Tag: "Jay Bailey"

Thursday, November 7, 2019

| November 7, 2019

iHeartMedia Third Quarter Revenue Rises 3%. Revenue for iHeartMedia, Inc. – whose shares became listed on the NASDAQ on July 18 of this year – was $948.3 million, an increase of 3% compared to the same period in 2018.  Digital revenue increased 33.4%.  Looking at the first three quarters of 2019, revenue was $2.66 billion – an increase of 2.8% over the same period in 2018.  The company says, “Our traditional radio business, which is comprised of our Broadcast and Networks revenue streams, is stable and growing.  Broadcast revenue declined by 0.6% on a reported basis and increased 0.4% excluding the impact of political revenue, while Networks grew 9.2% year-over-year driven primarily by growth in our Total Traffic & Weather network.  Networks also grew sequentially by almost 300 basis points over the second quarter. Our growth was also driven by our Digital revenue stream, which grew 33.4%.  Digital revenue growth was primarily driven by growth in podcasting, as well as other digital revenue.  Audio & Media Services declined 14.3% on a reported basis and increased by 0.2% excluding the impact of political revenue.  Political revenue primarily impacts our Broadcast and Audio & Media Services revenue, and therefore these revenue streams tend to show greater variance in non-political years.  Sponsorships increased by 4.4% year-over-year. Importantly, all of our revenue streams grew year-over-year excluding the impact of political revenue, demonstrating the continued momentum in our business.”

Beasley Broadcast Group Reports Q3 Net Income Up 1.5%. Net income for Beasley Broadcast Group’s 2019 third quarter was $66.1 million, an increase of 1.5% over the same period in 2018 and the company says that “reflects increased revenue in the Company’s Philadelphia, Detroit, Boston, Charlotte, Fayetteville, and Wilmington market clusters. Net revenue for the three months ended September 30, 2019 was comparable to net revenue for the same period in 2018 at the Company’s other market clusters.”  For the first nine months of 2019, net income was $189.5 million, an increase of 4.1% over the same nine-month period in 2018.  Station Operating Income increased 12.7% year-over-year in the third quarter of 2019.  The company says the year-over-year increase is primarily attributable to higher revenue in the 2019 third quarter and lower station operating expenses related to $1.7 million of non-recurring bad debt expense that was recorded in the comparable 2018 period, partially offset by higher expenses at recently acquired stations.  Beasley CEO Caroline Beasley states, “Throughout the third quarter, we continued to advance our revenue diversification initiatives and actively manage our local radio broadcasting and digital platforms, while implementing our operating disciplines at recently acquired stations to drive SOI growth and margin expansion.  Record third quarter net revenue of $66.1 million was driven by the strength of our station clusters in four of our top five largest revenue markets, as well as contributions from recent acquisitions and more than offset the approximate $0.9 million of combined political, spectrum and United States Traffic Network traffic revenue recorded in the 2018 third quarter, which did not recur in the 2019 third quarter…Third quarter results also began to reflect financial contributions related to our new and expanding digital development and diversification initiatives. Beasley generated a year-over-year increase in digital revenue of approximately 37%, with digital now accounting for 7.4% of total revenue, compared to 5.4% of total revenue in the prior year period. Going forward, we remain committed to increasing digital share of total revenue as we continue to aggressively roll out our digital transformation strategy across the organization.”

Urban One Third Quarter Net Revenue Basically Flat at $111.1 Million.  While third quarter net revenue was up just 0.3%, Urban One’s broadcast and digital operating income was up 3.2% on $44.8 million, compared to the same period in 2018.  Operating income was approximately $32.5 million for the three months ended September 30, 2019, compared to approximately $32.1 million for the same period in 2018.  Urban One CEO and president Alfred Liggins III says, “During the third quarter we completed the sale of WDMK to Beasley Broadcasting, as a result of which our cash position improved, and net leverage was reduced. On a same station basis, our third quarter radio revenues were up 4.2%, and I was pleased that we were able to grow the Radio Broadcasting segment Adjusted EBITDA by 6.6%.  Same station core radio revenues, excluding political, are currently pacing down low single digits for the fourth quarter.  Cable Television advertising was robust in the quarter, up 7.8%. While digital revenues decreased by 6.4%, we were able to post significant Adjusted EBITDA growth in that segment as a result of improved cost control.  Overall, we were able to grow Adjusted EBITDA by 5.8% for the quarter, and I believe we are well positioned to achieve our strategic goals for the year, with Adjusted EBITDA in the range of $138-$140 million.”

