Music’s Mental Health Crisis

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  • Liam Payne’s death repercussions on the music business.
  • Why musicians are succumbing to mental health issues now.
  • A warning about social media.
  • Missed opportunities for a tuned-out radio industry.

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Beasley Dismantling Greater Media

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  • The thinking behind tinkering with their major revenue markets.
  • What last week’s brutal Philly layoffs mean for the company.
  • Excruciating details on talent getting screwed – with recent contract extensions.
  • Can they maintain ratings and revenue by voice tracking? The evidence.

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What Radio Listeners Would Tell Researchers

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  • The list of complaints that go beyond the obvious.
  • How to fix every objection for free.
  • The missing element for happier music format listeners.
  • How younger audiences feel about news.
  • The 2 biggest mistakes research would have prevented before hurting radio stations.

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Beasley is on the Clock

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  • The single best telling indicator if Beasley is going to go under.
  • Other signs that add up to financial trouble ahead.
  • Comparing Beasley to Audacy, Cumulus and iHeart at the same point in time.
  • The new business Beasley is embracing instead of podcasting and digital.

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Playing Politics with Audacy

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  • How Audacy is being hurt by politicians and regulators.
  • Other license renewals being kicked around by politicians.
  • How Audacy bankruptcy ‘judge shopping’ backfired.
  • Potential new scrutiny for Beasley, Urban One, Salem.
  • What Cumulus and iHeart’s 2nd bankruptcies will have to deal with this time around.

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It Feels Like Radio Is Giving Up

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  • Compelling evidence that hedge fund owners have had enough.
  • What to expect from “The Great Retreat”.
  • The repercussions from Walls Street’s “dark future”.
  • How to increase your cume as a defense strategy.
  • Advice for advertisers caught in hedge fund hell.
  • And, if you’re NOT going bankrupt and staying in business, a checklist of mistakes to avoid.

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Engagement Not Quarter Hour

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  • Tearing up the way radio is measured.
  • The surprising leader in rebuilding a radio station’s audience.
  • How to capture more listeners in a world with an 8-second attention span.
  • The biggest turn-offs that can be fixed.
  • The only thing you should pay a program director for.

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A Warning About Radio’s Digital Revenue

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  • How radio’s approach to digital advertising is about to do a 180.
  • The net effect on spot advertising.
  • “Digital Dating” – why you may be seeing more of it.
  • A new side hustle that could redefine a station’s digital strategy.
  • An unanswered question: will market managers still be pushed to package radio and digital at their discretion.

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Older Audience Listening Habits Changing

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  • The first significant changes in loyal radio listeners.
  • How stations are inadvertently letting older listeners get away.
  • Hacks to stop older audience erosion.
  • How to bolster time spent listening.
  • The risk to popular classic hits, classic rock and adult contemporary.

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Paywalls, Subscriptions and Younger Audiences

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  • Will CNN’s paywall work, will SiriusXM get young people to pay, is Spotify going to raise rates and keep subscribers?
  • What in-demo consumers ARE willing to pay for.
  • The viability of ad-supported revenue models.
  • The appeal of free and freemium.
  • The one thing – and only one – that must be present to charge a premium.

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Audacy as a Private Company

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  • The Soros plan to hideout.
  • What David Field must deliver and how long he has to do it.
  • One thing that can totally derail Soros’ growth plans.
  • Why Audacy competitors may have to rethink their strategy.

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Nielsen’s Proposed 3 Minute Quarter Hour

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  • The net effect of lowering the listening threshold with advertisers.
  • How the move works with today’s shorter listening spans.
  • The current lost listening that would be recaptured.
  • The effect on quarter hours now loaded with commercials.
  • And an even better idea that is not being considered that would help every station without signaling declining audiences.

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How Listeners Would Reinvent Radio

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  • Two of listeners biggest problems with radio right now (and too many commercials isn’t one of them).
  • The music format stations are not doing that would get them to tune in.
  • The spoken word format that no station is doing and probably won’t. Non-listeners would love it anyway.
  • For music stations, a major addition that would invite non-listeners to sample.

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Soros Looking to Become iHeart

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  • Why those worried about Soros’ political intentions in getting into radio will really be worried when they see his game plan.
  • Why they are eying iHeart.
  • What to watch as Soros stalks a second acquisition.

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Digital Games Radio Stations Are Playing

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  • One group is so desperate, it is investing in this thinly disguised digital venture – with no evidence it will work.
  • What any honest market manager will reveal (off the record) about their radio group’s latest digital incentives.
  • The games stations are playing with digital revenue numbers (don’t get any ideas).
  • Market managers beware – high pressure corporate tactics are coming.

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What the FCC Has Against Audacy

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  • The unspoken damage the FCC is doing to Audacy.
  • Why other radio bankruptcies got the green light to emerge quicker.
  • How this delay jeopardizes the Soros plan to rebuild Audacy.
  • The delay’s effect on Audacy’s plan to sell, consolidate or shut down some stations.

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The Rise of Digital Agencies

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What’s killing radio’s digital business?

  • Why groups that had been growing digital or holding their own the past few years are up against a knockout punch.
  • What’s in it for this new breed of digital agencies.
  • The deal that is so good, stations can’t match it.
  • The amount of digital revenue on track to disappear.

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The ‘Enshittification’ of Radio – Hedge Funds Next Moves

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  • What hedge-fund owners are going to do next to salvage their radio investments.
  • If you’re in sales, your job is about to change radically.
  • Big game hunting will be out to eliminate another radio employee.
  • If an air-personality has a job within the next few years, here is what it will look like.
  • The physical radio station of the future reimaged by hedge funds.

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My NYU Students Are About to Surprise Media Execs

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School has resumed and with it more observations about how the next generation is viewing the music and media space – I have found tracking their changing opinions very helpful in understanding the changes ahead.

  • Their real time take on radio and satellite.
  • A potential snag ahead for streaming music services that have replaced radio in their lives.
  • They are suspicious of AI but there is one significant exception.
  • How their musical tastes differ from the previous generations. Don’t assume.
  • The type of podcasting that they might be more receptive to.

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Beasley Kicks a Beasley to the Curb

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Beasley is in big trouble – stock price of 56 cents, delisting notice pending, a recent offer to water down shares of stock to kick the can down the road and avoid bankruptcy, but with all this, wide-scale nepotism has finally hit a bump in the road.

  • The Beasley that gets kicked to the curb.
  • What they’re thinking as they stare down bankruptcy.
  • How the boss mandates the way market managers must fire employees.
  • Their new digital side hustle compared to their previous $30 million digital bust.
  • What Beasley’s are willing to give up to save the company.

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SiriusXM’s Last Chance

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  • How they are botching the pivot away from in-car paid subscriptions.
  • Their biggest potential success that was right under their nose could have made them a digital powerhouse.
  • A second look at their recent $200 million in podcast investments.
  • The plan to morph more as “free radio”.

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iHeart Lenders Turn on Each Other

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  • What is the new “creditor on creditor violence” at iHeart.
  • How it works and who gets screwed next.
  • Implications for buyers and refinancers who need to borrow money as lenders get cold feet.
  • The way iHeart is playing its largest lender against the smaller ahead of another reorganization.

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Podcasting is Becoming Streaming Music

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  • Undeniable myths about a nascent industry.
  • Why streaming music apps can help predict the future of podcasting.
  • How to deal with the shortest audience attention spans with the longest podcast content.
  • What we know about radio sales teams that are tasked with also selling podcasts.

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The Efficacy of Pop-Up Stations

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  • Hit and run formats are popping up in increasing numbers – their future.
  • The reason Emmis is replacing their rental tenant ESPN with a Pop-Up station on 98.7 in New York.
  • Which cohort benefits most from Pop-Up stations.
  • How to measure audience acceptance.
  • What administrative and sales structure will look like.

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Audacy’s Turnaround Hopes

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  • Why Audacy is brimming with optimism.
  • How they are handling the talent and managers needed to turn the company around.
  • What they are disinvesting in next.
  • One company has Audacy’s number and is helping to drive it under.

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Radio’s Self-Inflicted Wounds

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  • Digital competitors have peaked so why has radio not rebounded – one reason.
  • The present-day effect of ratings on revenue.
  • Why radio stations refuse to try something new.
  • What’s driving the demand for inventory.

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What’s Next for AM Radio

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  • A new opportunity for owners to offload AM stations they cannot afford.
  • The advantages of owning an AM station – 3 undeniable new benefits.
  • How to deal with broadcasting on the older-skewing AM band.
  • A warning for FM operators that they are currently ignoring.

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The New Saga

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  • The first efforts of post-Ed Christian Saga.
  • How “old school” Saga plans changes.
  • The catalyst for reinventing the radio group.
  • What 2 things have deteriorated 50% prompting a new way forward.

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The Good News for Radio

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  • What’s next after current owners exit the industry.
  • The Airbnb ownership model for radio.
  • The exact right moment to buy a well-discounted radio station.
  • One giant red flag:  make this mistake and kiss your investment money goodbye.
  • The effect the digital age will have on buying linear radio stations.

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Beasley’s Bankruptcy Rehearsal

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  • What to expect when you’re expecting Beasley to be the next bankrupt radio group.
  • How they are going to handle content creators and managers.
  • Details of their plan to resuscitate the company.
  • Which one big mistake caused all their trouble.
  • What would George Beasley do?

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What’s Holding Up Audacy

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  • The reason for trying to delay approving Audacy’s bankruptcy.
  • How one competitor is rubbing Audacy’s face in their troubles and making money from it.
  • The end of all-news on WCBS-AM -- a one-off or canary in the coal mine.
  • The non-political Soros plan for Audacy.
  • Who is trying to screw over Audacy’s urgent emergence from bankruptcy.

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iHeart’s 2nd Bankruptcy Bombshell

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  • What major move iHeart has up their sleeve to survive the company’s growing and untenable debt.
  • More layoffs, but even that’s not the big bang they’re planning.
  • Wall Street whispers of how iHeart is about to go dog eat dog.
  • Bloomberg: how iHeart will  “profit from the mayhem”.
  • What it means to their radio business.

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PUBLISHING NOTE:  Cheryl and I are going to take a few days off to recharge our batteries before NYU resumes classes in a few weeks and the music/media space heats up once again. This seems like a good time.  Thanks for being part of our group that cares about radio, media and the music industry.  See you in a few days --  Monday August 26.

What Happened to Townsquare’s “Digital First”

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  • Why Townsquare’s best-in-class digital operation has hit the wall.
  • What it means for competitors still going whole hog into digital selling.
  • Is the fall off in radio’s digital sales long-term or temporary?
  • The revised strategy for taking on Meta, Google, local newspaper’s digital offerings as well as those of Yellow Pages.
  • Before spending another dime on digital, study Townsquare’s emerging situation.

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The Repurposing of AM Radio

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  • Is the shutdown of WCBS-AM predictive of the future.
  • What they’re thinking when owners hand over a station to a competitor in the same format who could erode ratings and hurt billing (WCBS-AM to ESPN).
  • What’s ahead for owners unable to sell their AM stations.
  • What other AM stations could be next.
  • Is EMF now going to be a player in renting from desperate owners?

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Playing Politics with Audacy Bankruptcy

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  • What’s behind Senator Ted Cruz’ threats to blow up the FCC’s Audacy bankruptcy approval.
  • A major radio CEO’s possible involvement in this delay/derail tactic.
  • The money trail leading to Cruz.
  • How will this affect the FCC’s final approval of Audacy’s emergence from bankruptcy?

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Radio’s Unexpected Digital Meltdown

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  • The best radio digital operation has hit the wall – the evidence.
  • What this could mean to groups relying on digital to cover spot revenue losses.
  • How some groups are distorting digital buys to up their only growth category.
  • Without digital growth there is one serious alternative left.
  • Beware of the “bonus” from hell.

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2nd Cumulus Bankruptcy Delayed

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  • The lifeline call that temporarily saved it from the brink.
  • What just about guarantees a second bankruptcy.
  • Why this is the worst of times for employees but the best for management.
  • Is Cumulus waiting to be rescued by Soros?

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Changing Satellite Radio

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  • Why satellite radio is headed for a radical restart.
  • How they will deal with continued subscription erosion.
  • What stays, what goes and what’s next.
  • How did the next generation of radio lose the next generation that will now decide their future.

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The Soros Plan to Change Audacy

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  • Why the $28 billion Soros Fund is interested in taking over a tiny $500,000 media market cap company.
  • The likely way they scale up Audacy to get bigger – what we’re hearing.
  • What they’re going to do with David Field, the CEO who presided over the Audacy financial disaster – it’s becoming quite apparent.
  • How they will put the failed CBS merger behind them.

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2nd Tier Radio Groups on the Skids

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  • Next up after Audacy emerges from bankruptcy.
  • The ones safe – for now.
  • The radio groups that will defy bankruptcy -- no question.
  • BUT trouble still lingers for the big consolidators – which one has just started negotiating their second bankruptcy already.

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Religion Taking Over Media

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  • EMF gets more aggressive.
  • Another new influential religious owner buys in.
  • How they are naming their prices.
  • What religious owners see in owning linear media as radio is being eroded by digital.
  • The “nuclear option” for sellers without religious buyers – 2 case studies.

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Programming to the 8 Second Attention Span

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The average attention span has decreased from 12 seconds in 2000 to 8.25 seconds in 2024 posing a big problem for linear radio content and commercials.

  • What you can do about it right now.
  • How to find and appeal to niche audiences who are under-served by all media – even digital.
  • Advanced data analytics that can help stations focus their content to listener preferences.
  • The on-air “free sampler” not to just drive audiences to digital content but behind paywalls.
  • Interactive features only radio can do and streamers can’t.

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Programming Against Spotify

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Spotify killed the radio star so trying to compete with an endless music library is a zero-sum game, but there are fresh alternatives:

  • How to beat music streamers by playing the least amount of music – here’s the way.
  • Retrofitting radio as a music early-warning system.
  • TikTok talk – borrowing from the hottest app consumed by younger audiences.
  • Twitter news – the antidote to WINS and WTOP. 

Listen to a stunning reality check about Spotify that will shake you awake to rediscover what radio can do that streaming music services cannot.

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What Will Happen to Indie Owners

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  • Will they survive the meltdown of larger consolidators?
  • Should they get out and investors buy low.
  • The best investment in radio at this moment.
  • Whispers about the future of radio with digital.
  • How small and medium markets will deal with the high price of local.

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Will David Field Survive Soros?

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  • What Field has been reportedly saying to others about his future at Audacy.
  • The case for keeping a CEO who lost billions of dollars of shareholders value.
  • Why Alex Soros might be looking for another CEO.
  • The one thing Field has that Soros can strongly relate to.

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iHeart Firing Yet Hiring for Big Bucks

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  • What iHeart is up to with a reimagined hiring/firing scheme.
  • What we’re hearing about big salary hires.
  • Why this will change the way other radio groups think.
  • The new thinking about required years of experience and big pay.
  • Notable allegations of employee distrust.

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iHeart’s Compensation Inequity

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  • iHeart has not given out cost of living increases to most employees for over a decade, but there is one type of employee they are afraid to lose.
  • What is prompting their change in attitude about compensation.
  • How they set the table for other major radio groups to follow suit.
  • The safest job in radio.
  • 2 case studies: new found money.

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What If iHeart, Audacy & Cumulus All Fail

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  • Audacy is limping out of bankruptcy next month, Cumulus and iHeart face a second bankruptcy within the next few years and most of the remaining radio groups whose stock is trading under $1 are on track to be delisted.
  • Health check of radio’s top 3 groups.
  • Best and worst outcomes for all three.
  • What are the big groups thinking – what we’re hearing about their future options.

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Upset in Political Ad Spending

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  • New surprising projections are sending panicked group execs back to the drawing board.
  • How the radio industry’s political spending is a self-inflicted wound.
  • What to do, how to fix it and win back defectors in time for November.
  • Are radio ads that used to be the most affordable now too expensive?
  • How to save a political buy that is turning to digital and podcast.

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Audacy in the Blast Zone of Deregulation Bombshell

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  • How anyone unhappy with George Soros owning a large share of Audacy can now block it or fatally delay it by filing one piece of paper.
  • If the FCC fails to act in favor of the pending waiver Soros needs, then what?
  • How Audacy is quickly losing control of a critical timeline out of bankruptcy.
  • The prognosis of a fresh start promised by Audacy to advertisers and employees in light of recent developments.

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Audacy Bankruptcy in Danger

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  • The self-inflicted wound that Audacy is making that could have uncertain consequences.
  • The possible hitch that could develop with Soros Foundation’s deal to rescue Audacy.
  • Why debtors who have taken a financial hit may have second thoughts over the next six weeks.
  • The “Get Out of Jail FREE” card Audacy is banking on.

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The AM for Every Vehicle Fraud

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  • Uncovering the lies the NAB and politicians are spreading about AM.
  • The bullying tactics being used to force automakers to keep AM in cars that likely will backfire.
  • How auto manufacturers are playing with the NAB – their real radio plans revealed.
  • Tricks consolidators are using that hurt AM’s chances to remain as standard equipment in the dash.

Publishing note:  With July 4th in the middle of the week, most music and media execs are taking all or the majority of this week off – have a safe and happy Fourth and we’ll see you next week.

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Mysterious Audacy Bankruptcy Promotion

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  • Why a multi-year extension, huge pay raise and shiny new title to this particular programmer?
  • Did Soros Management Fund sign off on this since they don’t officially have a stake in the company.
  • The Audacy trend of promoting people who are not in danger of leaving.
  • The political capital David Field is gambling on 6-weeks before new investors get to make decisions.

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Radio Yard Sale

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  • The 7 radio owners most likely to sell stations in spite of what they say publicly.
  • 4 of the 7 are not currently on anyone’s list – but that may soon change.
  • The pros and cons outlined for cherry picking each of these groups.
  • Cumulus turned down almost $20 a share and now they’re worth a little more than a dollar – why they refuse to sell.

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Music Declares War on AI

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  • What about fake AI artists on radio – what are the repercussions.
  • The war you want to avoid between the record labels and growing number of AI bots that train their models on content without compensation.
  • Listen to all-AI radio stations and formats that are legal.
  • What’s next after anticipated years of litigation ahead.

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A Big Lie Could Upend Audacy’s Post-Bankruptcy

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  • David Field’s cheapness is arguably why the CBS merger failed – how it’s now threatening the outcome of their lifeline bankruptcy.
  • And the prospect of even more budget cuts than Soros had planned.
  • Documented evidence that Audacy lied about legitimate expenses.
  • Audacy’s chutzpah:  Seeking to get reimbursed for back lawyers’ fees and other expenses for negotiating in bad faith.
  • How resolving it could eat into the $50 million Audacy told the bankruptcy court that it needs for operations when it emerges.

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Audacy’s Fall Firings

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  • What to expect for day one of new ownership – August 18th
  • The new approach to cutting costs at Audacy.
  • The first job category to get trimmed and the last.
  • The closest thing to job security at Audacy (at least for now) is this position – no question.
  • The difference if Field stays or if he goes.

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Cox Layoffs, Really?

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  • Why does the same company that recently offered Paramount $26 billion have to suddenly fire radio staff making less than $100,000 a year.
  • Look who is breathing down their necks now and forcing their hand.
  • Does this cost cutting affect the status of that Cox-Audacy rollup?
  • With mounting debt, is selling even an option?

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Saga Slipping

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  • Why radio’s most expensive stock and only company with no debt is signaling trouble ahead.
  • What they are going to do about it.
  • How did the radio group with the highest stock price start declining.

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Digital Switch-Pitch Killing Spot Sales

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  • Why radio groups are training their sellers to sell digital even when advertisers only want spot – believe it or not, there’s an explanation for this.
  • A startling story of a happy radio advertiser who was spurned by a top radio group that would only talk about selling digital.
  • “It’s almost impossible to talk about radio advertising” – an actual case study that is representative of radio’s own move away from radio.
  • How the 3 biggest groups handle the radio/digital issue.

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The Big “Make-Me-An-Offer” Market for Sale

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  • The big city multi-market cluster for sale at “make-me-an-offer” prices.
  • How radio groups are finding buyers in a market where few exist.
  • The method they use for raising quick cash to avoid default.
  • So why hasn’t Cumulus been willing to sell standalone KABC-AM?
  • Stations with sports rights contracts appear off limits – here are the easier ones to sell.

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Car Radio’s Future

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  • The big changes that haven’t happened yet.
  • Putting a stop to pushing radio out of cars.
  • How automakers are reevaluating FM.
  • Why pressuring manufacturers is backfiring.

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Audacy Weaponizing Bankruptcy

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  • How they are becoming tax deadbeats.
  • Tactics being used to bully creditors.
  • A pathetic 9-minute audio clip that shows how low Audacy is willing to go to burn anyone in the way of their bankruptcy.

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How Tower Operators Fleeced Radio

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  • How they made out compared to radio groups
  • The group that blatantly refers to its tower deal on their balance sheet as “financial liability” – their words.
  • How the tower fire sale specifically affected iHeart, Audacy, Cumulus, Townsquare, Beasley and Cox.
  • The group most likely to go under first under the weight of a bad tower sale.

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Record Selloff of iHeart Stock

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  • What triggered the biggest one-day selloff of iHeart stock since it started trading on the Nasdaq.
  • How it affects a potentially interested buyer.
  • Why the market is suddenly souring on iHeart’s future.

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Audacy Refusing to Pay Millions in Back Taxes

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  • How this revelation might affect FCC’s approval to emerge from bankruptcy.
  • What Audacy is claiming about their longtime suburban Philly headquarters.
  • The effect on their balance sheet if they are ordered to pay up.
  • Repercussions if this claim is allowed to play out in Pennsylvania courts.

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New Date to Watch for Audacy

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  • The trouble that’s brewing while Audacy waits for FCC approval of their bankruptcy plan.
  • What could go wrong.
  • If the bankruptcy isn’t approved by this date, all bets are off.
  • The stumbling block to what usually is a fast process to exit bankruptcy.

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Old Folks Radio

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  • The first music radio FM format built today specifically for older audiences.
  • And it’s number 5 in the latest Nielsen’s (6+).
  • How they make it economically viable.
  • Here’s how to buy another 10-20 years of longevity even in the digital age.

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How Cumulus Blew $100 Million

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  • Yes, they walked away from a return on investment that would have been worth the current total value of Cumulus – here’s how.
  • The internal fighting that tried to stop the CEO and board chair from walking away from a huge pay day.
  • Why they fought so hard to unload a money machine.
  • And how their stock price would be double what it is today if not for this one crucial mistake.

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Underlying Soros Fears

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  • The real reason Soros Foundation controlling Audacy worries almost everyone.
  • Their big plans to roll up several radio groups – should competitors be worried?
  • The prospect of Soros hiring a heavyweight radio executive to take over from David Field.
  • Is the Soros strategy a build-and-run or stay-and-play?

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See you after Memorial Day –  And, as always, thanks for your support!

EMF CEO Out – Why?

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  • Is it a signal that EMF is done buying commercial stations on the cheap?
  • Financial troubles?
  • The profitability of EMF stations in attracting donations.
  • What this means for commercial broadcasters who only have EMF as a potential buyer.

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The Vanishing Market Manager

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  • Why market managers are increasingly being fired and eliminated while survivors are being forced to do what they know is wrong.
  • Coming soon: private equity radio owner’s “better idea”.
  • Outrageous duties now being forced upon market managers hampering their ability to maximize revenue.
  • How this management shortfall is starting to trickle down to sales managers.
  • An honest generic want ad for today’s market manager that is hard to argue with.

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Lew Dickey vs. Mary Berner

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  • How Mary Berner ousted Lew Dickey to drive Cumulus into bankruptcy.
  • The person to blame for putting Berner in as CEO where she has presided over a 70% decline in earnings.
  • Future battles: a suitor looking to buy stock while it is so cheap.
  • A potential hostile takeover.
  • Where Soros comes in to Cumulus’ future.

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Slumping iHeart Radio Revenue

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  • Sales shortcuts revealed.
  • Advertisers pinpoint the radio sales problem stations are ignoring.
  • Their biggest complaint unthinkable even a few years ago (and it’s not rate).
  • This is the radio group that had it right and their bottom line reflected it.

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Why Can’t Anyone Make Money in Radio

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  • The self-inflicted wounds that go deeper than constant layoffs.
  • 7 things that – if fixed – would guarantee revenue growth, no question.
  • How the pressure to generate digital over on-air sales is tracking.
  • The radio groups that cannot be fixed.
  • What to do with digital and podcasting.

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When Beasley Will File for Bankruptcy

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  • Take out your calculator, based on the Cumulus and Audacy bankruptcies that proceeded Beasley, here’s what could extend their lifeline or abruptly throw them into bankruptcy sooner.
  • The efficacy of a potential reverse stock split that they are considering,
  • The one telltale move to watch for – when Beasley does this, no question they’re going down.
  • How long before Beasley initiates another round of deep layoffs like last week.
  • Why they are firing programming and content people above others.
  • My calculation of “B” date (so far, we’ve called 3 radio bankruptcies scarily on target).

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SiriusXM Hits the Wall

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  • The mostly ad-free subscription model is in freefall -- their urgent attempts to win them back.
  • There is no replacement for Howard Stern as they allude to – what’s ahead without Stern looks different than the company is saying.
  • Fewer paid subscriptions and more advertising – the chances of that happening.
  • Why their digital bet on Pandora has still not paid off.
  • How they plan to stem the radio subscription losses with an unproven product.

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The Cumulus Compensation Ploy

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  • May 2nd Cumulus had their annual shareholders meeting and they were not talking about what their angry investors did.
  • They approved one thing – their account firm.
  • When asked to re-elect their board of directors, a surprising and resounding outcome.
  • The company is still laying employees off and shrinking operations so when they asked shareholders to show a financial vote of confidence in them, an even greater surprise.
  • What’s really going on here – a questionable debt exchange deal, a second bankruptcy and a growing rift between investors and their top management.

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What a Soros-owned Audacy Means

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  • Is influence or investment driving the Soros purchase of Audacy?
  • Where Cumulus stands in all of this – yes, Cumulus.
  • It isn’t just bankrupt companies Soros is after: The prime radio group they are eyeing as part of a three-group rollup.
  • What has conservatives worried about the Soros deal beyond political clout.
  • A person and a company to watch under the radar in this rollup.

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Shareholder Rebuke of Cumulus

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  • Cumulus has upped their offer and delivered the needed support to do a debt exchange that buys them more time, but there is a big downside.
  • Shareholders are in ill humor as they recently rebuked the company, its CEO and c-suite executives – here’s what Cumulus had to admit to the government.
  • Cumulus gets a few more years, debt holders get a higher payout but it’s their next move that matters most.
  • The best outcome that can be expected from this lopsided debt exchange.
  • How both equity and debt investors are likely to get screwed by Cumulus.

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Religion as the New Hit Radio

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  • Why EMF’s successful model is being overlooked by commercial stations.
  • Salem’s increasingly irrelevant religious programming.
  • How to borrow from the EMF model.
  • And 3 innovative ways to monetize it (not currently being done on a non-com).
  • How to be EMF but with on-air revenue.

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The NPR Crisis

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  • NPR’s undeniable problem that is bigger than wokeness allegations.
  • Can podcasting save public broadcasting even as it failed commercial stations.
  • How young audiences look at NPR today.
  • Uri Berliner’s How We Lost America’s Trust – are these NPR’s problems?
  • How public radio will be directly affected by commercial audio.

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Radio Ad Demand Is Shrinking

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  • How the major radio groups are privately dealing with declining advertising.
  • What market managers are doing to save the day (and their jobs).
  • The non-radio solutions being teed up by radio groups.
  • What some radio groups have turned to quarter by quarter to offset ad revenue declines with artificial cash infusions.
  • Typical market manager response to shrinking ad demand.

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Apollo Cox Troubles

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  • How the hedge fund that bought Cox Media is preparing for the worst-case scenario.
  • The issue of merit raises and bonuses.
  • Why CMG employees are growing nervous.
  • One failed radio group sale a few months back, now these whispers.
  • Evidence that Apollo may be rethinking their media strategy.

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The Audacy Cutbacks Yet to Come

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  • The current 2% layoffs are only the tip of the iceberg – what about the remaining 98%.
  • Who will be targeted and who is safe (at least for the near future).
  • Some are worried about left-leaning politics when Soros takes over but that’s not their most radical idea.
  • Is digital and podcasting immune from the brunt of these layoffs?
  • The sweetest cost saving to Audacy bean counters (the job you don’t want to be in).

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Cumulus Expense Cuts Coming

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  • What cuts Cumulus had to promise to re-fi their debt.
  • What about selling existing assets?
  • The Cumulus employees most directly caught in the crosshairs of this deal.
  • How it affects executive pay.
  • The unusual timeframe of these promised cutbacks.

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Beasley Tees Up Pre-Bankruptcy

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  • The dreaded first move they just made.
  • What’s at stake when Beasley files.
  • How to interpret the expected denials.
  • Why Beasley is using the Audacy playbook that failed to turn their stock price around.
  • Bankruptcy countdown – how long and when.

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The Risky Cumulus Re-fi

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  • They’re trying to renegotiate a debt agreement they can’t afford, but why and why now?
  • The eye-popping concessions Cumulus is willing to make.
  • Why market managers and employees should be concerned.
  • Does this re-fi deal avoid bankruptcy?
  • Could it still blow.

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Will the Soros/Cumulus Rollup Succeed?

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  • The over/under on radio’s most adventurous potential merger.
  • The earliest this rollup could happen.
  • Why is Cumulus so important to Audacy?
  • The political consequences of the left owning an iHeart-sized radio rollup.
  • Even if everything goes smoothly, there’s this almost immovable roadblock.

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The Meaning of Vinyl Outselling CDs

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  • Physical sales keep growing but there is a hidden problem about streaming music that labels are about to address.
  • 3 strategic ideas music radio stations can employ to get in on the trend.
  • How young consumers are in the midst of changing the way they enjoy music (again).
  • The user-generated tools that will soon become available to allow music fans to control the speed of the music they hear and these other factors.
  • TikTok and Instagram Reels have forced a new approach that will make sure labels get paid.

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Alfred is Looking After Alfred (Not Urban One)

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  • How the wheels are coming off at Urban One while the CEO is raking it in.
  • Inside a new compensation agreement filed just before their stock was put on notice for delisting from Nasdaq.
  • The enviable clause that guarantees Al Liggins what other Urban One employees can’t get.
  • Whispers as to why they didn’t file their required federal 10-K form (again).
  • What to expect as the top exec secures his financial future even before the company’s financials are known.

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Details in the Audacy/Cumulus Rollup

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  • The little-mentioned “radio guy” flying under the radar in this deal.
  • What Soros buys after they rollup Audacy and Cumulus.
  • Why Cumulus will force Soros to revert to a hostile takeover.
  • Is this a political play by Democrat Soros?
  • What happens to the forced spinoffs?

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The P1 Podcast Model of the Future

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  • The one podcasting strategy that draws listeners to radio not away from it.
  • How to get around the attention span problem.
  • And attract younger audiences whose attention spans are even shorter than typical radio listeners.
  • How important is video to podcasts.

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Tough Times Ahead for iHeart

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  • The financial indicator setting off alarms.
  • The prospect of fixing it soon.
  • There is a buyer – is iHeart ready to consummate a deal.
  • Whispers about some moves they will make.
  • Structural declining alarms in the financial community.

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Nielsen’s Ties to Boeing

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  • The connection between the mess at Boeing and Nielsen’s troubles.
  • How the same management tactics by the same man delivered the same results.
  • What to watch as financially pressed radio companies are taking another look at rating services.
  • The case for selling radio without ratings.
  • Radio groups likely to dump Nielsen next.

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Why a 3rd Cumulus Debt Extension

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  • What’s behind extending a debt repayment plan that lenders don’t want.
  • The backroom strategy to win over lenders who are consistently turning down 3% more interest for a 3-year repayment delay.
  • What happens if they fail to reorganize $346 million in debt.
  • If successful, where will the savings be invested?
  • The unspoken reason pushing back this debt is so critical to Cumulus.

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The Missed Lesson of TikTok

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  • How most everyone has the fight over TikTok all wrong.
  • There’s something even hotter than TikTok.
  • The real enemy is not the U.S. Congress or the Saudis – it’s this.
  • Radio, yes radio, has a lesson for popular music apps.
  • Don’t forget the Steve Jobs Rule.

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Radio’s Mid-Market Management Purge

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  • It’s starting to happen, which radio groups will run on fewer market managers.
  • Safe spaces to work – but even some of them may cave.
  • In-market vs. out of market management – which do better.
  • Why the war against market managers when corporate is so willing to overpay others.

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Cumulus Testing a “Prepack” Bankruptcy

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  • How their twice rejected upgraded bond offer turned out to be this necessary.
  • Why bondholders would actually like their present deal as insurance against what they see as an inevitable second bankruptcy.
  • What happens if Cumulus refinanced their debt now.
  • Options for selling assets to avoid bankruptcy.
  • Lew Dickey’s last laugh.

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How EMF Is Cleaning Up

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  • Non-profit EMF’s financial revenue revealed.
  • How much they pay their CEO to run 1,000 signals.
  • The system they use to dictate their buying price.
  • 97% of their revenue comes from donations – how much they spend on fundraising.
  • EMF is doing the same thing private equity did after consolidation – with one exception.

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Brutal iHeart Firings

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  • Whispers that a major shakeup of top executives is coming.
  • How iHeart’s current spring cleaning of staff is different.
  • How iHeart reportedly tried to play an on-air talent with a raise on the back of firing his air partner – and it blew up.
  • What to expect as iHeart, Audacy and Cumulus are changing their layoff policy.
  • Case study: slimy, hurtful iHeart firing details.

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Suddenly Cumulus Is in Play

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  • A second bankruptcy has always been on the table, but here is a scenario that Cumulus management is waiting for.
  • A sale? Why Cumulus is vehemently opposed to that.
  • The current chances for another bankruptcy.
  • How Berner is posturing for the best deal to sell the company.
  • What’s in it for her if she does.

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The Grooming of Audacy

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  • First hints as to what Audacy’s new principal owner Soros plans to do.
  • The coming Audacy rollup.
  • Cost cutting 2.0.
  • The outlook for the CBS stations cut to the bone during the merger.
  • If you have a contract with Audacy, you may want to see this.

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Salem’s Quick Cash Strategy

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  • How is Salem not already in bankruptcy.
  • Their humiliating station giveaways to of all competitors EMF.
  • EMF’s unique pricing formula that forced Salem to say “uncle” and sell.
  • Who is the next EMF, a ready and willing buyer of radio stations.
  • The new tactic Salem and others are using to buy time.

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The Viability of Radio Bankruptcies

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  • The percentage of bankruptcies that succeed (vs. fail or file a second time).
  • The bankruptcy problem no one says out loud.
  • Proven indicators of whether a radio bankruptcy will work.
  • Retaining the management that caused the bankruptcy – right move or wrong?
  • What we’re hearing about the radio groups closest to filing Chapter 11 next.

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Radio’s Zombie Companies

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  • All but 2 radio groups have become zombie companies unable to pay their loans and grow at the same time.
  • What it means at the station level.
  • What Audacy (soon to emerge from bankruptcy) is now calling “accelerated performance”.
  • Where’s all the promised digital revenue – it’s booming everywhere but radio, but why?
  • How zombie companies will change the radio industry over the next 18 months.

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What to Expect When You’re Expecting Audacy’s New Board

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  • How soon will Audacy’s new lenders-turned owners oust David Field.
  • The Soros play to takeover Audacy – their intentions revealed.
  • The old board gets dismissed -- this is what replaces them.
  • What we’re watching – things to worry about like a hostile takeover.
  • They’re short on cash already, the incredible place where they are looking.

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Cumulus Default Jitters

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  • Two things converging on Cumulus putting it in danger.
  • Why the extension for a debt buyback.
  • Bankruptcy 2.0 talk.
  • Market managers dish on the company’s strange behavior lately.
  • How Wall Street is reading the mixed signals.

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AI to Decide iHeart Playlists

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  • Results of testing to see if AI has a better ear for hits.
  • Where this leaves iHeart PDs.
  • Is AI safe enough to replace human music and program directors?
  • Best practices for radio if you’re looking for higher ratings.

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Radio’s Untapped Political Spend

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  • New research you can adopt to increase radio’s political ad revenue spend.
  • How radio helps political challengers even more than incumbents – the metrics you can use to up their spend.
  • Update: digital vs. radio vs. local TV (the most effective).
  • Help in using radio to target minorities this fall.

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The Sale of Cumulus

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  • Despite the denials, how Cumulus will get sold.
  • Whose knocking on the door and why they’re not answering.
  • The exit plan – here’s the number it will sell for.
  • Case study of another radio group sale that Cumulus may follow.
  • The Cumulus exec accused of “corporate malfeasance” – and it’s not who you think it is.

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‘Skrinkstation’

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  • Under-the-radar plans to shrink the three largest troubled radio groups.
  • The two most radical on-air savings in the works.
  • And two most notable off-air savings being targeted.
  • Say hello to the new daypart known as “Death Valley” – details.
  • The one line even a desperate radio group still will not cross – yet.

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Cumulus Slipping Away

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  • Why activist vultures are increasingly circling Cumulus.
  • The debt Cumulus never talks about publicly.
  • 3 years of expense cuts.
  • The latest “Hail Mary” to lock in current management.
  • Devolving into an executive compensation scheme – details.

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Hostile Radio Group Takeovers

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  • The activist investors pestering Cumulus.
  • The investor who has put Cumulus on notice that they intend to acquire more stock and take an active role in the company’s management.
  • What Soros is up to buying cheap Audacy debt that even Audacy doesn’t realize.
  • How a hostile radio takeover will work.
  • Why the sudden interest in radio even as revenue continues to trend down.
  • A different kind of consolidation coming.

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Audacy Under Soros

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  • Soros’ anticipated influence on Audacy programming.
  • The other groups Soros would like to roll up with Audacy.
  • The first thing to change when Audacy emerges from bankruptcy with Soros as main owner.
  • The born-again David Field – here’s some evidence of the new man.
  • Why Mary Berner is worried about the Soros-Audacy connection.

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iHeart’s Overly Emphasized Earnings

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  • How they plan to target Audacy and Cumulus for future growth.
  • How they are going to handle their $5.2 billion debt albatross.
  • That second baked-in bankruptcy.
  • In or out on programmatic buying?
  • What’s behind their claim of podcasting growth.

