CBS Corporate in Manhattan is planning major cuts in its radio division--we reported it here--and there's a great degree as to reasons why.CBS Radio, as part of the overall various divisions of the company pie, is a profitable part of the division and is worth about $9 billion --a sale of certain radio stations(which has been rumored for months and included this god-awful possibility) would enable the company to both withstand either money-losing divisions or enhance less profitable entities (like magazines and other publications)
It is also known that CBS Chairman, Les Moonves, wants to dump several radio outlets and has only hesitated from direct action because his confidants have urged him to hold out because of present market conditions.
Widespread cuts will affect the entire radio division including stations in NY, LA, and specifically, I'm told, San Francisco.
Who would be affected? More senior staff than you would expect. Everyone, potentially, in all departments, including both Sales, Promotions, and On-Air. A secret "black book" that contains individual names and departments where potential cuts exists for each market, SF included.
My spy, who has access to the book, has said potential cuts of Bay Area personnel, "would astound you" (me), although the spy himself couldn't tell me just yet out of a confidence clause. The source indicated that several "prominent" on-air positions were on the list.
The cuts are to take place, "sooner rather than later." We'll keep you posted.
You may have noticed retirements of heritage on-air personnel. That is the first clue. Usually those legacy people are told well in advance that things are coming and they would be best to retire under current protocols rather than take the hit with new, cost-cutting evictions down the line. It happens a lot in business. It is not new to radio or to San Francisco radio, or to the best in San Francisco radio.
ReplyDeleteKCBS is becoming KGO with the hires of Kevin The Rat, Jenna Lane, and Jennifer Hodges. I've also noticed a lot more entertainment stories and happy talk which is also an indication of lowered standards
ReplyDeleteThe ND of the CBS radio newstalk station in Las Vegas just recently left.
ReplyDeleteThat leaves NO in the field radio reporters left in Vegas.
Hope he turned off the lights.
Hmph, see what happens when you got a couple of Steins & Rosenbergs running the show. Here's a couple of shekels for you.
DeleteGood grief! I hope we don't have any disasters any time soon. It may just be we'll have to rely on some outsourced moron from India telling us there's an earthquake in our neighborhood -- and he/she will only know that from watching CNN.
ReplyDeleteAnother wonderful post Lieberman! You are on a roll. For those of you who think he's full of hot air, well, even Daniel Murphy can't hit a homer every time he's at the plate.
Col. Jessup, you're under arrest.
Thanks Rich. It's your posts like this and others that make me love your blog. Clear, concise and informative.
ReplyDeleteThe San Francisco bay area need KCBS. Let us hope that this station is not one which is going to be sold off.
ReplyDeleteMaybe KCBS will replace all-news in mid-day, evening, and overnight hours with syndicated talk shows.
ReplyDeleteThat would cut costs.
Remember too that if these cuts occur, they're being done for one reason and one reason only: To boost the company's stock price.
Once upon a time, success for a company was measured by how many people worked for it, how much of a market share it had, and how much profit it made.
Today, the only yardstick for success in publicly-traded companies is the price of it's stock.