Tag: "class a common stock"

Friday, May 22, 2020

| May 22, 2020

NOW POSTED:  New Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.”   The vibrant, one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS magazine, is now posted.  The new episode titled “Medicine and Politics!” looks back at this past week of May 18-22, 2020 and features guests (in order of appearance): Kevin Casey, executive editor, TALKERSDr. Daliah Wachs, physician / talk show host, Genesis Communications NetworkBrett Winterble, talk show host, WBT, Charlotte; Richard Neer, talk show host, CBS Sports RadioLarry Elder, talk show host, Salem Radio Network; and Dr. Renee Kohanski, psychiatrist / commentator, MDedge Psychcast. This acclaimed news/talk radio show airs each week on its flagship, WONK-FM, Washington, DC, Friday evenings at 6:00 pm ET. It also airs throughout the weekend on WRKO, Boston; KSCO, Santa Cruz, CA; KDFD (“Freedom 93.7”), Denver; KFNX, Phoenix; WVLY, Wheeling, WV; WVOX, Westchester, NY; KBDT, Dallas; KQSP, Minneapolis; KBKW, Aberdeen, WA; WGDJ, Albany, NY;  WJFN-FM, Richmond, VA; WZFG, Fargo; KTGO, Tioga, ND; WPHM, Port Huron, MI; KSYL, Alexandria, LA; KTOE,  Mankato, MN, the Virginia Talk Radio Network, Pioneer Valley Radio in Springfield, MA, Podcast Radio, UK and many more.  To listen to this week’s episode,  please click here. To view the latest TALKERS magazine topic research, please click here.  “The Michael Harrison Wrap” is now available in syndication via Talk Media Network to stations across America on a market exclusive basis. For affiliation information, please click here or call 616-884-8616.

Cumulus Media Adopts Short-Term Shareholder Rights Plan. The company follows both Entercom (announced on April 21) and iHeartMedia (announced on May 7) in adopting a shareholder rights plan – also known in the financial world as the “poison pill” – to prevent a takeover of the company without the consent of the board of directors. Cumulus Media states, “In adopting the Rights Plan, the Board has taken note of the unprecedented impact of the COVID-19 pandemic on equity market valuations which has led to substantial volatility in the trading of the Company’s stock and a dislocation in Cumulus’ stock price, which the Board believes does not reflect the Company’s inherent value or business performance.  The Rights Plan is intended to promote the fair and equal treatment of all shareholders by preventing a creeping change of control without an appropriate premium and on terms that would not deliver sufficient value for all shareholders. In connection with the adoption of the Rights Plan, the Board declared a dividend distribution of one right (a ‘Right’) on each outstanding share of Class A common stock, share of Class B common stock, Series 1 warrant and Series 2 warrant.  The record date for the dividend distribution is June 1, 2020. Initially, these Rights will not be exercisable and will be attached to the Company’s common shares and warrants, as applicable. The Rights Plan is intended to protect shareholder interests by reducing the likelihood that any entity, person or group  is able to gain control of Cumulus through open market accumulation without paying all shareholders an appropriate control premium or providing the Board sufficient opportunity to make informed judgments and take actions that are in the best interests of all shareholders. The Rights issued pursuant to the Rights Plan would be exercisable only if a person or group acquires 10% (20% in the case of a passive institutional investor) or more of the Company’s outstanding Class A common shares (subject to certain exceptions), including through ownership of the convertible Class B common shares and/or warrants. In that situation, each holder of a Right (other than the acquiring person, whose Rights will become void and will not be exercisable) will be entitled to receive upon exercise of such Right that number of Class A common shares, Class B common shares, Series 1 warrants or Series 2 warrants, as applicable, having a market value of two times the exercise price of $25 per Right. In addition, the Rights Plan contains a similar provision if Cumulus is acquired in a merger or other business combination after an unapproved party acquires 10% (20% in the case of a passive institutional investor) or more of the Company’s outstanding Class A common shares, including through ownership of the convertible Class B common shares and/or warrants. The Board, at its option, may exchange each Right (other than Rights owned by the acquiring person that have become void) at an exchange ratio of one Class A common share, Class B common share, Series 1 warrant or Series 2 warrant, as applicable, per outstanding Right, subject to adjustment.” The Rights expire on April 30, 2021.

