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Now that Romney is the Republican candidate, how do you feel about Bain Capital's ownership of Clearchannel Communications?

Asked by SquirrelEStuff (10007points) July 5th, 2012

http://en.wikipedia.org/wiki/Clear_Channel_Communications
“Clear Channel Communications, Inc. is an American mass media company headquartered in San Antonio, Texas.[3] It was founded in 1972 by Lowry Mays and Red McCombs, and was taken private by Bain Capital LLC and Thomas H. Lee Partners LP in a leveraged buyout in 2008.[4] Clear Channel specializes in radio broadcasting, concert promotion and hosting, and fixed advertising in the United States through its subsidiaries.”
Clear Channel is the largest owner of full-power AM, FM, and shortwave radio stations and twelve radio channels on XM Satellite Radio, and is also the largest pure-play radio station owner and operator. The group was in the television business until it sold all of its TV stations to Newport Television in 2008.
Newport Television was founded by Providence Equity Partners. On September 16, 2009 Richard Parsons, who became chairman of Citigroup Inc. in February 2009, joined Providence Equity Partners Inc. as a senior adviser. “Dick is a highly regarded corporate leader and his counsel is regularly sought by boards, CEOs and government officials,” Citigroup said in a separate statement. “His advisory role at Providence will not require any day-to-day operational work or oversight, and his primary business activity absolutely will remain with Citi.”[3]

In my eyes, there is no liberal or conservative media, it is all corporate-owned, whose best interests are to increase the profits for its shareholders and subsidiaries, who often are shareholders in other companies as well.

How do you feel about a potential President having such close personal ties to media ownership?
Should this be a mainstream issue?

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