iHeartMedia files for bankruptcy

iHeartMedia, the country’s largest radio broadcaster with around 850 stations and a leading outdoor advertising company, is filing for bankruptcy after spending years trying to manage its $20 billion in outstanding indebtedness. (NPR)

During the 80’s I had a front-row seat as Clear Channel Communications (the name before the cutesy “iHeartMedia”) gobbled up radio stations and gutted them of everything that made them local. Most of the bad guys got rich and got out long ago but I have no illusions about “hometown radio” returning.

Realistic-sounding speech

Just over a year ago Google presented WaveNet, a new deep neural network for generating raw audio waveforms that is capable of producing better and more realistic-sounding speech than existing techniques. It’s gotten a LOT better and is now capable of producing natural sounding human voices.

Google is using it for Google Assistant but hard for an old radio guy like me not to imagine this tech replacing radio announcers (are there still radio announcers?)

Radio stations no longer required to have local studios

Was fortunate to work in radio before “consolidation.” Even small towns might have two or three radio stations, each with different owners and management. After the rules changed, it soon became common for one company to own/operate ALL radio stations and automation (some software on a computer back in the 80s) made it possible to get rid of lots of on-air staff. But to call yourself a “Hooterville radio station,” you had to have a studio in Hooterville. No longer, it seems.

“Stations will still be required to keep a toll-free or local number staffed during normal business hours.”

Where a town once had a radio station with a tower and a transmitter and some DJs and maybe a news guy or two… now has an answering service.

“Because of the rule change, Newsmax Media CEO Christopher Ruddy predicted that “local news production could be moved to places such as New York and Washington as the big networks buy up local stations.”

Truth be told, that’s been happening for a long time. Some of that blood is on my hands but it’s an old story and too long to share. Let’s just say we stretched the definition of “local” to the breaking point. Glad I didn’t miss local radio when it was still local.