Tag: "CBS Corporation"

Thursday, February 16, 2017

| February 16, 2017

CBS Reports Q4 2016 and Full-Year Financials; CBS Presented as Discontinued Operation.  The latter is due to the pending merger of CBS Radio with Entercom and it means that CBS did not present any revenue information or operating income metrics for the radio division.  Here’s what the company has to say about the Entercom deal: “In connection with the transaction, which is expected to be tax-free to CBS Corporation and its stockholders, the Company intends to split-off CBS Radio through an exchange offer immediately prior to the merger.  The merger will create a well-capitalized company with a market cap in excess of $2 billion, a strong balance sheet, significant free cash flow, and the ability to pay an attractive dividend.  The combined company is expected to generate meaningful cost synergies within 12-18 months after the merger.  The Company expects to complete the transaction in the second half of 2017, subject to customary closing conditions.”  In a press statement, CBS Corporation chairman and CEO Les Moonves states, “2016 was a phenomenal year for the CBS Corporation, with all-time highs in revenue, operating income, and EPS [earnings per share] that came in above $4 for the first time in our Company’s history; and as we begin 2017, I couldn’t be more excited about our growth prospects in the years ahead.”  During yesterday’s investor conference call, COO Joseph Ianniello addressed the radio deal, saying, “CBS shareholders who participate in this split-off will own 72% of the combined company which will have best-in-class assets and will clearly be the best capitalized radio company in the industry.  The combined radio business will benefit from increased scale, stronger cash flow and real operational synergies which should drive higher profitability.  The new company will also have the ability to pay an attractive dividend.”

Cumulus Extends Early Tender Date for Note Exchange.  This is the third extension of Cumulus Media Inc’s offer for its previously announced private exchange offer for 7.75% Senior Notes due 2019 issued by Cumulus Media Holdings Inc.  Obviously not satisfied with the number of takers, the company is extending the early tender date to March 6 (5:00 pm ET).  The company explains that “Eligible Holders tendering their Outstanding Notes prior to the Early Tender Date, as extended that are accepted for exchange, will receive the ‘Total Exchange Consideration.’”  That exchange includes “revolving loans, the participation interests, the trust certificates and the shares of Class A common stock (or warrants, if applicable), Class D common stock and Class E common stock.”

TALKERS Editorial Board Tackling Freedom of Speech Award Decision.  The TALKERS magazine editorial board has begun the sensitive and often-controversial task of deciding its annual roster of major award recipients in the categories of “Lifetime Achievement,” “Woman of the Year,”  “Humanitarian of the Year,” and “Freedom of Speech” – the latter being the most potentially contentious of all – especially in today’s highly charged, politically polarized news/talk environment.  In his weekly address to the editors, TALKERS publisher Michael Harrison stated, “This award is always a sensitive issue because freedom of speech is one of the most difficult concepts to explain and the award is doubly difficult to defend – especially when a significant percentage of people immediately assume that the organization presenting the honor necessarily endorses the political position of the recipient.”  Harrison continued, “TALKERS has a distinguished history of non-partisanship in its editorial coverage of political news/talk media and this has been reflected in the diversity of positions held by the recipients of this prestigious award over the decades.  The award is not a reward for saying something ‘controversial’ with which we necessarily agree but, rather, for conducting oneself as a broadcaster in a manner that clearly displays the tenets of the First Amendment in action, as well as showing the courage of one’s convictions in facing the negative blowback and consequences of one’s public stance.”  Harrison cited Premiere NetworksSean Hannity, Salem Radio Network’s Michael Medved and former WTMJ, Milwaukee host Charlie Sykes among worthy candidates to be considered for this year’s honor, stating, “Hannity showed amazing courage coming out early and unswervingly for Donald Trump when it was not clear which way his core audience would swing and what the outcome of the primary and general election would be.  Medved, also a conservative, came out early against Trump and then stuck to his guns as an objective observer of the candidate and now-president’s pros and cons as he sees them – even against negative criticism from his listeners and even members of his own syndication company.  Sykes actually let his cool job in Milwaukee slide away rather than back down from his perception of the truth.”  Harrison concluded, “And there are many more examples of news/talk hosts having to take a principled stand with uncertain consequences as a result of this turbulent but exciting chapter of talk radio history in the making.”   The TALKERS awards will be presented on Friday, June 2 at Talkers 2017: A New Era in New York City.  For information about the 20th annual installment of the talk industry’s longest running and most important national convention, please click here.

