Radio Nowhere: Reports Say Clear Channel Due for "Massive Restructuring"
Clear Channel owns five stations in the Dallas market: KZPS-FM (92.5), KEGL-FM (97.1), KDGE-FM (102.1), KDMX-FM (102.9) and KHKS-FM (106.1). And local Clear Channel employees are, of course, concerned about their futures with the company: The WSJ reports that on Tuesday, it will lay off 1,500 employees, most of whom are considered "low-performing" ad sales reps. And The Post reports that Clear Channel "is also likely to move toward a 'national programming' model that would require less local-level staffing."
Messages have been left for J.D. Freeman, who handles all the Clear Channel Communications stations in the Dallas-Fort Worth area. But Deanna Blount, a spokesperson for Clear Channel, tells Unfair Park via e-mail that "the Company is not commenting on the NY Post story." That Clear Channel's new owners, Boston-based Thomas H. Lee Partners and Bain Capital, are tightening belts comes as little surprise; after an attempt to take Clear Channel private failed in 2006, they spent somewhere between $17 and $24 million to buy the San Antonio-based conglomerate last year, and ad revenue is way down. Join the club.