Tag: "free cash flow"

Tuesday, February 11, 2014

| February 11, 2014

entercomEntercom Revenue Down 2% in Q4; Dips 3% for 2013.  The 2013 fourth quarter numbers for Entercom are in and the company reports net revenue was down 2% on $99.6 million though adjusted net income per share was basically flat.  Also free cash flow increased by 2%.  For the full year of 2013, net revenue dipped 3%.  Though station expenses decreased slightlyfielddavid during the year, station operating income decreased by 8% to $125.8 million.  Entercom will hold a conference call with investors and analysts at 12:00 noon ET today (2/11).  President and CEO David Field says in a statement, “Entercom’s fourth quarter revenues declined 2% while revenues excluding political advertising posted a 2% increase.  2014 began on a solid note with January revenues up moderately over the prior year.  We are optimistic about 2014 performance based on improving sales capabilities and execution, strong ratings and meaningful local growth opportunities.”

beasley logoBeasley Broadcast Group to Work with Propel Marketing for Online Marketing.  In an effort to expand its online marketing, Beasley Broadcast Group announces it is engaging Propel Marketing to “assist Beasley’s local clients in building and expanding their online marketing opportunities and solutions.”  In a statement, Beasley says that Propel’s products and services include website and mobile site design, search engine optimization, lists and local directories, social media services and online reputation management.  It further states that the “agreement affords Beasley’s local account executives access to a robust portfolio of online marketing services.  Beasley’s relationship with Propel Marketing enhances the on-air and online advertising opportunities already available to existing and future clients, especially small businesses that typically do not have in-house resources to create and implement successful online marketing campaigns.  Propel Marketing will not only create and deliver online marketing solutions, but also provide a dedicated team of specialists to ensure that Beasley’s clients are fully leveraging Propel Marketing products.”  Beasley EVP and CFO Caroline Beasley states, “We are extremelybeasleycaroline excited by this relationship.  It gives us the ability to respond to any request a local advertiser may have that involves exploring a digital component.  The ability to combine radio’s powerful reach with Propel Marketing’s wide assortment of online products and services will greatly enhance a local advertising campaign.”  Newly appointed vice president of digital Stacey Sedbrook adds, “By integrating online marketing with their current radio marketing efforts our clients are able to both extend their audience reach and more efficiently target their messaging.  Beasley sales professionals remain the primary contact for our advertising customers.  Our goal remains helping local businesses build their brands and grow their revenue.  We can now offer integrated marketing solutions under the Beasley Broadcast brand allowing advertisers to streamline their marketing efforts with a trusted local partner.”

mckayjeffTALKERS Posts Part-Two Today of Three-Part Special (2/10-12) Spotlighting Danno Wolkoff and Envision Networks.  Like many people who go to college with a plan for what they want to do when they graduate, Danno Wolkoff went to Syracuse University with a goal of winding up in television production.  Fate, and the prodding from senior management at MJI Broadcasting instead sent him in the direction of sales and affiliate relations.  Wolkoff discovered he had a gift for sales, and doubled his income in one year.  It was through sales and affiliate relations work that he climbed the corporate ladder at MJI, expanding and growing their sales offices nationwide.  When Clearwolkoffdanno Channel acquired MJI and merged it into Premiere Radio Networks (now simply “Premiere Networks”), he became VP of affiliate relations.  However, it wasn’t long before he began to realize that the hands-on and creative approach he had at MJI wasn’t translating to the growth concepts and business model of Premiere and Clear Channel.  Wolkoff faced a career crossroads and would make a decision that would change his life and become an important source of programming and services for radio.  His vision was Envision Radio Networks — a highly successful and forward-thinking company that envisionnetworks newcreates over four-dozen content products and services for radio stations and media outlets nationwide, customizing solutions for clients, producers and affiliates.  It is a company literally founded after another syndication and programming company decided they had a good product that despite making money, didn’t make enough money for their bottom line.  What Wolkoff has accomplished in the span of just 10 years is inspiring and a textbook example of creating a force for productivity and jobs in an industry.  He took the biggest gamble of his life, grabbing a program and three people laid off by an established firm that would become his largest competitor, and growing an independent syndication empire serving over 1,500 radio stations with everything from prep services to music shows, local news and information to weekend talk shows.  His staff has grown over 20-fold in a decade to include an array of producers, salespeople and contract staffers researching, producing, creating and selling more than four-dozen products to radio stations in both the largest and smallest markets.  Now known simply as Envision Networks (they dropped the word “Radio” this past week – more on that later) continues to not only grow, embracing new technology and catering to those needs, but in the process has become an independent force in syndication.  In today’s installment, Wolkoff discusses exactly what it takes to build a formidable syndication firm from scratch and shares his view of the changing nature of the syndication business as well as radio in general.  In the words of Michael Harrison, “The emergence of special individuals like Danno Wolkoff is the force that propels an industry such as ours forward.  I’ve seen this movie many times before.  Danno is the kind of guy who has the makings of being a true giant 10 years down the pike, taking his place among the biggest of the big.”  To read part two of TALKERS special features correspondent Jeff McKay’s extensive profile “The Vision of Envision: The Rise of Radio Syndication Entrepreneur Danno Wolkoff and an Emerging Independent Powerhouse” please click here.  And if you missed part one published yesterday, read that here.

