ARN’s owner Clear Channel

In the light of recent changes at the ARN network it is interesting to learn more about the background of ARN’s part owner, Clear Channel. Writing about the company on its website, Clear Channel CEO Randy Michaels details the philosophy of Clear Channel and the company’s recent history since the US laws were changed five years ago to allow unlimited ownership of stations across the country and a maximum of seven stations in any market. Michaels writes:

“Clear Channel is radio. One out of every ten radio stations across the United States broadcasts under the Clear Channel’s banner and the company’s approximate 1,170 stations bill a full 20% of total industry revenue. No one is bigger, better or more intense than Clear Channel Radio. And no one takes radio more seriously. Clear Channel broadcasts in every top ten market and in 47 of the top 50. These stations take to the airwaves across all 50 states, in almost every major market, reaching nearly every demographic with dozens of distinct formats from News/Talk to New Wave. Clear Channel radio stations generated nearly half of total company revenue in fiscal year 2000.

Clear Channel’s mission is to broadcast the best programming to the broadest audience providing the best value to advertisers. The company’s Programming Dream Team helps transfer the sound of big market programming to small market stations…and uses technology to keep the flavor local… Clear Channel stations broadcast to over 110 million listeners every week… Clear Channel made radio history in the year 2000, collecting strategic acquisitions and completing mergers designed to provide the company with a unique, unduplicated collection of assets that cannot be reproduced at any price. In late August Clear Channel announced the long anticipated merger with AMFM Radio, Inc. The largest radio merger in history was completed on August 30th, nearly doubling the Clear Channel radio station portfolio. Clear Channel became the first…and only…Radio Company to own more than 900 radio stations. AMFM brought strong radio stations and a large market presence to the Clear Channel table. In addition, Katz Media joined the Clear Channel family with the AMFM merger, along with Chancellor Marketing.

Just prior to the AMFM closing, Clear Channel acquired SFX Entertainment, the world’s largest promoter and producer of live entertainment events, including concerts, theatre and sporting events. The entertainment giant brought 120 live entertainment venues in 31 of the Top 50 markets to the Clear Channel party, including 16 owned and operated amphitheaters in the top 10 markets. The opportunities for synergies among all these Clear Channel divisions are explosive…and are in the very early innings.”