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Cumulus Sharpens Axe

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  • Behind the scenes at local Cumulus stations fearing a potential takeover.
  • What corporate is telling its managers.
  • How Mary Berner is under pressure from inside and outside the company.
  • Market managers give this grim warning to corporate.
  • What started the recent investor activist warning that they intend to be involved in the company.

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Cox Media Group Came Within Days of Being Sold

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  • What blew the major sale up at the last minute.
  • Is Apollo still actively trying to offload its Cox radio acquisitions?
  • The surprising bidder who came this close to owning Cox radio.
  • The money people involved in the failed Cox station sale.
  • How bankrupt Audacy was involved in scuttling the Cox radio selloff.

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Cumulus Fears Takeover Bid

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  • Their “poison pill” cannot stop activist bidders – here’s how they can work around it.
  • The activist bidders who might be thinking takeover.
  • What happened that made Mary Berner hit the “poison pill” panic button.
  • Why a company from Singapore that owns consumer products and no media wants Cumulus so badly.
  • The biggest activist investors apparent intentions regarding Cumulus management.

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Beasley Is Next

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  • How far down the road to bankruptcy is Beasley.
  • Will digital revenue come to the rescue – it’s growing but there is a problem.
  • When a Beasley bankruptcy is likely.
  • Beasley radio markets most at risk.

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The Hole in the Market for Radio

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  • Young demos say what it will take to make them pause Spotify and try radio again in my latest NYU predictive survey.
  • No one is doing this – here’s the formula.
  • Streamers can’t or won’t answer this need.
  • The future of the CHR format.
  • Two examples: A radio personality and a programmer who has done it in the past.

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No Rush to Pay iHeart’s Debt

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  • The main reason cash is being horded.
  • What iHeart is doing with $101.4 million from their BMI windfall.
  • Pay raises for some with that money?
  • An eye-popping fact about the current number of iHeart employees.
  • Big investors are buying into iHeart, why now?

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What Soros Wants by Buying Audacy’s Debt

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  • The Soros strategy for its Audacy investment.
  • Is this a political play by the left-leaning billionaire?
  • How it will affect programming and operations.
  • Who has the power now – first-tier lenders-turned owners or the Soros group?
  • The end game for a $400 million investment in a bankrupt radio group.

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Young Demos and Podcasting

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  • Young demos prefer these podcasts – the ones content providers hate.
  • Emerging info on the different way young people actually listen to podcasts.
  • The most frequented “podcasting” app for the young.
  • Politics is out, what’s clearly preferred may even shock you – no, it will.
  • Is podcasting a business to younger demos.

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SiriusXM Is Retreating from Cars

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  • SiriusXM’s new “free radio” strategy.
  • What they see in podcasting when others are bailing out.
  • Will younger demos pay for the new digital version of SiriusXM – some early anecdotal evidence.
  • Where their spending spree on podcasting talent leaves Howard Stern.
  • To what extent will terrestrial radio benefit from satellite radio’s retreat from the car.

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Investors Turn Negative on Cumulus

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  • Why financial experts are suddenly concerned about the viability of Cumulus.
  • The real problem areas identified.
  • What about selling standalone KABC and others?
  • Westwood One as the canary in the coal mine.

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Investor Trying to Block Audacy Bankruptcy

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  • His petition to the bankruptcy court asking them to blow up the Audacy prepackaged reorganization.
  • How much this investor got burned for.
  • The specific remedies he is asking the bankruptcy court in Texas to invoke.
  • His strategy to stop the steal that mostly benefits Audacy lenders not shareholders.
  • How much trouble is this for Audacy.

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Podcasting Panic

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  • Why Spotify won’t quit Joe Rogan.
  • What SiriusXM knows as it spends hundreds of millions to bolster podcasting.
  • How podcasting panic will affect iHeart, Cumulus and Audacy.
  • Projected effect on radio ad revenue.
  • What’s on the horizon to create new cash flow if podcasting has peaked.

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Audacy Bankruptcy Hurdles

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  • Bondholders accepted pennies on the dollar to enable this bankruptcy agreement – what often happens by the time they get to court.
  • Who will the new lenders-turned owners choose to be on their board – and lead it?
  • Hints from as recently as last week give an idea of how they will proceed in running the company once the pre-pack is approved.
  • The debt issue remains: how will it be divvyed up between take-back paper and restated debt.
  • Will the new Audacy be a rebuild or a fire sale – recent clues tell which way it’s going to lean.

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Private Equity Still Investing in Radio

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  • Why the rush to buy into radio groups that are failing.
  • Even bankrupt groups.
  • The case of a lender injecting over $50 million in a bankrupt radio group.
  • A sampler of little-known private equity investors who have been actively buying radio stocks.
  • What do they know that everyone else is missing about radio’s future.

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Universal’s Yanking TikTok a Radio Warning

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  • What’s the chance that record labels could pull a TikTok on radio by withholding music?
  • Clues from how Universal shut down TikTok and suddenly without warning yanked their music.
  • How aggressive will the labels get?
  • Radio’s lobby group knows all this – why are they willing to risk trouble by resisting performance fees.

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A Must Have Audacy Format is in Trouble

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  • One of their 4 music and revenue staples is showing signs of audience erosion.
  • What this means for a company that’s in bankruptcy and needs every dollar to emerge.
  • The long list of declining stations.
  • They know they have trouble – here’s how their tinkering.
  • The impact on revenue projections if the ratings drop continues.

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The Unspoken Threat of Christian Music Formats

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  • Do commercial radio companies now have something else to worry about as Christian music stations are amassing larger audiences.
  • EMF bought all those distressed radio stations for pennies on the dollar, now look at their plan to compete with commercial broadcasters.
  • Jesus takes the dial but commercial broadcasters answer to a higher power.
  • The real threats of EMF Christian music formats to their competitors.
  • The way to beat non-coms at their own game.

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Non-Radio Buyers for Audacy?

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  • Interest in buying Audacy out of bankruptcy reportedly amps up.
  • One anxious buyer has done business with David Field.
  • A foreign investor reportedly pursuing it under the radar.
  • What it would take for lenders-turned new owners to flip Audacy.
  • Why the sudden burst of interest in buying other distressed radio groups – we name a few companies.

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Why iHeart Is Consolidating Sales

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  • You know those big ad buys iHeart likes to do to keep money away from competitors, look how this affects that.
  • Sales consolidation’s impact on local radio stations.
  • If you’re an iHeart competitor, this is what their new sales consolidation means to you.
  • What happened to their programmatic buying push – you’ll be glad you asked.

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Changes Expected Under Audacy’s New Owners

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  • First things first – the things the new owners burned in bankruptcy are champing at the bit to carry out.
  • During year one some unexpected changes (remembering that these new owners never ran even one radio station).
  • Down the line some expected and unexpected moves that they gave themselves the power to do in the bankruptcy pre-packaged agreement.
  • Reading the new owner’s digital intentions.
  • What I’m hearing about a company reportedly looking at buying all or part of Audacy.

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The Next 3 Bankruptcies

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  • The identity of the next 3 radio groups to file for bankruptcy.
  • Apollo is the largest private equity owner of radio and their investments are in trouble – why?
  • How private equity sees the future of radio ownership from their perspective.
  • A litmus test for whether now is the best time to buy a highly-discounted radio station.
  • What happens when iHeart, Cumulus and even Audacy file second bankruptcies which are being predicted.

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The Audacy Retention Bonuses

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  • This is what motivated Audacy to shell out $1.3 million in retention bonuses to people going absolutely nowhere.
  • But here’s the company’s claw back clause which is rarely noticed.
  • Why Audacy is increasingly skittish about the pre-packaged bankruptcy going through.
  • What could happen next if it doesn’t – and yes, these types of deals tend to blow at the last minute.
  • Audacy’s zero tolerance policy on bankruptcy talk.

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The Dissolution of Cox Media Group

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  • What is making private equity owner Apollo jittery about its $1 plus billion Cox Media Group investment.
  • Their plans for the Cox radio stations that have yet to be sold.
  • What a mishap this big means to Apollo’s bottom line.
  • The exit strategy detailed.
  • If you’re interested in cherry picking CMG while it’s down, one piece of advice.

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Competing Against Bankrupt Operators

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  • Three weaknesses to exploit against iHeart, Cumulus and soon, Audacy.
  • Something is developing with the available radio audience – this pins it down.
  • Nielsen ratings doesn’t just underreport young listeners – how they force radio to make avoidable programming mistakes because of it.
  • Is repetition still important to grow radio ratings in a digital world of endless discovery?
  • The new low range demographic for today’s radio listener.

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Audacy’s Confidential New Startup

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  • I was given the opportunity to view the post-bankruptcy plan Audacy is selling to the bankruptcy court – sample some of their most audacious promises.
  • One promise: a startup that will make $20 million – details.
  • What they are telling a judge about their ability to grow radio spot and network revenue by 2027.
  • After underachieving podcasting for years, here’s their projected performance.
  • The chance this harmless Chapter 11 filing will be converted to a Chapter 7 liquidation.

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Shutting Down Unprofitable Stations

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  • How iHeart, Cumulus and Townsquare are increasingly pulling the plug as a reality of doing business.
  • Why don’t they just sell them for whatever they can get?
  • Could Audacy’s new owners be hot to shut down some stations costing them too much money to bother?
  • The reason AM stations are targeted the most, but these kinds of FMs aren’t safe.
  • The two reasons that forced owners’ hands.
  • These markets are off limits – period.

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Audacy’s New CEO

Read the full article now    

  • What’s the status of Dan Mason returning as a board member to choose the new CEO – still interested?
  • A possible sleeper candidate not to be dismissed.
  • Is it a done deal with David Field getting kicked to the board?
  • Here’s how to tell whether the lenders-turned owners are serious about fixing Audacy or gutting the company.

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The New Audacy

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  • The Turnaround Plan revealed -- what Audacy is promising the bankruptcy courts in their words – I wish I could see your reaction through your phone when you read it.
  • Are they really considering letting David Field get another bite of the apple?
  • And let’s get down to it – what will happen to COO Susan Larkin and digital chief J.D. Crowley after February or March when the reorganization takes effect.
  • The new lenders-turned owners’ position on layoffs and cost cuts.

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Audacy Fails to Dump Enough Debt

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  • As incredible as it may seem -- why the drop from $1.9 billion to $350 million in debt will still not be enough.
  • Audacy’s big mistake in their bankruptcy filing that poses a problem even when they emerge.
  • Why their newly converted equity will continue to decline in value risking another default on the reinstated debt.
  • The impact of programmatic buying when interest on their $350 million loan needs to be repaid.
  • Red flag for the 3 radio groups that will be filing for bankruptcy next – don’t make these mistakes that Cumulus, iHeart and now Audacy made to avoid being a “zombie” company.

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Audacy Asset Sales Coming Next

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  • Bye, bye 1010 WINS and a group of other stations – the new owner’s aggressive sales plan.
  • But not FM stations, right?
  • The first indication that they plan to do a Cumulus-type WPLJ selloff of properties – and most importantly, the timetable.
  • What’s not for sale – that’s a good question, but there is a good answer.
  • What happens to podcasting and digital beyond what the outgoing Field regime is publicly saying.
  • A new CEO is coming -- look at what scorched lenders actually got Field to insert in the pre-pack agreement to guarantee it.
  • How the first-tier lenders rammed language down David Field’s throat to make him sing for his supper.
  • This is a real bankruptcy despite the fact that it is agreed to – Audacy already needs a $57 million loan to hold it over just until the court and FCC approve the bankruptcy – details.

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Bankruptcy Details Audacy Is Still Hiding

Read the full article now    

  • David Field, his father, Weezie Kramer and Joel Hollander are on the board of the sunsetting company – what the lenders-turned owners are going to do that will totally shake up Audacy.
  • What happens to Audacy stock worth 20 cents before Sunday’s bankruptcy filing.
  • Why are they “judge shopping” – Audacy filed for bankruptcy in Texas (they’re headquartered in Philly).
  • Field is talking “business as usual” as if he’s going to remain as CEO – what he’s not saying (at least publicly).
  • If this bankruptcy gets approved it wipes out almost all of Audacy’s debt -- will that be enough?
  • Audacy is talking like a pre-packaged bankruptcy is a slam-dunk – what could go wrong.

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The Return of Dan Mason to Audacy?

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  • Is Dan even interested? I asked him.
  • What position makes the most sense for the person who once cleaned up after Joel Hollander previously at CBS Radio.
  • What about Hollander (current Audacy Lead Independent Director), is he out with the new owners or does he get a second chance.
  • And a third executive who may take a run at David Field’s job as CEO.
  • The lenders become the new owners within weeks – usually (as per the Cumulus bankruptcy) they replace the board and start selling off assets – will the new Audacy follow that plan.
  • Attention Audacy: Here’s what Mason would likely do to turn the company around.

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New Owners for Audacy – What We Know

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  • The Audacy bankruptcy is a done deal – a preview.
  • The lenders get the company but does CEO David Field get to keep his job after that hot mess – details.
  • How the new company will somehow emerge with half its debt gone – why couldn’t Field do this?
  • The final decision on laying off more people under new ownership.
  • Survivors will get this take it or leave it offer.
  • The good news is that the implosion of Entercom/CBS/Audacy finally ends in the very near future – the bad news is …

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Has Radio Reached Peak Digital?

WHERE’S ALL THAT DIGITAL REVENUE?

  • What financially-strapped radio groups know about the digital revenue stream. 
  • Is it digital dimes or digital dollars? – how the big radio CEOs are playing it.
  • Look out market managers – radio groups are looking at the Cumulus model.

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The Leash Gets Shorter for Salem

THOUGHT THE RELIGIOUS FORMAT WAS BULLETPROOF …

  • How Salem blew a good thing, cratered stock to 76 cents and forced bankruptcy planning
  • A recent and embarrassing humiliation from competitor EMF
  • A tightening on finances by jittery lenders

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The Incompetent Radio CEO

HOW DO THEY KEEP THEIR JOBS …

  • How they’re getting away with the destruction of radio 
  • Next year’s 3 lifeline moves to watch for as almost every radio group dodges bankruptcy
  • Dramatic proof where radio is still a booming business
  • The 2 radio groups next up for bankruptcy as soon as 12 months as their CEOs scheme to stay in place

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Losing Confidence in iHeart

WHY IS iHEART SO UNUSUALLY QUIET … 

  • What’s going on inside iHeart as they burn cash and stock price plummets 72%
  • iHeart in 2024 – the writing soon to be on the wall
  • What’s next – prepare for what’s likely to shake up the company

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Why 30 More Days

THE PALACE INTRIGUE …

  • A delay of the inevitable for this important reason.
  • What’s really stalling the Audacy bankruptcy.
  • Read how it ends -- 30 days ahead of time.

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Audacy’s High-Stakes Showdown

INSIDE …

  • Who forced the 30-day bankruptcy extension
  • The reason Audacy is slow rolling its debt payments 
  • The contentious issues the sides are focusing on now 
  • Chances of an out-of-court settlement
  • It will all come down to 1 of these 3 outcomes in early December

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Pay Raises for Failing Radio CEOs

INSIDE …

  • The secret maneuvers to reward radio CEOs even as they are mandating cost reductions and employee RIFs.
  • Audacy CEO’s retention bonus – where was he going to go?
  • The reason Susan Larkin and J.D. Crowley stepped in it as part of an Audacy plot.
  • Outrage over a Cumulus board motion recently passed.
  • A c-suite heist as radio groups go into bankruptcy.

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Cumulus Q3 Brings 2nd Bankruptcy into Focus

INSIDE …

  • Now there is a time frame for the second Cumulus bankruptcy (it’s notable that we’ve called them all so far).
  • Revenue way off so where’s the money coming from until then?
  • A big decision on programming.
  • A new wrinkle in the desperate sale of assets.
  • The sudden cash burn.

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How Much Time Does Audacy Have

Watch David Field pull off Audacy’s bankruptcy.

Today, what we’re hearing on …

  • That 30-day extension of a loan interest payment.
  • The chance of a last-minute out of court reorganization with lenders.
  • Pinpointing Audacy’s bankruptcy based on iHeart and Cumulus that went before them.
  • A mini-bankruptcy?

The answers start here 

Click to read: Podcasting’s Reverse Effect on Radio Revenue …  Concern Over iHeart’s EarningsCumulus Q3 Revenue RevealThe 2 Never-Mentioned Radio BankruptciesChanges in Musical Listening HabitsGreg Ashlock’s iHeart DemotionBeasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back On

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Podcasting’s Reverse Effect on Radio Revenue

Spotify embraced podcasting and learned its lesson the hard way but will radio?

Today …

  • A gambit that is costing radio serious revenue at the wrong time.
  • The unintended podcast problem with attention spans.
  • An assessment of how podcasting fits in to radio’s future.
  • A cheaper, more viable alternative.
  • First digital, then podcasting – the next big thing.

The answers start here 

Click to read: Concern Over iHeart’s EarningsCumulus Q3 Revenue RevealThe 2 Never-Mentioned Radio BankruptciesChanges in Musical Listening HabitsGreg Ashlock’s iHeart DemotionBeasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy Bankruptcy

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Concern Over iHeart’s Earnings

It’s not just another bad quarter, it’s worse …

Today, I’m getting into why iHeart has been so quiet lately.

  • The numbers that portend the future are scary, forecasts for next year concerning.
  • Their stock price: down 71% and no one is talking.
  • Concerns about how iHeart is being restructured.
  • The effects of non-seller programmatic buying.
  • A problem bigger than their whopping $6 billion in debt that another bankruptcy cannot cure.

The answers start here 

Click to read: Cumulus Q3 Revenue RevealThe 2 Never-Mentioned Radio BankruptciesChanges in Musical Listening HabitsGreg Ashlock’s iHeart DemotionBeasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXM

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Cumulus Q3 Revenue Reveal

Weeks before their first bankruptcy, Cumulus denied it, now things are heading south so quickly there are real concerns …

Today, I’m getting into …

  • What they are trying to hide in the hopes it will be ignored.
  • The meaning of their stock price decline.
  • Why market managers are being pressed to sell digital at the expense of radio
  • What investors fear even more than a second bankruptcy.
  • The growing consensus their future is in doubt.

The answers start here 

Click to read: The 2 Never-Mentioned Radio BankruptciesChanges in Musical Listening HabitsGreg Ashlock’s iHeart DemotionBeasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy Reorganization

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The 2 Never-Mentioned Radio Bankruptcies

Just say it – iHeart and Cumulus still choking on debt are getting ready to go again, but this time will be very different.

Today, I’m laying out how bankruptcy the second time around will look …

  • How another bankruptcy filing became a necessity.
  • The major mistake Cumulus made in their first bankruptcy that they are paying for now.
  • Notice how iHeart is eerily quiet these days – what that’s all about.
  • The cost of kicking the debt down the road just got more expensive.
  • Why investors are giving up on radio stocks.
  • More concerning than missing revenue or sinking stock prices.

The answers start here 

Click to read: Changes in Musical Listening HabitsGreg Ashlock’s iHeart DemotionBeasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?

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Changes in Musical Listening Habits

I watch the music business closely and I was taken aback at how preferences are changing.

Today … I’m offloading it to you.

  • How music is being utilized by younger consumers that could be vital to radio as it addresses its shortcomings.
  • This shocked me – genres growing in popularity that most radio stations never heard of.
  • The verdict on customizable streaming radio.
  • Ambient music – a real genre or fraud.
  • NYU Music class poll: the last song or artist you discovered on radio.
  • Quick: Playlists or radio?  More new artists or listening to the big ones longer? More genres or less?  Singles over albums?

The answers start here 

Click to read: Greg Ashlock’s iHeart DemotionBeasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio Changes

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Greg Ashlock’s iHeart Demotion

How does iHeart kick an able radio exec out for a part-time replacement?

Today, what the demotion of iHeart multi-platform exec Greg Ashlock really means…

  • A “promotion” that feels like a “demotion” – but why?
  • The ultimate salary cut or something more.
  • The forces that brought their radio chief down after years of promotions.
  • A permanent replacement in the wings?
  • A wakeup call for iHeart managers.

The answers start here 

Click to read: Beasley Faces Stock DelistingiHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for Radio

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Beasley Faces Stock Delisting

Another one is getting ready to bite the dust – but this one doesn’t have the size or clout of the bigger consolidators to claw back …

Today, I’m getting into …

  • Can they be the one radio group to survive a delisting death sentence?
  • Does that mean bankruptcy is now baked in?
  • An assessment of what’s gone wrong at Beasley.
  • Their dominance over iHeart and Audacy in Boston and Philly.
  • How easy it is to avoid a NASDAQ delisting but why everyone is so worried.
  • Beasley’s ticking time bomb.

The answers start here 

Click to read: iHeart Investors Sensing Something Troubling …. Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI Tricks

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iHeart Investors Sensing Something Troubling

iHeart is awfully quiet these days – no more sideshows and promises of future business growth and even investors are worried …

Today  … what they’re worried about.

  • Yes, debt is a problem but here’s a bigger, more immediate problem causing concern.
  • Troubling metrics that keep investors awake at night.
  • How iHeart can produce positive revenue for the next three years that’s still not enough.
  • Unsettled issues surrounding iHeart on ownership, stock price, employees.
  • The thing that is worse than filing bankruptcy again – and it likely will happen.

The answers start here 

Click to read: Modernizing RadioWhat Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience Gains

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Modernizing Radio

Radio can do more than reselling digital and creating low margin websites for clients, it can tap into a trend that is actually working now in linear media.

Important info you won’t want to miss …

  • The mistake of chasing low profit digital dollars
  • An alternative that builds audience and easily pumps up revenue
  • Two growth areas that have worked for old fashioned media
  • One where the jury is still out – you may want to watch and wait
  • New opportunities for content creators

The answers start here 

Click to read: What Audacy Bankruptcy Means for EmployeesCalculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience GainsiHeart Fast-tracking AI at Stations

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What Audacy’s Bankruptcy Means for Employees

What about the employees – enough about Field and his favorites, what does their impending bankruptcy do to the people who work in radio …

Bankruptcies destabilize companies – some never recover, the ones that do never look the same.

I get into the effect of the Audacy bankruptcy on its people …

  • What to expect when you’re expecting an Audacy bankruptcy
  • What about the legacy Entercom employees vs. CBS
  • Susan Larkin – stays or goes?
  • Post-bankruptcy raises and layoffs
  • Two scenarios – one if current management is allowed to remain in place, the other with a new CEO.
  • Behind the scenes Cumulus employees say what it’s like to work in a post-bankruptcy company

The answers start here 

Click to read: Calculating Audacy’s Bankruptcy DateHorizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience Gains

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Calculating Audacy’s Bankruptcy Date

At long last, it’s now possible to get a pretty good line on when Audacy will file for bankruptcy …

They’re just about screaming out loud “we are filing for bankruptcy” after years of denying it and lately warning of not being a “going concern”.

Important info you won’t want to miss …

  • How to calculate Audacy’s filing date accurately
  • The CEO’s current thinking about throwing himself on the mercy of the bankruptcy court.
  • These revealing behind-the-scenes indicators
  • The meaning behind their skipped $18 million interest payment
  • If you own their stock
  • What happens to COO Susan Larkin post-bankruptcy

The answers start here 

Click to read: Horizontal Radio MonopoliesRelaxation of Ownership Rules is Back OnPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience GainsiHeart Fast-tracking AI at Stations

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Horizontal Radio Monopolies

Just when I thought relaxation of ownership rules was finally off the table due to the FCC and iHeart’s reluctance, horizontal radio monopolies emerge that could shake the entire industry up …

Today, I’m going to get into it an escape plan that can help failed owners get back to making money or get out – or both.

You’ll read a few thoughts on …

  • A way for debt laden owners to consolidate horizontally and grow vertically.
  • Why even iHeart would like to get in on it (remember, they were against helping competitors own more stations).
  • Money would be no problem.
  • Chances this version gets past the FCC’s previous objections.
  • See a frightening hypothetical that can actually happen for real.

The answers start here

Click to read: Relaxation of Ownership Rules is Back OnAudacy on the ClockPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience GainsiHeart Fast-tracking AI at Stations

You may also like: Blocking TikTok’s Knockout Punch to RadioThe Stakes in Audacy Bankruptcy TalksClass of ‘27’s Changing Views on RadioiHeart is Coming After Your Spot RevenueA Radio Station That Got Music Discovery RightThe Meaning of the “White Noise” Podcast BoomMusic Radio’s Secret Weapon Against StreamersHow Consolidators Plan to Change Ad SalesThe End of the Market ManagerBottom Feeder Buying Cumulus, Audacy Debt …

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Hear Jerry on Michael Harrison’s podcast discussing today’s youth culture and its potential application in both the radio and music businesses looking to appeal to younger demos – Listen here

Relaxation of Ownership Rules Is Back On

But why is the NAB pushing more consolidation when so many consolidators are going bankrupt?  Suing the FCC, angering their biggest group members …

Today, I’m going to spell out the irony and desperation that actually thinks more debt is worth fighting for and the dangers that come with it.

You’ll read a few thoughts on …

  • Who benefits most if ownership limits are relaxed.
  • And who gets hurt the most because there are groups that would be in harm’s way.
  • The story behind iHeart’s rethinking of consolidation.
  • What would expanding stations mean to Cumulus and Audacy both struggling to stay above water.
  • We’ll go down the list: Urban One, Salem, Beasley and the mid-range groups, how does expansion help them.
  • And the disaster that could hit Saga, yes Saga if they were allowed to expand in their current markets or add new ones.
  • One more thing we’ll get into – what about Townsquare, they have the best financials doing “digital first”, do they get into radio deeper?

The answers start here

Click to read: Audacy on the ClockPotential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience GainsiHeart Fast-tracking AI at StationsBlocking TikTok’s Knockout Punch to Radio

You may also like: The Stakes in Audacy Bankruptcy TalksClass of ‘27’s Changing Views on RadioiHeart is Coming After Your Spot RevenueA Radio Station That Got Music Discovery RightThe Meaning of the “White Noise” Podcast BoomMusic Radio’s Secret Weapon Against StreamersHow Consolidators Plan to Change Ad SalesThe End of the Market ManagerBottom Feeder Buying Cumulus, Audacy Debt …  The Audacy Reorganization Talks

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Talk to Jerry privately here.

Hear Jerry on Michael Harrison’s podcast discussing today’s youth culture and its potential application in both the radio and music businesses looking to appeal to younger demos – Listen here

Audacy on the Clock

Don’t buy the hype -- Audacy didn’t just skip an $18 million interest payment to facilitate restructuring their debt, there’s a better reason … 

What’s going on here?  You can’t believe Audacy but there is now clear evidence of what they are up to with this move.

You’ll read thoughts on …

  • Does skipping payments presage the end or the beginning?
  • If you want to know exactly when this either gets resolved once and for all or hits the bankruptcy courts, it’s now all as clear as can be.
  • Remember how I’ve stressed that Audacy hired the same bankruptcy advisors that Cumulus used before filing – based on that, here’s what will happen.
  • We will get into the exact date of a bankruptcy or pre-packaged deal and tell you which one it will be – and you can take that to the bank.

The answers start here 

Click to read: Potential Buyer Awaits Audacy BankruptcyNew SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience GainsiHeart Fast-tracking AI at StationsBlocking TikTok’s Knockout Punch to RadioThe Stakes in Audacy Bankruptcy Talks

You may also like: Class of ‘27’s Changing Views on RadioiHeart is Coming After Your Spot RevenueA Radio Station That Got Music Discovery RightThe Meaning of the “White Noise” Podcast BoomMusic Radio’s Secret Weapon Against StreamersHow Consolidators Plan to Change Ad SalesThe End of the Market ManagerBottom Feeder Buying Cumulus, Audacy Debt …  The Audacy Reorganization TalksShockers Ahead from iHeart, Audacy

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Potential Buyer Awaits Audacy Bankruptcy

Yes, the CBS merger assets are so attractive that at “clearance prices” a welcomed Audacy shakeup could happen …

This is about the behind-the-scenes negotiations to save Audacy or at the very least clear out the current administration and start over.

You’ll read thoughts on …

  • The thing Audacy has on its side that could get lenders off their backs and let them continue to run the company.
  • The potential buyer who is waiting with investment capital to be part of the solution – we’ll name him.
  • The scenario in which David Field is retained by Audacy, paid more money BUT a new CEO is brought in– a possibility lenders have on their side.
  • Which page from the Cumulus bankruptcy playbook is Audacy focusing on.
  • Let’s be honest here from what those familiar with the situation know – how unhappy are Audacy lenders, wanting new-blood angry or second-chance angry.

The answers start here 

Click to read: New SiriusXMWhat’s Stalling the Audacy ReorganizationIs Radio Ready for a Comeback?Younger Demos Want These Radio ChangesSurge Pricing for RadioStupid On-Air AI TricksHow Nielsen is Killing Audience GainsiHeart Fast-tracking AI at StationsBlocking TikTok’s Knockout Punch to RadioThe Stakes in Audacy Bankruptcy TalksClass of ‘27’s Changing Views on Radio

You may also like: iHeart is Coming After Your Spot RevenueA Radio Station That Got Music Discovery RightThe Meaning of the “White Noise” Podcast BoomMusic Radio’s Secret Weapon Against StreamersHow Consolidators Plan to Change Ad SalesThe End of the Market ManagerBottom Feeder Buying Cumulus, Audacy Debt …  The Audacy Reorganization TalksShockers Ahead from iHeart, AudacyWhat’s for Sale at Audacy

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Class of ’27’s Changing Views on Radio

INSIDE THIS ARTICLE

  • The stone-cold smash hit young demo format no one is doing – and most don’t even know
  • A change in youth attitudes about podcasting
  • 2 places to look to find eager new audiences 
  • Advice from the class of ’27– opportunities bubbling under
  • If you hire them as a consultant, here’s the first thing they will say (after cut the commercials).

Read the full article now  

iHeart is Coming After Your Spot Revenue
A Radio Station That Got Music Discovery Right
The Meaning of the “White Noise” Podcast Boom
Music Radio’s Secret Weapon Against Streamers
How Consolidators Plan to Change Ad Sales

Free samples here

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iHeart is Coming After Your Spot Revenue

INSIDE THIS ARTICLE

  • A blatant push to put a major hurt on competitor’s ad sales
  • How it works
  • The most effective way to respond

Read the full article now  

The Effect of Nielsen’s Financial Problems on Radio
A Radio Station That Got Music Discovery Right
The Meaning of the “White Noise” Podcast Boom
Music Radio’s Secret Weapon Against Streamers
How Consolidators Plan to Change Ad Sales

Free samples here

Have a tip we should know? Email here

A Radio Station That Got Music Discovery Right

INSIDE …

  • How they break all the rules, attract loyal audiences and generate lots of revenue without bowing to Nielsen’s ratings.
  • We’ve gathered a list of basics.
  • The balance of new to familiar and their “Supreme Court” process for adding new songs.
  • Their hot clock mix explained.
  • The revenue component that even non-comms can emulate.

Read the full article now   

The Meaning of the “White Noise” Podcast Boom
Music Radio’s Secret Weapon Against Streamers
How Consolidators Plan to Change Ad Sales
The End of the Market Manager
Audacy to Renege on Pension Plans

Free samples here

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The Meaning of the “White Noise” Podcast Boom

INSIDE …

  • Why radio should care about Spotify’s inartful trashing of “white noise” that is increasingly popular.
  • The way radio can dissect an audience that is beginning to prefer chill as a source of entertainment.
  • The “white noise” that Spotify is trying to kill earns up to $18,000 a month– more than most remnant ads radio has been resorting to lately.
  • No, “white noise” isn’t the next affordable format for radio, but here’s what the trend suggests are a few that are.

Read the full article now   

Radio’s Fate Hangs in the Balance: 4th Quarter Pivotal for Survival
Music Radio’s Secret Weapon Against Streamers
How Consolidators Plan to Change Ad Sales
The End of the Market Manager
Audacy to Renege on Pension Plans

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Radio’s Fate Hangs in the Balance: 4th Quarter Pivotal for Survival

INSIDE …

  • One radio group is outperforming their peers this year by stealing revenue from these competitors – and that group is …
  • Audacy auditors were forced to issue a not “going concern” alert this year that plunged it into bankruptcy mode – the groups most likely to be in trouble now.
  • Fact: sellers selling radio AND digital produce less revenue than AEs who sell only radio – what changes are coming.
  • Radio’s digital future should pattern what Mark Thompson, named CNN CEO yesterday, did to turnaround The New York Times.

Read the full article now   

Music Radio’s Secret Weapon Against Streamers
How Consolidators Plan to Change Ad Sales
The End of the Market Manager
Audacy to Renege on Pension Plans
Record Labels Confirm the Decline of CHR

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Music Radio’s Secret Weapon Against Streamers

INSIDE …

  • There’s lots of news among younger demographics lately who prefer streaming music services like Spotify and Apple Music over terrestrial radio – both have weaknesses but now radio has a way to regain listeners glued to their AirPods.
  • It’s something that Spotify can’t do (they still think they need to be more like radio!).
  • Nielsen stands in the way, but there is a workaround.
  • Evidence that young music loving audiences would turn the radio back on for this new approach to music programming.
  • There’s even a way for big consolidators to get in on this but don’t make the mistake they are sure to make.

Read the full article now   

How Consolidators Plan to Change Ad Sales
The End of the Market Manager
Audacy to Renege on Pension Plans
Record Labels Confirm the Decline of CHR
Bottom Feeder Buying Cumulus, Audacy Debt

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How Consolidators Plan to Change Ad Sales

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  • Disruptive changes to how account execs will sell. 
  • Where the size of station sales forces is headed – smaller to save compensation or larger to boost revenue? 
  • Cleaning up collections. 
  • Questionable sales practices for iHeart, Audacy and Cumulus that could easily become accepted everywhere.
  • Solutions for redefining the role of sales manager and how to get maximum revenue from salespeople.

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Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The End of the Market Manager

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  • Scripps reportedly fired many of their local TV GMs making radio salivate at the potential savings.
  • The new “glorified” sales manager.
  • The radio groups most likely to fire market managers in favor of regional execs.
  • The ones most likely to consider regional market managers.
  • The safest radio groups to be a market manager (by group and size).

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Click to read: Bottom Feeder Buying Cumulus, Audacy Debt … The Audacy Reorganization Talks …. Shockers Ahead from iHeart, AudacyWhat’s for Sale at AudacyAudacy to Renege on Pension PlansAirplay and Attention SpanBankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2ndQuarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the Future

You may also like: Chaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV Sale

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Bottom Feeder Buying Cumulus, Audacy Debt

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  • Just when you think Audacy and Cumulus have nothing left to sell, they’ve come up with this.
  • Why investors are willing to throw millions at radio groups that have emerged from bankruptcy or are ready to go into it.
  • Detailed: The riskiest new investment in radio since John Malone tried to take over iHeart.
  • What speculators see in radio that shareholders do not.

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Click to read: The Audacy Reorganization Talks …. Shockers Ahead from iHeart, AudacyWhat’s for Sale at AudacyAudacy to Renege on Pension PlansAirplay and Attention SpanBankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at Cumulus

You may also like: The Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy Talks

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Audacy Reorganization Talks

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  • The two likeliest outcomes.
  • What’s the holdup – one issue seems insurmountable.
  • How their podcasting business is getting in the way.
  • Who gets screwed most – Audacy, bondholders or lenders.
  • At stake: a voluntary reorganization or a balls on bankruptcy.

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Click to read: Shockers Ahead from iHeart, AudacyWhat’s for Sale at AudacyAudacy to Renege on Pension PlansAirplay and Attention SpanBankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand Radio

You may also like: Listeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its Bets

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Shockers Ahead from iHeart, Audacy

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  • Why Audacy is not cutting expenses faster given their financial problems.
  • How iHeart is taking market share from competitors even as their own revenue declines.
  • iHeart fuzzy math about a 4th quarter turnaround clarified.
  • Bob Pittman caught speaking candidly about his radio group’s future.
  • It’s what iHeart and Audacy are NOT saying that is concerning – two examples.

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Click to read: What’s for Sale at Audacy ... Audacy to Renege on Pension PlansAirplay and Attention SpanBankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free Radio

You may also like: Religion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What’s for Sale at Audacy

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  • Will Audacy stations be sold in Boston and Phoenix?
  • The other assets that could be sold off within a year.
  • The coming benefits dump.
  • The one competitor that is singlehandedly preventing Audacy’s revenue from rising forcing asset sales.

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Click to read: Audacy to Renege on Pension PlansAirplay and Attention SpanBankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is Not

You may also like: The Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock Split

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy To Renege on Pension Plans

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  • The employees that will be most affected by this decision – an estimated number, kind of money being lost.
  • Is this the approach other bankrupt radio groups will now use?
  • How a few lucky Audacy employees saw this coming and what they did to protect their nest egg.
  • The option to quit their jobs and take their chances outlined here.

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Click to read: Airplay and Attention SpanBankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have Changed

You may also like: Satellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Airplay and Attention Span

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  • Forget the metric that goldfish have a longer attention span than humans – it just got worse.
  • What percentage of Spotify songs get skipped in the first 5 seconds.
  • A look at changes in the way records are being made.
  • 8 attention span solutions (The average listener retains only 25% of what they hear).
  • TikTok is the new YouTube – what we can learn from them.

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Click to read: Bankruptcy Talks Accelerate After Audacy 2Q Earnings DisasterWhat to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio Problem

You may also like: The Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This One

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Bankruptcy Talks Accelerate After Audacy 2Q Earnings Disaster

Read the full article now   

  • How angry bondholders may force Audacy into bankruptcy court wiping out everyone’s equity.
  • Behind-the-scenes negotiations -- details.
  • Do lenders want Field out as a condition?
  • The new pivot Field is selling to save his job (succeeding digital and podcasting).
  • Ominous sign the end is near: retirement plans.

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Click to read: What to Expect from 2nd Quarter RevenueRecord Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor Warning

You may also like: Audacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI Goals

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What to Expect from 2nd Quarter Revenue

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  • WHAT RECESSION? There’s no recession, so why is radio having one?
  • IGNORING TRENDS -- Like “connected audiences” – what they are and why they work.
  • SPOTIFY -- The mistake of trying to compete with Spotify which is the new hit radio – here’s a better idea to take them on.
  • DIGITAL -- Trouble ahead in digital that radio groups increasingly depend on.

