Tag: "Blackstrap Broadcasting"
Beasley Net Revenue Down 2.4% in Q1. Stating that the dip in net revenue comes primarily from “lower advertising revenue at the company’s Miami-Fort Lauderdale and Philadelphia market clusters,” Beasley Broadcast Group announces a Q1 figure down 2.4% on revenue of $24.2 million. But the taxman also bit Beasley as the company reports that a “$0.8 million, or 40.2% year-over-year reduction in first quarter 2014 interest expense related to lower borrowing costs and reduced amounts outstanding, was more than offset by a $1.3 million, or 128.8%, rise in income tax expense primarily due to a change to the company’s federal income tax rate. In addition, the tax rate in the comparable year ago period benefited from a change to the company’s effective state tax rate. As a result, net income and net income per diluted share for the 2014 first quarter of $0.7 million and $0.03, respectively, compared with $2.4 million, and $0.11, respectively, in the comparable year ago period.” Beasley chairman and CEO Geroge Beasley comments, “The first quarter decline in net revenue reflects several factors that primarily impacted our three largest markets, including the severe winter weather which had a negative effect on our operations in the Northeast. Overall, for our five markets that report to Miller Kaplan – which represent approximately 77% of total first quarter revenue – Beasley station cluster revenue declined by 4.3%, while the total revenue for all reporting radio stations in these markets decreased by 0.3% for the quarter. In Philadelphia, our cluster underperformed the market for the first time since mid-2012 as business was significantly impacted by the severe winter weather that pressured billings, particularly among our local customers, and caused our stations to close for the equivalent of approximately three business weeks during the first quarter. In Miami, the first quarter underperformance largely relates to the revenue decline at our AM sports talk station following the departure of a popular afternoon host (Jorge Sedano). On April 1, we addressed this situation directly by re-launching our afternoon drive programming with the addition of another highly rated Miami sports talk show host from a direct competitor in the market (Marc Hochman). Notwithstanding the challenges endured in the first quarter, our ratings and market position in both Philadelphia and Miami remain strong. A final factor which negatively impacted first quarter revenue results was the completion of comprehensive training for our sales team regarding our new digital and NTR initiatives. While this training took our sales teams away from customers for several days, we believe it was essential to drive growth in these areas of our business going forward. Our planned investments in sales and programming and the expansion of our digital offerings, combined with the revenue decline, led to a 12.2% decline in first quarter 2014 SOI compared to year-ago levels.”
Journal Radio Division Revenue Down 4%. While the company as a whole sees revenue climb 3.7% on the strength of TV and retrans, the radio division of Journal Communications was down 4% on revenue of $15.2 million. The company reports that “local advertising revenue, excluding political, decreased 3.2%, primarily due to a decrease in restaurant and financial advertising. Digital revenue, which is reported in local revenue, was $0.6 million, up 7.8%. National advertising revenue, excluding political, decreased 18.0%, primarily due to a decrease in automotive and financial advertising. Total revenue, excluding political revenue, was $15.1 million, down 4.2%. Operating earnings from radio were $2.1 million compared to $2.4 million, a decrease of 11.9%. Radio operating expenses decreased 2.6%, or 0.8% excluding a $0.2 million non-cash building impairment charge recorded in 2013, primarily due to lower programming rights fees.”
Lew Dickey Sounds Pleased with Cumulus Media’s Progress. During yesterday’s investor’s conference call on 2014 first quarter numbers, CEO Lew Dickey explained that Cumulus Media is well-positioned in the broadcast arena but is also heading in the desired direction of broadening its revenue streams and reaching beyond “just the advertiser.” Dickey said, “We’ve now become a very diverse national audio advertising and content platform. Our base is fueled by our strong core broadcast advertising category, anchored by our 460 owned-and-operated stations and again, amplified by now more than 10,000 broadcast radio affiliates throughout the U.S. Moreover, we are developing an emerging growth stream in digital advertising that is gaining real traction to our audio through our Rdio digital audio platform. Licensing also provides the company with a significant second stream of non-advertising-based revenue and should continue to grow nicely as we develop ‘NASH’ and other original content into multimedia brands with multiple revenue streams. Additionally, our content initiatives will provide us with new revenue streams originating from monetizing the consumer, as opposed to just the advertiser, through subscription services.” Thanks to Seeking Alpha for the transcript, members can check out the entire conference call here.
