Clear Channel Radio Gets Ready to Drop Other Shoe

Lately, shoes are either getting thrown or dropped. President Bush had to dodge a couple in Iraq recently and now an article by Peter Lauria in the New York Post says Clear Channel is set to let the other shoe drop in rumored budget and personnel cuts.

According to Lauria: "The new owners of radio giant Clear Channel Communications will next week begin implementing a massive restructuring plan that seeks to cut $400 million in costs...[through]...the restructuring will include layoffs across the company's radio, outdoor advertising and international divisions as well as cuts to programming budgets and consolidation of back-office operations."

Layoffs are supposed to begin on Tuesday while most people are preoccupied with Barack Obama's Inauguration Day.

Related: The Fix is in - and it Will Break Radio