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Click to read: Record Labels Confirm the Decline of CHRThe Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up Bankruptcy

You may also like: The Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain Execs

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Record Labels Confirm the Decline of CHR

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  • CHR audiences have been eroding for years in ratings and ability to break new acts, but the straw that broke the camel’s back happened early this year.
  • BUT WAIT, there is still good news for 3 other radio genres.
  • Why these 3 formats are now more valued by labels than CHR.
  • The coming new very different role for hit radio as the labels see it so you can get ahead of it now.
  • CHR’s decline and what happened at All Access.

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Click to read: The Big Consolidators Plan for the FutureChaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in Media

You may also like: Spillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming Mistakes

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Big Consolidators Plan for the Future

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  • The big 3 can’t sell or make a profit, but there is one more option.
  • Cluster busters are coming.
  • Why they are giving up on boosting anemic stock prices.
  • Surprising news about Nielsen.
  • Podcasting never materialized as promised, digital is a costly low-margin business and the national radio business decline is killing iHeart and Audacy – do they have one more pivot left?

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Click to read: Chaos at CumulusThe Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV Sale

You may also like: The Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Chaos at Cumulus

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  • First good look at their rate of cash burn.
  • The revenue they need to generate just to pay their bills.
  • They sold WDRQ, Detroit for $10 million for quick cash – what’s on the block now?
  • What they have in mind by promising to retrain the sales force.
  • Why they are gutting many of their stations.

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Click to read: The Race to Rebrand RadioListeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy Talks

You may also like: Audacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Race to Rebrand Radio

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  • The guardrails for stations looking to successfully rebrand.
  • The important step most stations skip over.
  • Lessons from Starbucks, Gap and Twitter’s rebrand.
  • Now it can be told: the reason consolidators pushed to replace radio with audio.
  • The radio group that reportedly renamed a major market powerhouse based on the CEO’s wife’s preference.

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Click to read: Listeners Paying Streaming Rate Hikes Rather Than Free RadioReligion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its Bets

You may also like: Threads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio Groups

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Listeners Paying Streaming Rate Hikes Rather Than Free Radio

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  • How long the current trend will last.
  • The streamers who may have the most resistance to rate increases.
  • The specific reasons why listeners would rather pay substantial and increasing monthly fees rather than listen to free radio.
  • METRICS: Exactly how much are consumers willing to pay for monthly subscriptions for streaming services?

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Click to read: Religion is Soaring, Salem is NotThe Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & Radio

You may also like: Breaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station Owners

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Religion Is Soaring, Salem Is Not

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  • Why virtually all religion-based stations are succeeding while Salem is in financial hot water.
  • The winners and losers in one of America’s top format genres.
  • Salem’s mistakes that EMF didn’t make.
  • The ingenious formula EMF uses to buy stations on the cheap.

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Click to read: The Core Needs of Listeners Have ChangedSatellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock Split

You may also like: AI’s Projected Impact on the Music BusinessNot That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Core Needs of Listeners Have Changed

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  • The two new surprising hot buttons according to a changing audience.
  • The importance of influencers or not.
  • If you’re not willing or able to cut commercial loads right now, these new core needs even supersede that.
  • How to get record labels to start spending promotional money again to gain radio airplay.
  • Turns out one of the weekend hit movies (Barbie and Oppenheimer) has some critical branding lessons.

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Click to read: Satellite has a Radio ProblemThe Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business

You may also like: Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Satellite Has a Radio Problem

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  • Why yesterday’s 42% stock price surge is a warning sign.
  • The problems that have caused SiriusXM subscriptions to hit the wall.
  • The story behind their bizarre pricing plans.
  • The coming dashboard shakeout for terrestrial and satellite radio.

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Click to read: The Golden Bachelor WarningAudacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This One

You may also like: iHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat Bankruptcy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Golden Bachelor Warning

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  • The evidence behind ABC’s The Golden Bachelor blatantly aimed at aging demographics.
  • Proof positive that radio can regenerate a new generation of listeners even as young people are turning to digital.
  • The way to develop new formats even where older listeners predominate.
  • Hopeful history: How hippie WMMR was hatched on an older-skewing adult station – 50 years ago!
  • Age in place or get younger?

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Click to read: Audacy’s Screwed Up BankruptcyThe Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business…  Not That Format Hot Clock, This OneiHeart’s Misleading AI Goals

You may also like: Cash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing Investors

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Screwed Up Bankruptcy

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  • What a last-minute pre-packaged bankruptcy means to the operation of Audacy stations.
  • The radio groups that are watching their latest tactics closely.
  • One investor is in for the biggest shellacking.
  • Lenders would rather stay with current management than have to run Audacy themselves. True or false?

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Click to read: The Rise of Unions in MediaSpillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain Execs

You may also like: Radio’s Streaming MistakesRadio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio Monopolies

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Rise of Unions in Media

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  • Will the SAG/AFTRA and screenwriters strike stimulate a union movement to save radio jobs?
  • How they would go about unionizing against iHeart, Audacy, Cumulus and others.
  • Bubbling under: What we know about current attempts to organize against radio consolidators.
  • The most probable unionization targets – in order.

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Click to read: Spillover Effects of a Disney TV SaleThe Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming Mistakes

You may also like: Radio rethinking Digital Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton Hire

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Spillover Effects of a Disney TV Sale

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  • Disney wisely sat out radio consolidation and is now looking to exit the linear TV business – what do they know.
  • The ramifications of a collapsing TV business on radio.
  • Does streaming still have good business potential.
  • The kind of content that still has an upside.
  • New distribution options for radio.

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Click to read: The Projected Outcome of the Audacy Bankruptcy TalksAudacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking Digital

You may also like: Listeners Demands to Return to RadioCompeting Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Projected Outcome of Audacy Bankruptcy Talks

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  • We called this over a year ago in living color – along with the Cumulus and iHeart bankruptcies before that – now batting 1.000, here’s our projected outcome of the Audacy reorganization.
  • Are lenders holding almost $2 billion in debt in the mood to cut a deal?
  • Is it true that Audacy and David Field can somehow survive a pre-pack bankruptcy?
  • The signs that this is going to get ugly.
  • The projected outcome – who gets screwed, who gets lucky.

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Click to read:  Audacy Hedges Its BetsThreads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio 

You may also like: Competing Against Failed Radio GroupsThe New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Hedges Its Bets

Read the full article now   

  • The not so warm and fuzzy CEO is now romancing the staff to get the one thing he desperately needs from them.
  • How half-truths are being used to paint a picture of stability.
  • Details of an orchestrated “charm offensive” to win back employees.
  • David Field talks about the new people he hired – here’s what he is leaving out.
  • What’s next: this final Hail Mary.

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Newstips

Click to read: Threads, Twitter & RadioBreaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio Groups

You may also like: The New Station OwnersCumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing Spending

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Threads, Twitter & Radio

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  • 70 million new signups in its first two days Threads competed with Twitter – why radio should take a timeout and not misread what’s developing.
  • Young people are already bored with Twitter and many more abandoned Facebook spelling opportunity for the original social medium, radio.
  • The key component – do this and digital alternatives can’t compete with radio.
  • Details on how music genres should proceed and how spoken word formats should take advantage of this once in a generation opportunity.
  • The evolving attitudes about social media that are changing now and begging for someone to act.

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Newstips

Click to read: Breaking Down Audacy’s 1-for3- Reverse Stock SplitAI’s Projected Impact on the Music Business…  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners ….

You may also like: Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Breaking Down Audacy’s 1-for-30 Reverse Stock Split

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  • Reverse stock splits almost never work, so why did Audacy just do a 1-for-30 split?
  • Why would one of the cheapest radio CEOs spend $3.2 million on pay raises and bonuses at a time like this.
  • The coming potential screwing of Audacy shareholders.
  • The favorite for running Audacy post-bankruptcy.
  • Who is on the growing list of radio groups that are angling for a voluntary bankruptcy.

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Newstips

Click to read: AI’s Projected Impact on the Music Business …  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting Radio

You may also like: Turmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy Negotiations

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

AI’s Projected Impact on the Music Business

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  • Happening already: AI imitating recording artists.
  • The cloned dj to play cloned music.
  • Fake records impact on airplay and streaming music services.
  • The clause in the U.S. copyright law that guarantees AI bots will not make humans expendable.

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Newstips

Click to read:  Not That Format Hot Clock, This OneiHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car Radio

You may also like: Audacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After Bankruptcy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Not That Format Hot Clock, This One

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  • How to update the “hot clock” to reflect how audiences actually live and listen to radio today.
  • For example, there is one programming element that can be added at no cost whatsoever – yet no stations do this ratings booster (until now?).
  • Radio, take note: Striking stats on how the record business is successfully adapting to shorter radio listener attention spans and it goes virtually unnoticed.
  • Too many commercials are a turnoff and they’re not going to be reduced anytime soon, but there is a way to mitigate the tune-out factor.
  • Should AI be included in future format clocks – jump on it first, wait or say no way.
  • The secret Spotify users have for what they want from a radio station.

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Newstips

Click to read: iHeart’s Misleading AI GoalsCash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat Bankruptcy

You may also like: How Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart’s Misleading AI Goals

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  • How iHeart’s public and private goals for artificial intelligence differ.
  • Its effect on future iHeart layoffs detailed.
  • iHeart promising to expand AI even before it gets started – what’s behind that move.
  • The reasons competitors will not breathe easier when they see what iHeart AI is up to.
  • BUT, employees will have a different set of AI rules than iHeart corporate.

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Newstips

Click to read: Cash-Strapped Audacy Paying Millions to Retain ExecsRadio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing Investors

You may also like: Chaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Cash-Strapped Audacy Paying Millions to Retain Execs

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  • “Retention Awards” from the cheapest radio group to keep employees who have no intention of leaving – why?
  • Yes, yes David Field gets an unconscionable pay bump for presiding over a company preparing for bankruptcy – but look who else is getting spiffed now.
  • Wall Street wants deep cuts from them so why is Audacy doing the exact opposite?
  • Talent, programming and sales – their stake in this corporate money grab.
  • Will the healthy radio companies start giving raises?

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Newstips

Click to read: Radio’s Streaming MistakesRadio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio Monopolies

You may also like: Saga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial Intelligence

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio’s Streaming Mistakes

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  • Even the big consolidators are fumbling on digital delivery of their stations – a checklist of their mistakes you don’t want to repeat.
  • The end of radio walled off from digital competitors – and new opportunities.
  • The dark hole of commercials while streaming.
  • All that is necessary to beat digital competitors where they stream while you continue to broadcast over-the-air.
  • Audacy case study: how not to transition to digital broadcasting.

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Newstips

Click to read: Radio rethinking DigitalListeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton Hire

You may also like:  What Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper Cuts

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio Rethinking Digital

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  • Digital seems to have hit the wall, even Townsquare is having problems cranking it out – why radio groups behind the scenes are worried about their favorite pivot.
  • New thinking – how digital sales will change for radio out of necessity over the next few months.
  • Townsquare derives over 50% of its revenue from digital – why no other radio group can.
  • Selling against iHeart’s packaged platform deals.

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Click to read: Listeners Demands to Return to Radio  Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ...

You may also like: Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Listeners Demands to Return to Radio

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  • “The list” to address radio’s turn offs.
  • Time spent listening enhancers.
  • Where digital and podcasting fit in.
  • Consolidators are already flirting with artificial intelligence (AI) – are listeners interested?
  • How to harvest the “gift” of increasingly shorter attention spans.
  • News and talk are on the list, but you may be shocked at how listeners want it now.

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Newstips

Click to read: Competing Against Failed Radio GroupsThe New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping Radio

You may also like: Audacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff Rules 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Competing Against Failed Radio Groups

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  • The low-lying fruit – two areas to hit your formerly bankrupt or soon-to-be bankrupt competitor with and get relatively quick results.
  • Smarter planning for the more aggressive radio owner or executive – failed groups will skip this part because it costs a little investment money.
  • Only for the brave – worth a read because these ideas take guts not so much money.
  • The number one (and only) question to ask a group when brainstorming for new radio ideas.
  • And the most preferred contest prize that radio never offers.

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Newstips

Click to read: The New Station Owners …. Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing Spending

You may also like: Ford Won the AM Radio BattleAudacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The New Station Owners

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  • The three types of new owner that will be buying radio stations from desperate consolidators.
  • There’s one consolidator that knows this already and they have already begun to take advantage of the next type of station owner.
  • AM stations are being shut down or sold for pennies on the dollar – KABC is likely next – does that mean there is a brisk market for AM?
  • How are the distressed radio stations sold by consolidators to new owners performing?
  • The return of the mom-and-pop era?

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Newstips

Click to read: Cumulus All in On Exiting RadioTurmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle

You may also like: Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Cumulus All in On Exiting Radio

Read the full article now   

  • The profit in not growing the company.
  • Plans for market managers.
  • Latest distraction: a new low margin business with auto renew in fine print.
  • They failed in network, podcasting and spot radio, here’s where they appear to be headed next.
  • And, that $50 million buyback of stock has come under fire for this reason.

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Newstips

Click to read: Turmoil Over Who Controls the Car RadioAudacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy Negotiations

You may also like: The Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True Financials

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Turmoil Over Who Controls the Car Radio

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  • Ford knew something that even the radio industry didn’t know before making their first attempt to delete AM from in-car entertainment systems – here’s what it is.
  • The BBC got it right – what their new leader predicts for radio distribution within the next 10 years.
  • If they are right, the NAB is pandering to AM owners who would be better served by accepting the BBC vision.
  • Almost everyone agrees FM is next if it doesn’t at least keep an open mind for the European radio solution.
  • Auto manufacturers are hijacking the car radio to make money from apps – this counter punch stops them in their tracks and puts control in the hands of broadcasters.

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Newstips

Click to read: Audacy’s Copycat BankruptcyHow Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After Bankruptcy

You may also like: Crocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings Charade

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Copycat Bankruptcy

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  • The bankruptcy Audacy is modeling itself after.
  • They even hired the same advisory firm.
  • Based on this model – who can get screwed and who gets paid.
  • Cumulus and iHeart (and potentially Audacy) filed bankruptcy before it was needed – what’s that all about?
  • What are the chances a private equity backed company will file for bankruptcy compared to a traditional company – there are research numbers now available.

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Newstips

Click to read: How Audacy is Sportswashing InvestorsChaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM Radio

You may also like: The Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How Audacy Is Sportswashing Investors

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  • What exactly is sportswashing and how Audacy is strategically employing it.
  • This 1-for-30 share Audacy reverse stock split is not what it appears to be – there is a specific reason for this move and helping investors is not at the top of that list.
  • The revealing report card on reverse stock splits.
  • Field wants what Cumulus CEO Mary Berner was having when she filed for Cumulus – her version worked for her.
  • Shareholders usually get screwed in reverse stock splits so why is Audacy’s so important?

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Newstips

Click to read: Chaos at the Big 3 Radio MonopoliesSaga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of Audacy

You may also like: iHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Chaos at the Big 3 Radio Monopolies

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  • The 5 groups that will experience at least one bankruptcy over the next couple of years (We’re batting 1.000 so far).
  • One private equity group is about to sell off its radio assets.
  • A great radio station cannot save a radio cluster – but here’s what can.
  • No one wants to be in a consolidator’s shoes right now, but there is an emerging type of radio group to watch for.
  • The coming explosion over average quarter hour listening so you can get ahead of it now.

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Click to read: Saga’s Pat Paxton HireWhat Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle ….Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial Intelligence

You may also like: Lenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus Myths

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga’s Pat Paxton Hire

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  • To hire Paxton, Saga changed a fundamental practice that has worked well for them for decades.
  • What Paxton had that others didn’t that was irresistible.
  • The move away from policies of the late Ed Christian with great urgency.
  • Tomorrow’s Saga – changes ahead, one startling.

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Newstips

Click to read: What Post-Bankruptcy Audacy Might Look Like ... Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper Cuts

You may also like: How the Fields’ Intend to Keep AudacyRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener Gripes

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What Post-Bankruptcy Audacy Might Look Like

Read the full article now   

  • Would David Field run it?
  • If not, who is on the short list to replace him?
  • Who would own the company that emerges?
  • What would the new owners be forced to sell to downsize?
  • Could Audacy finally get back to business?

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Newstips

Click to read: Local Advertisers Dumping RadioAudacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep Audacy

You may also like: Audacy on the BrinkRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener Gripes

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Local Advertisers Dumping Radio

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  • Low profit digital being sold by radio stations is artificially pumping up the revenue, so why is local sales and profit down?
  • Something’s not right -- Why is debt-ridden and bankrupt Audacy so close to much bigger competitor iHeart in revenue – here are the numbers.
  • What the late Ed Christian used to do in markets where he competed when iHeart did a deep dive on rates.
  • Local advertisers want to buy radio – here is what’s keeping them from upping their spend.
  • One proven tactic that radio advertisers cannot resist.

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Newstips

Click to read: Audacy Preps for Bankruptcy by Increasing SpendingFord Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyAudacy on the Brink

You may also like: Radio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar Status

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Preps for Bankruptcy by Increasing Spending

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  • For a company that is headed to bankruptcy, why is Audacy increasing its spending?
  • Where are they spending the money.
  • A first good look at David Field preparing for bankruptcy not preventing it.
  • CBS-type spending vs. Audacy penny pinching – why the change?
  • The fate of their well-publicized forced retirements.

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Newstips

Click to read: Ford Won the AM Radio Battle …. Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyAudacy on the BrinkRadio is Changing Layoff Rules

You may also like: Bankruptcy Update on Audacy, Cumulus, iHeart & BeasleyThe “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Ford Won the AM Radio Battle

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  • What Ford knows that broadcasters are missing about AM radio.
  • Sit down for this -- Ford will actually end AM’s audio disadvantage compared to FM, their plan.
  • The NAB knows the AM car battle is lost but why are they still pissing in the wind?
  • The carmakers dirty little secret is that they want to make radio (among other things) a paid app – here’s what will prevent them.

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Newstips

Click to read: Audacy Bankruptcy NegotiationsThe Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyAudacy on the BrinkRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley 

You may also like: The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations The Mediacraft of Tucker Carlson’s Firing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Bankruptcy Negotiations

  • The rather surprising position of lenders as Audacy publicly declares it may no longer make it as a going concern.
  • The 3 things that Audacy must come away with or it’s game over.
  • The way things are leaning at this moment – bankruptcy, loss of control or stay of execution.

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Newstips

Click to read: The Surprise Audacy CEO After BankruptcyCrocodile Tears for AM RadioThe Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyAudacy on the BrinkRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley  The “Bowtie” That is Choking Radio

You may also like: iHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations The Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital Numbers

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Cumulus is Panicking

INSIDE …

  • Cumulus revenue is off, their digital and podcasting gambits are inconsequential at this point.
  • They see an erosion of public confidence in their stock.
  • So what are they going to do about it?

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Newstips

Click to read more stories: The Value Destruction of AudacyiHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyAudacy on the BrinkRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley  The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings Charade

You may also like: Voice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations The Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Value Destruction of Audacy

Audacy has lost 99% of its value since the CBS merger in 2017 –  CEO David Field publicly criticized CBS at the time for inept management and said he was the only one who could fix it.

So how did he wipe out all the equity of a company that it turns out was never broken?

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Newstips

Click to read more stories: iHeart’s Future in Artificial IntelligenceLenders Pressure Audacy for Deeper CutsHow the Fields’ Intend to Keep AudacyAudacy on the BrinkRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley  The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in Radio

You may also like: ESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations The Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Lenders Pressure Audacy for Deeper Cuts

  • Yesterday’s NYSE delisting and its effect on operations.
  • Lenders want more cuts and Audacy wants fewer – there’s a reason.
  • How that could change their layoff situation.
  • The thinking behind stating publicly that Audacy may no longer be a “going concern”.
  • What it all means to lenders, shareholders and remaining employees.

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Newstips

Click to read more stories: How the Fields’ Intend to Keep AudacyAudacy on the BrinkRadio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley  The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus Myths

You may also like: Top Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations The Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartSeverance Abuse During iHeart Layoffs

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy On the Brink

  • Revenue projections for the rest of the year.
  • The chance of a lender-driven refinance.
  • What happened to all the promised layoffs and cost-cutting?
  • Which investors gets screwed the most.
  • Look who is ready to hijack the company.

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Newstips

Click to read more stories: Radio is Changing Layoff RulesBankruptcy Update on Audacy, Cumulus, iHeart & Beasley  The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar Status

You may also like: What is Urban One Doing Buying Stations The Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s Tankathon

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio Is Changing Layoff Rules

  • What’s different
  • The perfect layoff (yes, one radio group has this down pat)
  • The hits keep on coming but employees are still shocked -- smart ways to prepare
  • The one thing that irks a laid off employee even as much as money issues
  • When to sue, when to take what you can and run

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Newstips

Click to read more stories: Bankruptcy Update on Audacy, Cumulus, iHeart & Beasley  The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying Stations

You may also like: The Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles Mount

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Bankruptcy Update on Audacy, Cumulus, iHeart & Beasley

INSIDE …

  • What’s new:  which of these consolidators have a chance to avoid bankruptcy, which don’t.
  • Why they now even fear making their debt payments on time as strange as that sounds.
  • Learn which ones are toast at Audacy, iHeart, Cumulus & Beasley should they go belly up.
  • The one problem they all have in common that will not go away.

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Newstips

Click to read more stories: The “Bowtie” That is Choking RadioiHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying StationsThe Mediacraft of Tucker Carlson’s Firing ...

You may also like: Audacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump Trials

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The “Bowtie” That Is Choking Radio

  • Taking back commercial placement strategy from PPM.
  • Bringing back the “clock wars”.
  • Nielsen isn’t going to alter quarter hour crediting rules that are on shaky ground with advertisers – here’s how to get around them.
  • Advertisers – not broadcasters – are the biggest part of Nielsen’s business and they don’t like change but this move will even make them happy.

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Newstips

Click to read more stories: iHeart’s True FinancialsInvestors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying StationsThe Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital Numbers

You may also like: Consolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies Failure

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart’s True Financials

INSIDE …

  • The financial health of iHeart broken down by radio CEOs who know all the tricks
  • How their strong revenue quarter comes with a caveat
  • Dig deeper into iHeart’s heavy debt
  • The reason some employees haven’t had a raise in over 10 years
  • Learn how much of their revenue comes from podcasting

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Click to read more stories: Investors Rejecting Cumulus Earnings CharadeVoice Cloning Is Starting in RadioESPN Radio May Disappear3 Cumulus MythsTop Listener GripesAudacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying StationsThe Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism Lawsuits

You may also like: … No AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still Lose

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

3 Cumulus Myths

INSIDE …

  • Things Cumulus dare not say publicly or risk a total collapse of their business.
  • The story behind Westwood One.
  • Last week Mary Berner touted a more than 20% increase in Q1 digital business – the important part she is leaving out.
  • What Cumulus is doing instead of paying down debt that creditors want.

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Scroll through a complete list of previous stories here

Top Listener Gripes

INSIDE …

  • Radio is unnecessarily pissing off its listeners.
  • Several listener complaints that can be remedied at little to no expense at all.
  • The somewhat surprising audience input on promos, sweepers and morning shows.
  • A way to get around programming to Nielsen PPM instead of the new needs of in-demo audiences.

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Click to read more stories: Audacy Up in Arms Over JD Crowley’s Superstar StatusWhat is Urban One Doing Buying StationsThe Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartFord Refuses to Reverse No AM in CarsUrban One Threatened with Delisting

You may also like: Severance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About Vinyl

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Up in Arms Over J.D. Crowley’s Superstar Status

INSIDE …

  • Big salaried execs are getting axed, Crowley survives – why.
  • What is Audacy doing throwing money at one person while laying off many others.
  • We have the number of employees who have been canned since the CBS merger.

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Click to read more stories: What is Urban One Doing Buying StationsThe Mediacraft of Tucker Carlson’s FiringAudacy Reportedly Fudging Their Digital NumbersConsolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartFord Refuses to Reverse No AM in CarsUrban One Threatened with DelistingSeverance Abuse During iHeart Layoffs

You may also like: Audacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Reportedly Fudging Their Digital Numbers

INSIDE …

  • We’ve seen the numbers from a news source – the holes in David Field’s 12% digital growth revealed.
  • Bungling behind the scenes – would you have launched your big digital business after hearing this?
  • The impact of J.D. Crowley’s lucrative contract renewal.

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Click to read more stories: Consolidators Risking Ageism LawsuitsNo AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartFord Refuses to Reverse No AM in CarsUrban One Threatened with DelistingSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles Mount

You may also like: Should I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To Something

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Consolidators Risking Ageism Lawsuits

INSIDE …

  • The sudden emphasis on long tenured and older employees as layoff targets.
  • The latest trick they’re using to potentially defend against ageism lawsuits.
  • The 60-year old’s not in harm’s way.
  • It goes both ways, a top revenue manager bolted for a surprising non-radio job.
  • The new forced-retirement.

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Click to read more stories: No AM in Cars as an Assault on Right Wing RadioAudacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartFord Refuses to Reverse No AM in CarsUrban One Threatened with DelistingSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump Trials

You may also like: The AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJs 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

No AM in Cars as an Assault on Right Wing Radio

INSIDE … 

  • What automakers have against AM radio.
  • The reason manufacturers want to shut down radio.
  • Learn about the next iteration of infotainment systems on FM, satellite and digital devices.
  • How next year’s digital dashboard is being reimagined.
  • Relevant tests underway by Tesla, Apple and BMW.

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Click to read more stories: Audacy to Claw Back Sports RadioHuge Pay Disparities Discovered at iHeartFord Refuses to Reverse No AM in CarsUrban One Threatened with DelistingSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies Failure … 

You may also like: Employees Win Action Against Cumulus and Still Lose … Uncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy to Claw Back Sports Radio

INSIDE … 

  • The effect of a smaller, weaker sports presence on competitors.
  • Learn whether there will be  more walking away from expensive NFL rights agreements.
  • The strangest Audacy firings perhaps ever – sports head Mike Dee and podcast exec Tim Murphy.
  • The big salaries now being eliminated predict as an indicator of where Audacy will be diminished.
  • The revised and latest Audacy downsizing strategy.

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Click to read more stories: Huge Pay Disparities Discovered at iHeartFord Refuses to Reverse No AM in CarsUrban One Threatened with DelistingSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still Lose

You may also like: Uncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never Buy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Huge Pay Disparities Discovered at iHeart

INSIDE …

  • If you thought you knew what the top iHeart execs are making, you may want to think again.
  • The ratio of CEO pay to that of median employees for 2022.
  • Expensive, high level hiring now going on during layoffs.
  • iHeart’s sorry, not sorry scenario for focusing on firing radio people.
  • 100% pay increases for this year compared to last.

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Click to read more stories: Ford Refuses to Reverse No AM in CarsUrban One Threatened with DelistingSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio Streams

You may also like: Audacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeart 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Ford Refuses to Reverse No AM in Cars

INSIDE … 

  • What the NAB did that made automakers eliminate AM radio.
  • Complete list of carmakers removing AM radios and those keeping it for now.
  • What the industry is calling a victory for the AM band as it is being removed from cars.
  • The prospect of Defund the NAB.
  • Learn why removing AM stations affects FM in the dashboard.

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Click to read more stories: Urban One Threatened with DelistingSeverance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25

You may also like: A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings Preview

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Urban One Threatened with Delisting

INSIDE … 

  • What Urban One is thinking by taking Cox Houston off the hands of a more than anxious seller while deeply in debt.
  • Such a deal – wait until you crunch the numbers.
  • The reason Urban One can’t file its 2022 Form 10-K revenue statement required by the SEC on time while every other group has done so.
  • Their casino ambitions.
  • The way they will spinoff stations to comply with ownership limits.

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Click to read more stories: Severance Abuse During iHeart LayoffsAudacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About Vinyl

You may also like: The Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM Layoffs 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Severance Abuse During iHeart Layoffs

INSIDE …

  • The tactic of changing employee start dates.
  • How they keep holding severance checks back without a non-compete – even where they are not legal.
  • Sample a laundry list of jobs that have nothing to do with radio that fired iHeart employees are now forbidden to take.
  • A look at the hurtful non-competes that the NAB is backing even as Congress looks to dismantle them.
  • The way to outdo iHeart like a top employee just did to catch them off guard.

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Click to read more stories: Audacy Selling Stations to Prevent BankruptcyAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover Audacy

You may also like: Automakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM LayoffsWhat iHeart Is Not Saying About Its Best Quarter Ever

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Selling Stations to Prevent Bankruptcy

INSIDE … 

  • Last year we warned that Audacy will start selling radio stations – they did that late last week as an Easter present to EMF.
  • The reason they had to resort to selling radio instead of podcasting and digital assets that are still on the block.
  • The other assets Audacy is now trying to sell for whatever it can get.
  • The reason EMF is where broke goes to die.
  • And the most important question of all – will Audacy be forced to sell any of their other stations soon?

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Click to read more stories: The Next Format Trend Is Emerging NowAudacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover Audacy

You may also like: Automakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM LayoffsWhat iHeart Is Not Saying About Its Best Quarter Ever

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Next Format Trend Is Emerging Now

INSIDE … 

  • A warning of a format trend that stations will have to deal with to prevent further audience attrition.
  • Three radio formats that look like they are benefiting from this trend already are NOT.
  • Dig deeper into how this trend is different from past changes in listener behavior.
  • Learn how TikTok, social media and covid are impacting audience preferences.
  • The steps forward to safely proceed because this trend also comes with a dangerous no-no.

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Click to read more stories: Audacy’s TankathonLayoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FM

You may also like: A Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM LayoffsWhat iHeart Is Not Saying About Its Best Quarter Ever ... The Prospect of Radio Pay Raises

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Tankathon

INSIDE …

  • The benefit of tanking
  • Rethinking the Reverse Stock plan
  • If you bought Audacy stock ahead of the split, then …
  • There’s an updated new debt figure
  • Learn what they’ve decided to do about their personnel problem

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Click to read more stories: Layoffs & Lawsuits as iHeart’s Troubles MountShould I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeart

You may also like: Uncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM LayoffsWhat iHeart Is Not Saying About Its Best Quarter Ever ... The Prospect of Radio Pay RaisesThe Failed Radio Group That Wall Street Gushing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Layoffs & Lawsuits as iHeart’s Troubles Mount

INSIDE …

  • Fair warning:  iHeart stock may be getting ready to do an Audacy dive.
  • Focus on why the financial world is suddenly worried about the industry’s number one consolidator.
  • Their promise not to lay off more employees made a few weeks ago after taking away benefits.
  • The lawsuit that is being threatened as lawyers are looking for a few good employees to file a Class Action suit – details and contacts.

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Click to read more stories: Should I Air the Trump TrialsThe AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To Something

You may also like: The Arrival of AI-Powered DJsA Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM LayoffsWhat iHeart Is Not Saying About Its Best Quarter Ever ... The Prospect of Radio Pay RaisesThe Failed Radio Group That Wall Street GushingWhy Audacy is Forming 2 Companies

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Should I Air the Trump Trials?

INSIDE …

  • Historical metrics on trials and radio ratings
  • The least risky daypart to air coverage
  • Is gavel to gavel right for you – consult the experts
  • Likely court rules pertaining to audio coverage in 3 upcoming Trump trials
  • The most important step if you go there

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Click to read more stories: The AM Station That Defies FailureEmployees Win Action Against Cumulus and Still LoseUncounted Radio StreamsAudacy Reverse Stock Split Set For May 25A Warning About VinylThe Secret Fight to Takeover AudacyAutomakers Are Considering Removing Free FMA Pivotal Year for iHeartUncharacteristically Negative Field Is Up To SomethingThe Arrival of AI-Powered DJs

You may also like: A Warning About iHeart Local Ad Sales  … The Hottest Radio Stock You’ll Never BuyBank Slaps Negative Credit Impact on iHeartAudacy’s Ides of March Earnings PreviewNext After the SiriusXM LayoffsWhat iHeart Is Not Saying About Its Best Quarter Ever ... The Prospect of Radio Pay RaisesThe Failed Radio Group That Wall Street GushingWhy Audacy is Forming 2 CompaniesCumulus Cash Crunch

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Reverse Stock Split Set for May 25

Audacy has publicly denied or avoided almost every issue regarding their financial survival -- Here’s the surprisingly candid admissions they are telling the government about their Reverse Stock Split under penalty of violating security laws.

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Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How to Successfully Sue a Radio Group

Do this, not that.

Details of how 7 former employees forced a $1 million Cumulus out of court settlement.

What works and what is a waste of money.

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Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Paying Nielsen Client Who Is Fighting Back

One unhappy Nielsen client just found a legal way to get their attention

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Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Jeff Smulyan Torches Bob Pittman

  • Pittman dressed down in public for the first time by a sitting media CEO
  • What happens when you cross him
  • David Field’s strange relationship with Pittman
  • Who Smulyan calls “Thelma and Louise” at iHeart

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Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Blowback Over Audacy’s $825,000 Employee Contract

INSIDE …

  • Details of the lucrative pay package from the same guy who has been firing radio people.
  • A bonus for leaving?
  • What’s gotten into David Field to make him spend like this.
  • How does this bode for other employees ahead?

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Click to read previous stories: Programming to Short Attention SpansHow ChatGPT Can Help a Radio StationRadio Groups Pressured to Cut StaffVideo Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local Radio

You may also like: The Pivot Away from Podcasting …  Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Programming to Short Attention Spans

INSIDE …

  • Solutions to short attention span tune-out
  • What holds attention longer – one voice or two for shows and commercials
  • A no added expense way to keep audiences listening longer
  • A surprising finding about content and attention span

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Click to read previous stories: How ChatGPT Can Help a Radio StationRadio Groups Pressured to Cut StaffVideo Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from Podcasting

You may also like: Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More Assets 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How ChatGPT Can Help a Radio Station

INSIDE …

  • Six specific things artificial intelligence can now do for radio stations at no cost.
  • How AI can help discover new music – the number one interest of in-demo listeners.
  • Microsoft is considering investing $10 billion in ChatGPT – here’s an early look as to why.
  • The future for radio jobs if AI takes off.

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Click to read previous stories: Radio Groups Pressured to Cut StaffVideo Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff Strategy

You may also like: Audacy’s Sale of Radio.com Exposed 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals Exposed

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio Groups Pressured to Cut Staff

INSIDE …

  • The most likely radio group to start cutting personnel first
  • How many gross firings can be expected
  • Layoffs net minor savings so what triggers radio groups to do them
  • One radio group may even see their CEO kicked out

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Click to read previous stories: Video Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed

You may also like: 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga Sale 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Video Podcasts More Popular Than Audio

INSIDE …

  • The research that has radio consolidators concerned
  • The new podcast tool TikTok is currently testing
  • Using music to get short attention spans to focus on podcasts

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Click to read previous stories: How Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big BungleInvasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 Predictions

You may also like: Consolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are Ignored

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How Radio Will Beat FTC’s Non-Compete Ban

INSIDE …

  • The workaround already in the works
  • “Firing” horror stories that radio groups cover up – revealed
  • New ways to retaliate against sellers, managers and talent
  • How soon could radio see non-competes disappear

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Click to read previous stories: Audacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales Commissions

You may also like: Ch-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After Ticketmaster

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Bankruptcy Becoming More Likely

INSIDE …

  • What’s the critical importance of April to Audacy
  • They wouldn’t do a brutal employee layoff after just giving their digital chief over a million in salary and incentives, would they?
  • How the sale of Cadence13 and Radio.com URL is going
  • What to expect when Audacy is delisted from the NYSE

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Click to read previous storiesAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for Radio

You may also like: Bongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Townsquare May Shut More AM Stations

INSIDE …

  • Townsquare’s thinking behind shutting more AM stations.
  • The big radio group that is most likely to follow next.
  • Apple’s plan for CarPlay that makes reassessing viability of AM suddenly more pressing.
  • Where does the concept of offering radio as a paid app leave AM stations?
  • Where does that leave sports betting as the savior of AM?

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Click to read previous stories: Audacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the Beginning

You may also like: Music Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy On a Spending Spree

INSIDE …

  • Pay and benefits that are unlike Audacy’s stingy reputation.
  • Dig deeper into an actual new contract (since the new year).
  • Learn who is fortunate enough to get this type of compensation.
  • First acknowledgement that there could be a change of control ahead.
  • Where this leaves the expected RIFs due first quarter.

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Click to read previous stories: iHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be Near

You may also like:  A Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake Ads

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Suckers 43 Air Personalities

INSIDE …

  • A $10 million plus scam of major proportions that has shaken the company.
  • How they put some of their most compelling air personalities in harm’s way without fully disclosing the risk.
  • Even involving their children.
  • The story so embarrassing that their “most trusted name in radio news” publication refused to cover it.
  • How low iHeart went to bolster billing.

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Click to read previous stories: Saga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car Radio

You may also like: Cumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head Fake 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga’s First Big Bungle

INSIDE …

  • Proof that the Ed Christian era is over
  • The one big change that will disrupt the company
  • Why its founder will soon be turning over in his grave
  • The new Saga management model – would you sign off on this?

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Click to read previous stories: Invasion of Foreign Owners to Local RadioThe Pivot Away from Podcasting Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More Assets

You may also like:  Cash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast Blitz 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Pivot Away from Podcasting

  • A “new” replacement for podcasting as a radio revenue source
  • Changes managers are noticing from corporate about selling podcast ads
  • Deadly honest quote:  “Declining attention spans that now average around 5 seconds make a 20-minute, half-hour or full-hour podcast an impossible task for distracted audiences.”

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Previously: Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga Sale

You may also like: AQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal Buzz

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

2023 Predictions

  • 7 radio predictions, 2 on podcasting, 4 for music industry, 2 for cable news and 3 devoted to streaming video.
  • Predictions about David Field, iHeart, Urban One, Beasley, Cumulus, Townsquare among others.
  • What’s ahead for further consolidation.
  • Area of major concern for the booming music business.
  • Radio’s best company in 2023.

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Previously: Consolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After Ticketmaster

You may also like: Financial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s Success

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

AQH Erodes as Listener Demands Are Ignored

  • Listening has been eroding for years during consolidation due to content decisions made by lenders and hedge funds more interested in cutting costs than attracting new listeners – turns out listeners want something very different.
  • Here’s what they have to say about firing Scott Shannon.
  • If you have to run commercials, here’s what goes over best.
  • How do you play more variety when Nielsen rewards you for playing the more familiar hits?

