Citadel Communications came out with a pretty gloomy fourth quarter revenue result last week — and now the company is already making some cuts — according to FMQB.
“The time for talk is over, and it’s time for the walk,” CEO Farid Suleman saidl. “We have our work cut out in a lot of markets.”
R&R is reporting a number of cutbacks in top Citadel markets - including New York, Chicago and LA.
Locally, Citadel owns KKGL, KBOI, KZMG, KQFC and KIZN.
Update: And KTIK, too.
on Mar 3rd, 2008 at 10:31 pm
KTIK is part of that list, too. :)
on Mar 4th, 2008 at 6:38 am
This is kind of interesting. I wonder if there is a way to automate the local segments of a talk station. Maybe get some of Paul J’s play-by-play air checks and stick them into the automation during a live Broncos game to see if anyone will notice the difference.
on Mar 4th, 2008 at 11:42 am
It is beyond time for Farid Suleman to be FIRED!
His compensation was over 17 million last year.
He and his associates have devastated many remarkable radio stations and lives.
It is individuals like him that may be putting an end to radio.
on Mar 4th, 2008 at 3:20 pm
An accountant worth 17 million? Wow! Whoda thought.
on Mar 4th, 2008 at 3:37 pm
uh oh!!!! Here come the Tapes and Resume’s!!!
or is that mp3’s and myspace?
on Mar 4th, 2008 at 4:15 pm
Something tells me we had all better watch our wallets regardless of what sector we are working in. My employer is cutting back, laying off, enacting Reductions In Force, penny pinching etc, as a result of the cooling economy and resulting drop in product sales. Our CEO is the same, way too much pay for their performance too.
Oh, but it might just be my imagination since the government seems to be saying all is well…go back to sleep.
on Mar 5th, 2008 at 3:48 pm
Overbloated executive salaries are standard across the US. I left broadcasting and got a job at a local “big name” company. Our CEO’s have been collecting huge bonuses, stock options, and golden parachutes even though the company stock may be tanking.