DirecTV Cancels Artie Lange Show. With three months left on his contract with DirecTV, Artie Lange’s radio talk show is canceled. Lange told listeners to his Monday evening (4/28) show that it would be his last for DirecTV. The program was initially co-hosted by both Lange and fellow comic Nick DiPaolo but DiPaolo left the show last year. During his good-bye to listeners and viewers, Lange said DirecTV was very good to him and the parting, though unfortunate, was amicable. The program was simulcast on DirecTV’s Audience channel in addition to being syndicated on the radio.
Barry Farber’s Language Club Celebrates 30 Years. Talk radio legend Barry Farber’s “Language Club” celebrates its 30-year anniversary with a gathering on Monday, May 28, in New York City. Farber, who founded the club, will also be honored at the celebration, that begins at 6:00 pm at My Place Restaurant, 242 East 79th Street in Manhattan. Farber is currently syndicated nationally via CRN Digital Talk Radio. His program airs weeknights at 8:00 p.m. ET. A press release from CRN states, “Farber, who has been on the airwaves since the mid-1950s, nearly failed Latin in 9th grade. Since then, he has studied 28 languages. He created the Language Club so students and speakers of foreign languages could congregate in a pleasant, social environment and enjoy conversing with each other.” He is also the author of several books, including How to Learn Any Language – Quickly, Easily, Inexpensively, Enjoyably and On Your Own. Club members periodically meet for dinner and conversation at ethnic restaurants throughout New York City. Some members give basic language lessons to each other. CRN president and CEO Michael Horn says, “All of us have so much to learn from Barry Farber. Usually, it’s his takes on politics and life. But I hear he also gives good courses in Dutch, Mandarin, and Hebrew.”
Evans Broadcast Company Stations to Observe D-Day Anniversary Live from Normandy. This June 6, news/talk KKFT Reno, “99.1 FM Talk’ and sister country simulcast KCMY and K273AF “Cowboy Country 102.5” will broadcast live from Normandy in France to commemorate the 70th anniversary of D-Day. Evans Broadcast president and CEO Jerry Evans tells TALKERS this year will be the last recognized by the Normandy Veteran’s Association.
Six Receive NY Hall Call. The 2014 New York State Broadcasters Association‘s Hall of Fame class includes capital region/Syracuse broadcaster John Cooper; Syracuse TV reporter Nancy Duffy; WFAN, New York sports talk host Mike Francesa; renowned sportscaster Marty Glickman; Buffalo television manager Chris Musial; and New York City TV journalist Marvin Scott. Cooper has been with Clear Channel since 2000, and is currently regional program manager for the company’s stations in Albany, Poughkeepsie, and Sussex, New Jersey. Duffy received the Syracuse Press Club‘s Lifetime Achievement Award; she passed away in 2006. All-American football player Marty Glickman had brief careers in professional football and basketball. He was the NBA‘s first TV announcer and the first broadcaster for the New York Nets before the ABA – NBA merger. In the 1960s, Glickman was the sports director of WCBS-AM, New York; he is a member of the Curt Gowdy wing of the Basketball Hall of Fame. Glickman – the voice of the NY football Giants for 23 years and the NY Jets for 11 years – was 83 years old when he died in 2001. While Musial was news director and president/general manager of Buffalo’s WIVB-TV, it was the highest-overall rated television station in the country from sign-on to sign-off. WPIX-TV, New York senior correspondent Marvin Scott is the recipient of seven Emmy awards. Before joining WPIX, he held positions as anchor, correspondent, and producer at CNN, Mutual Broadcasting System, and New York City’s WABC-TV. Regarding his selection to the Hall, Francesa comments, “I am humbled and excited to be recognized by the New York State Broadcasters Association; it is a great honor. Anything with ‘New York’ attached to it means all the more to me.” The afternoon drive (1:00 pm – 6:30 pm) talent recently agreed to a long-term contract extension with WFAN. CBS Radio president and chief executive officer Dan Mason states, “Mike has earned his place in radio history as a great broadcaster. We are thrilled to continue our relationship with sports radio’s most celebrated host.” From 1989 to 2008, Francesa co-hosted the “Mike & Mad Dog Show” with Chris “Mad Dog” Russo and has been overseeing “Mike’s On” since 2008. Francesa occupies the #1 position on TALKERS’ 2013 “Heavy Hundred” of Sports Talk Radio. The June 13 induction ceremony will take place during the Association’s summer conference in New York City.
