Citadel Files For Bankruptcy

[soonerstan56]

Citadel who owns a few radio stations in this market seems to be in financial trouble.
While no one should be happy to see a company of any size struggle,part of me hopes this may lead to more locally owned and controlled media.

NewsOK

I think less corporate media could be good.What are your thoughts?

Stan

[Kerry]

It seems a lot of companies spent too much money buying up other companies. I am seeing a growing trend in the most recent bankruptcy filings reported in the media. Many of them are citing expenses related to recent mergers and acquisitions as the leading cause of the bankruptcy.

My Way News - Citadel Broadcasting files Chapter 11 bankruptcy

Much of Citadel's debt burden stems from its $2.7 billion purchase of ABC Radio from Walt Disney Co. in 2007.

[bluedogok]

It seems a lot of companies spent too much money buying up other companies. I am seeing a growing trend in the most recent bankruptcy filings reported in the media. Many of them are citing expenses related to recent mergers and acquisitions as the leading cause of the bankruptcy.

My Way News - Citadel Broadcasting files Chapter 11 bankruptcy

Buying too much on credit.....sound familiar?

[Kerry]

Buying too much on credit.....sound familiar?

That is exactly the problem.

[sumrzz]

Stan, as a person who has worked in radio for years I can tell you that will never happen unless congress reverses their ownership rules. As for now major companies can buy up to 48% of a radio market. Since it's inception in the mid 90's our industry has seen the loss of millions of jobs due to the Walmart affect on radio. Congress ruined radio as it was and will continue it's demise till such a time congress smartens up and reregulates a deregulated industry.

Sadly, I can guarantee you that it won't happen on a Republican watch.
Most Republican leaders are happy with companies having their way with business regardless of the outcome of the such an entertainment entity.
They should have never screwed with radio. What you hear today is a result.

[soonerguru]

Stan, as a person who has worked in radio for years I can tell you that will never happen unless congress reverses their ownership rules. As for now major companies can buy up to 48% of a radio market. Since it's inception in the mid 90's our industry has seen the loss of millions of jobs due to the Walmart affect on radio. Congress ruined radio as it was and will continue it's demise till such a time congress smartens up and reregulates a deregulated industry.

Sadly, I can guarantee you that it won't happen on a Republican watch.
Most Republican leaders are happy with companies having their way with business regardless of the outcome of the such an entertainment entity.
They should have never screwed with radio. What you hear today is a result.

I agree 100 percent with you. The Clear Channeling of America has not been good for radio. Maybe this is why radio is dying on the vine.

[Bunty]

I agree 100 percent with you. The Clear Channeling of America has not been good for radio. Maybe this is why radio is dying on the vine.

The Internet and the iPOD is surely helping to kill off radio. And HD radio probably isn't catching on. If you got a strong analog FM stereo signal, HD sounds no better to my ears.

[Kerry]

Sadly, I can guarantee you that it won't happen on a Republican watch.

Most Republican leaders are happy with companies having their way with business regardless of the outcome of the such an entertainment entity.
They should have never screwed with radio. What you hear today is a result.

Um - Democrats have been in control of the House of Repreentatives for 66 of the last 80 years and regulating the industry IS screwing with radio. I think what you meant to say is "They should keep screwing with radio."

If dergualtion has led to few jobs then so be it. Radio stations are not in the business to creat jobs. They are in business to deliver content people want listen to so they can sell advertising - period. To my knowledge there isn't some genre of music or talk out there that is undiscovered and not allowed on the radio. If you know of one please share.

Alas, I think Bunty is correct. Other technologies have come along that have replaced the radio for many many people. Personally, when driving around town I listen to local radio but when I make my weekly drive to Atlanta I either log on to Rush 24/7 in the car and catch up on programs I missed during the week or I listen to movies on the in-car DVD system. I also log in and listen to WWLS a few hours a week, especially if the Thunder are playing on Monday or Friday nights. If all of that fails I talk on the phone (hands free of course).

[flippity]

Stan, as a person who has worked in radio for years I can tell you that will never happen unless congress reverses their ownership rules. As for now major companies can buy up to 48% of a radio market. Since it's inception in the mid 90's our industry has seen the loss of millions of jobs due to the Walmart affect on radio. Congress ruined radio as it was and will continue it's demise till such a time congress smartens up and reregulates a deregulated industry.

Sadly, I can guarantee you that it won't happen on a Republican watch.
Most Republican leaders are happy with companies having their way with business regardless of the outcome of the such an entertainment entity.
They should have never screwed with radio. What you hear today is a result.

walmart effect?

[skyrick]

I think it's ironic that a company that borrowed itself into bankruptcy owns the flagship station, WABC, of the Rush Limbaugh Show, as well as the ultra-right-wing (Rush, Hannity, Beck, Mark Davis) WBAP here in DFW. I wonder if they ranted about their boss's fiscal irresponsibility on their shows yesterday? Nein, nein. Rush, the Obergruppenfuhrer of Propaganda for the GOP, probably told them to blame it on Obama.

[Kerry]

Citadel doesn't own the Rush Limbaugh Show. He doesn't even broadcast from their studios. Rush (and the others) are syndicated. They appear on thousands of radio stations and the internet - so they don't even need a radio station.

[scapula]

Citadel is partially to blame for The Spy's going into hibernation for the past several years. They own the freq that Ferris O'Brien uses in this area.

[skyrick]

Citadel doesn't own the Rush Limbaugh Show. He doesn't even broadcast from their studios. Rush (and the others) are syndicated. They appear on thousands of radio stations and the internet - so they don't even need a radio station.

You'll note I said "owns the flagship station, WABC, of the Rush Limburger Show". You are right, he broadcasts from FLA, not NYC, but WABC is the flagship station of EIBN. Correct also about syndication, so that nullifies my "boss's" comment.

Rick

[bluedogok]

Sadly, I can guarantee you that it won't happen on a Republican watch.
Most Republican leaders are happy with companies having their way with business regardless of the outcome of the such an entertainment entity.
They should have never screwed with radio. What you hear today is a result.

The expansion of radio ownership has occurred under the leadership of both parties, the one big change in ownership rules occurred under Clinton and the other was under Bush II. I don't think either party is going to change a thing in regards to the ownership rules.

[Kerry]

I just find it scarry that a naturally occuring property of physics is regulated by the US Government. If they can regulate a portion of electromagnetic spectrum what is to prevent them from regulating the entire spectrum?

[fuzzytoad]

I just find it scarry that a naturally occuring property of physics is regulated by the US Government. If they can regulate a portion of electromagnetic spectrum what is to prevent them from regulating the entire spectrum?

which portion of it do you think is unregulated?

[skyrick]

which portion of it do you think is unregulated?

Infrared, x-ray, ultraviolet, to mention a few.

Rick

[fuzzytoad]

Infrared, x-ray, ultraviolet, to mention a few.

Rick

Except that they are regulated in that if you operate any device which uses those spectrums, you aren't allowed to emit a signal strong enough to disrupt other RF signals. Meaning you're stuck to tv remotes, medical scanners and night-vision goggles. you can't use them for communication purposes, not over a long enough range to be considered useful.

[dismayed]

The Constitution itself gives the feds the exclusive right to regulate standards and measures....