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Previously: Taylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s Success

You may also like: A Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Taylor Swift Fans Go After Ticketmaster

  • Taylor Swift’s fans are going after Ticketmaster for their part in high fees, cancellations and other outrages in the sale of tickets for her upcoming tour Eras.
  • How consumers are joining to fix the inequities caused by lack of government oversight.
  • The Randy Michaels/Lowry Mays prequel to today’s consumer revolt.
  • Why radio may see revolts like this from disgusted audiences.

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Previously: Financial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio Layoffs

You may also like: Shakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning Shows

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Financial Troubles at SiriusXM

  • Financial troubles based on declining auto sales, a main component of the satellite network’s growth is spurring layoffs that will become evident over the next few weeks.
  • What went wrong with the satellite monopoly that was supposed to be the next great thing in radio – remember? AM, FM and that’s how the name XM was born.
  • But wait: In these ways, satellite is dragging down terrestrial radio, too.
  • And the behind-the-scenes greedy tricks coming from auto manufacturers that threaten satellite and even terrestrial radio.

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Previously: 5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management …

You may also like: Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter Fail

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

5 Warning Signs at Audacy

  • On its way to a likely bankruptcy possibly next year, Audacy is exhibiting 5 dangerous signs that could make the company even more volatile.
  • They’re on the clock toward bankruptcy – what they will do to forestall it.
  • Wait, wait – have you checked their operating cash?
  • Surprise: who owns the most of this declining company’s shares.

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Previously: Feds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from Radio

You may also like: Audacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced Retirement

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Feds Nail iHeart for Fake Ads

  • Six states and the Federal Trade Commission announced a settlement with iHeart and Google for their part into a deceptive ad campaign that featured false endorsements of the Google Pixel 4 smartphone.
  • What iHeart did that was so bad that they are on a 10-year FTC probation.
  • iHeart’s efforts to cover up the story and the huge fine.
  • How they put radio personalities in a position to lie or get fired.

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Previously: Townsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding Debt

You may also like: Saga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Townsquare’s Next Head Fake

  • Townsquare expects no growth in broadcast -- actually a decline (ex-political) in the out years which is driving their move to consider radio a mature cash cow income source – growth will come from digital.
  • Are you SURE they are not a radio company?
  • A clinic for Audacy and iHeart on managing debt.
  • Next year will be very different.

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Previously: Amazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden Problems

You may also like: What Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are Changing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Amazon’s Commercial Free Podcast Blitz

  • Amazon is quietly getting ready to disrupt the podcasting industry and more specifically blow away radio’s perceived built-in advantage by going commercial-free.
  • A tactic that could further damage iHeart, Audacy and other radio companies.
  • And there’s this: new way to make podcast discovery easier.
  • Radio’s podcast infrastructure may have to be reinvented.

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Previously: Only 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for Audacy

You may also like: iHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting Ads

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Only 2 Radio Groups Are Profitable

  • These are the shocking metrics they dare not utter publicly but analysts are whispering privately.
  • The thing the two most profitable radio groups in Q3 have in common.
  • One group is off a whopping -63% -- here’s what they did wrong.
  • A group by group ranking of radio groups that say they make money but don’t.

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Previously: iHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another Bankruptcy

You may also like: Preview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt Problem  

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Could Audacy’s Board Do a Disney CEO Firing?

  • The boards of Audacy and Cumulus would be wise to note the recent proactive move of the Disney Board firing CEO Bob Chapek and rehiring retired icon Bob Iger.
  • How this could affect their likely bankruptcy.
  • Audacy’s version of a ‘Bob Iger replacement’ for David Field.
  • But wait, the issue of Audacy’s board of directors.

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Previously: A Beasley Bankruptcy to WatchAudacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management …Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue Reveal

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Beasley Bankruptcy to Watch

  • The Beasley shortcoming that Wall Street worries about most.
  • Drastic cutbacks of high performing talent.
  • Concerns about burning through cash.
  • A far flung but possible solution with another company.

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Previously: Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy & Beasley Destroy Their Vegas Station Swap

  • Their “shotgun marriage” just got worse.
  • Details on advertisers getting screwed before the transfer.
  • What’s the big rush?
  • iHeart’s role in all of this, yes iHeart!

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Previously: Radio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning Shows 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio’s Role in Taylor Swift’s Success

  • She crashed streaming service Spotify when her latest album Midnights was released, she’s social media royalty and she sells millions of albums when most other artists can barely sell a fraction – and her career was enabled by radio.
  • How Taylor Swift sells albums.
  • The new role for radio’s third golden age in a streaming world.

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Previously: A Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter Fail 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Recession Would Trip Radio Layoffs

  • Look only to the pandemic which was used as an excuse by radio consolidators to reduce their work forces for guidance on what will happen if a recession actually occurs.
  • The reason the big 3 consolidators would actually welcome a recession.
  • Revised bankruptcy dates for struggling consolidators (and why).
  • The type of radio station that will breeze through any economic downturn.

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Previously: Shakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced Retirement

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Shakeup in Station Management

  • Over indebtedness and failure to monetize scaled down on-air content are responsible for a virtual collapse of radio monopolies as growth businesses.
  • The on-air content they are moving toward.
  • A new twist on out of market management.
  • And yes, they’re going there – sales shakeup in advance of the recession.

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Previously: Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Townsquare Distances Itself from Radio

  • What happens to digital-first Townsquare if big tech implodes.
  • The future of their “mature cash cow” radio operation.
  • What we’re hearing about another Townsquare acquisition.
  • Beasley and Audacy are ferociously cutting jobs, what about Townsquare?

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Previously: Audacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are Changing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Burning Cash and Adding Debt

  • The Third Quarter stats Audacy is hiding
  • Their current liquidity situation
  • The messy, painful months ahead
  • Can this company be saved?

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Previously: Saga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting Ads

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga’s Hidden Problems

  • Ed Christian’s succession plan
  • Is a management shakeup imminent?
  • The prospects for selling the company
  • Saga warning: What happened to the Maytag repairman

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Previously: What Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt Problem

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What Now for Audacy

  • Station sales, delisting, refinancing and bankruptcy
  • Straight talk about RIFs
  • Major assets that will likely have to be sold
  • Maybe another name change?

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Previously: iHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own Layoffs

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Stalling Another Bankruptcy

  • The best bet on when the next restructuring will come.
  • Which competitors iHeart is hurting most just to break even.
  • Their way of raising executive compensation while eliminating other jobs --- confirmed.
  • 3 questionable trouble areas to watch.

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Previously: Preview of Tomorrow’s Audacy Revenue RevealiHeart targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span Problem

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Preview of Tomorrow’s Audacy Revenue Reveal

  • By the end of the day tomorrow, the country may not know who won the mid-term elections, but they will know Audacy is out of options to survive as a going concern.
  • What’s going on the block to pay debt.
  • An expected signal for lenders from their CFO Richard Schmaeling – decoded.
  • On the DEFCON scale, Audacy’s condition for readiness to survive.

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Previously: Radio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span Problem

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio Groups Drowning in Debt

  • It’s been just a week since the first of the 3rd quarter radio financial results have been released and early indications are that the major consolidators are so losing the debt battle that their operations promise to change as soon as next year.
  • The real debt numbers, not sugar-coated
  • What to keep an eye on
  • Pencil these desperation moves in for early 2023

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Previously: iHeart targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial Revenue 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Targeting Audacy

  • iHeart is now moving to weaken its largest competitor Audacy by going after the sports rights franchises they now dominate, continuing to pressure ad prices where they compete and possibly steal their talent. 
  • Their predatory tactics to take down Audacy 
  • How their main growth is now coming from hurting competitors 
  • The dirtiest trick of all that could humiliate Audacy

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Previously: “Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards Bankruptcy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

“Commercial-Free” Hours Killing Morning Shows

  • After workarounds designed to bury huge commercial loads, stations are finding that sacrificing some of the morning show for a commercial blitz to make other hours commercial free is provoking some unintended consequences.
  • Audacy got themselves into trouble with this – here’s the research.
  • iHeart’s even more radical approach.
  • But here’s what the audience wants. 

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Previously: Cumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley Deal

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Cumulus Masquerading 3rd Quarter Fail

  • Cumulus reported third quarter revenue down 2% - that’s the good news
  • You won’t believe their fastest growing revenue stream
  • And how they are hiding debt in broad daylight
  • The net effect of staff reductions on actual financials
  • Net leverage of other groups is averaging 5.5x – here’s Cumulus’

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Previously: Scott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Scott Shannon’s Forced Retirement

  • Audacy walked away from WCBS-FM, New York morning personality 8½ years after CBS Radio President Dan Mason hired him but the real story is not what Audacy is publicly saying.
  • The surprise executioner.
  • A likely replacement who will work for a lot less.
  • Is David Field the next retiree?

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Previously: The Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at Audacy 

You may also like: Audacy Fire Sale Begins Fears Mediabase Merger Will Hurt Indie Artists Beasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” Stations 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Future of Free Radio

  • A way for free, commercial radio to charge for subscriptions
  • Why free radio is getting creamed by paid streaming
  • The proponent for making social media “paid” as an idea for free radio
  • The “you only pay for what you need” concept
  • Here’s what audiences will pay for on free radio 

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Previously: Attitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale Begins 

You may also like: Fears Mediabase Merger Will Hurt Indie Artists Beasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Attitudes About Radio Are Changing

  • A new time for the morning show
  • The desire for more than just music but still including music
  • What streamers are sensing audiences want next
  • How they’re already adapting content to their shorter attention spans
  • Young demo wish list for radio 

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Previously: Radio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie Artists

You may also like: Beasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio Books 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Ignoring Their Debt Problem

  • The sensible way back to health that Audacy refuses to take
  • Proof the current fiscal crisis was avoidable
  • How spending $25 million could have saved $6 million plus a year in lower interest costs
  • The downside of the reverse stock split to avoid NYSE delisting

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Previously: Beasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie ArtistsBeasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire Sale

You may also like: Sports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio Selloff

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio’s Attention Span Problem

  • When attention span starts to drift for radio (and podcasts)
  • How radio stations are losing listeners by making it worse
  • Tactics that work against listener attention erosion
  • A simple fix for lost listening for commercial overload and music

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Previously: Digital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie ArtistsBeasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast Audiences

You may also like: Warshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage Consolidation 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Other Audacy/Beasley Deal

  • A reported factor that preceded the Las Vegas station swap
  • Why Audacy took an AM stiff and swapped a better FM
  • A premonition of things to come between Audacy and Beasley
  • The current Beasley layoffs as a bellwether of the next few weeks

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Previously: Olivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie ArtistsBeasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” Stations

You may also like: Surprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage Consolidation Expanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry Mays

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Coming Audacy New York Fire Sale

  • Cash the minute you want it – how the long-delayed all-news move for AM to FM went down.
  • The disrupted future of all-news in New York City.
  • The immediate advantage to David Field.
  • Station sale options.
  • The missing piece of the puzzle – suddenly found.

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Previously: Sports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage Consolidation

You may also like: Expanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering UpiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with Commercials 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Remembering Todd Wallace

Late Friday caller ID flashed my longtime friend Todd Wallace was on the phone.

I answered with “hey, how ya doin’” in my best Phillyese.

The voice on the other end was Todd’s son-in-law who said “I don’t think this call is going to go the way you thought it would” and informed me of Todd’s passing.

His credentials were rich:  Big 8 Drake jock, program director, consultant here and in Australia and New Zealand, the “father of call out passive music research” and on and on.

I know him from our long relationship and mutual love of radio.  When I founded Inside Radio, Todd supplied his audience ratings even before the publication made it big.

When I moved to Phoenix, Todd along with fellow buddy Bill Gardner founded the “Scottsdale Study Group” to study the lunch menu at local restaurants and pursue non-stop two-way conversation about all things radio.

Bill and I once stayed on after one of our lunches to talk right up until dinner – non-stop talk with no commercials in a way.

We had regulars like Bruce St. James and John Sebastian and a host of friends like Gary Edens, the late Jim Taszarek and many others.

We’d have guests passing through join us like Scotty Brink – sometimes in ways a bunch of program directors could appreciate like the time I invited a radio acquaintance who said he was on his way to check into hospice where he expected to die.

Lowry Mays picked up the tab because every time I got my Amex out I told them that the hardnosed founder of Clear Channel who tried to sue me for $100 million wound up settling for millions to get me to drop my countersuit so before wallets came out, the question would be posed, is Lowry paying?

Back to the programmer on his way to hospice -- he died and I covered it in Inside Music Media but a few years later he returned from the dead – that’s right, he never died – to stage a bank holdup.  You can’t make this stuff up.

Bank bandit or not, how could we know – he was a programmer who loved radio, that was the ticket to admission. 

Todd often encouraged me to give voice to the radio industry and its people we love who know how to do the best local radio and expose the evil ways of hedge funds and their CEO puppets – like I needed encouragement.  Still, I appreciated that my friend appreciated what I was doing.

I don’t have to tell you that every loss is a tough one and particularly so when it is a radio friend.

Radio is like ice hockey – we compete ferociously but always shake hands in the end to show respect.

I’m glad I never had to go up against “One-book Wallace” as he was called for his ability to fix stations quickly and make them bulletproof.

And now that I’ve had a few days to let it sink in Todd’s passing reminds me of how fortunate we are to be in an industry where we care about the audience, probably make less money than we could doing something else and forge wonderful lasting relationships with everyone -- even competitors.

Todd was an outstanding radio guy and devoted friend, I celebrate his life today by reminding myself and all who will listen that like radio, even friendship is local.

Previously: Surprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage ConsolidationExpanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering Up 

You may also like: Uncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to AcquireAudacy Weighs More Layoffs

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Why Audacy Continues to Deny Bankruptcy

  • What Audacy fears even after iHeart and Cumulus succeeded in bankruptcy
  • How employees are being played for fools
  • Proven employee advantages of bankruptcy
  • “Thoughts from CEO David Field on the iHeart Bankruptcy Filing” that checks off all the boxes for an Audacy bankruptcy

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Previously: Late-Stage ConsolidationExpanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering UpUncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with Commercials

You may also like: A Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to AcquireAudacy Weighs More LayoffsSaga Cashing Out Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises Revealed

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Expanded Firings on the Table at Audacy

  • Their cost-reduction pledge to lenders 
  • Why new debt reduction measures are coming
  • The stalling tactics up next 
  • Evidence that firing is backfiring on David Field

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Previously: Saga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering UpUncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance Royalties 

You may also like: A Warning About All Those Audacy Bankruptcy DenialsSaga Wants to AcquireAudacy Weighs More LayoffsSaga Cashing Out Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff Promise 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy & Lenders Reportedly Lawyering Up

  • Legal chatter heard on the street
  • What debtors and creditors fear will happen
  • A concern about what wounded management could do next
  • The fate of the Fields and current management

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Previously: Uncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …   

You may also like: Saga Cashing Out Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Uncertainty at SiriusXM

  • Can they maintain a good cash flow business 
  • Changing listener attitudes becoming evident
  • SiriusXM danger signals
  • A bright spot and headwinds ahead 
  • The solution to SiriusXM’s biggest problem

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Previously: iHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing Out

You may also like: Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists…  The Big Revenue Source Cumulus is Hiding 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How Audacy Lost $1 Billion in 3 Years

  • The mistakes killing Audacy’s chances of survival 
  • 3,500 employees are left – what’s the new number
  • The expected but painful remedies
  • A heads up for over 1,000 part-time employees

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Previously: An Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New Owners

You may also like: Unexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What Would Make Young Demos Put Up with Commercials

  • The thing young demos want most 
  • The tradeoff – these 2 things for more commercials 
  • Radio “sampling” by the young has increased, but … 
  • Positive signs that youth is open to radio reinvented

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Previously: A Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises Revealed

You may also like: Saga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Hail Mary from Audacy

  • A desperate move to save the company from bankruptcy
  • What happens to David Field
  • Coming changes in programming and operations
  • The best-and-worst case outcomes

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Previously: The Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian … 

You may also like: … Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen Tickets

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Truth About Radio Performance Royalties

  • Is the radio industry safe from rights fees for another year (or not)?
  • The deal that the NAB walked away from 
  • Why the music industry must have a deal with radio now
  • Why $100 million is the key

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Previously: A Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff Promise

You may also like: … iHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Warning About All Those Audacy Bankruptcy Denials

  • What to expect when Audacy is expecting bankruptcy
  • Fears that the Field’s have “lost the room”
  • The staff memo that blames others for Audacy’s financial troubles
  • How much time do they have left?

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Previously: Saga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  

You may also like: Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will Do

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga Wants to Acquire

  • Here’s the radio group Saga wants to buy 
  • Just how much cash does Saga have to spend on acquisitions
  • Saga secrets that change everyday operations 
  • Who owns the most Saga stock now – are THEY buyers?

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Previously:  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys … Larkin’s Audacy Cuts 

You may also like: The Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75% 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Field’s Ironic Words on iHeart’s 2018 Bankruptcy

EDITOR’S NOTE:  Audacy took exception to my recent article that emphasized the irony of David Field’s own words that were critical of iHeart and Cumulus when they filed for bankruptcy.

I also pointed out how Audacy, and then Entercom, were better for not making the same mistakes as their two biggest competitors. Audacy further took exception with my bankruptcy prediction, which I continue to stand by.

Audacy also complained that the article was behind the paywall. I have therefore decided to make the entire article available for everyone to see — his words, the claims, the context, the irony and a link to Field’s entire memo to staff that he asked them to circulate in 2018 so today everyone can decide for themselves:

In David Field's Own Words

On March 19, 2018, Audacy CEO David Field wrote a commentary for his employees on the iHeart bankruptcy – it included references to the Cumulus bankruptcy and what got his two biggest competitors into trouble but by his standard he has also confirmed Audacy’s bankruptcy.

The facts:  Field thought he was setting the record straight (“Since there seems to be a considerable amount of misinformation and inaccurate speculation floating around, I thought it would be constructive to share some facts and thoughts to help clarify the situation.” and invited everyone to share his reporting with “friends, colleagues, partners, and customers”.)

  • The memo which you can read here, is a premonition of things to come as Audacy heads into bankruptcy next year.
  • Several years ago, using his two competitors as examples of mismanagement, Field has now checked off all the same boxes that apply to his company now.

Why iHeart & Cumulus went bankrupt

  • Field: “First, iHeart and Cumulus went bankrupt because years ago prior management teams made ill-advised decisions to place too much debt on their companies.  Period, full stop”.
  • “We did not make the mistake of overleveraging ourselves and yet we still emerged as one of Radio’s two largest companies with the scale, brands and capabilities to compete to win”.
  • Audacy is overleveraged with almost $1.8 billion in debt that can barely be covered by quarterly earnings making it what Wall Street calls a “zombie company” existing to pay debt and not grow which explains their 54 cent stock price, delisting threat and baked in expectation of bankruptcy next year.

Famous last words:  Audacy will have the strongest balance sheet

  • Field: “And even after our competitors come out of bankruptcy, we will still have the industry’s strongest balance sheet, providing us with the financial strength to build and grow and invest and play offense for the years ahead.”
  • The truth: The value destruction he’s overseen has already dwarfed Cumulus CEO Berner’s disaster.
  • Approximately $2.5 billion of equity value destroyed since the CBS merger.
  • The debt value destruction is well over $500 million putting the total over $3 billion. 

Tell advertisers about iHeart’s problems  

  • “Let’s make sure we get the word out so that our advertisers, partners, and other key influencers understand the facts and don’t come away with any false perceptions.”
  • Advertisers and others are already getting the message that Audacy was no different from other radio groups that got in trouble and filed for bankruptcy making his words appear like arrogance when reflected on.

My deadly honest POV

  • I get the feeling that Field doesn’t play well with others – Audacy is his company and every decision has been his which means the low stock price, botched CBS Radio merger, out of control debt and the need to file bankruptcy is all on him.
  • A responsible board of directors would have replaced management - now they’re going to ride it over the cliff to Chapter 11. 

Email Jerry here

Newstips here 

The Musonomics podcast on Neighboring Music Rights that are similar to performance rights but paid to record labels and performing artists rather than to songwriters and publishers – and, there is a radio station component in this.  Hosted by NYU Professor & Music Business Program Director Larry Miller.  Listen here.

Upgrade to an annual subscription and save $19 here.

My thought-for-the-day here.

Jerry Del Colliano is a professor at NYU Steinhardt Department of Music and Performing Arts Professions Music Business Program.  His background includes Clinical Professor of Music Industry at the University of Southern California, TV, radio, program management, publishing and digital media.


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Previously: Audacy Weighs More LayoffsSaga Cashing Out Field’s Ironic Words on iHeart’s 2018 BankruptcyAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy Cuts …   

You may also like: Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … The Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Weighs More Layoffs

  • The reason Audacy isn’t firing greater numbers between now and December 
  • One position that will actually increase in number 
  • Why Audacy is dragging out the firings 
  • The revised estimated target for total layoffs

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Previously: Saga Cashing OutAudacy’s Lenders to Become the New OwnersUnexpected Drama at SagaAudacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year … 

You may also like: Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

David Field Confirms Audacy’s Bankruptcy

  • Field on the danger of overleveraging
  • The startling amount of Audacy equity destroyed since the CBS merger
  • The missed opportunity of having the industry’s strongest balance sheet
  • A premonition of bad things to come in his own words using iHeart & Cumulus as negative examples.

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Previously: Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …   

You may also like: Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Why Millennials Reject Radio

  • Results of a real time perceptual research study reacting to a Z100 stop set
  • The unedited 14-minute video with comments (excruciating)
  • How many commercials you can get away with without mass tune-outs
  • All you need to know in their words to win them back

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Previously: Audacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed … 

You may also like: Apollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 Cents  

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Lenders to Become the New Owners

  • A timetable is beginning to unfold
  • New owners’ effect on everyday operations
  • How their all-time low stock price triggers bankruptcy
  • David Field’s 4 fatal mistakes
  • Will new owners turn around Audacy?

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Previously: Unexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year…  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …   

You may also like: How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Unexpected Drama at Saga

  • The emerging problems causing all the uncertainty 
  • The warning about insane trading of Saga stock
  • Serious options that will be on the table
  • The life raft Ed Christian threw to his successors

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Previously: Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio … 

You may also like: How Employees Would Fix Audacy$5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Pre-Layoff Raises Revealed

  • The fortunate who got raises instead of getting fired
  • The way Audacy could have easily avoided laying off 5%
  • A $22.5 million rescue fund squandered 
  • A plan where they could have saved 50 mission critical employees – still can, but won’t

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Previously: Saga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy … 

You may also like: $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga After Ed Christian

  • Why Saga stock was up 15% upon the death of its CEO 
  • You can expect these changes over the next few months 
  • The major protection that Saga loses upon the death of Ed Christian

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Previously:  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets … 

You may also like: Plunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder Revolt

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Ed Christian – An Appreciation

I’ve written a lot of things about the fools who have ruined the radio industry by losing their local focus, firing staff, plugging in cost-cutting measures and devolving to selling ads at whatever they had to do to screw their competitor out of the buy.

This was not Ed Christian.

Ed was a radio junkie – listening to all his stations, regularly chatting with his market managers, insisting on rate integrity, local content and old school ideas.

My friend Tom Taylor, the fine journalist who covered the radio industry for decades remembered the person who lived the local radio life:

  • “Ed Christian was all about being (and appearing to be) local. The Norfolk stations aren't marketed as owned by Saga, but by "Tidewater Communications." The stations in Coastal Maine are "Portland Radio Group," etc.
  • “And when Ed came to town for a visit and there happened to be a client party, he didn't want the focus to be on him - but on the local market manager. Because that person was the one the business community was interacting with, and not The Big Out-of-Town Boss. 
  • “Also - Ed was insistent on the local facility looking business-like, and ready for a client visit, at any time. None of this stuck-away-in-the-back-of-the-strip mall stuff. (Jerry Lee was the same way - B101 had a prominent room up front for client/ad agency visits, and it was impressive as hell. It was like Mad Men, updated. I don't know about the liquor cabinet).”

Different in every way

  • Saga actually owned the buildings (with few exceptions) from which their stations operated – this in a world where larger group owners were rushing to get out of town.
  • A few weeks ago, he told me that he bought iHeart’s building in Norfolk for a little over $1 million – iHeart happy to get out, Eddie thrilled to get in saying within a few years the move would save them on rent.
  • He was kind in very private ways – I know of circumstances where he helped employees through health issues by opening up his wallet and being supportive and never looked to publicize or take credit for it.
  • He was right about Nielsen and when they sued him for what I believe was a trumped-up charge of stealing ratings, his ‘punishment’ was to become a Nielsen subscriber but when the mandated ‘punishment’ was over, he cancelled that day – years later he subscribed in a few larger markets at his price and terms.
  • Ed was a pioneer in the use of translators to cover a market and also reluctant to spend on streaming where he didn’t think it contributed to the bottom line – different, unheard of but apparently it worked for Saga.
  • He used to tell me some of the old school promotions that his local clients were eating up that helped Saga return profits for their shareholders and marketing help to retailers.
  • We talked about teaching – he shared his experience as a visiting professor.

Eddie loved reading me unless I got out of line and then in the earlier days we would have at it but as the years went on we agreed on the sorry state of radio and the importance of local radio in reality not just name.

And when he got mad at me, he let me have it.  But I always loved him – we didn’t have to agree to be friends.

His death caught me by surprise – as I’ve said, he seemed to be doing fine – but I have this empty feeling for the loss of a friend who had a great sense of humor, who kind of admired what I did and how in the end, he turned out to be the only beacon focused on authentic local radio.

A saga is a long story of heroic achievement.

To those of us who are proponents of local radio instead of hedge fund shortcuts, Ed Christian’s Saga and (small ‘s’) saga was completed with consistency, dignity and sense of purpose and profitability.

As Tom Taylor says “They don't make 'em like Ed Christian any more” and therein lies the reason for the mess radio is in today.

Saga After Ed Christian

Audacy Rethinks Its 5% Layoff Promise

  • What they’re not revealing about their one and done layoff promise
  • The real number of layoffs for the next four months
  • A surprise area Audacy will target next for mass firings
  • A formerly untouchable cutback is suddenly on the table

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Previously:  iHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …   

You may also like: What iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart’s Plan to Take 100% of Local Buys

  • iHeart rate hardball just got worse 
  • The surprises iHeart is readying next
  • You may have to defend against the practice of “limbo” selling 
  • A heads up for iHeart competitors fighting over the same ad buys

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Previously:  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding…  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do

You may also like:  Audacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing…  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Larkin’s Audacy Cuts

  • A first indication of size and locations
  • Larkin’s whereabouts next week
  • What David Field is reportedly telling employees privately 
  • A warning about sales changes and a revised compensation plan 

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Previously:  Audacy’s Unspoken Plan to Avoid BankruptcyThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed … Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do

You may also like: Audacy & iHeart Undercutting Ad rates by 75%Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing…  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Unspoken Plan to Avoid Bankruptcy

  • Options to stave off losing control of the company 
  • There’s a problem with a plan to get their stock up over $1 
  • Stuff you should know about Audacy’s podcasting businesses 
  • What to expect when you’re expecting massive layoffs – there is a safe time

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Previously: The Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% … 

You may also like: Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Cox Radio Sale Finalists

  • The most serious bidder 
  • Who else is likely kicking tires
  • What Apollo/Cox is doing ahead of any potential sale
  • How the Apollo/Cox selloff will end 

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Previously:  The Mother of All Audacy Expense Cuts …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% … 

You may also like: Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Mother of All Audacy Expense Cuts

  • Admissions about belt-tightening
  • The plan they’ve been working on behind the scenes
  • The way they plan to handle stock delisting
  • Unspoken trouble ahead that could disrupt everything

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Previously: iHeart Revenue Wins at Audacy’s Expense …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75%

You may also like: …  Audacy’s Big Reveal  Warshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Revenue Wins at Audacy’s Expense

  • Tactics iHeart is using to squeeze their 2 competitors out of business
  • How monopoly has turned against Audacy and Cumulus 
  • How this affects iHeart’s debt problem 
  • What a whiz bang quarter means for layoffs
  • And my deadly honest POV 

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Previously:  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal

You may also like:  Warshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  A Paid FM App Replacing Car Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Big New Revenue Source Cumulus is Hiding

  • Their dumbest move of the year – almost everybody agrees
  • Repercussions from the dismantling of Westwood One
  • The real story on Cumulus digital
  • Their mysterious new business revealed yesterday only as “Other” but is suddenly 10% of their total revenue

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Previously:  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio

You may also like:  Warshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad Rates

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Faces Bankruptcy Next Year

  • What this means for Audacy stations and personnel
  • Can David Field remain in power as Berner and Pittman did? 
  • Why Audacy market managers are in ill-humor 
  • The 10-to-1 reverse stock split as a Hail Mary

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Previously:  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do…  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year … 

You may also like:  Warshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad Rates

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

$5,000 Springsteen Tickets

  • It’s dynamic pricing – and oh, by the way, radio sellers should learn about it.
  • What former American Airlines CEO Bob Crandall told my radio workshop about “continuous pricing”.
  • The threat bigger than $5,000 tickets that could impact the future of live events. 
  • Taylor Swift’s answer to ticket scalpers that made her $50 million more on tour.

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Previously:  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 Cents 

You may also like:  iHeart Crashing …  A Change in Radio Rates and Contract Length  …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

What iHeart Will Do

  • A warning about how they will operate after missing revenue goals
  • Starting to change the way they handle local sales
  • How they will make up the decline in local and national revenue 
  • Their new podcasting narrative 
  • How their bankruptcy may have to be re-engineered

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Previously:  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length 

You may also like:  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel … Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

Audacy & iHeart Undercutting Ad Rates by 75%

  • The dire warning from Katz rep firm about Audacy’s predatory tactics (read it)
  • How NASCAR got duped into out of target stations due to aggressive Audacy rate cutting 
  • The way Audacy beats the asking price even before competitors get to bid
  • Two big advertisers who are spending 25% of their previous budget to get the same number of ads -- or more. 
  • What happened when Saga deliberately undercut Audacy to see how low they would go.

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Previously:  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length   

You may also like:  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel … Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

A Paid FM App Replacing Car Radio

  • The nascent $23 billion business that threatens radio’s main access point 
  • Where BMW is charging for heated seats, steering wheel and other add-ons 
  • How manufacturers envision FM radio as a recurring revenue source not a freebie
  • The car company that is already charging for radio

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Previously:  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel  

You may also like:  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Warshaw Walks Away from Cumulus

  • How the board kept Warshaw’s consortium from buying the company 
  • The name of the private equity firm that quietly put up the money 
  • The true offer from Warshaw that board chairman Andy Hobson slow walked 
  • The board feared angering Mary Berner – here’s why.

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Previously:  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to Radio 

You may also like: Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Audacy’s Long Goodbye

  • The next cuts investment banks are predicting 
  • The danger of being delisted from the New York Stock Exchange 
  • Watching for the dreaded reverse stock split 
  • Can podcasting, sports betting and digital save Audacy? 
  • The difficult conversations Audacy will be having with lending banks that are holding all the cards.

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Previously:  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad Rates

You may also like: … Townsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

iHeart & Audacy Driving Down Ad Rates

  • The reputed largest giveaway by a radio station ever (Audacy) 
  • This week’s iHeart platform deal that eviscerated what a client pays for radio ads 
  • How consolidators are putting the squeeze on independent local competitors
  • How buyers are having their way with radio rates without the knowledge of the client

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Previously:  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station PersonnelThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad Rates

You may also like:  Cumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Most Popular:  Westwood One to Shutter Another Division Audacy Stock Downgraded to Zero Cumulus to Layoff Station Personnel

iHeart Crashing

  • What big banks fear about iHeart
  • Why they are slashing their best possible target stock price
  • How it affects their competitors 
  • One and done or the mother of all RIFs on the way

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Previously:  Audacy Stock Downgraded to Zero …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed Itself

You may also like:  Average Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Audacy Stock Downgraded to Zero

  • What a $0 stock target means for Audacy’s ability to stay afloat
  • How it specifically affects the bankruptcy timeline
  • Rethinking cost cutting and layoffs
  • CBS Survivor:  Can the Fields maintain control?

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Previously:  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

 

You may also like: Recession Plans at the Big 3 Radio Groups

A Change in Radio Rates and Contract Length

  • How independent groups are preventing “rate theft” 
  • How non-intuitive longer contracts are actually working out 
  • The brutal iHeart dictate from Bob & Rich to sellers
  • The idea that stops a bullying consolidator from stealing the entire buy
  • Selling without ratings in an economic downturn

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Previously:  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

 

You may also like: Recession Plans at the Big 3 Radio Groups

Warshaw Inciting Cumulus Shareholder Revolt

  • His next move after getting a second “no” yesterday
  • Why Cumulus won’t even consider Warshaw’s money even as their stock tanks
  • What it would take to get to yes
  • Warshaw’s RIF plan if he eventually gets Cumulus

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Previously: Market Expects Audacy Bankruptcy This YearCumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Market Expects Audacy Bankruptcy This Year

  • It’s not their $1 stock price, it is something more worrisome to financial interests
  • The thing that will likely be the last straw to push them into bankruptcy
  • What happens if Audacy goes under (we’re seeing signs even now)
  • The fate of programmers, sellers and their much-despised compensation package

Read the full article now   

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Previously: Cumulus to Layoff Station Personnel Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Cumulus to Layoff Station Personnel

  • The cutbacks that are planned for already thin Cumulus stations
  • Who will be targeted
  • Why last week’s Westwood One layoffs are not over
  • How for the first time this changes things for Cumulus market managers

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Previously: Westwood One to Shutter Another DivisionThe Danger of Electric Cars to RadioAudacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Westwood to Shutter Another Division

  • One of the most insulting firings in radio history replayed step-by-step
  • Why money losing Cumulus is shuttering a moneymaking division
  • What this means for the future of Westwood One
  • What’s about to come next in detail -- soon

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Previously: The Danger of Electric Cars to Radio Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major Expansion Cumulus Just Screwed ItselfAverage Song Length Nose DivesRecession Plans at the Big 3 Radio Groups

Cumulus Just Screwed Itself

Jeff Warshaw and his purported yet unidentified consortium of lenders recently offered $15-17 a share to takeover Cumulus.

Mary Berner and the board rejected the offer and got away with it as no shareholders even challenged their refusal to be bought.

Since then, Cumulus stock dropped to $8 and had Warshaw’s group actually been able to finance a takeover between $15-17, Cumulus shareholders would have been the winner while Warshaw presumably would try to wiggle out of it Elon Musk style.

But it gets worse.

Not only did Cumulus shareholders get screwed out of what is likely to be their best and only offer to cash out, Mary Berner then made what is turning out to be a costly mistake that is likely to hurt Cumulus where it matters most – at the station level. 

Read the full article now

Previous articles here

iHeart’s Moving to ‘Touchless Radio’

Average Song Length Nose Dives

Recession Plans at the Big 3 Radio Groups

Recession Plans at the Big 3 Radio Groups

INSIDE >>> 

  • The recession will be like a radio promotion for Bob Pittman who in the past never missed an opportunity to reduce iHeart’s workforce during a very public crisis – his summer wish list to shrink the company footprint.
  • What employees at Cumulus/Westwood fear the most – and why they’re right about the corporate focus on hurting the employees they retain.
  • With revenue lagging Audacy will use the recession to do the unthinkable where no other radio group has gone before.
  • For the smaller groups, indies and mom-and-pops, first look at what you’ll be competing against.

Read the full article now

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Podcast Listening Slowing & Cratering

Podcasting is a direct result of radio refusing to do talk programming other than right-wing politics – now after a boost from the pandemic, research shows podcasting is beginning to hit the wall even as it remains largely unprofitable. 

If Bob Pittman likes it, count me out.  Nothing personal.  If David Field likes it, I ask which one of his “one” advisor got to him and if Mary Berner likes it, I ask how does this translate into making money off podcasting personally.

Here’s the secret study.

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Wall Street Bails on iHeart

I guess it took a financial downturn for banks and private equity to see the danger of propping up iHeartMedia because now all bets are off.  And stations relying on digital revenue have a brewing scandal to deal with.

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The Future of Remote Working in Radio

  • Clue: the big groups love remote working as much as their employees – but changes are coming. 
  • How it will specifically affect pay and pay raises (for companies that are long overdue).
  • They will even expand virtual even as other industries are trying to force their workers to come back to the office – but here’s the part radio employees may not like.

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Online & Podcasting Are Slipping

Inside this article …

Online and podcasting’s ‘moment’ may be over – new evidence suggests that the hope or fear of their success may have peaked.

  • Online advertising will peak, not grow and advertising will return once media companies make the advertiser’s success their focus again – for a clue, look to independent and small market local radio stations who are doing just fine as their big competitors suffer. 
  • Podcasting was never to be a vibrant business, but it is a competitor in time spent listening to radio – stop promoting it unless it directly boosts your stations audience. 
  • If the private equity firms propping up Cumulus, Audacy and iHeart didn’t exist and the NAB didn’t sneak radio consolidation into the 1996 Telecom Act, radio would have invested in the future and adapted to changes such as digital as it always has (remember how radio adapted to the coming of television?). 
  • The recession is coming and radio will do as it always does – help advertisers efficiently and cost-effectively sell their way out of it and to those groups that invest in better programming and fewer irritating commercial units, they will get the highest rates while the content destroyers will get the leftovers.

Read the full article here

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Sports Betting Set to Disrupt Local Revenue

  • The one really positive thing in radio revenue for major markets is the nascent category of sports betting.
  • Some groups like Audacy are hitting it out of the park and others like Cumulus find themselves in the unenviable position of breaking up with their big sports betting sponsor shortly after the wedding.
  • The category’s strength is standing up to time although there are certain areas of concern that are being watched closely.
  • Among them: which sports betting markets are the most desirable and the ones likely to keep pumping money into local radio.
  • And there is a cryptocurrency angle (don’t worry if crypto puzzles you, my NYU students are grappling to understand the new currency) but one radio group is betting their future on becoming a cryptocurrency player in sports betting.
  • The leaders in sports betting revenue are Audacy, iHeart and Beasley – what they’re doing is worth watching closely.

