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LFG Holding on to remaining JP Stations

Mike Sheridan

Mike Sheridan

News Item:

The NAB news brief claims that because of the current business climate LFG is taking their remaining stations off the market. They will continue to operate stations in Atlanta, Miami, Denver, San Diego.

So does that mean that Atlanta is the new "flagship"?
 
It probably means that Lincoln couldn't get the $$$ out of a sale of those operations that they wanted to get. They probably figure to wait until the business climate is better for radio, and then to try to market them again.

Given the willingness that Lincoln has shown to put their stations up for sale, it's probably going to be difficult to convince potential employees to stay with the company long-term.

Later,
Matt Smith
WGSR-TV
 
Matt, the large group owners have really put a limit on the staffs choices. Most stay put as long as possible.

Take Miami for example. There are only 4 groups LFG, Cox, Beasley, and Clear Channel. The employers have the upper hand like never before. If they want to pack up the U-Haul it's a different matter. Even then the openings are not as plentiful as they once were.
 
True, but I'm talking about potential employees...and not just air staff. The people that are passionate winners in this business aren't going to go into an employment situation knowing that somewhere down the road the station might be under ownership of someone they've had problems with in the past.

And with the fact that a normal broadcast station has a churn rate of employees in the neighborhood of 20%-30% annually, that means Lincoln will have difficulty replacing those folks they need to succeed at their current investment levels. That means fewer people wearing more hats in the short term, higher salary expenses to get those people when they DO have to hire them, and more financial overhead to erode the return on investment.

Lincoln shot themselves in the foot by announcing that they were even exploring the possibility of selling their stations. I think you can write off what is left of the group as performing in a less-than-stellar manner financially until they do something with them.

Later....
Matt Smith
WGSR-TV
 
I have thought this for quite a while, but I don't remember if I posted this thought before.

It's a shame that the former corporate executives of JP Broadcasting were not able to put together a group to purchase the JP Broadcast holdings when LFG decided to drop them. They probably knew it was coming long before it happened, maybe even before anyone discussed it publically.

The former execs of JP would have made good group owners I think.
 
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