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Should A President Own All Media?
I would very much appreciate your feelings on this. Thank you.
I just learned that Mitt Romney's private equity firm, Bain Capital , and Thomas H. Lee Partners have agreed to pay in a leveraged buyout agreement with Clear Channel Communications , the largest radio station owner in the country for 19.5 Billion. This is the release from Clearchannel's website:
http://www.clearchannel.com/Corporate/PressRelease...
and BAIN CAPITAL::
http://en.wikipedia.org/wiki/bain_c...
Clear Channel owns over 1,100 full-power AM, FM, and shortwave radio stations, twelve radio channels on Satellite Radio, and more than 30 television stations in the United States. Premiere Radio Networks , which is the largest syndication company in the United States, is a wholly owned subsidiary of Clear Channel and is home to Rush Limbaugh, Glenn Beck, Sean Hannity and many other household names.
Could it be that Romney will use his new-found media outlet as a passive wing of his Campaign?
Sorry that Bain Capitol link didn't work. Here it is....
8 Answers
- labken1817Lv 61 decade agoFavorite Answer
Though I'm sure Romney still has connections with Bain Capital, he resigned his position with the company several years ago. He has not been involved in Bain's buyout of Clear Channel Media.
- netjrLv 61 decade ago
The president of the United States has no control over their own assets. At some point in the election process - possibly already engaged - presidential candidates place all of their holdings in a blind trust. Its been done this way since before Kennedy. Therfore Romney nor anyone else would control anything related to their investments. In fact they might not even know what the trust is investing in.
- justgoodfolkLv 71 decade ago
No. Mitt Romney is a threat to American freedom because of many reasons but that is certainly one. I'm sad to say the rest of the GOP candidates aren't much better however.
- Anonymous1 decade ago
No, the cons already own Fox and AM radio.
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- Anonymous1 decade ago
Romney is a co-founder. He does not own it outright or even have a controlling interest in it.
Nice try.
- Anonymous1 decade ago
Only in Venezuela.
