Tag: "fourth quarter"
Friday, February 21, 2020
Pete Mundo Upped to Program Director for KCMO-AM. Programming and on-air pro Pete Mundo is promoted from APD to program director for Cumulus Media’s news/talk KCMO-AM/K279BI, Kansas City. Mundo is also host of the station’s morning show. Before joining Cumulus Kansas City, Mundo served as a host/anchor for FOX News Radio, CBS Sports Radio,
Sports Illustrated’s daily platforms, and WFAN, New York. Cumulus Kansas City RVP and market manager Donna Baker says, “One of the most fulfilling rewards as a leader is seeing the impact that someone as talented as Pete can make in just two years. Growth of nearly 75% in audience since his arrival is the result of Pete’s daily focus, drive, passion, and hard work. This well-deserved promotion to program director is an opportunity to continue to expand the brand of KCMO Talk Radio for years to come.”
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 on the website of its flagship station, WONK-FM, Washington, DC. The new episode titled “Billions and Billions!” looks back at this past week of February 17-21, 2020 and features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Wayne Allyn Root, talk show host, USA Radio Network/Newsmax TV; Howard Monroe, talk show host/owner, WKKX/WVLY, Wheeling, WV; Grace Curley, producer/co-host, the Howie Carr Show; Daliah Wachs, M.D., talk show host, Genesis Communications Network; and Victoria Jones, executive director, DC Radio Company. This acclaimed news/talk radio show airs each week on WONK-FM, Washington, DC Friday evenings between 6:00 pm-7:00 pm ET. It also airs throughout the weekend on WRKO, Boston; KSCO, Santa Cruz, CA; KFNX, Phoenix; WVOX, Westchester, NY; KBDT, Dallas; KQSP, Minneapolis; KBKW, Aberdeen, WA; the Virginia Talk Radio Network and Pioneer Valley Radio in Springfield, MA as well as appearing on the iHeartRadio App. To listen to this week’s episode (and the program’s complete archives), please click here. To view the latest TALKERS magazine topic research, please click here.
Zaslow Re-Ups with ‘AM 790 The Ticket’ in Miami. Sports talk host Jonathan Zaslow and Entercom’s WAXY-AM, Miami “AM 790 The Ticket” agree to a new, multiyear contract extension for him to remain host of the 10:00 am to 2:00 pm show, “Zaslow and Amber,” alongside Amber Wilson. Zaslow will also continue to serve as pregame and postgame host for Miami Heat gameday broadcasts, as part of the station’s flagship coverage.
Zaslow joined “AM 790 The Ticket” in 2004 and has served as an on-air personality for the station for the last 13 years. This year marks Zaslow’s 10th as a part of the station’s Heat gameday broadcasts. Entercom South Florida SVP and market manager Keriann Worley says, “Jonathan Zaslow is a true Miami sports talent and an original employee of ‘790 The Ticket.’ We are thrilled to have him back for more passionate sports talk and lock him into our impressive weekday programming.”
Cumulus 2019 Q4 Net Revenue Down 7.7%; Same Station Net Revenue Dips 1.7%. Financial data for the full year and the fourth quarter of 2019 is reported by Cumulus Media. Net revenue in the fourth quarter of 2019 was $285.5 million, a decrease of 7.7% over the same period in 2018. However, on a same station basis, net revenue was down just 1.7%. For the full year of 2019, net revenue was $1.1 billion, down 2.4% from 2018. On a same station basis, net revenue – excluding political – of $1,103.2 million was up 1.4% from 2018. Cumulus Media president and CEO Mary Berner comments, “I am very proud of the company’s 2019 results. On a same station basis, our team has now delivered the second year in a row of revenue growth and, excluding the impact of political, the third year in a row of Adjusted EBITDA growth. This performance was driven in large
part by the industry-leading growth of our digital businesses and active cost management across our platforms. Additionally, we made strong progress against our financial goals during the year, paying down $220 million of debt with cash from operations and highly accretive divestitures, reducing net leverage to 4.7x. This year’s results reflect the success of our consistent focus on key strategies to create value for our investors. Despite a choppy environment and an expected political headwind, fourth quarter revenue finished in-line with the pacing we shared during our last earnings call, and, with some slight favorability on expenses, we delivered Adjusted EBITDA that was somewhat better than we had indicated. As we move into the new year, we are further expanding our delivery of compelling audio experiences and digital offerings that connect and support our advertisers and listeners. And, we are optimistic about 2020 and our continuing ability to drive strong operating and financial performance while aggressively reducing net leverage to below 4.0x.”
