Staff at five Irish radio stations owned by Onic have been told a consultation process is under way that could result in job losses.<\/p>\n
Directors at Dublin’s FM104 and Q102, Limerick’s Live 95, Cork’s 96FM and LMFM will be leaving the business in the next few weeks.<\/p>\n
Staff were told about the review at a meeting today.<\/p>\n
An Onic spokesperson said: “While the landscape remains challenging for all media businesses, we remain focused on evolving Onic to ensure our long-term success, leaning on digital transformation, operational efficiency, and a proven track record of delivering great content to our loyal listeners.”<\/p>\n
RT\u00c9 News understands that Onic is looking at having a more centralised business operation with no individual station directors.<\/p>\n
In May, accounts filed by the Rupert Murdoch-owned Onic Audio showed that earnings declined by 19% to \u20ac2.2m due to reduced revenues and increased costs.<\/p>\n
Earnings before interest, tax, depreciation and amortisation reduced from \u20ac2.73m to \u20ac2.2m in the 12 months to last June.<\/p>\n
This followed revenues dipping marginally from \u20ac23.37m to \u20ac23m as the group’s cost base rose from \u20ac26.12m to \u20ac26.66m.<\/p>\n","protected":false},"excerpt":{"rendered":"Staff at five Irish radio stations owned by Onic have been told a consultation process is under way…\n","protected":false},"author":2,"featured_media":698179,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[64,63,134,136],"class_list":["post-698178","post","type-post","status-publish","format-standard","has-post-thumbnail","category-music","tag-au","tag-australia","tag-entertainment","tag-music"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/698178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=698178"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/698178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/698179"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=698178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=698178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=698178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}