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Radio55
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The following is from the Radio-Info Home page...
Kelly Communications in Peoria shuts down two stations due to "financial conditions"
Radio's hard times have hit Peoria, Illinois hard - two stations are going dark. Kelly Broadcasting-owned WOAM-AM (1350), which plays adult standards, and WPMJ-FM (94.3), an oldies station, will go silent at the end of today's broadcasting day. Owner Bob Kelly says "Advertising revenue in the Peoria market has been flat for the last 5 years, while operating expenses have dramatically increased, creating a shortage of operating funds, and in today's economic crisis, it's all but impossible to obtain refinancing." Kelly adds, "the company does not have the resources needed to continue to operate." Kelly was contacted by Radio-Info, but did not comment on whether the stations were up for sale.
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What's going on here? Are there simply too many stations on the air? Certainly the ad-revenue pie can only be sliced so many times, but some of these stations going dark have been on the air for decades and have survived one economic crisis after another, only to fail now. Hometown stations, fully staffed and jocked have done well for years, it seems, and now, stations have voice tracking, the best automation systems ever, and still fail. What is happening to our business.... What is it that is crushing the great stations in these communities?
I would appreciate your thoughts.
Kelly Communications in Peoria shuts down two stations due to "financial conditions"
Radio's hard times have hit Peoria, Illinois hard - two stations are going dark. Kelly Broadcasting-owned WOAM-AM (1350), which plays adult standards, and WPMJ-FM (94.3), an oldies station, will go silent at the end of today's broadcasting day. Owner Bob Kelly says "Advertising revenue in the Peoria market has been flat for the last 5 years, while operating expenses have dramatically increased, creating a shortage of operating funds, and in today's economic crisis, it's all but impossible to obtain refinancing." Kelly adds, "the company does not have the resources needed to continue to operate." Kelly was contacted by Radio-Info, but did not comment on whether the stations were up for sale.
(end)
What's going on here? Are there simply too many stations on the air? Certainly the ad-revenue pie can only be sliced so many times, but some of these stations going dark have been on the air for decades and have survived one economic crisis after another, only to fail now. Hometown stations, fully staffed and jocked have done well for years, it seems, and now, stations have voice tracking, the best automation systems ever, and still fail. What is happening to our business.... What is it that is crushing the great stations in these communities?
I would appreciate your thoughts.