Round Three of January PPM’s Released. The third of four rounds of ratings data from Nielsen Audio’s January 2020 PPM survey has been released for 12 markets including: Portland, Charlotte, San Antonio, Sacramento, Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, and Columbus. Nielsen’s January 2020 survey period covered January 2 – 29. Some of the spoken-word stations that performed well in January (weekly, 6+ AQH share) coming off the challenging Holiday survey were: Alpha Media’s KXL-FM, Portland, which
racked up a half share increase to finish the January survey with a 5.1 share and the #5 market rank. Entercom’s WBT-AM/FM, Charlotte adds 1.4 shares to post a 4.9 share and the #8 rank. iHeartMedia’s WOAI, San Antonio adds four-tenths to finish the month at a 5.7 share and standing steady at the #3 rank. In Sacramento, iHeartMedia’s KFBK gains an amazing 2.7 shares to leap into a tie for the #1 rank in the market with an 8.6 share. Bonneville’s KSL-FM, Salt Lake City adds a full share to end the survey with a 5.0 share and the #7 rank in the market. You can see all of the 6+ numbers from subscribing stations here. Meanwhile, check out TALKERS managing editor Mike Kinosian’s Ratings Takeaways here.
Wednesday’s Democratic Debate and the Presidential Race Top News/Talk Stories for Week of February 17-21. The Democratic candidates debate in Las Vegas and the presidential race tied for the most-talked-about stories on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was President Trump’s post-impeachment pardons and appointments. Coming in at #3 was the Department of Justice turmoil and the related Roger Stone sentencing, followed by the covid-19 pandemic, U.S.-China relations, and the deadly flu season tied at #4. The Talkers TenTM is a weekly chart of the top stories and people discusses 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.
Diana Boyce Completes Disney Princess 5K. Pictured above left is Diana Boyce, wife of Salem Radio Network SVP of spoken word formats Phil Boyce, braving the chilly temps and drizzle in Orlando this morning (2/21) while finishing the annual Disney Princess 5K race. The race is part of Disney Half Marathon Weekend that benefits some 17 charities. Pictured at right is Salem Radio Network talk show host Mike Gallagher cheering Diana on.
AWM/F Announce 2020 Board. The Alliance for Women in Media and its Foundation (AWM/F) announce their 2020 National Board of Directors. Joining the AWM Board are: Katina Arnold, vice president, corporate communications, ESPN; Abby Auerbach, executive vice president, chief communications officer, TVB; Michelle Ray, executive director, The Walter Kaitz Foundation; Sandra Rice, senior vice president, outreach and strategic partnerships, Center for Talent Innovation; and Esther Mireya Tejeda, senior vice president, head of corporate communications & PR, Entercom. Officers of the board have been announced as Keisha Sutton-James, chair, vice president & CEO, Sutton Button Productions LLC, serving as chair; Heather Cohen, executive vice president, The Weiss Agency, serving as incoming chair; Christine Travaglini, president, Katz Radio Group, serving as immediate past chair; Josie Thomas, CBS, serving as treasurer; and Annie Howell, co-founder and managing partner,
The Punch Point Group, serving as incoming treasurer. The following individuals will serve as Directors at Large of AWM: Joyce Fitch, legal consultant; Abby Greensfelder, founder & CEO, Everywoman Studios; Brenda Hetrick, chief revenue officer, Matrix Solutions; Jinny Laderer, co-founder & CEO, vCreative; Meg LaVigne, president, LaVIGNE MEDIA; Kelly Perdomo, vice president, content, sports, entertainment, and partnership marketing, SiriusXM; and Katherine Wolfgang, head of public relations, CBC. The following individuals will serve as Directors at Large of AWMF: Deborah Parenti, publisher, RadioInk, RBR and TVBR; Rob Stoddard, SVP program network policy, NCTA – The Internet & Television Association; and Kristen Welch, chief financial officer, Illustrative Mathematics. AWM executive director Becky Brooks says, “The role of the AWM and Foundation boards is to lead our organizations and industry as we recognize, connect and educate women in radio, television and interactive media. We have a true working board. This year’s new directors have voiced their dedication to donating time and resources to take these organizations to the next level. We are thrilled to have these talented, accomplished women joining our leadership for the next two years.”
