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Scotty Lindy back to Atlanta. Guess where!

Scott Lindy is coming back to Atlanta after a short stint in Indianapolis. Lindy, former PD at the Bull and Star, will now be PD at Cumulus station Kicks 101.5. Greg Frey moves up for a newly named corporate PD position overseeing all of Cumulus radio stations. (This is Rodney Ho from the AJC, by the way. I was having issues getting in with my old username and password so I just created a new one.)

Here's the press release:
ATLANTA, GA, October 1, 2015— Cumulus Media announces that Stephen Giuttari has joined the company as Program Director for Country station WFMS 95.5 in Indianapolis, replacing Scott Lindy, who moves to Atlanta as Program Director for Country-formatted WKHX-FM (KICKS 101.5) and as Corporate Program Director for Cumulus. Greg Frey moves from his WKHX Program Director position to Cumulus Corporate, where, as newly named Corporate Program Director, he will focus on Cumulus’ portfolio of Country stations and growing Country product line. Giuttari comes to Cumulus from Townsquare Albany, where he was Country Format Leader and Brand Manager for WGNA.
"This move recognizes Scott's multiple-platform experience. We are excited to bring him to Atlanta as a Corporate PD and PD of a personality-oriented station like WKHX. Steve Giuttari is a bright programmer whose level of success and maturity made him the perfect choice to lead a heritage station like WFMS." He added: “Greg has done a great job with WKHX. His focus, as a Corporate PD, now becomes one of building our Country platforms and working to improve our various products.”
Dave Crowl, Regional Vice President/Market Manager, Cumulus Cincinnati said: “We are excited to welcome Steve and his winning track record to the WFMS/Indianapolis team.”
Giuttari said: "I am honored to be joining a company that truly understands how to connect with the listener in so many ways, and I thank Mike McVay and Dave Crowl for this incredible opportunity. I am very much looking forward to working with the great staff at the legendary WFMS in Indianapolis."
Lindy said: “It’s rare to be given a chance to lead a team as dedicated as the group of professionals at the legendary 95.5 WFMS. Saying that I will miss working with everyone at WFMS is a vast understatement, only offset by knowing that I can continue to be a resource for them and that they will be working with an extremely talented programmer, Steve Giuttari. My gratitude goes out to Mike McVay for the opportunity to return to Atlanta as a Corporate Program Director and as PD of the award-winning KICKS 101.5.”
 
Kicks will be the third Atlanta station that Scott has programmed. The first was The Bull, then Star 94 and now Kicks. Is that a record?

Scott's a good guy and good programmer. I'm glad he's back.
 
The other site state's that is a result of the "restructuring of Cumulus post-Dickey" . Did I miss some kind of major news about Cumulus?
 
Of course, unlike if we got fired, Lew walked away with $4.35 million and John a mere $1.75 million.

In other words, they got a year's pay as severance. They are going to be taxed at earned income rates, so it comes down to about $2.5 million and $950 k net. Which means they had lousy contracts with no golden parachute.

They have both lost more than that on their purchases of Cumulus stock, and their options are underwater.

In other words, they could not even get fired well.
 


In other words, they got a year's pay as severance. They are going to be taxed at earned income rates, so it comes down to about $2.5 million and $950 k net. Which means they had lousy contracts with no golden parachute.

They have both lost more than that on their purchases of Cumulus stock, and their options are underwater.

In other words, they could not even get fired well.

IIRC from a tax point of view, If they sell their shares at a loss that could "cover" the severance tax issue and get addition funds from the sales if the stock was purchased with their own money.* I assume they have the intelligence to have or obtain good legal / tax advise. With Chapter 11 a forgone conclusion the stock will be worthless anyway. 80 cents a share is better than nothing.

* I am not a lawyer or CPA and this is not meant to be "advise". There is one across the hall from my office but he is on vacation.
 
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