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« Monday « April 7, 2003
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Prime Time Payola
(GNN)
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Clear Channel owns more than 1200 radio stations (approximately 50% of the total), five times more than their closest competitors, CBS and ABC. Considering the fact that, before the 1996 Telco Act, a single broadcaster could not own more than 40 stations in the entire country, it is hard to see the behemoth as anything but a virtual creation of the Act itself. All told, the company has spent over $30 billion since the FCC lowered the barrier of entry to the proverbial corral. But, while Clear Channel's unhindered expansionism has been a direct result of the deregulation that media barons crave, it has not been viewed favorably by the rest of the industry.You never hear about this stuff on the radio.
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