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artmorris
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Posted: Tue Jul 22nd, 2008 01:02 am |
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From Radio and Records
Syndicated talker Sean Hannity inks a new "co-syndication" deal creating a unique teaming of ABC Radio Networks and Clear Channel Radio's Premiere Radio Networks. Effective December 28, 2008, ABC will continue to syndicate the show to all Citadel owned stations while Premiere takes over the duties for all Clear Channel owned stations and any stations carrying the show that are not owned by either company. Premiere will take the lead on ad sales for the show, but will work with ABC Radio in some special cases. Financial terms of the deal were not disclosed, but a Wall Street Journal article estimates the deal to be around $100 million over five years, plus some profit sharing for the host.
Farid Suleman, CEO of Citadel Broadcasting, the parent company of ABC Radio Networks, tells the Wall Street Journal, "It's an unusual deal, but it's a deal for the times." He adds, "It hopefully sets the stage for more deals like that, sharing with another party to try to limit the risks." Suleman went on to call the deal "groundbreaking in the syndicated programming arena," and believes "both companies as well as our listeners will benefit from this alliance.”
John Hogan, president and CEO of Clear Channel Radio says, "We’re extremely privileged to be working with Sean Hannity during the next phase of his remarkable career. It’s a testament to both his talent and his professionalism." He goes on to call Hannity, "both a tremendous broadcaster and a great asset to radio.”
The Wall Street Journal article also quotes Premiere president Charlie Rahilly as saying he believes there is opportunity to create increased revenue from digital services and advertising becuase of the loyalty of Hannity's audience, which he says, "has a connection, has a depth of shared experience" that advertisers are willing to pay a premium for."
Commenting on the new arrangement,Hannity says, “I have a passion and a love for radio and I deeply want to thank all of my listeners and my radio partners around the country. From the very first day, 21 years ago when that red ‘on-air’ light went on, I have always felt I was one of the luckiest people on earth. If anybody told me back in 1987, when I began my radio journey, that I would be in this historic partnership with the two best syndication companies in radio, I would never have believed them. This deal for me is truly a dream come true, and for that I am extremely grateful to all who have made this possible.”
The circumstances that made this new deal possible stem from a clause in Hannity's previous contract enabling him to re-negotiate if there was a "change of control," which was triggered by the Citadel purchase of the ABC properties.
This makes Premiere's second big investment in talk talent in the last 30 days following the announcement of their new contract with Rush Limbaugh, which has been estimated to be in the range of $38 million per year for eight years along with a $100 million signing bonus. Control of the sales inventory for both of these shows gives Premiere a very powerful one-two punch in the network sales arena.
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Art's Comment: Hmmm, I thought radio was dead and buried. I thought there was no money left in terrestrial radio. Obviously, there's still some life in them thar analog (mostly amplitude modulated) vibrations.
Last edited on Tue Jul 22nd, 2008 01:04 am by artmorris
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Respect the history of radio
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Posted: Tue Jul 22nd, 2008 05:59 pm |
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This makes Premiere's second big investment in talk talent in the last 30 days following the announcement of their new contract with Rush Limbaugh, which has been estimated to be in the range of $38 million per year for eight years along with a $100 million signing bonus.
I can now understand how Rush can handle the shots he takes on this board
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morrisjames
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Posted: Tue Jul 22nd, 2008 06:50 pm |
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With all due respect "Respect," look at how Cheap Channel and Citadel have had to cut the hell out of their budgets at all levels to finance Hannitys salary. Cheap Channel sold out long ago to pay for Rush.
Citadel is hardly prosperous. Isn't their stock measured in cents rather than dollars now?
Cheap Channel is hanging in there to hold their stock prices so the Mays family can walk away extremely wealthy, further crapping on their employees.
Of course, I'm sure the phones are ringing off the wall at Cheap Channel and Citadel from listeners asking for more syndication and voice-tracking.
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Mr Mike
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Posted: Tue Jul 22nd, 2008 10:18 pm |
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Respect the history of radio wrote: This makes Premiere's second big investment in talk talent in the last 30 days following the announcement of their new contract with Rush Limbaugh, which has been estimated to be in the range of $38 million per year for eight years along with a $100 million signing bonus.
