is reporting that the Justice Department Anti-trust division has okayed the sale of Clear Channel Communications, one of the big consortiums of radio stations. The sale should fetch $19 Billion.
When WXRT, our local little progressive rock station here in Chicago was bought up by CBS/Viacom/Westinghouse, their quality plummetted. A station a local guy had bought for something like $20,000 went for $20 Million. Suddenly they had to have a lot more in ad revenue. There was a 20% increase in ad time. Music became more commercial. They fired Johnny Mars, the best dj they had (he's since been rehired part-time).
More advertising. Less adventurous music. More talk radio. Should be grand.
Remember when you could hear music you liked on AM radio? Oh, yeah. None of you guys under 45.
Have I mentioned how much I love my Sirius Radio?