Friday Send Off . . .

*** Editor’s Note:  The Daily Gabe staff of one will be taking some time off next week to celebrate Turkey Day.  We’ll resume the blogging on November 27th. ***

ENTERCOM/CBS RADIO DEAL TO CLOSE TODAY:  After a year in the making the day is finally here.  Later this morning Entercom will complete its acquisition of CBS Radio, creating the third largest radio broadcaster in the US.  The combined entity, still to be called Entercom, will generate $1.7B in revenue across 241 stations.  The deal is structured in a way that CBS will still keep an equity position in Entercom equal to the current value of its stations.  This is important because it means Entercom didn’t need to borrow money for the acquisition. This sets Entercom on a much healthier path than the debt-ladened iHeart and Cumulus.  Radio Ink has a solid summary of the transaction in the attached link, along with a look back at Entercom’s history.  As much of a radio skeptic as I am, this merger is probably good for the overall radio industry.

MASHABLE’S FIRE SALE:  Yesterday news broke that tech, gaming and healthcare publisher Ziff Davis has reached a deal to purchase Mashable for $50M, as reported in the attached WSJ article.  The sting in this news is that Mashable’s valuation was pegged at $250M just one year ago during its most recent round of funding.  But since then Mashable’s ad revenue has declined and its cash was beginning to dry up.  It sort of feels like a take-whatever-you-can-get-now move. This could also be a canary in the coal mine moment for all of the second tier publishers in digital media.  As user traffic and revenue gets concentrated at the top of the industry mid-to-small niche players are starting to get squeezed out.  My prediction is that Mashable may be the first of several smaller players to either sell out or die off.

TIME TO “ELIMINATE THE GOOD”:  Finally this week I’d like to leave you with some weekend inspiration.  This insight comes from a gentlemen named Mike Flint, who is Warren Buffett’s personal pilot.  As detailed in the attached Inc.com article, one of the most important moments in Mr. Flint’s career was the time Warren Buffett helped him with a goal setting exercise.  It started like something you may have tried in your career – write down your top 25 career goals and then circle your top five priorities.  After looking at this list Mr. Flint assumed the same thing we all would . . . focus on the top five and then work on 6-25 intermittently when you have the time.  But he assumed wrong.  Instead of passively working the secondary goals Warren Buffett said those needed to be his “Avoid-At-All-Costs” list.  The wisdom goes something like this.  You can only achieve greatness on your most important goals if you completely ignore things that are just good.  So by avoiding spending time/energy on the secondary goals which can make you good, you have no choice but to devote all of your focus on the few things which will make you great.  It’s the personal version of the “pick one thing and do it better than anyone else” business adage.  I think this is fantastic advice from the “Oracle of Omaha” that already has me doing some soul searching.  Could this advice work for you too?

Have a great Friday and Thanksgiving holiday.  See you on November 27th!

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