Anybody Surprised?

[Radknowski]

Topping tonight's Can I Get A Witness News:

BIA: Year will close down 7%.BIA Advisory Services has issued its final forecast for radio revenues, now projecting revenues will fall 7% this year. That's a bigger drop than analysts predicted earlier this year. BIA estimates revenues will hit $16.7 billion, with another drop expected next year.

 

Citadel faces NYSE delisting.The New York Stock Exchange has put Citadel on notice that it's failed to meet its minimum market capitalization criteria and faces delisting. The company says its goal is to stay on the NYSE and it will submit an outline within 45 days on how it plans to regain compliance.

[Ed Trefzger]

What would revenues have been had it not been a presidential/senatorial/congressional election year?

[SirRoxalot]

Eye Witless News Reports that Citadel Broadcasting will close its corporate office at 142 West 57th Street, 11th Floor, New York, NY. Corporate staff will be released, and duties will be shifted to the Citadel NY cluster. Space will be reserved at the WABC offices at 2 Penn Plaza, 17th Floor, New York, NY for any corporate representatives that need to attend meetings in NYC.

There will also be major reductions in central staff at the corporate offices in Las Vegas. HR duties will shift to local group finance managers, who are more familiar with state and local work rules and regulations. Regional Vice Presidents will also be cut, and their management duties absorbed by local group managers. Legal services will be contracted on an as-needed basis. All HD radio development and installations are shelved until further notice.

All bonuses for at the corporate level have been suspended, and no additional compensation will be paid to anyone on the corporate level except their contracted salary.

Nostradamus has warned that blood will also rain from the sky, locusts will devour East Aurora, and a plague of legless frogs will invade New Orleans on the day that any of the above actually happens.