According to the New York Times, Clear Channel Communications has accepted a buyout offer from a private investment group.
Clear Channel dominates the Honolulu radio market. The company owns several popular FM and AM radio stations in Hawaii, including KSSK, Hot 93 and Star 101.9 – see this list.
As the Times article points out, some critics believe that Clear Channel has made broadcast radio a dull medium, thanks to the company’s restrictive playlist policies. conservative talk shows, and a cookie-cuttter business model that favors standardization over localization.
The Times also points out that the company and its major owner, the Mays family, have been loyal donors to the Republican party. The Democratic majority in Congress may put the brakes on the deal.
As part of the buyout, Clear Channel will sell all 42 of its television stations, and approximately a third of its 1500+ radio stations. The radio stations that are on the block are in small markets, but it remains to be seen how the buyout will affect the Honolulu media market.
See this press release for additional information.
