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Katz Launches National Marketing Unit, Trims Staff

Katz Media Group is heading into the New Year determined to cut costs and improve integrated campaign offerings to advertisers.

Katz is creating a new group, Katz Marketing Solutions, geared toward harnessing the power of multi-platform radio campaigns, the company announced. The group will be led by marketing and sales executive Bob McCurdy and will include national marketing experts previously part of the company’s Katz Advantage and Marketing Solutions groups.

Katz Marketing Solutions will lead creative development, working with national advertisers and their agencies in the earliest stages of the marketing and communications planning process.

The company is also trimming costs by laying off about 8% of its workforce; however, the new group is earmarked for growth and some newly created positions have yet to be filled, writes Mediaweek.
Radio overall is facing a difficult year. Wachovia analyst Marci Ryvicker just revised her 2009 radio revenue prediction downward significantly, from a drop of 8% to a drop of 13%.