TALKERS News Notes. The Buffalo News reports that John Murphy is leaving his role as co-host of the “One Bills Live” program that airs on Entercom’s sports talk WGR “550 Sports Radio” daily from 12:00 noon to 3:00 pm. Murphy has been co-hosting the program with Steve Tasker. The Buffalo Bills website lists Bills insider Chris Brown and journalist Maddy Glab as Tasker’s co-hosts. Murphy also serves as radio play-by-play voice for the Buffalo Bills and will continue in that role…..UrbanMilwaukee.com columnist Bruce Murphy has a feature piece on Wisconsin progressive radio host and station owner Michael Crute that you can read here. Crute – co-host of the long-running progressive talk radio show “Devil’s Advocate” along with Dominic Salvia – owns progressive talk simulcast WRRD-AM, Waukesha/W269DL, Milwaukee as “Talk 101.7” and operates WTTN-AM, Columbus/W224EG, Madison as “Talk 92.7.” The piece addresses Crute’s decision to drop the “Resistance Radio” brand in Milwaukee of which potential advertisers were leery, as well as his surprise that Wisconsin Democrats have been hostile to his efforts…..ABC Audio’s daily, one-hour radio program “COVID-19: What You Need to Know” is re-launching as “Bringing America Back: What You Need to Know.” ABC says the Aaron Katersky-hosted program “updates the country’s fight against the effects of the COVID-19 pandemic – both medical and economic.  We answer your questions about the latest outbreak numbers and treatment developments and look at the cities and towns that are reopening, and what our new normal looks like. ABC’s chief medical correspondent Dr. Jennifer Ashton and other experts respond directly to questions submitted by ABC News listeners and viewers, and our team of correspondents and medical contributors keep you up to date on the latest news related to coronavirus.”

COVID-19 Statistics & Projections Top News/Talk Story for Week of May 18-22. The number of confirmed COVID-19 cases in the U.S., the death toll, and projections about future cases combined as the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was the state of the health care system and the controversy over the use of hydroxychloroquine to combat COVID-19. Coming in at #3 was a tie between the state of the U.S. economy and the state of education in the country, followed by the presidential race and politics at #4. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

iHeartRadio and Mental Health Coalition Partner for ‘How Are You Really?’ Campaign. During National Mental Health Awareness Month, iHeartRadio is partnering with Kenneth Cole and The Mental Health Coalition to end the stigma surrounding mental health and to change the way people talk about, and care for, mental illness. The initiative addresses the most universally and commonly asked, but rarely answered question, ‘How Are You, Really?’ The campaign challenges people to answer this as honestly as they can and inspire many others to do the same to help destigmatize all mental health conditions. As part of the collaboration, iHeartRadio is airing PSAs voiced by on-air personalities Elvis Duran, Ryan Seacrest, Bobby Bones and Steve Harvey, encouraging listeners to answer how they’re really doing and challenge those in their lives to do the same. In addition, iHeartRadio is hosting and airing a 30-minute public affairs show discussing the effects of COVID-19 on mental health. Interviewees include social activist and iconic fashion designer Kenneth Cole; Dr. Harold S. Koplewicz, president of Child Mind Institute; and Dr. Ken Duckworth, chief medical officer of National Alliance on Mental Illness.

MIW Radio Group Adds Four to Executive Committee. The Mentoring & Inspiring Women in Radio Group adds four new members to the MIW Group executive committee: Angie Balderas, SVP & general manager Entravision; Valerie Blackburn, principal VKB Media Consulting; Tricia Gallenbeck, VP & general manager Reno Media Group; and Beth Neuhoff, CEO and president Neuhoff Media. MIW Group national spokeswoman Denyse Mesnik says, “Seasoned radio pros, these accomplished ladies bring expertise in a variety of areas, years of experience in leadership and well-earned reputations as some of the best in the business. They are perfect additions to the MIW executive committee and, not surprisingly, they’ve already hit the ground running on behalf of the MIWs! We also extend heartfelt thanks to two good friends and long-term MIW colleagues transitioning off of the executive committee, Heidi Raphael, chief communications officer, Beasley Media Group (MIW Spokeswoman from 2008-2014) and Jennifer Williams, VP digital marketing, Beasley Media Group. They leave with our immense gratitude for many years of dedication and service to the MIWs.”