Nielsen Announces Plans to Split into Two Companies.  Along with its third quarter financial results, Nielsen Holdings Plc is announcing that it will “separate the Global Media and Global Connect businesses through a spin-off of the Global Connect business.”  Global Media is the audience measurement division and Global Connect is the consumer data division.  CEO David Kenny says, “We are pleased with our third quarter results.  Both Media and Connect revenues were ahead of our expectations, reflecting strong execution as well as our focus on driving faster, bolder decisions to enhance value for Nielsen and for our clients.  We also announced today the conclusion of our strategic review and our decision to separate Global Media and Global Connect.  As we look forward, we remain focused on executing on our growth strategies and positioning both businesses to create value for our shareholders.”  The strategic review was led by chairman of the board of directors James Attwood, who says, “Nielsen has two strong and global franchises — Global Media and Global Connect.  Following an extensive review process, which included an in-depth analysis of our businesses, strategies and market opportunities, the Board concluded that separating into two independent, publicly traded companies is the best path to position each business for long term success and maximize value creation.  As independent companies, both Nielsen — the Global Media business — and the new company consisting of Global Connect will enjoy added flexibility and further strengthen their paths toward a new phase of growth, productivity and industry leadership.”

Q3 2019 Flat for Saga Communications. Third quarter net revenue for Saga Communications, Inc. was $31.3 million, basically flat compared to 2018’s Q3 figure of $31.7 million.  Station operating expense increased $171 thousand to $23.6 million and operating income decreased $520 thousand to $4.8 million compared to $5.3 million for the same period in 2018.  Net Income decreased $361 thousand to $3.3 million for the quarter.  On a same-station basis, third quarter net revenue decreased $1.4 million to $30.3 million.  Looking at the first three quarters of 2019, net income was flat with the same period in 2018 at $9.4 million.  Net revenue decreased $610 thousand to $91.3 million.  On a same-station basis for the nine-month period, net revenue decreased $3.8 million to $88.1 million.  Saga reports having $42.3 million in cash on hand as of November 4, 2019.  The company’s total bank debt was $10 million as of the end of the quarter.

PPM Analysis: Public Radio News/Talk. TALKERS magazine managing editor Mike Kinosian presents a look at the performances of radio stations based on data from Nielsen Audio’s October PPM survey, today focusing on the public radio news/talk format.  More than 60% of public radio news/talk stations were up (weekly 6+ AQH share) compared to the September 2019 survey.  Year-over-year, the results were split about 50/50, with half the stations up and half down. Four high-performing public outlets ranked #1 in their respective markets in October.  They were: WAMU-FM, Washington; KPBS-FM, San Diego; KOPB-FM, Portland; and KUT-FM, Austin.  Perennially top-ranked public outlet KQED, San Francisco ceded the #1 spot to Entercom’s all-news KCBS-AM, San Francisco in October.  See Mike Kinosian’s entire report here.

Sun Broadcast Group to Rep All of Envision Networks’ Products in 2020. This agreement between Sun Broadcast Group and Envision Networks is an expanded sales representation agreement that now includes all Envision Networks shows and services.  Envision Networks CEO and president Danno Wolkoff says, “We started with Sun Broadcast Group selling all of our Spanish inventory and began adding more general market advertising to their networks as we grew.  SBG’s ability to maximize our lineups and create networks with such high advertiser demand fueled the development of many new shows and services.  It’s only fitting that Jay [Bailey], Julio [Aponte] and the Sun team now represent all of Envision Networks’ advertising sales in 2020 … we’re thrilled to be working together.”

