Love 105, 93X parent files for bankruptcy
For over two decades, there seemed to be no national hardship that Tom Bernard's dick and fart jokes couldn't handle.
But when KQRS, 93X and Love 105's parent company, Citadel Broadcasting, filed for Chapter 11 bankruptcy over the weekend, even a cleverly triggered "I have to poop" soundbyte was a limp, ineffective blow.
Citadel has it all backwards--they've got a $2.46 billion debt, and $1.4 billion in assets. Usually, good companies have those numbers reversed.
It's not just pretend internet money and the careers of disembodied, corporate owned, shock jock baritones at stake here, however. Citadel, who owns over 220 radio stations nationwide, controls around 18% of the local radio market. That's an enormous piece of the pie.
Citadel spokesmen insist they'll be going about business as usual while the restructuring gets taken care of. Which presumably means there'll be no hiccup in Tommy Bombheart's daily ridiculing of local minority groups.
For us at Gimme Noise, the threat facing Love 105 is the one we fear most keenly. Love 105 was actually a quality station with a deep library, and playlist habits that carefully balanced familiar pleasures with deep cuts.
In fact, we love Love 105 so much that, God help us, we may actually root for Bernard's scatological and quietly racist humor to keep the ship afloat. Hey. Desperate times make strange bedfellows.