I can now understand how Rush can handle the shots he takes on this board
Its funny reading the comments from the cheap seats Attachment: Rush Smokes.jpg (Downloaded 21 times) Last edited on Tue Jul 22nd, 2008 10:19 pm by Mr Mike
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ken371
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Posted: Tue Jul 22nd, 2008 11:09 pm |
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| I have to agree that I get tired of one boot in your ass neo con talk show after another, especially when you consider none of these people have ever held real jobs or served in military or know what the average American life is like. They are like vicious Sunday school teachers with a Jack Chick tract mentality made worse by the facts. How many times has El Rushbo been married and divorced ? And that little oxycotin addiction ? You know if some liberal personality had a simular problem there would parady songs and laughter. Thier pay is just as repulsive as CEO pay if you ask me. War the return of music on AM radio ( another thread I know ) OUT.
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Mr Mike
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Posted: Wed Jul 23rd, 2008 12:13 pm |
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ken371 wrote: I have to agree that I get tired of one boot in your ass neo con talk show after another, especially when you consider none of these people have ever held real jobs or served in military or know what the average American life is like. They are like vicious Sunday school teachers with a Jack Chick tract mentality made worse by the facts. How many times has El Rushbo been married and divorced ? And that little oxycotin addiction ? You know if some liberal personality had a simular problem there would parady songs and laughter. Thier pay is just as repulsive as CEO pay if you ask me. War the return of music on AM radio ( another thread I know ) OUT.
Its funny reading the comments from the cheap seatsAttachment: Rush Smokes.jpg (Downloaded 15 times)
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Respect the history of radio
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Posted: Wed Jul 23rd, 2008 12:37 pm |
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morrisjames wrote: With all due respect "Respect," look at how Cheap Channel and Citadel have had to cut the hell out of their budgets at all levels to finance Hannitys salary. Cheap Channel sold out long ago to pay for Rush.
Citadel is hardly prosperous. Isn't their stock measured in cents rather than dollars now?
Cheap Channel is hanging in there to hold their stock prices so the Mays family can walk away extremely wealthy, further crapping on their employees.
Of course, I'm sure the phones are ringing off the wall at Cheap Channel and Citadel from listeners asking for more syndication and voice-tracking.
With all due respect "Morris" how much research did you do when you were offered jobs? Did you ever say -- "Sorry....we have part timers not making enough money -- I can't accept this deal.
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ken371
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Posted: Wed Jul 23rd, 2008 10:33 pm |
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| Oh you crazy Dittoheads will defend your boy no matter what. I liked Rush at one time, he was fresh original, funny and definatly a welcome change from the NPR style talkshows, HOWEVER somewhere around 1995 his act jumped my shark. Rush is ok compared to his spawn, who try to outdo one another is venom toward anything liberal. Who all sound like they got a noose in thier car and just waiting to use it on somebody. I like Lou Dobbs and I like Benard Goldberg and I like the body language chick on O'Reilly I didnt know that everytime Hillary knits her eyebrows thousands of unborn child die, Now I do... point is to use your boy Rush's line Demonstrating absurdity by being absurd and thats what alot of talk radio has become.
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morrisjames
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Posted: Thu Jul 24th, 2008 12:51 am |
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| Respect, I can guaratee my salary was within range of the markets I worked in and I was never living "high on the hog." Nobody is worth the money big c-e-o's, hannity and rush make. nobody. period.
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Mr Mike
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Posted: Thu Jul 24th, 2008 02:57 am |
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morrisjames wrote: Respect, I can guaratee my salary was within range of the markets I worked in and I was never living "high on the hog." Nobody is worth the money big c-e-o's, hannity and rush make. nobody. period.
Its funny reading the comments from the cheap seats
Attachment: Rush Smokes.jpg (Downloaded 8 times)
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morrisjames
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Posted: Thu Jul 24th, 2008 04:11 am |
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 Mr. Mike. I'm glad to entertain you from my Walmart lawn chair. I can assure you that your comments are taken in the same spirit as those I hear on the Comedy Channel.
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