This is what I’m thinking:
The odyssey of what is going to happen to the Audacy radio stations, including WBEN-AM, got a lot more intriguing late last week when left-leaning billionaire George Soros reportedly bought 40% of the company’s debt from a hedge fund at 50 cents on the dollar.
The news, confirmed by Audacy, the second-largest radio company in the country, sent shock waves into the industry nationally and locally.
The New York Post reported an insider, a Republican, believed Soros Fund Management might have purchased $400 million of the Audacy debt to influence public opinion in the 2024 presidential election.
The Post story quoted the Republican as saying, “this is scary.”
Those words also could apply to WBEN, the local Audacy news and talk station that airs conservative talk show hosts Tom Bauerle and David Bellavia.
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After all, Soros has been a frequent target of conservative hosts across the nation. It would be a shock if he was a fan of the format. Presumably, he didn’t buy the debt to continue business as usual.
You might think he would like to see the political tone change if he takes control of the company, and that would put the jobs of conservative hosts in jeopardy.
However, there is some speculation from insiders that Soros would need to buy more debt to have some say about content.
The key word is speculation. Nobody really knows Soros’ motivation.
WBEN’s conservative hosts presumably would keep their jobs if the station were sold to someone who wants to keep a format that has been successful with an older audience in Western New York.
According to trade publications, Buffalo is the No. 1 market for AM radio in the country.
A shift to progressive or liberal talk would be more in keeping with Soros’ profile but that comes with some risk. Liberal radio has always been a tough sell.
On Jan. 7, Audacy filed for bankruptcy with $1.9 million of debt.
The Post said its sources told it that Soros’ stake would be about 40% of the company’s senior debt and could give him “effective control of the media giant when it emerges from bankruptcy.”
There won’t be any changes – if any – for months.
A hearing in a Houston bankruptcy court to approve the Audacy restructuring plan was slated for Feb. 20.
Even if the restructuring is approved, the Federal Communications Commission could take months before granting its approval.
Attention, fans of college basketball star Caitlin Clark who also are subscribers to the streaming service Peacock.
After watching the University of Iowa star break the record for scoring in women’s college basketball last week against the University of Michigan on Peacock, I checked the schedule to see when Iowa is next on NBC’s streaming service.
Iowa’s games featuring Clark at 7 p.m. Thursday against Indiana and Feb. 28 at Minnesota are on the streaming service.
WIVB has posted a job opening for a multimedia journalist. I’m not sure if it is for Tara Lynch’s job – she is leaving to take a job in Baltimore – but it fits the description.
The job posting has a lengthy list of qualifications, including a “minimum two years’ experience in news experience (depending on market size).”
It actually is a laugh-inducing list before you get to the punchline: the salary: $17.75 to $18.75 an hour.
In other words, you can make almost as much money as you would if you worked at a fast-food restaurant without the college degree that might have put you in debt.
The hourly salary range requires an additional skill: math.
The salary range is $36,420 to $38,500 a year, without overtime.
Is it any wonder that young local reporters leave after a few years of seasoning here to either work in public relations or move on to bigger markets?