Jim Boyle, one of Wall Street’s more thoughtful analysts who earned a reputation for bulldogging answers out of media chiefs reluctant to discuss bad news, was let go by his Madison Avenue firm, C.L. King & Associates. Boyle joins the ranks of a slew of other analysts covering the media business.
“As of this week, I am no longer an analyst at CL King & Assocs. due to headcount reductions during these tough times and tough market circumstances,” Boyle said in an email. “It is my plan to explore other Street or Industry situations, on both a full-time and/or consulting/project basis in the new year.”
Boyle has long-been the analyst that shakes the timbers of management. A second-generation radio professional – his father is veteran radio station owner/operator and broker Frank Boyle – Boyle is known for his eloquent ability to be both polite and persistent in pressing a CEO about corporate costs and expenditures during earnings calls.
There have been numerous times that a stammering executive has quickly offered Boyle a chance to get the information sought in an “off-line conversation” after the more public conference call. Boyle’s summations of the conference calls and earnings reports afterward have always been packed with thoughtful, insightful and useful information for investors not necessarily dished out by the company in its original public statement.
Earlier on Tuesday, Boyle said he expected the radio industry next year to be down 9 percent across the board in what he describes as “an intriguing 2009 ahead of us all!”