Most radio deals close with a simple press release announcing that the deal has closed and life goes on somewhat quietly. Not the CBS/Entercom deal as CEO David Field, COO Weezie Kramer and President of Programming Pat Paxton got right to work on day one, unveiling a slew of changes they had obviously been getting ready. Let’s start with Entercom’s plan to cut down on the number of commercials its stations are playing.
Entercom first announced on Friday that it will implement three new business policies. The company says these three policies “will enable Entercom to provide greater value for advertisers while improving the listener experience.” Although it was not specific about the number of units it will play every hour, the company announced plans to reduce commercial loads by 5%.
The second new policy is to prohibit cash infusion advertising deals which the Company views as a poor business practice and inconsistent with its strategic goals. Entercom COO Weezie Kramer tells Radio Ink these are deals some companies do to secure ad dollars today in exchange for giving a multiple of those dollars at a huge discount in the future.
And the third new policy is to eliminate future sales of advertising with spot resellers which like cash infusion deals, the company views as a poor business practice and inconsistent with its strategic goals.
Another change for the company is a brand new logo and website which you can check out HERE
I heard an interesting interview with David Field on Bloomberg Radio on 11/20 from 3:15-3:30 PM regarding the merger. He refused to take a question on Iheart’s financial problems.