Aug 31, 2009


Philip R. Klein continues his personal feud with KFDM in his latest posting on the Southeast Texas Political Review (emphases are mine):
The SET Political Review has learned that KFDM's parent company - Freedom Communications will file for bankruptcy this week according to both industry and publish reports this morning. Freedom has been struggling over the last year and the cost cuts have not been successful.
Industry sources tell the Review this morning from New York - "We are not sure that they can emerge successfully without major changes in the way they do business and the reduction of at least 25% of their current staffing levels."
KFDM - who has been number one in the market over the last decade - and who has shown signs of struggling to even meet payroll - with salary reductions, layoffs and furloughs with employees - may be a jewel in the company portfolio and may be up for sale - not closure as some stations will face closure and massive layoffs just to stay open post filing of the bankruptcy.

A source at a local investment firm
told the Review this morning : "If I worked at KFDM - I might get my resume and tapes together."
We will keep you updated. And we feel horrible for all of the nice people at KFDM.
I acknowledge that Philip has more experience with bankruptcy than I (see sidebar), but typically, he invents "industry sources" in New York to cast KFDM in the worst possible light.

Readers may remember that Klein's "industry sources" have also predicted that Hearst would fold The Beaumont Enterprise into the Houston Chronicle. When that didn't happen, Klein's industry sources predicted that Hearst would sell The Beaumont Enterprise within the year

That hasn't happened, but he's now claiming that Freedom Communications will sell Channel 6, a "jewel in the company portfolio." I'm not sure why Klein thinks KFDM is more of a jewel than the company's other properties, such as West Palm Beach, Albany, or Chattanooga, but I'm absolutely sure we'll revisit this many times in the future.

Readers may remember that Klein contradicted himself in this article from July 28, 2009:
We checked with 12 and 4 - business is good and raises have been given on time.
Presumably, Channel 4 is doing well because thousands of viewers in Southeast Texas are tuning in to watch the progress of Philip's lawsuit against Google.  There is a reason that KFDM/Channel 6 has been the top station in Southeast Texas for the past four decades, not one as Klein claims.

What Klein didn't mention is that Channel 6 not only made it's 2nd quarter budget, but station employees received bonuses for the second consecutive quarter for beating EBIDTA. This is not what any informed source would call "signs of struggling to even meet payroll."  In his original article, Klein claimed that KFDM has had two employee furloughs, another of his blatant lies.

Most importantly, what does this have to do with politics in Southeast Texas?  In my opinion, it's another example of Klein's hidden agendas.  Care to explain why KFDM won't put you on the air, Philip? Or should we save for sworn testimony?


Anonymous said...

Gus, doesn't Klein's same bullshit over and over get old to you?

Anonymous said...

Thank you Gus for telling the truth about the situation at KFDM. PRK will never mention those performance bonuses because that doesn't fit his agenda.

Anonymous said...

"And we feel horrible for all of the nice people at KFDM." Sure he does, the ones he criticizes regularly because they don't kiss his fat butt.

Klein's crackberry said...