Donald Sterling Case, Tepid Economy Data, John Kerry Israel ‘Apartheid’ Comment, Russian Aggression in Ukraine, and Chicago Gun Violence Epidemic Among Top News/Talk Stories Yesterday (4/29). The lifetime ban and fine levied against Los Angeles Clippers owner Donald Sterling in the wake of his racist comments recorded by a former mistress; weak economic news and the impact on the Obama Administration’s policies; the aftermath of Secretary of State John Kerry’s statement that Israel is in danger of becoming an apartheid state; Vladimir Putin’s continued military aggression in Ukraine; and the huge uptick in gun deaths in Chicago and the call for more gun laws were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.
Bonneville Seattle Re-Tools KIRO-FM Mid-Mornings with ‘The Tom and Curley Show.’ This is John Curley’s third daypart on KIRO-FM, Seattle and this time the station pairs him up with “veteran pop-culture enthusiast” and film critic Tom Tangney (left) for the 9:00 am to 12:00 noon show. Curley (right) – a well-known Seattle media personality – began with KIRO-FM hosting the evening program, then moved to morning drive alongside Linda Thomas for a brief period. The station moved Dave Ross to AM drive leaving Curley out for a period. Now, management says this new show “will bring an energetic insight into the news. The show will keep listeners informed, entertained and connected to the latest news in the region and around the world. The combination of Curley’s enthusiasm and Tangney’s intellect is the perfect mixture for KIRO Radio’s weekday lineup.” Program director Pete Gammell says, “The partnership between John and Tom is electric and we’re excited to offer our audience such a great program to keep them informed and connected to Seattle.” Curley comments, “Tom is the brother-in-law I always wanted to have, a guy I can argue with sometimes and laugh with almost all the time.” And Tangney adds, “I have a blast talking with John Curley three hours a day. I hope and trust listeners will find our show as fun and invigorating as I do.”
Marilu Henner to Speak at Talkers Los Angeles 2013. Accomplished actress and author — and recently syndicated radio talk show host (Sun Broadcast Group) – Marilu Henner, will be joining the stellar roster of more than 50 speakers who will be on the power-packed program at Talkers Los Angeles 2013. Marilu Henner will present an opening greeting titled “Hello Talk Radio” at the start of the event in which she will welcome attendees to the conference and talk about the appeal of the medium and its potential to serve a variety of topics and interests outside the realm of partisan politics. Henner’s new show that deals with health topics and day-to-day lifestyle issues of interest to a broad segment of the public has been drawing critical raves. Conference director Michael Harrison states, “One listen to Marilu Henner makes it clear that she is a bright, confident, media ‘natural’ who will make a difference in this field. Her smart, original and fearless approach to health and well-being issues is enhanced by her extraordinary charisma and all around strong media presence. What a welcome addition to the talk radio community! We are honored to have her play a key role in the morning kick-off of what promises to be a fantastic day!” For sponsorship and other information about the sold-out conference which takes place at the historic Steve Allen Theater in Hollywood on Thursday, October 10, please call 413-565-5413.
CBS Radio Moves Morton To STL as Director of Sales. Sam Morton transfers from Dallas to become director of sales for CBS Radio, St. Louis properties news/talk KMOX, AC KEZK “Fresh 102.5,” and hot AC KYKY “Y98.” He will arrive in St. Louis on October 14, after being general sales manager for CBS Radio, Dallas’ sports talk KRLD-FM, adult hits KJKK “100.3 Jack FM,” and classic hits KLUV. Senior vice president/St. Louis market manager John Sheehan remarks, “I have seen the success Sam has had in a very competitive radio market. His strategic leadership and management experience in Dallas, along with his understanding of CBS Radio business philosophies, will make him a great partner for us in St. Louis.” In addition to his DOS duties, Morton will serve as KMOX’s general sales manager.
