“People today are being entertained different, and that’s a problem for radio. (By the) time a profit is made, satellite radio will be eclipsed by something more profound. Namely, Internet-based radio stations available nationwide thanks to wireless broadband technology. Radio is going to be interactive, and it’s not going to be delivered just by transmitters. The next thing is not satellite, which is another form of point-to-multipoint technology. It will be interactive, two-way communication that’s available to everybody that is the next big thing. Radio companies will have no more defense in defending their business than the railroads did when airplanes came in and took their freight business.”

— Randy Michaels, former Clear Channel Radio CEO, on the future of radio