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1. Why Cumulus is willing to shoot its billing in the foot to save a salary.
2. How the manager who exceeded Mary Berner’s expectations with the number one billing in the market wound up “re-tirefired”.
3. Who the cheap frontrunner replacement reportedly being considered is and why employees derogatorily refer to him as “pee pants” reportedly because he’s so nervous.
4. “Panic at the Frisco” – More intrigue in the Bay Area.
5. How Berner intends to implement the Entercom (Bain) school of management.

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Tuesday 11 Hubbard firings in Chicago.

Yesterday another 11 in St. Louis.

Hear me out.

If Hubbard put out a news release that they had hired 22 MORE people instead of firing them, it would be seen as a positive sign of growth and stability.

To not see the mass firing of employees before the holidays can easily be seen for what it is.

Desperation.

But Hubbard is not alone.

New intelligence that I will share with you this morning indicates that radio groups are giving up on the concept of live and local and although they’ve been chipping away at it for years, something major has happened now to accelerate the process.

Read more >>

• The last Baby Boomer has moved past the 25-54 demographic so why are there so many stations doubling down on efforts to reach them?
• Demographers reveal radio’s new target audience — one that is worth pursuing for a long time to come.
• A warning about programming to Millennials and why radio can’t program to an entire generation.
• Why this new “sweet spot” for radio could give birth to 6 or more innovative new formats that can drive new listening for the first time.
• Surprising revelations about alt-rock and The Breeze (flanker adult contemporary format) — do they hit radio’s new desired demographic target?

Read more >>

iHeart is being pillaged even before it exits bankruptcy.

This is the story of Bob Pittman and 100 junior executives running off with the spoils to the tune of $82 million or more in future bonuses (not counting what was already awarded).

Publicly, Pittman is acquiring companies as if when iHeart emerges from bankruptcy current ownership will be around to manage the whole thing.

Privately, Pittman is planning an exit and the company is going to be sold but the real damage will be to the radio industry that remains.

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I get that things are bad in radio right now.

Employees treated like they are less than human while their bosses get all the benefits and respect that, by their performance, they don’t earn.

We get a lot of reports about mistreatment, toxic workplaces and abuse of power.

But the one you’ll read today is as bad as it gets and it’s from Entercom.

This harrowing treatment may be the new normal for today’s radio industry.

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            iHeart’s Secret Buyer

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            iHeart’s Secret Buyer

            $45 Million in Entercom Cutbacks Coming

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            Dickey to Strike In 3 Weeks

            iHeart’s Secret Buyer

            $45 Million in Entercom Cutbacks Coming

            The Alpha Bankruptcy

            Why Investors Keep Buying Entercom

            Apple/iHeart Investment Rumors

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            Apple/iHeart Investment Rumors

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• What Lew Dickey’s new company is buying and you can take this to the bank.
• The part Cumulus plays in all this
• This is Lew’s first acquisition – what comes second?

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Summary

• Revenue down 4% again, stock tanks to $6.85 – how CBS employees will pay with their jobs.
• The only things that are working at Entercom were started by CBS – here’s the proof.
• There is already a three-stage plan to start the cost savings – how it is spread out and when.
• Things are so bad Entercom threatens to double down on the $110 million in cost synergies already promised.

Read more

It appears that Alpha is headed for the junk heap.

Larry Wilson is out – his plan to grow a live and local radio company ran into the reality that he could never take Alpha public with a market increasingly disinterested in radio.

Yet there is a fascinating set of circumstances that could augur an outcome where the leading lender and the company employees could emerge better off than their founder. 

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Become a NEW subscriber and begin with The Alpha Bankruptcy here. 

And read these full articles …

            Why Investors Keep Buying Entercom

            Apple/iHeart Rumors

            Fired Market Manager Sues Cumulus

            Sexual Harassment Allegations At Entercom

            Entercom’s Operational Problems

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            Apple/iHeart Rumors

            Fired Market Manager Sues Cumulus

            Sexual Harassment Allegations At Entercom

            Entercom’s Operational Problems

            The Coming SiriusXM Meltdown

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