TALKERS News Notes.  Beginning with this year’s 2017 NFL season, Washington Redskins football play-by-play (including some pre- and post-game programming) will be heard on Cumulus Media’s WMAL-AM/FM, Washington.  The games will continue to air on Red Zebra properties WTEM, Washington “ESPN980”; WWXT, Prince Frederick, Maryland; and WWXX, Buckland, Virginia.  This is a homecoming of sorts for Redskins football; the team’s games have aired on WMAL-AM from time-to-time as far back as 1942.  WMAL-AM/FM vice president and GM Jake McCann comments, “We are excited and honored to be working with the Redskins again.  The Redskins and WMAL were partners during the team’s three glorious Super Bowl-winning seasons.  We look forward to bringing the combined assets of WMAL to this exciting, renewed partnership.”…..NBA All-Star 2017 begins today and SiriusXM is offering coverage with special, live programming from New Orleans on its NBA Radio channel, in addition to the live broadcast of the 66th NBA All-Star Game.  Coverage will be hosted by Milwaukee Bucks guard Jason Terry, former players Eddie Johnson and Tim Legler, as well as Frank Isola, Jason Jackson, Joel Meyers, Justin Termine and Brian Geltzeiler…..The Forbes on PodcastOne network premieres “The Forbes List” today (2/16), featuring an in-depth look at the world’s top billionaires.  The show – hosted by Jordan Harbinger dives into the stories behind Forbes’ most famous lists, including the Forbes 400 list featuring the wealthiest Americans, as well as lists covering celebrities, music, sports, entrepreneurs, companies and the world’s most powerful people.  PodcastOne founder and executive chairman Norm Pattiz comments, “This makes our third launch of a new Forbes podcast and points out the strong relationship between Forbes and PodcastOne.  Jordan Harbinger has hosted “Art of Charm,” which consistently ranks in iTunes’ top 10.  This provides a combination that’s tough to beat.”

Violent Tragedy Strikes Dominican Radio Station.  Two radio journalists were shot dead and a third staffer was seriously wounded in a raid on a radio station in the Dominican Republic on Tuesday.  Numerous news outlets are reporting that news presenter Luis Manuel Medina and station director Leonidas Martinez were killed when unidentified men entered the station and shot Medina while he read a newscast and Martinez as he sat in his office.  Medina was streaming his newscast live on Facebook at the time of the attack.   It took place at radio station 103.5 FM in San Pedro de Macoris, a town near Santo Domingo.  The AFP reports that the organization Reporters without Borders states that journalists that investigate corruption and the drug business are often the victims of violent attacks.

Sports, Music, Politics and Talk Media.  TALKERS publisher Michael Harrison is joined in a free-wheeling dialogue by his long-time friend, New York City radio broadcaster Richard Neer as his guest on this week’s installment of the award-winning PodcastOne series “Up Close and Far Out.”  The two talk about the public’s and media’s obsession with Donald Trump, with an emphasis on the infiltration of sports and entertainment by political passions.  Richard Neer brings his diverse background as a legendary Big Apple music radio host (WNEW-FM), sports talker (WFAN) and best-selling author of the landmark book FM: The Rise and Fall of Rock Radio (Villard, 2001) to the discussion which focuses on the rapid morphing of the traditional left/right talk media paradigm into a more complex resistance/revolution chess game.  To listen to the podcast in its entirety, please click here or click on the “Up Close and Far Out” player box located in the right-hand column on every page of Talkers.com.

