No more $400 million contracts for Rush Limbaugh

[kpete]

Rush Limbaugh's contract is up, his benefactors are broke, and his audience 'toxic.' Next?
Apr 16, 2016 10:01am HST by Hunter

Let us all take a moment to celebrate the fall of Rush Limbaugh, previous Republican kingmaker who is still filthy rich, thank you very much, but whose contract is up this year and whose previous radio benefactor is now teetering on the edge of penny-stock status. There won't be any more $400-million deals in Limbaugh's radio future.



The talker is facing ratings hurdles, aging demographics, and an advertising community that increasingly views him as toxic, thanks in part to his days-long sexist meltdown over Sandra Fluke in 2012. (He’s also stumbling through the GOP primary season.)




Concurrently, iHeartRadio’s parent company, iHeartMedia, is heading to court, teetering on bankruptcy. The once-dominant radio behemoth is saddled with $20 billion in debt, thanks to a misguided leveraged takeover engineered by Bain Capital in 2008, the same year the radio giant inked its disastrous Limbaugh deal.

..........
More:
http://m.dailykos.com/stories/1514346
http://mediamatters.org/blog/2016/04/12/rush-limbaugh-facing-big-pay-cut/209876

[RepubliCON-Watch]

1. While all of these people are celebrating, simultaneously....

progressive talk radio went down the tube as a result of this train-wreck. Too many advertisers pulled out of both right and left wing talk radio thus hurting the left more because of the sheer volume of righties available in the radio business.

Some real-life examples: KPTK, KPOJ, KKGN, KGO, KSAC, WDTW, etc.

[yeoman6987]

2. Very true.

Rush is going to retire one day.....maybe soon. I doubt he has to worry about an electric bill like the rest of us. As much as I despise him, he saw a way to make money and it paid off. We need a progressive to do this successfully.....although I would imagine it is harder then even the 90's and 2000's.

[underpants]

3. There was nothing misguided about the Bain plan

That's their game plan.

[silvershadow]

5. ^^THIS.

Mittens is stripping of the assets and they will BK a shell of the actual company.

[UTUSN]

4. R#5 & K for, I uninstalled iHeart when this story informed who they are. n/t

[Chakab]

6. So what? The damage is done. He's already rich beyond belief, and he's succeeded in spreading

propaganda and hate for decades.

[shadowmayor]

7. Megga Dildos

To the draft dodging - support the troops - blah blah blah sack of shit