Internal Vista memo says ‘ongoing decline in revenues’ behind executive sweep

An internal Vista Radio memo, obtained by Broadcast Dialogue, suggests an inability “to stabilize an ongoing decline in revenues and resultant profitability” was behind the firing of four company executives on Friday.

Company president Geoff Poulton, who had been at the helm of Vista since 2013; Murray Brookshaw, vice-president of Content; Christine Swain, Human Resources Manager; and Ddin Morbi, VP of Revenue & Operations were part of Friday’s executive sweep.

Bryan Edwards, one of the radio group’s original founders, will take on the role of acting company president.

In a Sept. 6 memo to Vista employees, Brad Erickson, the Chair of the Board of Directors, stated that while there have been many positive changes at Vista over the last six years, there were ongoing challenges faced by the group.

“The Board of Directors has been very supportive during this time, allowing management the time to adjust the business model as they saw fit. Unfortunately, the results have not been as forthcoming as hoped, so the Board has decided it is now time for a change in direction,” Erickson wrote.

“Over the next month Bryan will be focused on putting together a short-term strategy for the Group and will communicate this to you once approved by the Board. For the most part, the strategy will be business as usual and will not impact a great many of you.  I appreciate your efforts to stay focused during what could otherwise be an unsettled time,” he continued.

Erickson declined comment on the management changes when contacted by Broadcast Dialogue on Friday.

Vista owns 43 radio stations and 35 digital news portals across B.C., Alberta, Ontario and the Northwest Territories.

 


Subscribe Now – Free!

Broadcast Dialogue has been required reading in the Canadian broadcast media for 25 years. When you subscribe, you join a community of connected professionals from media and broadcast related sectors from across the country.

The Weekly Briefing from Broadcast Dialogue is delivered exclusively to subscribers by email every Thursday. It’s your link to critical industry news, timely people moves, and excellent career advancement opportunities.

Let’s get started right now.