Clear Channel pays Limbaugh $50 million dollars a year in base salary...of course they do derive the income produced from ad revenue from his show, but Clear Channel also forfeits 25% of their ad time during his show to Limbaugh himself (you know, those endless self promotions about buying his newsletter, joining his website, etc, etc) and that was one of the stipulations when he signed his 8 year-400 million dollar contract extension a few years back....so it's unknown exactly how much income loss Clear Channel forfeits from this lost ad revenue, but no doubt it's substantial....so, the $50 million a year they pay him in salary is really just a component of how much he costs Clear Channel a year...two years ago Clear Channel was forced to lay off 200 employees because they were top heavy salarywise...it's ironic that they needed to cut almost exactly the amount of Limbaughs total contract, or 400 million in salaries.....they approached him about possibly renegotiating his contract, and he essentially told them to go fuck themselves (nothing particularly wrong with that, because Clear Channel were the ones stupid enough to sign him to that over inflated contract) so it's not really his fault in that sense, but if he was as big a champion for the little guy, you'd have thought he might be a little more pliable, but he wasn't....as such, Clear Channel had no choice but to cut 200 people loose....meanwhile, Clear Channel has been on life support since a 19.8 billion dollar purchase deal fell though almost 2 years ago...they continue hemorrhaging money and unless they can find a merger deal (highly unlikely), or divest themselves of the less profitable portions of their communications conglomerate (which is the most probable scenario), they're going to have no alternative but to go the way of re organizational bankruptcy.....mvscal wrote:Link
do a little research and you can verify all of this yourself....I know about it because a bud of mine is a manager of two radio stations here in town and he's the one that gave me the info on it...I verified the story via a little reseach and it's absolutely true...
