• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Any layoffs at Cheap Channel Poughkeepsie yesterday?

O

oldies4ever

I see where Cheap Channel has delivered its usual pre Christmas Basket of Cheer, layoffs, many on the west coast but some in Phlly...any casualties here in the Poughkeepsie Cluster?? Since CC is in debt up to their eyeballs, this may mean selling off some of the stations to small businesses....stay tuned....


oldies4ever
 
Most of the northeast escaped the corporate cuts, however expect a few positions to be eliminated in the next few weeks on a local level as the individual clusters shift money around to meet their 2013 budgets. For example, If they want a new sales manager, they have to eliminate one or two programming positions to free up the money. With tower rent going up, arbitron fees going up, fees for syndicated shows increasing, raises due to contract employees, utility bills going up, everyone will need to cut something even if they don't want to add a body in the building.
 
oldies4ever said:
I see where Cheap Channel has delivered its usual pre Christmas Basket of Cheer, layoffs, many on the west coast but some in Phlly...any casualties here in the Poughkeepsie Cluster?? Since CC is in debt up to their eyeballs, this may mean selling off some of the stations to small businesses....stay tuned....


oldies4ever
Click to expand...

Selling off some stations to pay down their debit is the best thing Clear Channel could do. The company is way overleveraged and is squeezing the stations tighter each year to make the payments. CC does not have the cash flow to make loan payments, Pay the executives their big salaries and run the stations properly. They have a huge payment due I think in 2016 that may exceed the net worth of the company. What they are doing is simply ruining and depleting the value of the stations. They should sell some stations now, and take some of the pressure off instead of having a fire sale later. This topic hits home for me, although not in broadcasting the company I used to work for did the same thing, until the cash ran out, with big payments looming, and they were forced to liquidate.
 
They can sell stations, but it won't pay down the debt. The purchase price for most, if not all of the radio station in anyone's portfolio were purchased for higher prices than they could be sold for today. None of the biggies could hope to sell their way out of debt. Their only hope to survive is to stay big so the bank doesn't let them go under and lose their shirts. Sort of like a "Too Big to Fail" scenario.
 
CC has an option to sell at their stations at high prices. Religious groups are waiting in-line for frequencies in every market. These groups have sacks of cash and pay no taxes. In my market the latest plays for purchase by these bible beaters are community radio stations.
 
Re: Any layoffs at Cheap Channel Albany/Poughkeepsie yesterday?

I hear that there was an XMassacre at TSM earlier this week which affected a number of employees...but the details are kind of sketchy...Happy holidays from TSM!!!!!


Bug said:
Any in Albany area? Any at Abc or Tsm?
Click to expand...
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom