writes Granville Williams URL:
www.socialistworker.co.uk/article.php?article_id=8362
The rules on radio station ownership in the US used to be simple. Before the 1996 Telecommunications Act, a radio group could only own two stations in one market, and no more than 28 nationwide.
These rules were torn up in 1996. A Texan company called Clear Channel Communications swiftly went on a $30 billion dollar spending spree, buying more than 70 other media companies as well as individual stations.
It now owns over 1,200 radio stations and more than 30 television stations in the US. Based in San Antonio, where its founder Lowry Mays started with one radio station in 1972, it has now built up a global empire spanning radio, concert promotion and billboard advertising.
Worldwide Clear Channel has media outlets in 66 countries and owns 700,000 billboards. It is in a leading position in Britain