TALKERS News Notes. Greenville, South Carolina news/talk WYRD-FM “106.3 WORD” adds a translator to its broadcast.  Now carrying the station’s signal is W270AM, Anderson, South Carolina at 101.5 FM. Anderson is about 25 miles southwest of Greenville.  Entercom Greenville-Spartanburg SVP and market manager Steve Sinicropi says, “We’re happy to meet the demand from listeners and advertisers to expand 106.3 WORD’s over-the-air signal to Anderson County using 101.5 FM.  Anderson is a fast-growing market that we are looking forward to serving with 106.3 WORD’s programming on all of our platforms.”…..Kentucky sports talk host Matt Jones will be off his WLAP-AM, Lexington-based program after U.S. Senate Majority Leader Mitch McConnell filed a complaint with the Federal Elections Commission.  Jones has announced he’s exploring the possibility of running as a Democrat for McConnell’s senate seat.  The iHeartMedia station asked Jones to step away from the program after the complaint was issued.  Jones was relieved of his duties at WLEX-TV, Lexington in July after he made his political ambitions known…..Cumulus Media’s Westwood One is presenting a news special titled, “30 Years After the Fall: The Legacy of the Berlin Wall,” that explores the 30th anniversary of the fall of the Berlin Wall.  Correspondent Chas Henry hosts the program as he reports from the site where the Berlin Wall once stood.  He talks to scholars about why the wall was constructed and with residents who watched it come down.  The half-hour program airs Thanksgiving weekend.  Stations interested can contact Jim Jones at jimjones@westwoodone.com or 202-840-7933 for more information.

Impeachment Process, Ukraine Affair, 2020 Presidential Race, Tuesday’s Election Results, Mormon Family Massacre, China-Hong Kong Tensions, New HIV Strain, and OK Boomer Meme Among Top News/Talk Stories Yesterday (11/6). The impeachment process against President Trump; the testimony about President Trump’s alleged quid pro quo offer to Ukraine’s Volodymyr Zelensky; the Democrats vying to challenge President Trump in 2020; Democratic victories in Virginia and Kentucky in Tuesday’s elections; the massacre of nine members of a Mormon family by drug cartel members in Mexico; the ongoing tensions between Hong Kong and China; the discovery of a new strain of HIV; and the controversy over the “Ok Boomer” meme 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. In the Fresno market, iHeartMedia names Angel “Visa” Jarquin program director for hip hop KBOS “B95.”  He comes to “B95” from his most recent position with the company’s CHR KDON, Monterey where he was afternoon drive personality and assistant program director.   iHeartMedia SVP of programming for Central California and Nevada Tony Matteo says, “Angel’s incredible track record of success and his experience in the format make him an ideal fit to spearhead this market’s leading brand in Fresno.  We’re excited to bring his energy to the ‘B95’ team.”…..JVC Media announces the addition of Long Island radio personality Bill “The Wiseman” Wise as morning host at WPTY-HD2/W251BY, Patchogue, New York “Oldies 98.1”  JVC New York general manager Bruce Shepard says, “The Wiseman is a great addition to our staff.  He will not only be on the airwaves of ‘Oldies 98.1,’ he will also work with the team to develop new and exciting live events and concerts for ‘Oldies 98.1.’  I am thrilled to have him on board.”…..Country outlet WYCD, Detroit  hosted last night’s “Stars and Strings Presented by RAM Trucks Built to Serve” event that raised more than $25,000 for Folds of Honor, the organization that provides educational scholarships to spouses and children of America’s fallen and disabled service members. Entercom has now raised more than $275,000 to support the cause.  The RADIO.COM event featured performances by Keith Urban, Maren Morris, Lady Antebellum, Kelsea Ballerini, Jon Pardi, Brett Young, and Ryan Hurd…..iHeartMedia’s rock WJRR, Cocoa Beach, Florida announces the all-star lineup for its “Earthday Birthday Number 27” music festival taking place on Saturday, April 18, 2020 at the Central Florida Fairgrounds and Orlando Amphitheater.  Performing will be: Shinedown, Halestorm, Theory Of A Deadman, Beartooth, Fozzy, Dirty Honey, New Years Day, Crobot, and Dinosaur Pile-Up, with more to be announced…..Cox Media Group classic hits WSRV, Atlanta “97.1 The River” will celebrate its 14th birthday with “The River’s Rockin’ Birthday Bash Presents: Journey with Pretenders” on Thursday, August 13 at Cellairis Amphitheatre at Lakewood in Atlanta.  Station director of branding and programming Chris Eagan says, “We can’t wait to celebrate The River’s 14th birthday with our awesome fans.  Journey and Pretenders will definitely put on an unbelievable show to help us party on August 13!”

