WJOX parent files for bankruptcy protection

A P: “Our business will continue as usual and the company will work to emerge from the restructuring process as quickly as possible,” CEO Farid Suleman said in a statement. Citadel has retained turnaround specialist Alvarez & Marsal North America LLC as its restructuring adviser. (read the entire report embedded in this post)



14 Responses to “WJOX parent files for bankruptcy protection” Subscribe

  1. stuart December 20, 2009 at 7:17 pm #

    What do you expect from a company that hires people like Ryan Haney and keeps people like Lance Taylor on the radio.

  2. Bamafan December 20, 2009 at 8:12 pm #

    Broadcast radio is losing listeners to Satellite radio, just as newspapers like the Bham News are losing readers to the internet. The “personalities” on WJOX are terrible. The only one with talent is Paul Finebaum, and only because he’s a great interviewer. Even his show is almost unlistenable because his crazy callers make it the radio equivilent of the Jerry Springer Show.

    I would encourage all College Football fans to subscribe to Sirius/XM. Their moring show, RivalsRadio, is far and away the best sports radio going. And they talk College sports, mainly football, basketball, and recruiting, 365 days a year.

  3. Alex Hamilton December 20, 2009 at 9:09 pm #

    I, and most men in the metro area, like WJOX. Regardless of the flaws, to me the station is better than ESPN Radio in the morning and late afternoon. The only thing that really sucks is The Roundtable. And, on the weekend you have some monkey running the station who doesn’t understand the delay or how to keep the Titans game on.

    The station is strong and will be viable even if Citadel changes hands. The only bright spot might be that the On the Field show is cancelled and Haney has to take a huge paycut.

    Bring back Herb Winches!

  4. capstonereport December 20, 2009 at 10:32 pm #

    Weren’t the satellite radio services essentially bankrupt too before the merger? I’m not sure on that, so I’m asking if I remember correctly.

    I’m not a fan of Mike & Mike, or most of the other national talk radio shows. But I am a Cowherd fan. I might listen to Tim Brando if he were on locally.

    Is Rivals Radio available via Rivals.com? Anything I listen/watch needs to be accessible via iPhone as I’ll never spend money to listen to satellite radio.

  5. Bamafan December 20, 2009 at 10:45 pm #

    Brando is on Sirius radio, right after Rivals. Cowherd’s also on, although I don’t listen to him. I don’t know if RivalsRadio can be accessed via Rivals.com.

    And yes, the satellite radio services have declared bankruptcy, but continue to offer programming. Believe me, as long as there is satellite radio I’ll never go back to broadcast radio. I’ll listen to that before the Opening Drive or the Roundtable.

  6. capstonereport December 20, 2009 at 11:21 pm #

    Thanks for the info.

  7. Pluto December 21, 2009 at 8:48 am #

    XM stock is trading at 60 cents. Check out Orbitcast on the Net for the skinny. The greatest value of XM is the Satellite Space it has. It is highly coveted. XM will be hard pressed to survive another year. I love the concept – my 4th year – the merger with Sirius was not good for the Programming.
    WJOX is going to change . First – this means that Paul is gone. The safety and guaranteed money at Clear Channel will be the Siren Call. Second – at least 2 on air personalities will be gone – one on the Drive and one on the Table. Goodbye Tony and whoever the schmuck is with the Metrosexual.
    And Yes you will get Herb back. Bargain Basement priced and competing with Paul – who will be back at WERC -FM.

  8. capstonereport December 21, 2009 at 8:52 am #

    Satellite space is valuable. That is interesting. So, the company would be worth more sold for satellite space? I’d LOVE to see the numbers on that. It might convince me to take some money out of BP :)

  9. capstonereport December 21, 2009 at 9:07 am #

    hmm, company is trading near its 52-week high.

  10. Pluto December 21, 2009 at 9:29 am #

    That’s right – 60 cents. Up until recently – the technology to digitally convert the electronics on board the satellite to broadcast television data was not available. That was saving XM. Now they have the technology and all the Media Conglomerates are licking their chops.
    Liberty Media saved XM last year from bankruptcy to buy time for the Technology .

  11. Bamafan December 21, 2009 at 11:35 am #

    Thanks for the interesting info Pluto. Good stuff. And I think It’d be great to have Herb Winches back on the air.

  12. Prophet December 21, 2009 at 1:04 pm #

    Straw most likely gone. The Frank Sanders experiment is hopefully nearing the end. Sorry but this guy is terrible. Herb hopefully will not come back. Mr Hankey was his protege. I’m interested in what folks are going to say when Verno arrives. I don’t know if this will hinder that deal at all. I’m checking into that now. More to come.

  13. DAMAGE INC. formerly known as CB81 December 21, 2009 at 3:55 pm #

    I am looking forward to the Prophet as always and his prophecies. Prophet — please continue to post your prophecies to comfort the “future of WJOX”. Much thanks,

    MGMT.

  14. Alex Hamilton December 23, 2009 at 7:14 am #

    If Vernon comes to WJOX, then I will switch to Cowherd. Cowherd only makes me throw up in my mouth. Vernon is projectile vomit on the radio.

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