Thu. The stock price for iHeart, which has been the subject of recent takeover speculation from cable giant and SiriusXM satellite-radio parent Liberty Media Corp., has jumped from roughly $17 to $18 since the layoffs went public earlier this week. IHeartMedia emerged from bankruptcy last year after seeking protection to reduce its debt by more than $10 billion in 2018. Get the latest updates in news, food, music and culture, and receive special offers direct to your inbox. CEO Bob Pittman said in a press release Tuesday that iHeartMedias move will allow the company to modernize its operations and infrastructure. Newstalk 610 CKTB (CKTB-FM) is Niagara's NewsTalk Leader. Our nine division presidents bring a complementary portfolio of knowledge, leadership and diverse functional expertise that will position us well as we continue to transform and modernize as the leader in the audio space.. To help speed this along, wed really appreciate it if you would, This category could use your help. This rating has improved by 3% over the last 12 months. Which is a shame because there is a huge need for something more local., came into my office and closed the door and said, Hey, and gave me the talk of, This is your last day. Featured Artists. In March, Pittman surrendered his remaining 2020 salary and senior management took pay cuts between 30-70 percent. Comfortable yet professional presence on camera It just doesnt take a lot of money to do that the source says. Another round of employee cuts at iHeartMedia last week appears to include reductions in engineering departments at its broadcast operations. January 17, 2020. Ive seen the writing on the wall for a long time, Ledyard says. Tuesday's layoffs sent a ripple through the company, as employees' phones started lighting up with texts in the middle of breakfast. Market data provided byFactset. Others will say, Hey, we cant operate in this world with a program director. , In fact, iHeartMedias move gives other radio chains cover if they want to pursue the same strategy. From the money earned through that tool, Spreaker takes a 40 percent cut. Join the Westword community and help support local news and culture, Michael Roberts Verify your email to use filters. Gayle Troberman, Executive Vice President and Chief Marketing Officer for iHeartMedia. Spence joined the cluster in 2016 after programming the companys Talk and Sports stations in Hartford and New Haven CT. By continuing to use this website you are giving consent to cookies being used. Take 30 seconds to, iHeartMedia has an overall rating of 3.2 out of 5, based on over 2,430 reviews left anonymously by employees. Sources tell us that revenue projections for the rest of the year are trending downward, which is leading to this round of cutbacks at iHearts local station operations as the company sets their budgets for the rest of the year. You may get shitstorms on social media. We are told the cuts are going to be made over a multiple day period, much like the companys last round of layoffs in the fall of 2020. When iHeart Media acquired several Boston radio stations in 2017, it was known that the company would need to make massive cuts at some point to deal with its multi-billion dollar debt. Joey Morona, cleveland.com CLEVELAND, Ohio -- Cleveland radio has been impacted once again by layoffs at iHeartMedia. That is good news for Spotify, which has bet big (if not podcasting-big) that audiobooks are the next big-revenue vertical. Foster was also corporate News/Talk Brand Coordinator. I dont know how sustainable that is, this source says. Its dominated by massive corporate structures, and the communities that we need to service get lost in the shuffle between the giants., Rampant consolidation inherently homogenizes viewpoints and music played across the country, added Rachel Stilwell, a music attorney who was part of a recent coalition that aimed to, The Culling Has Begun: Inside the iHeartMedia Layoffs, Russ Doesnt Trust Other Labels. iHeartMedia laid off hundreds of radio DJs. Earle Augustus exits as morning co-host on Adult R&B V101 KJMS and afternoon host on R&B Oldies 1070 WDIA. Sure, you can market digitally, you can market online, you can run an ad and it shows up on Facebook. Last week, the company laid off at least 10 people in the podcast division, including a handful of hosts and executive producers. In 2017, the FCC succeeded in getting rid of the main studio rule, meaning that stations were no longer required to maintain a studio or any staff near the location of their broadcast license. It opened with chest-puffing (we are the #1 audio company in America) and then slathered on numbing layers of business jargon (new institutions include the Integrated Revenue Strategies Group and Excellence Centers). iHeartMedia's layoffs of hundreds of employees this week in a self-described move to modernize the company most likely means two things: A shift in emphasis from AM-FM airwaves to apps, streaming and, (Updated at 2 p.m. So He Built His Own, A Breath of Fresh Air: How Giveon Became R&Bs King of