#HELLOTOM! Tom Leykis reports higher profits than either i<3 or Cumeless for 2014.

An article in Talkers Magazine today has Tom Leykis’ tongue in cheek while reporting bigger net profits. Read the entertaining article verbatim, below:

leykistomnonameTom Leykis’ The New Normal Reports 2014 Profit. It’s been three years since Tom Leykis – free from the confines of his old contract with CBS RADIO – debuted his own internet talk program via a digital platform operating within his company The New Normal LLC. Leykis says that his gross revenue for 2014 was $524,952, an increase of 60% over 2013’s gross, and a net profit of $2,187. He goes on to say that this profit “will most likely exceed the combined net profits of the radio industry’s two largest companies (representing 1,310 or 11% of all US commercial radio stations).” Pointing to the balance sheets of large radio operators iHeartMedia and Cumulus Media, Leykis says “iHeartMedia has not earned a net profit since at least 2008 according to its own 10K report. Despite recent claims of ‘accelerated growth,’ iHeart’s best showing since 2008 was the second quarter of 2010 when it showed a net of negative $204.2 million…Cumulus Media, which is number two to iHeartMedia in stations owned, has shown a slight profit in 2014, with earnings per share for 2014 so far reported at $0.04 per share and net revenue of $159.34 million as of the third quarter of 2014.” TALKERS editors note that while profits are certainly a challenge for companies with large debt service, it can be argued that the two companies mentioned (and the others not) employ thousands of people, support workers’ families and in turn contribute to the economy in a bigger way than a small company that actually earns a profit. Still, Leykis says his point is that it doesn’t take big corporate backing to produce a successful media venture. “In the end, this news doesn’t exactly make my day. I made a fantastic living in the radio business and I still have many friends in the industry who are afraid of what the future holds. I could have retired young and lived comfortably forever. This project is to show radio folks that there’s a future for them if they’re willing to work hard.”

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