Tuesday, November 12, 2019

| November 12, 2019

Cumulus Media Q3 Net Revenue Dips Slightly; Up on Same Station Basis. The third quarter financial report for Cumulus Media Inc. shows net revenue was $280.8 million, a decrease of 0.5% over the same period in 2018.  Adjusted EBITDA decreased 5.5%.  However, on a Same Station basis, net revenue was up 3.9% (excluding political).  Cumulus president and CEO Mary Berner says, “In the third quarter, the Company turned in another strong performance with same station revenue and Adjusted EBITDA growth of 3.9% and 2.2%, respectively, on an ex-political basis.  Our operating plan has continued to deliver industry-leading digital revenue growth and continuing growth in our national and network channels.  We also made great progress in the quarter on our balance sheet as our free cash flow generation allowed us to fund a voluntary debt prepayment of approximately $29 million, which reduced net leverage to 4.5x.  Additionally, we completed a $525 million term loan refinancing that extended our debt maturity and reduced future interest expense.”  Breaking down the company’s report a little bit shows spot revenue for the third quarter of 2019 was $161 million, down 4.4% compared to the same period in 2018.  Network revenue was $78.4 million – up 3.6% over the same period a year ago.  Looking at digital revenue, Cumulus tallied almost $20 million, an increase of more than 48%.

Key Networks Offers O’Reilly Thanksgiving Weekend Special Interview with President Trump.  A one-hour, Thanksgiving week special is being made available to affiliates of Key Networks’ “The O’Reilly Update”, hosted by Bill O’ Reilly.  The program is an exclusive one-on-one interview with President Donald Trump that Key Networks says will provide listeners with insights from the president on the latest issues impacting the country as 2020 quickly approaches.  It comes on the heels of the release of O’Reilly’s new book, The United States of Trump: How the President Really Sees America (2019, Henry Holt and Co.).  O’Reilly’s 15-minute daily radio program, “The O’Reilly Update,” is currently syndicated to nearly 200 radio stations across the U.S.  This special is the first in a series of specials and exclusive content to be created especially for affiliates of “The O’Reilly Update” throughout the 2020 election season.  The program can air beginning Wednesday, November 27 and throughout Thanksgiving weekend.  Key Networks chief revenue officer Dennis Green says, “Key Networks is honored to provide Bill O’Reilly’s one-on-one interview with President Trump to stations around the country.  The affiliates of ‘The O’Reilly Update’ continue to get the best news and commentary for their listeners and access to O’Reilly’s no-spin analysis.  If your station wants to win in 2020, they need to make O’Reilly a part of their lineup!”

TALKERS News Notes. Holiday programming for the Thanksgiving weekend is available from FOX News Radio.  FNR is providing to affiliates two, one-hour specials, available for download on the affiliate website on Friday, November 22.  The shows are: “The Dean’s List Thanksgiving Special” with FOX’s senior meteorologist and Mostly Sunny author Janice Dean, in which she shares stories of ordinary people taking time to be kind spreading sunshine to others; and “The Campaign” with host Bret Baier, in which he discusses the state of the democratic presidential race, highlights the candidates who are making headlines, and debates with a selection of political guests, who will ultimately rise to challenge President Trump for the presidency next November…..Tomorrow (11/13), ABC News Radio begins providing extensive coverage of the impeachment inquiry hearings with live, anchored by correspondent Aaron Katersky in Washington with reporting by multi-platform reporter Ines de La Cuetara at the Capitol.  It will also provide four one-minute Status Reports each hour.  Also, tomorrow ABC News Radio will debut a new feature called “Impeachment in a Minute,” hosted by correspondent Kyra Phillips.  Finally, on Wednesday evening Katersky will anchor an hour-long special at 7:06 pm ET looking back at the first day of public hearings…..Similarly, CBS News Radio is covering the impeachment inquiry hearings.  CBS will provide gavel-to-gavel coverage on Wednesday, beginning at 10:00 am with correspondents Bill Rehkopf, Steve Dorsey, and Steven Portnoy from the Hill.  Also, CBS will provide coverage of the TrumpErdogan presidential news conference beginning at 3:10 pm…..Yesterday (11/11), WABC, New York midday hosts Bernard McGuirk (right) and Sid Rosenberg (left) are pictured below, broadcasting live from 27th Street and 5thAvenue on the route of the Veterans Day Parade in New York City.

