Happened Friday, 2/27/09, and joined a long list of never ending cuts by media companies. Univision is the latest to hand out the pink to about 7% of their troops or as reports have it, 300 employees are now out of work. At this time it is unclear where the cuts are being made but like what the media has seen over the past year the blame is the current economy.
The media of radio and television has seen a long line of pink slips with Clear Channel the largest in radio has handed out close to 2,000 and there is talk on the street that there are more to come. Some companies like Saga have reduced salaries across the board to make ends meet.
For sure no company is safe from the pink as the current climate is still calling for very cold weather in the radio and television business for most of 2009.
RBR/TVBR observation: Key is to engage and attack the internet and get stations powered up to today’s internet world. All forecasting continues to predict that the internet and with a local interactive website will see financial rewards. Now the key is what staffers are left at media companies that will be up for the challenge. Those left standing are the ones that have to step forward and take on this challenge of building a radio or television media website and learn to market it with the power of your tower. If you wait for corporate then what you will find in your mail box will be pink.