P6 reminds me to post about Radio One selling radio stations.
Radio One yesterday announced the sale of 10 stations in two mid-size markets to a D.C. equity firm, part of an effort to divest properties that don't fit the company's mission of dominating the urban radio market.
Arlington Capital Partners will pay $76 million for five radio stations in Dayton, Ohio, and five in Louisville, Ky. The stations will be run by Main Line Broadcasting, a Philadelphia company within Arlington's portfolio that operates nine radio stations in Richmond, Hagerstown and Waynesboro and Chambersburg, Pa.
The same accounting scheme that have caused bigger companies to recalculate costs of stock options, has hit Radio One. Add to that the industry-wide fall in advertising revenue and Radio One is in serious trouble.
I remember when WKYS was sold. For about 2 months before the transfer was completed, "all of the sudden," the programming of the station drastically improved. On the last show under the old owners, the D.J.s gave their thanks to listeners for listening over the years. One noted that she had received comments about the improvement in the radio programming. She said the old owners decided to let the D.J.s program their own shows!
Maybe Radio One should try this novel concept in some markets.