Steve Butler, longtime news and program director at KYW Newsradio (1060-AM), will be leaving the station at the end of the year almost 40 years after he began his tenure there. Sources said Butler informed his staff via email that the decision to leave was his and that he would work with Entercom Communications Corp.Philadelphia Market Manager David Yadgaroff to identify a successor.
In a statement the Bala Cynwyd-based broadcast company confirmed “that Steve Butler has decided to leave Entercom Philadelphia before the end of the year. We thank him for his many years of service to the station and we wish him all of the best.”
Shortly after Entercom (NYSE: ETM) closed its transaction to acquire CBSRadio, Butler was named news format captain for the combined company — reporting directly to President of Programming Pat Paxton and the since departed Executive Vice President for Programming Chris Oliviero, writes Jeff Blumenthal in the Philadelphia Business Journal.
Entercom CEO David Field has openly discussed what he perceived to be poor divisional leadership at legacy CBS stations being partly responsible for a $2.3 million fourth quarter operating loss. In May, Entercom’s stock fell by more than 25 percent in the week after it reported a $13.9 million first quarter lossthat Field blamed on a soft advertising market and its relationship with a struggling broadcast traffic services company.
Field has told investors that he expects some of the synergies from the CBS deal to start paying off soon, and for costs to return to more normal levels while advertising revenue spikes.
Entercom is the second largest U.S. radio company and operates six Philadelphia stations: KYW Newsradio (1060-AM), Today’s 96.5, Classic hits 98.1 (WOGL-FM), Country 92.5 XTU (WXTU-FM), SportsRadio 94 WIP, and conservative talk station 1210 (WPHT-AM).
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