Report Shows Big Radio Companies Face Mounting Debt

A new Wall Street Journal Report shows big companies that own most local radio stations are facing mounting debt.

The companies, including Clear Channel, went on a buying spree as the industry consolidated, leaving them with lots of stations, but tons of debt.

Since then, the over-the-air radio companies have battled the growth of pod-casting, satellite radio and a new generation of mobile phones that play MP-3's.

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