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Posted on 04/06/2012 7:56:02 AM PDT by Til I am the last man standing
Rush's (and Levin's) audience will find him, no matter where he is. This is bordering on paranoid hyperbole.
So you’re saying that they are in so much debt they can’t eat out and have to “eat our own cooking”? lol! I think their eyes are bigger than their stomachs and if they don’t watch out they are going to have to take a huge enema.
“I don’t like anything about that banjo-pickin’ clown.”
Fair enough. I like him, but sort of like the way I like watermelon rind pickles. In modest amounts at infrequent intervals. I am certainly not going to go on a steady diet of either the pickles or the Huckabee.
When I think of Huckabee, I think of his horrible demented son who hanged that poor dog while he was at camp.
John Dickey says, “We are in favor of eating our own cooking.”
Sounds to me like John Dickey is in favor of attempting to impregnate himself. Because that’s what is going to happen if he replaces dumps Rush for Mike Huckabee.
At the very least he’ll need a high enema.
When Cumulus was first formed, Lew and John got into a bidding war with Randy Michaels and Jacor to see who could accumulate the bigger/better broadcast conglomorate.
Michaels sold Jacor and it became Clear Channel.
Cumulus, as well as Clear Channel, and others were spending money like druken sailors. They would pay 5, 10, 20 times book value for a station just to get a leg in the market.
A lot of times they would buy a fringe station near a large market and move the transmitter site in order to gain access to the larger market. This was done by everybody, not just Cumulus.
When the economy started to turn, radio companies and especially Cumulus were saddled with a ton of debt as a result of their expansion. The biggest expense in radio is personnel, so that’s where they trimmed.
That’s why the Bob and Tom’s and the Delilah’s of the industry are syndicated. It’s cheaper to pay one high salary and then place the program in multiple markets.
If you own the station, you save the day-part personalities salary and you maximise the commercial avails. If someone else owns the station, you can sell the syndication and hold a portion of the avails for yourself.
Cumulus Media, at one time, had a stock price of around $50 a share. I believe they are now trading at less than $10 bucks. Some of the purchases were combo deals of cash and stock.
Do they owe a ton of money....you bet. Are the Dickey Brothers using their properties for political purposes? No way. It’s about ROI and that’s all it’s about.
List of markets here:
http://www.radioink.com/goout.asp?u=http://www.radioink.com/Article.asp?id=2131644&spid=24698
Seems some inside the trade believe the Dickeys to be boobs.
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