Chicagomuzik

I've got a whole city to hold down

October 07, 2004

Radiology

A couple radio-biz stories from the Trib ...

Re the sale of WLUP-FM 97.9: "On Monday, the Loop, owned by Bonneville International Corp. since 1997, was [swapped to] Indianapolis-based Emmis Communications. ... Salt Lake City-based Bonneville is paying $70 million and giving Emmis the Loop in exchange for three stations in Phoenix. The deal is the biggest radio news in Chicago since Bonneville paid $165 million to buy classical station WNIB-FM 97.1 in 2000. ... [T]he Loop, which has faded in terms of advertising billing under Bonneville's ownership, lost its cachet as a cutting-edge station years ago. Emmis said it is expecting 2004 revenue of $11.6 million for WLUP, down from an estimated $17 million last year."

And on the tenuous state of corporate radio in general: "Radio listenership is down, revenue growth is anemic, and complaints about programming are omnipresent. But the radio industry, said Stephen Soboroff, owner of KCJJ-AM 1630, a 10,000-watt independent station in Iowa City, has only itself to blame for its many troubles. 'Consolidation killed local radio, it dumbed down content, stripped news departments and eliminated the diversity that once made it such an enjoyable medium,' Soboroff said. 'Big Radio has made it worse.'"

Pot, kettle, TribCo.