Read the full article here

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Why Public Radio Is Kicking Ratings Ass

Have you been noticing how public and NPR stations are beating commercial competitors and even winning top rank in Nielsen’s lately?

It’s no accident – a convergence of stupid radio tricks, public radio’s good fortune and some very shrewd programming in the digital age.

I’ve isolated 8 contributing factors that – like it or not – commercial competitors are going to have to deal with from now on.

I know, public stations have no commercials but they also tend to have no debt and believe it or not that’s NOT the main reason for public radio’s ratings success.

And they are generally too poor to beat commercial competitors with more local programming, so why is this trend building?

One clue is that there is a “new local” and public stations are getting good at playing it.

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Bill O’Shaughnessy: An Appreciation

Over the weekend, the quintessential local broadcaster William O’Shaughnessy passed away at 84.

I have known Bill O’Shaughnessy since I first founded Inside Radio.

He was a great and active supporter who has always subscribed and he has always been a great fan.

He’d call and shout “Hey Del Colliano” or “Professor” and engage me in one of three intellectual pursuits – local radio, the First Amendment and Bill O’Shaughnessy.  I wish you could have heard those calls over the decades.

When Cheryl and I got married 24 years ago, Bill attended our wedding in Philadelphia but he was also responsible for recommending the 12-piece society orchestra with three vocalists from New York who knocked them dead at the celebration.

But I paid the exorbitant fee – twice!  Once for my wedding and again when my daughter married, she begged daddy for the same orchestra Bill recommended which I then hired to fly in to Phoenix and bingo, the same magic.

We argued about politics but it never got nasty – oh, maybe I accused a smart guy of being beholden to dumb politicians, but how could I mean that – he knew.

And as hard as he tried, he could never make me like the NAB – I like and liked a lot of the dedicated people who work there, just not their misguided mission to suck up to the greedy bastards who ruined the radio business.

I can see Bill in heaven right now, saying “but wait, professor” – he never gave up trying to talk “sense” into me.

The first time I received a package from his two small local Westchester stations I was impressed with his money until I opened it to read a self-published “ratings” booklet with the names of local, national and prominent politicians waxing eloquent about his stations – pure genius.  No numbers.

I read on and saw my name in there with a quote from me – I made his self-published ratings book.

Actually, Bill was ahead of his time here as well because he was an ‘influencer’ before social media made it popular.

On the First Amendment, he was rock solid – if he was wrong, he erred on the side of everyone who disagreed which made him right in my book.

On local radio, he never put syndicated political talk on his station the way most owners do, he never admitted that AM was declining, he was a “towny” and proud of it in the elite surroundings of Westchester, NY. 

And he didn’t sell the stations.

Bill, you (I know you’re listening) were right about local radio – you made it work, lived it, breathed it, celebrated it while your competitors were selling out to the highest bidder.

I could go on, but there’s one thing I saved for last.

Bill – the master publicist – would snail mail the appreciations he wrote or delivered at the funerals of prominent people.

It doesn’t take a writer or a professor to appreciate his masterful use of words including descriptive adjectives, colorful words and action verbs.

He made the dead come alive again in all their glory if only for a few short minutes.

I know no equal to Bill’s ability to celebrate a life in words so it would be heresy to even try absent his many skills. 

So, I suggest everyone cancel all plans to leave the earth, brother Bill has left us for another local market higher up and there will be no one to stage a fitting farewell.

Instead stay here and fight for First Amendment rights and the viability of local radio both causes in which he devoted his life, passion and God-given gifts to keep his ‘tribe’ focused on what’s really important.

Jerry Del Colliano is a professor at NYU Steinhardt Department of Music and Performing Arts Professions Music Business Program.  His background includes Clinical Professor of Music Industry at the University of Southern California, TV, radio, program management, publishing and digital media.

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Radio Groups Prepping for Recession Firings

iHeart used the nascent pandemic in early 2020 to fire an estimated 1,000 employees and that was following a pre-pandemic cutback of about the same number.

Audacy was the most aggressive firer of all radio groups in 2021 due to its inability to hit its revenue numbers or equal pre-covid statistics.

Cumulus shrunk Westwood One, pared down its local stations through the use of voice tracking and syndication.

We’re one quarter away from an official recession which is defined as two consecutive down quarters in the real gross domestic product (GDP), an inflation-adjusted value of the goods and services produced in the United States.

The first quarter of this year was down 1.4%.

The second quarter which should become evident in July could be two in a row.

Some groups will jump almost immediately and others will take a short wait-and-see but there is a sense of what order the radio industry will see a return to layoffs.

Read the full article here

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The Knives Are Out for TSQ’s Bill Wilson

Townsquare CEO Bill Wilson is an outlier who is mercilessly sticking it to big group radio executives who can’t match his production and they don’t include him in their club nor do they feel inclined to imitate his success.

Truth to be told, he really pisses off his competitors.

His Townsquare is positioned as “digital first” and then he does the only major radio station acquisition of the year – which is it, then, “digital first” or “radio first”?

Some of his competitors have given him the cold shoulder because he is winning along with iHeart and Salem.

And they haven’t even seen what he’s about to do next.

Read the full article here

Radio’s Answer to SiriusXM’s $150 Million Conan Deal

It looks like the penny-pinching SiriusXM is throwing John Malone’s money around in the unproven area of podcasting.

SiriusXM dropped $150 million on Conan O’Brien’s podcasting ventures – and threw in a dedicated Team Conan channel in a five-year agreement that looks a lot like the successful arrangement they had with Howard Stern who arguably put them on the map.

Crazy money considering what they could have done with the $150 million if they spent it on their many programming channels instead of cheap talent and computer driven formats.

Is SiriusXM starting to hedge its radio bet? 

They’ve already outspent their radio competitors except for iHeart which begs the real question why is everyone willing to spend on podcasts while investing in better radio programming seems like so 1990’s.

Debt-ridden radio companies can’t spend Sirius kind of money on podcasting without tanking their stock and meeting resistance from investors.

But radio they have an answer – the question is, is it the right answer?

Read the full article now

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iHeart To Sell More of the Company

If you’re tempted to see iHeartMedia as a recovering, mega-platform of audio options for future advertisers, you may want to reconsider.

iHeart is a fabulous radio platform in spite of their CEOs pivot to audio – in fact, they grew their radio revenue from Q1 2019 to Q1 2022 ($765 million to $843 million).  It’s a solid performance and clearly superior to peers. 

But iHeart is in play in a different way than some of their competitors.

They would be flying high if it were not for their unacceptable $6 billion in debt so like it or not, iHeart is a takeover candidate.

John Malone’s Liberty tried to steal the company and now UK-based Global Media is publicly courting iHeart with the iHeart lenders still clearly in control.

Global’s investment plans are as important as iHeart’s plan to handle any takeover on their terms – whether they succeed or not, time will tell but now we at least know what those terms are.

Read the full article now

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Where’s Warshaw Now?

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            ‘Zonecasting’ – The Next Radio Debacle

            Susan Larkin’s Eventual Audacy Replacement

            Competitors Call BS on iHeart’s Financials

            Wells Fargo Repudiates Audacy Management

            Audio First Bombs

            The Fallout of Streaming

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‘Zonecasting’— The Next Radio Debacle

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  • The digital streaming model that turns “broadcasting dollars into digital dimes.”
  • Technology over local programming – the consequences.
  • Seamless repeaters putting limited amounts of programming and/or commercials targeting different geographies inside the larger Metro.
  • How public stations are climbing above their commercial competitors’ rating rankers thanks to Nielsen – will the same be true for ‘zonecasting’?
  • Geography is only one factor – and maybe the least important – for advertisers who enjoy cheap, highly-targetable advertising in digital stream.

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Susan Larkin’s Eventual Audacy Replacement

  • What’s up with COO Susan Larkin?
  • The person Audacy employees are talking about as her eventual replacement.
  • The one radio exec who could turn Audacy around in 12 months.
  • Will it come soon enough with bankruptcy, cost cutting and debt issues looming?

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Competitors Call BS on iHeart’s Financials

Wells Fargo Repudiates Audacy Management

Audio First Bombs

The Fallout of Streaming

iHeart Rushing into NFTs

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Competitors Call BS on iHeart’s Financials

  • Our panel of former and current radio CEOs who know how to break out financials and nail Bob Pittman’s 1st quarter misinformation.
  • How iHeart incorrectly keeps claiming revenue growth.
  • The CEOs correct Pittman on profit, digital and podcasting.
  • Their shocking discovery about iHeart cash flow.

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Wells Fargo Repudiates Audacy Management

Audio First Bombs

The Fallout of Streaming

iHeart Rushing into NFTs

Music Discovery Shocker

Audio First Bombs

New evidence shows the big three missed the one name that could reboot radio

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iHeart Rushing into NFTs

  • You may know NFTs as digital artwork that makes headlines when it sells for crazy sums of money – why iHeart’s Bob Pittman is going balls on in for NFTs even as The Wall Street Journal says sales are flattening.
  • Wait, wait – don’t tell Pittman that Coke, Pepsi and Budweiser are getting in big time and he wants to create audio platform products to further drain money from competitor’s radio buys – his plan.
  • Here’s an easy way to understand the definition of NFTs and that dirty word blockchain.
  • There’s money in it for radio but it’s local not national – here’s a link to a list of opportunities.

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Music Discovery Shocker

  • You may want to sit down for this but in a recent NYU student research project, Tinder beat radio for new music discovery – yes, Tinder, the dating app and here’s why.
  • Older folks who were radio’s sweet spot appear to be moving away from radio to streaming – apps like Spotify – why these radio holdouts are increasingly preferring streaming services of all things.
  • Younger demos are preferring YouTube – there’s a major reason for this now.
  • All is not lost for radio but some innovation is overdue – here’s one way to quickly get back into the music discovery arena even with big commercial loads.

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The Cumulus Takeover

  • We contacted top radio execs who have experience acquiring stations, they say the Cumulus board should have taken Warshaw’s money and run – here’s why they didn’t.
  • Those same execs broke down the real Cumulus numbers for you to read and have concluded the company Warshaw was willing to pay $15-17 a share for is actually worth $7 a share or even less – read their notes and numbers.
  • Just in case Warshaw comes back and offers more money for a company that was worth far less than his financial group was willing to pay, here’s why the deal still doesn’t work.
  • Why shareholders may be contacting their lawyers even as we write this.

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The Cumulus Bill of Goods

Cumulus stock went through the roof yesterday even as the Dow lost over 1,000 points. 

  • What’s driving so much interest in Cumulus?
  • How Mary Berner made over $200 million in debt disappear without paying it down.
  • Why the recently rejected Warshaw takeover attempt is a time bomb waiting to go off.
  • The misery Jeff Warshaw can still make for Mary Berner, the person who holds the CEO job he’s always wanted.

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InsideMusicMedia.com

Warshaw’s Next Move

INSIDE …

  • The likelihood of a second Warshaw offer.
  • The part of Cumulus’ $50 million stock buyback announcement they are keeping to themselves (until you read it).
  • My deadly honest POV: What does Warshaw want with a company that has over $1 billion in debt, that still cannot match its pre-covid revenue in an industry struggling with declining revenues?  The answer.

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“Elon” Warshaw’s Bid to Takeover Cumulus

  • On the same day Elon Musk says he’ll buy Twitter for $43 billion cash; radio’s own wannabe Jeff Warshaw offers $1.2 billion to buy Cumulus – is it his for writing a check?
  • The first thing I did when I heard the news was open iCal and see if it was April 1, two fools with the same idea – how does this deal get done?
  • The devil is in the details and the story that is out there for public consumption about Warshaw’s intentions is not the deadly honest private version.

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Newstips

Audacy & iHeart Panicking Over “Audio” Pivot

INSIDE …

  • Audacy and iHeart’s attempt to strongarm radio groups to drop “radio” and join them on “audio”.
  • The private arm twisting going on at the CEO level.
  • Which radio groups are telling them to take a hike.
  • The two mistakes Audacy and iHeart are making that have killed perfectly good companies (we’ve listed some compelling examples outside media).
  • See how Facebooks devolvement to Meta is a warning to radio’s pivot to audio.

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iHeart’s New Format of Last Resort

A Radio Station Young Listeners Will Love

The Fraud of Radio Stocks

Townsquare’s Cash Drain to Take Out Oaktree

2 Radio CEOs Begin to Feel the Haters

Talk to Jerry confidentially

Newstips

iHeart’s New Format of Last Resort

INSIDE …

  • The two underserved groups that prefer radio over Spotify – and they’re getting ignored.
  • Fake formats ready to be installed – competitors may want to beware.
  • And the question everyone wants answered: what listeners think of playing musical chairs with their favorite radio format.

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A Radio Station Young Listeners Will Love

The Fraud of Radio Stocks

Townsquare’s Cash Drain to Take Out Oaktree

2 Radio CEOs Begin to Feel the Haters

Advertisers are Killing Radio

Talk to Jerry confidentially

Newstips

A Radio Station Young Listeners Will Love

INSIDE …

  • I don’t impress easily but I can tell you young adults at NYU are going to take a good look at this attempt to reimagine radio.
  • The features and how they may go over with the next generation.
  • And it is “radio” NOT “audio” making this even more interesting.
  • The advantages that existing radio stations still have.

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The Fraud of Radio Stocks

Townsquare’s Cash Drain to Take Out Oaktree

2 Radio CEOs Begin to Feel the Haters

Advertisers are Killing Radio

The Nielsen Sale’s Effect on Prices

Talk to Jerry confidentially

Newstips

Townsquare’s Cash Drain to Take Out Oaktree

INSIDE …

  • The big price they actually paid for taking out Oaktree, an albatross around the neck of management.
  • Future issues that could greatly impact growth.
  • Specific expectations for further digital moves, acquisitions and hiring for radio jobs – no more speculating.
  • Yet, why most radio groups are refusing to follow Townsquare’s best in show game plan.

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2 Radio CEOs Begin to Feel the Haters

Advertisers are Killing Radio

The Nielsen Sale’s Effect on Prices

Audacy’s Going Problem

Audacy Reportedly Talking a Swap

Talk to Jerry confidentially

Newstips

2 Radio CEOs Begin to Feel the Haters

INSIDE …

  • 2 Radio CEOs begin to feel the haters (not Berner, Pittman or Field)
  • Shocking Nielsen fine print
  • How an established radio business can thrive against digital newbies

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Advertisers are Killing Radio

The Nielsen Sale’s Effect on Prices

Audacy’s Going Problem

Audacy Reportedly Talking a Swap

Audacy’s Hidden Money Problems

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Newstips

Advertisers Are Killing Radio

INSIDE …

  • There’s one thing that station sales reps do that really piss off advertisers – okay, two things and they can be eliminated right now.
  • Don’t tell this to your radio competitors but there is a way forward to cut the spotload and get higher rates.
  • Advertisers don’t want anything to do with testing commercials, but there is a priceless piece of advice you can share before the ad is made that makes it more effective.

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The Nielsen Sale’s Effect on Prices

Audacy’s Going Problem

Audacy Reportedly Talking a Swap

Audacy’s Hidden Money Problems

Disney+ to Start and Ad-Supported Tier

Talk to Jerry confidentially

Newstips

The Nielsen Sale’s Effect on Prices

INSIDE …

  • The sale of Nielsen is a bigger deal than radio stations know with implications that could raise expenses and change the quality of service.
  • Nielsen is looking to get out (with good reason) -- how radio could get burned in the process.
  • Likely outcomes for radio clients and potential clients.
  • The timeline on pricing changes.
  • The one X factor that could cede more control to Nielsen or return power to radio stations.

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Audacy’s Going Problem

Audacy Reportedly Talking a Swap

Audacy’s Hidden Money Problems

Disney+ to Start and Ad-Supported Tier

The Audacy/Beasley Bad Blood

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Newstips

Audacy’s Going Problem

INSIDE …

Needless departures continue, now digital people are leaving, market manager overreach & popular destinations for unhappy Audacy employees.

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Audacy Reportedly Talking a Swap

Audacy’s Hidden Money Problems

Disney+ to Start and Ad-Supported Tier

The Audacy/Beasley Bad Blood

iHeart PD:  Black Ad Not Good for the Audience 

Talk to Jerry confidentially

Newstips

Audacy Reportedly Talking a Swap

INSIDE …

  • Buying stations would likely tank the purchaser’s stock but will swapping? Audacy may soon find out.
  • Debt is a big issue and you can’t find investors but Audacy reportedly has a plan to exit a market(s) to build up others.
  • Four markets are being kicked around in the rumor mill – but that may not be all.
  • While there is one suspected group that keeps being talked about as an Audacy trading partner, there is also another.

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Audacy’s Hidden Money Problems

Disney+ to Start and Ad-Supported Tier

The Audacy/Beasley Bad Blood

iHeart PD:  Black Ad Not Good for the Audience

Drip, Drip of Audacy Exodus Increases

Talk to Jerry confidentially

Newstips

Disney+ to Start an Ad-supported Tier

  • How Disney is making 40% of its revenue from digital advertising and radio is not.
  • Takeaways for radio from streaming audio and video services.
  • Would listeners be willing to pay for fewer commercials?

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The Audacy/Beasley Bad Blood

iHeart PD:  Black Ad Not Good for the Audience

Drip, Drip of Audacy Exodus Increases

The Cumulus House of Cards

iHeart’s “Not Exactly” Recovery

iHeart PD: Black Ad Not Good for the Audience

  • iHeart would like to look the other way on this one because Bob Pittman and Rich Bressler have been repurposing AM radio stations as part of their Black News Network – what just went down is embarrassing and unthinkable.

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Drip, Drip of Audacy Exodus Increases

The Cumulus House of Cards

iHeart’s “Not Exactly” Recovery

Current & Ex-CEOs Break Out Audacy, iHeart & Cumulus Revenue

Audacy Threatens Employees Who Bolt for Beasley

Drip, Drip of Audacy Exodus Increases

  • More recent unwanted resignations raising the total.
  • The company-wide meltdown of sales management explored.
  • How competitors are picking their pockets and ignoring their non-competes.

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iHeart Running Over 41 Units an Hour

The Cumulus House of Cards

iHeart’s “Not Exactly” Recovery

Current & Ex-CEOs Break Out Audacy, iHeart & Cumulus Revenue

Audacy Threatens Employees Who Bolt for Beasley

iHeart Running Over 41 Units an Hour

  • That 41 is NOT including 10s and 15s which are on top of that number.
  • The way iHeart manipulates the spotload while mitigating ratings loss.
  • How they keep it from advertisers (unless you tell them).
  • The list of national advertisers potentially getting screwed.

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The Cumulus House of Cards

iHeart’s “Not Exactly” Recovery

Current & Ex-CEOs Break Out Audacy, iHeart & Cumulus Revenue

Audacy Threatens Employees Who Bolt for Beasley

How the Nielsen Delisting “Blackmail” Succeeded

The Cumulus House of Cards

  • The financials they don’t talk about publicly.
  • Their “acquired affiliate advertising relationships” ploy explained.
  • Future hazards to their financial survival.

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iHeart’s “Not Exactly” Recovery

Current & Ex-CEOs Break Out Audacy, iHeart & Cumulus Revenue

Audacy Threatens Employees Who Bolt for Beasley

How the Nielsen Delisting “Blackmail” Succeeded

Winning Back Podcast Listeners

iHeart’s “Not Exactly” Recovery

  • iHeart beat the easy comp year of 2021 by a mile, but here’s what they’re not saying publicly but are telling the federal government about their fourth quarter. 

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Current & Ex-CEOs Break Out Audacy, iHeart & Cumulus Revenue

Audacy Threatens Employees Who Bolt for Beasley

How the Nielsen Delisting “Blackmail” Succeeded

Winning Back Podcast Listeners

The Downsizing of iHeart Physical Stations

Current & Ex-CEOs Break Out Audacy, iHeart & Cumulus Revenue

  • Enough of the spin doctoring, I turned the big 3 radio group financials over to a truth squad made up of former and present top radio execs who know how to break out financials.
  • Then they broke out iHeart, Audacy and Cumulus profit in naked numbers with nothing to dress them up.
  • Which groups are actually performing as they say and which CEOs are acting like Pinocchio.

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Audacy Threatens Employees Who Bolt for Beasley

How the Nielsen Delisting “Blackmail” Succeeded

Winning Back Podcast Listeners

The Downsizing of iHeart Physical Stations

Chicago Sales Rebellion at Audacy

Audacy Threatens Employees Who Bolt for Beasley

  • How a demoted employee and jilted seller done wrong are now extracting payback.
  • Audacy retaliation: "if one more goes there, I am going to have to get legal involved, and possibly change the non-compete." 
  • How Beasley is successfully circumventing Audacy’s non-compete.

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How the Nielsen Delisting “Blackmail” Succeeded

Winning Back Podcast Listeners

The Downsizing of iHeart Physical Stations

Chicago Sales Rebellion at Audacy

Crazy Changes in Listening Habits

How the Nielsen Delisting “Blackmail” Succeeded

PREVIEW …

  • It’s been 2 years since Nielsen threatened to delist stations that did not subscribe to their ratings service – what followed turned out to be complicated.
  • Nothing dumber than an advertiser and their ad agency – how much they knew, when they knew it and the major things they continue to turn a blind eye to.
  • The radio group that did more to help Nielsen crack down on their competitors – thank them.
  • Horror story in Norfolk.

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Winning Back Podcast Listeners

The Downsizing of iHeart Physical Stations

Chicago Sales Rebellion at Audacy

Crazy Changes in Listening Habits

iHeart Stole Radio’s COVID Advertising

Winning Back Podcast Listeners

PREVIEW …

  • Listeners who listen to podcasts are possibly missing time spent listening to radio and while radio CEOs seem to have no problem driving listeners to podcasting, there are signs that the demos radio needs most are defecting.
  • What podcast spoken word listeners want to spend more time listening to radio again.
  • Flip the script – the anti-podcast strategy that builds audience on music stations even for young audiences.
  • Evidence that this strategy of winning back podcast listeners will work.

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The Downsizing of iHeart Physical Stations

Chicago Sales Rebellion at Audacy

Crazy Changes in Listening Habits

iHeart Stole Radio’s COVID Advertising

Facebook is Having Its Radio Moment

The Downsizing of iHeart Physical Stations

PREVIEW …

  • Their blueprint for smaller radio stations.
  • Often radio CEOs like David Field and Bob Pittman move to redevelopment areas that are not always convenient for employees selling it as investing in local communities – here’s their real reason.
  • What’s next in downsizing actual station floorplans.
  • But they have a problem – sales and like it or not, here’s the solution coming to a market near you.

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Chicago Sales Rebellion at Audacy

Crazy Changes in Listening Habits

iHeart Stole Radio’s COVID Advertising

Facebook is Having Its Radio Moment

Radios Rogan/Spotify Fallout

Chicago Sales Rebellion at Audacy

PREVIEW …

  • In the past week Audacy lost more key sellers in Chicago and Detroit – why is this still happening and what’s the plan to stop it.
  • How bad is it? The eye-popping exodus toll – don’t even try to guess, you’re too low – the complete list.
  • Yes, the much-ridiculed Audacy sales compensation package isn’t helping but it’s something entirely different that is increasing the exodus.
  • And the question everyone wants answered is how are Audacy regional VPs keeping their jobs while revenue tanks needlessly.

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Crazy Changes in Listening Habits

iHeart Stole Radio’s COVID Advertising

Facebook is Having Its Radio Moment

Radios Rogan/Spotify Fallout

Nielsen Overestimates Streaming by 4x AQH

Crazy Changes in Listening Habits

PREVIEW …

  • The changes to talk radio listening habits.
  • Changes in the way they consume music.
  • The significant disruption presently underway.
  • Why radio should be concerned about the coming fan-to-fan trend.

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iHeart Stole Radio’s COVID Advertising

Facebook is Having Its Radio Moment

Radios Rogan/Spotify Fallout

Nielsen Overestimates Streaming by 4x AQH

My NYU Students’ Advice for Radio

iHeart Stole Radio’s COVID Advertising

INSIDE …

  • Passing over stations with far higher audiences because of iHeart’s 3 promises.
  • How iHeart won the majority of COVID ad money.
  • The iHeart ad pitch that the feds fell for.

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Facebook is Having Its Radio Moment

Radios Rogan/Spotify Fallout

Nielsen Overestimates Streaming by 4x AQH

My NYU Students’ Advice for Radio

What Ratings Execs Advise Privately About Floating Clocks

Facebook is Having Its Radio Moment

Inside:  Facebook is radio and Pittman is Zuckerberg – the first one to learn these lessons gets to survive.

  • The true disruption that is bubbling under
  • The Facebook mistakes radio does not want to make
  • How not to turn a company around
  • Warning for radio from Facebook
  • When mature businesses get attacked by new ones

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Radios Rogan/Spotify Fallout

Nielsen Overestimates Streaming by 4x AQH

My NYU Students’ Advice for Radio

What Ratings Execs Advise Privately About Floating Clocks

NAB Threatens Less Airplay for Licensed Music

Radios Rogan/Spotify Fallout

INSIDE …

  • The most vulnerable radio groups
  • The potential effect on right-wing talk radio
  • Free speech or censorship?
  • The real damage to Spotify
  • The unexpected consequences for radio and labels

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Nielsen Overestimates Streaming by 4x AQH

My NYU Students’ Advice for Radio

What Ratings Execs Advise Privately About Floating Clocks

NAB Threatens Less Airplay for Licensed Music

Audacy Looking to Shakeup CBS All-News

Nielsen Overestimates Streaming by 4x AQH

INSIDE …

  • The contentious relationship between Nielsen and its radio clients is about to get more complicated with news that their methodology is inflating streaming ratings and exposing terrestrial owners to cheap tricks by advertisers to get a lower rate.
  • The reason for the streaming overcount that has just been discovered.
  • The adverse effect on terrestrial listening.
  • Why TV clients are getting their issues fixed but Nielsen ignores radio.
  • How advertisers can use streaming overcount to get lower rates.

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My NYU Students’ Advice for Radio

What Ratings Execs Advise Privately About Floating Clocks

NAB Threatens Less Airplay for Licensed Music

Audacy Looking to Shakeup CBS All-News

Amateur Hour at Audacy

My NYU Students’ Advice for Radio

INSIDE …

  • They’re young, but I’ve learned from my time as a professor at USC and NYU to listen because they are more often right then wrong in spite of whether we want to hear it – they’re fresh off a class on media and record label consolidation.
  • Changing attitudes about commercials.     
  • The popularity of podcasting among the young. 
  • A red flag warning for TikTok that could present an opportunity.
  • What it would take to win young listeners back to radio

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What Ratings Execs Advise Privately About Floating Clocks

NAB Threatens Less Airplay for Licensed Music

Audacy Looking to Shakeup CBS All-News

Amateur Hour at Audacy

Nielsen’s Supply Chain Excuse

What Ratings Execs Advise Privately About Floating Clocks

INSIDE …

  • Which radio groups are turning to floating clocks.
  • The group that does 50-60 spots over two hours.
  • What happened when this one radio group tried to reign in commercials.
  • The best times to get the best results.

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NAB Threatens Less Airplay for Licensed Music

Audacy Looking to Shakeup CBS All-News

Amateur Hour at Audacy

Nielsen’s Supply Chain Excuse

Townsquare’s Big Surprise

NAB Threatens Less Airplay for Licensed Music

INSIDE …

  • How the NAB is using music radio as bait against the American Music Fairness Act.
  • Radio’s fear factor from Irving Azoff’s brutal beating on artists rights this week – his playbook.
  • Who is doing more to hurt local radio than the prospect of performance rights fees.
  • Will radio’s ability to pay salaries, utility bills and cover local news be hurt by paying artists.

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Audacy Looking to Shakeup CBS All-News

Amateur Hour at Audacy

Nielsen’s Supply Chain Excuse

Townsquare’s Big Surprise

Investors Fear an Audacy Meltdown

Audacy Looking to Shakeup CBS All-News

INSIDE …

  • The new direction.
  • Changes that have already been made on some of their all-newsers.
  • Changes being tested with a sampling of early results.

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Amateur Hour at Audacy

Nielsen’s Supply Chain Excuse

Townsquare’s Big Surprise

Investors Fear an Audacy Meltdown

First Group to 20+ Spots Per Hour

Amateur Hour at Audacy

INSIDE …

  • The real reason behind David Field’s all-news management shakeup.
  • How stealing a public radio exec could blow up in his face.
  • Audacy’s bungling of the cash-rich all-news format – documented from inside accounts.
  • Will Field pull the trigger on looming all-news consolidation?

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Nielsen’s Supply Chain Excuse

Townsquare’s Big Surprise

Investors Fear an Audacy Meltdown

First Group to 20+ Spots Per Hour

Spotify Blinks

Nielsen’s Supply Chain Excuse

INSIDE …

  • The issue of rebates to radio station clients
  • Misleading radio (at their station expense)
  • The way Nielsen is changing the way it does business 
  • The NPR Nielsen answer

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Townsquare’s Big Surprise

Investors Fear an Audacy Meltdown

First Group to 20+ Spots Per Hour

Spotify Blinks

Desperate Radio CEOs Buy Favorable Ratings

Townsquare’s Big Surprise

INSIDE …

  • TRUTH SERUM: Is Townsquare buying more stations or not?
  • A MINI-iHEART? -- Private stuff going at their stations while they build out digital first
  • ERIK HELLUM – Why hasn’t iHeart recruited this guy?
  • NO LAYOFFS – Can that be? A closer look at Townsquare’s hiring and firing.

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Investors Fear an Audacy Meltdown

First Group to 20+ Spots Per Hour

Spotify Blinks

Desperate Radio CEOs Buy Favorable Ratings

Audacy’s Hiring Problem

Investors Fear an Audacy Meltdown

INSIDE …

  • The scary numbers investors are worrying about
  • The reasons such good stations are doing so poorly
  • Then there’s what’s happening at Kansas City and St. Louis
  • The next few weeks

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First Group to 20+ Spots Per Hour

Spotify Blinks

Desperate Radio CEOs Buy Favorable Ratings

Audacy’s Hiring Problem

iHeart Foreign Sale Still on the Table

First Group to 20+ Spots Per Hour

INSIDE … 

  • The first radio group to opt for the nuclear option.
  • The competitor that outed them in their advisory board conference call.
  • How they are handling listener objections to more commercials.
  • What’s next for spot load limits?

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Spotify Blinks

Desperate Radio CEOs Buy Favorable Ratings

Audacy’s Hiring Problem

iHeart Foreign Sale Still on the Table

Westwood Done

Spotify Blinks

INSIDE …

  • Should the radio industry be watching the war Neil Young started against Spotify’s Joe Rogan?
  • It’s not withholding Young’s music, it’s this that could pressure Spotify.
  • Is it working – is this nascent boycott hurting Spotify?
  • Fallout for radio – follow Apple and Tidal’s anti-Spotify strategy.

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Desperate Radio CEOs Buy Favorable Ratings

Audacy’s Hiring Problem

iHeart Foreign Sale Still on the Table

Westwood Done

Cumulus Fires 9 in One Market

Desperate Radio CEOs Buy Favorable Ratings

INSIDE …

  • Secrets of radio CEOs to buy favorable analyst ratings.
  • What it took to get last year’s hot mess in radio revenue to earn an “A” rating – with a straight face.
  • So why are analysts now changing their tune about radio?
  • The importance of podcasting to bank analysts even if they lose money.

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Audacy’s Hiring Problem

iHeart Foreign Sale Still on the Table

Westwood Done

Cumulus Fires 9 in One Market

The Fan-to-Fan Music Revolution

Audacy’s Hiring Problem

INSIDE …

  • The surprising change in their desired job qualifications.
  • The number of job applicants for the hard to fill San Diego GSM position in almost two weeks – and you’ll never guess the revised salary offer.
  • Why iHeart sellers are afraid to jump ship to Audacy.
  • The updated Audacy sales.

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iHeart Foreign Sale Still on the Table

Westwood Done

Cumulus Fires 9 in One Market

The Fan-to-Fan Music Revolution

San Diego Audacy Exodus Resumes

iHeart Foreign Sale Still on the Table

INSIDE …

  • Their quiet end of year maneuver
  • The status of iHeart selling to a foreign entity
  • Why iHeart is sucker punching its most interested potential investor

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Westwood Done

Cumulus Fires 9 in One Market

The Fan-to-Fan Music Revolution

San Diego Audacy Exodus Resumes

Big Changes Coming to CHR

Westwood Done

INSIDE …

  • The dissolution of Westwood was predicted here a week ago – here’s the rest of the story. 
  • Why Cumulus owners are panicking.
  • They actually turned rescue money down to buy assets – here’s why.
  • How the dissolution will unfold ahead.
  • What about the stations division?

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Cumulus Fires 9 in One Market

The Fan-to-Fan Music Revolution

San Diego Audacy Exodus Resumes

Big Changes Coming to CHR

New Cumulus Market Manager Mandate

Cumulus Fires 9 in One Market

INSIDE …

  • How they wasted 9 jobs in one cluster and kept it all under the radar until now
  • The markets that are likely to be next
  • Why this spring is a potential make-it-or-break-it deadline for Cumulus.

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The Fan-to-Fan Music Revolution

San Diego Audacy Exodus Resumes

Big Changes Coming to CHR

New Cumulus Market Manager Mandate

Cumulus to Regionalize Business Managers

The Fan-to-Fan Music Revolution

INSIDE …

  • The age group buying the most new music.
  • Should radio be concerned about TikTok and Instagram in reaching younger demos.
  • Potential problems for the music business. 
  • The new role for music radio that works.
  • Keep an eye on “fandom”.

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San Diego Audacy Exodus Resumes

Big Changes Coming to CHR

New Cumulus Market Manager Mandate

Cumulus to Regionalize Business Managers

Podcasting is Having Radio Trouble

San Diego Audacy Exodus Resumes

INSIDE …

  • Latest departures added to the 28 who previously left.
  • Why even new hires won’t stay (the average time spent selling for Audacy).
  • Jeff Federman, Michael Valenzuela and yes – Karyn Cerulli.
  • On top of this, the potential loss of the Padres.
  • The industry ex-radio sellers go to find better jobs.

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Big Changes Coming to CHR

New Cumulus Market Manager Mandate

Cumulus to Regionalize Business Managers

Podcasting is Having Radio Trouble

Pay Cuts at Cumulus

Big Changes Coming to CHR

INSIDE …

  • Significant changes in audience composition
  • The major adjustment for CHR stations to slow audience erosion
  • The things that will guarantee a bump up in the ratings
  • Competing against streaming music playlists
  • Radio’s killer “app” against Spotify that radio is missing

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New Cumulus Market Manager Mandate

Cumulus to Regionalize Business Managers

Podcasting is Having Radio Trouble

Pay Cuts at Cumulus

Cumulus, Westwood One Cutbacks

New Cumulus Market Manager Mandate

INSIDE …

  • The new category forced on their budgets
  • Why managers are stewing.
  • Where the funds will come from.
  • $5 billion in music rights acquisitions in the past 12 months, projections for 2022.

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Cumulus to Regionalize Business Managers

Podcasting is Having Radio Trouble

Pay Cuts at Cumulus

Cumulus, Westwood One Cutbacks

Audacy Walking Back “Unethical” Chicago Allegations

Cumulus to Regionalize Business Managers

INSIDE …

  • The emergency downsizing plan soon to get underway.
  • Future Cumulus job consolidations this year.
  • Next: the downsizing of Westwood One.
  • The market manager surprise just ahead.

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Podcasting is Having Radio Trouble

Pay Cuts at Cumulus

Cumulus, Westwood One Cutbacks

Audacy Walking Back “Unethical” Chicago Allegations

iHeart Reserves Right to Fire Vaxed Workers

Podcasting Is Having Radio Trouble

INSIDE …

  • Big-spending Spotify’s startling move.
  • The audience for new individual podcasts.
  • The Time Spent Listening issue.
  • What will happen to podcasting.
  • The truth behind Spotify’s 3 million podcasts.

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Pay Cuts at Cumulus

Cumulus, Westwood One Cutbacks

Audacy Walking Back “Unethical” Chicago Allegations

iHeart Reserves Right to Fire Vaxed Workers

Audacy Loses Another Sports Rights Battle

Pay Cuts at Cumulus

INSIDE …

  • The plan to fund job insecurity.
  • GSM’s given a new responsibility.
  • One oversight that may blow the entire plan up.
  • So, what’s it going to be for Cumulus, Audacy and iHeart – first quarter pay cuts, RIFs or furloughs?

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Cumulus, Westwood One Cutbacks

Audacy Walking Back “Unethical” Chicago Allegations

iHeart Reserves Right to Fire Vaxed Workers

Audacy Loses Another Sports Rights Battle

Wells Fargo Abandons Audacy

Cumulus, Westwood One Cutbacks

INSIDE …

  • Positions to be eliminated first
  • Local market managers under pressure to cut jobs
  • How Cumulus firings usually take place
  • Even with all that – Cumulus attracts a new investor
  • Prognosis for Audacy and iHeart

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Audacy Walking Back “Unethical” Chicago Allegations

iHeart Reserves Right to Fire Vaxed Workers

Audacy Loses Another Sports Rights Battle

Wells Fargo Abandons Audacy

Audacy Has a Field Replacement in the Wings

Audacy Walking Back “Unethical” Chicago Allegations

INSIDE …

  • Making tampering with a signed contract go away.
  • Audacy damage control a week after allegations leaked.
  • BUT Audacy knew of the unethical behavior – the proof.
  • Chad Feldman, Rachel Williamson & Weezie Kramer.

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iHeart Reserves Right to Fire Vaxed Workers

Audacy Loses Another Sports Rights Battle

Wells Fargo Abandons Audacy

Audacy Has a Field Replacement in the Wings

Whistleblower Outs “Unethical” Audacy Chicago

iHeart Reserves Right to Fire Vaxed Workers

INSIDE …

  • Circumstances under which taking the vax may not be enough to preserve an iHeart job.
  • The threat comes from a third-party app!
  • Setting up a third year of pandemic firing.
  • The different vaccination routes taken by Cumulus and Audacy.

