Clear Channel Essay

8222 Words17 Pages

INTRODUCTION
Would people be willing to pay $12.50/month for commercial free radio beamed right to their car or home. Well two companies and many big investors are betting about $3 billion dollars that people are willing to do just that. In 1997, the Federal Communication Commission (FCC) granted a portion of the S-band spectrum for satellite radio and two companies purchased use of these bands and started the only two companies competing in the satellite radio business today, namely Sirius and XM. Analysts like William Kidd of CE Unterberg Towpin, predict satellite radio will generate about $10 billion a year in revenues by 2007 (McClean, 2001). However, to date neither of these companies has earned a dime. According …show more content…

Today two of the top broadcasting companies are Clear Channel Communications, Inc. and Infinity Broadcasting Company. Clear Channel’s history begins in 1972 with the birth of the San Antonio Broadcasting Company. Three years later, the first “Clear Channel” radio station, WOAI-AM, was acquired – it had its own nationwide frequency. In the late 1980s, the Company entered the television business and acquired half a dozen television stations. In 1994 it became listed as Clear Channel Communications, Inc Common Stock and owned 43 radio stations and 16 television stations in 32 markets. Today, the company is headed by Lowry Mays (Chairman of the Board), Mark Mays (President and Chief Executive Officer), and Randall Mays (Executive Vice President and Chief Financial Officer). Randall Mays has either owned or programmed more than 1,376 radio stations throughout his …show more content…

The ultramodern headquarters cost about $38 million to build and presents sate of the art studios and broadcasting equipment. Sirius does a majority of its broadcasting from this location, but they also have smaller broadcast studios in Los Angeles CA, Memphis TN, Nashville TN, New Orleans LA, Houston TX and Daytona FL this as they say, brings “SIRIUS listeners in touch with the centers of music, entertainment and information across America” (Sirius, comp.info). This assortment of locations and diversity allows for some 120 channels, 65 channels of which are 100% commercial free music and 55 channels which are all talk, sports and news. With major musical, talk and sports talents such as Howard Stern, Eminem, Lance Armstrong, and Bam Margera (Sirius). With multi studios and numerous well-known talents, has allowed in just a few years satellite radio has launched a multi-billion dollar a year industry with numerous way for future growth (Sirius,

More about Clear Channel Essay

Open Document