Friday, August 2, 2013

CC Sells Stake In SiriusXM

Clear Channel reported in its 2Q earnings report that it has sold its stake in SiriusXM

The stock sale netted Clear Channel $135.5 million.  CC originally made an $83.1 milluion investment in XM radio in 1999.

Which means much of the company’s audio product will disappear from the SiriusXM line-up.

It’s expected that AC “Lite FM”WLTW, New York, country “The Big 98” WSIX-FM, Nashville and urban WGCI-FM, Chicago (107.5) will go off the bird.  

Word is just CHRs Z-100 WHTZ NYC  and 102.7 KIIS-FM, Los Angeles will remain on the XM platform.

Among the other channels airing Clear Channel content are the Talk Radio channel, which features hosts like Glenn Beck and Dave Ramsey; the Extreme Talk channel, with personalities like Todd Schnitt and Bob & Tom; Fox Sports Radio; and the Sixx Sense channel that features syndicated nighttime personality and former Motley Crue bass player Nikki Sixx.

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