TALKERS Magazine Presents the 2020 100 Most Important Sports Talk Radio Hosts in America. The editors of TALKERS magazine, with input from industry leaders, have compiled and published the eighth annual Heavy Hundred of Sports Talk – The 100 Most Important Sports Talk Radio Hosts in America. This list, like its long-established “sister list” – the long-running annual “Heavy Hundred” that ranks talk radio hosts working in the news/talk and general talk genres – the editors of TALKERS magazine have ranked sports talk hosts, duos, or ensembles from 1 to 100 based upon a set of criteria that includes a combination of hard and soft factors. TALKERS executive editor Kevin Casey says it’s important to note that this year’s Heavy Hundred comes with an important qualifying statement. “The publication of this year’s list was delayed by the coronavirus pandemic and it is crucial to note that it represents a snapshot of the industry as it was shortly after January 1, 2020 and is based on performances and assessments made prior to that point. Although we were prepared to publish the list in March, we delayed publication in order to focus on the pandemic’s effect on the radio industry. As a result of COVID-19, some of the talent on this list have been victims of unexpected staff reductions and furloughs and are not currently on the air. It is our belief that they deserve to be recognized for their accomplishments, nonetheless. TALKERS salutes the fine broadcasters who made the eighth annual list!” See it here.

PPM Analysis: Classic Hits/Oldies. TALKERS magazine managing editor Mike Kinosian presents a look at the performances of radio stations based on data from Nielsen Audio’s April 2020 PPM survey, today focusing on the classic hits and oldies formats. See how those stations performed in April compared to March 2020 and in comparison to April of 2019, plus more, here.

Music Radio News and Career Moves. The City of Chicago is partnering with iHeartMedia Chicago hip hop outlet WGCI for two days of virtual entertainment to encourage residents to stay home while still enjoying themselves and experiencing music and culture over the Memorial Day Holiday weekend. Under the Stay at Home order and CDC guidelines prohibiting gatherings of over 10 people, the virtual entertainment will provide Chicagoans with an online opportunity to engage and celebrate the weekend at home. The 107.5 WGCI Stay at Home Weekend starts Saturday with an Instagram Battle between two of Chicago’s own hip hop artists, GHerbo and Lil Durk. Starting at 8:00 pm, these two rappers will go song-for-song for the title of Stay at Home Weekend Rap King. On Sunday the Stay at Home Weekend continues with a virtual comedy tour hosted by 107.5 WGCI’s Leon Rogers. This virtual show will feature comedians, Just Nesh, Dawn B, Lavar Walker, Correy B, and Damon Williams. iHeartMedia Chicago region president Matt Scarano says, “I am honored to have the privilege of partnering with the City of Chicago in its mission of promoting the health and safety of our community during this critical time. As a broadcaster it is our responsibility to engage in continuous collaboration with Mayor Lori Lightfoot and the Chicagoland community.”

Friday, June 28, 2019

| June 28, 2019

Cumulus Chief Memos Employees in Wake of WABC Sale. In tandem with yesterday’s surprise news that John Catsimatidis-led Red Apple Media is acquiring legendary New York station WABC for $12.5 million, Cumulus Media CEO Mary Berner issued a memo to employees that explains the company’s policy on sales. Specifically, Berner says the company has no plan to exit large markets.  After the sale of WPLJ and now WABC, Cumulus has one station – urban music outlet WNBM – in the New York market, and she says the company will sell that station, as well.  But staffers should not interpret the New York move as one destined for all large market holdings.  She says the company will sell when it’s advantageous and buy when it’s a fit.  “In New York’s case, we’ll be exiting a market that has been tough for us, and through these deals we will be able to realize significant value for the company – over and above what we could have generated from continued operations.  And for anyone who is still listening to rumors out there, I will say again that there is absolutely no grand plan to exit our big markets.”  She concludes, “Always remember that any actions we take to strengthen our company help to assure a brighter future for FORCE CUMULUS.  So, let’s keep building on our strong momentum and being relentlessly HABU in all of our efforts and with every one of our assets.  I am incredibly proud of our progress and look forward to continuing to deliver on our strategic goals.”

iHeartMedia Shares to Trade on NASDAQ Global Select Market. The Class A common stock in iHeartMedia has been approved for listing on the NASDAQ Global Select Market. It will trade under the ticker “IHRT.” The company says in a press release, “As previously announced, iHeart had been evaluating all paths to achieve a listing of its Class A common stock on a recognized U.S. stock exchange following emergence from its restructuring process.  iHeartMedia has determined that a listing on the NASDAQ Global Select Market is the optimal strategy for iHeartMedia and all of the company’s stakeholders.  As a result, the Company has requested the withdrawal of its previously filed registration statement on Form S-1 with the U.S. Securities and Exchange Commission. iHeartMedia’s management team will be meeting with investors the week of July 15 in advance of a listing date of July 18, 2019.”  Company chairman and CEO Bob Pittman adds, “This is an exciting time for our company and an important step in the evolution of iHeartMedia.  Our listing on the NASDAQ will provide greater liquidity for existing shareholders, allow us to diversify our investor base, and give us improved access to public capital markets in the future.”

