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babylonsister

(171,066 posts)
Sun Apr 30, 2017, 11:42 AM Apr 2017

The End of Rush Limbaugh? His Radio Syndicator is on the Brink of Bankruptcy

http://www.newscorpse.com/ncWP/?p=34496


The End of Rush Limbaugh? His Radio Syndicator is on the Brink of Bankruptcy

Posted by Mark NC on April 25, 2017 at 2:37 pm.


snip//

With Trump still driving the public angst, the carnage is far from over. The talk radio empire of Rush Limbaugh is now said to teetering on collapse. Salon’s Matthew Sheffield is reporting that:

“The parent company of iHeartCommunications {formerly Clear Channel}, which syndicates programs by conservative talk-show hosts Rush Limbaugh and Sean Hannity, appears to be headed toward bankruptcy.

“In a statement filed last week with the Securities and Exchange Commission, the federal agency charged with regulating companies that offer investments to the public, iHeartCommunications’ parent company, iHeartMedia Inc., said that it had ‘substantial doubt’ that it would be in business by the middle of next year.”


Sheffield noted that the radio industry in general has been under pressure from other advertising platforms including new media. But the problems facing Limbaugh’s syndicator went deeper than that:

“The ad challenge is made worse for iHeartCommunications since many of its stations feature a conservative talk format whose audience is literally dying off. According to industry figures, the age of a talk show listener is about 67. Further complicating things for the company has been that its top host, Limbaugh, has immersed himself in several controversies in recent years, such as the time he called a liberal activist {Sandra Fluke} a ‘slut’ on the air.”


Indeed. Limbaugh’s repulsive and misogynistic insults cost him dearly. A leaked memo from his distributor, Premiere Networks, revealed that he lost more than 140 advertisers as a result of his rancid ranting. And the exodus didn’t end with Limbaugh. The same advertisers also requested that their ads be removed from other right-wing programs including Sean Hannity, Glenn Beck and Michael Savage.

Exacerbating these problems, Limbaugh has also lost favor with some of the top affiliates in the country. His show has been dropped from WABC in New York, WRKO in Boston and KFI in Los Angeles. In desperation, he switched to some weaker stations in those and other markets just to have a presence on air.

It remains to be seen whether iHeartCommunications will manage to stay afloat. But even if it does, they will have to make severe cuts in order to service their crushing debt. That means that Limbaugh, Hannity, et al, will either have to agree to renegotiate their contracts downward or say goodbye to their audience. They may still survive online, but they should ask Glenn Beck whether that’s a viable option. Since losing his Fox News megaphone he has been bleeding cash and his public awareness has shrunk to near irrelevance. So that’s good news all around. And maybe we should send Donald Trump a thank you note.
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The End of Rush Limbaugh? His Radio Syndicator is on the Brink of Bankruptcy (Original Post) babylonsister Apr 2017 OP
Praise be to Ceiling Cat! shenmue Apr 2017 #1
They didn't diversify. FarPoint Apr 2017 #2
They were pretty well gutted by Bain Capital also rurallib Apr 2017 #3
So Romney did some good after all! :) n/m bagelsforbreakfast Apr 2017 #9
"he's been paid millions a year." dixiegrrrrl Apr 2017 #44
Awesomely ironic hedda_foil Apr 2017 #48
Sure, Limbaugh's got his dough FakeNoose Apr 2017 #54
I'm sure Rush will find a way to remain blanketing the airwaves n2doc Apr 2017 #4
Unless of course.. cannabis_flower Apr 2017 #20
Look at Darth Cheney n2doc Apr 2017 #36
He'll probably land as the head of dump's DEA. LakeArenal Apr 2017 #5
LOL. Good one! Orrex Apr 2017 #11
He is rich enough rusty fender Apr 2017 #6
hes' been the most important guy in the Rcon party for decades certainot Apr 2017 #12
It might be best, though, not to let all that pus ooze out in one big flood..... lastlib Apr 2017 #35
LOL and rusty fender Apr 2017 #47
Lookie there safeinOhio Apr 2017 #7
Rush and O'Really cut loose at the same time? QED Apr 2017 #8
Nah, good trolls never die. Initech Apr 2017 #10
liberals need to include rw radio in all protest plans certainot Apr 2017 #22
It is wiser to just silently target their advertisers. Blue_true Apr 2017 #27
protest the 88 unis that support trump radio certainot Apr 2017 #37
iHeartCommunications going bankrupt? Say it ain't so! Orrex Apr 2017 #13
Bain Capital Bernardo de La Paz Apr 2017 #14
Bain bought Cherry Creek Radio last year. panader0 Apr 2017 #33
His SALARY is bankrupting that company benld74 Apr 2017 #15
Think the Kochs will prop them up? George II Apr 2017 #16
Yup Leith Apr 2017 #26
Terribly run company kimbutgar Apr 2017 #17
I'm sure some Repugnants in office will shed atleast a few tears when it goes under as cstanleytech Apr 2017 #18
Blame Bob Pittman, iHeart CEO, for Limbaugh and hatemongering sharedvalues Apr 2017 #19
He's gonna have to sell that 2nd car soon.... dixiegrrrrl Apr 2017 #45
the end is near. yabba dabba doo AllaN01Bear Apr 2017 #21
I am sure all those GOP billionaires and Trump can strike up a deal with those tax breaks coming. nikibatts Apr 2017 #23
This is All Due to Clinton's Telecommunications Act of 1996 Ccarmona Apr 2017 #24
Our local radio has 2 duncang Apr 2017 #25
They'll Probably Find New Shows on MSNBC Leith Apr 2017 #28
iHeart deserves to go out of business. milestogo Apr 2017 #29
"...the middle of next year. That's not soon enough. dchill Apr 2017 #30
Don't bet on it. edbermac Apr 2017 #31
I've been reading about the demise of Limbaugh pintobean Apr 2017 #32
finally!!! samnsara Apr 2017 #34
It's "No Cigar" time Zambero Apr 2017 #38
People stopped quoting him 10 years ago and it's been at least 15 years Warpy Apr 2017 #39
Hate to put it out there, but... DangerousRhythm Apr 2017 #40
Oh yeah, please. JudyM Apr 2017 #41
K&R Scurrilous Apr 2017 #42
How do I hate Rush pressbox69 Apr 2017 #43
Bye bye Rush and hate radio Gothmog Apr 2017 #46
that's a shame Abu Pepe Apr 2017 #49
Happy Days. sarcasmo Apr 2017 #50
I listen to Stephanie Miller on IHEARTRADIO wryter2000 Apr 2017 #51
Id like to see the 2(or 3?)Hour Hate removed from the airwaves . It's nice that his age group is lunasun Apr 2017 #52
Couldn't happen to a nastier SOB. democratisphere Apr 2017 #53
MSNBC is prepping a slot as we speak..., JDC May 2017 #55

