Clear Channel sinks lower still.

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soundhound
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Joined: Fri Oct 02, 2009 12:23 pm

Clear Channel sinks lower still.

Post by soundhound » Wed Aug 29, 2012 4:25 pm

Just got done talking to an exec at a Clear Channel talk station in a major market. He has a memo circulated from the boys at Bain which makes an ominous threat. The memo states massive layoffs have been queued pending the outcome of the election. The word is, if Romney is elected, minimal staffing cuts will be made. If Obama is re-elected, there will be a huge bloodbath of layoffs among Clear Channel stations.

This memo has been widely circulated among execs, but reportedly not among talent for fear of it becoming public.

thecheese
Posts: 91
Joined: Wed Feb 02, 2011 4:03 am

Re: Clear Channel sinks lower still.

Post by thecheese » Thu Aug 30, 2012 5:02 am

The few Clear Channel facilities i've been in have been ghost ships, anyway.. just a phone on the desk where the receptionist used to sit, you pick it up and tell the voice on the other end what you want.

3 or 4 stations in one building, air talent is limited to one jock per station.. if you're lucky.

I can see the headline now..

"CLEAR CHANNEL LAYS OFF 80% OF IT'S AIR TALENT: UNEMPLOYMENT INCREASES BY 12."

cuddzu
Posts: 101
Joined: Fri Sep 25, 2009 3:24 pm

Re: Clear Channel sinks lower still.

Post by cuddzu » Thu Aug 30, 2012 7:07 am

It is interesting to note that on the heels of Obama's election in 2008 the layoffs began, and I believe there were three rounds that were initiated with just a couple of months in-between. Not sure of the significance or connection, but then again i am not at Bain Capital's HQ to hear the meetings either.

Then once vCreative got installed, Prod Dir's like myself were booted across the board with the exception of only a few that could manage multiple markets thanks to the software. As a Professor at Texas A&M is famous for saying.."It is what it is". Unfortunately.
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Spanky74
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Joined: Sat Nov 28, 2009 7:11 pm

Re: Clear Channel sinks lower still.

Post by Spanky74 » Thu Aug 30, 2012 7:14 am

I NEVER listen to public radio at all anymore. I suppose there has always been an element of payola and agenda in public radio but it has never been more pronounced. I am tired of being force fed the same American Idol winners or streamlined corporate entertainer/celebrity singer types year after year after year. I have to laugh when a has-been entertainer joins American Idol alumni and suddenly has a hit record out of nowhere,lol or a back table deal gets made with Mariah Carey and she suddenly gets a hit record. I highly doubt call out response exists in actual practice, it probably just exists in theory so when people start suspecting payola, Clear Channel can pull out some kind of crafted, fabricated indication that the public actually wants to hear the records they are playing.

cuddzu
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Joined: Fri Sep 25, 2009 3:24 pm

Re: Clear Channel sinks lower still.

Post by cuddzu » Thu Aug 30, 2012 7:25 am

Public Radio and Commercial Radio are two very different things. Do you mean Commercial Radio? Public Radio is funded by the Public in donations and trusts, and used to receive Government Subsidies? That’s why most of them are NPR, UPI, or PRI affiliates. Could you clarify?
:-)
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cpeterson602
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Joined: Thu Aug 16, 2012 12:24 pm

Re: Clear Channel sinks lower still.

Post by cpeterson602 » Thu Aug 30, 2012 4:04 pm

Oh come on.. While I don't doubt more layoffs will come, the election has nothing to do with it. The plan is most likely very much in place for any foreseen layoffs (as they have continued throughout 2012).

And come on.. Nobody on the local level is getting memos from Bain. Seriously, this is ridiculous.

beedubradio
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Joined: Thu Sep 08, 2011 12:05 pm

Re: Clear Channel sinks lower still.

Post by beedubradio » Sat Oct 13, 2012 12:45 pm

Hate to say it, but I've heard the same "rumor" floating around for all industries, not just broadcasting (or solely Clear Channel)...

thinkbigg
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Joined: Mon Oct 12, 2009 6:45 pm

Re: Clear Channel sinks lower still.

Post by thinkbigg » Tue Oct 16, 2012 2:45 am

The company ha a 2 billion dollar note coming due, then another for what, 14 billion? I know they're trying to work out a new repayment structure but come on, anyone read the Bob Pittman article about making radio cool? The stats on money lost there in recent years are staggering! Hard to believe they can pay anyone!

donaldb
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Joined: Wed Mar 16, 2011 1:51 pm

Re: Clear Channel sinks lower still.

Post by donaldb » Thu Oct 18, 2012 12:20 pm

Clear Channel Radio hasn't made a profit since acquiring the last group. The only way they got financing was convincing less means more. Trying to sell :30 spots for 75% of a :60. If it would have worked that would have been 1 1/2 times more revenue. Well we all know that didn't work. So then they were allowed to combine CC Outdoor with Radio and this showed they had some cash flow. Digital Outdoor is what carries this company. They are forcing the radio model that they have created. Syndication on all stations to try and lower the debt. The election is being used so they can let go of all the full-time staff and hire part-time so they do not have to offer health care. Or OBAMA CARE.

freedom
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Joined: Mon Feb 08, 2010 8:31 am

Re: Clear Channel sinks lower still.

Post by freedom » Fri Nov 02, 2012 11:36 am

So, if the memo makes the rounds, and now that it is public, does that mean "it worked". In other words, if you vote for Romney you have a better chance of keeping your job? Just wondering.

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