Music Radio News and Career Moves. In the Columbia, South Carolina market, programming pro Chris Connors joins Cumulus Media’s urban contemporary WLXC-FM “Kiss 103.1” as program director. Connors was most recently with Alpha Media’s Columbia cluster as operations manager. He says,
“We’ve already made ratings history in Columbia, and I’m very fortunate and extremely thankful to have the opportunity to do it again. Big thanks to John Dimick, Kenny Smoov, and Tammy O’Dell for entrusting me to lead the Columbia team. No need to pack or move; we’re ready on day one.”…..Nationally syndicated and WBLS-FM, New York afternoon drive host Deja Vu wraps up a month of celebration with the special, “The Deja Vu Show: Black History in Forward Motion,” being syndicated by ABC Audio. The commercial free, two-hour special celebrates the importance of African American representation in a variety of fields, including Broadway, film, TV and law. It features Deja Vu sitting down with iconic celebrities, artists, and influencers including: Will Packer, David Alan Grier, Celia Rose Gooding, Curtis “50 Cent” Jackson, and Isaac Wright Jr…..Cumulus Media’s Westwood One syndicated radio host Lon Helton was honored with the Tom Rivers Humanitarian Award at the Country Radio Seminar. This award – named for Tom Rivers, former WQYK PD and host of Westwood One holiday specials in the 1990s – recognizes an individual in the country radio industry who has given back to the community. Helton is one of the founders and advocates of the legendary country radiothon program, Country Cares For St. Jude Kids, that has raised almost $1 billion for St. Jude Children’s Research Hospital…..iHeartMedia announces that country star Blake Shelton is joining the lineup for the 2020 iHeartCountry Festival Presented by Capital One on Saturday, May 2 at the Frank Erwin Center in Austin. The seventh annual event will also feature performances from Dierks Bentley, Sam Hunt, Lady Antebellum, Dustin Lynch, Kelsea Ballerini, Kane Brown, Jon Pardi, and Chase Rice, plus Hot Country Knights, Bobby Bones, and more. The event will livestream exclusively on livexlive.com and broadcast live across iHeartMedia’s country radio stations in their local markets and at iHeartRadio.com.
Tuesday, February 18, 2020
Beasley Broadcast Group 2019 Q4 Net Revenue Dips 4.6%; Full Year Net Revenue Up 1.6%. In reporting 2019 fourth quarter financial results, Beasley Broadcast Group states that “the $3.5 million, or 4.6%, year-over-year decrease in net revenue during the three months ended December 31, 2019 reflects the cyclical impact of strong political advertising revenue recorded in the prior year period, partially offset by fourth quarter 2019 revenue increases in six of the company’s market clusters.” The decrease in operating income in Q4 reflects “the year-over-year decrease in station operating income, in addition to higher corporate expenses related to digital growth investments and a $12.4 million non-cash impairment charge related to Beasley’s AM stations in Boca Raton and Atlanta and a $1.3 million impairment loss on an investment, partially offset by a $17.1 million gain from land and tower sales during the period.” Net revenue for all of 2019 was $261.1 million, an increase of 1.6% over 2018. Beasley CEO Caroline Beasley says, “Fiscal year 2019 was an active and productive period for Beasley as we continued to make significant progress rolling
out our digital expansion and transformation initiatives across the company, while advancing our revenue diversification strategies and actively managing our local radio platform to drive long-term SOI growth and margin expansion. Beasley’s fourth quarter net revenue decline of $3.5 million primarily reflects a $2.8 million reduction in political advertising revenue compared to the prior year period. While we were not able to fully offset the cyclical impact of political revenue, the fourth quarter radio advertising environment remained healthy with six of our markets generating year-over-year revenue increases. By opportunistically divesting several non-core land and tower assets in 2019, Beasley generated a 31% increase in full year free cash flow over the prior year period, which enabled us to complete several strategic growth and diversification investments in our broadcast, digital, technology and esports platforms throughout the year. Our fourth quarter results highlight the value we have begun extracting from our digital transformation strategy investments. In the fourth quarter, Beasley generated digital revenue growth of approximately 44% on a year-over-year basis, with digital now accounting for 9.2% of total revenue, compared to 6.1% of total revenue in the prior year period. With our focus on quality content production and consumer engagement, we are growing audience share across our digital platforms while delivering multi-platform turnkey marketing solutions to advertisers and brands. Overall, we are pleased with the momentum and trajectory of our digital initiatives and look forward to this growth trend continuing in 2020.”
Jim Louth Rises to APD at Boston’s ‘98.5 The Sports Hub.’ Eleven-year station programming staffer Jim Louth is promoted from midday show executive producer to assistant program director at Beasley Media Group’s sports talker WBZ-FM, Boston “98.5 The Sports Hub.” During his career, Louth produced New England Patriots broadcasts for 16 seasons, spent six years as a producer at sports talk WSKO-AM, Providence “790 The Score,” and two years at ESPN in Bristol. The APD position opened after Rick Radzik was promoted to program director following Mike Thomas’ departure for WMVP-AM, Chicago “ESPN 1000.” Radzik says, “Jim has been with the station since day one. He’s done a great job, not only producing our midday programming, but also overseeing our New England Patriots game day broadcasts over the past decade. His institutional knowledge of the Sports Hub’s operation and relationships with the staff make Jim the perfect choice for the APD position.”
