Look for more Hannity, Limbaugh

Clear Channel added another 200 firings to their legacy. This week it was the intermediate size markets where local “talent” and back office staff got the axe.

What this means is even more clear channel stations carrying national programming and having empty clusters after 9 am running automated.

More than likely this means that where possible, they’ll pull the premiere shows from non-clear channel stations, as they did in the Boston and Raleigh markets.

Next week or two, the axe will hit the major markers. Clear Channel still has that $20 billion in debt hanging over them, and it’s going to come up every year until they “restructure” or a miracle happens.

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3 Responses to Look for more Hannity, Limbaugh

  1. HPaws says:

    I try to listen to local programming. It is difficult. Most local programs, when compared to Rush Limbaugh, are clownish and embarrassing. I would rather read something on the web (local news, weather) in wonderful silence. I don’t need to be hectored into visiting ‘Ma and Pa’s Spatula City’ just off the by-pass near the old drive-in.

    • jpaulwede says:

      The local host here who got canned yesterday was pretty good at doing interviews of local figures. So the days of hearing the mayor, congressional reps, state assembly reps, police chief, governor, common council, DA are seemingly over. It was always good to hear local voices talking about local issues.

  2. Art Stone says:

    The odd part is Thomas H Lee Partners and Bain Capital went way out of the way to structure the “Going Private” transaction so that the foreign investors who loaned the money would be insulated from the rules about foreign ownership of American radio stations (via debt instead of equity). The Mays family was part of the fiction that the Private Equity money was not really making all the important management decisions.

    Now it’s all out in the open – the PE firms are crunching the numbers through analytics and looking at cost per hour of each program and the ratings and blindly swinging the axe without any real thought process – what I like to call “Management by Excel Spreadsheet”.

    The basic principle of PE firms is you take a struggling company, buy it up cheap, set aside everyone’s emotions and cut the costs to the bone, then resell the company and then run out the door before the new buyers realize your temporary cost cutting destroyed the soul of the company and the loyalty of its customers, employees and suppliers.

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