Saturday, February 7, 2009
Radio: Austere Channel
Did someone say that the Clear Channel budgetary crisis is even worse than anticipated?
Did someone at Bain Capital and Thomas H. Lee tell Mark Mays and his fun lovin’ chiselers, “We’re in a hurry…Chop, chop?”
If you are a Clear Channel employee are you at risk of losing your job? Do you work in billing or traffic? If the answer to the latter is yes, the answer to the former is also yes – depending on your market size.
With Bain Capital and Thomas H. Lee deep in the throes of buyer’s remorse over their Clear Channel acquisition, reliable sources say that they will announce their new regionalized traffic and billing hub-and-spoke network on Friday, February 20.
In this new scenario, larger market clusters will oversee those departments for smaller markets, thus eliminating those positions in the latter markets.
Spywitnesses at Clear Channel corporate also maintain that an analogous 100-mile radius hub-and-spoke management plan will also be announced shortly; possibly in tandem with their traffic and billing announcement. This plan would purge market managers and assistants within a 100-mile radius of a larger market.
I’m only guessing here – but I’d save those whack-eroos for the next go-round. March? April?
Here’s the dark humor joke making the rounds at the Clear Channel clusters on that one: What will save our manager from getting fired is that the new Bain-Lee Clear Channel wants to look at itself as family. And our manager is a member of that family - the family dog.
There’s also the most obvious of imminent job cuts – program directors and air talent – though no date has been confirmed for that carnage other than it being inexorable and sooner than later. *
It’s a problem not exclusive to Clear Channel. We’ll see a few radio chains filing for financial bankruptcy this year. Their moral bankruptcy occurred some time prior.