Clear Channel Media loses $424m in 2012, StopRush Rolls On
Buried on the business page of mysanantonio.com this week, so brief you could easily have missed it, was the news that Clear Channel Media Holdings just reported losses for the last quarter of 2012 of $191 million, and $424 million for all of 2012.
Clear Channel has been in trouble for a long time for a variety of reasons, but one factor that contributed to their losses in 2012 was the death spiral of their golden boy radio host Rush Limbaugh.
Just shy of a year ago, Limbaugh launched a cruel 3 day attack on Georgetown law student Sandra Fluke, following her testimony before a Congressional panel regarding health care and birth control. His advertisers have been heading for the doors ever since, thanks in large part to groups like The Flush Rush Facebook community and #StopRush Twitter. Here are the current number of sponsors who have voluntarily removed their ads from Limbaugh’s show:
Inactive Victory: Week = 35 Month = 247 Total = 2484
Clear Channel has been firing radio employees all year in an effort to stanch the bleeding—to no avail. Limbaugh has a $400 million contract which expires in 2016. The question now is whether Clear Channel will tolerate this albatross around its neck for that long.
You can lend your voice to the StopRush movement in the following places: