Political Bias Could Lead To Citadel-ABC Radio's Bankruptcy

[bijou]

In a textbook example of the dangers of placing personal politics ahead of good business sense, past mistreatment of a top conservative talker is partly to blame for a major radio operator's impending bankruptcy.

But don't take our word for it: stunningly, Citadel Broadcasting (which absorbed ABC Radio into its operation several years ago) admits the loss of Sean Hannity's syndicated radio show has cost it millions in desperately-needed cash flow at a time when corporate debt and slow ad sales are crippling its operations.
 ... As we'd reported in 2008, a fed-up Hannity dumped the firm's syndication arm, then called ABC Radio Networks, for Clear Channel's Premiere Radio after disturbing incidents behind the scenes, including the refusal of one Citadel exec to board a plane with the longtime conservative talker. ...

http://radioequalizer.blogspot.com/2009/11/near-bankruptcy-broadcaster-faults-loss.html

[NHSparky]

The word, boys and girls, is "schadenfreude."

[bijou]

The word, boys and girls, is "schadenfreude."

It would, as Oscar Wilde once said, take a heart of stone not to laugh.

[SSG Snuggle Bunny]

As we'd reported in 2008, a fed-up Hannity dumped the firm's syndication arm, then called ABC Radio Networks, for Clear Channel's Premiere Radio after disturbing incidents behind the scenes, including the refusal of one Citadel exec to board a plane with the longtime conservative talker.

In addition, Citadel took a hit from the passing of Paul Harvey. While that may have been unavoidable, chasing away Hannity was inexcusable.

From RBR:

The big drop came in the radio network business, now called Citadel Media. Net revenues plunged 31.5% to $29.4 million. The loss of Paul Harvey, who died, and Sean Hannity, who took his show elsewhere, accounted for $8 million of the $13.5 million decline. Segment operating income dropped 92.3% to $500K from $6.5 million a year earlier. The drop in revenue was slightly offset by an 18% reduction in costs.

http://radioequalizer.blogspot.com/2009/11/near-bankruptcy-broadcaster-faults-loss.html

[thundley4]

Damn conservatives are driving businesses to bankruptcy. [/du mode]

[bijou]

Beat you 

[USA4ME]

...including the refusal of one Citadel exec to board a plane with the longtime conservative talker.

An executive that's never heard of "Don't bite the hand that feeds you."  Wish I knew this idiots name.

.

[Ptarmigan]

Gees, liberals are good at destroying themselves. Schadenfreude.