Lew Dickey’s Replacement Is In the House

INSIDE …

  • The surprising front-runner to replace Lew Dickey.
  • If this guy gets the gig (and it’s a guy), save the celebration. And I’m hearing it’s not John Hogan.
  • Then what happens to his brother John and the lackeys he has hired.
  • Sources report the end should come soon.
  • Which influential people did Lew Dickey cross to lose goodwill on Wall Street at the worst time – some of whom actually are said to have badmouthed him.
  • How Jeff Marcus is likely to handle Lew’s embarrassing demise.

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New Evidence the Vultures Are Circling Cumulus

INSIDE …

  • No sooner than majority owner Jeff Marcus leaves San Francisco, these people arrive.
  • And other markets will reportedly get the same treatment – how many?
  • How Cumulus seems to be doubling down on making even deeper cuts.
  • Suspiciously Cumulus is trying to clean up old business – some years old to tidy things up ahead of a bankruptcy. The specifics.
  • What a pre-pack bankruptcy would mean to equity holders, banks, bondholders and employees.
  • How analysts can in clear conscience give a “buy” or “outperform” rating to a company this sketchy.

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Westwood Threatening To Sue Affiliates Who Drop Them

INSIDE …

  • The unthinkable thing that happened when one affiliate told Westwood it wanted to stop running their programming.
  • How Westwood bullied the owners and backed down – but at this price.
  • How badly Westwood format affiliates want out of their contracts – the things they are willing to do to get as far away from them as possible.
  • The ransom Westwood attorneys are demanding to stop format affiliates from all leaving at once.
  • The catastrophic effect on Westwood One if even this number of format affiliates bolt.
  • How bad things are getting now at Westwood’s format division in the words of one who was burned.
  • Now we know how Cumulus got local talent to replace fired Westwood talent.       Clue: it was not the $5,000 a year “bonus”. Worse.

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Cumulus Consulting Bankruptcy Advisors

INSIDE …

  • The name of the firm Cumulus has reportedly hired to deal with a potential Cumulus bankruptcy – we’re naming names here.
  • The new Cumulus board member who has hardnosed experience in bankrupting companies.
  • When?
  • The kind of bankruptcy that is likely.
  • Three scary things that will happen should Cumulus file.
  • Is there anything that can prevent bankruptcy?

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iHeart’s Brutal End-of-Year Cutbacks

INSIDE …

  • How bad is it – really.
  • What is expected to increase by 3 to 5 times current levels putting iHeart in survival mode.
  • Who gets cut back – I’ll tell you this, it is the usual victims but in a way iHeart has never done before.
  • iHeart’s No Manager Left Behind program – details.
  • But, what’s on the air will change drastically.  The time periods iHeart is targeting.
  • Why iHeart keeps cutting expenses when even if they fired everyone but Bob Pittman they couldn’t pay down their debt enough to survive.
  • Wall Street venture firms don’t expect iHeart to make it – here’s when they think iHeart has a date with a bankruptcy judge.

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