Rush Limbaugh's new deal with Clear Channel, as flashed by Drudge (also covered or addressed here and here at NewsBusters; here at the New York Times; and here in a very long New York Times magazine article), is north of $400 million for the next eight years.
Good tax planning too: Maharushie will get his reported nine-figure signing bonus this year before a possible President Obama does his hundreds of billions in damage. Limbaugh's tax savings, if the bonus is $100 million and Obama gets everything he wants, would be a hair under $17 mil (12.4% Social Security on all but $148,000, plus the 4.6% planned increase in the top rate).
One conclusion you can reach, based on what newspaper industry watcher Newsosaur told us earlier this week, is that Old Media covering the Limbaugh story is like zombies covering the living (link in excerpt was in original):
Newspaper shares slid $23B in 6 months
The value of 11 newspaper companies traded on the public market since 2005 dove a combined $23.7 billion in the first half of this year, falling almost as much in six months as they had in the three prior years put together.
Wall Street’s intensifying repudiation of the industry means that the companies in the group have lost a cumulative $49.7 billion in market capitalization in 3½ years, vaporizing 51% of shareholder value since Dec. 31. 2004.
To date, the decline in newspaper shares has not had a commensurate impact on the compensation (details here) enjoyed by the chief executives of several of the affected companies.
..... Journal Register Co. and the Sun-Times Media Group (nee Hollinger) suffered the worst losses in the 3½-year period, respectively shedding 99.1% and 96.9% of their value.
You really must go to Newsosaur's link to see the "Newspaper Rout" table he has created, but here are a few other lowlights:
- The McClatchy Company and Lee Enterprises are both down over 90% since the end of 2004.
- Gannett Co., Inc. owner of many metro papers as well as USA Today, which is one of the few papers not losing circulation, is down 73% in the same time period.
- The New York Times Company, down "only" 60.4% in that same time frame, is the fourth-BEST performer on the list.
Limbaugh got to where he is by being entertaining, informative, and 98%-plus accurate. He also famously didn't jump on to the Internet until it could be proven that he would at least break even.
How many publishers can say that? Therein lie the reasons why Limbaugh and the newspaper business are heading in opposite directions.
Cross-posted at BizzyBlog.com.
—Tom Blumer is president of a training and development company in Mason, Ohio, and is a contributing editor to NewsBusters
Editor at Large
Comments Policy
What an easy job; he just has to read some conservative blogs
July 2, 2008 - 19:52 ET by Daniel BakerThen recite over the radio. Newsbusters should getsome kickback from all the stories he reads from here.
Obama's Real Religion
Riiiiiight. It's so easy, I
July 2, 2008 - 19:55 ET by zhombreRiiiiiight. It's so easy, I bet even Daniel Baker could do it.
Time-spatial differences
July 2, 2008 - 20:02 ET by FoolicanBegging your pardon, NewsBusters has been around only since 2005. How long do you think El Rushbo has been around? Take a stab at it, champ; it's longer than three years, I can tell you that now.
Talk radio ain't easy (ask Air America)
July 2, 2008 - 23:07 ET by nkviking75You've obviously never done talk radio. It's not nearly as easy as it looks (ask Air America), especially when you don't lean on guests to fill up your time. Rush doesn't just read articles from the MSM and blogs; he synthesizes it for his audience. And he does it while being entertaining.
Twenty years of continued success is amazing. Clear Channel is smart to lock in Rush's program.
When you put the clowns in charge, don't be surprised when a circus breaks out.
Eat your hearts out MSMers.
July 2, 2008 - 20:06 ET by needleGosh, Rush Limbaugh to receive north of $400 million for the next eight years for doing his job. Eat your hearts out MSMers.
Any bets that there is anyone among all the ever-so-insightful MSMers who could possibly imagine what it is that Rush is doing Right and they are doing Wrong?
Nah, I didn’t think so.
Impunitas semper ad deteriora invitat.
A voice for radio.
July 2, 2008 - 20:07 ET by FoolicanI think it's because Rush has a voice for radio.
