SOLD means Opportunity, not Panic!

 

Cox Media Group announced it's selling 14 TV stations. Last June, Raycom Media announced a sale to Gray Television.  So what happens to you if you work at a station on the market? Opportunity happens!

 

First, no need to panic.  I believe you can look at this an opportunity and let's face it, you're tired of the rumors anyway.  Let's get on with it! One of four things are possible for you and you should be thinking and working all four scenarios .......

 

1. New Co. needs you, or at least some of you.  They are buying a business to make money and that takes people.  Only changes are the culture and name on the paycheck. For the mission critical staff there might even be a retention bonus if you stay through the sale.  You are part of the transaction and the new company is buying YOU as well.  

 

2. Your current employer needs you, just at another location.  You transfer and potentially relo internally before or at time of sale.  This is not likely when the org is divesting of the entire business unless you are in administrative functions like accounting, HR, or IT.

 

3. You jump ship to another station in-market or beyond depending on your agreement (sorry, Cox & Raycom contracts I've seen are assignable).  Your agreement and the non-compete, non-disclosure, and non-solicit language will remain in place.  

 

4. You take this as an opportunity to break from industry.  Listen, the fact that these companies (+ Tribune / Sinclair) are being divested, and recent Napoli Management Group & 3 Kings Entertainment sales to Blue Equity should be a wake up call.  The broadcast TV news business will ultimately be going the way of the newspaper business and now might be a terrific opportunity.  

 

Summary, no need to panic, just time to get polished / packaged to turn this change into incredible opportunity for you!

 

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