Trump Campaign Russia Communications/Flynn Exit, Puzder Withdraws From Labor Secretary Nomination, Reince Preibus’ Status, Trump vs Intelligence Community, Fate of ObamaCare, and NBA-NHL Action Among Top News/Talk Stories Yesterday (2/15).  The controversy over the resignation of National Security Advisor Michael T. Flynn and questions about the depth of communications between the Donald Trump campaign and Russian agents; Labor Secretary nominee Andrew Puzder withdraws from consideration for the cabinet position; questions about the status of White House Chief of Staff Reince Priebus after unconfirmed reports President Trump is unhappy with his work; the contentious relationship between Trump and the intelligence community; the fate of the Affordable Care Act after Aetna CEO Mark Bertolini told the Wall Street Journal the program is in a “death spiral”; and NBA and NHL action 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 performer and host lineups have been announced for the March 5 iHeartRadio Music Awards taking place at the Forum in Los Angeles.  The evening will be hosted by Ryan Seacrest and will air live on TBS, TNT and truTV at 8:00 pm ET will be broadcast on iHeartMedia-owned stations nationwide, as well as on the iHeartRadio.  Performers will include: Katy Perry, Ed Sheeran, The Chainsmokers, Shawn Mendes, Thomas Rhett, Noah Cyrus and Big Sean, in addition to the previously announced Bruno Mars…..Entercom San Diego is expanding the platform for its culinary audio feature, “Lick the Plate,” which has been airing on alternative KBZT “FM94/9,” adult contemporary KXSN “Sunny 98.1,” and country KSON.  The David Boylan-hosted program will now be available in podcast format via the stations’ websites.  The radio stations will continue to promote the show via on-air teaser segments.  These changes take effect on February 27…..Radio programming for the 52nd Academy of Country Music Awards from Westwood One is being announced.  Westwood One and Cumulus Media are the official national radio partners for the ACM Awards.  There will be a three-hour ACM Nomination Special, hosted by Thomas Rhett, on March 25 from 9:00 pm to 12:00 midnight as part of “NASH Nights Live.”  The ACM Radio Row will take place on Friday, March 31 from 12:00 noon to 4:00 pm ET and Saturday, April 1 from 10:00 am to 4:00 pm ET.  Then, the five-hour ACM Night Of Event Coverage will happen on Sunday, April 2 from 7:00 pm to 12:00 midnight…..Beasley Media Group’s adult hits WBEN-FM, Philadelphia is announcing a new weekend program featuring Kathy Romano.  The show is titled, “Her Story,” and will air Sundays at 7:30 am.  Romano – who works for sister rock station WMMR as part of the “Preston & Steve” show – says, “I’m thrilled to be the host of ‘Her Story’ on 95.7 BEN FM!  This is giving me the opportunity for some girl talk that just doesn’t make sense on WMMR’s ‘Preston & Steve’ show.  There are so many amazing women with fascinating stories that we just don’t get to hear.  Every Sunday morning I’m going to bring listeners the great stories these dynamic women have to tell!”…..Radio One hip hop outlet WKYS, Washington announces that Danni Starr is joining “The Fam in The Morning” as co-host alongside QuickSilva.  Radio One DC SVP and general manager Jeff Wilson comments, “Danni is the full package.  She’s amazingly smart, well versed in music and community activism.  Danni is authentic and transparent about her struggles and victories.  That kind of energy and wit will serve our listeners well on-air, in social media and on the street.”  Starr has worked in radio for more than a decade and is the face of TLCme on the TLC network.

Midland Pays Valentine’s Day Visit to NASH Campus.  New country act and Big Machine recording group Midland is pictured here with “NASH Nights Live” co-hosts Elaina Smith (second from left) and Shawn Parr (second from right).

PPM Analysis: Country.  Managing editor Mike Kinosian presents his analysis of the ratings performances of country-formatted stations based on Nielsen Audio’s Holiday 2016 PPM survey.  In this report, see charts detailing country stations’ (6+) numbers over the past six PPM surveys, fluctuations from December to the Holiday survey, comparisons to performances in the Holiday 2015 and Holiday 2016 surveys, station market ranks and more.  Click here for more.

