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Clear Channel and Cumulus Iheart deal

B

Brother Doug

Guest
To better understand how the Iheart radio app will be shared by Cumulus Media is simple. In the last few months, Cumulus media has been firing some of its radio staff nationwide. Sound familiar? Clear Channel did the same but with much more dire consequences. Now the two companies are reportedly going to share the Iheart radio on about 1000 plus stations together according to a recent article on Radio Info.com. Bain Private Equity now controls Cumulus as well as Clear Channel Radio. But of course since I have been reading the boards this transaction was never even mention in the trades.
 
all the more reason to move to pandora.
The combining of the two biggest groups is even more indication that radio is DOA.
 
Connect the dots...Pittman...IHeart Radio...Bain....breakup of Clear Channel at the end of 5 years
 
By mid 2012 or earlier you can expect major management shifts inside Cumulus and more layoffs from Clear Channel. And by the way, expect a lot of voice tracked canned ham on all the 1000 plus stations Bain controls. Yeah, it sure is nice to hear a jock outta New York from an office doing a station down here promoting their Iheart page. Corporate radio sure is brilliant.Kill all the local flavor so we can put jet fuel in Pittmans plane. I find that amazing. Enjoy the ride. It wont last long.
 
Let's see...IHeart...as in "I love...". Seems to me in order to love something/someone, you first must HAVE a heart.

What these bogus bastards have clearly proven is that they DON'T love the people who work for them. Then there's this: Cumulus cans Dan Formento but sees to it that we have a Christmas special with Justin Bieber.

The irony fills the room.
 
Does this mean Cumulus will be restricting its streams to iHeartRadio only? After CC rolled out the improved setup they pulled their streams from independent aggregators like TuneIn Radio.

It sucks. Now to fully explore the online "dial" from my phone I have to have TuneIn, iHeartRadio and CBS' Radio.com.
 
Pandora Baby!
Read the story at the front of this site.
Pandora continues to build audience while CC & Cumulus continue to believe they have got the answers to fix radio. I Heart my ass.
Lou Dickey have a heart?
John Hogan have a heart?
Bob Pittman have a heart?
Ask anyone who is unemployed this Christmas thanks to these bastards.
 
Gawd getting fired from CC was a blessing. Hired in Chicago two days later. I actually look forward to going to work again.. working with Randy Michaels and gang. Merry Christmas.

Tim Spencer
Ops Mgr
WIQI/WLUP
Chicago
 
Gawd getting fired from CC was a blessing. Hired in Chicago two days later. I actually look forward to going to work again.. working with Randy Michaels and gang. Merry Christmas.
Click to expand...

Good for you, Tim! To put it mildly, I know that you caught a lot of heat for the way things happened at CC here. That's in the past. Good luck in Chicago!
 
Congrats to Tim. As a Cumulus survivor (sorta like a cancer survivor, just not as important), I'm pleased for anyone who gets out alive.

Today, there is another pearl of wisdom from Bob Pittman: "Don't badmouth radio. If you don't like the industry, get out of the business".

Yo, Bob...get a clue. It's not radio we're badmouthing...it's YOU!! We like the industry just fine...we just don't like what you and your ilk have done/are doing to it.

The arrogance of this "man" is equalled only by his abject ignorance.
 
tspencer103 said:
Gawd getting fired from CC was a blessing. Hired in Chicago two days later. I actually look forward to going to work again.. working with Randy Michaels and gang. Merry Christmas.
Tim Spencer
Ops Mgr
WIQI/WLUP
Chicago
Click to expand...
Hi, Tim, glad that you landed on your feet, but as for me, I take Randy Newman's advice and "leave Chicago for the Eskimos"! ;D
 
Brother Doug said:
Bain Private Equity now controls Cumulus as well as Clear Channel Radio. But of course since I have been reading the boards this transaction was never even mention in the trades.
Click to expand...

Not true. Bain owns exactly zero shares of voting stock in Cumulus. Both Bain and Thomas H. Lee Partners got out of Cumulus Media Partners when they bought stakes in Clear Channel and Univision. It's possible that both may still own non-voting stock in the new Cumulus, and it's quite likely that Bain and THLP are friendly with Crestview Partners and Blackstone, the private equity majority holders of the new Cumulus. However, Bain never held a controlling interest in Cumulus. It held 25% of Cumulus Media Partners and, prior to the Citadel deal, absolutely nothing in Cumulus Media. Cumulus Media and CMP were two separate companies with different ownership structures, but Cumulus Media Partners was managed by Cumulus Media. With the Citadel deal, the two divisions of Cumulus are now one and controlled by Crestview and Blackstone.
 
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