Radio giant Clear Channel's been struggling with how to deal with the changing competitive environment, particularly satellite radio. Its biggest complaint has been that satellite radio providers shouldn't be allowed to provide local content, even though many Clear Channel stations do the same thing by broadcasting national content repackaged for local markets. Now, the company's CEO says it can't compete because satellite radio can offer 150 channels in every market, while Clear Channel can own only 8. While the restrictions on local-market radio ownership are becoming increasingly irrelevant given the rise of borderless media like satellite and internet radio, Clear Channel's missing the point -- owning more stations in each market won't help their business as long as the content sucks. That's the root of the problem, and with its meager attempts to reform proving ineffective, buying more stations appears to be its only idea on how to grow its business. But why keep buying radio stations that more and more people don't want to listen to?
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