Warmth, It Started as a College Project. I got a lil iHeart scoop for you guys to start the weekend, plus some positive findings from the latest Infinite Dial report. Ability to work under stressful conditions and strict deadlines Financial Highlights: Q4 2021 Consolidated Results Q4 Revenue of $1,062 million up 14% YoY; exceeding prior guidance of up approximately 10% Excluding the impact of Political, Q4 revenue was up 25% YoY Q4 2021 Consolidated Revenue up 3.5% vs. Q4 2019 GAAP Operating income of $123 . Theyll still be able to suggest songs. iHeartMedia was able to wipe away much of its local presence thanks to a recent decision made by the Federal Communications Commission. Pros & Cons are excerpts from user reviews. Boston's source for local news. Massive Layoffs At iHeart Media. iHeart Cuts Exec Salaries, Furloughs Employees March 30, 2020 March 31, 2020 kevincarter iHeartMedia . Download Our Free iHeartRadio App! At iHeartMedia, Inc., we promise to treat your data with respect and will not share your information with any third party. According to Edison, 35 percent of respondents said that they have listened to an audiobook in the past year, up from 28 percent in 2022. Its happened to a lot of people and now it's happened to me. As layoffs roil the industry, from Spotify to NPR, iHeart Media is not immune. I recommend newcomers to work at iHeart. Reports: iHeartMedia Makes Cuts to Engineering Staff https://www.radioworld.com/news-and-business/headlines/reports-iheartmedia-makes-cuts-to-engineering-staff Mar 3, 2021 Its modernization initiative has resulted in layoffs in programming, sales and engineering, according to those familiar with the developments. New York, N.Y. - June 16, 2021 - iHeartMedia today announced the lineup for the 2021 iHeartRadio Music Festival, the annual legendary concert event on Friday, Sept. 17 and Saturday, Sept. 18 at Las Vegas' hottest entertainment venue, T-Mobile Arena, and its Daytime Stage at the iHeartRadio Music Festival on Saturday, Sept. 18 at the new . San Antonio, Texas Area . The festival will also be broadcast live on iHeartMedia radio stations throughout the country across more than 150 markets. As the company stated in Thursday's annual earnings. Lack of support for new hires. Excellent verbal skills How Should RTD Deal With the Drug Problem on Trains? Journey Takes a Break From Feuding, Returns for Harmonious Concert at Oklahoma Casino, Recordings Great Escapes: Photos of Thailands Karma Sound Studios, El CD cumple 40: Cmo el disco compacto lleg a dominar el mercado. iHeartRadio music radio, part of the iHeartMedia company, at the company's local headquarters in the South of Market (SoMa) neighborhood of San Francisco on Oct. 13, 2017. Feb 17, 2021 10:10am PT iHeartMedia to Acquire Audio Ad-Tech Firm Triton Digital From Scripps for $230 Million By Todd Spangler Triton Digital As E.W. iheart layoffs 2021. In a statement that echoed its email to employees, the company noted that during a transition like this, its reasonable to expect that there will be some shifts in jobs some by location and some by function but the number is relatively small given our overall employee base of 12,500. That said, the statement continued, we recognize that the loss of any job is significant; we take that responsibility seriously and have been thoughtful in the process.. Vail's International Student Workers Feel Left Out in the Cold Over High Housing Costs, Help Prevent Car Theft: Let the Denver Police Department Track Your Stolen Vehicle's Location, "Western Water Girl" Uses TikTok to Make a Splash on Colorado Water Issues. Scripps exits the podcast sector, radio. Toni Foxx exits The Big Show in mornings at Country WQIK (99.1 WQIK). With more than 860 live broadcast stations in 153 markets across America, there's an iHeartRadio station where you live. iheart layoffs 2021southwest cargo phone number. As per Layoffs.fyi, a website that tracks layoffs in the tech sector, over 37,000 employees were made redundant at 467 startups globally in the second quarter of 2022, compared to less than 3,000 . Jerry Schemmel, the play-by-play voice of the Colorado Rockies, is among those who were laid off by iHeartRadio in Denver. iHeartMedia Layoffs Continue Across Multiple Radio Markets Here's the Latest Dylan Smith November 3, 2020 Back in April, following a series of personnel cutbacks that preceded the COVID-19. Executives blame AI. Ive seen this coming, agrees DJ Sab, who lost his radio role in Cincinnati. Save my name, email, and website in this browser for the next time I comment. The largest radio company in America cut a number of employees this week, dealing a blow to local radio across the country. I would say if you're going to get an offer, please negotiate this hard. Also out is Total Traffic And Weather/Chicago traffic reporter Bart Shore. Some employees began to suspect that cuts were coming last week. You will be overworked and take on so many extra responsibilities with no pay and management is awful. When youre talking to the market guy, hes saying, They let go of