FarPoint

(12,401 posts)
2. They didn't diversify.
Sun Apr 30, 2017, 11:55 AM
Apr 2017

A one way Propaganda Machine was doomed.... Just took much longer than I expected.

dixiegrrrrl

(60,010 posts)
44. "he's been paid millions a year."
Sun Apr 30, 2017, 04:20 PM
Apr 2017

which explains that wall of debt, most likely.

Yeah, running on debt has been a favorite Republican trick for ever, and no one who does it seems to remember that eventually debt will eat you alive when you can't re-finance at some point, usually when the market downturns significantly, which is an other Republican trick.

FakeNoose

(32,639 posts)
54. Sure, Limbaugh's got his dough
Sun Apr 30, 2017, 11:21 PM
Apr 2017

He'll just put all his junk on the internet, probably a web-blog, and he won't miss a beat.



n2doc

(47,953 posts)
4. I'm sure Rush will find a way to remain blanketing the airwaves
Sun Apr 30, 2017, 12:22 PM
Apr 2017

He is much too valuable to the oligarchs to lose. I suppose they can substitute one of his imitators at lower cost. They have a station here in Savannah that is pure RW hate all afternoon and evening long.

 

rusty fender

(3,428 posts)
6. He is rich enough
Sun Apr 30, 2017, 12:57 PM
Apr 2017

that he can buy several of his own stations. In any case, we've been trying to put a fork in him for years--haven't found one big enough yet that can fell him

 

certainot

(9,090 posts)
12. hes' been the most important guy in the Rcon party for decades
Sun Apr 30, 2017, 01:18 PM
Apr 2017

and he's been leading them and us off a cliff

they'll find a way to keep subsidizing most of his 600 stations unless the Rcons decide they want to lose a few elections and join the human race again.

but talk radio got them all three branches and it's going to be crucial to save trump and keep power...

if only democrats didn't continue to ignore rw radio

lastlib

(23,238 posts)
35. It might be best, though, not to let all that pus ooze out in one big flood.....
Sun Apr 30, 2017, 02:48 PM
Apr 2017

that'd stink beyond stink--just let it out a little at a time so it can be washed out without polluting too much sewage.

