Home URBAN OH NO: Lew Dickey says Radio Headed for Shakeout?????

OH NO: Lew Dickey says Radio Headed for Shakeout?????

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The faltering economy is hitting the radio industry on all fronts and a dean of the Atlanta radio market says it’s the most challenging time broadcasters have faced in more than 20 years.

Lew Dickey Jr., CEO of Atlanta-based Cumulus Media Inc., said sputtering advertising plus the upheaval in the stock market will cause a major shakeup in the land scape of broadcast radio over the next several years.

“I think there’s going to be a pretty big shakeout and I think that half the companies in business today will be gone within 36 months,” Dickey said. Cumulus is the nation’s second-largest broadcaster with 344 stations owned and operated.

Atlanta is the nation’s seventh-largest radio market, according to Arbitron.

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