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CBS Radio lays off 115 workers (Dinosaur Media DeathWatch™)
Marketwatch.com ^
| July 12, 2006
| Ruth Mantell
Posted on 07/12/2006 4:46:05 PM PDT by abb
SAN FRANCISCO (MarketWatch) -- CBS Corp. has eliminated 115 positions in its CBS Radio division, cutting its workforce by about 1% to reduce costs and restructure. The cuts became effective Wednesday, and hit jobs such as receptionists and mail clerks, as well as marketers and managers.
"This is an altogether necessary step, one designed to ensure our competitiveness and position us for future growth in a changing business," according to an internal memo from Joel Hollander, CBS Radio's chairman and chief executive.
Hollander, who was named chairman and CEO in January 2005, added that he doesn't "anticipate additional plans along these lines."
In May CBS Radio, which operates 179 stations across the country, said it would explore the sale of radio stations in 10 of its smaller U.S. markets, as the company works to streamline itself in the aftermath of its split from Viacom Inc. (VIA) At that time, CBS Radio indicated that it intended to divest stations in states such as Ohio, New York and North Carolina.
In April, CBS (CBS) said first-quarter radio revenue fell 6% to $434.5 million from $462.8 million, while overall revenue rose.
The company also recently reached a $2 million settlement of its breach of contract lawsuit filed against Sirius Satellite Radio Inc. (SIRI) and shock jock Howard Stern.
Ruth Mantell is a MarketWatch reporter based in San Francisco.
TOPICS: Business/Economy; News/Current Events
KEYWORDS: cbs; dbm; layoffs; liberalmedia; radio
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Wednesday Evening Good News...
1
posted on
07/12/2006 4:46:09 PM PDT
by
abb
To: abb
Hehehehehehehe...love it!
To: knews_hound; Grampa Dave; martin_fierro; Liz; norwaypinesavage; Mo1; onyx; SmithL; petercooper; ...
A surfeit of good news today...
3
posted on
07/12/2006 4:46:54 PM PDT
by
abb
(The Dinosaur Media: A One-Way Medium in a Two-Way World)
To: abb
A banner day for dinosaurs.
4
posted on
07/12/2006 4:47:48 PM PDT
by
onyx
(Deport the trolls --- send them back to DU)
To: abb
Probably didn't need them anyway. Sounds like union featherbedding.
5
posted on
07/12/2006 4:48:13 PM PDT
by
Tall_Texan
(I wish a political party would come along that thinks like I do.)
To: abb
I guess Air America has eaten into their market share.
6
posted on
07/12/2006 4:50:27 PM PDT
by
Rocky
(Air America: Robbing the poor to feed the Left)
To: austinaero
7
posted on
07/12/2006 4:50:37 PM PDT
by
MarkeyD
(The patriotism of the New York Times = The humanity of an Islamic terrorist.)
To: abb
Does the total of these 115 salaries about add up to Katie Couric's contract?
8
posted on
07/12/2006 4:51:08 PM PDT
by
Miss Marple
(Lord, please look after Mozart Lover's and Jemian's sons and keep them strong.)
To: abb
Seriously, does anybody but the Geritol/Depends set get their news from CBS, NBC and ABC anymore? The audiences of these dinosaurs continues to die off day after day. Nobody under 60 is watching the "Big Three" for news anymore.
9
posted on
07/12/2006 4:52:35 PM PDT
by
SamAdams76
(I think Randy Travis must be paying his bills on home computer by now)
To: abb
Hmmmmm...! Verrrry interesting....! Sheesh!
10
posted on
07/12/2006 4:54:24 PM PDT
by
gaijin
To: abb
I wonder what the percentage this reduction is of their radio station staff.
The loss of Stern had to hurt their bottom line.
To: Common Tator
12
posted on
07/12/2006 4:56:41 PM PDT
by
gaijin
To: Rocky
I guess Air America has eaten into their market share. Scair America doe not even have a measurable percentage of the market. I doubt their total payroll is larger than the number of people SeeBS has laid off.
13
posted on
07/12/2006 5:03:53 PM PDT
by
Andy from Beaverton
(I only vote Republican to stop the Democrats)
To: abb
They could eliminate their pseudo news department by having Howard Dean bray and shout, "Bush's Fault!".
14
posted on
07/12/2006 5:04:26 PM PDT
by
Grampa Dave
(The best things in life are never free for conservatives. Donate to Free Republic today!)
To: abb
I'm pretty sure that Kinko's is hiring, they can go make "fake but accurate" documents.
15
posted on
07/12/2006 5:05:23 PM PDT
by
wagglebee
("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
To: abb
Raoul's First Law of Joournalism
BIAS = LAYOFFS
16
posted on
07/12/2006 5:05:41 PM PDT
by
Doctor Raoul
(New York Times? Get a rope!)
To: abb
Raoul's First Law of Journalism
BIAS = LAYOFFS
17
posted on
07/12/2006 5:05:59 PM PDT
by
Doctor Raoul
(New York Times? Get a rope!)
To: abb
In my area we get Rush and Hannity on KMJ 580, which is owned by CBS. At the top of the hour the news is done by CBS radio. God, how I hate listening to those smarmy snotty new casters. I got a treat coming home along the Kaleefornia Coastal area when I was listening to Rush's subs on different stations when FOX radio news came on instead of CBS news. May CBS radio go extinct soon, PLEASE!!!!
18
posted on
07/12/2006 5:15:05 PM PDT
by
Enterprise
(Let's not enforce laws that are already on the books, let's just write new laws we won't enforce.)
To: abb
How many stations did CBS News lose to Fox Radio News last year?
19
posted on
07/12/2006 5:17:59 PM PDT
by
NonValueAdded
(Go home and fix Mexico)
To: NonValueAdded
I don't know about CBS Radio News. But Fox Radio News got a bunch from ABC Radio News...
20
posted on
07/12/2006 5:19:40 PM PDT
by
abb
(The Dinosaur Media: A One-Way Medium in a Two-Way World)
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