MEDIA BROKER SPOTLIGHT: Brett Miller – MCH Enterprises, Inc. In this week’s installment of Media Broker Spotlight, Sandi Bergman of RadioTVDeals.com interviews media broker Brett Miller of MCH Enterprises, Inc. located in Bakersfield, California. Like many of the professional media brokers spotlighted in this feature, Miller is extremely friendly to displaced radio personnel looking to go into ownership for themselves, as well as first-time buyers. He specializes in small market radio and believes that small market radio is the heart and soul of broadcasting and community service. He tells it like it is: “In our little corner of the industry, we are experiencing roughly the same number of buy/sell transactions as when we started; only now the deals are smaller and buyers’ struggles to obtain financing grows bigger. Seller financing is almost a requirement as all-cash deals are becoming harder to find and fewer between. In addition to brokering transactions, our consulting side has grown to include transaction management and FCC support as first-time buyers enter the market, and we are doing more appraisals as banks are experiencing greater scrutiny from their examiners or coping with bankruptcies and liquidations. We see a good number of first-time buyers with solid experience, but with no financing and no ability to collateralize licenses in order to obtain financing (hello, FCC? there’s a hint there), we sense a lot of frustration in the marketplace…not only with prospective buyers, but with sellers. There remains a fairly large gap between buyer and seller expectations. The margins are slim and the multiples are shrinking as the new economic reality sets in. To some degree, what buyers want, they can’t afford and what buyers can afford doesn’t interest sellers. While it frustrates everyone, there are still good opportunities for the right person: someone who knows how the business works, someone who is not afraid to get out on the street and make sales, and someone who wants to become an integral part of the community. In our opinion, it is the power of radio that will ultimately lead the way for the economic recovery of Main Street. To read the entire installment of Media Broker Spotlight, please click here.
CRC Broadcasting Adds FM Signal for Phoenix Money Talker. CRC Broadcasting’s KFNN, Phoenix “Money Radio 1510” now has an FM signal on which its programming is being simulcast. Translator K257CD at 99.3 FM covers the center of the metro. Company founder and president Ron Cohen states, “The addition of an FM channel not only provides listeners with greater access to hear ‘Money Radio,’ but also comes at a strategically pivotal time in Phoenix radio. We’ve built our reputation on providing more useful information than just business news. ‘Money Radio 1510’ talks about money: how to make it, invest it, and how to be smart spenders of it. We will continue to serve the local community with our relevant and informative programming.”
Larry Wilson’s L&L Broadcasting Buys YMF’s Columbia Cluster. YMF Media LLC inks an agreement to sell its Columbia, South Carolina cluster consisting of urban contemporary WWDM “The Big DM 101,” classic rock WMFX “Fox 102,” rock WARQ “Rock 93.5,” hip hop WHXT “Hot 103.9,” adult hits WZMJ “The Lake,” and talk WOIC to L&L Broadcasting. YMF Media was represented by Media Venture Partners in the transaction. The price for the five-station cluster is $13 million.