krasnymaxMax Krasny Joins CBS RADIO as VP/Sales and Strategic Alliances.  The former WestwoodOne EVP takes on the vice president, sales and strategic partnerships position with CBS RADIO’s Altitude Group division which focuses on helping brands connect with consumers using CBS RADIO stations, along with CBS Television stations and their digital properties, as well as CBS’s outdoor assets.  Max Krasny reports to the executive leadership of the Altitude Group: Rich Lobel, executive vice president and CMO, and Sue McNamara, senior vice president, sales.  Lobel states, “Max is a seasoned pro who brings a marketing acumen to a client’s business, and knows how to deliver creative excellence that makes brands stand out and get noticed.  No one has a better portfolio of local assets under one roof than CBS including: radio, television, out-of-home, live events, websites, mobile and social apps.”

wls-am logoFCC Socks WLS-AM, Chicago with $44,000 Fine.  The Forfeiture Order comes from the station failing to identify the sponsor of programming that aired back in 2009.  The content was in the form of long-form shows – two two-hour programs, a one-hour show – plus 90-second and 15-second spots and promotional announcements paid for by Workers Independent News.  During the two-week period in question, the FCC determined that 11 announcements were aired without proper sponsor identification and issued a Notice of Apparent Liability for $44,000 – 11 violations at $4,000 per.  Cumulus argued that the commission had in the past reduced fines to a one-time violation amount and that it should just have to pay $4,000.  But the commission ruled that no such precedent had been set and that the forfeiture amounts in failure to identify sponsorships cases reflect the unique aspects of each case and thus the commission considers this case to be comprised of 11 violations, not one.

clarkjackFormer MLB Slugger and Talk Host Jack Clark Apologizes to Albert Pujols.  During a discussion on WGNU, St. Louis, sports talk host and former MLB slugger Jack Clark alleged that former Cardinals player Albert Pujols used performance enhancing drugs during his time in St. Louis.  Pujols threatened to sue and the station ended the contract between Clark’s co-host Kevin Slaten and Clark, cancelling their show.  The station also issued an apology to Pujols.  But for a time Clark maintained his assertion about Pujols and even challenged Pujols to a live debate – an invitation Pujols’ attorney refused.  Now, Clark issues the aforementioned apology and Pujols agrees to withdraw his lawsuit.

farmjournalmedia“Market Rally” Readies for March Launch.  What is said to be the first-ever, long-form agricultural commodity markets-focused national radio program will debut next month (3/10). That is when Farm Journal Media launches Chip Flory-hosted “Market Rally.”  The one-hour weekday program will air at 2:00 pm (CT), immediately following the close of major commodity markets.  Farm Journal Broadcast Division senior vice president Brian Conrady remarks that a “really solid group of stations” is already committed to air “Market Rally” and he anticipates “several more” before the program debuts.  “The show fills a programming void for many stations,” Conrady comments.  “It wraps their day’s farm coverage with a new, information-packed, entertaining program.  It is all about markets, which everyone knows farmers cannot get enough of.”  Flory notes, “We have a long list of guest analysts anxious to share their market perspective with the audience each day.  We will take listener questions/comments via phone, text, and social media.  Our goal is to remove as much confusion as possible from this increasingly volatile marketing environment.”  Flory remains editorial director of Farm Journal’s “Pro Farmer” newsletter and he will host “Market Rally” from FJB’s new studio in Cedar Falls, Iowa.

