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You are currently browsing the ©2008 SDRadio.net | San Diego Radio weblog archives for the day Friday, June 6, 2008.
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Archive for Friday, June 6, 2008
The Memo
Friday, June 6, 2008 by SDRadio.
Clear Channel bosses have told the company to reign in all cash. In a memo to the company, the proposed private buy out has the company keeping all cash in reserve for the eventual payout. The deal, worth $36 a share, would require an extensive outlay of $$$ in case current company owners did not opt for the stub equity option.
Costs are expected to be cut, and San Antonio is dialing for dollars to fill the Texas coffers.
See AllAccess.com for the Wall Street Journal story.
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