Audacy Cuts

[Santa fe]

Now that Audacy is following in the footsteps of other over leveraged broadcast "giants" and threatened with delisting of their stock on the exchange, massive layoffs are their answer. It seems, so far, that their Cleveland properties have not yet been affected. Does anyone have any info on what is going on there? It doesn't seem logical that they would spare one of their smaller markets the national cuts they are making. Or is a significant sell-off of stations their next step? Great business plan. Don't these people ever learn?

 

[davideduardo]

Or is a significant sell-off of stations their next step? Great business plan. Don't these people ever learn?

Not likely. The current market value of the stations is less than the company debt, so the only possible answer is a refinance or bankruptcy based reorganization.

 

[Yabadabado1]

They're still advertising for help in Cleveland: part-time-events-coordinator, part time sports anchor for WKRK, part time on-air personality for WDOK, WNCX, WQAL and an account executive. Think if they're in that bad of a shape, they would be letting people go. Maybe they'd hire me if I said I'd work for boxes of Count Chocula and some McDonald's fries.

 

[Rusty Muck]

Not likely. The current market value of the stations is less than the company debt, so the only possible answer is a refinance or bankruptcy based reorganization.

Audacy got CBS Radio through a Reverse Morris Trust, the same type of transaction that sank Citadel when Disney dumped ABC Radio on their laps. (AT&T also did a RMT to rid itself of WarnerMedia, and that merged company is not in good shape at all.)

 

[MegaBlue]

What could Audacy make automated up here? Q104 and Star 102 seem like the only stations they could fill with syndicated talent in most dayparts (akin to how 96.5 KISS-FM was all automated except for Java Joel for awhile), since 98.5 WNCX is a legacy station that would cause an uproar if they blew it up and replaced with a national format and 92.3 The Fan is sports and we're a rabid audience when it comes to sports talk. Leave the morning shows local and fill in the rest with national/syndicated talent, and that could save a few dollars in the long run. Star 102 is pretty entrenched in the goings-on around town, though, between the bridal shows and the Christmas Connection at the IX Center, but that's mostly Jen & Tim from the morning show.

 

[vjm]

Local hosts/DJs on Audacy Cleveland stations:

WKRK 92.3 The Fan

6-10a - Ken Carman and Anthony Lima
10a-2p - Andy Baskin and Jeff Phelps
2-7p - Nick Wilson and Dustin Fox
7p-mid - Mike "Chico" Bormann

WNCX 98.5

6-10a - Tim "Slats" Guinane
10a-3p - Dominic "Nard" Nardella
3-7p - Paula Balish
7p-mid - Joe Czekaj

WDOK Star 102.1

6-10a - Tim Richards and Jen Toohey
10a-3p - Liz Campbell
3-7p - Glenn Anderson
7p-mid - Jim Hart

WQAL Q 104.1

6-10a - Bill Ryan and Morgan Wright
10a-3p - Chelsea Lyons
3-7p - Kelly McCann

Now on 92.3, the overnight hours are filled by CBS Sports Radio, and on the music stations, all the overnight (and in 104's case evening as well) slots just run on essentially "autopilot", simply playing music.

Who - if anyone - from that bunch appears vulnerable?

 

[lanceventa]

From what I was told, there were zero cuts this week in Cleveland as the cluster already runs fairly lean and profitable. There were a handful other Audacy markets where the layoffs have not taken place yet for other reasons, but at least as of Wednesday there were to be none in Cleveland at all.