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Clear Channel cleaning house across the country. Is Louisville next?

E

Eat2TheBeat

There has been MAJOR job cuts at Clear Channel including markets like Memphis, Philly, Indy and beyond, primarily in programming. Could Louisville be next?
 
You better beleive it! Lexington got whacked today. Happy holidays!
 
I'm hearing 8 staffers building-wide with possibly more today.
 
That's awful, especially around the holidays. Good luck to all of them. They are probably better off in the long run. Hopefully they were given some severance to get them through. Let's hope for a better year in '07.
 
Eat2TheBeat said:
How ugly was it? I didn't read about any job cuts in Lexington. Clear Channel have ruined radio.
Click to expand...

so tell us in your opinion who are the exemplary pillars of radio in 2006? which company never has budget changes and adjustments??????? luv to know
 
Radio consolidation automatically means fewer jobs and more unemployed people who used to work in radio. Get used to it. It ain't gonna change.
 
Is Clear Channel even going to keep their Lexington properties? They announced today, from waht I understand, that everything will be sold except the top 100 markets. Frankfort should be gone for sure. And if what they said holds true, Lexington will be sold as well.
 
in boards all over the country the cry seems to be for the good ole dayz. ny, sf, chi, boise, austin, dallas, miami

breaking news-u can never go back, only go fwd

we all have 2 deal w/it
 
All Access has a list of markets where CC is divesting stations:

http://www.allaccess.com/assets/editorial/raw/ccMarketDivestiture.htm

Interestingly enough, Lexington is NOT on the list. Up around my area, Youngstown (#118) is also not on the list either. I wonder if the cluster is pulling in too much money to sell off. WBUL looks like it continues to kick butt in the market.
 
a guess would be the 100+ markets they are divesting are those that aren't that profitable or don't seem to have long term viability

cbs did the same with much bigger markets just recently
 
I have been in the business for many years. Do you remember radio pre-1996? Before CC became what they are today? They were very smart $$ wise but they killed off and stepped over the bodies of many great talents and radio stations in the process. They are back at it again with their employees paying with their careers. They killed off the concert industry by overpaying artists just so local promoters couldn't afford to do business anymore. As a result, ticket prices are triple what they were just a few years ago. CC has made HUGE profits and many good people paid the price. I understand that this is how business is done but it's hard to get used to that!
 
Eat2TheBeat said:
I have been in the business for many years. Do you remember radio pre-1996? Before CC became what they are today? They were very smart $$ wise but they killed off and stepped over the bodies of many great talents and radio stations in the process. They are back at it again with their employees paying with their careers. They killed off the concert industry by overpaying artists just so local promoters couldn't afford to do business anymore. As a result, ticket prices are triple what they were just a few years ago. CC has made HUGE profits and many good people paid the price. I understand that this is how business is done but it's hard to get used to that!
Click to expand...

curious. which radio co. do u work for currently?
 
genghis said:
Is Clear Channel even going to keep their Lexington properties? They announced today, from waht I understand, that everything will be sold except the top 100 markets. Frankfort should be gone for sure. And if what they said holds true, Lexington will be sold as well.
Click to expand...

Yes, CC keeps Lexington KY.
 
Somerset is just about a two hour drive, but it's only thirty minutes away if I fly. We'll see what the numbers look like...it would probably make sense for me to have them. A prominent broker said in Radio and Records this week that he believes the CC stations on the block will fetch high prices. I tend to disagree, but that's just my opinion.
 
Best of luck if you decide to go for them. I almost ended up working for WSFC/WSEK in the late 70s. I really don't know how high of price stations like these, or Mansfield, OH will be...I'm wondering if CC will break even or take a loss.
 
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