CRITICAL MASS
More signs of radio consolidation reaching critical mass:
FCC Chairman Kevin Martin basically gives Congress the middle digit in his attitude of ’I don’t care what is good for the public interest, ‘coz I have friends in high places’ and vows to press on with a vote on media cross-ownership.
The National Association (yeah, right!) of Broadcasters agrees with Chairman Martin, citing the FCC’s research that “consolidation has no statistical effect on advertising rates” Which is kind of like asking a barber if you need a haircut.
Many large radio groups, seeing dwindling sales and dwindling stock prices reward more employees with pink slips in the days before Christmas.
Citadel starts sorting thru it’s stations to see which ones are ripe for a sell-off. And the Clear Channel go-private venture looks like it’s in trouble again.
Consolidation has clearly failed, yet the FCC and the NAB continue to kowtow to a handful of idiots bent on trying to improve their fortunes while the public trust evaporates around them.
–Thanks for reading.