Thursday, February 16, 2012

| February 16, 2012

Deborah Norville to Host Broadcasters Foundation of America “Golden Mike Awards”; Fox’s Roger Ailes to Present.  The annual “Golden Mike Awards” to benefit the Broadcasters Foundation of America takes place in New York City on Monday, February 27 at the Plaza Hotel.  Emmy-winning host of “Inside Edition” Deborah Norville returns as host of the gala event at which Fox Television Stations president of station operations Dennis Swanson will be honored with the Golden Mike Award.  Fox News chairman and CEO Roger Ailes will also be part of the program as a presenter.  The Broadcasters Foundation of America provides assistance to broadcasters in need.  The charity describes its mission as “improving the quality of life and maintaining the personal dignity of men and women in the radio and television broadcast profession who find themselves in acute need.  The Foundation reaches out across the country to identify and provide an anonymous safety net in cases of critical illness, advanced age, death of a spouse, accident, and other serious misfortune.”  There has been a notable outreach to talk radio by the Broadcasters Foundation in recent months and an accompanying surge of interest in its work by hosts and programmers around the country.  According to TALKERS publisher Michael Harrison, “I have witnessed firsthand just how wonderful this organization is as it clearly makes a difference in the lives of broadcasters who have fallen on hard times and even tragic circumstances.  These are tough times and each and every one of us is vulnerable to crisis and disaster due to health issues or any other threats facing the simple condition of being human.  I strongly encourage everyone in talk radio and beyond to join this organization or at least send a donation.  It truly is a matter of broadcasters helping broadcasters – in other words, giving back to the people of an industry that has given us such marvelous opportunities.”  For more information on the Broadcasters Foundation of America, to make a donation, or learn how to apply for a grant, please contact them at 212-373-8250, info@thebfoa.org or visit www.broadcastersfoundation.org.

CBS Corporation Revenue Down 3%; Radio Division Down 5%.  The lack of political advertising during 2011 compared to the year prior and the NBA lockout are being blamed for the drop in revenue CBS experienced last year.  In a conference call with analysts, CBS CEO Les Moonves reports improvement in auto advertising along with higher retransmission revenues helped ameliorate some of the negative effects of the loss of political and the NBA lockout.  Moonves did take some time to praise radio during the conference.  He cited both the growth at CBS Radio’s sports talk-formatted stations and the success of its all-news stations in major markets.  He also predicted this year’s political season would be a boon for broadcasters with radio getting a bigger share of that business than in previous years.

KIRO-FM, Seattle’s Ron & Don Help Raise Funds to Prevent Josh Powell from Being Buried Next to Children.  KIRO-FM, Seattle afternoon drive talk hosts Ron & Don helped raise the money necessary – more than $20,000 – to buy the cemetery plots adjacent to the two boys killed by their father in Graham, Washington.  The story of Josh Powell killing his sons Charlie and Brandon in a horrific explosion of the house during a supervised visit gained national attention.  When Crime Stoppers Tacoma-Pierce County learned the family of Powell was looking for a cemetery plot near the ones in which the boys would be buried, they intervened to buy the adjacent plots.  KIRO-FM’s Ron & Don hit the airwaves to help pay for the purchase.  Don O’Neill says, “When we heard this story at 3:00 pm today, we felt compelled to stop this tragedy from happening.  So, we asked our KIRO listeners to help us raise the funds to reimburse ‘Crime Stoppers of Tacoma-Pierce County.’”  KIRO-FM program director Larry Gifford states, “When the news and conversation on 97.3 KIRO FM impacts the hearts and minds of listeners like the tragic and shocking crimes involving the Powell family, the ‘Ron & Don Nation’ is always quick to answer the call and today was no different.  I’m continually amazed at the kind-heartedness and generosity of the people who make up our community.  They inspire, empower, and engage each other to help make a positive impact and I’m proud we were able to play a role in that today.”