Michael Harrison to Present Blockbuster Speech at NAB Addressing Key Issues of Both Talk and Music Radio. As a matter of fact, the publisher of talk radio trade TALKERS and music radio trade RadioInfo states that in order for both talk radio and music radio to continue to play an important role in the new digital era – at least within the context of being “AM and FM” radio, and within the broader context of “radio” having certain cultural identifiers that keep it special – is for BOTH to continue to exist in a healthy way side by side. Harrison also believes that music radio and talk radio still have much to share with and learn from each other. Harrison’s speech will be a hard-hitting, non-stop 45-minute “pitching machine” of challenges and solutions facing today’s radio as it braces for the “whitewater ride” of finding its natural home in the digital era, which he says “will inevitably prevail in changing our entire media/cultural landscape within the next decade – at most.” Harrison strongly advises that radio is first and foremost a connection to popular culture and that’s what it should stay in order to remain vital. Among the suggestions Harrison will deliver include his top 10 concepts to keeping radio vital as a pop cultural entity: 10) Celebrate radio’s “radioness” – don’t let it fade; 9) Spread out formatically and stop bunching around a mere handful of viable format options; 8) Be a hero – everyday, and in every way; 7) Strive for localness and here’s why; 6) Take “ownership” of your subject matter and slice of the humanities pie; 5) Eliminate commercial tune outs – commerciality MUST be reinvented ASAP; 4) Maintain an active “skunk works” component to your operation - garages, not corporate boardrooms, are where great new ideas are born and incubated; 3) Learn about intellectual property – it is the foundation upon which we will build most business/talent/management deals in this new era; 2) Integrate radio into the new digital age without being assimilated – the internet is a “ground” not a platform – keeping in mind that in spite of what everyone is saying, content is NOT king, platform is king; and 1) Eliminate debt – radio cannot survive within its current financial paradigm…it is time to put the brakes on consolidation and begin to think about deconsolidation. Harrison states, “As long as every other news story we seem to be writing about in the trades is about a ‘deal’ that will create the ‘largest this or that’ in the industry, we are still headed in the wrong direction and will never make it across Bill Clinton’s metaphorical ‘bridge to the 21st century.’ Radio has always been and will always be a mom-and-pop business. We need fewer CEOs, COOs, presidents and vice presidents – and more mom-and-pops.” Harrison, who will be introduced by consultant Holland Cooke, will be speaking on Thursday, September 19 between 1:30 pm and 2:30 pm in the room Gatlin E2. It is open to all attendees of the NAB Radio Show. For information call 413-565-5413.
Arbitron Brings NextMedia Aboard for Diary Ratings in Three Markets. NextMedia signs a multi-year deal with Arbitron to subscribe to the company’s diary ratings service for its stations in Canton, Ohio; Greenville-New Bern-Jacksonville, North Carolina; and Myrtle Beach, South Carolina. NextMedia also re-ups its PPM contract for Chicago and San Jose. NextMedia president and CEO Jim Donahoe states, “Radio continues to be a vibrant medium that reaches consumers at a very local level. Subscribing to Arbitron’s radio ratings services gives NextMedia the opportunity to demonstrate radio’s continued strength to our current and potential advertisers.”
Saga Communications Revises Projected Revenue. The third quarter of 2013 doesn’t end until September 30 but Saga Communications is issuing a statement in which it “anticipates gross revenues for the third quarter ending September 30, 2013 to be flat to up 2.0% in comparison to the corresponding period last year.”
Midwest Communications Inks Regional Reps for Six Markets. Independent sales rep firm Regional Reps Corp. is contracted by Midwest Communications to be the exclusive national sales rep firm for its stations in the following markets: Duluth; Hibbing, Minnesota; Holland, Michigan; Lansing; Sioux Falls; and Terre Haute. The Midwest stations in Sheboygan, Wisconsin have been represented by Regional Reps since 2007. Midwest CEO Duke Wright states, “We’re very excited about working with Regional Reps in a number of our markets. Regional Reps has demonstrated to us that they are innovative, produce results for the stations they represent and take the initiative in developing new revenue streams for their clients.”
Odds & Sods. Fox News Radio brings Tonya Powers aboard to serve as a national correspondent based in the New York headquarters. In her new role, Powers will report on breaking news and provide daily live reports covering stories in the Northeast and across the country. Prior to joining FNR, Powers was a news director and morning show anchor at Clear Channel’s news/talk WREC, Memphis “Newsradio 600.”…..Blackstrap Broadcasting’s WUFC, Boston changes sports network affiliations and leaves NBC Sports Radio and is re-branding as “Yahoo! Sports Radio 1510.” This move comes after station general manager and midday host Anthony Pepe becomes part of the Yahoo! lineup.
Navy Yard Slayings, U.S. Syria Policy, Iran’s Threats to the U.S., Quest for New Fed Chief, and Colorado Floods Among Top News/Talk Stories Yesterday (9/16). The killings at the Navy Yard in Washington; the ongoing debate over the United States’ policy regarding Syria’s civil unrest; threats by Iran against the United States and its allies; the process of determining who will be the next Fed chief; and the deaths and destruction from the floods in Colorado were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.