New Installment of “The Michael Harrison Wrap” for Week of June 24-28 Now Posted.  The recently launched, one-hour weekend radio show, “The Michael Harrison Wrap: An Overview of the National Conversation,” analyzing the hot talk media topics of this past week (June 24-28) is now posted on the website of its flagship station, iHeartMedia‘s WONK-FM, Washington, DC.  It currently airs on WONK-FM in the key position of Friday at 6:00 pm as a dynamic programming punctuation mark of the week’s conversation.  Hosted by TALKERS magazine’s iconic publisher, this week’s installment (titled “Three Ring Circus!”) features a lineup of guests that includes TALKERS executive editor Kevin Casey; radio talk show hosts Michael Savage of Westwood OneSean Hannity of Fox News Channel/Premiere Networks; and Charles Freedman of KSCO, Santa Cruz; political strategist and pundit Ethan Bearman; social/political observer Victoria Jones of the DC Radio Company and John Catsimatidis, CEO, Gristedes Foods/Red Apple Group. The non-partisan-but-hard-hitting program explores multiple opinions along the spectrum of contemporary American political and social thought.   According to TalkersRadio general manager David Bernstein, the program is now available on a market exclusive basis to news/talk stations around the nation.  Bernstein says, “We began this show as an on-air extension of TALKERS magazine research to be played on TalkersRadio and the feedback has been overwhelmingly positive.  The show is nothing short of fantastic and provides a great image-setter for any news/talk outlet.  iHeartMedia picked it up for its new WONK-FM in DC where it fits that station’s mission perfectly and a number of stations have inquired about its availability.  We are in the process of figuring out where we want to go with it… whether we will put it into syndication or just make it available to a handful of stations.”   For more information about the program, call Barbara Kurland at 413-565-5413.  To listen to it in its entirety, please click here.

Kantar Media: Radio to See 6.6% of $6 Billion Political Ad Spending. Media research and consulting firm Kantar Media has issued its projection for the ad spending during the 2019-2020 political cycle and believes $6 billion will be spread across cable TV, broadcast TV, digital, and radio.  Radio’s share of the pie is predicted to be $400,000,000 – 6.6% of the total.  Who gets the most?  Broadcast television is predicted to get $3.2 billion of that.  Cable TV and digital platforms are each to get $1.2 billion, according to Kantar’s estimates.  See more here.

Beebe Promoted to Regional SVP of Sales for iHeartMedia. Sales pro Kristy Beebe is named regional SVP of sales for iHeartMedia’s Kentucky-Indiana region, effective August 1.  Beebe has been serving as general sales manager for the company’s Louisville cluster for the past two years.  She will remain based in Louisville.  She says, “I am so thankful to the iHeartMedia team for the confidence that they have shown in me.  My decades in radio have prepared me to contribute to the growth and success that has been building in these markets.  Our legendary radio brands combined with our ever expanding digital and event offerings create an unmatched marketing portfolio!  I can’t wait to dig in with our sales teams and use these amazing tools to drive success for our partners.”

Manetta Named Promotions Manager for Cumulus Des Moines. Moving from the company’s Topeka operations to its Des Moines cluster is Cassidy Manetta, who takes on the promotions manager position for the group that includes sports talk KBGG-AM “1700 The Champ” and four music-formatted stations.  Cumulus Des Moines vice president and market manager Jack Taddeo says, “Cassidy impressed me with her creativity, experience, and enthusiasm for all the things radio needs to be doing in an increasingly competitive world.  My thanks to Topeka VP/market manager Nic Merenda for graciously supporting this internal promotion to the benefit of Cumulus Des Moines.”

