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CEO Farid Suleman, says things are going to change. And change fast

S

Skynet74

I know on this board we tend to speculate and go crazy with rumors. But when a CEO speaks out in his own words and says Things are going to change. And change fast .........

Well...... that kind of talk has just got to make any Citadel employee a bit nervous. The Boards Nationwide are going crazy. They just fired 5 people at one Citadel station. I saw a 22 year veteran who was let go at another.

You don't have to take my word for it. Read the trades. It's being called the Leap Year Massacre
 
Citadel is probably in the most dire situation of any major radio ownership group right now. People talk about how bad a shape Clear Channel is right now. But Clear Channel is just very cheap and is looking to trim the fat (and then some) to make this deal with Bain Capital happen. Clear Channel isn't dumb, and they know they need to flee this business, the faster the better.

Citadel on the other hand has some very serious financial issues. They bit off way more than they can chew and it's going to take a very very long time to climb out of this hole. Even worse, it's happening at a time where listeners are finding more and more alternative sources of media consumption, further eroding overall radio listenership. Not good.

Anyone find it mildly amusing how Citadel blamed the weakness of ABC radio? Well, hello!? Then why did you sign on the dotted line and aquire ABC?

I'm very nervous if I work full time for one of the big radio corporations. This year is turning out to be a bloodbath so far. Has a week passed this year where a Clear Channel cluster hasn't gotten hit?

However, I will say that if you work for Emmis, you have nothing to worry about... for now. If there was ever a right way to lay off employees, Emmis figured it out. They did a very smart thing a month or so ago by making it very clear to their work force that the round of lay offs they had would be the only time all year they were cutting personnel. Think about that. So (considering that they're telling the truth) if you work for Emmis, you still have a job until at least next January. Nobody over there has to live in fear of being handed a pink slip. Consequently, morale doesn't suffer, and the end result is that the overall product doesn't suffer either. How well could you do your job if you were uncertain that you'd be allowed back into the building the following week?
 
When I first started in Radio I wanted to work for one of the big corporations one day. It was part of my dream to secure employment at a network owned station. Afterall wern't those the ones with the great pay, the most perks and the best job security? This is no longer the case. Now it almost appears you are better off staying in a tiny little market at a locally owned station. The pay may not be great, but from what I have seen there is definitely more job security at small family run stations. Not many of those left. But I guess there are still a few.

This is why I have a love/hate relationship with Radio. It can be such a fun rewarding career. But at the same time your job could be history tomorrow. There is no such thing as job security in radio anymore. It's really very sad. I've never been fired by a radio or TV station since I always chose to leave on my own first. But I'm confident that if I stuck around long enough I would have got the Axe somewhere.
 
Never rely on job security in any line of work. Your only security is your ability to go out kill something and drag it home. Period.
 
jeffryan said:
Never rely on job security in any line of work. Your only security is your ability to go out kill something and drag it home. Period.
Click to expand...
I totally agree. If you want any kind of long term stability, get out of radio, as a full time way of making your living. This is, of course, provided that you're not 50 years old, and have never done anything else.
I know that no industry is safe, but from the looks of the postings on this website, things don't appear very rosy for the future of broadcasting, as a means of paying your mortgage.
 
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