Connect with us
BNM Summit

Media Business

Bell Media Shuts Down Six AM Radio Stations, Sells Three Others

News Talk 1290 in London is also included in the stations that are being shut down.

Maddy Troy

Published

on

Bell Media, the largest radio operator in Canada, has announced the closure of two AM stations in a major market and the potential sale or shutdown of seven other AM radio stations as part of a media portfolio overhaul. The company will also cut 1,300 positions, representing three percent of its workforce, with a six percent reduction in payroll at Bell Media, which includes its radio, television, out-of-home, and digital business units.

Bell Media CEO Mirko Bibic explained the need to adapt to the challenging economic, regulatory, and competitive environment, stating, “To succeed… we need to accelerate our shift away from how telecom and media companies have operated in the past.”

He highlighted the financial struggles of the company’s sprawling news operation, projecting a $30 million loss for this year, in addition to the $188 million loss from its legacy phone business. Bibic also noted that the profitability of the radio business had declined by 50 percent since the onset of the COVID-19 pandemic.

Bell Media, which owns the CTV television network and various radio and television stations, plans to consolidate news gathering under a single management team across its media outlets.

The company will also close its news bureaus in Los Angeles and London, while downsizing the bureau in Washington.

The affected radio stations set to be shut down are all on the AM dial, including stations in Vancouver, Winnipeg, Calgary, and Edmonton. News Talk 1290 in London is also included in the stations that are being shut down. Bell Media has already found buyers for three other AM stations in Hamilton and Windsor but did not disclose the identities of the buyers.

Bell will inform employees about job losses this week, and while 1,300 positions will be eliminated, the actual number of people losing their jobs will be lower as approximately 30 percent of the positions are already vacant. Bibic acknowledged that the job reductions align with industry trends and emphasized the company’s commitment to investing in growth areas, strategic acquisitions, partnerships, and service launches.

The CEO stated, “While we are eliminating roles in areas where demand and revenue are declining, we are continuing to invest in key growth areas… to improve our competitiveness and innovation agenda, as well as hiring in growth areas to ensure our long-term success.”

Subscribe To The BNM Rundown

The Top 8 News Media Stories of the Day, sent directly to your inbox every afternoon!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Media Business

Benztown to Host Programming Webinar Featuring Dr. Ed Cohen and Mike McVay

“In today’s radio environment where every quarter-hour matters, there are quarter-hours hidden everywhere.”

Barrett News Media

Published

on

A photo promoting a Benztown webinar featuring Mike McVay and Dr. Ed Cohen

Benztown is announcing plans for a webinar featuring Dr. Ed Cohen and Mike McVay centered around utilizing data to increase listening credits in the Nielsen radio ratings.

Unlocking Radio Secrets: Every Minute Matters; Improving Your Ratings will be held on Thursday, June 27th at 1 PM ET. In the webinar, Benztown will showcase its SpotGPS tool for radio programmers.

The software “is a powerful tool … that transforms airplay data into powerful and actionable commercial content analysis in a compelling, visual, and intuitive form that is a game-changer for radio stations,” according to the company, who designed it specifically for PPM markets.

“In today’s radio environment where every quarter-hour matters, there are quarter-hours hidden everywhere. Some radio stations know where they are and how to take advantage of them. Knowing where they are illuminates an otherwise dark room,” the company said of the webinar. “Some radio stations accept the darkness and blame ratings methodology. The smart ones live in the light.”

The upcoming webinar is free to those wishing to attend. To register, click here.

Subscribe To The BNM Rundown

The Top 8 News Media Stories of the Day, sent directly to your inbox every afternoon!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Continue Reading

Media Business

Remote News Service Adds 3 New Markets

“I’m so pleased that all of our team’s hard work is paying off.”

Barrett News Media

Published

on

Remote News Service has added three new markets to its growing list of affiliates.

The news network will now provide services to WXJB-FM near Tampa, WIRY-FM in Plattsburgh, New York, and to Oklahoma City stations owned by Champling Broadcasting — which includes Freedom 96.9.

“I’m so pleased that all of our team’s hard work is paying off. Happy clients, make us super happy, and really proud,” Remote News Service owner Lesley Lotto said.

“The addition of Remote News Service has been a big boost to our local news,” stated WXJB GM Barbara Manuel. “It has dramatically raised the profile of our talk station. We are already out selling it!” 

“I would highly recommend Remote News Service if you are considering an outside source to cover your local news. Our anchor has been very responsive and professional,” added WIRY co-owner Joey Trombly. “We transitioned to this service and it was seamless. We are getting positive feedback in our marketplace since we made this change”.

Subscribe To The BNM Rundown

The Top 8 News Media Stories of the Day, sent directly to your inbox every afternoon!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Continue Reading

Media Business

Libsyn Completes Integration With YouTube API Features for Podcast Publishers

“By integrating YouTube directly into our platform, we’re empowering creators to expand their reach and engage with a broader audience while simplifying their workflow.”

Barrett News Media

Published

on

A photo of the YouTube and Libsyn logos

Libsyn has announced it has successfully integrated with YouTube and its new Podcast API features, making publishing to YouTube Music an easier process for its customers.

“Our mission at Libsyn is to be the premier destination for anyone at any stage of their podcasting journey to distribute their podcast, grow their audience, and monetize their content,” said CEO John Gibbons. “We’ve evolved from a singular hosting provider to a suite of services for creators and advertisers through our investments in platform innovations and expanded partnerships.

“By integrating YouTube directly into our platform, we’re empowering creators to expand their reach and engage with a broader audience while simplifying their workflow.”

Podcast publishers with Libsyn can now directly upload their episodes to YouTube Music. The new integration can also convert audio files to MP4 video files.

Streamlining the process to upload to YouTube Music as two studies in 2023 showed YouTube is the most used podcast platform in the United States.

Subscribe To The BNM Rundown

The Top 8 News Media Stories of the Day, sent directly to your inbox every afternoon!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Continue Reading
Advertisement

Advertisement Will Cain
Advertisement

Upcoming Events

BNM Writers

Copyright © 2024 Barrett Media.