TALKERS News Notes. The Howie Carr Radio Network announces that Grace Curley is promoted from associate producer to executive producer of “The Howie Carr Show.”  Curley – who, like Carr, is also a columnist at the Boston Herald – has been with the network since its 2014 launch.  Howie Carr tells TALKERS, “Grace brings tremendous intelligence and communication skills to both our program and the Boston Herald and she does it with a fresh ‘millennial sensibility.’”  HCRN president Kathy Carr says, “One of the most rewarding parts of my job is discovering new talent and seeing them grow.  I’m very proud of Grace.”…..A new iHeartMedia Original Podcast launched yesterday (6/27) in partnership with Tenderfoot, titled “Monster Presents: Insomniac.”  It looks at the story of true-crime researcher Scott Benjamin, the show’s host and protagonist, and his retelling of serial killings and how it started to affect his everyday life – from tormenting him and consuming him to eventually turning him into an insomniac…..Podcaster Jessica Cordova Kramer and best-selling author Stephanie Wittels Wachs join forces to form a new podcast network, Lemonada Media, in partnership with Westwood One.  The network, launching in September, will “share an unfiltered version of the human experience, offering content that is raw and real, sorting through the ugliness, weirdness, awkwardness and darkness life can bring.”  Westwood One will distribute, sell, and market the shows to build audiences across the Lemonada network…..SiriusXM is presenting comprehensive live coverage of The Championships, Wimbledon 2019 from the opening day of play on Monday, July 1, through the Ladies’ and Gentlemen’s Singles Finals on Saturday, July 13, and Sunday, July 14.  The broadcasts will air courtesy of ESPN Audio, which is the exclusive live broadcaster of Wimbledon in the U.S., and The All England Lawn Tennis Club…..Pictured below is Westwood One News White House correspondent Bob Costantini in front of Air Force 1 in Osaka, Japan.  Costantini is there covering President Trump’s participation in the G20 Summit.

Michael Savage Is This Week’s Guest on Harrison Podcast.  One of the most famous, successful, and controversial talk radio stars of the modern era, Westwood One syndicated personality Michael Savage, is this week’s special guest on the award-winning PodcastOne presentation, “The Michael Harrison Interview.”  Harrison and Savage candidly discuss the recent story about him that ran in The New York Times by Jeremy Peters (6/18) – a piece that displeased Savage, including a specific quote attributed to Harrison with which he took particular issue.  Harrison and Savage also take an unabashedly critical dive into the inner-workings and politics of talk radio that professional practitioners of the medium and listeners alike will find fascinating.  Do not miss this podcast!  To listen to the podcast in its entirety, please click here or click on the player box marked “The Michael Harrison Interview” located in the right-hand column of the TALKERS email newsletter and on every page of Talkers.com.

Immigration Reform/Southern Border Crisis Top News/Talk Story for Week of June 24-28. The Trump Administration’s immigration reform efforts and the migrant crisis at the U.S.-Mexico border was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM.  At #2 this week was the 2020 presidential race and this week’s Democratic Party debates.  Coming in at #3 was the G20 Summit and the various trade wars, followed by former special counsel Robert Mueller’s July 17 testimony before a House Judiciary subcommittee at #4.  The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine.  It is published every Friday at Talkers.com.  See this week’s entire chart here.

Music Radio News and Career Moves. As had been rumored, Rickey Smiley is named the successor to legendary radio host Tom Joyner on the Reach Media nationally syndicated urban AC program.  Joyner himself made the announcement on his “Tom Joyner Morning Show.”  Joyner is retiring at the end of the year and Smiley will assume morning host duties in January of 2020 from the Dallas studios.  Joyner says that Smiley has established himself as a trusted leader on-air and in the community with his current show, captivating audiences with his authentic humor but also his unique perspective on topics important to his audience.  Smiley also announced that Eva Marcille and Gary Wit Da Tea would be among the on-air cast members joining Smiley next year…..Beasley Media Group makes changes at classic hits WROR, Boston as former WLTW, New York “106.7 Lite FM” morning host Bob Bronson takes over for Loren Owens, who has been hosting the “Loren & Wally” morning solo since the retirement of Wally Brine.  Bronson starts Monday (7/1).  Beasley Boston director of programming Cadillac Jack says, “I’ve known Bob for over a decade and am excited for the ROR audience to get to know him as well.  He’s a battle-tested, hard-working winner who is a relatable storyteller and all-around wonderful person to be leading our talented morning team!”…..Across town at iHeartMedia Boston, the company re-brands urban AC WKAF-FM as “The New 97.7 The Beat of Boston.”  The station says it will broadcast pop and rhythmic hits from the 80s, 90s and 2000s, including songs from artists like Boyz II Men, Mariah Carey, Justin Timberlake, MadonnaPrince, TLC, and The Notorious B.I.G.  It plans to add new personalities to the station.  Sister CHR WXKS-FM “Kiss 108” afternoon personality Romeo is also hosting middays on WKAF.  KJ will host the afternoon show…..iHeartMedia announces Ashley Wilson is named director of country programming for the Kentucky-Indiana region, effective July 22. She was most recently program director for the company’s WNOE-FM, New Orleans.  In this role, she’ll oversee the country programming for the region’s five country stations, including WAMZ-FM, Louisville and WBUL-FM, Lexington “98.1 The Bull.”  Regional SVP of programming Michael Jordan says, “Ashley is becoming a leader in her field and we are fortunate to bring her to our region.  She brings a lot to the table and will be a valuable asset to our team.”…..Meruelo Media announces that Cece Valencia is joining KDAY-FM/KDEY-FM, Los Angeles to co-host the “Cece and Romeo” morning show. She says, “KDAY is more than a home to me, it’s a dream come true.  I’m so lucky to be able to play the music that I love on such an iconic station.  Romeo is so talented and funny.  Waking L.A. up every morning with Romeo is gonna be fun.”…..Air personality Emily Wild and Entercom part ways as Wild exits the morning show at alternative WLKK, Buffalo after a three-plus year relationship…..Albany radio pro Kevin Rush is leaving his home of almost 18 years – iHeartMedia’s hot AC WRVE “99.5 The River” next month to re-locate to Florida with his family.  Rush’s co-host Tracy Villaume is expected to remain in mornings.

