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Jennifer is Co-host of The Story of Liberty Radio Broadcast, video editor and creator, blogger & Web designer for the Story of Liberty. TheStoryofLiberty.net

Romney’s company Bain Capital Owns Clear Channel

“Clear Channel owns more radio stations (850) than anyone else in the United States.  They also own Premiere Radio Networks, the company that syndicates the radio shows of Rush Limbaugh, Sean Hannity, and Glenn Beck, among others.  Needless to say, Clear Channel basically owns conservative talk radio in the United States.  So who owns Clear Channel?  Well, it turns out that Bain Capital is one of the primary owners of Clear Channel.  Yes, you read that correctly.  The company that Mitt Romney ran for so long is one of the “big bosses” over virtually all conservative talk radio in America.  Of course Mitt Romney is not running Bain Capital anymore.  He is a “retired partner”, but he still has a huge financial stake in Bain Capital.  We’re talking about millions upon millions of dollars. ” –http://endoftheamericandream.com/archives/bain-capital-owns-clear-channel-rush-limbaugh-sean-hannity-glenn-beck-michael-savage-etc

Clear Channel Communications

From Wikipedia, the free encyclopedia
Not to be confused with clear-channel radio stations, a type of AM radio station.
This article is about the broadcasting company. For other uses, see Clear channel.
CC Media Holdings, Inc.
Clear Channel logo.svg
Type Private
Industry EntertainmentAdvertising
Founded 1972
Headquarters San Antonio, TexasU.S.
Key people Bob Pittman, CEO[1]
Products RadioBillboards
Revenue increase$6.82 billion USD (2007)[2]
Net income increase$938.5 million USD (2007)[2]
Owner(s) Bain Capital
Thomas H. Lee Partners
Employees 18,115 full-time
Website http://www.clearchannel.com

Clear Channel Communications, Inc. is an American media conglomerate company headquartered in San AntonioTexas.[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]


From the Wall Street Journal: “Perhaps the messiest buyout of the buyout boom was the roughly $20 billion takeover of radio-and-billboard company Clear Channel Communications. The deal, led by private-equity firms Bain Capital — a.k.a., Mitt Romney’s old firm — and THL, took multiple trips to court, a price cut and about two years to close. And if you get people at Bain and THL to take some truth serum, they’ll tell you it was possibly the worst deal they’ve ever done.” http://blogs.wsj.com/deals/2012/01/13/clear-channel-takes-the-radio-out/

Public disclosure report: http://www.opensecrets.org/pfds/pfd2006/N00000286_2006_Pres.pdf

From the Clear Channel website: http://www.clearchannel.com/Radio/PressRelease.aspx?PressReleaseID=1599&p=hidden

Premiere Radio Networks Inc., a subsidiary of Clear Channel Communications, syndicates 90 radio programs and services to more than 5,000 radio affiliations and reaches over 190 million listeners weekly.  Premiere Radio is the number one radio network in the country and features the following personalities:  Rush Limbaugh, Jim Rome, Casey Kasem, Ryan Seacrest, Glenn Beck, Bob (Kevoian) & Tom (Griswold), Delilah, Steve Harvey, Blair Garner, George Noory, John Boy and Billy, Big Tigger, Dr. Dean Edell, Bob Costas, Sean Hannity and others. Premiere is based in Sherman Oaks, California, with 13 offices nationwide.

Premiere Networks, Inc.
Premiere Radio Logo.jpg
Type Wholly owned subsidiary of Clear Channel Communications
Industry Radio broadcastingadvertising
Founded 1987
Headquarters Sherman Oaks, California
Key people Julie TalbottPresident, Content and Affiliate Relations
Owner(s) Bain Capital
Thomas H. Lee Partners
Website www.premiereradio.com

The following comes from Wikipedia….

Clear Channel, through its subsidiary, Premiere Radio Networks:

And yes, Mitt Romney is still bringing in lots of money from Bain Capital.  The following comes from a Wikipedia article about Mitt Romney….

At the time of his departure, Romney negotiated an agreement with Bain Capital that allowed him to receive a passive profit share as a retired partner in some Bain Capital entities, including buyout and investment funds.[62][57] With the private equity business continuing to thrive, this deal would bring him millions of dollars in income each year.[57] As a result of his business career, by 2007 Romney and his wife had a net worth of between $190 and $250 million, most of it held in blind trusts.[62] An additional blind trust existed in the name of the Romneys’ children and grandchildren that was valued at between $70 and $100 million as of 2007.[63] The couple’s net worth remained in the same range as of 2011, and was still held in blind trusts.

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