In 2018 Town Square sold its Midway entertainment fairs consisting of 150 fairs across America, think carnivals. In 2019 they sold their festival business consisting of 200 festivals per year to live Nation for a paltry 10 million dollars.
They needed cash to help offset their radio debt, which, before the virus, was $600,000 million. With radio taking a huge hit from advertisers, and with over 300 radio stations, I would look for their debt to reach
$1 billion.
Their two major competitors are Cumulus radio with a current debt of $1.05 billion and Iheart media with, are you ready for this? A debt of $20 billion.
I would say if this shutdown continues for longer than we expect, radio will be one of those businesses that suffers the most.
I locked myself out of the building. That's why we were silent for a few minutes at the top of the 8:00 hour. That said, only reason I'm still on is because my show has two sponsors. If something happens to them, I'll be off the air, too. At the risk of sounding like Mike Barras at an MDA telethon, if you want to sponsor the show, hit me up. Any little bit helps.
If only were same for cnn if they played by same rules theyd be off air by now...someone is financing them back door
There are currently 5 users browsing this thread. (0 members and 5 guests)