Tuesday, January 14, 2014

| January 14, 2014

dollarsignJohn Hogan’s Exit from Clear Channel Cushioned with Cash.  Although the official line from former Clear Channel Media + Entertainment chairman and CEO John Hogan and the company is that he wanted to “spend more time with his family” and the time was right, a fair number of jaded industry watchers will never believe he wasn’t forced out – especially just seven months after he was moved to the company’s New York City offices to work more closely with CC Media Holdings chairman and CEO Bob Pittman.  The company’s 8-K filing details what Hogan is walking away with after his time leading the division.  Here’s what he can counthoganjohn on: $900,000, representing the amount previously earned by Hogan pursuant to a supplemental incentive plan with respect to 2012 performance; an annual bonus of $77,250 for performance during 2013; and a prorated annual bonus with respect to the days he was employed during 2014.  Pursuant to the Separation Agreement and in consideration of the extension by Mr. Hogan of certain restrictive covenants applicable to him, the vesting of 93,076 restricted shares of Class A Common Stock of CCMH granted to Mr. Hogan on October 22, 2012 will be accelerated and CCMH will repurchase 83,938 of such shares (the aggregate repurchase amount of such repurchased shares, the “Repurchase Amount”), provided Mr. Hogan does not revoke the Separation Agreement.  Additionally, in exchange for the Separation Agreement, Mr. Hogan’s release of claims and the extension of certain restrictive covenants applicable to him, and provided that Mr. Hogan does not revoke the Separation Agreement, CCB agreed to pay Mr. Hogan: $333,000, representing the remaining amount earned by Mr. Hogan pursuant to a supplemental incentive plan with respect to 2011 performance; an “equity value preservation payment” equal to $1,027,355, paid in a lump sum payment; a lump sum severance payment equal to (x) $1,538,000 minus (y) the Repurchase Amount; a severance payment equal to $3,297,000, paid over 36 months; and a payment of $1,000,000, paid over 12 months, beginning on the first anniversary of the date of separation.  Hogan is also entitled to receive continued healthcare coverage for 36 months, continued secretarial services for 6 months, $20,000 in outplacement services, and a housing allowance of $25,000 per month for up to 9 months, which amount is grossed up for certain applicable taxes; provided, that the housing allowance payments will stop if Mr. Hogan ceases to have obligations under the terms of his current lease agreement.  CCB also will pay up to $25,000 for Mr. Hogan’s reasonable legal fees incurred in connection with the negotiation of the Separation Agreement.

hannityseanSean Hannity to Air on Salem’s WDTK, Detroit.  The Motor City destination for Premiere NetworksSean Hannity show is Salem Communications-owned WDTK.  The program will air live in the 3:00 pm to 6:00 pm slot.wdtk logo  It previously was heard on crosstown news/talk WJR since its 2001 national debut.  WDTK general manager Chris MacCourtney states, “The opportunity to bring Sean Hannity aboard was one we felt we could not pass up.  Sean was an instant hit when he came to Detroit and he continues to be one of the most popular talk personalities in the market.  He will join an already solid lineup of talk talent on ‘News/Talk 1400.’”  Since the first of the year, Hannity’s program had been added to Salem outlets WIND, Chicago; WWRC, Washington; and KSKY, Dallas.

