The Bizarro World Of Radio…

Tuesday, October, 14, 2008 by Mel Phillips.

Radio seems to be living in a Seinfeld episode.  This morning’s New York Post reports some radio groups in deep stuff while a Maryland media economist says radio will have better ratings during this downturn.  What’s really going on in this Alernative Universe?  Companies that shouldn’t be buying any green bananas include the Tribune Company, Univision Communications and Clear Channel Communications.  The Trib is carrying a debt load of more than $12.5 billion, Univision’s debt exceeds $10 billion and Clear Channel owes $8 billion.  A mere $30 billion in total.  They’re almost eligible for a government buyout.  Excuse me - a buy-in…

Just yesterday Citibank changed its credit opinion on CBS to “deteriorating, high risk.”  Movie theater chain National Amusements under the Viacom/CBS umbrella was forced to sell $400 million of stock in Viacom and CBS to meet debt-covenant agreements.  According to Wachovia analyst Bishop Cheen, “A lot of (media) companies are going to be in refinancing or amendment discussions with their lenders and too many of them are going to be in full-blown workouts - pre-packaged Chapter 11 bankruptcy filings or seeking court protection.”

So where’s the good radio news?  Maryland media economist Douglas Gomery says “Radio will do well as we are stuck in our cars each working day, and free, over-the-air broadcasting requires no cash.”  Gomery adds this: “A poor economy is not likely to be kind to satellite radio services XM and Sirius - even as merged.  That which costs cash -watch it go down.”  We’ll be watching and waiting… 

10 Timeline Memories:

1. 1926] Published on this date: “Winnie-the-Pooh” written by A.A. Milne…
2. 1947] Breaking barriers: Air Force test pilot Chuck Yeager becomes the 1st person to break the sound barrier…
3. 1960] Peace be with you: Democratic presidential candidate John F. Kennedy suggests formation of a Peace Corps during a speech at the University of Michigan…
4. 1962] Crisis begins: The Cuban Missile Crisis begins and won’t end until November 20th. The world walks a nuclear tightrope…
5. 1964] Peace prize: Martin Luther King Jr. wins the Nobel Peace Prize…
6. 1973] The Hall of Fame awaits: Willie Mays gets his last hit as the Mets beat the Oakland A’s in game 2 of the World Series, which Oakland will win…
7. 1977] “Happy Trails“: Bing Crosby is the victim of a fatal heart attack at 74…1990] Leonard Bernstein, a heavy smoker, dies at 72 of emphysema…
8. 1979] You say hello and I say goodbye: Wayne Gretzky of the Edmonton Oilers scores the first of his NHL record 894 goals in a home game against Vancouver.  Here’s a clip of that goal…1985] Joe Namath’s #12 is retired as the Jets beat Miami 23-7 on Monday Night Football…
9. 1984] Sparking both leagues: Detroit Tiger manager Sparky Anderson becomes the 1st manager to win 100 games and a World Series in both leagues…
10. 2003] Guilty as charged: John Allen Muhammad pleads innocent to murder in the Washington-area sniper case. He is later convicted and sentenced to death…

Music Memories:

• 1957] Released on this date: “Jailhouse Rock” - Elvis Presley.  There are far too many men in this video…1972] “Papa Was A Rolling Stone” (with Dennis Edwards doing the lead) - Temptations…
• 1966] Debuted on this date: Grace Slick makes her first appearance with Jefferson Airplane.  This video is pre-Jefferson Airplane.  From 1965, an early version of “White Rabbit” following a 4:30 lead-in, Grace Slick & the Great Society…
• 1979] Number One on this date: “Rise” - Herb Alpert…1988] “Red Red Wine” - UB40…

“Happy Birthday…happy birthday“:

Usher (30), Justin Hayward (62), Ralph Lauren (69), Cliff Richard (69), John Dean (70), Roger Moore (81), C. Everett Koop (92) and coach John Wooden (98)…

Timeline Countdown: 11 days until Game 1 of The World Series, 17 nights until Halloween and 18 nights until the beginning of standard time (clocks go back one hour)…

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