Thursday, October 6, 2011

| October 6, 2011

iHeartRadio to Invade American Living Rooms.  In an innovative development that significantly bolsters traditional radio programming’s digital distribution potential, Clear Channel’s expanded deal with Microsoft to include its iHeartRadio in the Xbox LIVE service could put CC stations into the homes of millions of Americans.  Clear Channel says this is an expansion of its multi-year deal with Microsoft that integrates iHeartRadio on Windows Phone 7 and brought the recent two-day iHeartRadio music festival into homes exclusively on the Xbox 360.  Beginning this winter it will work this way: The New iHeartRadio will be available for free to Xbox LIVE Gold members.  Through this new agreement, Gold members who have Kinect for Xbox 360 can use the product’s revolutionary sensor to experience an entertainment first: the ability to control digital radio in their living room using their voice and body.  Gold members who have Xbox 360, but do not have Kinect, can operate the New iHeartRadio using their controller.  Regardless of whether they have Kinect or not, all Xbox 360 Gold members will have access to the New iHeartRadio’s features, including more than 800 of the nation’s most popular live broadcast and digital-only radio stations from 150 cities, plus custom stations with more songs, better music intelligence and more user control.  The deal will also give users access to social features through CC’s deal with Facebook.  Clear Channel CEO John Hogan tells TALKERS, “Clear Channel is committed to innovation and deep social integration.  We want to continually deliver new experiences that consumers have never seen before – like the recent launch of the New iHeartRadio, which combines broadcast and digital-only stations and user-created stations in one service for the first time.  The New iHeartRadio’s integration with the Xbox 360 enables Kinect users to control digital radio in their living room using just their voice and body.  There is nothing else like it on the market and it’s another example of how we are committed to being wherever our listeners are with the programming and services they want and expect.”

Financial Expert Charles Payne to Launch National Radio Show Via Sun Broadcast Group.  Charles Payne is well known to viewers of Fox Business Network and Fox News Channel as well as to KFI, Los Angeles where he’s hosted a Saturday afternoon program.  Now, Payne partners with Sun Broadcast Group to begin a nationally syndicated two-hour financial talk show airing from 5:00 pm to 7:00 pm daily starting October 17.  “Payne Nation with Charles Payne” will emanate from Fox studios in New York.  Chad Wilkinson is named executive producer, Gabe Hobbs and Jim Robinson are aboard in a consulting capacity and the show will feature the voice talents of Edd Hall.  Sun CEO and founder Jay Bailey states, “We’re very excited to welcome Charles to the Sun Broadcast lineup.  We believe the industry is ready for an uplifting, positive financial show that will provide real answers for real people in this turbulent time in our nation.”  Payne says, “Everyone asks me how I am going to be different from other hosts out there, and I tell them that I am simply going to be real.  No scare tactics.  I’m not going to sugarcoat anything in fact I go right at the issues by digging beneath the surface, seeking facts, relying on history and connecting all the dots for real assessments and real solutions.”

Michigan Talk Host Michael Patrick Shiels Scores Exclusive Perspective of Airline Passenger Arrest.  WJIM, Lansing-based talk show host Michael Patrick Shiels happened to be returning from Amsterdam to Detroit when a man on the Delta plane began ranting about a hijacking.  The man was quickly restrained by air marshals.  Shiels tells TALKERS, “While observing from up close, I discreetly used the e-mail function of Delta’s in-flight entertainment system to send e-mails and texts to my producer and other media outlets.  The result was an exclusive story for my radio network and a press gaggle waiting for me when I emerged from the aircraft, resulting in national publicity on the major TV networks.”  Shiels says the man appeared to be American and in his 30s.  He says many passengers became agitated since it was an Amsterdam to Detroit flight that the infamous “underwear bomber” Umar Farouk Abdulmutallab allegedly tried to blow up on Christmas Day 2009.