QED

(2,747 posts)
8. Rush and O'Really cut loose at the same time?
Sun Apr 30, 2017, 01:12 PM
Apr 2017

Oh the possibilities for a new media venture. Wasn't Jared trying to start a new network?

Initech

(100,078 posts)
10. Nah, good trolls never die.
Sun Apr 30, 2017, 01:14 PM
Apr 2017

If iHeartRadio's bridge is burned, some other billionaire will build a new bridge for them to hide under.

 

certainot

(9,090 posts)
22. liberals need to include rw radio in all protest plans
Sun Apr 30, 2017, 02:12 PM
Apr 2017

to put their propaganda operation out of business once and for all- it's been a major advantage for them for 30 years

especially the 88 universities that broadcast sports on and endorse 257 limbaugh stations

dems need to make it poisonous for any advertiser to support those radio stations and make a comeback impossible

Blue_true

(31,261 posts)
27. It is wiser to just silently target their advertisers.
Sun Apr 30, 2017, 02:28 PM
Apr 2017

Protests in front of their stations is a feel good activity that has the potential to backfire more likely than to fatally damage those assholes businesses.

 

certainot

(9,090 posts)
37. protest the 88 unis that support trump radio
Sun Apr 30, 2017, 03:04 PM
Apr 2017

if one or two of those unis merely begin discussing the prospect of looking for apolitical alternatives, advertisers will flee.

other unis will be shamed into doing the same - they have no excuse.

the discussion will cause many advertisers to flee

that would be better than protesting stations, which are often not in appropriate locations. protests at a few unis could spread and effect all advertisers on all rw stations.

Orrex

(63,213 posts)
13. iHeartCommunications going bankrupt? Say it ain't so!
Sun Apr 30, 2017, 01:19 PM
Apr 2017

Where oh where will I go to find the same five songs being played simultaneously again and again on six locally airing stations?

Bernardo de La Paz

(49,002 posts)
14. Bain Capital
Sun Apr 30, 2017, 01:20 PM
Apr 2017

https://mediamatters.org/blog/2016/08/02/why-reports-about-rush-limbaughs-contract-renewal-dont-mention-price/212114
August 2016

And let’s be clear, struggling iHeartMedia is in no position to take any “financial risk” on Limbaugh, or anybody else. Instead, the once-dominant radio behemoth is saddled with $20 billion in debt, thanks to a misguided leveraged takeover engineered by Bain Capital in 2008.

Consider this:

Clear Channel stock value, April 2007: $39.

iHeartMedia stock price, July 2011: Approximately $8

iHeartMedia stock price at close of Tuesday: $1.30.

panader0

(25,816 posts)
33. Bain bought Cherry Creek Radio last year.
Sun Apr 30, 2017, 02:37 PM
Apr 2017

My SO has worked for CCR for years and when a Bain subsidiary bought it,
they eliminated the right wing radio--Rush, Hannity and more. Listeners
were outraged that their hero was gone and flooded the station with threats.
The advertisers determine who is on, not the listeners.

Leith

(7,809 posts)
26. Yup
Sun Apr 30, 2017, 02:26 PM
Apr 2017

And the Waltons, the Mercers, the Coors, and all the other reichwing oligarchs that have been doing it for decades. They need the propaganda to keep the torches and pitchfork carriers from finding who is really making everyone's lives miserable.

kimbutgar

(21,155 posts)
17. Terribly run company
Sun Apr 30, 2017, 01:30 PM
Apr 2017

We used to have a progressive station in San Francisco. Had great ratings, advertisers and loyal listeners. In 2009 clear channel changed the format and it went to right wing talkers. The ratings went to zero. All because they did not like the progressive bias. Terrible management decision for partisan purposes. I say good riddance.

cstanleytech

(26,291 posts)
18. I'm sure some Repugnants in office will shed atleast a few tears when it goes under as
Sun Apr 30, 2017, 01:57 PM
Apr 2017

iHeart served them well as part of their long term plan of gaining majority control in the government.

sharedvalues

(6,916 posts)
19. Blame Bob Pittman, iHeart CEO, for Limbaugh and hatemongering
Sun Apr 30, 2017, 02:00 PM
Apr 2017
https://en.m.wikipedia.org/wiki/Robert_Pittman_(media_executive)

As much as Limbaugh is at fault for inciting hate and getting Hillary defeated, Bob Pittman is the root cause. He could boot Limbaugh at any time. Pittman prefers keeping him to see how much money they can squeeze out.