all these people and Im running an automated system right now,' says a label source who frequently works with iHeart. One employee who lost a job Tuesday said the station cut just about all the on-air talent except for the morning show. You will see many bad things while being a journalist. Our website provides local and national news, radio show podcasts, contests, local weather, events and concerts. Maguire previously served as SVP/Programming for iHeart Montgomery AL, Director of Urban Programming in Maco and PD of WPHH Hartford for the company. Recession Plans at the Big 3 Radio Groups. Radio still touches so many lives: Its free, and its particularly important to low-income communities, communities of color, who are less likely to be on the internet, so their opportunities to access news and information are much more limited. (See table 8.) Also cut Wednesday was Jordan JRDN , https://www.radioworld.com/news-and-business/headlines/reports-iheartmedia-makes-cuts-to-engineering-staff. Burd previously served as APD/midday host of Country 92.5 The Bull KBEB Sacramento, morning co-host at CHR 104.7 KDUK Eugene OR and midday host at CHR 107.5 Kiss-FM KIFS Medford OR. Wednesday, June 29, 2022. 2019. New hires are there to farm 1-2 big accounts, after the base salary is taken away (6months) you are left having to leave and those accounts are given to veteran sellers. We have heard of many in production roles in particular that were let go including a few who held regional or national duties on the commercial production side and on the local digital content teams. Even the podcasting industry is not immune to some effects of the advertising slowdown, iHeart CEO Bob Pittman said on an investor call this week. 2021 Annual Report PDF Format Download PDF 1.25 MB. Responsible for pulling cuts, posting on social media, making scripts and voicers . Editors picks Spreaker, which was previously only available to paid customers through plans ranging from $8 to $250 per month, now offers a free basic tier. Courtesy of iheartmedia . The layoffs come as Rolling Stone reported Tuesday iHeartMedia's two contemporary-hit radio stations in the top two markets (New York and Los Angeles) refused to play songs from Korean boy band BTS and Lil Nas X despite their successful chart runs because the songs were - and I'm paraphrasing here - "not white enough", harking back to the Daryl Ledyard worked for more than a decade at WBBS, a country outlet, which he says was Number One in the Syracuse, New York, area year after year for two decades. The culling has begun, wrote one member of a Facebook group for people in radio. Brian Price exits as afternoon host at Classic Rock 93.3 The Wolf WNCD and Creative Production Designer for the National Programming Group. P!nk on fighting for what's right, being over your feuds, and why performing is therapy. Cost of living is considerable more and we're all struggling, we don't care about how great we're doing *for you and your bank accounts. Jordan JRDN Foster exits as night host at CHR WKSC (103.5 Kiss FM). According to reviews on Glassdoor, employees commonly mention the pros of working at iHeartMedia to be workplace, coworkers and the cons to be senior leadership, benefits, career development. In turn, it is drastically cutting smaller stations while feeding content from the bigger markets into iHeartRadio, which has 128 million users, and other digital apps. Spokespeople for iHeart and Townsquare wouldnt comment, but Borrell believes iHeart is expanding its focus to sell advertising nationally, while Townsquare remains locked in on local advertisers in each of its markets. Ability to improvise in a live on-camera setting Moore previously spent 21 years in Portland ME programming AC 94.9 WHOM and CHR Q97.9 WJBQ, and has also worked in Columbus OH and Bangor ME. Can You Get Laid Off While On Maternity Leave, Can Laid Off Union Workers Collect Unemployment, How Long Does Insurance Last After Being Laid Off. He previously spent 15 years as PD of Sports 104.3 The Fan and predecessor 950 KKFN from 1995 to 2005 and Operations Manager at Front Range Sports Network from 2010 to 2014. IHeart is the rare example of a major media company that has made the successful transformation into a 21st century media company one with unparalleled scale, reaching 91 percent of Americans each month with our broadcast assets alone, more than any other media company," Pittman said. Augustus also worked in the market at 98.1 WSRR and 98.9 WJZN along with a previous stint at WRBO. Shore previously spent seventeen years as a traffic reporter for News 780 WBBM and earlier in his career programmed KRNA Iowa City. [The total number] is definitely in the hundreds. He suspects its the biggest reduction in force since the one, iHeartMedia, which controls more than 800 radio stations and. Billboard is a part of Penske Media Corporation. Proven work experience as a news anchor Kennedy joined the company as morning host on Hot AC 100.5 The Drive WDVI in 2012 after 20 years at CHR 97.9 WPXY and three years in middays at