We'll just have to wait to see how this shakes out, but Clear Channel, AKA The Huge Company That Makes FM Radio Blow, has been purchased by a group of investors for $18.7 billion. Clear Channel has plans to sell off hundreds of radio stations and 42 TV stations.
So what's it going to mean for radio as we hear it? If anything? The best we can do for now is dabble in business-tool mode (hey, it wasn't our idea to get them involved in entertainment) and consult sources like MarketWatch, for what they're worth. It's certainly a heartening sign that the stations that Clear Channel owns aren't making as much money as they used to because fewer people want to listen to them, or, in other words, podcasts, streaming Internet radio, satellite radio, and many still-strong public-radio programs across the country are cooler. Then again, what's to stop Clear Channel from realizing this and getting involved with the first three?