TALKERS News Notes. A new report from marketing firm Claritas and sales force Market Enginuity concludes that “podcast advertising campaigns result in an average 10 times lift relative to print, digital, and TV.” The white paper reports that “new marketing tools are allowing advertisers and marketers to gain deeper insights into the effectiveness of podcast channels. In November 2018, Claritas acquired the omni-channel attribution platform Barometric and has since collected and reported on campaign results across more than 100 advertisers, which drove a deeper analysis in the channel’s effectiveness as compared to non-podcast channels. This analysis, across industries such as consumer packaged goods, automotive, direct brands, finance and insurance, shows that while non-podcast channels historically result in a 2.6% lift in conversions – with common channels such as digital display at 1.1% lift, print at 2.4% and linear TV at 3.1% – podcast channels are driving 34% lift on average.” See more here…..Cadence13 announces an exclusive partnership with The Dolan Twins – brothers Ethan and Grayson Dolan – for the launch of their first-ever podcast, “Deeper with The Dolan Twins.” The Dolan Twins have a combined following of over fifty million followers across all platforms, have won five Teen Choice Awards in three years, and earned a spot on Time magazine’s list of Most Influential Teens. The weekly podcast debuts on Tuesday, February 25…..Cumulus Media’s Westwood One News has once again won the Golden Mike Award from the Southern California Radio Television News Association. Pictured at right is Los Angeles-based correspondent Jim Roope, who traveled to Normandy for the 75th anniversary of the D-Day invasion. This is the fifth consecutive year that Westwood One News and Roope have won the Golden Mike award.
Presidential Race, Covid-19 Pandemic/Locust Plague, DOJ Contoversy, Boy Scouts File for Bankruptcy, and U.S. vs Huawei Among Top News/Talk Stories Yesterday (2/17). The Democrats battling to take on President Trump in November and tomorrow night’s debate in Las Vegas; the coronavirus pandemic and the locust plague that affected East Africa moves to China; the controversy over Attorney General William Barr’s administration of the Justice Department and accusations it’s reducing Roger Stone’s sentencing recommendation under pressure from President Trump; under financial pressure from sex abuse lawsuits, the Boy Scouts of America files for bankruptcy; and the U.S.’s battle against China’s Huawei over its 5G platform were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Girls Night Out. A great conversation between longtime radio pals took place along the waterway in Palm Beach Gardens, Florida as Compass Media Networks senior director of news/talk affiliate sales Susan O’Connell visited TALKERS South during her travels through the Sunshine State. Pictured (l-r): Former ABC Radio Networks executive Gloria Briggs, O’ Connell, TALKERS publisher Michael Harrison, and author/professor, Bernadette Duncan.
Music Radio News and Career Moves. Detroit’s “Mojo in the Morning” show is celebrating its 20th anniversary at iHeartMedia’s WKQI “Channel 955” with a special broadcast on Friday (2/21). The program, hosted by Mojo
and Spike with co-host Shannon, will be broadcast live on WKQI as well as sister stations WSNX, Muskegon, Michigan and WVKS-FM, Toledo “92.5 KISS-FM.” Also appearing on the special broadcast will be original cast members Sara Fouracre, Chad Mitchell, and Eric Harthen. iHeartMedia Detroit SVP of programming Tony Travatto says, “‘Mojo in the Morning’ is the Mount Rushmore of Detroit radio. The talented cast and show are continually striving to do bigger and better things than before and have evolved over the years to connect even more with the Detroit community. ‘Mojo in the Morning’ is one of the most accessible, cutting-edge, and successful shows in Detroit and we’re honored to have it on our program lineup.”
Wednesday, March 13, 2019
Entercom Renews Limbaugh for 15 News/Talk Stations. The Premiere Networks-syndicated Rush Limbaugh show will continue to air on 15 Entercom-owned news/talk stations after the two companies agreed to a long-term contract extension. Stations that will continue to air the Rush Limbaugh show include WPHT, Philadelphia; WBT, Charlotte; KXNT, Las Vegas; WBEN-AM, Buffalo; and WTIC, Hartford. Entercom president of programming Pat Paxton states, “Listeners nationwide across Entercom’s talk stations continue to engage with Rush’s signature take on the media and political landscape. For over 30 years, Rush Limbaugh has been a driving force on air and we look forward to our continued partnership.”
