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CNBC Blasts Rush Limbaugh Deal: 'What Are These People Smoking?'

A day after news of Rush Limbaugh's shiny new $400 Million radio deal came out, CNBC contributor Michael Wolff took to the airwaves and blasted it as a "monster error."

Wolff criticized the deal that locks Limbaugh in with Clear Channel Communications through 2016.

"I think it's a monster error," Wolff said. "I know I'm sitting here saying, 'What are these people smoking?' You know, the truth is that Rush Limbaugh has been – he's ridden the rise of conservatism for 25 years and I don't, maybe nobody quite, quite has been following the news, but that's coming to an end."

"It's going to be over and Rush Limbaugh in a relatively short period of time is going to look like a really kind of out-of-it kind of oddity," Wolff said. "And I can not for the life of me imagine how someone could have made this deal."

Wolff asserted the era of conservative talk radio is drawing to an end and based his assessment on the success of presumptive Democratic nominee Sen. Barack Obama.

"Things change and when they change, they change in a big way," said Wolff. "And we are now looking at that kind of change. It's the kind of change, which if you run a large public corporation, you're supposed to look at and say, 'Hey, wait a minute. There is something here and this is something that we have to take into consideration.' When change comes, it is going to be devastating and absolute."

July 4, 2008 |

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