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Audacy Loses Another Sports Rights Battle

Wells Fargo Abandons Audacy

Audacy Has a Field Replacement in the Wings

Whistleblower Outs “Unethical” Audacy Chicago

First Quarter iHeart Cutbacks Likely to Be Deep

Audacy Loses Another Sports Rights Battle

INSIDE …

  • A 3-station competitor (two radio, one TV) outbid Audacy’s MLB rights.
  • Locked out of all major sports by apparent arrogance/over-confidence.
  • How “the little engine that could” caught David Field’s mighty sports machine flat-footed.
  • Audacy’s new nightmare: small, local competitors with nothing to lose.

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Wells Fargo Abandons Audacy

Audacy Has a Field Replacement in the Wings

Whistleblower Outs “Unethical” Audacy Chicago

First Quarter iHeart Cutbacks Likely to Be Deep

Wells Fargo Abandons Audacy

INSIDE …

  • Nobody dumps on Audacy – so why did Wells Fargo just do it?
  • How Wells downgrade impacts other groups
  • Audacy’s top 3 problems (in this order)
  • Sam Rogers, Bob Philips, Susan Larkin & Joel Hollander

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Audacy Has a Field Replacement in the Wings

Whistleblower Outs “Unethical” Audacy Chicago

First Quarter iHeart Cutbacks Likely to Be Deep

Whistleblower Outs “Unethical” Audacy Chicago

INSIDE …

  • A 16-year vet details what they call unethical and gross mismanagement.
  • Ways Audacy blocked this person from leaving for a competitor and then welched on the deal.
  • Two of Audacy Chicago’s alleged worse offenders identified by name.
  • The questionable practice of how they raise sales quotas.

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First Quarter iHeart Cutbacks Likely to be Deep

INSIDE …

  • Out of places to eliminate iHeart employees there’s only one that has been “hands off” for years -- that looks like it’s about to change in 2022.
  • Their next “Excellence Centers” idea to further consolidate programming. 
  • The ad economy has still not recovered but the anticipated iHeart RIFs are being driven for a very different reason.
  • iHeart/Clear Channel has been laying off for two decades, here’s their most predictable pattern.
  • iHeart has been averaging $50 million in cutbacks a year – here’s next year’s number.

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The FM Solution for AM Stations

AM is in danger of dying for no good reason

  • My students can barely name an FM station, frequency or type of programming on the air and have no idea what AM radio is – and I’m talking about my USC students years ago as well as NYU music business students today indicating a death watch for AM among young people.
  • AM operators have been failed by the FCC and most importantly their lobby group the NAB which has talked a good game but left thousands of AM stations vulnerable and on life support.
  • If they can’t attract audiences younger than 60, AM will be all but gone in a few more years but there is an answer – provide incentives for consolidators who already have too many stations to run to do long-term leases to AM operators.

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Yesterday:  NPR and EMF Putting on a Clinic for Consolidators

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NPR and EMF Putting on a Clinic for Consolidators

Both NPR and EMF are funded by fandoms

  • NPR affiliates rely on begathons to raise money and NPR is supported by government funding.
  • Educational Media Foundation (EMF), a non-profit religious broadcaster is also reliant on its massive fundraising that allows the non-commercial operator to buy stations in just about every meaningful market – and prices they name.
  • While commercial radio groups flounder, lose revenue and cut costs, NPR and EMF run on a tight budget but they do things consolidators will not do – here’s how they are beating consolidators in audience, expense management and even podcasting – all things commercial broadcasters could readily copy.

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Audacy Salary Changes Starting in January

Top Execs Rewarded for Missing Revenue

  • David Field and his COO Susan Larkin are in for pay raises after a dismal year in which Audacy repeatedly missed its revenue projections and presided over the further loss of audience.
  • Rewarding C-suite officials for failure is not new to companies propped up with private equity money but is curious in the case of Audacy as they teeter on the brink of bankruptcy.
  • BUT, Field and Larkin are not the only ones who will see a change in their paychecks as Audacy station personnel are also in for significant changes ahead.

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NextRadio Version 2

  • A new venture to attract mobile listeners.
  • Another subscription service.
  • The income radio stations can earn from it.
  • The question of whether iHeart and Audacy sign on

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iHeart’s All-Podcast Radio Station

  • A two-year ratings analysis of the first all-podcast station
  • An important takeaway about listeners to podcasting on radio
  • Can radio make a sustainable format out of podcasting?
  • The best way radio can integrate podcasts with a high level of success

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Moneymaking NFTs for Radio

  • The crazy money consumers are spending on NFTs
  • A path to profit for recording artists (and potentially for radio stations)
  • Types of digital products stations could sell to an expanding market
  • See what the Stones, Grimes and artist Beeple are earning from NFTs

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iHeart Faces Unionization

  • Nightmare scenario: podcasters join a union against iHeart
  • Results of the other podcast union movements so far
  • The union movement moving to radio stations
  • Long-overdue benefits iHeart may be forced to eat as a preemptive move

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Rushing to Replace AM Talk Radio

  • The groups that are ready to deemphasize conservative talk
  • Damage from Limbaugh’s death and Bongino’s mouth
  • Format replacement options on the table for AM talk radio
  • Even more radical solutions presently discussed privately

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Audio Cooling Off, Some Music Genres Slipping

  • The emerging post-lockdown listening changes that leave radio stations out of sync with their audience.
  • New study on the effect of working remotely on radio.
  • Changes in music genres (you’ll never guess the genre that skyrocketed during the lockdown, it’s out of nowhere). If you can name it, you’re really tuned in.
  • The new rules for stay-at-home listener engagement. 

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Audacy’s January Blitz

  • Year-end cost-cutting
  • The next phase of regionalized formats
  • An Audacy format that will be virtually eviscerated to save money
  • Auditors to decide Audacy’s future path

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Your Next DJ May Be a Robot

  • Bad news for voice actors and voice trackers
  • It’s being done right now on a radio station, more planned
  • The most likely major radio group to go first
  • Big implications for local ad campaigns

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Streaming Wants to Be Radio Now

Digital one-to-one media has disrupted the music business and radio by transferring their products and services to online access but now there are real signs that these disruptors want to be more like radio than simply large libraries of music – they see an opportunity to do what radio has stopped doing.

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Newstips

iHeart’s Post-Malone Strategy

INSIDE …

Where this leaves iHeart

  • How Bob Pittman smoked John Malone’s Liberty Media’s attempt to steal debt-heavy iHeart. 
  • What’s changing in the next 4 months now that the threat is gone. 
  • Their new owners are Franklin Advisors – the important way they differ from previous owners Lee & Bain. 
  • Radio is in runoff mode – where iHeart still sees money to be made.
  • And one more time, Liberty is out of the picture, right?

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Newstips

Yesterday’s Audacy Stock Crash

INSIDE …

  • It has devolved to two buck chuck even with the Field family buying shares as fast as they can.
  • The real trouble bubbling under Audacy’s surprise demise.
  • Audacy is screaming out what is about to happen next.
  • The major shakeups that were previously off the table.
  • Why investors think 2nd bankruptcy-bound Cumulus ($12) and $6 billion indebted iHeart ($22) are better than $2 Audacy.

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Newstips

Defending Against All-Holiday Music Stations

INSIDE …

  • This move will catch your competitor flat-footed.
  • If you’re up against a holiday music station or stations, consider these options.
  • When to flip, how long to stay.
  • What to rename holiday music stations.

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Newstips

The Danger of Radio Selling Facebook Ads

INSIDE …

  • Radio will sell anything right now, even sneakers from the back of an SUV.
  • Facebook’s problems are getting ready to blow up in radio’s face.
  • Missed opportunities and new ways to put digital in its place.
  • The one thing that radio has right now that makes it “case closed” against digital.

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Beware of the Advertising Transition to Impressions

INSIDE …

  • Agencies and advertisers are pushing hard for radio to change the way it sells.
  • How the advertiser-promoted move toward impressions will backfire.
  • The secret to getting ahead of this mistake.
  • Some radio groups are considering a better alternative than impression selling.

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Newstips

Audacy Picking off Top Talent & Sellers

INSIDE …

  • Their war on talent continues even as some of their stations are diving in the ratings.
  • Sales tactics that are demotivating account execs.
  • Heartbreaking exits from longtime employees.

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Newstips

Audacy’s Year End Blowout

  • David Field recently spent $40 million on a side hustle to essentially return no new revenue to Audacy’s ailing bottom line – here’s a cheaper and better alternative from execs who work for him who can’t speak up.
  • Missed opportunities and changes ahead – what we’re hearing.
  • The continuing saga of their CRO revolving door and the Bob Philips demotion.
  • Did you hear what they’re going to do with Sam Rogers? 
  • Advice to David from some ex-employees on how to stop leaving revenue on the table.

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Newstips

Audacy Swimming in More Debt

Audacy Misses on Revenue, Debt Soars 

  • Wall Street knows this in spite of a third quarter effort to sanitize disappointing financial results – their stock is now less than 25 cents away from being worth $2 – and that’s with the mighty former CBS assets included.
  • Their financial crisis is being covered up by misleading the public comparing 3rd quarter revenue to the weakest comp in the radio industry’s history – the same three months of pandemic last year because when you dig into where they really are you can see the turmoil that is ahead for Audacy.
  • They’ve made some bonehead moves to pump up the real numbers and it’s possible to compute the actual number Audacy has to earn to break even – that’s a number worth studying.

Read the full article here

iHeart Cherry-picking Latest Revenue Results

  • iHeart had a better quarter than Audacy and Cumulus, so why are they doctoring the numbers?
  • How iHeart is misleading the public by burying the truth in their SEC filings.
  • iHeart’s highly touted podcasting grew 184% -- now here’s what they didn’t tell you about that number.
  • Subtract digital, podcasting, live events and other businesses and here’s iHeart’s radio bottom line.

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In Search of Younger Demos

  • How radio had it right 5-10 years (if they only stuck with it).
  • The new younger demo model you won’t see Nielsen pitching.
  • Weaning your station off Nielsen’s (TV news did it).
  • Beware of impressions – here’s why.

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Astroworld Concert Tragedy Impacts Radio

INSIDE …

  • iHeart and Audacy have reason to be concerned after this weekend’s 8 deaths and hundreds of injuries at Travis Scott’s Houston Astroworld fest.
  • Radio had its own wrongful death lawsuits prior.
  • The Astroworld lawsuits have already begun.
  • The future of live events in general and for radio operators.

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Cumulus Revenue Miss Triggers Cutback Concerns

INSIDE … 

  • The chance of further cost reductions (we have their decision in writing).
  • The big changes coming to the way Cumulus does local radio.
  • The road ahead for market managers, programmers, sellers and commissions.

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CHR Red Flags

INSIDE …

  • A major CHR group is now getting their clocks cleaned.
  • Why CHR formats are sinking (only one #1 left in the top ten markets).
  • Their new competition along with some self-inflicted wounds.
  • What’s next to slow the rapid decline.

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Bongino’s Insurrection Against Cumulus

INSIDE …

  • Something’s gotta give – Dan Bongino is pushing Cumulus to fire him.
  • Suddenly he’s the (76ers) Ben Simmons of radio – their shared playbook.
  • Why Bongino is risking losing 300+ radio affiliates for a mini-insurrection against Mary Berner.
  • The real reason for his recent work stoppage on radio while continuing his podcast.
  • How it will end – who will blink first Berner or Bongino and what it means.

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Radio’s New Role in Hitmaking

INSIDE …

A new, important purpose for radio in the age of streaming music services.

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Another Group Reportedly Sharing Talent Fees

  • Losing money is one thing – the bigger reason talent has had enough.
  • The way radio groups get away with it without advertisers finding out and demanding a lower endorsement rate.
  • Is this limited to a few groups or is fee sharing going mainstream anytime soon.
  • And, is it even legal?

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Audacy’s Dumbest Format Ever

  • DON’T make the mistake Audacy just made.
  • A simple formula for building a cash positive radio station
  • 5 steps to a stronger station before the new year

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iHeart’s “New Work Environment” & Pay Raises

Inside:  A recent revamp of work rules, remote working and benefits failed to address compensation. 

  • Who will be in line for a long-overdue pay raise? 
  • What “we will never return to the office as we knew it” really means for iHeart employees.
  • A warning about iHeart’s just announced “New Work Environment”. 
  • The new 9-point Culture Code and how iHeart has already violated every one of them. 

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Berner’s Bongino Hesitancy, WideOrbit Nothingburger

INSIDE …

Dan Bongino threatens Mary Berner

  • What’s keeping Berner from firing Bongino.
  • How Bongino’s it’s either end vaccine mandates or I quit ultimatum will play out.

Audacy’s WideOrbit Nothingburger

  • How Audacy’s purchase of WideOrbit effects other radio groups trusting their confidential metrics to WideOrbit.

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75% Digital at Townsquare

INSIDE …

iHeart, Audacy and Cumulus may have to make big changes

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Storage Wars Selling at Cumulus

An unorthodox fourth quarter fix to bolster sales.

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“Dave FM” Doesn’t Know “Jack”

A new format to compete against designed by and named for David Field.

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3rd Quarter Radio Revenue Leaked

  • Preview revenue numbers for the all-important third-quarter ahead of radio CEO spin.
  • A slight of hand to look for when radio groups announce their doctored and misleading third quarter revenue.
  • The 3rd Q local and national revenue trends in advance.
  • The clever decoys iHeart, Audacy and Cumulus will use to divert attention from declining businesses.

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The Pandemic Is Backfiring on Cumulus

INSIDE …

  • The creepiest return to face-to-face work perhaps ever with this ill-conceived management brain fart.
  • Cumulus anti-vaxxers are being fired yet some people are getting away with it.
  • Don’t look now but Spotify, a leading podcast distributor of misinformation, is putting on a management clinic for Mary Berner and weak radio CEOs.
  • Someone has actually figured out how to make money from podcasts – not Cumulus – it has to do with self-serve ads for hosts.

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Liberty Moves on from an iHeart Merger

  • What went down
  • iHeart’s change of heart
  • Insider trading of Bob Pittman
  • What’s next

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Programming Bungle at Audacy

INSIDE …

  • This is what Audacy has been reduced to as they get their clocks cleaned again.
  • How Audacy became Beasley’s bitch.
  • Documented – David Field’s personal decisions coming back to haunt Audacy. 
  • The one decision Field could have made (but didn’t) that would have guaranteed the success of the CBS merger that they botched and are paying for now.

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This Talk Show is Worth $60 million

INSIDE …

  • This new talk superstar attracts 100% women, an advertiser’s dream come true.
  • Why radio is getting it all wrong betting on right wing talk instead of the “right talk”.
  • The model for radio stations looking to break the old mold and attract younger listeners.
  • Mel Karmazin would hire someone like her (okay, not for $60 million, but he’d do it in a minute).

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Impressions Are Radio’s New Quarter Hour

INSIDE …

  • Wait for it -- Nielsen’s answer to impression selling. 
  • Do you know what “audio activation” is? – neither do most radio sellers. 
  • The best way to sell more national business is to be like TV – here’s their new-found secret.
  • How national advertisers view radio according to private surveys (advertisers like Allstate, P&G, Home Depot, Lowes, McDonald’s and others and not just their agencies).
  • On-air programming will change when impression selling kicks in.

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Audacy Talent: Stop the Steal Over Fees

INSIDE …

  • Did someone bully David Field in the schoolyard? Entercom/Audacy’s years-long obsession with cutting talent fees. 
  • The ugly terms of their latest move to force talent to work for less. 
  • The unintended consequences for advertisers (many who don’t even know that they may be funding Audacy’s Big Steal). 
  • Their salespeople are reportedly already leaving in droves – what about talent that advertisers prefer for endorsement ads?

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The Price of a Radio Station Is Now as Low as $44,000

INSIDE …

  • Imagine selling stations in the fastest growing city in a mega-populous state – what are they thinking?
  • No buyers, no problem – how group owners will use the new $44,000 low to unload more stations.
  • Giving it away is the new selling – the strategy debt-laden radio companies have concocted to get around the absence of interested buyers. 
  • The thing that’s suddenly more attractive than selling stations group owners no longer want.

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iHeart Increases Benefits as Audacy Cuts Them

INSIDE …

  • Audacy failed to direct deposit paychecks on time Friday scaring and inconveniencing employees.
  • The same day iHeart announced a long list of fabulous new benefits.
  • Audacy on-air talent becoming the resistance after another reduction of their fees.
  • iHeart is worried about losing employees to the “Great Radio Resignation” – here’s how Audacy is responding to fed up employees.

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Unrest at Audacy Over Talent Fees

INSIDE …

  • Talk about cheap – Audacy’s reported new talent fee arrangement is one for the books.
  • Sources describe a “near rebellion” in some markets – what’s eating them.
  • Audacy’s likely next moves after cutting talent fees.
  • Fear surrounding a potential revision of the sales compensation plan.

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Radio Left with Only 25% of Ad Dollars by 2025

INSIDE …

  • And the winner is – yes, one radio group saw this sea change coming. 
  • For everyone else, sample these cutbacks that are even more draconian than previously.
  • What the radio wind down will look like between now and 2025. 
  • There is a model to survive – you’re not going to like it – but here’s what the radio groups with the most to lose are thinking about implementing.

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Growing Disdain for Radio at Client Level

INSIDE …

  • The worst offenders called out by agencies, buyers and planners privately. 
  • How to fix the needless loss of national ad revenue – three steps right out of the client, buyer and planners mouths. 
  • Radio has it all wrong – how TV is the gold standard among national clients. 
  • How clients (not agencies) laugh at radio’s give me the whole buy and I will drop prices to the floor mentality – what’s better than a low price?

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18-24’s Share What It Would Take to Get Them Listening

INSIDE …

  • I hypothetically offered every student in my NYU Music Business class a free radio station in their hometown – 75% said they would give it back, no thanks but 25% came up with some genius ideas.
  • The length, makeup and content of shows for younger audiences.
  • Different type music stations and spoken word ideas that no one in radio has ever tried.
  • Their eye-opening list of do’s and don’ts.

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Radio Needs to Stop Relying on Music

  • How did the record labels go from the brink of ruin at the turn of the century to record revenue ($1.58 billion ahead of last year’s first-half).
  • How can radio get some of that -- It has to do with disrupting its relationship with the music business.
  • The podcasting model sucks as a revenue generator and that’s a good thing for radio – yet there is a format that everyone is missing that would be explosive.
  • If the labels could blow up vinyl and CDs, there is one bold move that radio can do to thrive.

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Apollo’s New Plans for Cox Radio

INSIDE …

  • At least 13 people fired cross-platform yesterday alone – how bad things will get.
  • Managing so short-staffed even in their largest market – the new model?
  • Why Audacy’s David Field may already be dancing on Cox Media’s grave
  • What happened to that rumored Cox Radio sale – is it coming?

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iHeart’s Sucker Punch on Ownership Caps

INSIDE …

  • Despite their public rhetoric, you won’t believe what iHeart wants new ownership rules to be.
  • And the hypocritical wishes of “digital first” Townsquare about rolling back limits.
  • One of these two outcomes is likely to happen. 
  • What about investment banks and hedge funds – their position on funding another round of acquisitions.

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Allegations of the NAB Gouging Show Exhibitors

INSIDE …

  • The ugly NAB rift with some exhibitors, their major source of revenue.
  • Angry exhibitors (quoted here) kicking around a class action suit.
  • Two take-it-or-leave-it options -- We got ahold of their contract – would you sign this thing?
  • The NAB’s current financial health.

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What Younger Listeners Want

INSIDE …

  • The first significant change in attitude by young people about radio. 
  • The four turnoffs that drive younger demos away and how to address them. 
  • How many youths can relate to 80-year-old Bernie Sanders more than the radio dj trying to be cool – why?
  • Four key things that radio stations no longer do that are killing it.

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Mixed Messages from Audacy to Managers

  • The Audacy market manager really pissing off staff by using COVID as a sales motivator.
  • The sneaky way some employees are getting around COVID inspired back to office mandates – yes, they’re really doing it.
  • Rebelling against the removal of popular remote working allowances.
  • How some Audacy execs have different vaccination rules than regular employees.

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iHeart Playing the Long Game on Selling Out

INSIDE …

  • Why did iHeart ask for regulatory approval to sell 100% of their company to a foreign investor who could then control it?
  • And why did they fight UK-based Global Media when they tried to buy 49.9% of iHeart when it became legal to do so.
  • Is it an accident or strategy that each major investor owns 10% or less of iHeart with the current owners owning the rest.
  • What about John Malone’s Liberty Media (they own 10%) on record as saying they’d like to buy controlling interest in iHeart or Apple reportedly after 25%.
  • Here’s the deal iHeart is really angling to do.

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Audacy & Cumulus Joining Forces

INSIDE …

  • What you’re going to get when two financially ailing radio groups are planning to work together. Crazier than you know. 
  • How iHeart is losing the most money yet playing their competitors for suckers – that’s you Audacy and Cumulus.
  • The one thing that Audacy and Cumulus could do (together or alone) that would save the day – and here’s their boneheaded plan instead. 
  • Dunkin’ is opening a store in Boston with no employees – now, I just got Mary Berner and David Field to click for the details.

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Dropping Like Flies at Audacy Midwest

INSIDE …

  • How could this be? Hardly anyone in radio is quitting except at Audacy.
  • The new issues that have contributed to yet another mass exodus of employees.
  • The toll in the last 30 days alone.
  • The next hotspot market for employee churn at Audacy.

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Rough Times Ahead for Stations Using Ratings

INSIDE …

  • Nielsen is on the ropes after delisting non-subscribers from all-important ad agency visibility. 
  • The latest trick that Nielsen is reportedly using against subscribers who switch to Eastlan. 
  • The 2 new options that financially-pressed radio owners will soon have as alternatives to high priced ratings.
  • Disruption alert: what we’re watching unfold in markets 1 through 50.

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Cumulus Escalates Management by Fear

INSIDE …

  • Internal Cumulus memo shaming high performance market managers with non-compliance. 
  • The “list” of bad girls and boys.
  • Try as many times as you want, but you will not believe who is running this shame game (hint: not Walker, not Milner, not Berner) – give up? 
  • Fear of employees: How Cumulus reportedly weaponizes employees who trash a market manager in one of her many Survey Monkeys.

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Race to the Bottom on Ad Rates

INSIDE …

  • It just happened again scorched earth selling which is why I’m writing about it – a predator group screws competitors out of a huge buy, drives unit rates down by pulling this trick. 
  • The one thing that is forcing consolidated radio groups to go balls on against competitors many of which have a better ad story and they still lose the buy. 
  • There will soon be no need for local ad revenue – what makes big radio groups really believe this stuff.
  • Oh, and the major markets are all that will matter – here’s the proof.

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DIY Streaming DJs Threaten Radio

INSIDE …

  • Radio wants to be audio but now big tech wants to be radio – their plans are breathtaking.
  • How broadcast radio is vulnerable to the big money of Amazon, Spotify – the attack they are mounting. 
  • The industry’s fatal move away from “radio” letting big tech competitors in. 
  • “The opportunity for disruption in live radio is paramount” – which consumer (not radio) publication said that and why.

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Owners Rethinking the Viability of Conservative Talk

INSIDE …

  • How radio’s obsession with podcaster Joe Rogan may be the end of right wing talk radio.
  • The first major group likely to blink. 
  • Audacy is sucking wind on revenue but making a killing off the coronavirus – I’ll explain it here. 
  • Mary Berner’s Harvard Business School case study on how to ace COVID – ok, I’m kidding but you can still learn from her latest blunder.

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Cox Employees Leaving for Audacy

INSIDE …

  • Cox Radio people are beating it out of Dodge for a company that is experiencing the biggest employee exodus in radio.
  • Is it the rumors about Apollo and Cox or something else?
  • HOUSTON – keep a close eye on it for answers. 
  • SUSAN LARKIN – What she is thinking by recruiting Cox employees even with what she knows.

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iHeart Accelerates Merging Clusters

INSIDE …

  • Here’s what these new superclusters will look like.
  • The thing that is increasingly important to debt-burdened consolidators like iHeart, Audacy and Cumulus – dare I say it is the new “R&R” but it no longer stands for radio and records.
  • Other cutbacks now on the drawing board that could start showing up late this year, early next.

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Foreign Owners Move on American Radio

INSIDE …

  • What’s the delay -- the FCC has totally relaxed ownership limits.
  • The radio groups most likely to see an increase in foreign ownership.
  • Let’s just put this out there – the big surprise of what foreign controlling ownership would do to U.S. radio programming, sales and marketing.
  • The handful of foreign owners that could buy controlling interest and the list not likely to invest in American radio.

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Audacy Panics into Brokered All-News

INSIDE …

  • What could be so bad that Audacy began selling programming blocks instead of commercials.
  • Why news radio’s days at Audacy are numbered.
  • Oh no, Audacy at it again demoting top sellers specializing in news radio this time -- the botched handling of a good guy.
  • How all this sales churn is even possible as the company continually misses its revenue targets.

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Right Wing Talk Radio Killing Listeners

INSIDE …

  • 3 right wing talk show hosts who have disavowed vaccinations have now died while radio CEOs like Mary Berner and Bob Pittman refuse to stop the disinformation. 
  • The return of comparative FCC hearings as a way of getting consolidated radio to protect the wellbeing of their listeners, how it would work. 
  • The tone-deaf response of a Cumulus market manager upon the death of one of their talkers.

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More Salespeople Quitting Audacy

INSIDE …

  • Another week, another sales exodus at Audacy – more defections to competitors and abandoning the market. 
  • The latest reasons why Audacy employees are walking out.
  • What regionals and corporate execs are doing to stop the continuing sales exodus.
  • Accusations of favoritism toward certain types of sales people.

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Cutting Pay of Remote Radio Employees

INSIDE …

  • WHY? Wait until you see the plans Big Tech companies have to punish remote workers – the perfect radio template.
  • TIMING – The pandemic heating up again changes everything or does it?
  • WHICH GROUPS GO FIRST – There are a few suspects but one could be more motivated than the others.
  • THE NEW MEANING OF DRIVE TIME – How where you are located could dock your pay for working remotely.

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Townsquare – B.S. or Buyer

INSIDE …

  • ALL TALK? – The hottest radio company with 52% digital revenue is publicly teasing buying more stations – what this is all about.
  • UPGRADING TO MAJOR MARKETS – The answer to those rumors about buying a larger market group secretly reported to be on the block.
  • DIGITAL DOUBLETALK? – Why buy more stations when radio revenue will account for only a quarter of their total revenue in a few more years.
  • HIRING? – It’s complicated and unorthodox for a radio company.

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Hostile Takeover Fears at Cumulus

INSIDE …

  • A major player who has been particularly skilled at targeting companies in financial turmoil and buying their debt, often at pennies on the dollar is in hot pursuit of Cumulus.
  • DISTRESSED FOR SUCCESS – This power broker has done billion dollar plus deals in TV -- what’s so attractive about a failing radio company whose stock could easily be worthless.
  • CUMULUS POISON PILL – How their board could repel a hostile takeover or facilitate one.
  • PLAN B – The many ways this acquirer could make life hell for Cumulus.

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Audacy Throws “Exodus” Manager Under the Bus

INSIDE …

  • A high profile Audacy market manager who drove 19 sellers to quit gets unceremoniously fired under the radar and replaced with a cheaper solution.
  • THE REGIONAL GETS AWAY SCOT-FREE – How the guy who appointed her saved his neck while his mistake takes some time “to explore other opportunities”.
  • CALL I-800-CALLCBS – Suddenly the safest job these days is not one held by legacy Entercom/Audacy employees.
  • THE DONALD TRUMP OF RADIO – Where David Field’s “I Alone Can Fix It” mentality is headed next and concerns about one-way loyalty.

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Audacy Now Eating Its Own

INSIDE …

  • Audacy seems to be turning on its own legacy employees to defer to the CBS employees the company once dissed. 
  • JEFF SOTTOLANO – He was reportedly not Audacy’s first choice to replace Pat Paxton – here’s who reportedly turned it down.
  • KOOL-AID FACTOR – Is Sottolano a yes man or his own man, news, sports and talk stations need to know.
  • THE REAL REASON – Why now? Friday afternoon, after 21 years, 100% loyalty Paxton suddenly sent packing.

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Audacy’s Hiring Problem

INSIDE …

  • The under the radar high-profile market manager who reportedly doesn’t live in the market.
  • Issues recruiting A-list management talent.
  • The shocking issue at Audacy when trying to hire talent, market managers or brand managers.
  • Their biggest impediment for hiring the best people – and what they are beginning to do to get around it.

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Distancing from Radio as a Turnaround Strategy

INSIDE …

  • The reasons groups are shunning radio and are convinced it will pay off in the end.
  • The new “safe” word for “radio”.
  • Insights on how listeners feel about radio.
  • Changing opinions of radio by young, prime demos and older listeners.

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The Cumulus NCAA Hail Mary

INSIDE …

  • Why this smells like a Nielsen-type lawsuit settlement.
  • Managing by lawsuit – other potential examples of sue first, deal later.
  • The next Cumulus lawsuit to end in a business deal.
  • Why Cumulus refuses to sell Westwood One when other assets have been sacrificed.

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The Audacy Bankruptcy

INSIDE …

  • The latest financials -- when Audacy will have to channel iHeart and Cumulus and enter bankruptcy.
  • Remember that $75 million loan they did a few weeks back where they put up their future collections as collateral? Now we know why.
  • EBITDA is down, revenue is down, their stock is down and that’s still not the thing that’s going to force them into bankruptcy.
  • What stays and what goes between now and then.

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Cumulus Hiding Cash Crisis

INSIDE …

  • We now know the number Cumulus must generate to stay afloat – they aren’t saying publicly but you decide their chances of hitting it between now and the end of the year.
  • What they left out of their 2nd quarter conference call last week – how fast they could burn through the $124 million they have left.
  • The amount of needless cash burn they ran up by initiating lawsuits most people may not even have heard about.
  • What is Chapter 22 bankruptcy.

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Audacy Hurting from Its Obsession with Real Estate

INSIDE …

  • Today Audacy will announce their amazing turnaround compared to the same anemic quarter last year during the pandemic – David Field won’t be talking about his real estate excesses.
  • Here’s a clue to why he is so quick cutting people and not cutting out office, studio and mortgage payments.
  • The office and studio prognosis for saving rent.
  • Little known buildings Audacy owns searching for a reason to be used.
  • As I said yesterday, Audacy is reportedly planning to merge markets but look at the depth with which the company has tied its own hands from realizing maximum savings.

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Can Groups Make Radio Work Without Radio

INSIDE …

  • Another radio group is running away from the word radio with nothing else planned to replace it.
  • Why Townsquare is getting away with blatantly relegating radio to second place – so what’s stopping their competitors?
  • The anti-radio movement is being led by the largest radio groups – here’s why they are doing it.
  • Townsquare unabashedly puts digital first – what Audacy, iHeart and Cumeless have in mind with no significant digital replacement business.

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Audacy’s Market Manager Smackdown

INSIDE …

  • The Audacy markets likely to have a combined and merged market manager.
  • Only a few “teacher’s pets” are immune – no one else is safe from Audacy market mergers.
  • Weezie Kramer stood up to David Field when he came up with bad ideas … Susan Larkin?
  • And the pressing question – what next after-market managers have been pared down?

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The Cumulus Platform Ad Giveaway

INSIDE …

  • The dangers of an easy money ad partnership with WynnBET.
  • Off-rate deals like WynnBET and Uber – study them because you’ll be competing against more multi-platform partnerships.
  • “Garbage programming” -- that’s what one source called the new content that is unlistenable to mass audiences.
  • The three different demographics remnant ad buyers are trying to blitz.

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Audacy Managers Pressured to Make Up Lost Revenue

INSIDE …

  • The email from regional controller Steve Grosso that has an already perturbed sales staff threatening revolt.
  • Cut commissions, a sales system that AEs are convinced doesn’t work – and now this.
  • The changes coming to account collections.
  • What market managers fear will happen by the end of this year even if they deliver.

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Radio Missing Out on Vaccine Audience Bonanza

INSIDE …

  • Bad PR: The right-wing radio talker who influenced his listeners not to take the vaccine until he got sick and changed his story.
  • Vaccinations as a huge radio promotion – some ideas to hitchhike on.
  • A once-in-a-lifetime promotional plan to prove radio’s 92% reach and local relevance when it is being doubted.
  • How selling vaccines can be used to sell local advertisers.

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Vanishing Drive-Time Threatens Radio

INSIDE …

  • The two threats bigger than shrinking drive time.
  • How commuters figure they are getting a raise by not listening in drive time – here’s their math.
  • One mistake can be fixed immediately to gain more TSL.
  • Now that drive time is eroding what radio plans to do about it.

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Private Equity Experiencing Radio Hesitancy

INSIDE …

  • iHeart’s Bob Pitman was the second big radio CEO to get the message from private equity – but who was the first, and why do they know best.
  • Why lenders are now pushing owners away from legacy radio.
  • Here are the groups that will be among the first to take private equity’s bait and distance themselves from radio even though it continues to generate most of their revenue.
  • The reason digital is no longer a slam-dunk for radio hesitancy.

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Audacy Management Turmoil Eroding Ratings

INSIDE …

  • What’s killing the ratings for many crucial Audacy stations.
  • Case studies of top-rated, big billing CBS stations being gutted and left as add-ons to local ad buys.
  • Two places where Audacy is getting it very right in spite of themselves.
  • Pat Paxton and Susan Larkin’s plans for dealing with ratings declines.

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iHeart’s Amazon Deal Is Nonsensical

INSIDE …

  • The real end game for iHeart’s new venture with Amazon’s Alexa – and it’s not listener engagement.
  • How iHeart plans to connect unwitting listeners with stations that do not have live people working on-air.
  • What young people really think of Alexa and voice activated listening may surprise you and certainly Bob Pittman.
  • True or false: “This is a direct line to allow our audience to talk back, to share their thoughts and help influence what you hear on the radio” – okay, then, the four questions listeners really want to ask iHeart.
  • How this “groundbreaking” move is all about iHeart’s competitors.

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Audacy Concerned About Revenue Shortfall

INSIDE …

  • The make it or break it revenue issue that is killing Audacy right now.
  • Two warning signals that Audacy continues to ignore – one more than the other.
  • Why the sales revolt in several major markets is the tip of the iceberg.
  • If you had to name one person not named Field or Larkin who might be leading Audacy in the wrong direction, many employees would choose this person.
  • The likely replacement for Bob Philips as Chief Revenue Officer.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Radio Selling Almost as Much Video As TV Does

INSIDE …

  • If you want to sell video, give it to a radio sales rep to do – here’s the research.
  • Video is a huge market that someone in radio is going to figure out and cash in on – in fact, we’ll tell you who it will be.
  • And for all you lovers of programmatic buying, wait until you see the actual research on radio vs. programmatic.
  • New evidence points to radio’s future as not being radio, not being audio and not being video – then what is it?

Read the full article here

Free samples of our work here.

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Radio is in Perpetual Decline – How Does it End

INSIDE …

  • The missing ingredient that could change everything overnight – but will the major owners go for it.
  • Not just the end of live and local but radio stations that will be run on an iPhone – yes, an iPhone.
  • There are examples of radio groups that could be around for the long haul – here’s the best one.
  • Radio and the mobile phone – where does it stand?
  • A startling future not even imaginable a few years ago – FM, AM, digital, local, new businesses.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

iHeart to Copy Townsquare’s Digital First Strategy

INSIDE …

  • Deemphasizing radio is what has been driving iHeart stock – why Wall Street is excited.
  • How one major bank moved the market when it backed iHeart’s new non-radio strategy.
  • iHeart’s digital plan versus Townsquare’s Digital First which derives 52% of all its revenue from non-radio digital products.
  • The list of radio groups that are looking into digital first as a replacement for legacy radio and a potential new company name for iHeartMedia.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Ominous Sign: Audacy Running Low on Cash

INSIDE …

  • After what they did last week, everyone including Wall Street now knows the depths of Audacy’s money problems
  • Hard put for cash – Audacy went searching for money to bolster their operational funds from a faraway source that you’ve likely never heard of.
  • Just how bad things are and the timing effect that they will have on already severe job cutbacks can now be predicted – here’s how.
  • For all the talking about how important audio and podcasting is to Audacy – here’s the remarkable story they reportedly sold lenders.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

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Scroll through a complete list of previous stories here

Audacy’s Next Big Bungle

INSIDE …

  • The hidden danger directed at managers and talent in Audacy markets.
  • No format is safe from what Audacy plans next after regionalizing 3 major formats – in fact, one of them will surprise you.
  • Yesterday Audacy publicly promised not to fire CHR morning show talent – how they are most likely going to handle morning shows.
  • And the question everyone wants answered -- where is Pat Paxton?

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

What Investors Know (and Aren’t Saying) About Audacy

KEY TAKEAWAYS …

  • Why investors are bailing out of owning shares in radio’s second largest radio group.
  • What investors see as a bad sign for Audacy’s future.
  • Why cutting costs isn’t helping to increase share price.
  • Is the company’s name change a solution or a problem?

Read the full article here

Free samples of our work here.

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Scroll through a complete list of previous stories here

Tower Deal Comes Back to Bite Cumulus

INSIDE …

  • The better tower deal that got away.
  • What’s left to sell to raise needed money to pay down debt.
  • Why they won’t sell the underperforming Westwood One.
  • One thing that would get a buyer as soon as TODAY.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Management Meltdown at Audacy Corporate

INSIDE …

  • How regional VPs are feeling the heat.
  • What about COO Susan Larkin – her role in the recent exodus of key employees.
  • Their plan to hire minorities for less as a “woke” cost saving ploy.
  • The actual reason some potential hires are turning down Audacy sales positions.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Radio’s Best & Worst Pandemic Recoveries

INSIDE …

  • The groups CEOs think will report the best pandemic recovery (and the worst) for the just completed second quarter.
  • The list of radio groups that have to cut costs and staffs to make up for losses.
  • The 3 safest places to work because their CEOs returned their groups profitability – at least for now.
  • The report card on revenue generation from podcasting, digital and a projection on selling cartop ads and radio together – which ones lived up to their hype.

Read the full article here

Free samples of our work here.

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Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Making Sense of Walker and Milner’s Cumulus Promotions

INSIDE …

  • Cumulus just blinked -- a page out of the Townsquare playbook?
  • Milner & Walker unleashed -- the unexpected consequences for the market managers they oversee.
  • Why is the board of directors backing this move – Cumulus doesn’t do fancy titles and promotions.
  • “Why don’t I just make presidents out of these two who are never leaving even if I demote them” Mary Berner did not say – so what’s the real motivation to promote them?