quigleyalexDouble Shot of WGN, Chicago News.  Two items from Tribune’s WGN, Chicago: First, as Chicago media writer Robert Feder reported over the weekend, assistant program director Alex Quigley has been upped to operations manager at news/talk WGN, Chicago.  Quigley worked in the market at former Emmis alternative rock WKQX as interactive program manager.  When he first came to WGN he hosted the weekend show “ChicagoNow Radio” and “Chicago Preps Plus.”  WGN vice president of creative content Todd Manley said in a memo to staffers, “This is a recognition of Alex’s role in our expanding future…He’ll be mentoring producers and searching for new talent that builds our farm system, coordinating special programming, scheduling, digging deep on ratings analysis, and dreaming big dreams.”  Second,jacobsonwalter longtime television news personality Walter Jacobson brings his “Perspective” commentaries to the station beginning this Thursday.  Robert Feder reports that the longtime WBBM-TV anchor who exited the station last February will present his 90-second feature on Thursdays during Bob Sirott and Marianne Murciano’s midday show and they will be repeated on the weekend during “The Sunday Spin: Politics with Rick Pearson” program.  Jacobson will also appear as a contributor to various shows on WGN.  Jacobson tells Feder, “Having been listening to WGN Radio since the day I became a reporter, and believing it’s the best in the business, I’m thrilled to be joining the team.  For me, it’s a perfect fit at a perfect time.  The station’s coming back, and 2014 is going to be an intriguing and exciting year in Chicago’s wild and woolly politics.”

salemcommunicationsSalem Communications Buys Eagle Publishing for $8.5 Million.  It had been reported recently that this deal was on the way and now it’s official as Salem Communications enters into a deal to purchase the assets of Eagle Publishing that includes conservative book publisher Regnery Publishing, and digital properties RedState.com and HumanEvents.com.  In a statement, Salem CEO Edward Atsinger IIIeaglepub logo says, “Eagle is one of the most influential companies in the conservative media space.  Its addition to Salem brings together a unique portfolio of conservative media properties and fits with our strategy of integrating traditional media and new media assets all serving the same target audience.  The opportunity we like most about this acquisition is that each of Eagle’s businesses matches up so well with Salem’s extensive media platform.  With 102 radio stations and a dozen major national websites all targeting the conservative community, this provides a perfect marketing platform to promote Eagle’s products to a wider audience.”  The purchase price is $8.5 million and current Eagle CEO Jeff Carneal will exit the organization as a result of the acquisition.

sternhoward‘A-List’ Talent Jon Bon Jovi and John Fogerty Added to Howard Stern Birthday Broadcast.  The January 31 birthday bash broadcast for SiriusXM’s Howard Stern just added two more “A-list” talents as Jon Bon Jovi and John Fogerty will join Steven Tyler, David Letterman and Louis C.K. for the show to be hosted by Jimmy Kimmel live from the Hammerstein Ballroom in New York City.  On his program, Stern announced, “We have told you on the music side of things that we have Steven Tyler coming by to do a little number in honor of my birthday, I’m so honored…[today] I am excited [to announce that]…Jon Bon Jovi is going to perform…I am very excited to see Jon and thank him for that.  And also one of my heroes will perform that night—one of the greats, the all-time greats.  A guy whose every record I bought when he was in Creedence Clearwater Revival, and later his solo stuff, John Fogerty will come by to perform two great songs – I won’t say what the songs are, [but] we’re really excited about that…the list just begins there, Robin, it just begins there [there is] a huge amount of musicians coming by to help us out…it’s great.”

dubayjeffSports Talk Host Jeff Dubay Exits KSTP, Minneapolis in Budget Move.  Twin Cities sports talk personality Jeff Dubay, who fought a public battle against drug addiction to return to the airwaves in the market on Hubbard Radio’s KSTP, has left the station in what he says is a budget-related move.  The Star-Tribune reports Dubay – who worked at Clear Channel’s “KFAN” sports talk brand for 10 years before a crack cocaine addiction sidelined him – sent social media messages indicating that he was let go from the late morning show he co-hosted with Judd Zulgad because of financial reasons.  The station posted a message on its Facebook page confirming the matter was financial and not performance related.  The paper reports KSTP waived Dubay’s non-compete and he is free to work in the market if the opportunity arises.

