Katz Media Downsized; New Marketing Unit Launched
January 8, 2009 at 1:23 PM (PT)
ALL ACCESS has learned that CLEAR CHANNEL-owned KATZ MEDIA is completing a staff downsizing that affects roughly 122 people from all departments, but mostly in sales, which accounts for an overall reduction of 8.5% of the workforce.
While this is not good news, on a percentage-basis this downsizing is less than most others. Looking at some recent downsizings, here are some comparative numbers:
AMERICAN EXPRESS 10%
ASSOCIATED PRESS 10%
VIRGIN MEDIA 15%
What's Next At Clear Channel?
The cuts at KATZ MEDIA, which was a more straightforward process, were made ahead of the CLEAR CHANNEL GM meetings, which are currently going on in DALLAS. This week's meetings are focusing on CCR and PREMIERE RADIO NETWORKS, which will eventually yield a restructured operation.
Despite what you may have read elsewhere, there is nothing concrete coming from those DALLAS meetings so far.
Katz Launches National Marketing Unit
KATZ MEDIA GROUP launched a national marketing unit TODAY (1/8).Known as KATZ MARKETING SOLUTIONS, the new unit will be led by BOB MCCURDY and will include national marketing experts previously part of the company’s KATZ ADVANTAGE and MARKETING SOLUTIONS groups.
"The radio industry has built an unparalleled digital offer over the past five years that now spans broadcast, online streaming, on-demand, mobile, real-time data, live events and of course viral platforms," said KATZ MEDIA GROUP CEO STU OLDS. "Realizing the full potential of this powerful new collection requires a marriage of marketing strategy and execution. There’s no opportunity in 2009 to sacrifice innovation, and there’s no need to if you’ve got an intimate understanding of how everything fits together. Our expertise in implementing breakthrough programs is vital to realizing successful marketing programs."
"Quite simply, innovation wins," said MCCURDY. "There’s a strong push for new ideas that demonstrate radio’s genuine value as an advertising and branding platform, and we’re uniquely positioned to help guide marketers through the rapidly expanding opportunities now open to them. Radio’s relevance and effectiveness is underscored in a difficult economy and we’ll be giving advertisers the customized, effective solutions that produce outstanding returns on investment."