[BC] fallout from cuts

[W2XJ]

I am not so sure I want to see broadcasting return to the 'good ole days'.
That means racing to the bank on pay day and working with equipment that is
much less safe and less maintained then it is today. I need only to look at
some markets where I once worked and compare them to 'the day' and how much
better the stations are under conglomerate ownership.  Are the formats
better? Don't know, don't care. Our job is to keep those electrons flowing,
who cares what flows on those electrons as long as there is a steady pay
check.


On 5/2/08 4:39 PM, "Scott Cason" <scott at lagrange-com.com> wrote:

>>> 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
> 
> 
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