Paul Finebaum Gets Favorable Ruling in Legal Tussle with Cumulus.  Regionally syndicated and WJOX-FM, Birmingham-based sports talk host Paul Finebaum was successful in getting his civil suit against Citadel – now Cumulus – returned to state court in Alabama.  Federal judge L. Scott Coogler ruled Cumulus was not able to prove the dispute went above the $75,000 threshold to make it a federal civil suit.  Legal experts say Finebaum stands a better chance in state court due to the legal standards.  Finebaum has two suits filed against Cumulus: one in which Citadel agreed to bankruptcy reorganization without his consent and the other that he was coerced into amending his contract and that Citadel violated its deal with him by manipulating revenue for his program away from him.

KNBR, San Francisco Host Ralph Barbieri Comes Out with Parkinson’s Diagnosis.  In a story in the San Francisco Chronicle, KNBR sports talk host Ralph Barbieri – co-host of “The Razor and Mr. T” alongside Tom Tolbert – confesses to having been diagnosed with Parkinson’s Disease in 2002 and telling no one except Tolbert until now.  Barbieri tells the paper he decided to reveal his diagnosis now since he is coming to the end of his contract and wanted to be honest as he and Cumulus negotiate a new deal.  He tells the paper, “If I am to continue at KNBR, I’d like to start with all our cards on the table, face-up.  I’ve gotten to know Lew Dickey a little bit, and my gut feeling was that he could deal with my situation at an honorable level, so I gave him a call and told him everything.  He let me know that KNBR wants me back.  He didn’t say on what terms, but the fact that he didn’t view the Parkinson’s as a red flag, that was a huge relief to me.”

Premiere Networks Scores Large Market Add for Glenn Beck: Phoenix.  Clear Channel’s KFYI, Phoenix agrees to add the Glenn Beck show to its daily program schedule in the 7:00 pm to 10:00 pm time slot bumping Talk Radio Network’s Michael Savage from the slot.  Clear Channel Phoenix director of programming and operations Smokey Rivers states, “Glenn has a sizeable and loyal local following.   His unique and stimulating perspectives will be a welcome addition to the station.”

WROK, Rockford-Based Michael Koolidge Show Names New Producer.  Michael Koolidge’s regionally and independently syndicated talk show is based out of Cumulus-owned WROK, Rockford, Illinois and syndicated to WRHL, Rochelle, Illinois and WLBK, DeKalb, Illinois.  Koolidge announces he brings on Natalie Zee Fenwick as his program’s first full-time producer.  “Thanks specifically to our outstanding advertiser support over the last year, we can afford to officially create our first bona fide job.  Even though it’s just a single job, we’re proud to join the ranks of ‘job creators’ of America.  I’ve had a rotation of great part-time producers and interns over the years, but we’re finally in a position where we’re ready to hire a regular producer.  And we’re thrilled that we found Natalie.”  Koolidge’s business model – serving as an independent contractor to regional radio stations – is one the industry is likely to see more of as companies and stations seek quality local or regional talent without taking on the expenses of traditional employees.  Koolidge’s highly rated program is one industry watchers are keeping an eye on.

Talk Host Jim Walsh and KFYR, Bismarck Part Company.  It’s only been two weeks since talk personality Jim Walsh returned to Clear Channel’s KFYR, Bismarck – a station he worked at in 2003 and 2004 – to host the 3:00 pm to 5:00 pm program formerly held by Scott Bachmeier.  Not sure what happened there but Walsh cryptically tells TALKERS, “I have stepped down from the afternoon talk show at KFYR, Bismarck by mutual consent.  I’m still there part-time, at least for the time being.  I’m currently exploring my options and can be reached at 701-226-8449.”  Bachmeier had exited the full-time shift to concentrate on non-radio work but the station lists him as host of the time slot – at least for now.

Occupy Wall Street, Steve Jobs Passes, 2012 GOP Candidates and Obama Jobs Plan Among Top News/Talk Stories Yesterday (10/5).  The growing ‘Occupy Wall Street’ movement, the death of Apple innovator Steve Jobs, the Republican candidates for president in 2012 and President Obama’s job creation plan were some of the most-talked-about stories on news/talk radio yesterday according to ongoing research from TALKERS.

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