A host of top radio DJs are reportedly in the firing line at Global Radio after the company warned employees to expect job losses.
Global is the UK's biggest commercial radio group and has stations including LBC, Capital, Heart, Classic FM and Radio X in its portfolio, attracting around 25 million weekly listeners across the network.
According to The Sun, Global is being forced to make significant cost cuts following a drop in advertising revenue and the company's decision to acquire two billboard advertising firms for a combined £220 million.
The newspaper says that top talent such as Chris Moyles, Johnny Vaughan and Jamie Theakston are facing uncertain futures as a result, with not all of the DJs having yet been assured that their jobs are safe.
"Everyone's worried, from the top down," said a company source. "All staff have been told they are at risk and that includes all the big stars on the big bucks.
"Ad revenue is down and also there's no money coming in from the billboard firms that cost so much cash to buy in 2018.
"There's a lot of money going out in wages and not so much coming through the doors in revenue. It's simple economics."
Staff will reportedly find out next month whether their jobs are safe or not.
Neil Wilkes
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