The USA's largest radio station owner is planning to cut $400 million from their radio operating budget. The cut will introduce a new cross format among the stations allowing them to syndicate shows across the hundreds of stations Clear Channel owns. The New York Post says, "Restructuring will include layoffs across the company's radio, outdoor advertising and international divisions as well as cuts to programming budgets and consolidation of back-office operations."

Sources told the Post that Clear Channels planned cuts will happen January 20, coinciding with the inauguration of President-elect Obama. The Post reports that "Clear Channel managers are hoping they can slip in the layoffs while the press is preoccupied with Inauguration Day festivities."