Broadcast Radio Threatened By New Technologies

Mark Ramsey in the Mercury’s Radio Marketing Nexus writes about how new technologies are challenging broadcast radio, "The phenomenon of podcasting will allow listeners to get both music and non-music content while bypassing radio of any kind…  Meanwhile, my sister doesn’t listen to radio. Her office, her co-workers, and the hundreds of listening quarter-hours they represent every week belong to streaming audio, which will only grow as high-speed connections become ever more ubiquitous… High-speed Internet connections to cell phones are on the horizon – and (unlike radios) cell phones are commonly upgraded every two years… WiFi will be widely available and free to all in cities like Austin, Portland, Philadelphia, New York City, San Francisco and others… Reuters reports that ‘Slightly more than 100 U.S. cities…are setting up wireless networks now…[and] close to 1,000 local governments worldwide have plans in the works…" 

Now doesn’t seem like a great time to buy Clear Channel stock; does it?