Read the full article here

Free samples of our work here.

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Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Tightened Digital Tracking Rules Benefit Radio

INSIDE …

  • Eyepopping results of whether consumers are actually opting out of being tracked on digital devices.
  • In the last 30 days advertisers are already changing their spending habits – here’s proof.
  • The way to win back digital spend from local advertisers.
  • The best strategic move to increase revenue without having to rely on new business.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Audacy Quietly Firing

INSIDE …

  • The way top talent is being targeted and removed.
  • The Audacy firing plan from sources close to the company.
  • Who is immune -- at least for the time being.
  • The dilemma of Jeff Federman.

Read the full article here

Free samples of our work here.

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Scroll through a complete list of previous stories here

Panicked Radio Groups Planning Side Hustles

INSIDE …

  • iHeart’s surprising plan – forget that big platform of services, they’re betting the future on one project.
  • Audacy’s “go-to” rescue plan is NOT podcasting in spite of what they tell investors.
  • Cumulus is talking up Westwood One but betting on something entirely different.
  • Townsquare’s brazen new side hustle.

Read the full article here

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Talk to Jerry privately here.

Scroll through a complete list of previous stories here

“The Great Resignation” Is Killing Drivetime

INSIDE …

  • Overwhelming new intel that poses a serious problem for radio’s coveted drive time audiences.
  • The ways radio audiences have changed in the past year off.
  • The likely replacement for traditional morning and afternoon drive for listeners reluctant to get back in the car and drive to the office.
  • Radio groups are making drivetime slippage worse – here’s how.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

The Radio Ad Turnaround Is Weaker Than Touted

  • Advertisers are confused – their 2 biggest dilemmas.
  • The dirty little secret rarely talked about – collections.
  • The 2 things local AND national radio advertisers will pay a premium for right now that most groups cannot or will not deliver.
  • The advertising return to radio will be less than promised – for Saga, Townsquare and Salem MORE – why?

Read the full article here

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Report Newstips confidentially in our Witness Protection Program here.

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Scroll through a complete list of previous stories here

FM/AM Is Closer to Paying Performance Rights Fees

INSIDE …

  • Possible “cutouts” to help most radio stations absorb music performance rights fees – some of them are outrageous.
  • The old argument that radio sells records is no longer cutting it – here’s radio’s best 2021 counter argument backed by facts.
  • The car was once radio’s best defense against performance rights fees – the best argument now is totally different.
  • Democrats are largely for music, Republicans for radio – the thing that will break the logjam.

Read the full article here

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Scroll through a complete list of previous stories here

Audacy, iHeart Escalating Morning/Midday Talent Cuts

INSIDE …

  • Jerry, wait a minute!! What about Scott Shannon’s contract at CBS-FM in New York?
  • Their latest idea for knocking off expensive air talent and more options to replace them.
  • The way they are going to handle expiring talent contracts from now on.
  • The reaction of advertisers – local and big spending national – to losing their live read and live promotional appearance talent.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

10 Sellers Quit Another Audacy Major Market

INSIDE …

  • What’s eating a total of 15 of their employees (including 10 salespeople) so much that they quit another Audacy major market over the past 7 months – not fired or pushed out.
  • An exodus of 10 critical salespeople including a GSM who walked away, not fired.
  • We’ve studied a list of those who quit – an update on their current status, how many are still looking for work.
  • The employee who “preemptively” quit Audacy to work for Cumulus – no pay for six months to join their competitor.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Format Flips Are Alarmingly Increasing

INSIDE …

  • The reason owners now want more format changes and less brand building.
  • What happens to all the “brand managers” that are multiplying like cockroaches under consolidated owners.
  • They’ve been practicing on AM stations that don’t matter to them until now – what it will look like as FM formats do more flipping.
  • The fate of morning shows, old school PDs and which current formats will remain “protected brands”.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Townsquare Crushing iHeart in Miller Kaplans

INSIDE …

  • Mistakes iHeart made to let tiny Townsquare clean their clock in radio revenue.
  • How Townsquare is killing it in Miller Kaplans in face-to-face radio ad competition with big consolidators – aren’t they supposed to be a Digital First company?
  • THEIR SECRET SAUCE: the surprising moves that advertisers are eating up (and very stealable).
  • What iHeart is going to do to stop pipsqueak competitors from out billing them.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Ex-Audacy San Diego Employees Tell All

INSIDE …

  • New fallout after the 28th employee since 2018 exited last week.
  • Self-inflicted moves to hurt revenue documented.
  • Toxic F-word workplace accusations (among others) aimed at employees – reportedly uttered in public.
  • Allegations about manipulating sales commissions.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Sellers Are Virtually Giving Away Their Stations

INSIDE …

  • How about 4 radio stations including 2 FMs sold for cash you could probably raise in less than 30 days – it happened again.
  • Today’s current REAL value of an FM station – but with 4 hurdles that must be met first.
  • The way desperate sellers are structuring deals to unload unwanted stations (and yes, we’re talking FM stations too).
  • For sellers who can’t find a buyer, their outrageous plan to shrink the stations.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Ex-Employee Outs Abusive Workplace at Audacy

INSIDE …

  • Damn! Radio employees are finally fighting back -- one forced out Audacy seller exposing alleged verbal abuse in this memo to none other than David Field himself – his reaction.
  • Direct quotes including the actual abusive language used against employees in emails distributed to staff. (Can Russia delete them otherwise Audacy is caught red handed on their server).
  • What an account exec claims she was forced to do to placate her market manager’s ego.
  • iHeart, don’t laugh – some of YOUR employees are now quitting faster than you can fire them too, details.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Owners Bailing on Radio as a Standalone Business

INSIDE …

  • The most popular side hustles as radio becomes the add-on.
  • What the hell, suddenly consolidators can’t sell local radio.
  • Here’s a headline: local advertisers would pay a premium for radio ads now if they could get this one deliverable.
  • Even Cumulus knows its new partnership with Uber is a nothing burger so why are they wasting time on it.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

The New iHeart Office Plans for 50% Staff Reduction

INSIDE …

  • This iHeart officeless masterplan has some clues about who they might consider essential and who is expendable.
  • What speaks volumes: who gets an office and who works remotely – like it or not.
  • What they’re going to do with local management and sales.
  • This new minimalist office does not look like a radio station you’ve ever worked at – some pictures may help.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

27 Audacy Employees Exit in One Market Alone

INSIDE …

  • 27 departures in one market alone – confirmed by name and job, kept under the radar by Audacy.
  • And while David Field is reading this today, he will learn that a 28th is walking into the market manager’s office and, you guessed it, giving their notice.
  • We’ve studied where these people landed – you tell me if they improved their situation (one went to work at Costco, here’s where the others wound up).
  • One pregnant seller on maternity leave fixed Audacy’s ass for her alleged treatment.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

iHeart: White People Need Not Apply

INSIDE …

  • Matt Drudge scooped the story to the general public while the happy talk radio trade press looked the other way – until now.
  • iHeart caught red-handed practicing reverse racism – the inflammatory email that started the controversy.
  • Here’s how this blunder happened -- and the consequences for their predominantly “non-diverse” work force.
  • The effect on further iHeart hiring.
  • How not to apologize for a gigantic blunder – avoid what iHeart did.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Local Ad Growth Warning

INSIDE …

  • CEO’s are out promising a killer 2nd quarter but it all depends on what the meaning of killer is.
  • What we’re learning about collections, bundling, rates and radio resistant advertisers.
  • Did digital and podcasting help make up for radio ad shortfalls?
  • There are definite unexpected constraints that have popped up even though they are now discussed publicly.
  • What some group heads privately think will really happen – they dare not say it in public.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Employees Have the Upper Hand Except in Radio

INSIDE …

  • Everywhere in the U.S. economy there is a shortage of workers except radio – how those private equity greedy bastards are now doubling down to keep it that way.
  • One radio group is hiring more than they are firing but it sounds better than it is.
  • Audacy and iHeart have the most sophisticated job killing ideas of any radio group – what they’re up to next.
  • The coming end of “brand managers” – already.
  • What’s a “content distributor” – the hottest, hard to get job coming to a radio station near you.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Radio Susceptible to a 5th Ransom Attack

INSIDE …

  • The reason radio is uniquely susceptible to hackers seeking ransom.
  • You may not care about the greedy owners of radio groups, but it appears employees have also had their personal information breached.
  • The radio group thought to be the next easy target for a massive hack attack.
  • Proof of how radio groups are not taking hacking seriously despite the industry’s previous costly incidents.
  • Private equity owners have their own unique way of dealing with ransom demands – see if it makes your personal information feel any safer.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Radio Revenge: 2/3 of Online Ads Are Going to Bots

INSIDE …

  • Whoa! Finally research that radio stations can use to knock out or slap down digital spending that has been reducing radio buys and rates the past few years.
  • Ammunition to sell against digital when they lie about their massive reach.
  • A new way to bat back other radio groups selling against spot sales with their own over promised digital products.
  • 2 powerful talking points that can be used in messaging against digital products that are immediately believable and fully substantiated with research.
  • The true story of an iHeart sales rep who recently switch-pitched from radio to digital to podcasting in one short sales call (and lost the sale).

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

iHeart Planning to Go Direct-to-Tower

INSIDE …

  • It’s iHeart’s “Manhattan Project”, has a name and an initial timetable.
  • What about those “cookie cutter” studios they are starting to build so they can bail on expensive leases or sell real estate – where do they now fit in with direct-to-tower?
  • Here’s where they are going to roll this out first – the markets that have priority.
  • Over 25% of iHeart’s total revenue comes from fewer than ten big markets – do they dare do direct-to-tower there – the surprising answer.
  • Oh wait, this direct-to-tower cost efficiency disproportionately affects the future of certain employees who are presently thought to be safe – care to guess who this next extinct category is? Then multiply by every market that goes direct-to-tower.

Read the full article here

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Scroll through a complete list of previous stories here

The Plan After Rush Limbaugh Replacements Fail

INSIDE …

  • You don’t think any of these newly minted Rush replacements are going to survive, do you? Neither do the major radio consolidators.
  • Take a look at their Plan B – better look at it twice because you may not believe it the first time.
  • A bigger question -- what happens to hundreds of news/talk stations if these Rush replacements fall flat on their face.
  • And by the way, here are some examples of talk station ratings since Rush died – notice how they’re keeping this real quiet.

Read the full article here

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

Scroll through a complete list of previous stories here

Mary Owes Lew a Huge Apology

  • Cumulus declines are more staggering than they’re letting on
  • Their “voluntary” paydown of debt was deceiving 
  • The Cumulus bankruptcy was not necessary
  • The fact-based reason for Cumulus’ financial decline
  • The consequential effect of selling Cumulus stations
  • The tower land grab explained

Read the full article now  

Free samples of our work here.

Report Newstips confidentially in our Witness Protection Program here.

Talk to Jerry privately here.

See a complete list of previous stories here

Wall Street’s New Name for Radio

  • “Incumbent Audio” instead of terrestrial or broadcast
  • The unbundling of radio
  • Private equity is the reason radio has become a dirty word
  • Even radio groups are backing away from the term radio
  • Local radio is the distinguishing term

Read the full article now  

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See a complete list of previous stories here

End of the Nielsen “Blackmail” Strategy

By “Blackmail” we mean the specific dictionary definition that closely applies – the use of threats or manipulation to get someone to do something.

That includes the fear of being left out of ratings if a station does not subscribe or the consequences of not including alternative and more affordable rating services for media buyers.

The Bain/Nielsen lock on ad agencies that forces them to use Nielsen ratings is about to come to an end.

One of the major ad agency objections to Eastlan ratings is that the numbers are not readily available in their software systems. 

Suddenly seemingly out of nowhere comes the least likely hero to rescue local radio from Nielsen’s expensive ratings monopoly.

Read the full article now  

Newstips 

Urban One Moves on Cumulus

Radio CEOs don’t do these things – they don’t troll for stations.

Urban One needs stations and Cumulus needs to offload them.

But it’s not that simple.

Lenders are avoiding radio loans these days and when a radio group tries to acquire, the stock market punishes them (I’m thinking of Beasley here when they tried it a few years back).

It’s enough to make a casino owner like Liggins wonder what it’s going to take to get someone’s attention at Cumulus to do business with him.

Actually, he has a very creative idea.

Read the full article now  

Do you have information you want to share with Jerry confidentially?  Email him privately here

Newstips here

The iHeart Real Estate Selloff

  • Tampa sold first – the details of the sale
  • iHeart’s other major market studio offices that are actively for sale
  • What they will do with selling smaller market studio/offices
  • The plan for downsizing space in rental markets

Read the full article now  

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Newstips here

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Podcasting is the Enemy

  • The new projections on podcasting’s economic future
  • NPR’s podcasting formula
  • A warning about podcasting’s effect on broadcasting
  • The surprising behavior of young people and podcasts

Read the full article now  

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Newstips here

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Has Radio Gone Nuts?

  • 5 radio music superstars being accused by radio of a “hub and spoke conspiracy” against radio (what the hell is that?).
  • The hiring of an expensive law firm when the group is short on money.
  • The “music killed the radio star” defense explained.
  • The quick way to make a fair deal with the music business.

Read the full article now  

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Newstips here

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iHeart’s Fake Turnaround

  • A warning about what they are not saying is going on behind the scenes at iHeartMedia
  • Do they have enough money to last the year?
  • What’s a stripped-down station look like (because they’re coming)?
  • Who will iHeart employees’ new bosses be?

Read the full article now  

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Newstips here

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Radio’s Digital Implosion

Radio’s fake digital future was confirmed again recently by more first quarter revenue misses even as red hot TikTok and Instagram, Google and Facebook are experiencing critical problems – how local radio should be jumping all over them.

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Radio’s Sudden Rebranding

David Field thinks a name change will right the wrongs of Entercom since his ill-fated merger with CBS Radio (stock price down from $16 to $4 and revenue declining).

Bob Pittman thinks audio is “the” word, not “radio” even though radio specifically defines the medium and advertisers and consumers happily use the term he rejects.

This rebranding outbreak has been bubbling under for decades as stations have forsaken their call letters for slogans and positioners.

If radio is not a word that owners want to use, where is individual station identification headed – we have some early clues.

For example, there are things happening right now around the letters “K” and “W”.

Read the full article now  

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The Cumulus Struggle to Remain Solvent

Wall Street loves a loser.

Cumulus first quarter results were down 23.8% but their stock closed UP last week.

iHeart was down 21% year over year and their stock went UP almost $3.

Audacy went down 19% and their stock only lost 20 cents in shareholder value.

Apparently, there is money to be made when companies claw their way to the bottom and now after sprucing up the radio sector’s worst numbers, Proud Mary Berner is predicting a big comeback in the next quarter.

Something is wrong here so I asked radio executives familiar with Cumulus operations and some competitors to weigh in on their chances to remain solvent.

Read the full article now  

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Audacy Burning Through Cash at Record Pace

The business must generate approximately $120 million in cash operating profit JUST TO KEEP THE LIGHTS ON and not burn cash. 

But with $7.4 million EBITDA in Q1, they will fall tens of millions of dollars short of that goal as 2021 real EBITDA will likely be closer to $75 million so they’ll continue to burn cash.

One of several hidden gems we discovered buried in the 8K SEC filing after announcing a bone-jarring 24% decline in first quarter advertising revenue with overall revenue down $57 million or 19%.

Here are some tidbits you won’t find David “Killing” Field (for killing off radio for audio) talking about.

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Epic Cumulus 1st Quarter Fail, Shakeup

Proud Mary keeps on burning – through cash.

Yesterday we learned that Cumulus first quarter revenue tanked but Mary Berner called it “positive momentum across all of our businesses.” 

Radio down 23.8% -- that must be a record.  Total revenue down 11.5%.  Westwood One down 5.6%.  This is a certified meltdown.

Digital up but not much driven by podcasting which she refuses to reveal other than to say it’s up by 35% -- it is up $1,000 or $35,000 because it’s sure as hell not up $3.5 million – the benefit of keeping secrets.

Usually the Berner, Field and Pittman Traveling Quarterly Salvation Show is about who can stick their heads further up their – well, their corporate financial officer’s “adjusted” figures to deny their own failures.

For Cumulus, there’s a lot more on the line now that they are facing a second bankruptcy.

The stock is down only 11 cents in trading yesterday even though only 120,000 bothered to trade it.

If you want to look into what’s really going on at Cumulus and what the future holds, don’t follow the money, follow where they are bleeding money.

Read the full article now  

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Audacy Planning More Management Layoffs

They’re at it again – a new round of management cutbacks timed with the first quarter financials that they are going to announce Friday.

Now you know, if it was a blowout, they wouldn’t be doing an analysts’ conference call on a Friday hours before a holiday weekend and the suckers in the happy talk radio trade press will probably carry their propaganda word for word as they often do.

More significant is if they can’t beat the first quarter of 2020 which included only one month or less of the pandemic lockdown, maybe they should get out of the radio business and get into audio.

Wait, they’ve already thought of that.

Unfortunately, no matter how Audacy tries to sell their first quarter financials as an out of the park homerun, we have word that there are going to be significant management cutbacks as a result and the way they are going to do it is to say the least – interesting.

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Agent: Radio Talent Book Drops 50%

I don’t know how this hits you because we all know owners have been firing personalities to save money, but 50% fewer personalities for a top agency to represent?

Actually, it’s worse than that as I dug deeper and those numbers surprised me as well. 

Pittman, Berner and Field have been on a mission to eliminate some of the costly pieces of a radio stations finances – morning talent and the person who hired them.

They’re using a few tricks that are becoming evident that also apply to program directors or content managers – same M.O.

And they’re getting away with it on one level – expenses are being cut.

And they’re failing on another – ratings and billing are down where personalities are being replaced.

Meanwhile there is a new product threat to talk radio personalities from a major music streamer that will arrive soon and it’s not podcasting.

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The New MciHeart

Out of ideas on how to realize deeper cost cuts at iHeart?  Nah!

Say hello to the new MciHeart, a series of financial moves that will continue to give their owners financial relief by selling more critical assets – some are secretly under way right now (although they won’t be secret for long).

Of course, they will still fire people, but the MciHeart move is scary for at least two significant reasons.

One, they will be able to realize huge savings by dismantling the radio business as we know it.

Two, once they do it, the other lemmings are sure to follow.

To borrow a McDonald’s ad slogan “you deserve a break today” instead the radio industry is about to get another screwing thanks to iHeart.

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Disney+ Shows Radio How to Fix Itself

The way Pittman, Berner and Field talk about the radio business (or audio as they call it) you’d think that there was something inherently wrong with the broadcasting

Turns out that there is something very right that stations who work for them will not be able to get to, but everyone else can.

Radio is the original content and distribution platform. 

The meteoric growth of Disney+ streaming video service which is fast catching up to Netflix is one of the few other examples of one medium that has both the content and distribution advantage.

Netflix doesn’t, they have to spend $17 billion a year on original programming.  Spotify is the world’s most successful streaming audio platform of other people’s work.  There are many examples like this but few like radio or now Disney+ with their catalog of owned programming.

Which is why radio should stop listening to the “three blind mice” CEOs and start taking advantage of not only what they are but what they create – just like Disney+.

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Radio’s Gift from Apple

Digital advertisers like Facebook, Google and others have been killing the radio industry with their targeted, cheap ads. 

Just yesterday Facebook blew out their first quarter predictions with a 48% rise in revenue and (hum-hum) higher priced ads – and no talk about podcasting on their conference calls the radio CEOs are forced to do these days.

They’ve driven radio rates down, drained radio budgets by redeploying what had been targeted radio ad money redirected to digital alternatives.

They’ve made a mockery of broadcasting which admittedly has a lousy audience measurement system while they have hard data mined by invading the privacy of consumers and surreptitiously tracking their data usage.

Until now.

Apple has handed the radio business a big fat weapon to fight ad erosion at the hand of digital and I’ll bet you few know about how to deploy it and even fewer are going to do it – except you.

Actionable ideas for selling radio against Apple’s new “opt out” for digital ad tracking including a forensic tool you can use against digital ad tracking (the link to that tool is  enclosed).

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Cumulus to Crack Down on Air Talent

The inconvenient truth is that this is a bad time for a company that could be returning to bankruptcy court to so blatantly look and sound racist – but somehow Cumulus is doing it.

  • Bankruptcy seems more important than freedom of speech when previously Cumulus tolerated and perhaps by their unwillingness to take action passively promoted racism.
  • The company seems devoid of any operational standards that are easy for program directors and air talent to follow resulting in firings and then outrage from corporate about how they will not tolerate offensive things said on the air.
  • Cumulus among most other radio groups is run by powerful people with white privilege who appear to be tone deaf to programming that offends audiences of color leaving their talent confused.

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A Warning About the New Talk Radio

Rush Limbaugh’s death certificate lists his occupation as “the greatest radio host of all time” but it could more accurately read “the last radio host of all time”.

No one can replace Rush Limbaugh not just because he has died but because owners have been relying on him for decades to keep their AM stations alive appealing to older listeners – now changes are coming.

  • Erosion of Limbaugh’s audience has rubbed off on other stations not just Rush affiliates and group owner’s are just guessing at what to do next.
  • Listeners are being siphoned off by the oddest programs – an unexpected and dangerous consequence to the talk format and AM radio.

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Audacy May Be Planning Another Stealth Surprise

Audacy brain trust is rumored to be working on a major stealth move that could start generating positive radio revenue even as they pivot to podcasting and digital.

  • It has to do with programming where decisions made by a very tight group of people around David Field have plans to disrupt one of the biggest sources of revenue – for their competitors!
  • A major market is abuzz with conjecture about a potential stealth surprise that they think could happen in the next few months.

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The Dave Ramsey Mess

Radio’s last great syndication hope is under attack for alleged discrimination and “cult” workplace practices.

What are Dave Ramsey’s chances of survival and what’s at stake for radio stations that already lost their top syndicator, Rush Limbaugh, with a bare cupboard of backups.

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Audacy’s Tone Deaf Rebranding of AMP in LA

INSIDE …

Rebranding is the post-consolidation term for format change just as food insecurity is the new term for starving but the end result is the same – yesterday’s change of Audacy’s KAMP, Los Angeles format is a lesson for other hit music stations currently under fire from streaming music services in how not to go from bad to worse.

Radio stations especially hit-oriented music stations that have been pummeled by streaming music services will be shopping for new formats and the AMP rebranding is a model how not to do it.

A much better alternative is right in front of them.

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Podcasting Takes Its First Bite Out of Radio TSL

Podcasting has finally been proven to impact radio time spent listening – we now have supporting metrics that (you guessed it) are being kept secret by the radio interests that funded the study.

Why it matters:  Even though iHeart, Cumulus and Entercom without evidence use podcasting as a pivot away from declining radio revenue, they continue to spend large amounts of money on it at the expense of radio jobs and salaries and promote it more forcefully than radio even though they are helping podcasting siphon off time spent listening to radio.

  • New metrics on the siphoning of radio listeners to podcasting
  • The 4 formats taking the biggest TSL hit from podcasting
  • How much of the radio audience is listening to podcasts
  • The reaction of radio advertisers
  • The one company in the best position to really hurt radio

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Global’s Move to Buy iHeart

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  • News of the phone call between Bob Pittman and Global Media
  • How Liberty Media could still emerge the big winner
  • The two different stories from both sides
  • The fears if a foreign company gains control of iHeart

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The Coronavirus’ Effect on Listening

Good morning:  It’s been 9 months since the coronavirus attacked music and media and we now have some updated information on the effect on listening and live events.

  • Stay at home listeners are expanding their tastes.
  • Drivetime, cume & local shows will go from pause to something entirely different.
  • Views about live events: not what was expected, open minded teens could upend concerts when things resume because they have discovered something born in the pandemic.
  • Radio when “normal” returns.

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iHeart Firings in 2021

As I write this, iHeart is in the midst of a 6-week reduction in workforce that has impacted hundreds of employees.

2020 was a record year for iHeart because they started the year with over 1,000 firings even before the coronavirus hit.  Then, they didn’t miss an opportunity to cut further using COVID as their cover.

So far this year there have arguably been 4 significant RIFs that included furloughs which were also used as cover for eventual firings a few weeks ago.

Every radio group is trimming its sails and you’d have to be on Mars not to know that the worst fears about a COVID economy are coming true.

People want to know have we seen the end of the current iHeart RIFs and which positions are most likely to be targeted in the next six months.

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EMF Thriving While Consolidators Struggle

Educational Media Foundation (EMF) struck again recently when they agreed to purchase KQGO-FM, Edina, MN and KZGO-FM, St. Paul from Pohlad Companies.  The price was not announced but we’ll get into that in a moment.

EMF has been feasting on the drastic decline in commercial radio station prices and has emerged as essentially the only buyer of commercial radio stations.

They have filled in major market voids by picking the bones of Cumulus and others who want quick cash for whatever they can get.

But don’t confuse EMF’s gambit as ill-advised because not only do they have their own way of pricing stations – and lately paying even less – they have an operational plan that has become the envy of commercial radio groups struggling with debt and declining revenue.

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Townsquare’s 2021 Hiring/Firing Plans

Details on RIFs from a company that now earns 50% of its income from digital

Last year after subtracting some corporate salaries and far fewer station jobs, Townsquare did no further reductions in force beyond 6%.

Their bigger brothers and sisters at Cumulus, Entercom and Beasley could not say the same thing.  And even smaller, independent operators feeling the financial hurt of the pandemic resorted to firings.

Saga, one of the most stable operators, made some adjustments early in the year but mostly cutback on the use of part-timers – still, nothing near what the consolidators were forced to do.

We’re getting a sense for how radio groups will handle their personnel expenses in 2021, a year that they had hoped would be a comeback from the coronavirus not another spike of it.

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Podcasting Is a Fraud Killing Radio

It’s fine for fun, but don’t try to confuse it for a business.

So, Spotify forked over its largest podcasting investment ever to buy Megaphone for $235 million and the stock market voted on it with a $24 decrease in their stock price yesterday.

iHeart declared “sequential revenue growth” in its happy talk radio trade publication Inside iHeart Radio – blasphemy the exact same week Bob Pittman and Rich Bressler are firing hundreds of employees and blaming it on the virus.

But all that growth is coming from political (which is temporary) and podcasting (which is non-existent) because Pittman’s claims are made without evidence.  He’s like a politician proclaiming happy days and a recession at the same time.

Claims of economic recovery for iHeart which is down 22% year over year for the third quarter seems in line with what the groups that do better like Saga, Townsquare and Salem are reporting or will report.  What Pittman is hiding is the trade, barter and questionable national that phonies things up.

Why it’s important:  If you fall for podcasting as the answer to linear media’s decline, you’re being suckered. Entercom claims big podcasting growth, again, without evidence – never revealing revenue figures.  And neither Entercom nor iHeart ever talk about profit.

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Tower Deal Bites Cumulus in the Bottom (Line)

Lew Dickey turned it down when he was running Cumulus.

Mary Berner looked at selling their towers but resisted until things got so bad for Cumulus that they had little choice.

But I’m here to tell you it wasn’t really a tower sale.

  • In fact, the deal with Vertical Bridge wasn’t a sale at all and is being treated as fancy accounting as Cumulus quarter revenue continues to decline.

Why It’s Critical:  You’ve heard the NCAA and Cumulus are suing each other over a March Madness that never happened, but the confusing tower deal is more deadly to the future of Cumulus than a sports lawsuit that they will probably lose.

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This iHeart RIF Is Not the Big One

Last week’s reduction in force at iHeart stations – at least their fourth of the year – hit hundreds of victims by surprise, but it’s not the big one.

You may remember me saying that when the year started iHeart had somewhere around 12,000 employees remaining with the intention of cutting it down to around 5,000 for now.

COVID was a convenient ally for Bob Pittman and Rich Bressler because iHeart’s first 1,000+ reduction in force took place earlier this year before the virus shutdown the economy.

iHeart is going to eliminate, consolidate, regionalize and centralize in one major cost efficiency.

All markets are vulnerable to the “Big One” and previously untouched jobs are at risk that iHeart believes they can now eliminate.

The pieces are in place, the goals are massive and the timing is becoming apparent.

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Leaving Half the Stations Out of the Nielsen’s

Will GEICO take just 15 minutes to identify all radio stations they should and have been advertising on now that Nielsen is delisting non-subscribers?  They have $70 million to spend on radio.

Nielsen is betting no.  Here are the odds going forward.

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“Carmageddon” — $500 Automaker Terrestrial Radio Surcharge

Radio group owners are concerned about taking a backseat to digital options such as CarPlay, Spotify, Pandora and other streaming options but they never imagined a time when terrestrial radio would be relegated to a paid upgrade.

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Beware of Entercom’s FanDuel Deal

Whatever happened to the business of radio?

Townsquare is a digital play not a radio company deriving half its revenue from digital.

iHeart is anything you want it to be but call it “audio” not radio.

As of yesterday, Entercom became a new age sports partner of betting app FanDuel while their radio stations are relegated to being a computer in a closet.

  • But get this – almost 32 million people ran out to buy Entercom stock (ETM) Thursday based on the Entercom/FanDuel “partnership” when an average day’s trading for ETM is only 1.1 million.

Why are radio companies distancing themselves from their core business and more precisely what is Entercom up to wrapping itself in sports betting when their stations are being stripped down for cost savings?

What does the market know about Entercom?

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The Return of Live & Local

Entercom, Cumulus and iHeart’s recent decision to regionalize and nationalize programming to save money is going to be the end of any vestiges of live and local radio.

Other groups are sure to accelerate replacing local talent with out of market solutions dealing a suicidal blow to the radio industry.

Smaller markets could also use the savings from syndicated programming solutions because all radio groups are suffering from the coronavirus economy not just the major operators.

Except, if you knew what some of the smaller, more independent owners are going to do because, honestly, they have no other choice – you would be wondering if the big three consolidators aren’t about to walk into a fatal trap of their own making.

With all these cost savings by debt-ridden consolidators, we’re starting to get a look at how other operators are going to respond by taking advantage of this gift to reject local content that iHeart, Entercom and Cumulus dropped in their laps in markets where they compete

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Nielsen To Retaliate Against Non-Subscribers

Madder than hell, Nielsen isn’t going to take it any more: 

  • The onerous new rules for non-subscribing stations who are doing nothing illegally starting in January 
  • Lost revenue projected for radio groups from $25-40 million 

  • Making it harder for agencies to buy radio

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Owners Giving Up on AM Radio

A number of strategies to get out from under failing AM stations:

  • Desperation moves to save money
  • The surprising list of licenses being turned in
  • Major groups reverse their thinking on what to do with AM stations

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New Developments in Liberty’s iHeart Takeover

What’s taking so long – why is Liberty slow rolling the iHeart takeover it asked (and received) the DOJ to pre-approve?

  • Strategy change that has iHeart’s owners worried
  • Study Mel Karmazin and Tim Westergren’s demise at the hands of Liberty’s John Malone for a clue of the hardball tactics to come

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Cumulus Caught Running Up Expenses

What is that important that the Cumulus board of directors would mortgage the company’s future?

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Entercom Faces Crucial Stress Test Audit

Sometimes I am asked why I don’t like Entercom.

I have nothing against Entercom but if I owned their stock, I’m not sure my answer would be the same.

In the time between the CBS merger announcement and now, Entercom has gone from $16 a share to $1.50 on a pretty consistent downward path. 

Nothing has gone well. 

It was a tax-free merger.  Some 244 stations including 23 of the top 25 markets where Entercom was lacking. 

Long before the coronavirus, the merger seemed destined to fail with CEO David Field seemingly more interested in cost efficiencies than maintaining the high performance he acquired from CBS.

So put podcasting aside as the great differentiator and take the company’s promises with a grain of salt from now on because D-Day is coming.

Entercom will soon have to undergo an accounting “stress test” with major implications.

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Monthly Layoffs Ahead at Entercom

Entercom’s move to switch country and alt music formats to national, satellite delivery has already cost a reported 30 jobs – now they’re looking to expand it.

  • 2 formats per month reportedly will be downsized – This means that with alternative and country formats already announced, more salaries can be saved for the company that despite its rhetoric is headed for dire financial trouble. All the music formats will eventually be affected likely by the end of this year and news and talk will be part of the nationalization and regionalization of local formats at Entercom.  Privately the company has indicated as many as 10 music formats may be subject to national satellite delivery.  Read the full article now …

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Entercom To Switch 2 Formats a Month to Satellite

What a bombshell!  Entercom Satellite Network!  David Field insists its local while starting another round of layoffs.  Here’s what the happy talkers are missing …

  • The rest of Entercom’s plan to switch to centralized satellite format delivery.

  • The roll out schedule beyond next week.

  • The fate of live talent presently under contract.

  • The rebranding of Entercom “brand managers” and their job security.

  • Body count: Total anticipated layoffs after all formats switch to satellite.

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For Radio, There’s Townsquare Digital and There’s Not Exactly

There is only one radio group that is a major player in digital revenue and that is Townsquare.

Other radio groups envy them because with revenue off an average of 50% the second quarter year over year, they need new sources of revenue.

Podcasting, an arguably questionable source of future growth, is significantly not a big part of Townsquare’s digital revenue haul.

Townsquare has been relatively secretive about how they do so much digital business, but upon further investigation, this company consisting of tiny market stations has a huge business platform.

We now know how many people they have working to pull off this 50% digital miracle and how many clients contribute to the revenue stream plus the unique way it is sold and serviced – even the amount of revenue digital contributes to their bottom line.

And now Townsquare is getting ready to expand into markets where they don’t own stations which could be a wakeup call for their larger competitors.

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David Field Makes His Bet on Radio News — It’s Video

Entercom’s CEO David Field has hired an experienced video exec to become the company’s first Vice President to run the highly profitable legacy CBS all news franchise --  he has no experience in radio management or programming.

A painful transition is ahead that will affect all present employees.

A new model is coming for a company not comfortable with “the CBS way” of doing all-news.

It’s a big gamble with a lot of money on the line at a time when Entercom can’t afford to lose any of it.

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Entercom Considering Talent Changes

  • Talent changes get serious for Entercom after January 1.
  • Coming are some big changes in where and how Entercom will use talent.
  • New stipulations in performers’ contracts that favor the company.
  • Spillover to non-contract Entercom talent.
  • Digital disruption of on-air talent.

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The SiriusXM Takeover of iHeart

  • Imagine SiriusXM/Pandora/iHeart together as one now that the DOJ has blessed Liberty Media’s 50% stake in the terrestrial radio giant, it’s only a matter of time.
  • I know, you’re asking, will it be more of the same (losing billions, firing people and cutting jobs).
  • Don’t expect the SiriusXM/Pandora/iHeart to be your father’s iHeart going forward as everything is going to change – everything.
  • The debt problem … a new programming philosophy … a new killer way for Katz to hamstring iHeart competitors … those 10,000 iHeart employees that remain.

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Radio’s Solutions for Record Q2 Losses

Starting this week, the excuses begin again as radio groups have to reveal record second quarter losses ranging from 25-57% year over year.

And things are not looking up in the current 3rd quarter as COVID and the economy are killing the radio industry.

You can bet the CEOs will doubletalk their way into making gigantic losses like little ones even though the 25-57% losses are Wall Street’s real estimates and do so at their own peril.

It’s impossible for any radio group to survive without bankruptcy or reorganization if these negative trends continue.

There are a few radio groups that actually have a plan that could work or at least mitigate this worst-case scenario.

Two will absolutely survive, two will very likely head into refinancing/bankruptcy in 2021, and one is planning something unorthodox for the radio business.

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Townsquare Fires Nielsen in All Markets

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  1. Two major groups have now told Nielsen to shove it and Townsquare is not done cutting questionable expenses.
  2. The ways Nielsen is playing hardball with radio companies looking to cancel.
  3. Red flag:  Nielsen reportedly considering a retaliatory move of their own.
  4. When Liberty buys 50% of iHeart as the DOJ just okayed, do they keep Nielsen or do without?
  5. BTW, if you’ve never heard the beating Nielsen gave Saga over what some called trumped up charges of ratings theft, it has a surprise ending.

Longer Shifts, Stretching On-Air Talent

You could almost see this coming.

iHeart and other radio groups are already setting up another major salary dump by quoting Edison research. 

Entercom has a plan that is even more reckless because it raises the ire of unions, over works their on-air talent and provides even more cover for another reduction in work force.

Speaking of that, the 2nd quarter radio revenue reports are due within the next few weeks and that is the accelerant that will set off more firings.

Even top name talent is now in the crosshairs.

Radio doesn’t need the coronavirus as an excuse for firing, the worse RIF in iHeart’s history occurred before the lockdown this past winter and as usual programming will take the biggest hit.

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Radio’s Next Act: Subscriptions, Alexa & Video

It’s not podcasting or reselling Facebook and Google ads that is the future of radio.

It’s money from paid subscriptions, Alexa and short-form video.

That doesn’t mean that desperate radio CEOs are going to do anything different, but we know one who is and he’s already dispatched his teams to develop income streams in these three key areas.

What this looks like is completely crazy to Bob Pittman and David Field who seem to be hanging on to podcasting as if it was a life.

But let’s take a look at crazy so as not to be the last to see the future.

Radio’s significant free cash flow is the engine that will fund a hurting radio industry that is now looking to a new model to make up for low rates and advertiser interest in digital media – the next act explained.

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No Townsquare Layoffs Through Year End

Entercom, iHeart and Cumulus have been conducting massive layoffs and furloughs this year – Townsquare did one in April.

All radio groups have been reducing work force due to unmanageable debt although they blame it on the coronavirus.

Townsquare is drawing up a unique contingency plan that provides the possibility of future job security.

Most radio groups are getting ready to do another round of cutbacks within weeks of quarterly revenue reports.

Some big Townsquare cuts are in the pipeline but they are not going the Entercom route.

There is only one radio group that has an actual plan to save jobs in spite of debt, COVID and the economy – their long-term plan revealed.

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No Ad Rescue in Radio’s Political Revenue

This is the worst-case scenario come true.

The political advertising windfall that radio usually receives is not happening as the first metrics start coming in.

And this is no time for that with the lockdown economy causing 25-57% declines in revenue compared to last year.

No radio group can withstand these losses which can now be documented.

The real question is – is there still time to make up for the early losses and if not, what options are on the table.

It’s not just a battleground state problem – we can now document that political advertising is booming for competing media, so why is radio getting so severely snubbed?

