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Half as many salespeople but higher commissions.
It’s one option under study at Citadel, where CEO Farid Suleman believes as much as half of revenues would come in anyway, with or without a salesperson. So they're studying ways to possibly reduce the number of AEs and pay those who remain higher commissions. Faced with little growth in radio revenues Suleman says everything needs to be on the table. Comment on this story and view reader feedback HERE.
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“The era of doing stupid deals is over.”
Citadel CEO Farid Suleman says they are negotiating to sign Sean Hannity to new ABC Radio Networks contract, but he says "we'll only do profitable deals." Hannity has about a month left on his contract, and Suleman says he has faith Citadel PDs will be able to fill the timeslot if he leaves. More from Citadel's Q1 conference call in today's Inside Radio.
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Better times ahead for Citadel. Changes should bring better performance.
Wachovia VP of research Marci Ryvicker says performance will improve and Citadel's stock price should grow. She believes the rep-firm switch from Katz from Interep for the 22 former ABC stations will result in a yearly improvement of $16-20M in national revenue. And programming changes will add $10M of cash flow. Plus Citadel has cut $16-20M in expenses.
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Clear Channel Radio revenue decline 4%.
CC radio revenues were down $29.6 million during the first quarter of 2008 as compared to the same period of 2007. Local and national revenues were down while traffic, on-line and syndicated radio revenues were up. Total company revenues were up 4% to $1.6 billion, mainly due to a 12% increase in revenue from the outdoor division. More on Q1 in today's Wall Street Journal
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Spanish is proving profitable for Salem.
Salem has launched four Spanish-language Christian teaching format stations over the past seven months and says early results have been encouraging. The stations have been pacing more than 10% ahead of internal budget.
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**INSIDE STORY** with MIKE KINOSIAN
Disneyworld-Area Dandy Difficult To Duplicate...This is the second of an ongoing series of INSIDE STORY features dealing with unique hard-to-pigeonhole stations. In WMMO/Orlando's first full book (Fall 1990), the Central Florida Rock AC instantly ruled the market in several demos. Join Mike Kinosian as he recounts WMMO history with its original PD Cary Pall in this week's INSIDE STORY here PDF | HTML.
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