Variety Hits 98.9 the Buzz WBZA. According to anonymously submitted Glassdoor reviews, iHeartMedia employees rate their compensation and benefits as 2.7 out of 5. iHeartMedia is in the midst of another road of layoffs. Bart Shore exits as a traffic reporter for Total Traffic & Weather Network and weekend host at AC WLIT (93.9 Lite FM). This website uses cookies. Audiobooks (thats right, ya girl is not gonna miss an opportunity to talk audiobooks). Broad knowledge of local, national and international affairs (e.g. Sources tells us the RIF will be hitting programming, on-air, , https://www.rollingstone.com/pro/features/iheartmedia-mass-layoffs-937513/, Jan 15, 2020 iHeartMedia laid off a number of employees this week. Thats the saddest part., A daily briefing on what matters in the music industry. 6:28AM. After 3+ years with Beasley Media Group Fayetteville, NC, Gunner Jacksonexits his dual role of Brand Manager for Adult, NPR CEO John Lansing announced the network would lay off roughly 10% of its current workforce at least, After 14 months as General Manager of Starnes Media Group News-Talk KWAM-AM/Memphis, Kevin Crash Davis is now a free, Daniel Ek, Founder/CEO of Sweden-based streaming giant Spotify announced extensive organizational restructuring that includes the layoff of 6% of, RAMP has confirmed that Riley Couture has exited as co-host of Your Morning Show, which is carried on iHeartMedia Top, Audacy Mainstream Rock KRXQ (98 Rock)/Sacramento has parted ways with afternoon guys Stroke Mastroand Mikey Muscatello, hosts of That, The Beasley cuts continue the latest major market downsizing has hit Paul Jaxon, afternoon talent at WMMR/Philadelphia for. No matter who does it next, iHeart was the bad-guy first, the former employee says. Listeners expressed their outrage on Twitter after learning that some of their favorite radio personalities had been let go. Some called for a boycott of the company. 2023 Billboard Media, LLC. At least 6,154 news organization workers, which includes both editorial and non-editorial staffers, were laid off beginning March 2020 through August 2021. Also cut Wednesday was Jordan "JRDN" Foster, nighttime personality at iHeartMedia Top 40 WKSC 103.5-FM.. A native of Syracuse, New York, and graduate of Syracuse University, Foster began his career as the rap artist Jay Foss before joining iHeartMedia Chicago in 2015. Workload can be heavy during close, but that's typical for an Accounting position. Speaking of iHeart finding new ways to make money, its podcast publishing tool Spreaker is going for the Anchor play. Of Technology, on Saga Snags Schulze As Director, E-Commerce, on Laden Named News Director, AM Anchor, WABC, on Pratt Upped To APD At Praise Charlotte, on Audacy Denver Launches Front Range Country, Laden Named News Director, AM Anchor, WABC, Audacy Denver Launches Front Range Country, Spotify Restructures, Lays Off 6% Of Force, Beasley Downsizing In Boston, Tampa, More, JVs Family, Colleagues Facing Hard Reality, Saga Snags Schulze As Director, E-Commerce, Mailing Address: 25876 The Old Road #254, Valencia, CA 91381. iHeartMedia Layoffs Continue Across Multiple Radio Markets Here's the Latest : Apr 14, 2020: iHeartMedia Aims to Save $200 Million This Year Via Pay Cuts, Furloughs, Other Reductions . Its main competitors . They do not offer fair pay wages that are conducive to the talent or the market. latest round of layoffs affecting the broadcasting giant, he'd given Rosen permission to use racial slurs, this 2008 post dates from his previous gig, as many as 1,500 jobs were slashed nationwide. low pay, understaffed, not enough resources, Hybrid - 2 days in office Free Meals Tue -Thu Free Parking Downtown Off early on Fridays 401K + Health Benefits (high cost) Flexible schedule for doc appts, and such. He has also worked in Shreveport, Charleston and Killeen TX. across the board and even if you get a promotion does not mean you will get a pay raise, Coming soon! Sources tells us the RIF will be hitting programming, on-air, and digital departments, once an area of growth, across the country. Max Cutler most recently oversaw content partnerships. (Many declined to comment, citing the same reason.) Effective communication and interpersonal skills June 22, 2022 independent local journalism in Denver. GET FOX BUSINESS ON THE GO BY CLICKING HERE. YouTube More information is surfacing about iHeartRadio layoffs in. Can I Be Laid Off While On Workers Compensation? That day of reckoning arrived this week. Strict deadlines are a problem. Listen To The Most Popular Podcasts On iHeartRadio! The morning show on Radio 95.1, however, has been . Dozens of popular radio personalities across the U.S. were laid off as station owner iHeartMedia announced a major reorganization this week. You may become a public figure. That is a truly respectable number, but perhaps their expectations were set high because of the 148 percent growth the segment experienced in 2021. Robbyn Hart as seen on her KBCO bio page. Weve gotten so far from local owners that radio is almost unrecognizable now, said