Frankly, I don't see how anyone could force themselves to like the voice of Katie Couric, or Keith Olbermann, or even Sean Hannity. Rush is best identified by his booming, authoritative, "Uncle Sam" voice that gives people (conservatives, at least) that warm and fuzzy feeling, that they think to themselves, "I'm listening to the right person."
It may well be so ...
July 2, 2008 - 20:13 ET by needle...that Rush has a great voice for what he does. But what about his reporting what the Media tries to hide, and unwinding the liberal spin that so often comes whirling out of the MSM?
Impunitas semper ad deteriora invitat.
Well, you clueless
July 2, 2008 - 20:16 ET by DingbatWell, you clueless capitalist. I suppose you will assert that just because, inter alia, hot water heater, steak and matress companies wish to pay Mr. Limbaugh's confiscatory advertising rates, that this is fair? He should redistiribuate his wealth to struggling enterprises, like Air America and NPR, to be fair. Why, I am sure, that Ted Kennedy and John Kerry, give most of their money away and/or disavow their wealth. Why, even Barry sacrificed living in a $400K condo before, amazingly, getting a $1mil+ mortage on a IL senator's salary.
Rush, one of my true heroes..
July 2, 2008 - 21:27 ET by JoggerNotKnocks it outta the park, again. I can see now why he says he cant afford the pay cut.
Makes me also wonder why Obama, Clintons, etc. want the prez possition SO BAD?
Yeah, I know.
I listen to Rush, and read the best blogs! This is one of the best!
Keep rocking newsbusters..Megga Dittos Rush!
It's Done for Him
July 3, 2008 - 08:17 ET by Copperhead Ridge"He should redistiribuate his wealth to struggling enterprises, like Air America and NPR, to be fair."
The government takes plenty of Rush's earnings and redistributes them to NPR. They take a lot of mine, too.
needle ,good post
July 3, 2008 - 11:18 ET by larry on LIjust to add to that ,the ny slimes reported in 07 a net profit available to common shares 108.94 mill vs rush's 50 mill a yr.and no announced layoffs to rush's staff. it's all in the presentation of the facts.
All of this news today
July 2, 2008 - 21:02 ET by bigtimerAll of this news today regarding Rush is a nothing but a great joy.
Eat your hearts out msm of all venues.
Too bad you don't take a lesson from this....nothing like fools...even old ones.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Definitely, bt...Rush gets
July 2, 2008 - 21:33 ET by motherbeltDefinitely, bt...Rush gets paid so much because radio stations want to carry him...they know they can make big bucks selling commercial time on his show. That's something liberals will never understand.
Clear Channel will ever have to rely on donations, a la Air America, to stay afloat. LOL!
And that's what galls them. That millions of people listen to him willingly!
Shoot 'em all; let God sort 'em out! - Marge Simpson
WHO WILL PAY FOR REDuNDACY??.
July 3, 2008 - 10:29 ET by STANISZCHARLIE I, GUESS NOW WITH ALL THIS MONEY GOING TO A BAG OF HOT AIR!! Citadel will have to RUN COMMERCIALS for the other 16 other hours him and the dead cowboy are not on. Just to pay for these two gas bags programs. What gets me is all these dolts who join his web site just to see someone smoke cigars. The fairness doctrine will leave clear channel holding the bag again.
At what cost?
July 2, 2008 - 21:05 ET byI have never fully understood certain elements of the right wing’s fascination and exhilaration over linking the financial demise of the free press with the rise of info-entertainment talk show hosts. Sure, we all love (to some extent) Rush Limbaugh and Jon Stewart, but do we really want to give up insightful (and expensive) global, national and local reporting?
What would founding father Benjamin Franklin have to say about this modern notion?
Anderson... Insightful?
July 2, 2008 - 21:12 ET by bigtimerAnderson...
Insightful?
Are you joking...the reporting from the people/venues you named are all leftist BS with an agenda...if they would just report the real facts without bias they would have nothing to worry about..now would they?
Insightful...
