WISE had a fridge with Coke and Beer on the back hallway back in the early 1980's
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Mo Kelly show out at KFI
- Thread starter Jstnpspck
- Start date
Hey, KMET had a marijuana room (just off the music library) in the early 80s.
Different times.
Everything you said is accurate, but this is the key sentence. Without shareholders, the entire enterprise does not exist.
Furthermore, even if "the station makes a profit", the company as a whole is still saddled with debt and those "profits" must help to service that corporate debt before shareholders can receive any sort of return.
Ahhh, I can smell KMET even now!
I worked with a guy that got caught growing it on his tree farm back when they enforced the law. He was a dummy, back in the day everyone knows you grow in the National Forest about 10 miles from his house.
The reason iHeart took on $20 billion in debt was so they could go private and not have stockholders. See how well that worked out?
When they went bankrupt, they had no stockholders, and the entire enterprise still existed.
I believe Blaine was part of that deal. Most likely they got money. Everyone else??
All radio, nationally, is billing about 65% less than it did 20 years ago (inflation adjusted). If you lose two thirds of your revenue, you have to reduce expenses.
Cause? Obviously, the internet in general and smart phones and streaming alternatives specifically.
If you come up with an answer to the root cause, I'll campaign for the NAB to create an honorary Marconi Award for you next year.
The revenue is not OK. The whole industry is off, significantly. And costs have gone up, whether it be labor, office rentals, insurance, music licensing, utilities, equipment or whatever.
The Mays family and "Red" McCombs got out at the peak in post-consolidation prices and right before the 2008 recession. But the Mays group did not "go private"; they just sold and moved on. The new owners were private equity investors and the group of them were, in effect, "stockholders" in proportion to their investment. And most of those private equity investments were put in funds which were, and are, held by individual investors and even things like retirement funds.
They did have shareholders, each of the private equity firms holding a percentage... usually folded into funds that were sold to individual investors.
Depends. On operations, or EBITDA, they are profitable. When the "I" for "interest" kicks in, they don't make money.
We don't have figures to show whether it may be the smaller and medium markets where there is still viable local direct business that are producing the best BCF.
My point was the public couldn't buy Clear Channel stock anymore. It wasn't on the open market. That's what I meant by going private.
AFAIK Bain didn't just buy out Mays and McCombs, but all of the existing stockholders at the time. Here's how the story was reported by Reuters:
I think we can safely say that LA is helping to keep stations in other smaller markets on the air.
The very rich public could, through investment in the private equity offerings of the buyers of Clear Channel.
And Bain, Lee, et. al. became the sole shareholders, after which the purchase was divided among their private equity shareholders.
To some extent. But the LA stations have very high expenses, some of which, like Seacrest (who makes more than iHeart bills) are split with dozens of stations in the group. As I have said before, both with local clusters and national groups, we have to look at the combination effects, not individual stations.
Sure in the way Soros Management Fund bought into Audacy. It's still private. Same with Audacy.
As you know, we really can't look at individual stations, other than in the information we might see from BIA Kelsey. That's all I have with regards to iHeart LA.
Why local matters: Andy and the KTLA meteorologist have been discussing the big storm coming in later tonight. A year's worth of rain in the next two days. Keep nights local on KFI!
I nominate Mark Rauner as the next night host. Very funny, intelligent, mature, and a great voice. Second would be Mark Thompson.
I nominate Mark Rauner as the next night host. Very funny, intelligent, mature, and a great voice. Second would be Mark Thompson.
Keep in mind that KNX is local all night. Most radios I know of have a tuning function that allows you to dial another station.
But KFI offered an interesting conversation about it, with.details and facts you wouldn't hear in a news report. I honestly think KFI will keep nights local. Just hosted by someone being paid less.
Remember, LA is what is called "semi arid desert" so there are only a handful of rainy days all year. "It Never Rains in Southern California" is not just a song... it is a truth.
Are we forgetting to consider that, perhaps, there were other reasons why Mo Kelly is no longer on KFI?
Of course we'll know just how big a storm system this turned out to be when it's all said and done. The rainfall amount is projected to be the most in the last 40 years from a single storm system. Yikes!
Where I am, 20 miles east of Palm Springs, it was projected to rain heavily all day on Friday. It did not rain at all.
Where I am in North Central Phoenix, the initial prediction from weather.com (it's owned by IBM) was for rain to begin Thursday night and go through Friday. As Thursday's date got closer, however, that prediction moved back to Friday night and Saturday, and, by Thursday night, the prediction had changed to beginning this (Saturday) evening and moving through Sunday. While weatherpersons do not always get it right, especially from a distance of 14 days out, with the current technology, accuracy does increase the closer you get to the current date of record. In other words, it is wise to keep up-to-date with regard to weather forecasting. I have found it more accurate than not to do so.