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- AT&T Sends Controversial ‘American Idol’ Text Message
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- TV Universe Loses 1.5M Due to Digital Transition: DTV Transition News, Updated 10-15-09
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Cumulus Pres: Half of Radio Companies to Die in Three Years
Half the radio companies in business today will be gone within three years, predicts Cumulus Media president Lew Dickey Jr.
Dickey points out in the Atlanta Business Chronicle (subscription) that this is the most challenging time in more than 20 years, as slipping ad revenues plus the stock market upheaval causes massive tremors for broadcasters. Despite problems, radio is still a sound business, he says (via Radio Ink).
Cumulus itself is current on its debt covenants and has a half-billion dollars it can still borrow, in addition to nearly $75 million in liquidity.