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Greater Media Still Baffled By Talk Radio Format The Felon & Friends In 11th Hour Hijinks?

Entercom, Citadel Get NYSE Warning Letters

by Brian Maloney, December 3rd, 2008 at 05:05pm


WRKO-WEEI owner Entercom
and WPRO’s Citadel have both received letters from the New York Stock Exchange, warning them of impending de-listing of their shares if they fail to meet standards for both share price and market capitalization.

Both are out of compliance with the latter standard, while CDL shares remain below the $1 threshold, now trading for just 17 cents a share. Entercom (NYSE:ETM) has managed to remain above $1 for the past few trading sessions, but we’ll see how long that lasts.

In the meantime, the bigger issue for Citadel, Entercom and several other major radio operators is avoiding bankruptcy, which could make the NYSE trading issue irrelevant.

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16 Comments Add your own

  • 1. NHradiofan  |  December 3rd, 2008 at 5:54 pm

    Entercom is selling for $1.07 per share. When you get a NYSE De-Listing notice, you have to submit a business plan outlining how you intend to stabilize your share price above NYSE minimum levels within the next 6 months.

    I would love to read that business plan from Entercom.

    I wonder if I will be able to find it in the Fiction section at the library?

    They should just go ahead and file for Chapter 11 and reorganize and get it over with. Who are they kidding?

  • 2. WRKO Staffer  |  December 3rd, 2008 at 6:10 pm

    Meanwhile, over here, Julie and Jason are “whistling past the graveyard”.

  • 3. NHradiofan  |  December 3rd, 2008 at 6:35 pm

    WRKO Staffer,
    I just dawned on me that Entercom’s troubles (and possible solutions to those problems) very well may cause disruption to you and your family and I certainly hope that is not the case. It is easy to become so focused on the mismanagement shenanigans of the Empress and Coffee Boy that the impact on the families of Entercom’s local employees gets lost in the wash. I am guilty of that in this instance.

    Hopefully your position remains secure and there is no angst for you or your family during the holidays. Having been in the radio business myself, and as you well know, things can change quickly and unexpectedly and I hope this is not the case with you.

  • 4. WRKO Staffer  |  December 3rd, 2008 at 7:45 pm

    NHradiofan…that is very kind of you (especially during this season). My position certainly is not secure and I can’t believe I lasted this long. At least there are some cool folks here like Howie and Sandy (in all honesty the “Felon” is a good guy too….believe or not).

  • 5. NHradiofan  |  December 3rd, 2008 at 9:33 pm

    WRKO Staffer

    I am sorry to hear about your lack of confidence in the security of your position and I would guess you are not alone in feeling that way at the station. Hang in there.

    I’m glad you have defended the WRKO employee’s point of view through your many posts. I am sure Howie and Sandy are cool people (I have other sources that have confirmed that) and I wish Tom Finneran had come to the station under different circumstances. The swirl of controversy around his arrival at WRKO obscured the issue of whether he was suited to be a radio host and prevented most (myself included) from being able to give him an unbiased listen. That’s too bad, all the way around.

  • 6. raccoonradio  |  December 4th, 2008 at 3:42 am

    btw someone mentioned on boston-radio-interest that Curt Schilling may be negotiating with WRKO
    to do a political talk show (they added, “this
    can’t be true…?”). He supposedly mentioned it on a sports message board (the former? current?
    Red Sox hurler is now part of WEEI.com at least)

  • 7. Celtic Frost  |  December 4th, 2008 at 7:20 am

    One blowhard at WRKO is enough. With Father Finneran around, there’s not enough oxygen in the building to accomodate Curt Schilling as well. Is there?

    Plus, hubby says that Curt is the biggest faker ever on the Red Sox - pretending to be all about TEAM but in reality way more conerned about #38. Except maybe for Trot Nixon who was all faux hustle and grit (then get a hangnail and sit out).

  • 8. Larry  |  December 4th, 2008 at 8:11 am

    Jerry Williams would always remind his listeners that he was in the advertizing business, not the radio business. He had to create an interesting and entertaining program that would attract listeners and then the advertizers who paid the bills. This is a simple formula that the highly paid management at these stations has forgotten about, if they ever knew it. What is happening now in the radio business is the “invisible hand” of market economics correcting ( and eliminating) those businesses who have lost sight of the product they are actually trying to sell. Like the car companies big radio conglomerates have been producing a flawed product that the market has been gradually rejecting. It is now time for some creative entrepreneur to re-invent this business.

