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CC SHAKEUP?

Z

zell

Guest
Hate to distract the curious on the board that are worrying about the fortunes of various low power AM stations, but is anyone interested in the "management restructuring" that's in the works with Clear Channel on a corporate level? According to reports on R&R and other sources, sometime today, I believe, there are some regional VP's that will be lowered to market manager assignments of multiple markets. In other words, there might be some CC Managers out of jobs. Any of ya'll CC stations GM's waiting by the phone this morning? Scary stuff.
 
I'll bring this back up since the CC "restructuring" has started in Mississippi, with the Meridian cluster now taken over by the Jackson management. Who's next?
 
SoreThroat said:
I'll bring this back up since the CC "restructuring" has started in Mississippi, with the Meridian cluster now taken over by the Jackson management. Who's next?
Click to expand...

What will that mean for day to day operations in Meridian? Haven't heard of anybody losing their job in Meridian at cc. Anybody else heard anything?
 
Not big on posting links, but saw something today on Radio&Records Inc's website. There was a blurb about Jackson/Meridian on it yesterday, I think.
 
from what I understand, as BTO said, you ain't seen nothing yet..

here's what the word I get is.... all CC stations with less than 1mil in BCF- that aren't strategic markets (like Panama City, where John Hogan owns a house) are out of the nest... unless they combine the management/operations with another close by market... for example, Meridian to Jackson- maybe Tupelo to Memphis....

other markets will be spun off.... just doesn't make sense for CC (or Cumulus or Citadel) to be in some of these markets...

if you are interested in getting in to the ownership side, starting collecting cans or something, cause there willl be some stations for sale...

that's just what I hear, but what do I know.... I grew up in Newton.
 
Look at the things they have already done....

They spun off their Fargo, ND cluster three weeks ago to Ingstad Broadcasting (a locally owned company)

The spun off their Alexandria, LA cluster two months ago to Cenla Broadcasting (a locally owned company)

They spun off Jackson, TN to Forever Broadcasting (a company with an unusual obssession with Frogs)

They sold Rapid City, SD to Triad Broadcasting....

The smaller markets are going to come up for sale. If you have either won the lottery or have a rich uncle or a sugar mama with three or four million to spare, this might be the time to get in good with a well established broker and approach Clear Channel about the Tupelos and the Meridians and the Laurel/Hattiesburgs of the world (of course that is once that CC is done moving signals out of the market into places like New Orleans).

I am circling my rich relatives like a vulture, and just waiting!!!!
 
My understanding is that CC is spining off the smaller markets to fund the new equipment for digital radio. Smaller markets like Jackson, TN that were huge money makers are let go and the money is used to buy Memphis all their new studios and digital transmitters. So yep, our country station went from Eagle under the CC flag, to Froggy under our new owners Forever. Same format, different logo! ;)
 
taking net asset sales proceeds and spending them on capital items not sound business practice for company with the value of clear channel. should retire shortterm debt make shareholders happy instead.
 
I'm not sure what kind of debt CC has. My impression was they pretty much paid cash for most of what they held! I could be wrong about that, but I know it's the only company I've ever worked for that was SELF insured! They had THAT much capital! So with the spin off's they're just moving money from one investment to another that they're betting will pay higher dividends to investors. HD radio is what they think will make them a lot more money than small markets. By the way I miss typed when I said "Small markets like Jackson, TN that were huge money makers" That should have read "Small markets like Jackson, TN that were NOT huge money makers". Sorry about that.
 
I THINK LOT OF FOLKS DONT LIKE CCU BECAUSE ITS A BIG COMPANY WITH BULLSEYE ON IT BACK. OTHERWISE,VERY WELL RUN BUSINESS HAS DEBT BUT RATIO IS VERY GOOD AND A LOT OF EQUITY. NOT LIKE SOME OF THESE OTHERS SLICK OPERATORS THAT LIVES BEHIND EBITDA BULL SMOKE AND MIRRORS CRAP. WHAT I MENT TO SAY WAS THEY ARE LOOKING FOR HIGHER MARGIN THAT YOU CAN ONLY GET IN BIG TOP TEN CITY. JACKSON TENNESSEE WTJS WAS MONEY PRINTING MACHINE 25 YEARS AGO WITH NEWSPAPER TOO. 50% OF MILLION DOLARS BETTER THAN 50% OF 100,000 THATS WHAT THEY WANT, AND THAY WILL GET IT.
 
