Clear Channel Europe CEO, Justin Cochrane was interviewed this month by The Media Leader and we wanted to share some of his insights on is impressions of Clear Channel Europe sales and the move to become a US based business.

On the sale of the remaining Europe assets.

“I can’t really talk about what happens next, but it’s clear that it’s highly likely to be a sale of the rest of the international bits of the business because that’s the only way you can become a US-only business.”

On his mission over the short term.

“find the right owner for the rest of the European business in the right time.” Cochrane said the new owner would likely be “somebody that really buys into the media, wants to invest in it and buys into our plans.”

On the overall focus for Clear Channel

“[being] a US-only business gives you lots of tax breaks. It positions the company better, our big competitors in the US are all REITs, because competitively it’s a better way to operate.”

Insider’s Take: No surprises here. We have often talked about the the US assets being the strength of the business.  An eventual move to REIT status will be a smart move for Clear Channel.

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