Citadel continues its losing streak

[passtheword]

According to R&R, Citadel lost $857M in the 4th quarter of 2007. Citadel states that the losses were primarily attributable to lower revenues from underperforming stations in several markets, including Birmingham. I bet I can guess which one of those Birmingham stations they're referring to.

Here's the link to the R&R story:

http://www.radioandrecords.com/RRWebSite/NewsStoryPage.aspx?ContentID=f76keuBzItM%3d&Version=4



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[twinsfan]

always referred to Citadel as Clear Channels Mini-me,  and look at them follow the lead of CC by cutting off the arms and legs of the company when the problem is obviously in the brain

[R.D.P.]

Could it be, the New 94.5?    

R.D.P. <><

 

[OutOfTheBiz]

So the process of "cutting off arms and legs" begins in Atlanta with nearly the entire on-air staff of TWO key stations fired in one day.    The "Leap Day Massacre" they are calling it. 

http://www.accessatlanta.com/blogs/content/shared-blogs/accessatlanta/radiotalk/entries/2008/02/29/229_kicks_eagle.html

Management at Eagles and Kicks Friday dumped nearly the entire on-air staff in what appears to be a severe cost-cutting measure.

[BlueWanderer]

always referred to Citadel as Clear Channels Mini-me,  and look at them follow the lead of CC by cutting off the arms and legs of the company when the problem is obviously in the brain

Totally agree with you.

Citadel deserves it in my opinion. It will be a long time before I'll forgive them for the stupid decisions that resulted in WRAX's ultimate demise. 

[bdcast_tech]

I have worked for Citadel in the past (not in Alabama). When I worked for them, just a couple of years ago, a market that did well had a great deal of autonomy. Of course, as with any of the larger companies, we checked in with corporate on a regular basis but as long as the market was successful (mine was) and you played within the framework (which was pretty loose compared to some other companies), they left you alone.

I worked for them before the ABC deal was closed, and after spending that much money I'm sure their attitude was somewhat different but the reports I get from my former co-workers are not disturbing to me. Again, the market I worked in was and continues to be very successful.

Not defending their actions. I think that lots of churn is a very bad thing. Changes made gradually tend to sit better with listeners and other radio folks, but if a market or station is under-performing what choice do they have but to let it go. Let's remember that this is a business and if they lose money, they can't keep the station on the air indefinitely.

Just my $.02

[passtheword]

So the process of "cutting off arms and legs" begins in Atlanta with nearly the entire on-air staff of TWO key stations fired in one day.    The "Leap Day Massacre" they are calling it. 

http://www.accessatlanta.com/blogs/content/shared-blogs/accessatlanta/radiotalk/entries/2008/02/29/229_kicks_eagle.html

Management at Eagles and Kicks Friday dumped nearly the entire on-air staff in what appears to be a severe cost-cutting measure.

According to that R&R article, part of the plan on improving Citadel's cash flow involves several measures, including format changes. Citadel just flipped smooth jazz WJZW in Washington, DC to oldies right around the time the news came out on the $848M loss. There are also rumors that WYAY in Atlanta may drop country in favor of either oldies or talk.

Are the New 94.5's days numbered...?



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[jay]

are you kidding? what do you mean are they numbered? they just started counting upwards what...a year ago? 

[passtheword]

are you kidding? what do you mean are they numbered? they just started counting upwards what...a year ago? 

Actually, it's been about 10 months now since the official switch around Memorial Day. What makes you think Citadel wouldn't change the format, even if it's only been a year?

Have you seen their ratings? They're pulling basically the same numbers they had after Rick and Bubba left.


_______________________
Radio stations come and go.
Does anything last forever?
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[OutOfTheBiz]

But the overhead on 94.5 is pretty low.   From what I've seen, I'd be more worried if I had a high salary and had been in the building a while.   They're slashing $$$ by cutting talent, not flipping cheap broken stations and hiring in NEW people to run them.

If anything, expect changes on 99.5 and Jox.