As one former CBS employee tells it, David Field was jonesing to cut programming expenses even before Entercom officially completed the merger.
What’s public is that even back then when the economy was still booming, Field reportedly wanted to know if certain people employed by CBS were really necessary and could they be eliminated.
Field reportedly felt that CBS paid their people too much and that many were expendable and the ones that weren’t could work for a lot less.
Now evidence is mounting that Entercom’s aggressive cost-cutting is killing the company’s ratings and negatively affecting their declining revenue.
Number one stations have lost over half of their ratings with huge revenue declines.
College stations are ranking higher than their biggest brands in two of their top markets.
And then COVID handed Entercom all-news stations a gift and they gave it right back as their cost cuts are now documented to hurt more than help.
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