Salem Media Group Q4 2018 Total Revenue Flat; Same Station Net Revenue Up 2%. Reporting fourth quarter 2018 and full year 2018 financial data, Salem Media Group says its Q4 total revenue was consistent at $67.2 million. In the broadcast division, net broadcast revenue was basically flat at $51.1 million, however same station net broadcast revenue increased 1.9% to $50.3 million. For the full year of 2018, total revenue decreased 0.4% to $262.8 million from $263.7 million in 2017. In the broadcast division, net broadcast revenue increased 1.2% and same station net broadcast revenue was up 1.8% to $195.2 million from $191.7 million in 2017.
iHeartMedia December 2018 Revenue Dips 5.3%. In its most recent 8-K filing with the Securities Exchange Commission, iHeartMedia reports revenue of $326 million for the month of December 2018, down 5.3% from the November figure of $343.7 million. In November 2018, the company claimed $104.2 million in net income. That category was flat in December, with no net income nor loss posted. The company has been filing the monthly statements since the petition for Chapter 11 reorganization was filed last spring.
iHeartMedia Launches ‘Podcast Channel’ on WSAN-AM, Allentown. The Allentown, Pennsylvania AM signal flips from Spanish sports to a new podcast format. iHeartMedia Allentown is calling it “The iHeartPodcast Channel on AM 1470,” using it to showcase “today’s most popular podcasts” and “allow listeners to discover them through the radio. The new station will be a one-stop shop for a variety of podcasts including trendy shows such as the fan-favorites ‘Stuff You Should Know,’ ‘Part Time Genius,’ ‘Broken Harts,’ and many more. iHeartMedia Allentown SVP of programming Craig Stevens says, “The iHeartPodcast Channel is a carefully curated experience that brings you the most creative stories from over 25,000 podcasts available on our free iHeartRadio app. From true crime to history, comedy to food, we’ll cover dozens of topics every week.”
iHeartMedia Executives Named UJA-Federation’s Music Visionaries of the Year. Four of iHeartMedia’s leaders – Bob Pittman, Rich Bressler, John Sykes, and Tom Poleman – have been named UJA-Federation of New York’s Music Visionaries of the Year. They will be honored for their outstanding professional and philanthropic achievements at the annual Music Visionary of the Year Award Luncheon on June 11, 2019 in New York City. Daniel Glass, president & founder of Glassnote Entertainment Group and vice chair of UJA’s Entertainment, Media & Communications Division, says, “Bob, Rich, John, and Tom are true powerhouses who are reshaping the entertainment industry through ingenuity and innovation. While devoted to redefining the way millions of people consume music, they are equally committed to social responsibility and improving millions of lives – and it’s why they’re so deserving of this honor.” The Music Visionary Luncheon attracts more than 600 of the most respected and well-regarded executives and an A-list roster of talent. Past performers include: Eddie Vedder and Stone Gossard, Leon Bridges, Alessia Cara, Alicia Keys, Bruno Mars, Justin Timberlake, Adele, Mariah Carey, Jay-Z, The Weeknd, Jennifer Hudson, and many more. Funds raised at the event are shared across various UJA efforts, ranging from its Music for Youth initiative, which enables and supports quality children’s music education programming, to its annual campaign, which supports the most vulnerable in our community.
Tips on Podcast Advertising from Westwood One’s Tim Sabean. In this week’s Westwood One blog, senior vice president of digital content Tim Sabean offers pointers for achieving podcast advertising success. He says the following tips will lead to greater effectiveness of the podcast read. First, be transparent. Start at the beginning and explain why the ad is being done in the first place. Hosts should share their backstory on why they wanted to promote the company in the ad. Giving context will help the listener follow the host’s journey and will magnify credibility and connection. Second, be real. Personalize the relationship with the brand. Don’t solely rely on copy points. Hosts should use the product or service and then talk about what the experience is like. Including real-life reactions make ads more believable and prevent them from sounding soulless. And third, be direct. Make the call to action clear and memorable. For specific information like call to action, podcasts hosts should be sure that the verbiage is strong and direct. They should be repetitive so there is no room for error. Read the blog here.
iHeartMedia Names Region SVP’s of Programming. The company announces the promotion of two of its programmers to regional senior vice president of programming positions. First, Meg Stevens moves from her post as RSVP of programming for the Virginia-Carolina region (as well as PD for country WKKT, Charlotte) to region SVP of programming for the Atlanta region. In this new role, Stevens will also serve as program director for country WUBL, Atlanta. She says, “I’m very excited to join the incredible programming team in the Atlanta region. I look forward to the continued growth of their powerful brands. ‘94.9 The Bull’ is one of the premiere country
stations in the nation and I couldn’t be more excited to wake up every day and say, ‘HORNS UP!’ Taking over the RSVP of programming for the Virginia-Carolina region is Chadwick “A.J.” Hausknecht. He was most recently program director at iHeartMedia’s CHR WHQC “HITS 96.1” and adult hits WLKO “102.9 The Lake” in Charlotte. iHeartMedia Virginia-Carolina region president Dave Carwile says, “We are extremely pleased to have A.J. lead as region senior vice president of programming for the Virginia-Carolina region. A.J. has the experience and passion for talent coaching and developing extraordinary teams. I’ve worked with A.J. in this capacity before and he is a game changer. I am confident that he will make a strong impact and contribution to the Virginia-Carolina region’s ongoing success.”
