- paterson1
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
My Audacy stations? 99% of Canadians have never heard of them or listen to any of them. I can't see Audacy really losing any stations, unless a particular creditor tries to put up a road block. With the number of outlets the company owns and operates and with the restructuring of the debt they should be fine. Bet they will be out of Chapter 11 sometime in the summer or fall. Lots of political advertising is coming their way this year.
- RadioActive
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
Yes, it was an American-centric article, but I thought it was interesting. And the reason I keep posting stories on this is threefold:
1) It's the second biggest radio owner in North America and it's a sign of what's going on in the radio industry overall.
2) It's a lesson in what happens when an owner cares only about profit and doesn't pay enough attention to their product, inevitably causing it to self destruct. Perhaps a lesson for the rest of them, including the big ones on this side of the border.
And most importantly,
3) While you're understandably focused on Canadian radio (and yes, 99% of Canadians have probably never heard of Audacy, but the people who gather here aren't part of that 99%) we also have a fair number of members from Buffalo and Western New York who visit here regularly. They have six stations in the area they do listen to, and they have concerns about what happens to them.
Remember that SOWNY stands for Southern Ontario/Western New York. So the Audacy story fits the mandate.
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Thread Starter- Forward Power
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
RadioActive wrote:
What Audacy's Chapter 11 bankruptcy means for your radio stations
I really don't like when the media use these types of "you" and "your" lines, things like "your children", "your RRSP", "your pet(s)", "your radio stations" etc., assuming that everyone has those things. I don't have kids (and never will), I don't have pets (and never will), and so on and so forth. The now-CTV2 stations used to do this all the time in the A-Channel years, esp. in Ottawa.
- paterson1
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
Yes, it was an American-centric article, but I thought it was interesting. And the reason I keep posting stories on this is threefold:
1) It's the second biggest radio owner in North America and it's a sign of what's going on in the radio industry overall.
2) It's a lesson in what happens when an owner cares only about profit and doesn't pay enough attention to their product, inevitably causing it to self destruct. Perhaps a lesson for the rest of them, including the big ones on this side of the border.
And most importantly,
3) While you're understandably focused on Canadian radio (and yes, 99% of Canadians have probably never heard of Audacy, but the people who gather here aren't part of that 99%) we also have a fair number of members from Buffalo and Western New York who visit here regularly. They have six stations in the area they do listen to, and they have concerns about what happens to them.
Remember that SOWNY stands for Southern Ontario/Western New York. So the Audacy story fits the mandate.
Actually I wasn't talking about whether the Audacy bankruptcy story should be on here. Of course it should, and I have initiated a couple of threads on the story and their stock market performance months ago. So I guess I can say to you what you like to say to me.... You missed my point.
Just the term "your" is a bit persumptious, as Forward Power mentions. True all of the posters on SOWNY likely know about Audacy and a good chunk of registered users will at least be familiar. But how many actually listen to any of them will be much less.
Interesting that the Audacy brankruptcy hasn't even seen the light of day on the Detroit Radio Discussions site and in Buffalo Radio Discussions we are talking about it quite a bit more. Even with six stations in Buffalo, SOWNY has more comments and views. However, RA has posted a lot on this story. And Michigan Radio Discussions is all over the story.
Anyway didn't mean to offend, just making an observation.
- RadioActive
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
Buffalo News' Alan Pergament brings up the question I've wondered about ever since they filed for bankruptcy: what might become of the six Audacy stations in Western New York, that includes some of its oldest outlets?
He speculates about what might happen if some of the stations are sold. Like WGR, one of the oldest in the city.
"The Buffalo Bills and Buffalo Sabres eventually could be affected if Audacy sells WGR, which carries the games of the professional sports teams and airs shows programmed by the teams. A new owner may look at the rights fees, decide they can’t make money on the deals and walk away."
Some of the weaker stations may also be in the ailing company's gunsites: WWKB 1520 and The Wolf at 107.7 are just two he mentions. And what will maverick WECK owner Buddy Shula do if any of them end up being sold by Audacy?
They're questions worth asking, and Pergament looks into the possible answers.
Future of WBEN, WGR and all local Audacy stations up in the air
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Thread Starter- paterson1
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
Last month Audacy put together another $60 million sale of assets which included builldings and land. They did sell some land worth $300,000 in Hamburg NY which is a suburb of Buffalo. More from Insider Radio...
- Marc1178
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
There is a number of stations that are owned by them, and make it into part of SW Ontario from Detroit.
97.1 WXYT-FM, Sports
98.7 WDZH, Alternative
99.5 WYCD, Country
104.3 WOMC, Classic Hits
950 WWJ, All News
1270 WXYT-AM, Sports Betting
AM 1270 has the lowest rating out of all of them.
- RadioAaron
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
Some of the weaker stations may also be in the ailing company's gunsites: WWKB 1520 and The Wolf at 107.7 are just two he mentions.
Both of those stations serve the cluster and company in non-traditional ways. The Wolf serves as a flanker to cost WYRK rank so that WSKE (and formerly WTSS) get on more buys. WWKB serves as a market clearing house of their BetQL partnership.
The cluster as a whole is likely profitable. Since the debt has been re-structured, there isn't an urgent need for fire sales, though we may see a few strategic offloads.
Last edited by RadioAaron (February 4, 2024 4:07 pm)
- Tomas Barlow
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
After checking to see if reputable news organizations are also reporting this, it appears to be factual.
- RadioActive
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
The Buffalo News has a thought-provoking column from Alan Pergament about what this might mean for WBEN-AM.
But perhaps far more eye opening is the story at the bottom of the page about the salaries being paid to some on air talent at WIVB. Buffalo may no longer be the biggest TV market, but I'm not sure you could live on what their current opening for a "multimedia journalist" pays.
"It (the job qualifications) actually is a laugh-inducing list before you get to the punchline: the salary: $17.75 to $18.75 an hour.
In other words, you can make almost as much money as you would if you worked at a fast-food restaurant without the college degree that might have put you in debt.
The hourly salary range requires an additional skill: math.
The salary range is $36,420 to $38,500 a year, without overtime."
Wow. Rarely has being on TV paid so little.
George Soros' purchase of debt of WBEN's owner sends shock waves in radio circles
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Thread Starter- RadioAaron
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Re: Radio Giant Audacy Prepares To File For Bankruptcy
Median house price in Buffalo is $170K
Median house price in Toronto is $1.06M
Even after currency conversion, a reporter in Buffalo making $37K is better off than one in Toronto making $80K
Last edited by RadioAaron (February 20, 2024 9:02 pm)