Monday, June 12, 2006

Clear Channel Charity Boasting

Clear Channel Communications (NYSE:CCU) makes a big splash about how its "Total Corporate Gift Giving" is over the Billion Dollar Mark for 2005. A careful read reveals that approximately $144 million was fund raising and came from listeners. An even larger $694 million was airtime donated for PSA (Public Service Announcements). The PSA donation was approximately 10% of 2005 revenues of $6.61 Billion. What business can give away 10% of revenue capacity and be proud. Little if any information is offered about the PSA work.