SiriusXM’s Karen Hunter Hosts Race Discussion Before Town Hall Audience. Talk show host, journalist, and college professor Karen Hunter recently presented a town hall discussion at SiriusXM’s New York studios before a live audience.  Hunter hosts the 3:00 pm to 6:00 pm show on SiriusXM’s Urban View channel.  The program centered on race in America, including the wealth gap between African Americans and Caucasians, The New York Times’ 1619 Project, a powerful initiative that explores the 400th anniversary of the beginning of American slavery and its ongoing impact on our society.  Pictured above are (from l-r): Hunter, New York Times journalist Nikole Hannah-Jones, MSNBC Correspondent Trymaine Lee, and OneUnited Bank president Teri Williams. Photo: Maro Hagopian for SiriusXM

Nominees Announced for 2020 iHeartRadio Podcast Awards. The second annual iHeartRadio Podcast Awards will take place at the iHeartRadio Theater Los Angeles on Friday, January 17 at 8:00 pm PT.  The iHeartMedia event will honor the most entertaining and innovative podcasts of 2019 and will span 30 categories, celebrating the incredible talent and wide variety of leaders across the booming podcasting industry.  Podcasts nominated for Best Podcast of the Year include: “The Daily,” “The Joe Rogan Experience,” “Stuff You Should Know,” “My Favorite Murder,” “Conan O’Brien Needs A Friend,” “Revisionist History,” “The Ron Burgundy Podcast,” “The Dropout,” “The Shrink Next Door,” and “The Read.”  See all the nominations in all the categories here.

Impeachment Process/Ukraine Affair, 2020 Presidential Race/Biden on CNN Town Hall, DACA Before SCOTUS, Cold and Snow Hit Northern U.S., and Hong Kong Violence Among Top News/Talk Stories Yesterday (11/11). The impeachment process against President Trump and the investigation into the Ukraine affair; the Democrats vying to challenge President Trump in the 2020 election and Joe Biden’s appearance on CNN’s “Town Hall” on Monday evening; the Supreme Court’s hearing of arguments in the case of the Trump administration’s desire to end the Deferred Action for Childhood Arrivals act; the cold and snow affecting much of the northern U.S. this week and the related issue of climate change; and the ongoing violence in Hong Kong were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Music Radio News and Career Moves. The morning drive team of Roula Christie, Ryan Chase, Eric Rowe, and Kevin England – “The Roula and Ryan Show” – at Cumulus Media’s CHR KRBE-FM, Houston inks a multi-year agreement to continue its role there.   Station PD Leslie Whittle comments, “Each day our listeners wake up to laughter, will learn something, and could shed a tear or two, but one thing you can count on is that Roula, Ryan, Eric and Special K are never boring.  They have experienced many personal milestones the past 13 years, which I’ve been proud to witness.  ‘The Roula and Ryan Show’ has also celebrated our beloved city’s accomplishments and milestones and has gotten Houston through some tragedies as well.  I’m honored to be able to work with this great team for another five years!”…..Premiere Networks-syndicated personalities Charlamagne Tha God, Delilah, and Elvis Duran appeared together on the Dr. Oz TV show (pictured at left) on Friday (11/8) to discuss their use of their national platforms to change the conversation surrounding mental health.  The radio hosts shared their personal stories and tips for handling challenging mental health issues, including dealing with social media; finding self-love within, not online; and why it’s important to discuss difficult subjects like depression, anxiety, and suicide…..The Premiere Networks syndicated “Steve Harvey Morning Show” is giving away thousands of turkeys as part of the show’s Annual Turkey Give.  Affiliates of the show will provide 8,000 turkeys to help those less fortunate celebrate the Thanksgiving holiday.  Since the Turkey Give was launched in 2009, nearly 80,000 turkeys have been given to those in need.  Harvey recently told his listeners, “We consider it an honor and a privilege to help those who are less fortunate during the holiday season.  On behalf of the entire Steve Harvey Morning Show, Happy Thanksgiving and God bless you all.”…..TALKERS sends condolences to the family and friends of Emmons “Skip” Woolwine, a founding member of the Tennessee Radio Hall of Fame, who passed away on November 7 from a heart-related illness.  The TRHoF says, “He was passionate about our group and even though he wasn’t a board member, he continually mentored those of us who are on the board.  He was always willing to help, to lend advice and just offer friendship.”

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Category: Front Page News, Industry News