shannonmikecardsShannon Staying With the Redbirds. St. Louis Cardinals fans will continue to hear Mike Shannon as the voice of the National League team that appeared in the 2013 World Series, as the former MLB player signs a two-year contract extension.  This will be Shannon’s 42nd year as a Cardinals broadcaster and 56th year with the team.  According to club president Bill DeWitt, “Mike’s voice has become the soundtrack to St. Louis baseball.  We look forward to having him back in the booth this season and for years to come.”  It is anticipated that Shannon will call all Cardinals’ home games this year for St. Louis flagship KMOX and roughly 30 road games for the CBS Radio-owned talk station.  Fox Sports Midwest‘s Rick Horton and former lefty relief pitcher Al Hrabosky will do the remaining road games.  Shannon will continue his work throughout the year on KMOX pre-game, post-game, and morning drive call-in segments.

mhblasingamebookGreat Read!  TALKERS publisher Michael Harrison is pictured intensely absorbing the new book authored by independently syndicated talk show host Jim Blasingame titled The Age of the Customer: Prepare for the Moment of Relevance  (2014 SBN Books).  Blasingame is the longtime host of the very successful program “The Small Business Advocate Show” which is targeted to helping independent entrepreneurs and business owners cope with the day-to-day issues that face people running their own companies during this era of rapidly accelerating change.  This book, Blasingame’s third, is “his best work yet,” according to Harrison and “must-reading for anyone out there on the perilous high seas of today’s turbulent marketplace…especially those who are doing it independently without the backing of the Wall Street/banking/big-time money machine.”  Harrison goes on to say, “This includes those brave and hardy ‘Davids’ owning and operating independent radio stations and small groups, syndication companies and internet communications startups bucking the death grip of today’s mega-corporate ‘Goliaths.’”  The premise of the book is that small business owners are operating at a time that is so momentous it has never happened before.  Blasingame, a veteran of TALKERS magazine’s Heavy Hundred, identifies it as an epochal marketplace shift that’s causing the 10,000 year old Age of the Seller to be replaced by the Age of the Customer.  With an introduction by Steve Forbes, Blasingame’s book reveals how these two ages are existing concurrently in parallel universes, and how much time business-people have left to join the emerging universe.  He says relevance is replacing competitiveness and explains how to recognize when you arrive at the “moment of relevance,” how to connect with “new-influencers” who co-own your brand message; why you must be a good storyteller; the good, the bad and the ugly of social media; and he identifies the “killer app” that wasn’t a part of your past but will dominate your future.  Broadcasters interested in learning more about this book and perhaps scheduling Jim Blasingame as a guest can visit AgeoftheConsumer.com or email jim@jbsba.com.

cpb logoWHYY, Philadelphia-Led Local Journalism Center Awarded CPB Grant.  The recipient organization of a Corporation for Public Broadcasting grant for $1.5 million is the new multimedia local journalism center (LJC), Keystone Crossroads — a collaboration of Pennsylvania public media stations.  The new Keystone Crossroads is led by WHYY, Philadelphia.  Pittsburgh’s WQED and WESA FM, Central Pennsylvania’s WPSU and Harrisburg’s WITF will be partner stations.  The LJC will focus on the challenges the cities are facing, including a shrinking tax base and crumbling infrastructure, and enormous budget deficits.  The Corporation for Public Broadcasting  states, “By combining smart storytelling with energetic civic engagement, Keystone Crossroads will help Pennsylvanians see the challenges of their cities more clearly, understand how they are related, and create a forum for potential solutions at both the local and state levels.”  CPB president Pat Harrison adds, “Local Journalism Centers are really centers of collaboration comprising public media stations working together to report on local stories with significant impact.  This kind of focused collaboration ensures in depth reporting on issues of importance and concern to Pennsylvanians and of interest to all Americans.”  In addition to Keystone Crossroads, CPB  funds six other LJCs across the country, including:  EarthFix based in the Northwest; Fronteras in the Southwest; Harvest in the Midwest; Innovation Trail in upstate New York, the Southern Education Desk in the South, and most recently the Energy LJC in the Rocky Mountains.

Chris Christie Scandal, Hillary Clinton in 2016, New Congressional Spending Deal, ObamaCare Enrollment Status, A-Rod Suspension/Legal Challenge, and Golden Globe Awards Top News/Talk Stories Yesterday (1/13).  The ongoing analysis of the Chris Christie lane closure scandal and apology press conference; speculation about Hillary Clinton’s plans to run for president in 2016; the new $1 trillion spending plan approved by Congress; enrollment in healthcare plans via the Affordable Care Act; Alex Rodriguez 162-game suspension and his plans to challenge the arbitration ruling; and the aftermath of Sunday’s Golden Globe Awards were some of the most-talked-about stories on news/talk radio, according to ongoing research from TALKERS.

test