TALKERS News Notes. Talk radio legend Howard Stern and publisher Simon & Schuster are releasing his third autobiographical book, titled, Howard Stern Comes Again, on May 14. The Sirius XM personality made the announcement on his show, saying, “For the last two years of my life, I’ve been involved in a project that has taken up almost every weekend, every vacation that we’ve been on. This is about my evolution and this is about my interviews. I started talking about the process and I started talking about my life and some of the things that have happened.”…..In Boston, afternoon news personality Josh Binswanger exits iHeartMedia’s all-news WBZ-AM where he was co-anchor. He’d been with the station – his second tour with the news outlet – since September of 2017…..The Arkansas Broadcasters Association is celebrating its 70th anniversary as the leading trade association for Arkansas Broadcasters. ABA executive director Luke Story says, “ABA has experienced exceptional growth and successes over the years. Moving forward, our focus will remain on offering the broadcasters of Arkansas the resources and education they need to stay at the forefront of the industry. We are excited to celebrate ‘70 years of Broadcasting Naturally’ at our convention, ARKCON this July.”…..Tribune Media shareholders voted on Tuesday (3/12) to accept the bid by Nexstar Media Group to acquire the television group with stations in 42 markets – that also owns news/talk WGN-AM, Chicago – for $6.4 billion. Tribune Media CEO Peter Kern states, “We’re extremely pleased with today’s vote. It confirms that our stockholders clearly recognize the significant value we expect to be delivered by this merger. We look forward to continuing our work with Nexstar to obtain the necessary regulatory approvals that will enable us to close this transaction later this year.” Nexstar owns no radio stations.
Raising a Talk Host’s Profile. Public relations pro Ryan McCormick offers some advice to talk radio hosts who want to raise their profile – whether in a local market or nationally. Check out his 10-point prescription that includes such tactics as charity involvement, use of PR pros, building media alliances, and more right here.
College Bribery Scandal, Trump-Russia Probe Status/Manafort Sentencing, NY State Trump Business Investigation, House Impeachment Chatter, Boeing 737 Max 8 Concerns, Clinton Email Matter Testimony, UK Brexit Chaos, Call for Google Breakup, NFL ‘Legal Tampering’ Activity, and NBA/NCAA Hoops Among Top News/Talk Stories Yesterday (3/12). The story of the college admissions bribery and test cheating scandal involving actresses Felicity Huffman, Lori Loughlin, and others; the status of the Robert Mueller-led investigation into possible connections between Trump campaign operatives and Russian agents and the related sentencing of former Trump campaign manager Paul Manafort; the investigation into Trump businesses by the State of New York; the talk of impeachment being batted down by House Speaker Nancy Pelosi; the flying public’s concern over the safety of the Boeing 737 Max 8; just-revealed testimony from former FBI attorney Lisa Page that the agency was directed by the Obama DOJ not to charge Hillary Clinton in the email server investigation; the political chaos in England after Theresa Mays’ latest Brexit plan is shot down; News Corp’s Rupert Murdoch calls for anti-trust action against Google; the signings reported during the NFL’s “legal tampering” period; and NBA and NCAA basketball 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. Programming pro Morgan Prue is named assistant program director and music director at Beasley Media Group’s classic hits WROR-FM, Boston. She was most recently APD at Entercom’s crosstown adult contemporary
WMJX “Magic 106.7.” Beasely notes that Prue has also served with iHeartMedia’s WLTW-FM, New York; programmed classic hits in her native Ottawa, Canada; and served with WPLJ-FM, New York. She says, “To say I’m thrilled to be working with [PD] Cadillac [Jack] again is an understatement. I’m looking forward to kicking some serious you know what in Boston with the Beasley team led by Mary Menna!”…..Travis Hill announces he’s exiting his role as marketing director at iHeartMedia’s Dallas station group to enter the real estate business full time. Taking over his role is Lili Villarreal, currently promotions director for KDMX and KDGE. Hill says that Taylor Ybarra will handle day-to-day promotions for KHKS and Vanessa Alvarado is handling day-to-day promotions for KEGL and KZPS.
Thursday, March 8, 2018
iHeartMedia and Lenders Buy a Little More Time. The deadline for the Forbearance Agreement signed on Sunday was last night at midnight. Prior to that deadline however, iHeartMedia and the Consenting Lenders agreed to extend the term of that Forbearance Agreement to next Monday (3/12) at midnight CT. iHeartMedia – seeking to find a long-term solution to its $20 billion debt problem – is past the grace period and, without the Forbearance Agreement, would be in default on a missed $106 million payment on 14% Senior Notes. That default would likely trigger bankruptcy for iHM, but clearly the group of senior creditors are trying to find a way to avoid putting the fate of the company in the hands of a bankruptcy judge. This extension leads some analysts to conclude that some progress is being made toward that end.
