Clear Channel Media + Entertainment CEO Bob Pittman made another live appearance on CNBC. Notice that, once again, he is allowed by the interviewer to freely blather about his latest press release without being pinned down and asked the most important questions:
- After accounting for debt service, does your company make a profit?
- In what year will your company finally break even?
- Do all of these press releases about your IHeartRadio app and deals with record companies mean anything if your company won’t be seeing profits for the foreseeable future?
Note that CNBC interviewer Carl Quintanilla calls upon Pittman’s “insight.” With $21 billion in debt, does the “insight” of the CEO of a company that appears not to turn a profit and appears to be leveraged to the hilt have any value at all? What is CNBC’s agenda in giving Bob Pittman a free ride?
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