More Cuts at Clear Channel

[easy money]

No problem, if it's ok with you, until then I'll keep cashing my checks and continue sporting my positive attitude. I have no doubt you'll continue being negative, making excuses and pointing fingers as to why your career keeps stalling out.
The good thing is, you have plenty of friends on this board with the same incredible mind set.

No doubt CC's stock is down and I'm not happy, but it's still selling much higher than the competition.

Keep smiling TL.....I will

 

[jd]

Keep smiling TL.....I will

Why am I reminded of Mad Magazine's Alfred E. ("what, me worry?") Neuman? Or the innocuous smiling face on a frosty pitcher of Kool-Aid?

 

[DickNixon]

jd, it's probably because drinking koolaid and reading mad magazine is how you frittered away your youth.

 

[michaelshiloh]

jd, you're right, but from the way Dickie and Clear Answer/Easy Money insult people while praising their employers, I'm also reminded of "Mr. Yuk" or the Garbage Pail Kids.

On topic: What do you think Clear Channel will do if the Bain/Lee Partners deal doesn't go through? I haven't seen anyone address this on the boards. A large selloff of more stations in a sinking market? With their recent experiments in having one person do traffic reports for all local stations and cutting staff at KTRH, it's hard to believe they can just keep laying off employees.

 

[CW]

They've taught the Prophet system at CC how to enter comments on this site and its name is Easy Money.

ROFLMA!!! Thats a good one Stan!!!!! (And I went to the "Prophet Academy"....in BFE Nebraska!)

 

[SPOTS FOR DOTS]

TWILIGHT, well said. And EASY, I appreciate your loyalty and youthful dedication. But you better call your broker and move the 401. There is a reason John Hogan is roaring, the mighty empire is beginning to hear that great sucking sound. This won't be pretty in the next month or so.
p.s. Have the Mays given up the "several" corporate jets yet, while the rest of you are asked to continue to make sacrafises? Yea, enjoy your environment.

 

[bobbybooey]

As far as the current budget freeze goes, word on the street is that CC corporate was asleep at the wheel (gone for the holidays) last month when budget projections started trickling in, and now they're having to make a drastic move because the buyers are looking at the numbers for early 08 and saying "WTF are you people doing?!?!?" They've been gutting the company for this sale, and if it falls through I've gotta think they'll have no choice than to start spinning off stations for pennies on the dollar. I can see Entercom being a big player if that happens.

 

[CW]

As far as the current budget freeze goes, word on the street is that CC corporate was asleep at the wheel (gone for the holidays) last month when budget projections started trickling in, and now they're having to make a drastic move because the buyers are looking at the numbers for early 08 and saying "WTF are you people doing?!?!?" They've been gutting the company for this sale, and if it falls through I've gotta think they'll have no choice than to start spinning off stations for pennies on the dollar. I can see Entercom being a big player if that happens.

Cumulus, Citadel and possibly Liberman would be sitting in the wings with baited breath to buy some of CC's larger clusters...
Of course in Houston LBI is maxed and would have to sell off some of their current properties and NOONE would buy them at the price they want (well maybe 700......Patrick would probably come up with the change for it)..
It would be a buyers market thats for sure...Clear Channel has noone but themselves to blame for it...wish I had sold my stock when it was at $100 a share...

Hmmmm I need to talk to my broker about my 401K there (and stock) now that I think about it.

 

[aunti-terrestrial]

Don't worry, Easy Money. When it's your turn to do three or four jobs because they've canned those who should be doing them, and then when they turn to you and tell you that there's something wrong with your performance because they need to slash another few bucks, you can tell them how loyal you were on this board. It'll make a HUGE difference.

 

[InTIMadate]

As far as the current budget freeze goes, word on the street is that CC corporate was asleep at the wheel (gone for the holidays) last month when budget projections started trickling in, and now they're having to make a drastic move because the buyers are looking at the numbers for early 08 and saying "WTF are you people doing?!?!?" They've been gutting the company for this sale, and if it falls through I've gotta think they'll have no choice than to start spinning off stations for pennies on the dollar. I can see Entercom being a big player if that happens.

Cumulus, Citadel and possibly Liberman would be sitting in the wings with baited breath to buy some of CC's larger clusters...
Of course in Houston LBI is maxed and would have to sell off some of their current properties and NOONE would buy them at the price they want (well maybe 700......Patrick would probably come up with the change for it)..
It would be a buyers market thats for sure...Clear Channel has noone but themselves to blame for it...wish I had sold my stock when it was at $100 a share...

Hmmmm I need to talk to my broker about my 401K there (and stock) now that I think about it.

Why would you blame Peter NOONE and why would he be buying clusters in Houston? What lack of educational institution do you claim? Your petty and poor writing doesn't change the fact that advertising is slowing down and media is in trouble. Television is rebating tens of thousands of dollars to clients because they can't make the points work due to the writers strike. My friends in TV sales are extremely unhappy and they work for ABC and CBS. What radio companies are doing well? Emmis? CBS? Citadel? No! they are all at a fraction of their value from just a year ago.

