HAS THE PROVIDENCE MARKET BECOME AN ELEPHANT'S GRAVEYARD?

[Moonstruck]

Supposedly WSNE exists only to bring female listeners to that cluster and that's it. I don't know how B101 does with females but I'd think if WHJJ were to be simulcast on 93.3 it would have happened by now. Although who really knows who is calling the programming shots there anyway in spite of who the PD is. He could be implementing things but decisions are probably made from on high. I seriously doubt they thought Matty In The Morning and Seacrest in the PM were going to be their salvation after all the changes that left them nowhere.

 

[Holland Cooke]

The Original Sin

it would have happened by now.

These big companies are suffering SUCH untenable debt that they're often too "paralyzed" to make the logical long-term move.

You've seen the latest on Clear Channel's financial woes in trade press headlines.

And from Citadel's SEC filing this morning, regarding the terms and the amended covenants of the company's $2.013 billion senior credit facility:

"Based on the current economic conditions, capital markets and the continuing decline in radio revenues, the Company anticipates that it will be difficult for the Company to meet these requirements in 2010, especially those commencing on January 15, 2010. If we fail to do so, we will be in default under our Senior Credit and Term Facility and would also be in default under the terms of our convertible subordinated notes (as further described in the 'Subordinated Debt and Convertible Subordinated Notes' section below). Should we default, our indebtedness may be accelerated, we will likely not be able to satisfy these obligations, and we may need to either obtain an additional amendment or waiver from lenders or reorganize our capital structure and debt.

Management continues to monitor the Company's compliance with its debt covenants and is taking actions to reduce expenses, improve programming content, enhance revenues and manage its cash flow requirements. Should the Company's actions not be sufficient to meet the covenants, or if we do not generate enough cash to fund our operating expenses and pay our debt service obligations, the Company may be required to negotiate further amendments to its credit agreement or to restructure its debt. In May 2009, the Company hired a financial advisor to assist in the evaluation of the Company's financial options, including a possible refinancing and restructuring of its capital structure."

Translation: Trouble paying the mortgage. And that stuff about January 15 and not-generating-enough-cash-to-fund-operating-expenses is ominous.

The-bigger-the-company, the-deeper-the-doo-doo.

Stations like WSNE -- which would be-better-off doing-something-else -- are stuck-in-the-status-quo, "because it's cash-flowing;" and bankers get nervous about changing formats when "it's cash-flowing."

Seller's market purchase prices in the post-1996 de-reg pig-out were The Original Sin.

 

[N1WVQ]

No it's because "radio's biggest stars" aren't stars in Providence!!!! I cannot emphasize this enough! I've never (NEVER) come across anyone in Providence saying how much they like Beck or Hannity!!! Honestly, both shows are BORING! THAT is WHJJ's problem! WHJJ is BORING! WPRO/WEAN-FM (THERE'S your F.M. talker IF we "need" one) is INTERESTING! It's talking about PROVIDENCE! Providence is a closed area! We don't really care about national issues! Much more riveting are local topics! It's a small town with a state's name! The rest of the country can go to hell for all Providence cares! Moving this train wreck to F.M. will NOT save it & will only trash 2 frequencies. 93.3 will be saddled with the same loser programming as 920 currently has & 920 will be flipped to something else which will probably have next to no listeners. Probably brokered. At least 920 now has familiarity. Plus, 93.3 has female listeners which 920 doesn't. Why give that up to Citadel? Remember, most posters on here on male. We're mostly not into A.C. so of course 93.3 seems like a waste TO US. Honestly I think it can be programmed better but hey, what's it costing C.C.? Let's face it: C.C. Providence is on auto-pilot & will probably stay that way.

 

[Skynet74]

No it's because "radio's biggest stars" aren't stars in Providence!!!! I cannot emphasize this enough! I've never (NEVER) come across anyone in Providence saying how much they like Beck or Hannity!!! Honestly, both shows are BORING! THAT is WHJJ's problem! WHJJ is BORING! WPRO/WEAN-FM (THERE'S your F.M. talker IF we "need" one) is INTERESTING! It's talking about PROVIDENCE! Providence is a closed area! We don't really care about national issues! Much more riveting are local topics! It's a small town with a state's name! The rest of the country can go to hell for all Providence cares! Moving this train wreck to F.M. will NOT save it & will only trash 2 frequencies. 93.3 will be saddled with the same loser programming as 920 currently has & 920 will be flipped to something else which will probably have next to no listeners. Probably brokered. At least 920 now has familiarity. Plus, 93.3 has female listeners which 920 doesn't. Why give that up to Citadel? Remember, most posters on here on male. We're mostly not into A.C. so of course 93.3 seems like a waste TO US. Honestly I think it can be programmed better but hey, what's it costing C.C.? Let's face it: C.C. Providence is on auto-pilot & will probably stay that way.

