CLEAR Channel is owned by BAIN CAPITAL. We all know who is on Clear Channel. None other Sean Hannity, Rush Limbaugh, Glen Beck, Mike Savage nation, Mark Levin show. Talk about conflict of interest! ALL support Romney and ALL say Ron Paul is not electable. TOTAL Media Brainwashing.”
Rush Limbaugh is a paid mouthpiece for Romney, paid millions to maintain the status quo.
Rush Limbaugh signed an eight-year contract for about $400 million, a big jump from his last Clear Channel deal.
JULY 3, 2008
Clear Channel, Limbaugh Ink $400 Million New Contract
By SARAH MCBRIDE
Conservative radio talk-show host Rush Limbaugh Wednesday inked an eight-year contract for around $400 million, underscoring how radio is spending big sums on bankable talent to compete in the crowded entertainment field.
Mr. Limbaugh’s compensation of $38 million a year, plus a signing bonus of about $100 million is less in absolute terms than the five-year, $500 million contract Howard Stern cut in 2004 with Sirius Satellite Radio Inc. But Mr. Limbaugh’s contract could net him more, as Mr. Stern must pay costs for his cast and production.
It’s a big jump from Mr. Limbaugh’s last contract, which at $285 million was a record for a radio personality when he signed it in 2001. Since then, the weekly audience for his three-hour midday show has held steady at about 20 million listeners, according to his syndicator, Clear Channel Communications Inc.’s Premiere Radio Networks. But advertisers are increasingly anxious to reach that audience.
Mr. Limbaugh’s show is the nation’s most-listened-to, followed by fellow conservative Sean Hannity’s show, distributed by ABC Radio Networks, a division of Citadel Broadcasting Corp. Premiere is in advanced talks with Mr. Hannity to try to woo him away for a sum in the $200 million range over eight years, a person familiar with the situation said. Representatives for Mr. Hannity didn’t respond to requests for comment. A spokeswoman for Premiere declined to comment.
On Wednesday’s show, Mr. Limbaugh, 57 years old, said he was “ecstatic” about the deal.
As radio fights for market share in a fragmented entertainment market, its national stars are becoming increasingly valuable. Ryan Seacrest, whose radio shows are also syndicated by Premiere, recently made a deal where he owns and controls a portion of the advertising on one of his shows.
Radio reaches about 93% of the population each week, according to Arbitron Inc., with listeners tuning in an average of about 18.5 hours. That is a decline from just over 22 hours per week 10 years ago. Radio advertising, including on radio Internet sites, totaled $21.3 billion last year, down from $21.7 billion the year before.
Mr. Limbaugh’s fans are fiercely loyal to the host and very responsive to his show’s advertisers, media buyers say. “He is a proven commodity,” says Mark Lefkowitz, executive vice president and media director at Furman Roth Advertising Inc.
Mr. Limbaugh’s show also delivers revenue through ancillary businesses such as his “24/7” club that costs about $60 a year. Those businesses have grown substantially, a person familiar with the show said. For example, “24/7” members can watch video of the show live online and tap into a growing number of Internet-based frills.
Write to Sarah McBride at email@example.com
WHO OWNS MAJOR MEDIA ???
RP12 = RON PAUL 2012