Yes, we're aware of the huge Elephant in the Middle of the Media Room.
As expected, Clear Channel has agreed to a $26.7 billion dollar deal involving a pair of private equity firms, Thomas H. Lee Partners and Bain Capital.
When it's all said and done, Clear Channel will still be run by the Mays family - Chairman Lowry Mays, CEO Mark Mays and President/CFO Randall Mays.
But some changes have already been announced.
Among them, Clear Channel will dump 448 stations outside the top 100 radio markets, including what we hear is 34 stations in Ohio alone.
This wouldn't involve markets like Cleveland, Columbus, Cincinnati, Toledo, Akron/Canton or Youngstown. The presence of Youngstown, in particular, on the "keep" list would indicate that well-performing markets just outside the top 100 are staying in the company's portfolio.
A list on AllAccess this afternoon denotes the markets to be sold off, and the list includes: Ashtabula, Ashland/Mansfield (Mid-Ohio), Chillicothe, Defiance, Findlay/Tiffin, Lima, Marion and Sandusky.
One other effect here in Ohio - the deal calls for Clear Channel to dump its TV station group. That means CBS affiliate WKRC/12 would split from the massive CC radio cluster in that market.
More, as we hear more...