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Bain Giving Clear Channel the Treatment

By: weco in FFFT | Recommend this post (0)
Thu, 18 Oct 12 9:17 PM | 43 view(s)
Boardmark this board | Food For Further Thought 		Msg. 46912 of 65535
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Bain Giving Clear Channel the Treatment

In 2006, the same year that Romney announced he was running, Bain Capital purchased Clear Channel (radio network and billboard divisions), home to Limbaugh, Hannity and Levin.

Early this year, largely as a result of the Bain takeover, Clear Channel was in debt more than 19 billion dollars. Last March, Bain Capital took an additional 2.2 billion dollars out of Clear Channel, so the debt is now greater than 21 billion.

Big debt comes with harsh deadlines. Clear Channel has to come up with $500 million in debt payments by the end of 2013, a payment of $1.1 billion due in 2014, and then a much larger payment of $12 billion due in 2016.

http://www.dailykos.com/story/2012/10/16/1144958/-Big-Trouble-in-Limbaugh-Land

It couldn't happen to nicer people.


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