Philly Radio: Lay-offs Reflect 'Current Economic Challenges'

Two months after competitor Audacy enacted layoffs in response to economic headwinds, Beasley Broadcast Group has done the same thing. The Naples, Florida-based radio company, which operates six stations in the Philadelphia market, instituted an unspecified number of layoffs reports Jeff Blumenthal at the Philly Business Journal.

“Like other publicly traded organizations, we are restructuring our operations to reflect the reality of the country’s current economic challenges,” Beasley said in a statement.

CEO Caroline Beasley

Asked for the number of jobs impacted, Beasley said, “As a matter of company policy, we do not discuss personnel matters in the media.”

On-air talent at Beasley's Philadelphia stations are among those caught up in the staff reductions.

Jamie Lynch, co-host of 97.5 The Fanatic’s morning drive show led by Jon Kincade, confirmed recent media reports that he was laid off last week. And this week, 93.3 WMMR afternoon drive disc jockey Paul Jaxon and country music station 92.5 WXTU midday disc jockey Charlie Maxx both confirmed on social media the recent reports that they were also laid off.

Prior to the layoffs, Beasley chose in May to part ways with one of its best-known and highest paid on-air personalities, Mike Missanelli. The longtime afternoon drive host at The Fanatic was replaced this summer by three younger and presumably cheaper hosts. The company did re-sign top-rated WMMR morning show hosts Preston & Steve to a new contract in May.

Beasley saw its second quarter earnings swing to a $4.5 million loss from a $5.8 million gain in the same period of 2021 despite a revenue jump of 8.8% to $64.8 million from $59.6 million. The company attributed much of that to an $8.6 million non-cash impairment loss. The company also noted that Philadelphia was among 11 of its 13 markets that enjoyed revenue increases.

Suby Ross of Robindale Media, which works with businesses on their media and advertising strategies, said there are more options for the advertising dollar now and in the current economic climate businesses need to have priorities with spending in general. Advertising spend is often one of the things under the microscope.

“Some of these businesses are trying to keep the lights on and make payroll,” Ross said. “And advertising has become a victim of that.”

Ross, a former account executive and general sales manager at Audacy and Beasley predecessors CBS Radio and Greater Media for 16 years, said television and radio station owners are trying to make the switch toward more digital offerings but that comes with additional costs. And they are competing with internet-centric companies that got a head start in digital advertising.