Inside Radio reports:
"Radio needs people who believe."
While the industry certainly faces a number of hurdles, NAB president/CEO David Rehr says the biggest problem isn't Wall Street or Washington. "I'm talking about the negativity that's pervading the radio business and threatens to paralyze us," he told the crowd during his annual state of the industry speech at the NAB Radio Show in Austin. Rehr says the result is a "stagnation" of the industry.
From the New York Post about the CBS station sale:
But there are some who think CBS would be better off jettisoning the entire radio division in one shot rather than selling some stations now and deciding what to do with the others later.
"The radio business is a melting ice cube," said RBC Capital Markets' David Bank. "While the cash flow is valuable, CBS would be better off selling the [whole] asset today instead of waiting a couple of years and selling the rest for less."
We agree with David Rehr that that the industry needs to get rid of the negativity.
But it is exactly comments by analysts like Bank that have driven perception of radio. Considering the economic debacle we are experiencing right now - ignoring the metaphors of financial analysts is probably the best advice for all.