Houston Radio Stations on the Selling Block
Earlier today, shareholders of radio giant Clear Channel approved a $17.9 billion buyout by two companies you've never heard of.
As part of the deal, Clear Channel will have to get rid of two Houston FM stations, including legendary KLOL.
One other station will have to be sold, too -- either Mix 96.5 FM or the The Buzz 94.5 FM. (Or whatever they're calling themselves these days; KLOL, long the home of arena rock and hairbands, was playing Spanish music the last time we tuned in.
The changes are necessary because the Bain Capital, one of the companies buying Clear Channel, reached an anti-trust settlement with the feds earlier this year as the sale was still pending. (It's been pending almost two years.) Station in San Francisco, Las Vegas and Cincinnati also have to go.
Is this the moment when some eager, innovative new owner comes in and saves Houston radio from perpetual dismalness, to coin a phrase.
Stay tuned!! Or, more likely, don't.
-- Richard Connelly