1. Computing
Corey Deitz

Third-Largest U.S. Radio Broadcaster May File Bankruptcy

By December 11, 2009

Follow me on:

"Citadel Broadcasting Corp., the nation's third-biggest radio company...is preparing to file a prearranged bankruptcy before the end of the year, according to the Wall Street Journal and later the New York Times," according to chicagotribune.com.

Citadel Broadcasting is the third-largest radio broadcaster in the United States, according to The Wall Street Journal.

"Citadel's long-expected move is yet another reminder of the travails facing media companies, which are up against stiff competition and shifts in consumer habits. Advertising revenues have plunged for newspapers, radio broadcasters and television stations," writes the The Wall Street Journal.

Comments
December 11, 2009 at 7:45 pm
(1) Tony T. says:

Greedy bastards have it coming! And that goes for CC and all the others. They bought up all the stations, screwed most of their loyal employees and now they’re all about to pay for their corporate greed. Merry Christmas A**holes! LOL.

December 11, 2009 at 7:59 pm
(2) freakboy says:

They have had it coming for years. As they all look for more money they leave behind the fans by playing what the advertisers want them to play and not what the DJ’s want to play so Radio is finished in todays world unless they put the music back in the hands of the dj.

December 11, 2009 at 11:36 pm
(3) URLRadio says:

check out http://www.urlradio.net – it’s an internet radio station – run the old fashion way…by the people!

December 12, 2009 at 12:53 am
(4) Otis says:

Well said, Tony.

December 13, 2009 at 12:59 pm
(5) Steve says:

Radio has been my life for 40 years. Technology changes make for great opportunity and challenges. Radio will always be with us in it’s many forms. It is still a hot media.

December 13, 2009 at 5:01 pm
(6) Gary says:

There is no loyalty anymore…it’s all about the buck. The major corporations (and others now) come into markets, by up the stations, pay no attention to the local markets, cut costs and loyal employees…and look what happens. I feel no compassion for Citadel, CC or others. They did it to themselves. They sour listeners and employees by their greed. They have it coming.

December 15, 2009 at 2:56 pm
(7) Robert says:

Radio has triple troubles … (1)it’s run by suits and accountants (2)there’s no place for talented jocks who know how to entertain ..any moron can say “coming-up next” (3)playlists are swamped by the absolute garbage churned-out ad-nauseum by what’s left of the major labels.

There actually was a time when THE HITS KEPT COMING by artists who didn’t need to gimmickize and their songs still stand the test of time!

December 21, 2009 at 1:07 am
(8) Greg F. says:

HAHAHAHAHAHAA!!!!! In the early 2000s, when liberal radio network Air America was floundering, all of the right-wing dittoheads said it was because nobody wanted to listen to liberal radio. Now, when the nation’s third largest radio network, which syndicates Rush, Imus, Joe Scarborough, and Mark Levin, I’m sure there’s NO RESPONSIBILITY of all the right-wing claptrap that they spew out. Reap what you sow, bitches!

August 25, 2010 at 10:10 pm
(9) Shenzen Bar says:

Citadel Broadcasting is not only the huge company that had filed bankruptcy, in the past 2 years several companies had declared bankruptcy because of the effect of the economic recession worldwide.

Leave a Comment

Line and paragraph breaks are automatic. Some HTML allowed: <a href="" title="">, <b>, <i>, <strike>

©2014 About.com. All rights reserved.