wmalbeatlesThe Beatles Played in Washington, Too!  As America remembers The Beatles’ arrival in this country 50 years ago this week, much of the attention is focused on the New York-based national broadcast on the “Ed Sullivan Show.”  But Cumulus Media’s WMAL, Washington knows that the group’s first public concert was in Washington, DC.  Pictured here in the WMAL studios are Fox News Channel chief Washington correspondent – and noted Beatles expert – James Rosen (center) and “Mornings on the Mall” co-hosts Brian Wilson (left) and Larry O’Connor (right) after being on the air for Tuesday’s celebration of The Beatles’ first concert on U.S. soil – in the Nation’s Capital.  Among other guests remembering The Beatles on the program were: The Beach BoysMike Love, Rolling Stone Magazine’s David Wild, Herman’s Hermits singer Peter Noone, and local Fox 5 anchor (and former “Good Morning America” weather anchor) Tony Perkins, who discussed his love for the Beatles as an African-American youth growing up in D.C.

wsouhunterOdds & Sods.  Baltimore Orioles broadcaster Jim Hunter recently visited his alma mater Seton Hall University and spoke with student staffers at his old college radio station – WSOU-FM – about making it in sports broadcasting today.  Hunter, pictured here (third from the right) surrounded by students, stressed to them the importance of preparation, noting that the need to do your homework doesn’t end when you graduate from college.  He also shared tips on improving on-air performance and how to tell listeners a good story…..New York City broadcasting legend John Gambling returned to the radio recently, if only briefly, to speak on WABC, New York with Frank Morano on his Sunday “Morning with Morano” program.  Morano and Gambling talked about the state of radio today, the tradition of the Gamblings and covering weather events…..For the 18th consecutive year, ESPN Radio is providing comprehensive coverage of NBA All-Star 2014, culminating with an exclusive radio broadcast of the NBA All-Star Game on Sunday, February 16.  Kevin Calabro will describe the action throughout the weekend with analyst Jon Barry.  They will be joined by studio analysts Marc Kestecher and P.J. Carlesimo and reporters Marc Stein and Shelley Smith.

brentmegSCRABrent & Meg Honored for Keeping Studio City, California Free of Dog Poop.  Although they are heard all over the world on TalkersRadio (weekdays 12:00 noon – 2:00 pm PT), the experimental talk station that lives on this website, the dynamic husband/wife radio duo of Brent & Meg (Brent Seltzer and Meg McDonald) believe in the concept of cleaning up your own backyard as well as tackling the issues of greater humanity.  This past Saturday evening (2/8) they were honored by some of LA’s top movers and shakers for their community volunteer work in regularly picking up dog poop (no kidding) found on the streets of LA’s Studio City – the neighborhood from which their daily show emanates (as well as their home).  The gala appreciation dinner took place at Carla’s Café on the CBS Studio Center lot.  Pictured here are (from l-r): State Assemblymember, 46th District, Adrin Nazarian; Los Angeles City Councilmember, 2nd District, Paul Krekorian; Meg McDonald (Brent & Meg Show on TalkersRadio); Los Angeles Mayor Eric Garcetti; and Brent Seltzer (Brent & Meg Show on Talkers Radio).  Upon learning of Brent & Meg receiving this honor, TALKERS magazine’s sister publication RadioInfo’s music editor/director Duane Doobie issued the statement: “I seldom listen to talk radio, but when I do, I prefer Brent & Meg.  True, like most talk show hosts, they are full of sh*t… but in a helpful, solutions-oriented way.”

ObamaCare Criticism, Hillary Clinton in 2016, Immigration Reform, Winter Olympics, Winter Weather, and Shirley Temple Black Dies Among Top News/Talk Stories Yesterday (2/10).  Scrutiny of the implementation and effects of the Affordable Care Act; the release of new documents about the Clintons and Hillary’s possible run for president in 2016; the move in Washington to pass immigration reform legislation; the Winter Olympics games in Sochi, Russia; a new winter storm reportedly heading for the South and East this week; and the death of former child star and U.S. Ambassador Shirley Temple Black were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.

Wednesday, February 5, 2014

| February 5, 2014

bennettseatedsmallStill Pioneering After All These Years – 74-Year-Old Alex Bennett Is Building New Platform and Inventing “New” Talk Format.  Some view their own age and/or that of others as a roadblock – a barrier to achieving an untold number of additional hopes and dreams.  To others, age – more correctly – is merely a meaningless number with no attached strings or restrictions.  It would have been quite easy and understandable for radio legend Alex Bennett to take leave and retreat from the business in which he has been an integral part for several decades. After all, the legendary broadcaster was 73-years-old when Sirius XM unceremoniously pink-slipped him last June after more than nine years of service at the satcaster (he turned 74 two months ago).  Notwithstanding an imposing and lengthy list of accomplishments and vitae, which the native Californian could trumpet as an entree to retirement, he has become an entrepreneur with “Alex Bennett’s Great American Broadcasts” being the centerpiece of his novel take on talk radio.  Bennett is innovatively and opportunistically using Skype to create “citizen panels” of up to 10 callers per clip interacting with him in on-air conversation at a time.  To learn more about this creative venture and the ongoing adventures of one of radio’s truly cooler characters, read TALKERS managing editor Mike Kinosian’s feature piece posted today (2/5) in its entirety by clicking here.

