WJOX parent files for bankruptcy protection

AP: “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 Comments

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  1. 2
    Bamafan

    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.

  2. 3
    Alex Hamilton

    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!

  3. 4
    capstonereport

    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.

  4. 5
    Bamafan

    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.

  5. 7
    Pluto

    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.

  6. 8
    capstonereport

    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 🙂

  7. 10
    Pluto

    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 .

  8. 12
    Prophet

    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.

  9. 13
    DAMAGE INC. formerly known as CB81

    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.

  10. 14
    Alex Hamilton

    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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