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Please begin with an informative title:

I seem to spend a lot of my time musing on ways to take back power for the people.  I assume you do to.  Our progressive/liberal activism's most central tenet is about trying to re-balance the equation of power.

So my latest scheme comes from the old adage: if you can't beat 'em, join 'em.

We'd all agree that Media Ownership is a huge issue.  So why don't we own some of the media?

Our target: Clear Channel

Intro

You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

Clear Channel's current Market Capitalization is $14.39 Billion (or Market Cap), closing at $28.90 a share on Friday.

Through my crude understanding of Corporations, Market Cap is the number of public shares outstanding multiplied by the current stock price.  

To control a corporation outright, you need 50%+1 of the shares.

Using Yahoo's numbers and my understanding, we can calculate there are currently around 498 Million shares of Clear Channel.

That means to own a controlling interest you'd need to control 249 Million shares of stock.  At $28.90 a share, that would cost around $7.2 Billion.

So if you, me, and 10 Million of our closest friends could scrounge up $720 a piece, we could control a majority interest in Clear Channel.

Take this also with the fact that Clear Channel is currently involved in a lawsuit about a failed Private Equity buyout, and perhaps we all could get it for even cheaper.

Extended (Optional)

Originally posted to pacified on Sat Apr 05, 2008 at 12:53 PM PDT.

Poll

Taking over Clear Channel: Good Idea or Bad Idea?

72%88 votes
10%13 votes
17%21 votes

| 122 votes | Vote | Results

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