Masters: Praying for a miracle?
From various sources
TALK RADIO NETWORK’s AMERICA’S MORNING NEWS has named MATT RAY as its new permanent host. RAY has worked as an anchor at CUMULUS News KGO-A and Talk KSFO-A/SAN FRANCISCO and has also worked at KXL-A/PORTLAND and KPAY-A/CHICO, CA.
Mark Masters, TRN CEO, blames TRN’s financial problems on its former ad sales partner, Dial Global, which TRN sued last fall, alleging it violated antitrust laws by conspiring to monopolize spoken word syndication. “All of the TRN companies have been severely damaged by the Dial Global/Westwood One conduct,” he said, causing TRN to “make wrenching internal decisions and to take painful internal actions,” adding that TRN’s companies “have now been forced to reduce as many operating costs as possible.”
Masters is facing legal threats from various former on-air people for claimed breaches in contractual arrangements. He would of course have to prove his claims against Dial Global as they relate to his alleged inability to make payroll to attorneys representing former TRN talent long before any resolution of TRN’s suit .
TRN’s scaling back comes during a difficult period for the larger network radio space. According to Kantar, network radio revenue tumbled 19% in the second quarter after a 15% first quarter decline.
