The media conglamorate's in deep doodoo. Their rapid expansion to dominate radio was financed with debt, and they're unable to service it with declining ad revenues. January saw massive layoffs, and they've even cut the salaries and bonuses of their top execs.
While they may be able to avoid bankruptcy, the next step will be the sale of their less viable stations, at firesale prices.
There's talk of lefty millionaires buying up some properties, but this is not the winning model.
Local, community based ownership is more stable. In contrast to centrally produced syndicated shows, local on-air personalities can offer small business advertisers like restaurants something an operation like Air America can't, in person events at the place of business. This doesn't mean the new generation of progressive radio won't offer SOME national shows.
We learned the tools of community organizing in the campaign, let's put them to work to Buy Back the Media.
UPDATE: MA Liberal Googles "Radio Station for sale' and finds
Facility: 50kw fulltime AM
Location: Southern State
Status: Currently For Sale
This full time, 50kw, low on the dial, non-directional signal in the daytime is broadcasting off a 600 foot tower. The soil has good conductivity and engineers say it has the largest daytime coverage in the state. At night it is directional, with lower power and a two tower array.
Equipment includes: Harris 3DX-50 kw solid state transmitter (for daytime use), Gates 1, 1kw solid state transmitter (for nighttime use), phaser (for nighttime use), Orban 9200 audio processor, Burke ARC-16 remote control, Andrew dehydrator, and studio equipment.
The station, towers, land, buildings and equipment are included in the sale price.
Currently the station is owned by a non-profit that plays religious talk programming 24 hours a day, but it has been operated as a commercial station in the past.
Market covers 4.9 million people.
Only serious inquiries, please.