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Radio Seeking Non-Radio Merger Partners

Liberty’s takeover of iHeart changes everything.

Soon one company with a satellite radio monopoly, one of the top three streaming music services, a live events platform and iHeart’s 850+ terrestrial stations and an array of side businesses will redefine radio’s place in the media business.

Standalone radio companies will be left with their debt and not much else including digital with which to compete.

Radio groups other than iHeart will now have to be thinking of how they could bring their free cash flow and bury their debt in to a larger growth platform.

Let’s start with Entercom, the most vulnerable radio group once Liberty merges with iHeart -- what would Spotify and Entercom look like together?

And what non-radio media company buys Beasley or Townsquare?

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Entercom Hiding Serious Financial Risk

There are signs that Entercom is fighting a losing battle to keep the radio group afloat.

No one cuts more operating costs per station than Entercom and even that looks like it will not turn out to be enough.

In better times, they would likely have years to turn the company’s finances around – now that time frame has been revised.

Entercom doesn’t have a Liberty Media waiting in the wings with which to merge like iHeart does– the second biggest radio group will have to do it as essentially a pureplay radio company in spite of all their hype about live events and podcasting.

Behind the scenes Entercom has made moves to keep the wolf away from the door and now we know the price they are paying for them.

Entercom is a public company that values its privacy but unless the coronavirus magically disappears, it will have to downsize everything and do things it has vowed not to do.

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Radio’s 2nd Quarter Losses Expanded

This is the worst quarter in radio’s history as financial analysts prepare to warn their clients about new data.

That means even greater losses than the ones radio groups previously predicted.

What’s worse is how many quarters the industry can sustain further losses before more drastic measures will be taken especially as a second lockdown looms in many states.

No radio group can sustain these losses looking to the current third quarter and for whatever happens for the entire year.

There are some surprises as to which radio groups are doing better and losing less.  No company will likely post positive growth for the year.

There is only one radio group that is already restructuring to stay afloat and one that – believe it or not – could become immune to coronavirus losses within 6-9 months.

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Entercom to Cut Remaining Talent Pay

It’s come to this – David Field chipping away at talent salaries (especially CBS Radio) until he has run out of time.

Even though Entercom is in the process of reducing live talent to no more than one person (and salary) at a station (if that), the surviving personality tends to be highly paid.

This is Field’s war on what he considers highly paid air talent and there’s a timetable.

It’s going to focus on salaries and redeploy what talent remains in a unique way.

Not all will be offered a chance to stay and those that do are going to see their compensation devastated.

Debt and the second lockdown of local businesses will prompt Entercom to rethink the pay structure – yes, of even personalities who generate the most revenue. 

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Liberty/iHeart Merger Set to Weaken Competitors

  • Now that the DOJ has given Liberty the greenlight to buy up to 50% ownership of iHeart, the new satellite, streaming, podcasting, terrestrial radio and live events behemoth will target Beasley, Entercom, Cumulus, Saga and smaller operators.
  • None of Liberty’s potential competitors joined the public interest groups in fighting the DOJ’s approval – and now they will pay.
  • Liberty will pay down iHeart debt and then use a shrewd tactic to eliminate most local radio costs including programming, sales and management while competitors fail to keep up with their own debt payments and are forced to restructure.
  • The feared “Malone Bundle” will put pricing control for the entire radio industry squarely in Liberty’s hands.
  • And radio groups not named iHeart or Liberty will be frantically searching for non-radio merger partners – here’s what that looks like.

Read the full article now

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David Field Makes His Move on All-News Content

  • The inherited CBS all-news formats might just be the CEO’s biggest frustration.  Dropping ratings as all but two of Entercom’s seven stations languish on the AM dial.
  • Restrictive union agreements. And, all are run by PDs who worked for CBS. Some date back to the Group W days.  You know how Field really feels about CBS.
  • Something unusual caught the eye of Entercom insiders last week: a mysterious job posting for a VP/News, to “manage all broadcast and digital news content across 8 All News and 18 News/Talk stations in 23 markets working with brand managers [PDs] and news directors across the country.” (For the record, there are seven, not eight all-newsers – somebody forgot they sold WBZ-AM to iHeart.)
  • This is a brand-new position for Entercom. Under CBS ownership, all “format captains” carried VP titles, which were dropped when Entercom took over. The last VP/News was Steve Butler, who also programmed KYW in Philadelphia.
  • New concerns about mixing advertising with news content and the hiring of a czar to transform the all-news franchise.

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DOJ to Radio: Drop Dead

I knew it.

John Malone wasn’t asking the DOJ for pre-approval permission for his Liberty Media to take a potentially controlling stake in iHeart  – he knew it all along.

Wednesday the DOJ made it official by green-lighting up to 50% ownership of iHeart for Liberty even before Malone made his move – a highly unusual tactic when most deals get monopoly scrutiny after they are announced.

And this is a big deal – bigger than the radio industry even knows as they exist in a world of denial that has gotten them into a real mess.

An interloper with a lot of money who has been putting together a media company by buying distressed companies for huge discounts (like SiriusXM and Pandora) is getting away with the heist of the century – his monopoly is buying iHeart’s monopoly.

We’ll get to the business sense of this for Malone in time.

The real issue is that starting with the DOJ ruling every other radio company is now Malone’s bitch in ways that he will force them into desperate mergers or reduce them to insignificance.

Read the full article now

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Entercom Regionalization Plan Feared

You probably already know that Chicago is doing traffic for Entercom Detroit – they even got a pronunciation guide sent in for Detroit streets.

Traffic hubs are nothing new but the concept seems to be expanding yet even with that Entercom laid off two people in its Philadelphia production center during one of their big post-COVID RIFs.

iHeart’s Total Traffic and Weather still exists to save money and ironically provides traffic services to competitors like Cumulus and Entercom among others.

Things are about ready to really get out of hand with regionalization of radio.

Entercom reportedly is considering plans to expand the use of regional centers to eliminate more employees and they are thinking big.

With the country going back on lockdown and the prospect for radio resuming its ad business to reintroduce local advertisers that remain shut down, we begin to get a look at what regional radio with virtually no boundaries looks like.

Read the full article now

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Doomsday Plan Readied for Cumulus

Things are going so poorly for Cumulus that the radio group reportedly has developed a secret “doomsday plan” that kicks in when all other remedies fail.

Another bankruptcy doesn’t solve their problems:  It’s still an option that is coming closer to reality but then the lenders who now own Cumulus take another haircut and their losses become more permanent.  But their so-called “doomsday plan” is a Hail Mary that is launched before then with disrupting effects on their employees and stations.

  • Changes to programming and sales.
  • Extreme repercussions greater than even their worst layoffs and furloughs.

Read the full article now

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Katz Monopoly About to Get Bigger

What kind of a screwed-up industry is radio when the largest group fueled its growth by taking on killer debt and then using bankruptcy to reduce it?

All the while operating as a legal monopoly whose predatory practices have helped weaken the business.

But the one monopoly that has operated in a stealth fashion to redirect ad revenue to iHeart, parent of Katz, is ready to make a move that could have devastating effects on Entercom, Cumulus and smaller radio groups.

Radio’s only rep firm is going to get bigger, tougher and have more of a grip on national ad dollars.

The companies most vulnerable to Katz may not even be fully aware of their plans and the tough tactics that are going to be used on them.

Fortunately, national business is about 15% of most stations’ revenue, but unfortunately what Katz has in mind will likely creep into local dollars and the timing couldn’t be worse.

Read the full article now

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Cumulus Seeks Extensive Asset Sales STAT

Turns out Friday’s gutting of Westwood One and laying off an additional 3% of Cumulus employees will not be enough.

Mary Berner and her team have reportedly presided over more than $1 billion of value in both debt and equity and that will increase significantly over the next 12 months.

Desperation is setting in what with the virus, the economy and the effect shutting of down parts of the country again will have on local ad sales.

Cumulus has already picked all the low-lying fruit like selling off major market stations for whatever they can get.

Now Berner has instructed Dave Milner to move on to a particularly painful option to sell off more assets and this is going to be devastating for Cumulus employees who are already on the edge of their seats.

Read the full article now

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Liberty’s Next Move in the iHeart Takeover

They own 5% of iHeart now but failed to take control just prior to iHeart’s bankruptcy as John Malone expands the mergers long game.

Malone is not messing around.  He took the unusual step of asking the DOJ to approve the merger before he gets it done.  Approval is usually sought after you have a deal.  Liberty is playing a chess game with principal iHeart stakeholder Bain Capital.  We’re now learning why a beleaguered radio industry is so critical to Liberty’s future.  How they will likely remake iHeart and the significant effect the merger could have on iHeart’s main competitors – Entercom and Cumulus as well as the music business.  For surviving iHeart employees – which side should you root for?

Read the full article now

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Entercom Memo Muzzles Sports Talent

Sales and programming have always been a tough balance in radio.

Where sales dominate, the product tends to be compromised and where programmers have unfettered control, the station can become difficult to unlock maximum ad revenue.

It’s a sensitive balance.  One Entercom sports station (they have sports radio in 29 of the top 30 markets) actually went there – put it in writing in a recent staff memo with some colorful language that interferes with programming and putting the station at a competitive disadvantage.  We have the memo.

Read the full article now

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The Countdown to Live Events

The music business is driven by live events.  And the radio industry now more than ever needs the concerts, local events like Jingle Ball and Wango Tango to augment the decline in ad revenue that started several years ago at the hands of digital competitors. 

Then came the coronavirus that suddenly ended the likes of these events and bigger and important music business scenes like SXSW, Coachella, Bonnaroo plus scores of indoor venues shut down by physical distancing restrictions.  No vaccine in site just hope.  Everyone agrees that live events must return for the music business and for radio’s moneymaking live events but the question is when?  As it turns out a very precise answer may be found in the Spanish Flu pandemic of 1918.

Read the full article now

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How Powerhouse WBEB Lost 60% Of Its Audience

For 50 years Jerry Lee spent his way to number one in ratings and revenue in Philadelphia with one radio station doing things that were proven to be counterintuitive for radio.

Radio wisdom says cut.  Lee said spend and the results are indisputable.  Over the years more than 10 times well-funded and orchestrated attacks on his FM station were launched and Lee won leaving the others defeated.  In less than 2 years the new owners did what competitors couldn’t do for 50 years – totally tank WBEB-FM.  It isn’t as simple as just cutbacks being the culprit.  It is totally misunderstanding the stations DNA.  With the pressure on due to coronavirus-related advertising shortfalls, studying the decline of WBEB could be lifesaving for others. 

Read the full article now

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Entercom Eyes Benefits Cuts

There is more belt-tightening coming as Susan Larkin takes over for longtime COO Weezie Kramer.

This year alone Entercom workers have been asked to take voluntary pay cuts, mandatory weeks off without pay, furloughs without an end date while others have been fired in greater numbers than ever before.  Turns out the first cut wasn’t the deepest.  To coincide with Entercom’s recent restoration of 20% pay cuts there is this to offset it.

Read the full article now

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iHeart Using BLM to Cut Jobs

So, let’s get this right.

Bob Pittman has started a Black Lives Matters radio network as a front to cut jobs initially from 15 stations with more to come.

Hiding these firings behind a movement that aims to attack systemic racism only emphasizes it more.

This is an example of pandering that only a white dominated media company like iHeart  could try to get away with.

Their new Black Information Network’s flaws are already exposed and what’s worse, you can almost smell how iHeart and the lemmings who follow them are going to jump on the BLM movement to advance their own goals.

Details on iHeart’s plan for BIN are downright embarrassing and may draw the kind of ire against the entire radio industry as an unintended consequence.

Read the full article now

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Radio Will Come Back, Advertisers Not So Much

Stations have been floating their best advertisers during COVID.

When they return as paid sponsors, it will all be different in at least two important ways.

Some of radio’s misguided practices from the past will unfortunately resurface but there is one radio group that has been using the downtime to build campaigns that advertisers need and will pay for in a timely manner.

There are collection problems ahead making the full-fledged return of radio ads moot to the bottom line.

And Black Lives Matter – I guarantee you 100% of the nation’s radio stations don’t see the destabilizing effect of a potential BLM boycott and there is no industry that is more vulnerable to it than radio.

iHeart is also hoping to flip formats on 15 stations to a black “our voices will be heard” format – firing more people and creating a radio syndication under the cover of commercializing the issue of racial injustice – but will advertisers support a gratuitous effort that will seem like pandering from a group of white execs and a predominantly white board of directors?

Radio believes the new normal is to reopen and advertisers in radio and in social media are hitting pause – which is it?

Read the full article now

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Will Entercom Ever Pull the Trigger on FM All-News?

Now, would be a good time.

But it looks like David Field is slow to wake up and take note of the reality as clear as the Nielsen’s under his nose.

A pandemic, racial strife we haven’t seen since the 1960’s, and a divisive election year. It’s an ongoing news cycle that should be drawing new ears to the Entercom all-news stations.

If, listeners could find them.

He’s got the FM stations to make the switch and simulcast AM news, but why is Field so reluctant when news accounts for a great deal of revenue from Entercom’s CBS Radio merger.

Read the full article now

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Liberty Media’s iHeart Talent Dump

Some people don’t believe that David Field is planning to eliminate all live talent from his stations except for maybe one show – if that.   

Entercom’s WBBM, Chicago morning traffic reporter Beau Duran took to Twitter the other day to say “@Entercom has handled this so much better than other radio companies and here @jdelcolliano goes talking out of his ass once again”.

Except, it’s true – coming to all markets except New York and LA one live show per market max and even though David Field attempted to change the subject by restoring wage givebacks once the news leaked, he isn’t changing his mind about eliminating live talent.

Beau can’t be faulted for shooting the messenger, after all, radio folks just want to keep entertaining people but Field is the one who runs Entercom and he did not back down nor even attempt to walk it back.

What’s worse is when Liberty takes over iHeart (Liberty reportedly owns about 35% of iHeart’s debt and is asking the DOJ for permission), it will unfortunately mean firings like radio has never seen before in a model so unique that it has never been tried previously.

Read the full article now

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Entercom Salary Restoration Funded by More Firings

When did you ever see David Field give money back to employees? 

He’s not known to be the radio industry’s “Discover Card” giving cash back to surviving employees.  He’s got plans to pay for yesterday’s grand salary cut restoration with more firings as we reported yesterday. More developments on firing all live air talent with very few exceptions.  It’s not if but when and there’s more on the timetable now.  And what Field did not say yesterday when he suddenly announced the end of the 20% pay cut that is just as important.  What happens with big talent contracts many of which expire at the end of the year.  Any chance that Field will change his mind?

Read the full article now

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Entercom To Fire All Live Talent

Very few exceptions.

This is even worse than iHeart’s 1,000 plus “dislocation” firings early this year.

And even though Entercom has been mimicking iHeart’s many cutbacks, they are about to take the lead in firing.

Once iHeart, Cumulus and Beasley see Entercom take this drastic step, they may want the savings that Entercom is having.

Entercom will eliminate a massive number of jobs, consolidate operations and run like a virtual satellite network.

Entercom’s plans are in the final stages according to sources close to the situation.

The details are ugly and sad.

Read the full article now

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Entercom’s Cost Cuts Beginning to Backfire

As one former CBS employee tells it, David Field was jonesing to cut programming expenses even before Entercom officially completed the merger.

What’s public is that even back then when the economy was still booming, Field reportedly wanted to know if certain people employed by CBS were really necessary and could they be eliminated.

Field reportedly felt that CBS paid their people too much and that many were expendable and the ones that weren’t could work for a lot less.

Now evidence is mounting that Entercom’s aggressive cost-cutting is killing the company’s ratings and negatively affecting their declining revenue.

Number one stations have lost over half of their ratings with huge revenue declines.

College stations are ranking higher than their biggest brands in two of their top markets.

And then COVID handed Entercom all-news stations a gift and they gave it right back as their cost cuts are now documented to hurt more than help.

Read the full article now

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Bombshell: iHeart, Entercom, Cumulus Furloughs Permanent

  • Enough already! Getting furloughed is not better than getting fired and you’re about to find out why (beyond the obvious).
  • This pox is on iHeart’s house as the lesser but troubled radio groups are following their furlough strategy to the T – a plague on all their houses.
  • Furloughed employees are about to get screwed (again) and here’s why radio groups are abandoning flat out firing for the slow torture of furloughing.
  • Entercom deviated from the iHeart plan at first and here’s why they won’t make that mistake again.
  • The ingenious iHeart “no fire strategy” that actually hides the furloughed – keep in mind that the other radio groups follow iHeart’s lead so this is notable.

Read the full article now

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Radio Faces 6 Bankruptcies

A few years back when we first informed you that Cumulus was seriously considering filing Chapter 11, Mary Berner went out of her way to publicly deny it – shortly after Cumulus filed for bankruptcy reorganization.

Same with iHeart – the word was out about their financial difficulties but their denial was followed by, you guessed it, bankruptcy.

Now in an industry facing the tough task of selling advertising in a recession COVID is acting as an accelerant to several years of previous revenue decline.

Some radio groups are burning through operating cash, others are also finding it hard to pay down debt from earnings and all have panicked into widespread furloughs, firings and layoffs.

Wall Street money people are not accepting radio CEOs happy talk about getting through these troubles and moving on.

They are baking in more bankruptcies – six to be exact – they know the radio groups, the timeline and the real reasons they will be forced into reorganizing.

Read the full article now

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New Outbreak of Furloughs

It took iHeart a long time to come up with furloughs.

They have been prolific firers over the years but since necessity is the mother of invention, they had to come up with a way to stop personnel costs in their tracks without having to pay benefits or severance – thus the furlough was born.

Then Entercom, Beasley, Cumulus and the other radio groups followed.

Business is still bad – revenue down as much as 50% year over year.  More expenses need to be cut so major broadcasting groups are revisiting the concept of furloughing employees.

They are also considering ways to enhance previous furloughs, expand their use and develop a way to scare employees who manage to escape being benched.

Here are the groups most likely to double down on furloughs for action expected very soon.

Read the full article now

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Urban One on the Brink of a Merger/Sale

Late last week, one of their biggest shareholders dumped all their Urban One stock.

Then yesterday, the Urban One stock went through the roof.  Go figure.

The company is choking on debt.

They’re the only black-owned radio company with the word “urban” that even the Grammys and iHeart are rebuking as racist and outdated euphemism for genres such as hip-hop and R&B.

Someone knows something that is making the public markets this optimistic about a black-owned urban radio and TV company.

One speculated buyer has been identified and if this is to be the new owner, all the Urban One optimism could be worth it.

Read the full article now

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Sobering Look at Racism in Radio & Records

The entertainment business doesn’t need the trouble it is about to have from systemic  racism that has become more prominent with the Black Lives Matter movement and disturbing current events.

The radio industry is the protector of racist policies and at the very least a bad example in doing what’s right.

The music industry has better optics because it produces hip-hop music and spreads the word but unfortunately it does not spread the power and the money.

Radio is about to get whacked for being late to the issue of systemic racism and it will present itself in ways that were unthinkable just a month ago – the music business will be forced to go even further.

Years of denial and neglect are coming due and it looks like more disruption at a time when the media business is already under the gun.

As the racism issue explodes, we are beginning to get a sobering look at the disruption ahead for radio & records.

Read the full article now

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Radio Groups Looking to Shut Local Operations

You’ve heard me say that the coronavirus was a gift handed to radio owners.

Under the cover of a worldwide pandemic, COVID gave failing radio groups a way to quickly paralyze employee costs through furloughs, firings and layoffs.

These cutbacks will be permanent.

It’s the survivors who now have a lot to worry about.

At least one radio group is dead serious about shutting down most of their studios and offices and operating off a model so new that radio stations have never seen the likes of such a plan.

Read the full article now

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Nielsen Disavows COVID Ratings (Clients Paid For)

Turns out the People Meter is a God-awful way to measure radio listening while audiences self-isolate – now we have the evidence.

Along with just about everything else living outside the norm these days, so it is with the Nielsen’s– but not necessarily the way programmers and their bosses/owners had expected.

PPM has many disadvantages that have been exposed over the years – now as the post COVID ratings are being analyzed, there are more. 

Carrying a People Meter is an issue itself along with drive-by listening attributing audience to phantom people – add to that new placement issues, compensation and sticking to a PPM routine while lockdowns have eviscerated routines and is having a major impact.

Now we’re seeing “reported” audience changes that are substantial – the question is – are they to be believed?

Read the full article now

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Townsquare’s Survival Odds

Their new bean counters revealed $108 million in restatements for 2017 through 2019.

In other words, the past three years were financial fiction.

Among the changes:  huge write downs of sticks and goodwill and they overpaid for a live events company and got burned.

Investor lawsuits are being pursued already – only one day after the restatement.

But Townsquare stock rebounded in trading yesterday while the Dow was down and it has been well up from a couple of weeks ago.

For the first time, the industry gets a real honest look at Townsquare and its future.

Read the full article now

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iHeart’s Decision on Furloughs

Now we know what Pittman and Bressler are going to do and when.

Just as important, other groups like Entercom and Cumulus that almost always follow iHeart’s lead will likely adopt the same strategy.

It’s critical because every radio company is in short pants right now looking for ways to reduce expenses and cut their workforces.

There are benefits to furloughing people from an accounting standpoint and there are disadvantages as well.

Bad quarterly revenue reports are expected from all radio groups with losses for the year between 40-50% due to coronavirus and the recession that we have learned started in February ahead of COVID impacting radio.

We get a good look at the iHeart furlough and firing situation for the rest of 2020 again keeping in mind that iHeart dictates the strategy for most major groups.

Read the full article now

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Another Buyer Interested in iHeart

What a screwed-up business we’re in.

Back when radio groups were reeling in the free cash flow, few of them were rolled up into bigger or separate companies.

Now when they are undervalued and susceptible to takeover, interest intensifies.

iHeart looks like it has another buyer at the ready.

But this time instead of fighting it, iHeart appears to be changing the rules that protect their most important assets – Bob Pittman and Rich Bressler.

This indicates the situation is now changing because iHeart is running out of operating cash at a time when revenue for the year could be down 30-40% and now their future is in flux.

Why is a company so burdened with problems attracting so much interest – especially now.

Read the full article now

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iHeart and Entercom Givebacks

Like it or not iHeart and its previous company Clear Channel have eliminated an estimated 20,000 employees since consolidation began in 1996.

They are the leader in firings, layoffs and furloughs but their competitors quietly mimic their tactics and let iHeart take the heat.

More RIFs are coming and they will be substantial after all we’re halfway through 2020 and a record number of employees have been fired but not rehired due to COVID and the uncertain economy.

What’s next?

Givebacks. 

And not to be underestimated, your industry leader in employment disruption has a plan that will be almost as painful for those workers who survive RIFs as for those whose positions are to be eliminated.

Read the full article now

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The Latest on Furloughed iHeart Employees Returning

The big day is coming – June 30th – the date iHeart told its numerous furloughed employees 3 months ago that their fate will be reconsidered.

Corporate has been tight-lipped about what their decision will be. 

With 3 weeks to go, Bob Pitman and Rich Bressler know what they are going to do and it’s fair to say when it comes to drama, you won’t be disappointed.

There is confusion about whether furloughed workers have any hope as promised or whether other iHeart employees have something to be concerned about and why they can’t get any answers from the company.

We now know the reason market managers and even HR won’t address the topic with them.

Read the full article now

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Entercom’s Daddy Issues

Joe Field built the legacy small market radio group known as Entercom.

His son, an S.O.B., (Son of the Boss) took over the company, mortgaged the future by overpaying for CBS Radio and then tried to “un-CBS” the merged company.

Today, the Entercom that Joe Field built is worth less than $2 on the stock market but has close to $2 billion in debt.

The Fields stand a reasonable chance of losing control of the company if they have to go back to lenders.

Reenter Joe Field who whether you are aware of it or not, is back but in a very different way and it if it doesn’t work, there will be a lot of misery for Entercom employees.

Read the full article now

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iHeart’s End of June Housecleaning

Months before COVID, iHeart dumped over 1,000 employees.

Then COVID handed iHeart’s beleaguered owners a “gift” and they used it to substantially eliminate more jobs as advertising took a hit.

This pattern of firing, layoffs, furloughs, “dislocations” and “excellence hubs” (as they called them) morphed into employees taking off a few weeks from the company with no pay.

iHeart billing is off as much as 50% as they continue to burn through what cash they have left to keep operating.

All this as Liberty Media awaits the DOJs ruling on whether they will be allowed to make a takeover bid even as iHeart searches for foreign money to prop them up.

Now they’re going to get serious about cost cutting in some vulnerable markets (over 80%) and it’s going to look and feel desperate and not unnoticed by other radio groups.

Read the full article now

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Apollo to Disassemble Cox Media Group

All that talk about keeping Kim Guthrie and her team was just talk as we found out recently.

Then Apollo Global Management cleaned house and turned right to the Bain playbook.

But it’s even worse.

More resignations.  More uncertainty.  A new mission after paying $3.1 billion for the TV stations and reluctantly paying another half billion for radio.

The new owners seem to be ready to trade off consistent profits for an approach that concentrates on reducing debt.

They will transform the best run media company into what will soon look like iHeart and Cumulus all in one.

Read the full article now

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Foreign Money Invades Local Radio

I have to laugh every time I see the NAB beg for a government bailout of radio by overemphasizing the critical importance of local radio.

Radio is the least local it has ever been and the NAB is ironically the chief enabler of consolidators and their private equity backers who have ruined the industry.

Late last week, the FCC gave the greenlight to a Cumulus petition to allow virtual monopoly control of “local radio” by foreign interests.

This changes everything – obviously the failing consolidators would not go begging for money overseas unless it was their absolute last option.

We’ve discussed the deleterious effects of private equity owners on local radio, Main Street advertisers and declining radio jobs but the greenlighting of foreign financial interest in radio is an entire other aspect to reckon with.

Read the full article now

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Entercom Cutting Live Jocks – And Winning

This doesn’t bode well for the talent fighting to keep their jobs in the radio industry right now.

Entercom has found a way to drastically reduce or eliminate live talent and get ratings to go up at the same time.

Armed with this, Entercom has the template for a massive systemwide reduction in work force at a time when they are burning through cash and getting hit hard by advertising losses due to COVID-19.

Looking at the ratings increases, Entercom is finding ways to confound traditional wisdom that live and local attracts the largest audiences as you’ll see when you consider that listeners seem to like Entercom stations without live talent.

This is empowering to owners that are dedicated to cutting salary expenses in the next 90 days – and the cume vs. quarter hour numbers are mysteriously non-intuitive even as drivetime has been adversely affected by working at home.

This is eerily the look of Entercom’s future downsizing plan that other groups most certainly will follow.

Read the full article now

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iHeart Prepping Radical Pay Cuts

Anything iHeart does is important because the rest of the radio industry tends to follow their lead.

It looks like May is down 50%, June could be as bad causing concern about lagging revenue.

iHeart did a major firing in January well before COVID, another at the time of the virus and more nips and tucks – and 2020 is not even half over yet.

Under a plan being tested now, iHeart is going to force existing employees to take less while they continue to evaluate whose job will be on the chopping block next.

An area most vulnerable is sales where iHeart is testing radical new plans to cut compensation and at the same time set up some sellers for the next round of cutbacks.

All of this is likely to be rolled out systemwide in June with some unique exceptions in a handful of markets that would be tantamount to driving their best salespeople into the arms of competitors.

Read the full article now

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Entercom’s Ransacked Station Model

This company is in the worst pickle of its post-CBS life.

With an admitted 40% revenue loss in the coronavirus infected second quarter, they are trying to make continued losses look like growth.

They can’t cut expenses fast enough to make up the difference.

Entercom is going to eliminate unnecessary jobs, consolidate where they can and regionalize to save money.

The markets that will be affected the most will be ransacked – there’s really no other word for it.

We get a real look at what Entercom will be like after drastic and desperate cost cuts to stay afloat – in fact, they have already created the model ransacked version in one of its major markets.

Read the full article now

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Cumulus, iHeart & Entercom Takeover Interest

Just before Memorial Day, Cumulus became the third radio group in a month to swallow a so-called “poison pill” to protect them against a hostile takeover.

Entercom and iHeart preceded them as underperforming radio groups are suddenly in vogue with speculators.

What’s going on here – why the sudden interest? 

Out of the three, one would be like taking candy from a baby.

And it already may be too late for a second radio group fighting a takeover.

People familiar with such financial maneuvers tell us that all it would take in one case is a relatively small amount of cash and a very manageable loan -- better than they now have in place.

Worse yet, there are disruptive ramifications for employees if the company they are working for is stolen through a hostile takeover especially for those who have survived many rounds of layoffs and furloughs.

Read the full article now

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Spotify’s $100 Million Joe Rogan Podcasting Gamble

Yes, Spotify is paying Joe Rogan $100 million to offer his popular podcast exclusively on Spotify.

Does this mean that iHeart, Entercom and Cumulus are going to have to start paying podcasters to be exclusive to their platforms?

It turns out that what made Spotify open its wallet so wide has more to do with music than it does with the spoken word.

And that this could start a brutal war with Apple that could, believe it or not, have a negative impact on the radio industry’s rush into podcasting as the answer to their revenue problems.

Then there is the paid platform vs. free access that could change everything because if there is one thing experts are predicting for the post-COVID world is a diminished advertising industry and growing paid subscription model.

Is Joe Rogan to Spotify what Howard Stern was to Sirius Satellite Radio when it spent $500 million to sign him in 2004?

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COVID’s Impact on Sports Radio

Every sport heard on radio went silent due to COVID-19.

Anyone who thinks that when the teams return to empty stadiums and eventually fewer paying fans that radio will recover is living in an alternate reality.

Sports radio accounts for a lot of money and it is now in jeopardy.  There are going to be many changes in how radio broadcasts and markets sports.

Teams are preparing now to make new demands of their broadcast partners.

Listeners are learning new habits that don’t bode well for radio stations.

Competitors are popping up that didn’t previously exist.

And companies like iHeart, Beasley and Entercom have a lot at stake in a segment that they are struggling to understand -- companies.

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Advertiser Complaints Against iHeart, Entercom & Beasley

I get that radio lives in an alternate reality that it so laced in happy talk that they have ignored the signs of a declining industry long before COVID-19.

But a major market advertiser is so irked, they have complained to iHeart, Entercom & Beasley for sitting on their hands and helping themselves before helping their clients.

They’re outing a lazy radio industry that assumes that when all of this over, these must-have advertisers will simply return.

This will open some eyes because it gets specific about what radio stations need to do to win back essential advertisers.

And it’s the opposite of what most radio stations are doing.

Local advertisers are madder than hell and they’re now vocally threatening to take their ad money elsewhere – consider this a wakeup call.

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Cumulus Hiding Extent of Their Financial Woes

According to Mary Berner the cancellation of “March Madness” killed Cumulus last quarter.

But that’s only part of it – she left something really, really important out.

And something is not quite right about their layoffs – publicly you hear one story, privately a totally different one.

Their stock has gone from $4.60 to the $3.40 range meaning investors are not buying what they are hearing from Cumulus management.

What could be so bad that Cumulus feels it has to conceal the truth?

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Entercom Eyeing 500 More Layoffs

David Field was forced to show his cards late last week when he conducted the second quarter earnings call for financial analysts.

Anyone who subscribes to this publication knows the tricks used by radio CEOs to cover up lack of performance and attempts to inspire confidence in their lagging companies.

Although this time Entercom covered a lot of shortcomings but couldn’t hide the need for more massive layoffs.

Threadbare markets just lost key employees and now we are able to do the math to get a reasonable idea of how many and who will be next. 

Field promised stakeholders upwards of $110 million in cost synergies when he closed the CBS Radio deal – Entercom is way beyond that now and still climbing.

Now that we know Entercom’s previous cost savings from RIFs and plugging in radio revenue projections for the rest of this year, we get a clear picture of how the next round will look.

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Nielsen Accused of Extortion by Non-Subscribers

Things are tough for the radio industry right now but if you listen to non-subscribers, they are doing more to hurt stations right now than help.

It’s a monopoly of audience estimates some say based on outdated methodology and technology.

What’s worse is that Nielsen is being propped up by consolidated groups – the bankrupt type – who somehow find the millions to renew even as they are firing people.

Now their tactics are becoming public.

How they try to force non-subscribers into paying up and their flexible rate card that objectors say bends only in their direction.

With local radio facing a year or more of battling back to even, financially-troubled owners are beginning to rethink Nielsen.

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iHeart Not Planning to Rehire Furloughed Employees

77% of laid off workers think they will get their jobs back post-coronavirus.

That optimism does not apply to the radio industry where COVID-19 has been used as an excuse to “right-size” companies even as iHeart morphed from “dislocations” to furloughs.

Furloughs are temporary by definition but under a plan being developed by the “Evil Empire”, these interruptions in getting a paycheck will not see 77% of the workforce returning any time soon.

The question is just how many furloughed iHeart employees will be called back – they can’t let them all go, can they?

Employees look at COVID as a crisis, but iHeart and other radio groups see it as an opportunity and they have carefully thought out plans to proceed. 

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Advertisers Social Distancing from Radio

1010 WINS is reportedly down 60% this quarter and that was a $50 million a year radio station for Entercom.

The coronavirus is turning out to be a trigger for what was already in motion.

Radio ad revenue was declining because of digital prior to corona and now it is declining in spite of digital.

The revenue estimates for the third and fourth quarter are in and they are not what was expected.

Bob Pittman has been saying the reopening of America is an opportunity for radio to cash in on all that “welcome back” advertising – is this true?

There is new evidence about the impact of political advertising this fall – can radio take it to the bank?

And there are disturbing trends in listening habits from home – does that mean an earlier demise for in-car listening or a windfall when the country starts commuting again?

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iHeart, Entercom Fear Hostile Takeovers

This is the oddest thing when the #1 and #2 radio groups are struggling to survive but have to now worry about hostile takeovers.

It’s not speculation, it’s public with both having swallowed so-called “poison pills” to thwart interested private equity groups – iHeart as recently as late last week, Entercom a month earlier.

What’s worse is that other publicly-traded radio groups may have to take the same protective measures.

The stock price makes the value of radio companies so low even you and I could come up with the money.

Maybe that’s an exaggeration but it is surprising how little out of pocket cash would be necessary to steal radio’s biggest consolidators while they’re down and out.

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Bain Losing Control of iHeart

Liberty now reportedly owns 30-35% of iHeart debt and counting that can be turned into equity.

Even the poison pill iHeart swallowed after hours on Friday can’t kill John Malone’s ambitions.

This means it is just a matter of time before Bain, Pittman, Bressler and company lose the company to a shrewd media tycoon.

There will be a new strategy on layoffs and furloughs when Liberty gets control.

The markets that are most vulnerable to this takeover by a satellite radio company have no idea what is coming their way.

As iHeart top management protects itself, we get a preview of what iHeart will look like for the unprotected.

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Oliviero is the First of Many Entercom Shakeups

The much-maligned employees of CBS must be snickering to themselves as the panicked Entercom CEO David Field who made it clear he thought CBS people were overrated and overpaid, hired one back this week.

Chris Oliviero quit Entercom after only about six months into the new regime. 

He gave a long, more than 6-month notice but he and his CBS salary left.

Now Weezie Kramer gets pushed out (more about that in a moment), her replacement Susan Larkin somehow got her CBS-phobic boss to rehire one of the expendables begging the question – what’s up with that?

Turns out another surprise big management casualty is coming, a fear of losing the sports franchise that is critical to David Field’s plan and an indication that Entercom has to strike quickly before a declining economy kicks them into bankruptcy.

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Cox Media After Kim Guthrie

Kim Guthrie has been one of the outstanding top executives in the radio industry.

So, it came as no surprise that when Apollo Global Management bought Cox TV stations and eventually their sister radio stations, Guthrie was part of the deal.

Corporate headquarters remained in Atlanta and Guthrie’s team largely stayed in place.

Then, the first cutbacks – this was before Coronavirus. 

Guthrie doesn’t do cutbacks so this was a bad omen as we pointed out at the time.

Now, no Guthrie – no stability, no shared vision – just a bunch of private equity people who are out $3.1 billion for the Cox TV stations and subsequently $500 million for radio.

You better believe previously unimaginable changes are coming to Cox Media.

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The Post-Virus Future of the Music & Media Business

Almost everything in the media business is based on the advertising model remaining strong after COVID – but the most concerning change ahead is that advertising as we know it will not return to previous levels.

Streaming music services have seen declining listenership during self-isolation but did radio take advantage of this pause?  What has eaten into streaming music services threatens to further erode radio time spent listening.

You would think satellite radio would be dead as lockdowns have almost eliminate time in the car – and while it is true satellite has no significant alternative to in-car listening, it now has something else that terrestrial radio wishes it could possess.

There is no new normal – it’s all abnormal and the companies that can see around the coronavirus corner will enter a new period of prosperity.

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Massive Radio Salary Dumps Coming

The layoffs, firings and furloughs continue, but now the salary givebacks are ready to be deployed.

Salem implemented crushing salary cuts yesterday – a major blow to survivors.

Previously iHeart and Entercom either requested volunteers to work for less or forced them into giving back salary – especially those making $50,000 or more.

And Entercom of course has been dickering with employees since the CBS merger to nickel and dime them down to what David Field felt they should really be paid.

This time, the survivors will need to get ready for life support as we preview the pain iHeart, Entercom, Cumulus and other companies are ready to inflict on their “luck to have a job” survivors.

And, a bright note about the radio company that gave everyone a raise – that’s right, a small company yes, but a raise not a firing or cutback in the same coronavirus economy in which everyone else is punishing employees for their mistakes.

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Cumulus Fears a Seller Rebellion

One of radio’s most financially troubled companies is afraid that they will take significant losses of salespeople due to the downturn in advertising revenue.

Cumulus has taken some action to build a safety net for their better sellers to keep them from leaving out of financial necessity but they also are looking to jettison the dead weight.

Cumulus has been failing to generate adequate revenue to contribute to both operating expenses and pay down debt which is approximately $1 billion.

Westwood One has been hit by the loss of sports dollars with March Madness and the Olympics being cancelled while stations have seen double digit erosion of local ad dollars and more of a reliance on cheap remnant ads.

Tuesday April 28th Bob Walker, Dave Milner and an HR rep got on the phone with market managers for a confidential conference call about their future plans.

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