Entercom Releases Q4 2017 Financial News. This is the first quarterly report for Entercom Communications Corp. that includes results of the CBS RADIO stations. The merger closed on November 17, 2017. Remember that Entercom issued 101,407,494 Class A shares to former shareholders of CBS Corporation who participated in the exchange. Net revenue for Q4 2017 was $246.6 million, compared to $124.6 million in the fourth quarter of 2016. “Operating income for the quarter was a loss of $2.3 million, which was negatively impacted by $36 million of merger, restructuring, impairment and financing costs. This compared to operating income of $30 million in the fourth quarter of 2016…adjusted EBITDA for the quarter was $45 million, compared to $35.2 million in the fourth quarter of 2016.” The company reports that as of December 31, 2017, it had
outstanding $1.4 billion of senior debt under its credit facilities and $400 million in senior notes and $34.2 million in cash on hand. Entercom president and CEO David Field comments, “We are making excellent progress toward our goals of capitalizing on our transformational merger and building a truly outstanding media and entertainment company. As the country’s #1 creator of live, original, local audio content and with a premier collection of outstanding local radio stations, digital platforms and live events, we have the scale and capabilities to compete more effectively with other media for a larger share of ad dollars. We are off to a great start executing our game plan with important achievements in a number of areas including building a best-in-class leadership team and culture, growing our brands and ratings, executing our synergies, launching new sales tools and advocacy, and much more. We are very pleased with our progress and more excited than ever about the needle-moving opportunities ahead.”
Unsecured Creditors Challenge Cumulus Media’s Executive Bonus Structure. A group of Unsecured Creditors – the Official Committee of Unsecured Creditors of Cumulus Media – is formally objecting to Cumulus Media’s executive bonus program in a filing with the U.S. Bankruptcy Court. In the filing, the Committee says, “the Debtors seek authorization to pay millions of dollars in supplemental ‘incentive’ compensation to highly compensated senior executives during an expedited chapter 11 process that, if the Debtors prevail at confirmation, will result in the unsecured creditors of these estates receiving pennies on the dollar. These executives have already received millions in prepetition ‘incentive’ compensation payments (indeed, the Debtors’ CEO has already received over two million dollars in supplemental 2017 incentive payments and is scheduled to receive at least an additional [amount redacted] if the Motion is approved) and stand to benefit from a very robust Management Incentive Plan (the “MIP”) to be implemented upon the Debtors’ emergence from bankruptcy. Moreover, the Debtors seek authorization to implement not one, but two allegedly incentivizing and wholly overlapping programs that both contemplate quarterly cash payments payable upon achievement of the exact same targets and metrics in order to “properly incentivize” those members of management who already stand to gain a substantial economic benefit from obtaining confirmation of the plan and thus implementation of the MIP.” The Committee says the incentive program cannot be allowed and cites three aspects of the U.S. Bankruptcy code that it believes backs its case.
Morning Drive Talk Host Angie Austin Announces Distributor and Rep for New Show. Talk show host Angie Austin – who previously hosted the “Daybreak USA” program on USA Radio Network – has re-branded her program “The Angie Austin Show” and it’s set to be delivered to affiliate stations via Genesis Communications Network with The Show Must Go On! repping the program. Mike Opelka co-hosts the show that is delivered live from 6:00 am to 9:00 am ET. A presser says the show will debut in seven markets.
Judge Cites Lack of Evidence in Complaint Against WGAC, Augusta Talk Host Austin Rhodes. After a complaint from local businessman Joe Mullins suggesting that WGAC, Augusta, Georgia talk host Austin Rhodes’ words on his radio show caused him to become concerned for the safety of himself and his family, a judge has ruled that there is not enough evidence to suggest a crime may have been committed. According to a report by WJBF-TV, Mullins complained to authorities that Rhodes compared him to a snake on his February 27 broadcast and said, “Snakes have to be dispatched or killed.” The story notes that local police listened to a recording of the entire segment provided by Mullins but concluded that there was no direct threat to Mullins.
