On August 1, 2016 Mary Berner called trusted Lew Dickey loyalist and EVP Gary Pizzati into her office and asked him point blank “How do you want to go out?”
He had a three-year $1.5 million no cut contract and asked for a lump sum and contract termination.
Berner refused instead opting to honor the deal to keep him from rejoining Dickey so she benched Pizzati until the end of 2017 when he left.
Then Pizzati’s non-solicit kicked in which prevents him from hiring Cumulus employees during that period.
Now it’s payback time.
Read the full article now.
- Everything is for sale in radio. So where are the buyers?
- The reason John Malone has to have iHeart. It's not for the radio
- Why Wall Street is hating on Beasley
- Lew Dickey's new company has a change of plans
- Liberty wants to add 2 more media mergers to the iHeart takeover
- CEOs publicly talk up radio’s future but secretly look to diversify
- Are any radio groups safe? These 3 are bullet proof
- Entercom really is in trouble and, yes, David Field could even lose the company
- Cumulus is now onboarding new people to fire a large number of existing employees
- While Cumulus was pivoting to digital, Westwood One just got hit with major defections