Yep. They have to fool those investors. This name change is like a new coat of paint on a 1976 Ford Pinto. That was the car that used to burst into flames when the gas tank ruptured...
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Entercom To Rebrand as Audacy
- Thread starter AceBiscuits
- Start date
I still remember WIP Philly using “Metromedia radio in Philadelphia” leading into top of your newscasts
It was a company directive from John Kluge himself. WMMR was Metromedia Radio when they owned it.
Seems to me RKO General did the same thing with their radio stations.
I guess the branding worked 
Worthless? The stock is up 3% since the announcement.
The fact is that ALL radio company stocks are pretty weak. It doesn't matter who owns them.
Every radio company will tell you that on-air is not the growth part of their business. Investors want growth.
Sumner Redstone understood this. That's why he split off CBS from Viacom in 2006.
CBS, Viacom Formally Split
Now Traded Separately On Wall Street, Shares Of Two Companies Rise
www.cbsnews.com
It opened at $5.12 and is now at $5.08. It had a peak during the day, hitting $5.27 with intense trading, but settled back.
The peak in 2017 was $15.85, so it's all relative. They are off by 2/3 from way back when radio was their priority.
iHeart has some nationally famous talent, and has a syndication arm for talent. We know that NPR produces a lot of talent-based programming as well as some astoundingly good news and information shows. Much of that content is good for podcasts.
Name a "world famous" talent from any Entravision station.
And, since podcasts are pretty much precluded from containing music, that leaves Audity with just about nothing really powerful to put in podcasts.
Anything that dilutes a brand is wrong.
Proctor & Gamble does put its P&G on products, but very small on the back or bottom or wherever it's not prominent. But they don't name P&G in ads, don't feature it on labels. They are not just the regents of research, they pretty much invented consumer research 90 years ago.
If one studies branding... particularly in case studies of failed branding... confusion is as strong a reason for failure as a bad product itself.
First comes "the best way to get a bad product off the market is to advertise it".
Then there is "the best way to avoid selling a product is to send a confusing message".
And all those were done before perceptual research was done for radio. Having dealt with Kluge on a big radio project much later on, I can tell you that he changed much of his thinking as years went by and either consumer attitudes changed or he realized that some business practices had morphed.
In this particular case, Kluge spent about $250,000 to be told why he should not buy a group of radio networks in a stable, wealthy South American nation. He followed the research; the eventual buyer of the properties (along with others) went bankrupt.
Kluge passed away. Were he around, we would have gloated over spending $250 k and saving nearly $100 million.
Radio has pretty much become the modern college degree. You work a ton of hours and make little to no money. I'm sure in 10 years I'll make more money then David Fields running my heavy truck dealership. So much for my Bachelor's Degree.
As in before the pandemic. That probably had no effect on their stock price.
Which is why they bought some podcast companies with award winning talent:
3 Entercom Podcasts Nominated For Peabody Award
Entercom has announced that its Podcast Network, including Cadence13 and Pineapple Street Studios, received three prestigious 2019 Peabody A...
mediaconfidential.blogspot.com
If you study what these radio companies are doing is they're signing podcast talent that are not part of their on-air team. And then they take the successful podcasts and offer it for on-air talk stations. That's how Ben Shapiro and Don Bongino got signed.
Entercom was at $4.77 the last trading session of 2019. It is actually higher now. Between February and May of 2017, it lost a third of its value, and then hit a low of $3.12 in 2019, recovering a bit by year-end.
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Everybody is trying to consilidate podcast talent, and buying "names" that, in most cases, have numbers that are lower than the AQH of a mid-rated station in Detroit.Which is why they bought some podcast companies with award winning talent:
3 Entercom Podcasts Nominated For Peabody Award
Entercom has announced that its Podcast Network, including Cadence13 and Pineapple Street Studios, received three prestigious 2019 Peabody A...
If you study what these radio companies are doing is they're signing podcast talent that are not part of their on-air team. And then they take the successful podcasts and offer it for on-air talk stations. That's how Ben Shapiro and Don Bongino got signed.
Entercom bought some leftovers which, in my opinion, don't mesh with the core audiences of their radio stations.
This affects the GSP Market cluster of 7 stations: 93.3 The Planet, B93.7, The Block (96.3, 104.5, and 107.7), ESPN Upstate, Magic 98.9, Classic Rock 101.1, and 106.3 WORD.
Let me think...what happened that might have affected that in February of 2017? Hmmmm
You don't think $2 billion of new debt will affect stock price?
He may have changed his thinking, but he never changed the branding on his radio stations. And when he invested in the cellular business, he used his radio stations to sell phone contracts. It made him rich and he got rid of his broadcasting.
Not if the proposed acquisition is actually a good idea.
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