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WHAT'S GOING ON WITH NASSAU?

Bottom line is that Nassau is Hemorraghing cash.... They need to sell properites, but clear channel is putting almost 500 stations on the market, so now its a buyers market... There are a ton of stations that can be had especially in the small markets Nassau operates. Their New England stations are almost unsalable.. they screwed the pooch so badly up there, so what do they have to sell. I guarantee that sometime in the next year, Nassau spins off the Pennsylvania properties they have to generate some desperatley needed cash.
Its about the only thing Lou has left to right his sinking yacht.. So lets keep an eye on Nassau Pa. and see if some dead wood starts getting chopped. (A good start would be in Easton, they have been underperforming there for awhile now) Revenues are down industry wide, so I think anyone that has a high salary is going to be a target. There was a house cleaning in New England and Princeton, so whats next??? This should get real interesting in the next few months, I'm breaking out the pop corn and watching the bodies being thrown on the fire....
 
unobtanium said:
...Nassau spins off the Pennsylvania properties they have to generate some desperatley needed cash...
Click to expand...

You may be forgetting something - are the Pennsylvania stations performing adequately enough to get the amount of cash needed to keep buying corks to plug the leaks popping out all over? Here’s a thought… How about the Maryland cluster? There are only 2 FMs and 1 AM there. How are they doing? Being they are what one might call a ‘rim-shot’ into Washington and Baltimore, could they be worth more and therefore bring a little more cash? But a quick look at the web sites show they have been looking for an Account Executive since May and a Promotions Assistant since August – and they are still looking for someone to do Traffic (as in schedule and billing – not cars). What cash they may get if they sell them and the operating expenses saved might buy them a few more months until they get a victim, errr I mean, a buyer for the Pennsylvania properties. Of course they could see if they could get a few bucks for the FM and AM located around the Princeton area since they do get into Philadelphia….. :-X

Hummmmm.....

(Just another point of view)
 
Clear Channel has screwed the operator's without deep pockets lined with cash.
 
wiseman said:
Clear Channel has screwed the operator's without deep pockets lined with cash.
Click to expand...

A Wise Man.

Now here's something to think about while you wait for the egg nog to go sour.... What if Clear Channel made an announcement they will decide later not to follow through with? They just greatly de-valued a whole bunch of stations they will be able to scoop up after the new year at pennies on the dollar. If that thought is true, that would be brilliant, huh?

Just something to ponder while eating that decade old fruit cake around the Yule Log...

(Just another point of view)
 
Oh - and just for those keeping score...

Three more people let go from the Nassau Ranch yesterday at the Stroudsburg, PA location - 2 of them with over ten years dedicated and loyal service. One from the Boyertown, PA location yesterday. Who will be the lucky recipients in the Easton, PA location? Place your wagers now...

Happy Holidays! :p


(Just another point of view)
 
Shame to hear about Stroudsburg. That was a real class operation back when La Rose, Stiansen, then Sumereau, Musselman ran it. Small time radio is going the way of wire cables I guess. Sad.
 
What is going on? Panic. And Nassau must be leveraged to the hilt.
 
wiseman said:
...And Nassau must be leveraged to the hilt...
Click to expand...

I'm afraid they may have their backs not against a wall but hanging dangerously over the edge of a cliff. Hope 'they' skimmed enough to have purchased a good, working parachute.

Wonder what happened to the cash from Access.1? ::)

(Just another point of view)
 
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