TALKERS News Notes. Rapid City, South Dakota has a new news/talk station as HomeSlice Media Group flips KKLS-AM/K248BT – both licensed to Rapid City – from classic hits to using syndicated programming. Shows on the station’s program schedule include: Dave Ramsey, Joe Pags, Westwood One’s Mark Levin, Jim Bohannon and Chris Plante, plus others. The schedule does not indicate a morning drive show, leaving open the possibility of a local program…..Entercom and PNC Bank partner to spotlight star high school lacrosse students in the Maryland community. Entercom sports talker WJZ-FM, Baltimore “105.7 The Fan” and its sister stations are taking part in the PNC Achievers program that identifies and recognizes outstanding female and male student lacrosse athletes from public and private schools across the state of Maryland for their success and leadership on and off the field. Entercom Baltimore SVP and market manager Tracy Brandys says, “At Entercom, giving back to our local communities is an important part of what we do and PNC Bank shares these values. We’re excited about this partnership that allows us to shine a light on high school athletes who display exemplary study habits, achieve excellent grades, are active volunteers in the community and mentor other students to help meet their respective goals.”…..University of Alabama Athletics and multi-media rights holder Learfield announce a five-year agreement with SummitMedia for the broadcaster to serve as the official radio home of the Crimson Tide Sports Network in Birmingham…..iHeartMedia’s alternative rock K248CU, Austin “ALT 97.5” signs a deal with MLB’s Houston Astros to serve as the ballclub’s official Austin affiliate. The station will carry all regular and post-season games.
Trump Tariffs Plan, Stormy Daniels Suit, Feds vs California, Trump Russia Investigation, Gun Control, North Korea-South Korea Talks, Russian Double Agent Poisoning, and NBA Action Among Top News/Talk Stories Yesterday (3/7). The Trump Administration’s plan for tariffs on foreign steel and aluminum and the related exit of economic adviser Gary Cohn; porn star Stormy Daniels’ suit for relief from confidentiality agreement with President Trump; Attorney General Jeff Sessions’ suit against California in the sanctuary matter; the investigation into possible connections between Trump campaign operatives and Russian agents; the debate over gun control and Florida’s bill to limit gun ownership to those 21 and over; the talks between North Korea and South Korea over the former’s nuclear program; the apparent poisoning of a former Russian double agent and his daughter in the U.K.; and NBA action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Cool Job Opportunity. Radio management pro Harvey Wells is looking for a multi-talented operations manager for the Mid-West Family Broadcasting cluster in Springfield, Illinois. He says, “If you know a great talk/mainstream rock/talent coach/radio person, I’m looking for an operations manager to partner with me in the fine state capital of Springfield, Illinois. This is not a ‘rookie’ position. Must be able to do an airshift as well.” Contact Harvey at: hwells@mwfbmedia.com.
Music Radio News and Career Moves. Chicago’s famed classic rocker “The Loop” isn’t going away completely. With Educational Media Foundation’s LMA of WLUP-FM (soon to have new calls WCKL-FM) to begin Saturday in advance of its purchase of the signal from Merlin Media, Cumulus Media is taking the “Loop” format (sans jocks) and moving it to the HD2 channel of alternative rock WKQX-FM. Of course, that station is also up for sale and it’s likely a buyer will swoop in on this Windy City signal sooner rather than later…..Beasley Media Group announces it is naming Jeff Kurkjian
the new morning drive co-host for its country outlet KCYE, Las Vegas “102.7 The Coyote.” Kurkjian, who was most recently morning host at Entercom’s hot AC WQAL, Cleveland “Q104,” is partnering with
Aimee Montgomery, who slides over to “The Coyote” from Beasley’s adult contemporary “Lite 101.5 FM.” Kurkjian says, “I am so excited to be part of the team at ‘102.7 The Coyote’ in Las Vegas. I can’t imagine doing anything but local radio. I’m looking forward to connecting every morning with the casino workers getting off third shift, the moms taking their kids to school and everyone in between. I am eager to get out and about in Las Vegas, especially coming from the frozen tundra of the Northeast!”…..iHeartMedia announces the addition of Eminem featuring Kehlani, plus N.E.R.D and G-Eazy to the program of previously announced performers for this Sunday evening’s 2018 iHeartRadio Music Awards…..Entercom’s classic rock KGON, Portland enters into a multi-year agreement with The Waterfront Blues Festival. Some of the highlights of the new partnership include the return of the festival to its original radio broadcast partner and the switch of KGON-HD2 to Waterfront Blues Radio – playing blues music all day. The festival takes place July 4 through 7 at Tom McCall Waterfront Park and this summer’s event marks the 31st anniversary of the festival…..Pictured below are staffers of Cumulus Media’s adult contemporary WMAS-FM, Springfield, Massachusetts and volunteers celebrating the final tally of the WMAS Radiothon benefitting the Children’s Miracle Network and Baystate Children’s Hospital. Vice president and market manager Craig Swimm says, “Extremely proud of the team as we wrap up this year’s 94.7 WMAS Radiothon — $245,367 raised over 2 days. We beat last year’s number and have raised more than $4.5 million for the Children’s Miracle Network since 2002.”