I think the answer is always the same.... "follow the money". As a media buyer, I see the first half of the coming year in relative freefall, and sellers scrambling to make whatever deals they can with the fewer avaiable ad dollars out there. Radio, whether you like it or not, falls underneath TV and now also has to compete with on-line dollars. Newspapers will be scrambling even more and any radio groups that have newspaper groups in their same ownership fold will feel it even more since the metrics of that business will be even worse. Cost cutting on every level will be explored, things like stations own ad budgets will be squeezed, as will every support element like traffic people, sales assistants, etc. Good people will continue to leave, some to return at a future time, others to start their own ad agencies (good luck with this one), others to move to other industries. The only good news will be that rates will drop so if there is a 25% budget reduction by a client, and a 25% reduction in the price of airtime, the client can still maintain a reasonable voice for when things do turn. I predict that many of the on-line intiatives of stations will be slowed down or put on hold, even though it is a growing segment, it is still a small piece of the pie. The second half of the year perhaps holds some glimmer of a recovery, some belieive the worst is yet to come, others (like me) think we are not "bouncing along the bottom". So it's all about "when" the recovery can get any traction, there are pieces of the economy falling into place, but it will take time. I think ESPN710 will become a reasonably big factor, considering the general vaccuum of the year, it will be something to watch, and also the effect on KOMO AM, and there is the KBKS changes, and other possible sales/transfers, most of which may involve putting more good people on the street. But the bottom line is, radio will emerge, and like smart advertisers, those properties that have the resources and committment to "stay the course' will be the biggest winners, those that cut and cut, the ultimately losers. There are just too many other places an advertiser can go put their dollars, radio has to maintain value to their customers and listeners.