Here we go again. The new owners of the Clear Channel Communications conglomerate are set to begin a massive restructuring expected to cut $400,000,000 in costs. Insiders expect layoffs in the company’s radio, outdoor advertising and international divisions and cuts to programming budgets and consolidation of back-office operations.
Industry observers say all 1200 Clear Channel-owned radio stations will switch to the KISS format and Ryan Seacrest will be their only remaining employee.
