Clear Channel Radio has sent out orders to its managers to cut more costs, immediately, like:

 “all research monies after 2/1. All advertising and promotion monies after 2/1. All new sales hire guarantees not already implemented, effective immediately (do NOT hire any additional salespeople, effective immediately). All new hires budgeted but not hired, effective immediately (do not hire any additional new employees). Any/all discretionary monies (i.e., travel, meals and entertainment) for your market. Additionally, you are not to replace any departing personnel without specific approval from your EVPO.”

That’s John Hogan, the CEO, speaking clearly to his captains and majors. More at Radio-Info.com and other trades. These are the top stations in the country. Clear Channel put together the biggest post-deregulation stock play by buying them up with Wall Street money. Now they’re selling to private equity companies because they can’t keep Wall Street’s attention, and they’re having problems keeping the stock price close to its promised sale level. Not a pretty sight. CC already dumped a bunch of longtime employees at the end of the year. Now they’re clamping down on the expenditures you’d need to maintain the old winning ways those stations used to have. Of course, the rest of the big-market radio biz is in equally bad shape, so I suppose they don’t expect the competition to take advantage of this voluntary shutdown of growth-inducing action. Oh, well, when the big deal’s done, CC will no doubt emerge as an agile, progressive, innovative radio company, right? And aardvarks will grow wings.


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hertzsketch1
Heinrich Hertz's experiments proved the existence of electromagnetic radiation. Cycles-per-second, the standard measure of radio wave frequency, was named for him. He died in 1894, at 37. Wikipedia: Hertz

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STERN-3
What do you do with a problem like Howard? After decades of profits and FCC indecency fines as routine budget items, Howard Stern, king of all pottymouth radio guys, followed his enabler Mel Karmazin to Sirius Satellite Radio, leaving CBS to make up a hundred million in revenue (They sold stations) and fill the void for the half of Howard's loyal audience who didn't choose to buy a new radio and pay fifteen bucks a month for a few more, ranker epithets.
Wikipedia: Stern

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PALEY-S
CBS might have become the Cigar Broadcasting System. William S. Paley was the scion of the family business. In 1927, his cigar tycoon dad, Samuel, bought the struggling network of early radio stations from a group of poor schlumps who were trying to – would you believe: sell programming to radio stations! Every syndicator since has had to relearn that this doesn't work. Bill and his dad figured out the right business model -- you sell commercials to advertisers, and give the programs to stations. Got it?
Wikipedia: Paley
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