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Old 11-02-2006, 10:23 AM   #1
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Exclamation Google buying Clear Channel?


Report: Google Interested In Purchasing Stake In Clear Channel? November 2, 2006
Multiple experts are suggesting Google could be a good fit as a potential buyer for at least a minority stake in Clear Channel, which has been surrounded by talks of a potential buyout. Analyst David Bank of RBC Capital Markets said in a note yesterday that he believed it would make logical sense for the Internet giant to buy into CC.
Bank says that Google may be looking to expand its advertising business, especially into the realm of local searching. He notes that the company has recently hired "high profile" radio sales people in New York, Washington, Baltimore, Atlanta, and Chicago.
"The radio market is by definition a local market, deriving 80% of its revenue from local advertising," Bank writes. "So the radio market would be a logical add-on for Google."
Business Week's Steve Rosenbush adds that Google may not have to put much cash up for their part in a buyout, and could only buy as little as five percent of CC, giving them a "small but strategically important stake."
As previously reported, Clear Channel announced that it is considering "strategic alternatives to enhance shareholder values" in the wake of buyout rumors.
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Old 11-02-2006, 12:24 PM   #2
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Maybe they can make it human. Or if not human, at least better corporate. Play some Starbucks CD's.
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Old 11-02-2006, 12:34 PM   #3
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Send a message via AIM to realwx Send a message via MSN to realwx Google buying Clear Channel?
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Google purchases Clear Channel, where CC & Google is partnered with XM.

Irony?
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