S McCoy said:...My point is that in a time when times are tough, it is an interesting concept that banks are still investing in radio...
I don't think banks are so much "investing" in radio as much as they already DID invest in it, and are now stuck holding tons of DEBT (ex: Clear Channel). I see GAP's creation of new divisions as a standard tactic to try to invigorate a stale brand and keep the debt-holders at bay. The current radio investment financial institutions hold has most likely lost quite a bit of its value vs a few years ago. That's not the sort of thing investors like to see, and in many cases in this industry, all they are seeing is red ink on the balance sheets.
...and that the medium that we all are very passionate about is not dead...
...but certainly appears to be on life support before the plug gets pulled for some of those media groups.
...Remember in the 21st century this is now more than ever a business. I am a fan of great radio...
When has the broadcast industry ever NOT been a business? I'm of the opinion that the paradigm of "business as usual" in radio in the late 20th Century is the reason why things are looking so bleak financially in the 21st Century. I too am a fan of great radio, but one thing I learned in this biz is that what's good for the investors is most certainly NOT what makes for great radio. It seems to me that you can keep the investors happy or the listeners happy, but not both...