Dave Ramsey and Daughter Rachel Cruze to Headline Live Los Angeles Benefit Appearance for Affiliate KFWB.  Nationally syndicated financial talk sensation Dave Ramsey makes a return to Los Angeles for a live appearance with his daughter Rachel Cruze for “An Evening on Family and Money” ” at the Redondo Beach Performing Arts Center on Tuesday, April 3 at 8:00 pm in conjunction with Los Angeles affiliate KFWB.  A portion of all ticket sales will be donated to Habitat for Humanity of Greater Los Angeles.  KFWB reports the evening’s program will include Ramsey sharing his key principles on handling money, navigating family relationships, communicating with family members more effectively and preparing children to be financially responsible adults.  Cruze will discuss how to teach your kids life lessons like the dangers of debt and the value of saving and giving.  The program will also include audience Q&A.  This will be Ramsey’s fourth live appearance in the L.A. area for KFWB.  He previously sold out the Long Beach Arena in September 2011 as well as prior appearances at the Cerritos Center for the Performing Arts and the Alex Theatre in Glendale.

Talk Host Steve Cochran Returns to Air at WIND, Chicago and KTRS, St. Louis After Health Scare.  Chicago-based talk show host Steve Cochran returned to the air at Salem Communications’ WIND, Chicago and CH Holdings’ KTRS, St. Louis after being forced off by what turned out to be a blood clot in an artery leading to his heart –the artery doctors call “the widow maker.”  Cochran shared his story with listeners after returning to the air.  On January 31, in the middle of his KTRS show (which he does from his home in Chicago), he told his producer he thought he was having a heart attack.  He drove himself to the hospital (something he doesn’t recommend) and eventually found out he had not had a heart attack but suffered from the clot doctors said they could treat with medication.  But it took him off the air for almost two weeks. Cochran is relishing his second chance after the serious health scare.  On the WIND website Cochran writes, “You may recognize a bit of you in my story.  If you do I want you to know you don’t always have tomorrow.  You need to change today.  I had spent almost all of my adult life working too much, sleeping too little.  Oh and I was also eating too much of all the wrong things, and working out…but not nearly enough.”

Ron Jaworski Re-Signs with ESPN but Exits “MNF” TV Role.  Former Philadelphia Eagles star Ron Jaworski will continue to work for ESPN – he’ll be seen on “Monday NFL Countdown,” “NFL Matchup” and be heard on the radio regularly on “Mike and Mike in the Morning” – but ESPN removes him from the cable TV broadcast of “Monday Night Football.”  The network is electing to go with a two-man booth with John Gruden and Mike Tirico for the 2012 season.  Jaworski says in a statement, “I am grateful for having the once-in-a-lifetime opportunity of working on ‘Monday Night Football’ the past five seasons with Mike Tirico, Jon Gruden and so many other talented people behind the scenes who make the show so great, and I look forward to bringing my passion and knowledge of the game to more fans in more places than ever before on any and all football topics.”

Tribune Succeeds in Removing Bogus Jonathon Brandmeier Tweeter.   Time Out Chicago’s Robert Feder reports that, although it took a little time, Tribune Company’s WGN, Chicago was able to have Twitter shut down the account of a “rabid Johnny B. fan” who had many fans believing they were reading tweets from Jonathon Brandmeier via the @JBonWGN Twitter account.  Peter Hayman is described as an “occasional contributor to the show.”  Feder reports that WGN director of marketing and digital innovation Jackie Paulus responded to criticism the station took too long to act on the matter, “As opposed to us finally getting around to it, there were two complaints filed immediately – one by Johnny’s producer and one by the station.  Unfortunately, due to the volume of these incidences, it took Twitter that long to validate and process the request.”

GOP Primary Race, Syria Violence Issues, Iran-Israel Tensions, Obama Budget, Payroll Tax Cut Legislation, and Rising Gas Prices Among Top News/Talk Stories Yesterday (2/15).  The GOP Primary race, steps to curb the continuing violence in Syria, tensions between Iran and Israel, President Obama’s 2013 budget proposal, Congressional legislation to cut the payroll tax and concern of rising gas prices were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.

Welcome Samantha Sabo!  Noted talk media consultant Walter Sabo – president of Sabo Media and Hitviews – and wife Katie welcomed Samantha Gloria Sabo (all 8 lbs. 7 ozs. and 21 inches of her!) into the world on February 14.  Walter reports that mother and daughter are doing very well and Samantha’s sisters Dorothy and Meredith are thrilled at the new addition to their family.