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BumRushDaShow

(147,015 posts)
15. Well... as a note
Mon Aug 26, 2024, 06:00 AM
Aug 2024

The fact that there were 2 CBS radio affiliates in the same market was a result of the obsessive communications deregulation in the '90s. I would have preferred that they kept the original CALL letters though (and news format).

Be that as it may, WCBS was an Audacy station and Audacy is now in the process of having George Soros' Fund (yes that guy ) taking over a majority stake -

Report: Audacy Investment Part Of A ‘Bigger Audio Buying Spree’ For Soros Fund.


Apr 10, 2024
OLIVIER HOSLET

The name of billionaire investor George Soros has become part of the radio lexicon ever since his Soros Fund Management invested hundreds of millions to become the largest stakeholder in Audacy when it emerges from Chapter 11 bankruptcy reorganization. The Soros fund was also one of several investors in Latino Media Network, which purchased 18 radio stations in 10 major markets from TelevisaUnivision more than a year ago. Now a story published by Semafor suggests these investments “could be the beginning of a bigger audio buying spree.”

One potential target named in the story is Cumulus Media. The fund has “privately discussed acquiring other major radio companies, such as the limping, publicly traded Cumulus Media,” the story says, while acknowledging that FCC local ownership caps would put limits on common ownership of radio’s second and third largest companies. (We would point out that Cumulus has twice rebuffed efforts to buy the company by Connoisseur Media CEO Jeff Warshaw, who said “they did not seem to be interested whatsoever in an offer, despite multiple attempts.” Warshaw offered $15-$17 a share for Cumulus in the summer of 2022 when its stock was trading for around $12 a share. The stock closed at $3.15 on Tuesday.

Cumulus is also attempting to block a potential hostile takeover by Renew Group Private Ltd., a Singapore-based shareholder group led by Manoj Bhargava, the founder of 5-Hour Energy drink. To thwart the effort, Cumulus in February adopted a so-called poison pill to make buying up shares of a company beyond a defined limit financially unpalatable, to discourage acquirers from gaining a controlling interest.

The Semafor story cites three unnamed people who have been involved in discussions with Soros executives. A Cumulus spokesperson did not reply to an Inside Radio request for comment.

(snip)

https://www.insideradio.com/free/report-audacy-investment-part-of-a-bigger-audio-buying-spree-for-soros-fund/article_838ff272-f704-11ee-853d-d3520e0b2a7c.html


So I expect this is part of the restructuring going on behind the scenes.

One of my beefs with "our side" (liberals/progressives, etc) has been that we whine about "the media" but own none. Many didn't even really support "Air America", which itself, self-destructed, so we will have to see what happens here with Audacy.

Recommendations

1 members have recommended this reply (displayed in chronological order):

trump knows VP Harris will slaughter him in a debate. Signaling he will... brush Aug 2024 #1
This is the same repeated story we heard adnauseam before the Biden-trump debate. jimfields33 Aug 2024 #5
The title to the article should have been: DENVERPOPS Aug 2024 #47
Trump wants to replicate the Biden/Trump debate.. agingdem Aug 2024 #36
I saw something on Raw Story about this last night before going offline BumRushDaShow Aug 2024 #2
This just continues the "profit over the good of society" march that we've been on for decades mdbl Aug 2024 #11
Well... as a note BumRushDaShow Aug 2024 #15
It will be interesting to see where it goes mdbl Aug 2024 #52
IF I hit the jackpot, my wish is to buy Faux News and have it be a 24 hour yoga and liberal Evolve Dammit Aug 2024 #54
Doesn't have the stamina to do the debate rpannier Aug 2024 #3
... ailsagirl Aug 2024 #58
Just more desperation to stay in the news and rile up supporters BWdem4life Aug 2024 #4
Drama Boy. mpcamb Aug 2024 #16
That's it exactly maxsolomon Aug 2024 #34
bawk! bawk! Gaytano70 Aug 2024 #6
He likes to play these games. Ignore him. He BS's all the time. LeftInTX Aug 2024 #7
No one should debate a pathalogical liar like trump mdbl Aug 2024 #8
TMI Roy Rolling Aug 2024 #9
"Really? The WaPo thinks the mumbling of a serial liar are worth publishing?" BumRushDaShow Aug 2024 #22
Typical page out of the reality tv handbook pimpbot Aug 2024 #30
Well here's the thing - BumRushDaShow Aug 2024 #31
Chickenshit prick Betty Boom Aug 2024 #10
Such a *Brave* man! *Sigh* bucolic_frolic Aug 2024 #12
Great!! Harris gets 2 hours of solo primetime national TV. aeromanKC Aug 2024 #13
Rx: Bone spurs live love laugh Aug 2024 #14
chicken man n/t DemonGoddess Aug 2024 #17
Maia Rudolph can pull this one out again on SNL forgotmylogin Aug 2024 #38
Just bdamomma Aug 2024 #18
He really is a chickenshit ................ turbinetree Aug 2024 #19
Looks like orange is the new yellow! ananda Aug 2024 #20
coward.nt Javaman Aug 2024 #21
It really is a shame that he hasn't fucking stroked out already Orrex Aug 2024 #23
Scared little chicken IronLionZion Aug 2024 #24
I'm shocked. Shocked, I tell you. birdographer Aug 2024 #25
If he doesn't debate call him out as a liar and a coward and why JohnSJ Aug 2024 #26
Why? Because you agreed to it. underpants Aug 2024 #27
🐔 Chicken intensifies! JohnQFunk Aug 2024 #28
They aren't too pleased with him Yo_Mama_Been_Loggin Aug 2024 #46
Ignore this. Jirel Aug 2024 #29
Meh. Trying to control the narrative, because he's got nothing else. mucholderthandirt Aug 2024 #32
But I bought all this popcorn. . . no_hypocrisy Aug 2024 #33
Despite commitment, Trump hedges on scheduled debate with Harris LetMyPeopleVote Aug 2024 #35
Why anyone listens to this blankety blank so and so jerk off is beyond me Ray Bruns Aug 2024 #43
Neil Katyal nails it FelineOverlord Aug 2024 #37
He is such a worthless fucking asshole. Initech Aug 2024 #39
It would be shameous if he backs out of the debait. BobTheSubgenius Aug 2024 #40
Trump no show bromeando Aug 2024 #41
This Trump "working the refs" NewJeffCT Aug 2024 #42
I don't think his waffling is quite the show of strength he thinks it is. Torchlight Aug 2024 #44
Sort of like how he acts around dictators. Crowman2009 Aug 2024 #49
As far as I'm concerned, the less we see of him the better mdbl Aug 2024 #56
We all fall for it. SayItLoud Aug 2024 #45
Weird and a gutless coward! Crowman2009 Aug 2024 #48
that picture! he is so ridiculous BlueWaveNeverEnd Aug 2024 #50
This is just old orange ass being a fight promoter. Klarkashton Aug 2024 #51
Do we really care if he debates or not? mdbl Aug 2024 #53
As stated before CRK7376 Aug 2024 #55
DNC Chairman Jaime Harrison says it would be "A huge disappointment" if he doesn't debate ailsagirl Aug 2024 #57
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