Posted by madcityradio.com on January 06, 2009 at 07:21:23:
Sovereign City is suddenly D.O.A.
Syndicator Sovereign City shuts down for good.
The stunned employees in Green Bay heard the news in a meeting led by Mark Follett's attorney, just after lunchtime yesterday - the venture has run out of money, and they're dousing the lights, immediately. Follett launched Sovereign City Communications in 2007 to do radio that fostered positive values, and the syndication premiered in 2008 with the evening "Wendy in Your Oasis", featuring Wendy Templeton. From there, they added more dayparts, more employees - and just a couple of weeks ago, a 24/7 format. At a guess, Sovereign City had 40 or more employees - a big number for a startup, though they were relying on the company's long-term horizon and Follett's bankroll. To date, they'd attracted a limited number of affiliates. Will there be more of this in 2009? One observer says yes - "It's just January 5, and we've already got the first casualty of 2009."
(Radio Info)