From day one of consolidation, radio groups became obsessed with the wrong thing -- saving money instead of making it.
Back then, group executives used to show me blueprints for local radio hubs that would allow all their newly acquired stations to operate under the same roof. Of course, this was false economy and an ego exercise for consolidators who eventually paid the price for taking their eyes off the prize.
Revenues began to decline. Listening fell off -- especially in the crucial next generation demographic and then lately the recession slammed the door.
In all that time, radio as an industry failed to come&hellip
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