OK. Add me to the list of people who couldn't care less about Beck and Hannity. Obviously I don't speak for everyone. I'm just saying that I don't care about them either. In my opinion they are just the offspring of RUSH. Limabaugh hit the scene and you suddenly had a thousand guys who tried to be like him. A couple of them were actually lucky enough to make it through. Rhode Island definitely has that small town feel. Probably because the state isn't much bigger than a town! Makes sense to me. Full of people who never even cross the state line.The rest of the country can go to hell for all Providence cares? You might be right. But it works the other way around as well. Most of the country couldn't give a crap about Rhode Island. That's a FACT! While in California... it's always fun to tell people where I'm from. Rhode Island I say. The response at least 50 percent of the time is..... OH..NEW YORK?! All I can do is chuckle as I realize that not only does the rest of the country not care about Rhode Island. But a good deal of people don't even realize that Rhode Island is a freaking state! Go watch Jay Leno do his bit JAYWALKING. Those arn't actors. People really are that dumb! So then I have to go into a geography lesson. After a while I just start saying that I'm from Boston. It's easier that way.


So what's my opinion on HJJ going to FM? Well I don't think it's going to help ratings on the AM side. So by duplicating the signal you essentially just kill off another format. One less option for people in Providence to listen to. That doesn't sound like such a great idea on the surface. I bet you that WSNE pulls in decent numbers in the workplace. By eliminating them I feel it could backfire. Then you'll be stuck with a LOSER station on two frequencies instead of just one. It may work for WPRO because their programming is strong. But would it work with HJJ's programming? I have my doubts.

 

[Runrigger]

There's a place in the market for Coast. Musically they are a good alternative for people who want contemporary hit music without the kid stuff. I'd have to really compare PRO-FM's current playlist with Coast's to see where they differ, but Coast also plays music from the 80s on a regular basis. My problem with the station is the people they've let go.

 

[Holland Cooke]

Tell that to WTOP, KSL, and a dozen others...

And check ratings on Minneapolis and Pittsburgh.

Moving this train wreck to F.M. will NOT save it & will only trash 2 frequencies.

Wanna bet?
Large lobsters and multiple martinis at my place...unless you're up for serious cash.

 

[Runrigger]

Holland, was it under your regime that WSNE was W (pause) S (pause) N (pause) E?

 

[Holland Cooke]

"But...but...it was the GM's idea!"

And I was SOOOOOOOOOOO thilled to be back-from-Buffalo, that I told him "I think it's a great idea!"

And THAT (Fall82) was our-second-best-book while I was there.
(The next book was up-from-that-book!)

The late, great Mike Sands beat Pro-FM in Women middays...despite our challenges:
http://www.youtube.com/watch?v=bWIriNOE65E
(See if you can spot decades-later WPRO GM Barbara Haynes.)

And we competed in other dayparts.
http://www.youtube.com/watch?v=88oPeNAaMvw

 

[Skynet74]

Re: Tell that to WTOP, KSL, and a dozen others...

And check ratings on Minneapolis and Pittsburgh.

Moving this train wreck to F.M. will NOT save it & will only trash 2 frequencies.

Wanna bet?
Large lobsters and multiple martinis at my place...unless you're up for serious cash.

Hey.. I see what you did there. You changed my quote to something that I did not say. Well...ok.. I pretty much said it. But you still changed it to make my words sound much worse! lol. I just said that I have my doubts. Radio is a crazy business that is run by crazy people. That goes for all of show business actually. So I realize that ANYTHING IS POSSIBLE. But I don't know about this idea. You seem confident based on the success of WTOP and a couple of other stations out there who made the switch to FM. So based on that alone I WOULD like to see them at least try it just so I can see if you are right. Hell... it doesn't matter to me. I've got nothing to lose. Let them flip the format today for all I care. I'm just sdaying that I would just hate to see another void in music in this town. WBCN Boston is one less choice on the dial now. Now you want to take away A/C too. How much longer until there is no music left on FM?

 

[Numo]

Think about it. markets like Providence are moving away from local talent. Why would you take a job at a station here just to be ousted when they decide to replace you with Seacrest, Ralphie, or that tool from Boston in the morning on SNE.

 

[Holland Cooke]

RE "How much longer until there is no music left on FM?"

TEMPTING topic: Which will last longer: Hard copy newspapers? Or music radio stations?

Flaw-in-the-topic: When radio stations have to start paying music royalties, music radio will begin degenerating into an on-air iTunes, a big two-way pay-for-play. So there'll probably always be music radio...it'll just be a big sales pitch.