Post subject: And in the surprising news item of the year...
Posted: Mon Dec 06, 2004 9:33 pm
Banned from the Pit
Joined: Thu Nov 25, 2004 1:36 am Posts: 72
Fox to Provide News for Clear Channel
31 minutes ago
SAN ANTONIO - Clear Channel Communications Inc., the nation's largest radio station operator, has selected Fox News Radio to provide national news for most of its news and talk stations in deal expected to nearly double Fox's radio presence.
No terms of the five-year cash deal were disclosed Monday. But Fox, a unit of News Corp., says if all options in the agreement are exercised, its radio service could have more than 500 affiliates by the middle of next year.
Fox currently provides one-minute newscasts to 275 stations. Starting next year, it will provide more than 100 Clear Channel stations with a five-minute top-of-the-hour newscast, a nightly news broadcast, and around-the-clock dedicated national news coverage. Fox News will be in many of Clear Channel's most prominent news/talk stations, including Los Angeles, Phoenix, Atlanta and San Diego.
In return, Fox News Radio will have access to news produced by San Antonio-based Clear Channel's news network. Fox also expects to hire more news anchors, studios and staff, but said it was too early to be more specific.
"This deal positions Fox News to become a significant player in the radio industry and is another example of our commitment to the medium," said Roger Ailes, Fox News chairman and CEO.
This is the first time the two corporations have worked together, according to Jack Abernethy, an executive vice president for Fox.
"Working this closely with a premiere national news provider for the majority of our news/talk stations makes overwhelming sense," John Hogan, chief executive officer of Clear Channel Radio, said in a statement. "Because of the breadth of this relationship, our local news directors will get a more customized and higher quality national news product — and that's great for listeners."
Clear Channel, which operates 1,200 stations, did not immediately return a phone call seeking comment about the deal and how it will affect its current news providers.
Shares in Clear Channel rose 51 cents, or 1.5 percent, to $33.66 in afternoon trading Monday on the New York Stock Exchange (news - web sites) — toward the low end of their 52-week trading range of $29.96 to $47.76.
Shares of News Corp. edged up 1 cent, or 0.1 percent, to $18.18 on the NYSE. The stock has traded between $17.16 and $39.74 in the past 52 weeks.
Joined: Sat Oct 16, 2004 10:52 pm Posts: 1727 Location: Earth Gender: Male
We Distort
You Decide
"It's the consumer fraud of Fair and Balanced that bothers me." -Outfoxed
_________________ "The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum." -Noam Chomsky
Joined: Sun Oct 17, 2004 4:01 am Posts: 19477 Location: Brooklyn NY
sounds like a huge suckfest to me
_________________
LittleWing sometime in July 2007 wrote:
Unfortunately, it's so elementary, and the big time investors behind the drive in the stock market aren't so stupid. This isn't the false economy of 2000.
Joined: Mon Oct 18, 2004 4:02 am Posts: 1918 Location: Ephrata
does anyone listen to terrestrial radio anymore?
besides 12 year old girls that is
I think radio's on it's way out....
I have no facts to back this up but I used to listen to radio all the time but it's all so much the same I don't even bother besides Stern in the morning
_________________ no need for those it's all over your clothes it's all over your face it's all over your nose
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