ENOUGH ALREADY! The accusations we continue to throw at each other about why someone likes or dislikes Clear Channel need to stop.
Obviously we are all passionate about radio whether working in the industry or not. As a CC employee since the merger with Jacor, I can assure you in no uncertain terms that Clear Channel's philosphy in radio is "Billing is mandatory, programming is optional".
For those of us who have made radio our life this is heartbreaking and sad. Sure we want our stations to be successful and make money. That is an absolute in keeping our jobs, but most of us realize that programming is the most important aspect in making and keeping our stations successful.
With that said, let me layout some numbers for those of you on this board who continue to preach that radio is a business and CC has to take care of the bottom line which is "Money". The following numbers and information will be fact not opinion:
March 26, 1999-Jacor stockholders vote to approve merger with CC.
Jacor stock price on that day 3/26/99 was $78.08 CC stock price 3/26/99 $63.81
Fast forward to August 10, 2006-CC stock price $27.17.
The following week rumors began about possible changes with CC and on November 16, 2006 it bacame official as CC went private. Shortly after that CC announced a list of 448 small-medium market stations that would be sold. Nearly 40% of their 1,150 stations. What happens from here is anyone's guess.
1 more number and I will wrap this up.
An overwhelming amount(around 90%) of CC radio revenue comes from their stations in the top 20 markets which would be about 10% of their 1,150 stations.
Now back to opinion:
Looking at the facts, it doesn't take a genius to see that neither CC nor any other corporate giant has any business being in small-medium market radio. The big money is in the biggest markets. That is now where CC is headed. Should CC be blamed for giving it a shot? We could argue that all night long and never agree. So, who knows?
I don't think anyone else will roll the dice and take a chance on a venture in radio of this capacity ever again.
It will take awhile, but we are beginning to turn the corner and head back the other way. Even though there is no chance to return to where we once were in radio, I think we can find a happy medium that will better serve both broadcasters and listeners. And that, my fellow posters, is o.k. because nothing ever stays the same.
There, I feel better. Thanks for letting me get that off my chest.