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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Report Newstips here (even the KGB doesn’t know where we get our tips).

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

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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. 

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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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Scroll through the complete list of previous stories here

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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.

Read the full article here

Try a few FREE SAMPLES here

Previous Stories here

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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.

Read the full article here

Try a few FREE SAMPLES here

Previous Stories here

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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.

Read the full article here

Try a few FREE SAMPLES here

Previous Stories here

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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.

Read the full article here

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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.

Contact me here   

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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.

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Newstips

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.

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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

Newstips

Previous Stories

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.

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Newstips

Previous Stories

Where’s Warshaw Now?

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  • Where is Jeff Warshaw weeks after his failed takeover attempt of Cumulus – player or tire kicker?
  • What I think is going to happen next.
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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.

Read the full article here

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

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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

Talk to Jerry confidentially

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

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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