Tuesday, November 8, 2016

| November 8, 2016

Salem Third Quarter Net Broadcast Revenue Up 3.2%.  Chief executive officer Edward Atsinger said on the Q3 conference call that Salem Media Group’s total revenue was up 5.6% but expenses were up 7.3%, “resulting in a 1.5% decrease in adjusted EBITDA.”  Atsinger said the expenses increase was almost entirely the result of salemmediagroup-logoincreased health care costs.  Back to the numbers, in the Broadcast segment, net broadcast revenue was $51.1 million, an increase of 3,2% over the same period a year ago.  However, station operating income decreased by 2.1%.  Atsinger reported that although they booked $1 million of broadcast political revenue during the quarter, that was down about 20% from the same period during the 2012 campaign.  However, Atsinger adds, “Network revenue was up 29.2% for the quarter.  Obviously, this extraordinary political year is a major driver in this revenue growth, and our nationally syndicated hosts have significantly increased their profile beyond the exposure of their own radio programs, which has resulted in an increased time spent listening to their shows and better response for advertisers, all of which has led to higher renewals, higher rates of renewals, and additional advertising clients.”

Townsquare Media Net Revenue Flat in Q3.  On a pro forma basis, Townsquare Media’s Local Marketing Solutions segment – the one that includes broadcast and digital – saw net revenue increase 3.8% over the same period a year ago.  It was the Entertainment segment – live events – that had a tough quarter and drew the company down to a net revenue decrease of 0.8%.  Townsquare Media chairman and CEO Steven Price says, “On a protownsquaremedia forma basis, our Local Marketing Solutions segment continued its positive momentum by delivering another quarter of solid growth, with net revenue increasing approximately 4% over the prior year period.  These results were offset by a decline in our Entertainment segment due primarily to exceptionally poor weather at four of our largest fairs.  Excluding those fairs, Townsquare’s pro forma net revenue and Adjusted EBITDA increased approximately 2% and 3%, respectively.”  For the first nine months of the year, Townsquare’s (pro forma) net revenue is up 2.2% and the Local Marketing Solutions segment is up 5.1%.

sagaSaga Communications Q3 Net Revenue Rises 6.8%.   Reporting financial data for the third quarter of 2016, Saga Communications’ net revenue was $36.1 million – an increase of 6.8% over the same period a year ago.  Breaking the radio segment out from the television segment, radio’s net revenue was $29.8 million – an increase of 4.6% over 2015’s third quarter.  For the year so far, Saga’s net revenue is $105.3 million – up 8.3% over the first nine months of 2015.

WABC, New York Officially Names Sid Rosenberg Imus Sports Anchor.  A press release from Cumulus Media’s WABC, New York officially announces that Sid Rosenberg is returning to the “Imus in the Morning”rosenberg show to serve as sports anchor, however the presser makes no mention of Warner Wolf, who exited the show suddenly on Friday (11/4).   WABC program director Craig Schwalb comments, “Sid’s triumphant return to ‘Imus In The Morning’ has reunited him with an incredibly gifted cast.  Their collective chemistry is exceptional.”  Rosenberg adds, “I’m really excited to be back with Imus and the guys in the same role where it all started for me nearly 17 years ago.”  Rosenberg will continue to co-host the late morning show with now-fellow Imus cast member Bernard McGuirk.

NAB to Sue FCC Over Quadrennial Review.  This suit must be filed by Monday and that is presumably what the National Association of Broadcasters will do as EVP of media relations Dennis Wharton says it’s nab-logodifficult to believe the Federal Communications Commission could recommend (on a 3-2 party line vote) going forward with decades-old policy when technology isfccnew moving the industry ahead at the speed of light.  The cross-ownership rules seem particularly out of date considering what’s been going on in other sectors of the media, says Wharton, who tells Broadcasting and Cable, “Broadcasters want to compete in the digital age and continue being a trusted source for local news and information, but FCC rules need to reflect 2016 and not the 1960s.  It defies belief that the FCC allows AT&T/DirecTV and Charter/Time Warner mergers while barring two Topeka TV stations from combining, or a radio station from buying a newspaper.”

Today’s Presidential Election; the U.S. House and Senate Races; Voter Fraud and Poll Hacking Concerns; UVA Administrator Awarded $3 Million in Rolling Stone Rape Story Case; Hillary Clinton’s Emails Troubles; and NFL Action Among Top News/Talk Stories Yesterday (11/7).  The presidential race between Donald Trump and Hillary Clinton; the down-ticket races for U.S. House and Senate seats; concerns over voter fraud and the possibility of hacking the electronic polls; a jury awards a University of Virginia administrator $3 million in her case against Rolling Stone and the author of a discredited story about a gang rape at the school; the private email server case surrounding Hillary Clinton’s campaign; and the weekend’s NFL Action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Ginny Morris to Chair RAB Board of Directors.  The Radio Advertising Bureau announces the new slate of officers recently to its board of directors and new, incoming directors.  Chairperson and CEO of Hubbard Radio Ginny Morris is elected chair of the RAB board of directors.  Cox Media Group RVP Susan Larkin ismorrisginny the vice chair.  The finance chair is Steve Newberry, president and CEO of Commonwealth rabBroadcasting.  The secretary is Mike Hulvey, COO, Neuhoff Communications, and immediate past chair is Hartley Adkins, president, Northeast Division & Corporate Operations, iHeartMedia.  Newly elected directors are: Brian Beasley, EVP, chief operating officer, Beasley Media Group; Jonathan Brewster, CEO/president, Cherry Creek Radio LLC; Mike Tarter, president/CEO, Forcht Broadcasting; and Sabina Widmann, VP, general manager/director of sales, radio, Univision Radio.  RAB president and CEO Erica Farber says, “We are excited to have Ginny Morris at the helm of the RAB board of directors.  With Ginny’s tremendous experience and passion for this industry, the organization is well-positioned to continue to lead and advocate for radio.”

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Category: Front Page News, Industry News