Westwood One Downsizes

Radio news from the USA

Postby tuned » Thu Jul 27, 2006 3:22 pm

The radio syndication home of Tom Leykis, Bill O'Reilly and Don Imus announced today that it was laying off 70+ staffers across the country.

"President/CEO Peter Kosann said the action "is part of several steps our company will take ? and must take ? to increase productivity and improve the utilization of all our resources."

"The advertising marketplace has proven to be both challenging and ever-evolving," Kosann continued. "That said, given our position as a 'pure-play' content company, Westwood One is uniquely qualified to capitalize on distribution opportunities within radio and television, as well as new platforms across emerging media. The decision impacting our company today does not ? and cannot ? diminish our resolve, focus and vision for continuing to push Westwood One forward.

"As we continue to face the immediate challenges in the industry, please know that your continued hard work, focus and passion is truly appreciated. Today's announcement has not been easy, but with your support and understanding we can ? and will ? ensure our future success."

Don't you love the corporate doublespeak?
Gut staff and content and try and spin it into a positive.
Looks like the guy wielding the big axe is doing alright though....
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