We may soon find a blissful silence filling the nation as hateful extremist Rush Limbaugh stares down the end of his contract with radio conglomerate IHeartRadio with very small chance of his floundering show being renewed.
In the summer of 2008, Limbaugh signed a massive deal with what was then-called Clear Channel Communications. With a staggering $100 million signing bonus, Limbaugh was set up for the eight years in a massive $400 million deal.
Unfortunately for Limbaugh and IHeartRadio, the stock for the hosting company has dropped from the 2008 rate of $39 dollars a share to a dismal $1.15. Many blame Limbaugh whose fringe rants have given other advertisers and personalities on the stations a bad name.
Then there is the issue of Limbaugh’s audience which has turned from targets of advertisers to aging, cantankerous listeners. As faithful Limbaugh listeners die off, his audience shrinks and fails to gain any new followers. Limbaugh himself is 65 and many believe that his appeal as a voice in modern political commentary has all but dried up.
IHeartRadio has not shown a profit since 2007, and that long drought is no doubt been made more difficult with the gigantic price tag of Limbaugh’s show. The company has already been cutting other assets, so there is no chance that they will pay to keep a dying show with a dying host on the air.
Of course, radio is an always struggling market, particularly in competition with online music streaming and the rise in popularity of podcasts which are most often streamed online. This is no doubt where Limbaugh will head next if he can find enough funding to get his grating voice back on the airwaves.