siriusxmSiriusXM Reports Revenue Up 12% in 2013.  During yesterday’s Q4 conference call, SiriusXM CEO Jim Meyer told investors and analysts that the company delivered on all of its guidance for 2013 and enjoyed a revenue spike of 12% for the year plus saw its subscriber base rise to 25.5 million.  Meyer, like Mel Karmazin before him, is touting the company’s dedication to increasing free cash flow and, to that end, Meyer reports free cash flow was up 31% to $927 million for the year.  Looking back onmeyerjim 2013 Meyer underscored the importance of deals that get SiriusXM radios into new cars and stated the satellite service is now available in 71% of cars sold in the United States.  Meyer also spoke about the company’s strategy with regard to the “connected vehicle,” saying, “We’ve acquired a smart team of technology engineers who are accelerating development of our overall connected car architecture, including the combination of satellite receivers with LTE hardware, a strategy that should also yield benefits to our existing audio business…We expect connected vehicle services to deliver close to $100 million of revenue this year, and we expect to grow this at strong double-digit rates over the next many years.  We are in the process of fully integrating the CV business into SiriusXM, and its financial results are embedded in our guidance today.”  Thanks to Seeking Alpha for the conference call transcript.  Members can check out the entire conference here.

missanellimikeGreater Media Suspends WPEN, Philadelphia’s Mike Missanelli for Gay Slurs.  This story goes to show how even a seasoned pro like Philadelphia sports talk host Mike Missanelli can make the mistake of engaging with a critic online.  Greater Media has suspended afternoon personality Mike Missanelli after he called a critic a “latent homosexual” in an email exchange.  The station issued the following statement, “We are aware of the email communications between Mike and one of his listeners.  This individual has been harassing Mike by email for several years, which is cause for concern, and we are working with Mike to try to identify this person and stop the abuse.  However, that does not excuse Mike’s conduct.  The content of his emails is unacceptable and does not reflect our values as a company.  Mike has been suspended and understands that future similar conduct will not be tolerated.”  The story broke after the email exchange was posted on Deadspin.com.

beasley logoBeasley Broadcast Group Beefs Up Digital Division.  In announcing the hiring of three new regional digital directors, Beasley reveals its dedication to digital sales efforts.  In a statement, vice president of digital Stacey Sedbrook speaks about the expectations after bringing Eddie Thorpe, Adam Meltzer and Carolyn Cope aboard.  “The formation of this team will surely be the foundation of our success.  Having the right people on my team is as important to me as having the right products and services to sell.  Eddie, Adam and Carolyn were hand selectedsedbrookstacey for their talents, capabilities and, most importantly, their nimble thinking.  Our objective is to drive revenues for our advertisers, especially those smaller businesses and growing brands in the communities we serve.  To achieve this goal, our regional digital directors will assist Beasley’s local market sales teams in creating enhanced advertising campaigns that include digital products and services tailored to the specific needs of our existing and new clients.”  Eddie Thorpe comes to Beasley from the Tampa Bay Times where he was senior digital director.  He’s responsible for the Miami and Fort Myers-Naples markets.  Adam Meltzer is responsible for the Philadelphia and Wilmington, Delaware markets.  He most recently was multimedia sales manager for Wicked Local.  Carolyn Cope also served with Wicked Local as senior digital account executive of major accounts and is now overseeing the Augusta, Georgia; Fayetteville, North Carolina; and Eastern North Carolina markets (Greenville-New Bern-Jacksonville).  Sedbrook is responsible for the company’s Las Vegas group.

klattlenKlatt Yields the Winning Run.  In this case, that is a good thing as The Winning Run is the name of the full-service consultancy that Len Klatt is opening.  The former Premiere Networks senior vice president/director of research is gearing the new undertaking – which will have Los Angeles and New York City offices – to national media companies and talent, programming services and advertisers.  Among his clients are Sound Mind, Compass Media Marketing, Big Shoes Productions, Reel World, and The Blaze Radio Network.  “Len continues to do the best job industry wide in both interpreting audience numbers and explaining them to clients interested in exploring the value premise of audience engagement on radio, online, and in digital media,” comments Sound Mind president Kraig Kitchin, Premiere’s former president/chief operating officer.  “We are fortunate to have his talents for the benefit of our sponsors.”  Klatt remarks, “It is not just about columns and numbers, it’s about how they can be used to shape the story in such a way to advance my clients’ vision.  With The Winning Run, I want to cover all the bases.” Before the nearly two decades he spent at Premiere, Klatt was Westwood One‘s New York City-based director of research.  He began his media research career at Media Buying Services International.

