WBT led the market in revenue for years, but has been declining and I’m sure Radio One attributed some of that to the slow death of AM. I believe the thinking was that they would get a better return ratings and revenue wise on FM.
News/Talk is also very expensive to operate, and if you think about it they’re paying for live and local talent during prime on WBT, WFNZ and WLNK. I’m certain that LNK is losing money, especially after the downgrade and I think it was nice of R1 to pay the talent until the sales close, because most owners would fire everybody and be in jukebox mode.
As someone who advertised with Radio One Charlotte both before and after they acquired WBT/WFNZ/WLNK, I can tell you that the urban stations have very much been placed on the back burner. They’re pushing the “mass market” stations a lot harder, and from talking to sales reps they felt like their options were more limited from an advertiser perspective being urban only. Their urban stations are syndicated 3/4 major dayparts, and the local midday talent is pulling double duty as APD/PD. Their investments show their priorities.
For a long time, Urban One received 75 to 80% of their radio revenue from 4 markets (Houston, Atlanta, DC and Baltimore). They significantly enhanced their financial position when they diversified in Charlotte, Houston and Indianapolis, and now Charlotte and Indianapolis are both top 5 revenue markets for them, and Houston is a runaway #1. The diversification is working, and I don’t see them going back to the Radio One under Jay Stevens.