Tag: "chapter 7"
SiriusXM Delivers 2011 Revenue Increase of 7%. Sirius XM CEO Mel Karmazin opened the Thursday conference call with positive news about 2011 and rosy predictions for 2012. Karmazin reports the satcaster added 1.7 million net new subscribers with revenue topping $3 billion for 2011. He told analysts the company has reduced programming costs by 27% over the past three years to bring them to 10.7% of adjusted revenue. And Mel’s favorite figure – free cash flow – was also a nice one: $416 million. Karmazin says he expects free cash flow to grow to $700 million this year due in part to the restrictions on subscription prices having been lifted. He projects revenue to hit $3.3 billion in 2012 with 1.3 million new subscribers added.
Nassau Broadcasting Agrees to Undergo Chapter 7 Liquidation. It was four months ago that Nassau Broadcasting Partners convinced U.S. Bankruptcy Judge Kevin Gross to allow its Chapter 7 liquidation being sought by its creditors to be converted into a Chapter 11 reorganization. Now, the company wants to liquidate itself and is asking the judge to approve an auction of its 49 stations. Nassau owes more than $280 million to its senior lenders which include Goldman Sachs Lending Partners LLC, P.E. Capital LLC and Fortress Credit Opportunities. Nassau’s spoken word stations include: WARK, Hagerstown, Maryland; WTSV, Claremont, New Hampshire; WEMJ, Laconia, New Hampshire; WVPO/WPLY, Wilkes-Barre, Pennsylvania; WEEX/WTKZ, Allentown, Pennsylvania; WSNO, Barre, Vermont; and WNHV, White River Junction, Vermont.
Dave Ramsey to Take Over Live Midday Slot on WOR, New York. The end of the nationally syndicated Lou Dobbs talk radio show is creating room for other hosts and programs across the country and in New York City at Buckley Broadcasting’s WOR, independently syndicated Dave Ramsey moves from delayed broadcast status to airing in the live 2:00 pm to 4:00 pm slot beginning February 27. WOR VP/GM Jerry Crowley states, “In these rocky economic times New Yorkers need a voice they can trust to guide them in their money decisions. We are proud to welcome the country’s top name in financial talk radio – Dave Ramsey – to our award-winning lineup.”
“Battle Line with Alan Nathan” Adds Two Hours on Lifestyle TalkRadio Network. Alan Nathan’s Main Street Radio Network-produced talk program is already distributed nationally via the Blue Star Media’s Lifestyle TalkRadio Network from 5:00 pm to 7:00 pm daily. Now, with the departure of Lou Dobbs’ radio program from the network, “Battle Line” adds another two hours from 8:00 pm to 10:00 pm. Main Street Radio Network president Jane Silk says, “Main Street is very excited with the additional two hours of ‘Battle Line’ on LTRN. Our working relationship with the staff of BTRN/LTRN is a model on how companies can work together for the good of all involved!” Business TalkRadio Network CEO Michael Metter comments, “We are thrilled to be a part of the increase in Alan’s reach. We are looking forward to bringing our affiliates the brilliance of Alan’s informed, entertaining centrist views.”
Fabulous Sports Babe Nanci Donnellan Off WHBO, Tampa Due to Health Issues. The Tampa Bay Times is reporting that Nanci Donnellan – known as the Fabulous Sports Babe – is absent from her midday sports talk show on Genesis Communications’ WHBO, Tampa due to what is believed to be health issues. The station is not commenting. Donnellan, who hosted a nationally syndicated sports talk program on ESPN Radio in the 1990s and at Sports Fan Radio Network after that – left radio for a period to battle breast cancer before returning to the air in Florida, eventually settling at WHBO. Sitting in for her is former WDAE sports reporter Whitney Johnson.
Boston Radio Community Honors Memory of WBZ Personality Dave Maynard. During a 40-year radio and TV career Dave Maynard ruled the airwaves in Boston on WBZ during the 1980s. He’s being remembered for his warm personality that made his program such a success in the market. Maynard died at his home in Citrus Hills, Florida on Wednesday at age 82. He’d suffered with Parkinson’s for the past decade. WBZ director of news and programming Peter Casey tells the Boston Globe, “He was just a genuine, honest person on the radio. There wasn’t a Dave Maynard on the air and a Dave Maynard off the air. He made a career being Dave Maynard on the air, and that was the Dave Maynard who lived next door to you.”
Bell Media Cuts 16 Positions in Ottawa Radio/TV Cluster; Afternoon Talk Host Michael Harris Among Casualties. While the Canadian economy has not been hit as hard as America’s during recent times, it appears Bell Media is feeling the pinch and the need to restructure its Ottawa operations. According to the Ottawa Citizen, among those let go in addition to CFRA afternoon host Michael Harris on the spoken word side include CFRA reporter Gord McDougall, sports CFGO – Team 1200 – staffers Jim Jerome, Phil Melanson and Mike Sutherland. Harris had been a talk host at CFRA for the past 11 years. He tells the paper the moves appear to be financial in nature and management “went out of their way to say it had nothing to do with the quality of my work.”
GOP Primary Battle the Top News/Talk Story for the Week of February 6-10. The intensifying GOP primary battle between Mitt Romney, Newt Gingrich and Rick Santorum (with Ron Paul sticking it out as well) landed atop the Talkers TenTM as the most-talked-about story on news/talk radio this week. Right behind at #2 was the 2012 presidential race combined with the Obama Super PAC story. At #3 was the Syria policy and the closure of the U.S. embassy there as a result of the intense violence. And at #4 was the foreclosure abuse settlement signed by President Obama. The Talkers TenTM contains the 10 top stories and people discussed on news/talk radio during the week according to ongoing research from TALKERS.
In the Belly of the Beast. WMAL-AM/FM, Washington, DC morning drive team the “Morning Majority” broadcast live from the Conservative Political Action Conference in Washington, DC this week. Pictured here are “Morning Majority” co-hosts Brian Wilson (l) and Mary Katherine Ham (c) interviewing CPAC organizer Al Cardenas (r) of the American Conservative Union. Also broadcasting from the two-day event were WMAL morning co-host Bryan Nehman and midday talk host Chris Plante.
WNDB, Daytona Beach Talk Host Marc Bernier Moderates Carlson-Begala Debate. The Daytona Regional Chamber of Commerce packed 600 people into the Daytona Beach Ocean Center for a debate of the issues of the election season between CNN analyst and Democrat Paul Begala and Fox News Channel personality and Republican Tucker Carlson. WNDB talk show host Marc Bernier served as moderator for the event. Pictured here are (from l-r) Paul Begala, Marc Bernier and Tucker Carlson.