Clear Channel/iHeartMedia
Largest radio broadcaster in the United States.
PE-OWNED
Acquired by Bain Capital2008-07-01
What Made It Great
Local radio voices connecting communities across America.
What PE Will Likely Do
Significant reduction in local radio programming and voices, with more national syndicated and automated content
Decrease in investigative journalism and local news reporting, leading to less coverage of community issues and events
Increased implementation of paywalls and subscription requirements to access online radio and digital content
Reduction in the quality and diversity of music programming, with more repetitive playlists and less curation
Degradation of audio quality and technical issues with radio broadcasts and online streaming platforms
Expected Timeline
“0 to 6 months months”
Acquisition announced, promises of 'investment' in digital transformation, initial round of newsroom layoffs
“6 to 12 months months”
Further consolidation of newsrooms and content sharing across Clear Channel/iHeartMedia stations, reduction in print frequency or elimination of local print publications
“12 to 24 months months”
Noticeable decline in the quality and breadth of local news coverage, listener complaints about repetitive music programming and technical issues, increased subscription requirements for digital content
Similar Cases
Other companies that followed a similar path after PE acquisition
What You Can Do
Actions
Be vigilant for changes in the quality and diversity of local radio programming, and consider supporting alternative community-focused media sources
Advocate for the preservation of investigative journalism and in-depth local news coverage in your community
Be prepared to pay for digital content that was previously free, and consider alternative streaming options if the quality and value proposition declines
Alternatives
Look for family-owned or employee-owned businesses