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Inner City Lobbies for Bailout

DudeFan said:
Note that Citadel,Tribune, and Clear Channel (and many others) are not in line asking for handouts.
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How do we know that these groups are not quietly, in the background, also asking for inclusion in the stimulus packages? I don't know if the "pundits who comment on broadcasting" know what they are talking about, but some of them are beginning to give us projected dates for bankruptcy filings for some of these large broadcast groups. They just don't have a noise-making caucus on their side of the struggle.
 
Tribune is already in Chapter 11 Reorg. Citadel made the required SEC disclosure that Chapter 11 Reorg is likely come January, if they don't get "extend and pretend" with their lenders. Clear Channel is privately held, so the public won't be privy to anything other than leaks and company statements.
 
That first post sounded more like BigA than DudeFan. I think at this stage of our down hill slide, more or less hanging off a cliff, I think any company/corp would ask for a hand out to dodge the big bullet. Poor business decisions maybe or just a good business decision before the world suddenly changed around them. I bet there has been quit a few people say d**n what do I do now. I will agree if big companies get a bail out so little companies should too but when are things ever fair.
 
Gatekeeper:

I just find it outrageous that a broadcaster is using influence to get government help to save themselves from really poor decisions. If you do a little research on the principals of Inner City and NYT reporting on same, you may or may not come to the conclusion that not only are they poor operators, but are also less than honorable people. E.g., do a search on Percy Sutton and the Apollo Theatre Foundation and the sweetheart deal Inner City gave themselves for the rights to Showtime at the Apollo. Admittedly, that dispute was settled with an agreement that stated no wrongdoing was involved... but that is a very common settlement term.

At least Regent, Citadel, Cumulus, and Clear Channel (and others) accept the fact that they have made poor decisions and are working their way through negotiations with creditors and/or using the bankruptcy process (which was established in the Constitution) to restructure and move forward. No one wants to see any stations go dark or more folks go out of work, but if any of us make poor decisions or have difficulty, we don't get paid or don't eat.
 
DudeFan said:
I just find it outrageous that a broadcaster is using influence to get government help to save themselves from really poor decisions.
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What's equally outrageous, if not moreso, is that one of the chief backers of doling out TARP funds to minority broadcasters is a co-sponsor of the Performance Rights Act. That would be Ed Towns (D-NY). Using taxpayer dollars to subsidize idiot businessmen and millionaire musicians infuriates me!
 
Kent:

I agree.

Performers are entitled to a performance right royalty when they stop calling me and begging me to play their music on the air. When airplay has no value, then maybe they can have their hands out. As it is right now, it's at least a wash, if not the artist owing me for airtime. Heck :60 is worth at least $50. Minimum. And the average song is 3.5 minutes long....
 
Want to start something where you can't get a bail out or just about any help at times, do an LPFM station. It can sound original and have pleanty of listeners but make it or break it your on your own.
 
You don't need to tell me Inner City's Big DM isn't making a pot load of money with their "20 minute non-stop commercial sweeps" every hour. I'm sure WBLS in NYC is doing fine, too. I guess WOIC-AM isn't doing much....
 
It's not a matter of not making a pot load of money. It's a matter of not making a big enough pot of money to cover debt service. Ooops. Citadel, Cumulus and Clear Channel are in the same boat.
 
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