Terrestrial Radio: How They Define Their Own Competitive Landscape May Help Satellite Radio's Merger Efforts

Why Terrestrial Radio can't fight Satellite Radio's definition of a competitive market
via www.orbitcast.com, Feb.22

There's something I would like to briefly highlight from a previous post, that I think deserves a post of it's own. And that is that CBS Radio (and other broadcasters) actually have already defined the competitive landscape in their SEC filings.

Here's a snippet from CBS's 10-K (with emphasis added):

Radio Competition.
The Company's radio stations directly compete within their respective markets for audience, advertising revenues and programming with other radio stations including those owned by other group owners such as ABC Radio, Clear Channel Communications, Cox Radio, Emmis Communications, Entercom and Radio One. The Company's radio stations also compete with other media, such as broadcast, cable and DTH satellite television, radio, newspapers, magazines, the Internet and direct mail.

The radio industry is also subject to competition from two satellite-delivered audio programming services, Sirius Satellite Radio and XM Satellite Radio, each providing over 100 channels of pay digital audio services. Sirius and XM sell advertising time on some of their channels and compete with the radio industry for programming..read more: here

2/21/2007 05:55:00 PM

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