I along with many people on this site have taken shots at some of the large operators. But there might be hope. In Houston TX., Radio One is in the process flipping their Urban Gospel 92.1 semi rim shot.* Radio One is not firing, releasing, or canning the current air staff. They are finding them jobs within the company. They are putting the Urban Gospel on a HD channel. R1 is even offering to BUY HD RADIOS FOR THE CURRENT 92.1 LISTENERS! Radio One has hired a well season, experienced on air staff for 92.1.
I follow stock options (not media so no conflict of interest on my part), but just a quick look at Radio One. It IMHO is over leveraged. CC a little harder to figure out but IMBO is over leveraged too. IMHO both have debt "bombs". Radio One is trying to grow revenue. They are even trying Jack in Columbus Ohio. CC is cutting costs by getting rid of local talent. I hope Radio One’s creditors are open to an operator trying to bring more money into the business on the hope that there will be more money available to pay the creditors, rather than looking at this quarter’s expense. Downsizing a couple of hundred sub six figure salaries (200 @ $50,000= $10 million) will only make a less then one percent dent in multi billion debt. If a media CEO can not grow revenue by one percent maybe the CEO whose salary with options and perks is often more than $10 million should give up his salary to make even a bigger dent in the debt.
Even if paid much less, I would much rather work at Radio One than CC in this market. IMHO if you give employees real job security, and treat them like you would want to be treated, they will work for a little less, and contribute much more to your business becoming assets rather than expenses.
I am posting this in Atlanta because there are a couple of radio operators headquartered in Atlanta and maybe someone will read and possibly think about which kind of type of operator they would want to be: CC or Radio One?
*The 92.1’s 60 dbu covers around two thirds of the 5 million market, turning off the stereo pilot should help but still not a total market covering "killer" signal. I personally feel 3 + million in your signal’s coverage area is nothing to sneeze at, but in Houston Texas market “everything is bigger.”
I follow stock options (not media so no conflict of interest on my part), but just a quick look at Radio One. It IMHO is over leveraged. CC a little harder to figure out but IMBO is over leveraged too. IMHO both have debt "bombs". Radio One is trying to grow revenue. They are even trying Jack in Columbus Ohio. CC is cutting costs by getting rid of local talent. I hope Radio One’s creditors are open to an operator trying to bring more money into the business on the hope that there will be more money available to pay the creditors, rather than looking at this quarter’s expense. Downsizing a couple of hundred sub six figure salaries (200 @ $50,000= $10 million) will only make a less then one percent dent in multi billion debt. If a media CEO can not grow revenue by one percent maybe the CEO whose salary with options and perks is often more than $10 million should give up his salary to make even a bigger dent in the debt.
Even if paid much less, I would much rather work at Radio One than CC in this market. IMHO if you give employees real job security, and treat them like you would want to be treated, they will work for a little less, and contribute much more to your business becoming assets rather than expenses.
I am posting this in Atlanta because there are a couple of radio operators headquartered in Atlanta and maybe someone will read and possibly think about which kind of type of operator they would want to be: CC or Radio One?
*The 92.1’s 60 dbu covers around two thirds of the 5 million market, turning off the stereo pilot should help but still not a total market covering "killer" signal. I personally feel 3 + million in your signal’s coverage area is nothing to sneeze at, but in Houston Texas market “everything is bigger.”