I think I’ve seen about two dozen articles about Stephen King exiting ownership of his Bangor, Maine, radio stations, and each has been accompanied by some variation of “wow, even a celebrity can’t make a go of it financially in radio today.” (BMM 12/2)
It’s a truly extraordinary phenomenon, with the number of half-truths and opinions presented as fact and straight-up misleading information about the state of radio, particularly online.
I appreciated the positive coverage CBS News gave to Elvis Duran (though a millionaire nationally syndicated iHeart host is probably not indicative of the state of radio) while we live in an information echo system perpetuating the constant drum beat of radio’s death, failing, and demise.
At the risk of sounding like a conspiracy theorist, also so abundant online these days, I think there really is a narrative driven by digital media providers to paint traditional outlets as dying at worst or quaint relics at best.
Back to Stephen King, he’s one of a long line of celebrities who have owned radio stations, from Stevie Wonder to Pat Sajak and Buck Owens to Merv Griffin, all with varied success.
Today, like always, station ownership and management are major endeavors with lots of details and moving parts. If an owner isn’t going to be hands-on, they’d better find someone they can trust and still be available to that person.
Yes, radio faces listenership and revenue challenges (almost all of them self-inflicted), and King’s stations in Bangor are no different. Unlike larger Portland to the south, it’s not as cosmopolitan or growing as rapidly in its urban or suburban population.
That’s going to mean an extra level of intensity in finding ears and revenue, and national dollars (down everywhere as radio is so poor at showing Madison Avenue its true value proposition) are going to be next to nonexistent.
Further, from what I read, the master of horror no longer lives in town at least full time, and again, local radio ownership can be driven by relationships. Also, to the point, King is a vocal and outspoken liberal who has made no bones about his opposition to Trump and all things on the right, which can affect who does business with you locally, especially in a politically moderate city sitting in a ruby red metro area.
You and I don’t know King’s finances, personal life, health, or that of his closest associates, but I’d guess that as he nears his 80s, he’s not interested in what is necessary to run his cluster any longer and is not satisfied with the cash ROI he’d get from potential buyers. Turning in the licenses makes it easy for him to wash his hands of the situation quietly and cleanly.
Who knows.
But, as scary as the state of media and the economy feel at this moment, no, Stephen King getting out of radio ownership is not a perfect example of a larger problem. He’s just a guy who writes scary stories and, like the internet, likes to predict radio’s untimely demise.
Don’t believe it still? Check out the Wikipedia page on King that reads: “his advancing age and financial losses from the stations as reasons for the closure,” referring to the radio station sale.
Then click the New York Times article, which simply states, “King had the desire to get his business affairs in order.”
Big difference. See? Less scary with the lights turned on!
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Robby Bridges works for Press Communications where he serves as the VP of Programming for 99.7 and 107.1 The Boss. He also hosts the morning show ‘Robby and Rochelle’ alongside his wife, Rochelle. He’s been with the company/stations since September, 2021.
Prior to arriving in New Jersey, Robby spent decades working across the country in many top markets for many highly successful brands. Among them include Z100, WPLJ and Q102. He has also worked in Detroit, Boston, Providence, Portsmouth, NH, and served as an exclusive guest host for Scott Shannon on the True Oldies Channel.
To get in touch, reach Robby by email at RobbyBridges@hotmail.com.
