[BC] fallout from cuts

[Scott Cason]

>>If you think that the failure of one of these companies will not
effect YOUR job, you better wake up!  Just think if the value of station
drops to "fire sale" level.  That would not be good for broadcasting as
a whole.

If stations drop to "fire sale" levels, it means that people who know
and love broadcasting will be able to finally own stations and try their
hand and programming the way it used to be.  I think it would be
excellent for radio because these stations have been over valued for way
too long.  Clear Channel road in and with their deep pockets bought up
as many stations in a market as they could to eliminate competition, in
the process paying astronomical prices for these stations.  Yet they
still think they can get 8 to 10 times cash flow in the smaller markets.
Good luck.

Let's look at Radio One.  The company's stock has lost 80% of it's value
over the past year.  They had to sell the Los Angeles station, one of
the biggest money markets in the nation.  Yet Liggins is getting a 70%
salary raise over last year and a $1 million "signing" bonus AND he's
being compensated to the tune of $4.8 million because of losses he
incurred when forced to repay a company loan several years ago.  WTF?!
What kind of bonus will he get if ROIA is de listed from the NYSE?  

I don't have any ill will toward anyone, however when you have a
situation like Alfred Liggins taking a retroactive pay raise while the
stock of his company is in danger of being delisted, you have to
question the motives.  You have Clear Channel suing the banks so the
Mays can get their payoffs, again, you have to wonder exactly what is
the motivation here.  Radio companies like these have single handedly
destroyed radio.  The pendulum is starting to swing back in the other
direction, looks like it's going to take some heads off with it.  It's
not going to be pretty.

Scott Cason
LaGrange Communications