Looks like the article I mentioned the other day is slowly coming true in regarding to Clear Channel possibly going bankrupt this year.
It's getting scary for Clear Channel right now. Here is a list of people that are now jobless:
Kathy Deane of KRBB-FM in Wichita, Kansas - producer of "Brett and Tracy Morning show," which is top-rated.
Troi Tyler & DJ Irene Mojica of 102.7 WVAZ-FM in Chicago
Jeff Murray of WKSC-FM "103.5 Kiss FM" in Chicago.
Bill Cochran of WNUA-FM -- also in Chicago
Jake Duffy of KMFX-FM 102.5 in Rochester, MN
Mike Fleming of WREC-AM 600 in Memphis, TN.
There were also reports of staff being let go in the Tucson, AZ market.
Steve Riggs, director of engineering in Clear Channel Boston, who had given the company 18 years of service, was also let go.
More info about the Clear Channel cuts here. The Chicago Sun-Times described this as a "radio bloodbath."
I hate to be negative, but the worst is yet to come. My guess as to what will happen is that we will start to hear less local content, and more syndicated content. This way, less local DJ's would have to be hired and it could save money. There are several personalities that have syndicated material, such as Ryan Seacrest out of KIIS-FM in LA, Kidd Kraddick and Jackson Blue out of KHKS-FM in Dallas Ft. Worth.
Clear Channel does not stand alone in this. Cumulus is requiring their employees to take five days off UNPAID the next two-months.
More importantly, however, rumors have unfolded that Clear Channel may possibly file for Chapter 11 bankruptcy in August. (I wonder if Clear Channel will also start getting rid of HD channels, as well? If they do that, IBOC might be the next company to bite the dust!)
All I can say is, be afraid! Be very afraid because I think radio might change drastically if things do not improve soon.
I will write more when and if anything else develops.
Until next time...That is all.
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