May I suggest a study in economics? We're in a recession and the companies that plan to survive will be the ones that cut now and weather the storm. Read the Starbucks story online. Open your eyes and mind.

 

[fredthehead]

Radio is a dying format. It is a dinosaur that has slowly died on the vine.....

Here's the economics for you (and yes I have read up on Starbucks problems) PEOPLE ARE NOT BUYING WHAT YOUR ARE SELLING. How's the HD radio thing working out?

 

[Old Crow]

I did some "home-built" research regarding the health of radio. I asked my 13 year-old son and his basketball team-mates what radio station they listened to. They ALL said that they don't listen to radio. Their parents do. So, I asked them about the music they listen to and guess where they hear it. Go on....guess.

In a few more years, the internet will be the base for radio, TV, and movies. Now, I'm not saying that terrestrial radio is going to die out, but, in another half a generation, terrestrial radio will be a far different medium. It is going to have to reinvent itself, and companies like CC are not only unable to do it....they are not so inclined. Since the Telecommunications Act of 1996, the business has been gutted by profit takers. And why not? The business atmosphere was skewed to that kind of operation. Creativity, content, solid business relationships with clients, record labels, and people in general just haven't entered into the equation. What surprises me more than anything else is that so many people in the radio business today just don't "get it". So, while you're not shedding tears for CC, don't bother shedding any for any of the other companies out there, either. Not a one of them is a company that's run by true "radio people". And, the few "radio people" who are left bailed out of the business some time ago and, most likely, aren't inclined to get back into it when there are so many opportunities in the "new media". Good luck, CC. You really spit in your mess kit!

 

[InTIMadate]

Why are you two on a RADIO BOARD?

I've heard the same "home-built research" for almost 30 years. [EDIT] We're in a recession. We loss 17,000 jobs last month. Home Depot is firing 500 staff at their corporate office. Starbucks is shutting stores and Target, Sears and yahoo are all in trouble. Yes, it's effecting radio too.

HD Radio had a banner year in 2007. Try reading the news without the hate glasses, OK? It's reported today that Ibiquity announced that 330,000 HD Radio receivers were sold last year, a 725% increase from the 40,000 units purchased in 2006.

Don't you find it interesting that every male kid 8 to 18 knows that Slash is a rock god and Target is selling Led Zep and Van Halen shirts in their boys dept? Guitar hero is creating the biggest boom in guitar sales the market has seen in twenty years. Kids that want to play instruments will want to hear music. Yes, radio will have to change, become more interactive and accessible. We already are through websites and new formats via HD.

[EDIT]


[EDIT-inflammatory]

 

[DickNixon]

Good Post In-Tim - a voice of reason - and it began with an excellent question. Just checking the facts: In Houston radio revenues were up 2% in 07 while TV and Newspaper were down significantly. I'm not sure why all the Chicken Little's are sounding the death nell of radio. Radio needs to, and is, changing. But jeez - 300 Million dollars tells me it ain't dead yet.

 

[stan]

I think I heard this on Carson the other night -

Johnny: Things are really bad at Clear Channel.

Ed: How bad are things?

Johnny: Things are so bad that they cut Walter's Johnson!

Audience groans.

 

[justareporter]

Dear EasyMoney,

I'm glad you have a job in the business and from your perspective you are doing well. The truly sad thing is that you don't know any better. It is not that some of us have 20+ years of frustration. Just the oposite. Many of us spent 20, 30 maybe even 40 years building something and working for something that had meaning, only to have owners like CC destroy it in a decade.

If we are frustrated it is because the collective minds of academia, government and the private sector have been unable to stop the wholesale decimation of an industry. CC and its owners have done more to ruin broadcasting and broadcast journalism than any other single entity.

They ought to be ashamed.

And you sir....need to learn history.

This is more than a paycheck.

 

[mrtexmex2007]

Hey CC radio stations arent the only stations that exist here in houston. If you dont like it all you have to do is tune your radio to another station. Leave Easymoney alone!!!! :

 

[easy money]

just a reporter, i feel sorry for your demise. I fail to see how CC has ruined radio. It appears that CC has vision and knows how to stay on the forefront. Every other company could have grown as large as CC, but failed to have the interest or the know how.

I agree with you on the importance of history; however I don't agree with dwelling on it. Are you still upset that cd's have replaced cassettes, 8 tracks and vinyl records? Do you prefer faxing versus e-mailing?

All businesses change, now faster than ever, those who can adapt survive, sorry that you're struggling with this.

You may want to take a look at becoming a mail carrier or a paper boy, I believe their delievry method hasn't changed in 75 years. So get a hold of some spray mace and enjoy yourself.

 

[miranda919]

Hey CC radio stations arent the only stations that exist here in houston. If you dont like it all you have to do is tune your radio to another station. Leave Easymoney alone!!!! :

Hey now... we're not ATTACKING Easy Money or anything like that. Easy just jumps on a topic and single-handedly tries to change everyone's minds.

Everybody wants to get their word in. I, for one, don't agree with him. He would be a lurker-- But he chooses to post. That is why he goes from "lurker" to "the topic of conversation".

 

[aunti-terrestrial]

Leave Easymoney alone!!!! :

Is Chris Crocker here?