Raycom Boss Stays Positive Amidst Broadcast Doldrums
It’s a busy summer for Raycom CEO Paul McTear. Raycom announced it was dealing WTVR Richmond to Sinclair for $85 million earlier this week, and Raycom expects to have the three stations it acquired this spring from Lincoln Financial (WWBT Richmond, WBTV Charlotte and WCSC Charleston) assimilated into the broadcaster’s internal network in the next two months.
McTear admits ‘08 is is hardly shaping up to be the banner year that many expected it to be–"this is the year you dig your fingernails in," he says. But he does see a positive second half of the year. "The bumps are happening," he says. "The Olympics still will be strong, and political will be strong.
Unlike the publicly-owned station groups, McTear says he isn’t feeling quite the same pressure to produce short-term results. With national advertising ailing, he’s looking to other sources of revenue. "We’re fighting like crazy to mitigate some of that," McTear says, "with strong local business and strong Web business."