But what does the future hold?

Implications: 1) Clear Channel was reported as accepting a $18.7 Billion Takeover Bid
2)the sum of the parts of Clear Channel will be worth more than the whole

Analysis: Clear Channel owns and operates 1,200 radio stations however instead of different programming as originally conceived each market has the same cookie cutter programming.  This opened the door to Satellite Radio to provide something different along with internet radio.  Today's youth no longer looks to radio to break the next talent rather XM/Sirius or Internet/YouTube/MySpace are the areas of interest. 

Hopefully, by taking things private Clear Channel will get the message and provide value to radio before the FM channel will become nothing more than the AM band and lose all relevance.

Los Angeles radio has never sounded so bad.  Just recently, LA lost its only Country FM (which has moved to the AM band) which displaced the music of your life format.  While I am not fan of either types of music, Los Angeles lost something, variety in programming.  Forget about Triple A/Rock formats, all gone to Spanish formats.  

If you live in Los Angeles and want to listen to something other than Spanish, talk, hip-hop, R&B, grung metal(alternative) or a classic rock hybrid (JACK / Movin formats) you are forced to the web / satellite radio.

Where is Pirate Radio when you need it?  (Pirate Radio was the last unique format Los Angeles had along with MARS FM and World Class Rock 101.9)