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Farid's Five Million Dollar Man

S

SirRoxalot

Farid's paying Imus $5-Million a year for THIS?

http://www.bostonherald.com/news/regional/view.bg?articleid=1159353

Glad to see that Imus learned so much from the "Nappy-headed hos" incident.

An employee making $50K costs the company about $75K including benefits. Farid signed this has-been for $5-million per year. Do the math - Imus is costing the rest of Citadel 65 $50K employees a year - with enough left over to pay a handful of part-timers.

OK, so you need a "big name" in NYC. Know anybody who can do the job better than this of $1-million a year? You'd still be able to keep over 50 people in the markets that are MAKING money for Citadel.

Any wonder that Citadel stock is on the OTC market?
 
Another case of being damned if you do, damned if you don't.

When CBS fired Imus a couple years ago, lots of people, including most on-air talent, said that CBS was unfair in the way it acted. Heck, Imus even sued CBS for breach of contract. Radio boards like this one were filled with calls for someone else to hire Imus and give him another chance.

So in comes ABC radio. They hire him for less money than he was making at CBS. They took some criticism for that too. Within a few weeks, it was the same old Imus, and anything he said was reported and turned into a story. This is just the latest.

You wonder why some companies tell their talent to simply read liner cards and not venture into their personal opinions on the air. This is why.

There are lots of DJs who make 50K a year or even less who say and do things that are equally outrageous, but it never gets reported. That's because they're not a target. If you want a target, someone who will get headlines, you hire someone like this.

Everyone has an opinion. You talk to DJs who aren't syndicated, and they tell you syndication ruins radio. You talk to people like Tom Kent, and they'll tell you they're living the dream.
 
The potential is for IMan to bring in more than 5 million in revenue. When you're saying "fire him and hire 50 50000 a year jocks" it's a little like me saying "why don;t you drop your cable service so you can hire four kids to cut your lawn".
 
No, it's more like saying "You've got 300 lawns to mow in 50 different parts of the country. Don't buy that huge tractor-towed mowing machine. Hire 50 people with lawn mowers."

Guys making a LOT less than Imus are beating him in virtually every market he's in. I loved Imus 30 years ago. Now, he's over, done, toasted, finished - and was before Farid hired him.
 
You're looking at it as a "one or the other" thing. It's not.

Imus isn't a DJ any more. He's a talk show host. That's what he does. There are already a bunch of local talk show hosts out there. Imus is unique at what he does. He is his own brand. He has his own fan base. He also has his own haters. He attracts guests that the local shows can't typically get. And he's making money.

Five million is a lot of money for a local host, even in NY. But based on the revenue he brings in, syndicated on 48 stations, he's making money. In fact, if he was on just the Top Ten of those 48 stations, he'd be making money. A lot of the stations carrying him now carried him when he was on CBS, when he was making twice as much money. And only six of his 48 stations are owned by Citadel. So firing Imus doesn't mean Citadel hires 48 local DJs. Imus isn't what's hurting Citadel right now.
 
>>So firing Imus doesn't mean Citadel hires 48 local DJs. Imus isn't what's hurting Citadel right now.>>

Thanks for the simple course of economics "Big A"
 
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