Death of the Old Media II: Radio Stocks......

.....local radio isn't dead. It will be awhile before it takes the full effect of the new media onslaught that is occurring. That's why radio companies are diligently working to train terrestrial listeners to go to their station websites to listen to music online, download music, and check out exclusives.

BTW, Clear Channel needs to be applauded for its work in the website arena, as their listenership of internet radio recently surpassed Yahoo!, and, they are savvy about partnerships with artists, focused on producing events that can only be seen on their sites.

But the OTHER reason why radio is tying themselves into their websites is simple. Terrestrial radio has begun its descent into a new level of oblivion. It will take years for aspects such as the local morning drive show to end. But radio itself has already given up ground by saying goodbye to localism, news departments, night DJ's, even afternoon DJ's. One station in Charlotte is now making their morning show team record a show for that afternoon.....for no extra pay. Gee, originality there, eh?

The first radio patient in critical condition is on Wall Street. Let me let Jim Cramer talk about from a (yeah...) "web-exclusive" on TheStreet.com on 2/8/08.