David Field was forced to show his cards late last week when he conducted the second quarter earnings call for financial analysts.
Anyone who subscribes to this publication knows the tricks used by radio CEOs to cover up lack of performance and attempts to inspire confidence in their lagging companies.
Although this time Entercom covered a lot of shortcomings but couldn’t hide the need for more massive layoffs.
Threadbare markets just lost key employees and now we are able to do the math to get a reasonable idea of how many and who will be next.
Field promised stakeholders upwards of $110 million in cost synergies when he closed the CBS Radio deal – Entercom is way beyond that now and still climbing.
Now that we know Entercom’s previous cost savings from RIFs and plugging in radio revenue projections for the rest of this year, we get a clear picture of how the next round will look.
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