...ROFLMAO!
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Crickets
July 2, 2008 - 21:21 ET bychirping
Anderson, crickets chirping?
July 3, 2008 - 00:03 ET by R D HelmSounds more like your thought processes to me. :-)
Guv'mint skools I'd guess in your case.
And if it wasn't, perhaps you should consider seeking a refund?
The truth is insensitive. - Neal Boortz
Our necessities never equal our wants - BF
July 2, 2008 - 21:57 ET by acumen"...do we really want to give up insightful (and expensive) global, national and local reporting?"
Why not? The old media gave up on insightful reporting a long time ago in favor of agenda-driven reporting.
"What would founding father Benjamin Franklin have to say about this modern notion?"
Unlike Hillary I am not able to channel dead Americans. However, I would think Benjamin Franklin would continue to champion the free market system that makes or breaks any industry. But I'm confident the above doesn't concern sheeple that enjoy their concepts/talking points/propaganda being spoonfed to them.
Get a grip man, if this old media dwendling trend continues you might have to start...gasp...thinking for yourself.
Any fool can criticize, condemn and complain and most fools do. -- Benjamin Franklin
Anderson, let me try to explain
July 2, 2008 - 22:42 ET by jefflebowskiI'm going to type real slow for you. The right's fascination over the financial demise of the MSM (not free press) is that the MSM is so horribly slanted to the left. Conservative press makes money, liberal press goes out of business. Why, because liberals don't study for themselves. They are told what to believe by their leaders.
Personally, I don't like Rush and never listen to him. But I do enjoy the fact that he just signed for a fortune while left wing whiny newspapers across the country are laying off thousands. Death to the MSM!!
Jeff Lebowski
www.angrywhitedude.c...
Anderson, You are kidding
July 2, 2008 - 23:58 ET by futbolisgreat1Anderson,
You are kidding with this statement, right, you are joking, right....
"...but do we really want to give up insightful (and expensive) global, national and local reporting?
What would founding father Benjamin Franklin have to say about this modern notion? "
The question is, what would Benjamin Franklin say about the biased, partisan, in bed with the Democrats, joined at the hips with Democrats of today's news papers.
You must be a Liberal since your statement proves you are not too smart.
insightful? HAHA!!! who, the garbage spewed by New York Times? or maybe the Washington Post?! HAHAHAHA!!!!
oh my goodness, I am tearing I am laughing so hard at the ridiculous statement made by Anderson.
I guess Anderson finds it insightful the New York Times reporting on its front pages for over 20 days Abu Grab, but hiding deep with in its pages the torture, beheading, burning and hanging from a bridge the bodies of American contractors in Iraq by Islamic terrorist. Is this what you find insightful?
or maybe what you find insightful is the print medias lack of reporting on Obama's inconsistancies, flip-flops and ties to radical home grown terrorists.
or maybe what you find insightful is today's news papers openly cheering for Democrat candidates while claiming that they are not biased.
Anderson, just do yoursellf a favor, shut-up, for your own good, shut-up.
but thank you for the laughs!
"...I consider your religion to be Satanic..." on July 1, 2008 by Johnny_Banco
God Bless Rush, and God
July 2, 2008 - 21:51 ET by hookrightGod Bless Rush, and God Bless America. I saw the new G550 jet he is fixing to buy...it's a beauty
At least Rush is Humble......in a funny way....
July 2, 2008 - 22:43 ET by JayTeePeople don't watch TV in Traffic. Radio.
What have people been doing in Automobiles since the 50's ? Radio.
What's the Opposite of FM Radio ? AM Radio
How BIG is Rush's Audience ? Difficult to measure, but 400 Million $$$'s tells you someone is Listening, and Advertisers KNOW IT !
How much Money has Rush donated to worthy Military Causes ? Ask Harry Reid how much writing a letter to Rush is worth.
Rush is Right, Rush is RICH,
Katie Couric is a _____________.
The Republican Revolution will not be Televised - It will be on AM
Jay Tee, I have to disagree with you here.
