Word: radioing
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Dates: during 2000-2009
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...Captain Chesley Sullenberger less than five minutes to become a hero, from the moment his Airbus A320 hit a flock of geese on Jan. 15 to its safe splashdown in the Hudson. For Captain Timothy Cheney and First Officer Richard Cole, it took an hour and a half of radio silence to become national punching bags. After their Northwest Airlines flight shot past its Minneapolis destination at 37,000 ft., air-traffic controllers feared the worst: A hijacking? A flight-deck catastrophe? After 91 minutes, the pilots resurfaced, saying they'd been absorbed in their laptops, reviewing a new crew...
...hand, the fortunately named Bob Proffitt, and found a local private-equity firm, Endeavour Capital, that was willing to back Wilson's new venture, Alpha Broadcasting. It paid $11 million for Paul Allen's Portland stations--Allen bought them for about $50 million. Experts say the price premium for radio stations has fallen from 20 times earnings to eight times...
...Radio has many would-be saviors. There are those, like the recently merged Sirius and XM, that have put all their chips on the pay-radio table. Others, including iBiquity Corp., believe the future is in HD radio. And there are others, like Mike Agovino, COO of Triton Digital Media, who believe that all radio stations need to create a digital infrastructure: ESPN Radio apps, Internet video of musicians or a morning-show host, online audio streamed through your computer at work. "We talk about the infinite dial," says Agovino. "The ability to access 20-, 30-, 40,000 radio stations...
...like much radio content, it's mostly talk. Satellite radio has been stunted by the recession and a lack of must-have content beyond Howard Stern. Consumers have taken slowly to HD radio receivers--there's an industry joke that HD stands for Huge Disaster. And there's no money to invest in digital. "The biggest challenge we've got right now in the industry," says Agovino, "is that companies are struggling to stay out of the way of their bankers...
Wilson's strategy is to take radio back to its local roots while at the same time keeping his company private and well capitalized. "When you cut the costs out of this business, you cut the product. Then you don't have anything to distinguish you from iPods or anything," he says...