Can Citadel Broadcasting survive?

[Sean Smyth]

kvahey@comcast.net wrote:
> Citadel is in big trouble. Their stock is down to $1.03 this morning
> and yesterday they virtually eliminated the newsroom at WLS Chicago
> and fired John Gambling at WABC. Revenue at WPLJ is reported to be
> down 50% from a year ago.
> 
> The morning show at WLS is rumored to be the next to go at it appears
> WLS will be forced to carry Imus who never did well in Chicago.
> 
> If they are making these kind of drastic cuts at the top it doesn't
> bode well for their clusters in smaller markets.
> 
> I guess in retrospect Disney saw it coming and bailed out.

Print is hurting worse than this, believe it or not. Layoffs all around
yesterday, with massive cuts at the MediaNews-owned L.A. Daily News and
its other southern California papers, more cuts at the company's San
Jose Mercury News due next week, and major layoffs at Tribune-owned
Newsday (described as a "massacre" in Friday's N.Y. Post). Everyone
blames the Internet for print's problems; that doesn't seem to be
playing as prominent a role in radio's struggles.


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