Clear channel

Clear Channel, the country's largest radio station, has seen profits begin to fall. They posted a fourth-quarter net loss of $4.67 billion after it took a asset impairment charge. This loss comes as a surprise to most. Clear Channel has been a very profitable in the media world. Posting impressive gains and creating somewhat of a monopoly of radio stations. Clear Channel not only has competed against local stations but has also put many local radio stations out of airing. I feel this loss posted by Clear Channel is beneficial to the radio world. Maybe more independent stations will be able to regain some of their listening market. What do you think?