[BC] FCC greenlights Clear Channel deal

[Mike McCarthy]

On plants in good shape, yes, it makes sense to shut off the capital 
spigot as well as many other big ticket items as much as possible 
unless it's part of a the deal.  And yes, once the sale deal is 
announced, the same occurs as well.  That's SOP.

I've been involved in sales which had plants in really tough 
shape.  Both sides at varying times.  Each time it's messy. That's 
why I try to encourage owners even on a short term plan to upgrade 
critical devices so they can sell fast and at asking 
price....presuming the price is realistic.

I read that memo about CC shutting down the discretionary 
spending.  Looks like even fewer CC people will be at NAB this 
year.  Doesn't bode well for many aspects of the business.

MM

At 11:38 AM 1/28/2008 -0500, Rich Wood wrote
>That's far too logical. The sales I've been involved with virtually 
>shut off money for anything but emergency repairs. They were in good 
>shape and a deal had already been struck. They were waiting for FCC 
>approval, which at the time, could take forever. Any improvement 
>wouldn't affect the sales price.