Greater Media's Smyth Touts Benefits Of Being A Private Company
June 1, 2006 at 6:08 AM (PT)
GREATER MEDIA Pres./CEO PETER SMYTH's monthly "From the Corner Office" column at the company's website addresses the joys of being a privately-held company competing with public companies, with SMYTH noting that "we do not have to chase the 90-day window of quarterly reporting, and we can look at our business on a longer time line."
Citing the ability to spend on new technology and people without having to show immediate return on investment, the ability to maintain a decentralized management structure, and the ability to "give (listeners) what they want" based on local research and tastes, SMYTH asserts that a private company can better "produce results for businesses large and small at a remarkably effective cost." He notes that "our ability to navigate change and find it challenging and exhilarating, and our ability to stay the course" is a reason other companies (such as EMMIS) are looking at going private ("We're thankful we're already there").
Read the column by clicking here.