learfieldsports logoLearfield Adds to Footprint with Nelligan Acquisition.  One of the leaders in college sports play-by-play rights is adding 41 schools to its roster with the acquisition of Nelligan Sports MarketingLearfield Sports will now hold the multi-media rights to 92 schools, which puts its total above that of its fiercest competitor – IMG Sports, which holds the rights to 79 schools.  Learfield president and CEO Greg Brown tells SportsBusinessDaily, “In some cases, this will open up new markets for us.  In other cases, it will further fortify what we’re doing…Early on in our discussions with Providence [Learfield owner Providence Equity Partners], we identified some strategic opportunities that would be productive for our business.  Nelligan is consistent with the business we’re already in.  This was right down the middle of the fairway for us.”  Nelligan Sports founder T.J. Nelligan will remain with the new company in a leadership role.  He comments that he doesn’t expect attrition with this merger.

wtoplogoOdds & Sods.  Hubbard Radio’s WTOP, Washington is helping the National Multiple Sclerosis Society by naming it the station’s WTOP Charity of the Month recipient for February 2014.  Through the program the MS Society will receive more than $20,000 worth of in-kind contributions to support Multiple Sclerosis awareness and programs, including 64 promotional announcements on WTOP and sister station Federal News Radio.  Additional content and exposure for MS Society will be included on WTOP.com and FederalNewsRadio.com throughout the entire month of February…..Tribune Company’s WGN, Chicago announces the next in its “Blackhawks Live” series when forwards Kris Versteeg and Brandon Saad take part in the live event at the Old Town Pour House in suburban Oakbrook on February 24.  The event includes a photo op with the players, an autographed photo and dinner, tax and tip.  “Blackhawks Live” is a series of one-hour radio broadcasts hosted over dinner throughout the year featuring current Blackhawks players, legends and management.  Blackhawks radio broadcasters John Wiedeman and Troy Murray host the event that includes a question-and-answer format between the hosts and the featured Blackhawks guests…..The New Jersey Broadcasters Association has created PSAs for member stations reminding drivers in the Garden State that it’s illegal to drive a vehicle that hasn’t had the snow and ice properly cleared off it.  Interested stations can visit www.njba.com for information…..The Radio Television Digital News Association names WBIR-TV, Knoxville news director Christy Moreno to its board of directors, representing Region 8, which includes Kentucky, Tennessee, North Carolina, South Carolina and West Virginia.

ww1sochiWestwoodOne to Present Exclusive Coverage of Winter Olympics.  When the 2014 Olympic Winter Games commence in Sochi, Russia on Friday, WestwoodOne will be the exclusive network for audio coverage.  WestwoodOne’s programing will include: shortform coverage Olympic updates three times an hour, 24/7, from February 7- February 23; longform coverage – “Today in Sochi” including two hours of longform coverage for 17 consecutive nights; coverage of all U.S. Olympic Hockey (Men’s and Women’s) plus the gold medal games in Men’s and Women’s hockey regardless of who is playing.

loeschtheviewDana Loesch Visits ‘The View.’  Conservative talk media figure Dana Loesch – who just entered national syndication for her daily talk radio show via Radio America – appeared on ABC TV’s “The View” on Monday in her stead as a host on Glenn Beck’s TheBlaze where she hosts a daily, 5:00 pm program.  Pictured here (center) between the program’s Jenny McCarthy (left) and Sherri Shepherd (right), Loesch spoke about her conversion from a progressive liberal to her current conservative philosophy and fielded questions from the four co-hosts.

Obama Administration Splits with Some Democrats, Philip Seymour Hoffman Death/Heroin Use in America, Hillary in 2016, Immigration Legislation/Amnesty Component, ObamaCare Criticism, Financial Markets Activity, and Sochi Olympics Troubles Among Top News/Talk Stories Yesterday (2/4).  The reported rift between Democrats on Capitol Hill and the Obama Administration on some issues; the aftermath of the death of actor Philip Seymour Hoffman and the light it’s shed on heroin abuse in America; the prospect of Hillary Clinton running for president in 2016; the proposed immigration legislation working its way through Congress and the possibility of amnesty for current illegals; ongoing scrutiny of the implementation of the Affordable Care Act; activity on the U.S. and world financial markets; and reports of the problems Russia is facing getting Sochi ready for the Winter Olympics were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.