Parent firm of WSPD owner loses $418M

CC Media Holdings Inc., the parent of radio broadcaster Clear Channel Communications Inc. and operator of five Toledo-area radio stations, this week reported a first-quarter loss of $418 million.

The disappointing earnings, which followed two rounds of layoffs affecting 2,400 employees, compare with an $800 million profit in the year-earlier period.

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20090513/BUSINESS0...

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Holy Crap

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Clear Channel has to pay for the bloated 400 million dollar Limbaugh contract. Everyone else needs to tighten their belts. http://mediamatters.org/columns/200905050007
I tell you as I've said for weeks Troy Neff is looking much better as a "For Free" Speedy talk show host. This is how corporate America treats working Americans.

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Rush's salary is derived from a percentage of the 600 plus Clear Channel radio stations across America advertising revenue.

So the advertisers are paying, not Clear Channel.

And that contract is spread over eight years.

Hell, Clear channel's owner has been running it into the dirt for years now, why if it wasnt for Buckeye Cable propping it up they'd have been gone years ago...

er, wait a minute....

(ok, puppy's joke about Troy Nerf was funnier than mine, I'll admit it...)

The real culprit here is the FCC and the Federal Government who decided it was in the public interest for a corporation to own multiple stations in one town.

No offense, Fred, but ever since Clear Channel, Cumulus, and a few others bought up the vast majority of stations nationwide, radio has drifted away from being purely local to the point where I can travel from coast to coast and hear the same people, the same songs, over and over. IMO radio has become a creative and musical wasteland- and this coming from a Radio-TV-Film graduate at BGSU who went to school with Scott Sloan, Audree Sterling, and a few others who've done pretty well in the business.

I can't imagine that a Gary Burbank from WLW in Cincinnati...a Dick Purtan up in Detroit being able to get started in the business today because the focus seems to be more on if you're marketable to be syndicated across the country. At least, that's what it appears to be to me.

The best thing that could happen to radio is to break up the conglomerates and return radio to the days where you could get a wide variety of air talent and music from place to place.

Political Championship Wrestling- putting politics in proper perspective by presenting it as pro wrestling.

Coming in January, a political satire about the sorry state of American Politics- Jesusland vs. Progressiveville.

Once again American Heartland, I agree with you completely

Pink Slip

Yeh I remember to old day when I first started and I got to pick every song I wanted to play on air. No one told me what to play or say, I had carte blanche to do whatever I wanted. I remember when I was a kid and Detroit radio was the only outlet for the Beatles, Stones, Motown etc. You couldn't drive from city to city and hear the same songs back in those days.
And television is the same way. Man when I was growing up I felt bad for the kids who didn't get to see Bozo the clown, the Ed Sullivan show, and some of the other shows that ran in Detroit.
I don't understand people who complain about local content and then ignore the fact that we air a local morning, afternoon, and evening show, local news from 6a-6p, And local shows throughout the weekend including local sports. Add to that our involvement in local charities and I'd say we're pretty local.
As for the musical wasteland part, that is audience driven. If the audience would support a more eclectic sound like you might find on a colleg station then those stations would be HUGE!. They aren't. And quite often the students don't bother to listen. I grew up on WABX in Detroit which offered a wonderful mix of rock, jazz, soul etc until they realized that people had specific tastes and most weren't interested in expanding thier horizons. Even when I first got into radio I understood it's a business. And like any business it tries to give the customer what they want as often as they want it. And like any business when they fail to do that they lose customers and revenue.
If I were a liberal I'd say we should bail out the radio stations because they have so many employees and provide so many jobs to minorities and women and provide employment to thousands of tax payers. But I'm not , so radio will do whatever it needs to do to be successful and some will be here in the next year and some will not. And some will listen and some will not. And so it goes.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Let me say this, it takes a special breed to want to get into radio. I know because I wanted to at one point of my life growing up listening to Purtan and Burbank and WLW in the late 80's/early90's. But in the end, I decided I was more of a writer than a performer.

Even working for WFAL at BGSU, there were any number of times where I got my hand slapped by the PD because I 'deviated 'slightly' from the playlist.

Fred, I get the whole business part. My question to you is this: based on your vast experience in radio (I've listened to you on and off going back to grade school), how much different do you think the radio business and product would be if there was less corporate ownership. Do you think the product overall would be better or worse?

That's my real complaint. I don't have an issue with WSPD, just the corporationization of the industry. I don't necessarily believe that bigger translates into better. But that's just my opinion.

Political Championship Wrestling- putting politics in proper perspective by presenting it as pro wrestling.

Coming in January, a political satire about the sorry state of American Politics- Jesusland vs. Progressiveville.

The overall product? You grew up listening to Purtan, Burbank and WLW so for you the product then was great. But for a lot of small market listeners the local station sounded more like the Scott High School station that real radio. And even today the WXUT talent is a mix of people playing with thier friends and screwing around for a two hour shift. I worked in a small market so I know how bad it can be. And one thing the corps did do is bring major market talent into the small markets so listeners there could hear as you did really talented people.
Recall that at one time there were small auto companies around the country doing thier thing. GM and the big boys bought them up and gave the country a common product. Did that hurt or help the auto industry? Did big companies hurt or help radio? Depends which side of the mic your'e on I guess.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Cool. Thanks for the insight Fred.

Political Championship Wrestling- putting politics in proper perspective by presenting it as pro wrestling.

Coming in January, a political satire about the sorry state of American Politics- Jesusland vs. Progressiveville.

"radio has become a creative and musical wasteland"

Yes, but is this the fault of the radio biz, or the music biz, or both?

It seems that at least in the music biz, there are more of the Lou Pearlmans than there are the Ahmet Erteguns, the Sam Phillips, the Barry Gordys, the Chess brothers.

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