Clear Channel Bombshell Revealed

I’ve got a quote from CEO Bob Pittman that tells you everything you need to know about his plans for Clear Channel.

That’s the public part.

Privately, he and his former Time Warner team are working on a massive Clear Channel shakeup the likes of which has never been seen before.

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  1. How Clear Channel plans to make $20 billion in debt disappear – yes, there is a plan.
  2. The two-part dismantling of Clear Channel radio group.
  3. The coming move to further eliminate personnel.
  4. How Clear Channel will run its radio group like two separate companies.
  5. And the biggest question!  When.

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Huge Rolling Layoffs Hit Clear Channel

Massive nationwide rolling layoffs began Friday.

8 careers were ended in one major market alone – 6 fired on the spot, two "resigned" – one just got out of the hospital, returned to work one day and was fired by these heartless bastards the very next day.

Now more firings expected in other cities as Clear Channel CEO Bob Pittman becomes unhinged.

Layoffs are not over, they’re back bigger than ever at Clear Channel.

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  1. What made Pittman snap.
  2. The revised and projected layoff schedule from now until the end of the year.
  3. Why Pittman is apparently not stopping at 4 firings per market – the number he asked his board of directors to authorize.
  4. The firing pattern and the markets that are still off-limits from increased layoffs.
  5. And most importantly!  How Clear Channel is deciding who stays and who goes.

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Brutal Format Changes Coming To Cumulus

Cumulus top 10 markets are now back on code-red.

Low ratings, low revenue – they are firing sales managers in frustration.

More heads are going to roll soon – they’re running out of time.

And format changes are coming that will blow up major stations in an effort to cut costs otherwise

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  1. The last insult to the talk radio format.
  2. How their most vulnerable major market station is this far from being eviscerated due to bad decisions and poor management.
  3. How Cumulus plans on handling AM stations from now on.
  4. Their 2 “go-to” formats of the future.
  5. 3 Cumulus moves you can bet on in the coming months.

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What Went Wrong Between Randy & CBS Radio

CBS Radio was this close to buying Merlin’s Philly FM as the new FM home for KYW Newsradio.

Then something went very wrong.

Publicly it looks like CBS was outbid, but the real story that you’re about to read is down, dirty and should serve as a warning to good broadcasters trying to operate in a venture capital world.

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  1. What pissed Merlin’s Randy Michaels off so much that he played with CBS over the sale of his Philly FM for years and then surprised everyone by selling it to someone else for about the same offer price.
  2. The reason Michaels held out and then screwed CBS out of the station they badly needed.
  3. Why CBS said “no more” to what some would call extortion.
  4. The deal breaker after over a year of negotiating.
  5. How the potential looming merger of CBS Radio with Cumulus ended up being a factor.

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Jeff Bezos’ Washington Toast

Another fool thinks he can turn around a traditional media company in the digital age.

Jeff Bezos buys The Washington Post.

His qualifications:  he has the money in his personal account.

Warning:  now is the time to study the fools who think traditional media (radio, network television, newspapers, magazines) have a future in the digital space.

They don’t.  Sorry.

This is what you should bet on.

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  1. The reason traditional media cannot survive as a digital business and what can with a few strategic changes.
  2. The one question that must be answered before radio, TV or newspapers makes a move in the digital world.
  3. What would “He” have done?  I’m talking about Steve Jobs here.
  4. Why advertisers are the enemy.
  5. And the best advice you could ever get -- about building a media business with rapid revenue growth and the terminal mistakes to avoid.

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