Mitt Romney's Bain Capital is key player in Clear Channel deal

[via Rochester Turning]

Great find from James in the comments:

Clear Channel just recently went up for auction. Mitt Romney’s Bain Capital bought it along with Thomas H Lee Partners, but I’m not sure who owns them. The rumor on the Street was that there might be regulatory problems because the firms own positions in other media companies, but I’m not sure which ones. Article is here and Wikipedia for Bain Capital is here.

Mitt Romney is running for president in 2008 (some consider him the frontrunner for the Republican nomination). I bet a fleet of t.v.and radio stations might come in handy. Remember — this is how Berlusconi got elected in Italy. Original post after the fold.

One of the most distressing political topics of the day is the state of our media. Did you know that of the four major television channels here, one is owned by Sinclair (FOX 31 WUHF, which comes in as Channel 7 on cable) and another (ABC 13 WHAM) is owned by Clear Channel? Sinclair, you may recall, was set to run an anti-John Kerry documentary a few days before the 2004 election until a sponsor boycott forced them to do otherwise, while Clear Channel reportedly led campaigns against the Dixie Chicks following their comments about George Bush a few years ago. Clear Channel also owns seven local radio stations. I should say, in complete fairness, that in our experience, the reporters at both WUHF and WHAM are hard-working, professional, and fair.

Of course, all of these companies claim to be nonpartisan in their political coverage. Then again, so does Fox News and if you ever needed further proof of their partisanship read this internal memo. Here’s a teaser:

Be on the lookout for any statements from the Iraqi insurgents, who must be thrilled at the prospect of a Dem controlled Congress.

article originally published at

The media's job is to interest the public in the public interest. -John Dewey