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PAY CUTS AT JOURNAL TULSA

While a 6% pay cut beats losing your job, I doubt they'll ever get the 6% back when times improve. That is typical of modern radio. I feel bad for all concerned.

O'Shea
 
Renda employees took a 10 percent cut a bit ago. Too bad radio companies are like that these days. I bet the head jerks didn't suffer any cut. I agree on the never getting it back either.
 
Mark my words and remember this statement a year from now...Journal Communications will sell off their radio properties as soon as they can. Rumors are already abound that they have a broker looking for possible buyers. This would clearly make financial sense for a paper chain in the hurt.
 
A number of radio station owners are also newspaper owners... if they sell, others are likely to as well.

There is no good news in this story for anybody on either side of the radio.

My heart goes out to those at Journal right now... and every other broadcaster at every other station in town, wondering if their owners will be the next to do something like this... or WORSE.

The best programming in the world won't pull in advertising dollars that don't exist when local & national businesses tighten their belts, or go out of business.
 
Guys, it was not just a Tulsa pay cut. All Journal Radio properties took the pay cut. As for the comment about Journal selling off the radio division - not sure who is buying right now. Most companies are heavily leveraged in debt. Renda is not going to buy. Shamrock is not going to buy. Cox and Clear cannot add stations to their Tulsa clusters. Citadel is not expanding.

I could also see Griffin Communications buying a few radio stations at some point. I know they are missing 87.7 right now.
 
Let's hope David Griffin decides to step up and play radio. Now would be a great time for a sound-footed broadcaster like David to step up and get some good radio properties at a good price. At least David would put some oil the engine to keep the radio machine running if owned properties unlike most operators these days.
 
For some reason, I suspect that The Griffins may not be loaded with cash to spend on radio properties.

Besides, their radio partner, Cox is usually on the ball with severe weather, more than with other radio clusters.
 
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