July 2, 2008 - 22:49 ET by R D HelmWhat have people been doing in Automobiles since the 50's ? Radio.
Uh, maybe the radio was turned on, but I'm not sure they were always listening. :-^)
LOL-Heck, how do you think many of us latter boomers got here?
The truth is insensitive. - Neal Boortz
This is Why SUV's are so Popular
July 2, 2008 - 23:01 ET by JayTeeTakes you back to the 50's, when a Buick Road Master had room for Twins.
I chased a Girl in back of an Oldsmobile 98, and she got away.
The Republican Revolution will not be Televised
JT... That was a rich
July 3, 2008 - 00:05 ET by bigtimerJT...
That was a rich line there about Reid and cost of his letter...along with the other mental leftist midgets in the Senate that supported the BS.
Hello ebay!
The military gained.
"America isn't the problem...America is the solution." ~ Rush Limbaugh
How much Money has Rush
July 3, 2008 - 04:24 ET by DontFeedTheTrollsHow much Money has Rush donated to worthy Military Causes ? Ask Harry Reid how much writing a letter to Rush is worth.
In case you didn't know about that letter here is a link. Notice that Reuters headline doesn't show the amount as $4.2 million. They just can't get their facts straight!
D
Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.
Rush is honest, accurate
July 3, 2008 - 01:18 ET by Rush FanRush is honest, accurate and intelligent, and he is able to get to the essence of an idea or opinion and convey it to his listeners clearly. Many of us need our Rush fix every morning just as we need our morning cup of coffee. He is the ultimate voice not of Republicans, but conservatives (many who happen to be Republican). As for the 400 million - Rush said this morning (half serious, half joking) that the 400 million represented a cut in pay. I think most of us would agree he's worth every penny.
---------------------------------------------------------------
I'm voting for Barack Obama now that an AP poll shows people would rather barbecue burgers with Barack Obama than with John McCain. http://news.yahoo.co...
RF... He's my morning fix
July 3, 2008 - 01:30 ET by bigtimerRF...
He's my morning fix too... worth every single penny and then some.
Btw..you must live in the west too...eh?
"America isn't the problem...America is the solution." ~ Rush Limbaugh
Hello bigtimer. Yes, I do.
July 3, 2008 - 01:56 ET by Rush FanHello bigtimer. Yes, I do. Sunny California! How about you?
------------------------------------------------------------
I'm voting for Barack Obama now that an AP poll shows people would rather barbecue burgers with Barack Obama than with John McCain. http://news.yahoo.co...
RF... I'm in Big Sky
July 3, 2008 - 02:09 ET by bigtimerRF...
I'm in Big Sky Country..but born a So. Cal gal.
Glad to know ya'...
"America isn't the problem...America is the solution." ~ Rush Limbaugh
98%
July 3, 2008 - 07:52 ET byThe only issue I take is saying that Rush is right 98% accurate.
I'm not a fan of Rush, but I used to listen to him up until a couple months ago. I had to stop because my work schedule changed so it is really something I can't do anymore. If it wasn't for the newspaper industry, Rush would have nothing to talkabout because I don't think he has any people on his staff doign any actual reporting.
I do find him entertaining, but the one thing I never understood abotu a show like this is how the host can be an expert on ten different topics a day.
If it wasn't for the
July 3, 2008 - 08:07 ET by FoolicanIf the newspaper industry didn't exist, we wouldn't need Rush. Circular reasoning.
yea
July 3, 2008 - 08:17 ET byYeah, and if people could think for themselves and do their own critical analysis we wouldn't need people like Rush. So, yeah, you're right, circular reasoning.
What????
July 3, 2008 - 08:14 ET by River City"If it wasn't for the newspaper industry, Rush would have nothing to talkabout because I don't think he has any people on his staff doign any actual reporting."
Where did you get the idea that Rush was a newsman or a reporter? He is a commentator. He is an observer of life and people.
"Money is the scourge of the men who attempt to reverse the law of causality--the men who seek to replace the mind by seizing the products of the mind." Ayn Rand