DIARY: Mansfield pays heed to Parry's wise words

Everyone knows Roger Parry, the chief executive of Clear Channel International. David Mansfield is certainly familiar with him. Capital Radio's head honcho has been trying to bat away a Clear Channel takeover bid all summer and has pissed Parry off in the process.

Mansfield will therefore no doubt be interested to hear about Parry's new book, entitled The Role of the CEO.

It's full of salient advice. Parry believes that the challenge for chief executives "is the creation of sustainable, long-term value, not just bumping up short-term earnings and share prices".

Everyone here no doubt echoes that sentiment. And I'm sure Parry will join us in congratulating Mansfield for defending Capital's brand values by opposing a sell-off to the Americans.