The media conglamorate's in deep doodoo. Their rapid expansion to dominate radio was financed with debt, and they're unable to service it with declining ad revenues. January saw massive layoffs, and they've even cut the salaries and bonuses of their top execs.
While they may be able to avoid bankruptcy, the next step will be the sale of their less viable stations, at firesale prices.
There's talk of lefty millionaires buying up some properties, but this is not the winning model.
Local, community based ownership is more stable. In contrast to centrally produced syndicated shows, local on-air personalities can offer small business advertisers like restaurants something an operation like Air America can't, in person events at the place of business. This doesn't mean the new generation of progressive radio won't offer SOME national shows.
We learned the tools of community organizing in the campaign, let's put them to work to Buy Back the Media.
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