Edit: plus Pittman is worth around $100 million, so he is in the 0.01% - he benefits from GOP hatemongering aimed to destroy government and cut taxes that mostly benefit ... the 0.01%.
 

nikibatts

(2,198 posts)
23. I am sure all those GOP billionaires and Trump can strike up a deal with those tax breaks coming.
Sun Apr 30, 2017, 02:17 PM
Apr 2017

Sigh. No GOP supporting group is really on the brink of bankruptcy. It's just a neat way to keep from paying your debts. Conservatives use it all the time. Ask Trump.

 

Ccarmona

(1,180 posts)
24. This is All Due to Clinton's Telecommunications Act of 1996
Sun Apr 30, 2017, 02:18 PM
Apr 2017
http://thehill.com/policy/technology/268459-bill-clintons-telecom-law-twenty-years-later|

It deregulated the radio industry allowing Bain Capital (Mitt Romney) (amoung others) to go ballistic and gobble up radio stations throughout the Country. As was always the case with Bain, they drained the viable assets of their properties for the benefit of the owners, and saddled the Corporation with $Billions in debt. This is also why right wing radio dominates the airwaves by putting the same "talent" on multiple stations that they own in the same market.

duncang

(1,907 posts)
25. Our local radio has 2
Sun Apr 30, 2017, 02:19 PM
Apr 2017

trumpistas on it. If it's in a email or dipshit says something about progressives they will be repeating it. I would love to see them go, but hate to see the station go.

edbermac

(15,939 posts)
31. Don't bet on it.
Sun Apr 30, 2017, 02:33 PM
Apr 2017

As the old saying goes, nobody ever went broke underestimating the intelligence of the American people.

Especially Republicans.

 

pintobean

(18,101 posts)
32. I've been reading about the demise of Limbaugh
Sun Apr 30, 2017, 02:34 PM
Apr 2017

here on DU since I got here in '04. I guess, eventually, it will have to come true.

Zambero

(8,964 posts)
38. It's "No Cigar" time
Sun Apr 30, 2017, 03:07 PM
Apr 2017

Rush, Hannity, and the recently dematerialized Bill-O need to pack it in, cleverly re-invent themselves, and hit the road as a 3-man song & dance act. They can bill themselves as the "Dancing Deplorables", and Ann Coulter could serve as a rude MC.

Warpy

(111,266 posts)
39. People stopped quoting him 10 years ago and it's been at least 15 years
Sun Apr 30, 2017, 03:07 PM
Apr 2017

since I've heard some moron proudly proclaiming himself a dittohead. He's gotten stale and his shtik is formulaic and rote. He's become a habit with angry white men at work but that's pretty much his listening base. Old guys are watching jiggly bottle blondes over at Pox News and the young have realized conservatives are largely full of shit.

I suppose we'll have to look at Alex Jones for that purple faced flameout on the air, Lardbutt is just not going to do it for us.

I do love that these guys are finally desperate for cash. I just wish it had happened before they did so much damage to this country.

DangerousRhythm

(2,916 posts)
40. Hate to put it out there, but...
Sun Apr 30, 2017, 03:12 PM
Apr 2017

What are the chances that FOX News would put him on the air in O'Reilly's place? I know he used to have an incredibly stupid TV show in the early 90s, but maybe the obnoxious faces he'd pull during it (not to mention that his audience is declining) might prevent this disaster from happening?

I just want these old sexist bastards to go away entirely. No more right wing media, dammit. It's already ruined our country in countless ways, starting with #45 at the top.

JudyM

(29,250 posts)
41. Oh yeah, please.
Sun Apr 30, 2017, 03:45 PM
Apr 2017

He damaged my relationship with my dad, in his later years especially, by demonizing liberals (like me). And I'm probably not the only one whose life has been personally, negatively impacted. Heart breaking.

pressbox69

(2,252 posts)
43. How do I hate Rush
Sun Apr 30, 2017, 04:07 PM
Apr 2017

Let me count the ways. Using a pimple on his bum to duck serving his country. Being pro NAFTA but now pretending he was always anti NAFTA. Vacationing in a country where young boys are a sport. Calling Jerry Garcia a druggie on the day he died but trying to cover up his own drug abuse. His calling young Chelsea Clinton a dog. His dopey Fox sketch with him as the president and Tran Coulter as his VP. Paying Elton John $1,000,000 to perform at his wedding. His endless lies and rants against the Clinton's and Obama's.

lunasun

(21,646 posts)
52. Id like to see the 2(or 3?)Hour Hate removed from the airwaves . It's nice that his age group is
Sun Apr 30, 2017, 10:52 PM
Apr 2017

older but they are still whipped up in his lies and hate and could be a danger
they are that hateful and f'n nutty

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