Friday, July 26, 2002

RADIO - FREE AT LAST? Changes at the top of Radio-crushing behemoth Clear Channel, with the wonderfully named Randy Michaels being shunted out of the radio division, being replaced by the chief executive's son. That, of course, is good news for radio fans, since scions of media families tend to be really rubbish at running communications businesses (witness Packer and Murdoch's next generation balls-up at One.Tel) and so it's probable that for a while at least Clear Channel's whale-after-crill hoovering up of competitors might be knocked off course slightly while the company tries to work out quite why its allure to shareholders has dropped so badly. Michael's change of role and the early announcement of profits came after a huge dip in the price of CC stock on Monday night.
Michaels says he's looking forward to new challenges [] - yes, that Head of Carpets and Soft Furnishings office is sweet

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