  • 9. Skunky  |  December 4th, 2008 at 2:34 pm

    It is more obvious in local shows that the main jist MAY be advertising dollars (also, perhaps Rush Limbaugh too) BUT I think most talk radio fans can tell the difference of a show with great debate and information to get out to the masses than one that’s just a shill. It’s still a great deal!

    If one doesn’t like that, they can always listen to NPR…and if I recall, back in the late 90’s, they weren’t exactly doing commercials but got very close (like PBS). You have to enjoy the liberal spin on it though if you go that route.

    I try to use my brain and common sense…I never liked those GOLD commercials but have to admit that for the past few years they were a better investment (which normally isn’t the case).

    We still know more than the average bear because we listen to talk radio…some of us are the resistance against those dopes that only vote for the D. They don’t know the ISSUES…they don’t know the GERRYMANDERING and they are ignorant to the corruption that yes, even a DEMOCRAT state is filthy in!

  • 10. bjd  |  December 4th, 2008 at 3:53 pm

    skunky,

    If real journalism had not died, real talk radio would have never gotten to the point where it is. People realizing that media outlets like the globe, nytimes, et al have all surrendered any / all integrity with their coverage of stories are the reason people like Rush, Jerry, Howie, et al grew so big. Yes at times they do spark outrage, but it was just outrage about things the other media outlets couldn’t be bothered to tell us about.

    When somebody says something like talk radio is designed ONLY to sell us windshields, and that’s the ONLY point of talk radio it makes me think they are upper management at RKO. (Didn’t Julie have a sales background?) With those people in charge, you end up with “talent” like: mcphee, reese, felon, and jay. THEY are there to sell us windshields and matresses. The management that hires this “talent” are the ones killing the business and then are clueless about why it died. Bottom line is that since managmement can not recognize the problem, it can never be fixed.

    It’s sad that those management types were given the reigns to one of the most accessable outlets for information. There is a bright side though, all of us can learn how to remove the spackle from our colon walls if we listen.

  • 11. Joe from Brighton  |  December 4th, 2008 at 6:52 pm

    Julie and Coffeeboy: with these two running WRKO, it’ll be a halfway-house for crooked pols in no time.

  • 12. ChrisNH  |  December 4th, 2008 at 8:35 pm

    I’ve long held that TV news is nothing but glue holding car dealer and furniture store commercials together, and I’m not at all wrong. The paradigm is slightly less so in radio, aside from WBZ, which is like all-day TV news. And they have certainly commercialized themselves to the point where I won’t listen any more. What they have to tell me is nothing that can’t wait until I get to a PC and check it out on the Internet. ‘Traffic on the Threes,’ maybe. Maybe.

  • 13. Al Bowlly  |  December 7th, 2008 at 10:56 am

    I heard a PSA (AKA “Unsold Ad Space”) on WRKO on Saturday encouraging people to register to vote for the upcoming Presidential election.

    No one there even cares anymore.

  • 14. the real Barbara  |  December 7th, 2008 at 11:48 am

    I woke up in the middle of the nite and heard that boring boring boring bill kelly yakking about a surfer catching the biggest wave, snore, zzzzz put me back to sleep instantly. Does this guy have a regular early Sunday morning gig, I’ve heard him before around 3am put me to sleep instantly. This guy has to be the most or one of the top 3 most boring people on radio.

    Al, I’ve noticed a lot of dead air on RKO lately, during Laura Ingraham’s program, Howie’s program and this morning during Whitley’s program. What is up with that? Also during rush’s program right in the middle of a sentence there’s dead air, anyone know what’s causing this? One early morning there was dead air for about 30 minutes or so. Is this due to automation, no one around to monitor what’s going on? Sheesh, nothing worse than dead air, oh wait, there’s the felon, wendy, hedlund, maryellen………..: )

  • 15. Jim from Boston  |  December 7th, 2008 at 3:31 pm

    I too heard Bill Kelly this morning, though he was not on last week as I recall. He talked and took calls about Frederick Douglass, a black abolitionist prior to the Civil War. I didn’t hear what prompted that subject.

    I’m not sure that this show is a paid advertisment because they did have some commercials as I recall; I was not listening too intently. Kelly’s show preempted Coast to Coast that had an author on about the Medieval Inquisition. He left off talking about instruments of torture, followed by Bill Kelly ;-)

  • 16. the real Barbara  |  December 7th, 2008 at 4:37 pm

    LOL, how appropriate, bill kelly, instrument of torture! Perfect description! : )


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