Media companies have come and gone for decades. Some shuttered, while others were sold or merged. Clear Channel, Jacor, Infinity, AM/FM radio, Westinghouse, and countless others—all giants of media—either merged or were sold.
For decades, radio served America as a trusted companion. Spoken-word audio acted as a beacon, informing, entertaining, and connecting communities.
That’s one reason eliminating CBS News Radio off the top of the hour for more than 700 affiliates comes as a shock. The closing of a legacy institution like CBS Radio signals a corporate shift. While emphasizing the exponential growth and transformation in how audiences consume content.
Listeners have rapidly migrated to podcasts, streaming platforms (including CBS), and on-demand audio. Appointment listening has eroded, and our industry is now forced to confront fading relevance.
Here’s a snapshot of recent harbingers for our business:
CBS News Radio shutdown – May 2026
CBS News Radio, under its parent company Paramount Global, will undergo a full network shutdown on Friday, May 22. Hundreds of affiliates will be left to find another news partner, while an estimated 70 people will lose their jobs. The national radio news network will cease operations. CBS News will still provide online and television coverage of regional, national, and international news.
Cumulus Media bankruptcy – 2026
For the second time in six years, Cumulus Media filed for Chapter 11 bankruptcy protection to restructure more than $600 million in corporate debt. The company’s 400-plus radio properties across the U.S. will continue to operate, and employees will remain paid. Cumulus Media is also in a legal dispute with Nielsen over ratings pricing and Nielsen’s monopolistic hold on the ratings business.
Audacy bankruptcy transformation – 2024
With more than 230 nationwide radio stations, Audacy continues to deal with the $1.5 billion in debt incurred in 2017 when CBS Radio merged with Entercom, forming Audacy. The company has since emerged from Chapter 11 bankruptcy protection. The result included nearly a 10% reduction in force, or around 300 employees.
SiriusXM restructuring – 2025
Non-traditional platforms are not immune to layoffs. SiriusXM underwent major layoffs and internal restructuring in 2023, reportedly cutting its workforce by 8%. Then followed another round of reductions last year affecting roughly 150 positions. The company continues shifting toward an app-based and streaming model while shutting down or consolidating select satellite channels.
iHeartMedia + TikTok – TikTok Radio
Announced in the fall of 2025 and launched this month, iHeartMedia has partnered with TikTok on a three-pronged TikTok Radio product across several dozen stations. This includes broadcast, streaming, podcast integration, and TikTok influencers appearing at high-profile iHeartMedia events. Regarding workforce reductions, iHeartMedia has kept a low profile on nationwide job cuts. However, rolling staff reductions remain ongoing.
It’s clear the consolidation era is unwinding. Companies like CBS, Entercom, and Audacy are proving to shareholders and the public that mega-mergers did not solve long-term revenue decline.
Debt remains the industry’s biggest problem. Repeat bankruptcies from Cumulus and Audacy signal that high leverage, combined with declining ad revenue, continues to strain financial stability.
National radio networks are disappearing. Those of us experienced enough to remember networks like Jones, Dial Global, and NBC Radio News are likely less surprised by the demise of the CBS Radio Network. One longtime programmer noted, “what took so long”?
Tech companies are taking over content creation and programming influence. This is not TikTok’s first attempt at a broadcast partnership; its effort to scale a SiriusXM agreement never fully materialized. However, iHeartMedia offers a much wider reach with more than 800 non-subscription radio stations.
Does this signal that radio is losing its grip on new music discovery?
Beyond empty studios, fading community connections, and declining ad revenue, the true cost of consolidation is people. Some of the most creative and loyal professionals were once found in radio. Many still remain and have adapted—even flourished. The investment this platform, Barrett Media, is impressive at a time when brands are shrinking and talent is disappearing.
In some ways, certain aspects of radio have never been healthier. While large, heavily leveraged groups struggle under debt, medium and smaller markets continue to thrive and serve their communities.
With seven markets spread across northern Minnesota, CEO Bob Leighton has built Leighton Media into several community-focused, successful clusters across multiple formats. The company has also developed a digital department that rivals larger groups.
Based in Columbia, Missouri, the Zimmer brothers expanded into St. Louis radio years ago to create Zimmer Communications. They used that success to strengthen their small-market foundation. Their staff remains strong across both programming and revenue, while their in-house agency supports businesses of all sizes.
In Cedar Rapids, Iowa, a post from longtime radio programmer and former tour manager Chad Taylor caught attention last week. Taylor, a Cedar Rapids talent working with a locally rooted Iowa group—KZIA—represents a station committed to community. The cluster prioritizes local, live talent while actively expanding its digital footprint.
Chad posted the following piece last week and agreed to share it in this week’s column:
Bravo.
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Kevin Robinson is a passionate award-winning programmer, consultant and coach – with multi-formats success all over the country. He has advised numerous companies including Audacy (formerly Entercom Communications), Beasley Broadcast Group, Westwood One, Midwest Communications, Townsquare Media, Midwest Family Broadcasting Group, EG Media Group, Federated Media, Kensington Media, mediaBrew Communications, Starved Rock Media, and more. He specializes in strategic radio cluster alignment, building lean-forward tactics and talent coaching – legacy and entry-level – personalities.
Known largely as a trusted talent coach, Kevin is the only personality mentor who’s coached three different morning shows on three different brands in the same major market to the #1 position. His efforts have been recognized by The World Wide Radio Summit, Radio & Records, NAB’s Marconi, and he has coached CMA, ACM and Marconi Award-winning talent. He is also in The Zionsville High School Hall of Fame as part of the 2008 inaugural class. Kevin is an Indiana native – living near Zionsville with his wife of 39 years, Monica and can be reached at kevin@robinsonmedia.fm.