Karen Slade, vice president and general manager of the independently owned KJLH in Los Angeles, in a 2019 interview. Sorry. one of the worst days in on-air radio history. The layoffs were concentrated in small and medium markets, where staffs had already been reduced, striking another major blow to local radio. iHeartMedia laid off a number of employees this week. On April 24, 2020, North Jefferson News in Gardendale, Alabama, announced it was merging with sister paper The. Its dominated by massive corporate structures, and the communities that we need to service get lost in the shuffle between the giants., Rampant consolidation inherently homogenizes viewpoints and music played across the country, added Rachel Stilwell, a music attorney who was part of a recent coalition that aimed to prevent the FCC from doing away with local-ownership caps. iHeartMedia controls more than 800 radio stations and paid Pittman more than $14 million in 2017, according to published reports. Available to work on a flexible schedule Are Older Listeners the Key to Unlocking Streamings Growth Potential? The 2021 iHeartRadio Music Awards are returning on May 27th, and the nominees for this year's show have officially been revealed. Considering the macroeconomic challenges in the current environment, we think our digital and podcasting business has performed well in the fourth quarter, but we also seek concrete ways to improve the performance going forward.. According to her LinkedIn, she transitioned to the role of strategic advisor in February, though Hot Pod has learned she is no longer an employee at the company. NAB Asks FCC to Complete 2018 Quadrennial Review, Laden Joins WABC/New York as News Director and Host, Audacy Launches ''Front Range Country 103.1'' in Denver, WPZS (Praise 100.9)/Charlotte Ups Melanie Pratt to APD, iHeartMedia's Podcast Platform Spreaker is Now Free, KINK-FM/Portland Adds ''The Greg Beharrell Show''. Van Mosel is a longtime podcast revenue executive, having held top spots at New York Public Radio, Acast, and Stitcher, and she was seen as a big get for iHeart when she joined last year. There was a very urgent, emergency meeting called in New York City for market presidents and higher-level local management, says one former iHeartMedia employee who spoke on the condition of anonymity so as not to jeopardize a severance package. Denver's independent source of Bee previously has hosted mornings and nights at WOWI and has mixed at WXYV Baltimore, WBTJ Richmond and SiriusXM. For other iHeartMedia employees, the first sign of trouble came early Tuesday morning, when the company sent employees an email announcing a new organizational structure. The memo, obtained by, , seemed plucked partly from a corporate-culture parody like. The small cuts to the product when times were good had already push some away. iHeartMedias companywide email proclaimed that our company is built on the strength of broadcast radio the markets in which we operate and the connection of our stations to the communities they serve. But that connection may be nonexistent after Tuesday, according to several former iHeartMedia employees. iHeartMedia, Inc. . Now, the company has explained why those. Enter Liberty Media, which owns controlling. It has reportedly caught the eye of antitrust officials with its not-yet-official plans to buy the radio giant. iHeartRadio owner lays off dozens including popular hosts iHeartMedia announced 9 presidents for new market divisions By James Leggate FOXBusiness Video Dozens of popular radio personalities. political, economic, legislative and cultural) Additionally, Country WQIK/Jacksonville, FL morning co-host Toni Foxx (Robbie, John & Toni In The Morning) exits the station after 19 years, while New Hampshire VP/Programming Tim Moore departs after serving as PD of Active Rock WHEB, CHR WERZ (Z107), Country WTBU (95.3 The Bull), News/Talk WQSO (Newsradio 96.7) and Sports WPKX-AM after almost 10 years. Ive heard there are as many as 850 people without jobs today from iHeartMedia. I heard there are going to be more [cuts] coming all week, adds the other former employee. Now, it appears that Sarah van Mosel is no longer the executive vice . Chicago: CEO Bob Pittman said Q4 was iHeart's best quarter for revenue and adjusted earnings in company history. Though smaller markets seem to be taking the brunt of it, 96.5 KISS FM, Cleveland's Top 40 station, was hit hard. Youre simply taking content that someone has already produced and pushing it out someplace else on another channel theres a lot more money in that, says Gordon Borrell, CEO of broadcast-analyst firm Borrell Associates. The future of this company is in shambles, financial statements tell you all you need to know! Hart also tracked nights on KBCO and served as an anchor/reporter for KOA. I just dont think you can have a market of this size without any local talent other than a morning show., The label source is just as gloomy about what iHearts cuts say about consolidation in the radio business, noting fewer acts will get airplay as a result.