Happened in Alabama and nationwide, too, this past Tuesday (10/31). I'm a victim of the Tuscaloosa/Birmingham merger, elminating OM position. I was told the more you do, the better off you are. I was also PD of 2 of the 4 Tusc. stations, but got dumped anyway. Inside talk is up 700 stations may be dumped after the Mays boys in Texas choose a holding company to do the dirty work.

I've been canned before, but never in such a crude manner. I've never been locked out and my stuff mailed to me. And the severance was about as little as I ever recieved. I understand how it works these days, but it was low class and uncalled for. As an excuse, they started circulating a story that someone in "Florida" had a gun in their breifcase. The story morphed to Atlanta, Birmingham, and "somewhere up north."

I was finally talked into joining CC 3 years ago, and it was quite a bumpy ride, with too many bosses and me caught in the mddle. On the ground level, though, my RVPP, Doug Hamand, taught me more than I could imagine in Selector. But way too many spreadsheets and reports to do. One is called "trust but verify," which means we don't really trust you.

The latest move got the local Tusc. GM, too, but she was offered DOS job, while the B-ham GM and OM took over.

Before that, I worked for Cumulus and it was a different experience. Seemed like if you just made the weekly conf. call, you became invisible. VP's wouldn't return calls, etc... But,. you know what? It was great! I got to run a Classic Rock station, answered only to the local GM...and we made radio history! Like the old days.

By the way...anyone know where a veteran PD can land? :~)
 
Looks like the ole CC boys are skinning it back,if you get the drift.operate on the cheap, bare expenses ,and unload the bastards for bigger pastures, WITH TOTAL DISREGARD for who gets fired or shafted.Just the worse CO. on the planet.But i warned all of you about the pitfalls of consolidation years ago and the chickens are coming home to roost.Also for the record cumulus is up to the same classless antics as well.boy ain't broadcasting fun these days????????
 
Take the advice of an old man and get out while you can. Get a broker license, sell land and collect the commission then retire while you can enjoy life. Get your radio showbusiness complex satified by owning and playing with stock, but not too much. you won't live pay check to paycheck like I did in radfio. No one is safe in that business anymore and too much pressure not a good way to get old and wear you out befor eyour time. made more money in 8 years after i got out of radio than whole time in the business 45 years no less. Get out of comfort zone work as hard in good business produce 4 times as much money as radio. I am glad about lbo of ccu but wish they had shed more of the nonperforming or marginal markets but it will be ok i think. Too many loose their job in radio but in radio, loosing a job is normal but does not look good to other businesss because they dont understand it is normal business in radio. good luck.
 
I have to agree with this post...if you are not in ownership, it's time to consider other options...even owners need to be careful.
With all the new technologies, staying in the business will be expensive for owners, and increasing risky for employees.
What will happen when the hundreds of stations owned by the mega operators are put on the market?
There will be a major depression in prices for small operators, and many unwary wantabe's will be caught up in "owning my own station" and, to their dismay, may pay too much for a station that has been discarded by the "big boys".
Haven't we veterans know for a long time that an organization cannot effectively operate 1,000 radio stations? It is had enough
to manage a small group with on site management...ask any small group operator and he will verify this. (read "had " as "bad".)
 
Anybody hear anything about the Biloxi Market? I heard that they are doing so well that they are going to keep it at least for a while.
 
Russ L.
I feel for you. I was laid off from CC Tupelo last week. I have to say I was treated with a lot more dignity. I have no problems with the folks at CC Tupelo. There are a lot of good employees with CC that have lost jobs in the past couple of weeks. I am sure there are a bunch more coming! Let's hope that whoever buys each market decides to bring these people back in!

Good luck to all out of work right now.
 
Thanks for the kind words....and advice. Getting out has been a topic every time this has happened. My problem is, I've been in radio since age 15 and have developed no other skills. That's 33 years of on-air and PD work. Even a great ratings track record. Shoot, until comsolidation and programming multiple stations, I never had a station not be number one, from Texas to Florida. But it counts for crap when all is said and done.

roadkillbill, I've swapped emails and phone calls with Paul Stone since I've been in Tusc, did he make the cuts? By the way, I detoured into management for a xouple of years back in '89, and was the first GM of WWZD.
 
Good to know. I only met Paul once, when I was PD of WSMS out of Columbus. Ran into him at the Def Leppard show in '02 before I came back over here. He hit me up over the last 3 years for a vt gig.

We lost 3, besides me, the Prod. Director and his assistant. Talk is all production will now be managed out of B-ham.

All that's left running 4 stations are 2 pd's, 1 each promotion and news director. Talk about skeleton staff.

Interesting to note not a single sales rep was touched...except for the GM, who was offered the DOS job, which didn't exist before. Where's the savngs on that?
 
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