Tag: "John Catsimatidis"

Monday, March 5, 2018

iHeartMedia Gets Breathing Room to Settle Debt Issue.  Industry watchers were expecting iHeartMedia to file for Chapter 11 bankruptcy protection over the weekend as the default on a missed $103 million payment on 14% Senior Notes was about to kick in.  That didn’t happen and iHeart announces that yesterday (3/4) it “and certain lenders party thereto (the ‘Consenting Lenders’) entered into a Forbearance Agreement (the ‘Forbearance Agreement’), with respect to the Credit Agreement, dated as of May 13, 2008, as amended and restated as of February 23, 2011 (as further amended or supplemented from time to time, the ‘Credit Agreement’), among iHeartCommunications, as the parent borrower, the subsidiary co-borrowers and foreign subsidiary revolving borrowers party thereto, iHeartMedia Capital I, LLC, as a guarantor, Citibank, N.A., as administrative agent, swing line lender and letter of credit issuer, and the other lenders from time to time party thereto.  The Consenting Lenders constitute the lenders required under the Credit Agreement to grant a forbearance.  Pursuant to the Forbearance Agreement, the Consenting Lenders agreed to temporarily forbear from accelerating the obligations under the Credit Agreement or otherwise exercising any rights or remedies thereunder as a result of any actual or prospective event of default under Section 8.01(e) of the Credit Agreement resulting from iHeartCommunications’ failure to make an interest payment beyond the applicable grace period with respect to its 14.00% Senior Notes due 2021 that was originally due on February 1, 2018.  The forbearance became effective upon all parties’ execution thereof and will terminate immediately and automatically upon the earliest to occur of (i) March 7, 2018 at 11:59 p.m. Central time and (ii) an event of default under the Credit Agreement other than those that resulted in the entry into the Forbearance Agreement (the ‘Forbearance Period’).”

Erick Erickson Signs New Deal with WSB, Atlanta.  Afternoon drive personality Erick Erickson has signed a new contract with Cox Media Group news/talk WSB-AM/WSBB-FM, Atlanta to continue his work with the station through 2020.  Erickson joined the station in 2011 and moved into a prime daypart in less than one year.  WSB director of branding and programming Pete Spriggs states, “We are excited to have Erick as part of our radio family for the long term.  He came into radio having never expected to be on radio and has thrived.  The contacts in his phone are a ‘Who’s Who’ of newsmakers and power brokers.  Atlanta is genuinely listening to the most connected man in radio.”  In addition to hosting “Atlanta’s Evening News with Erick Erickson,” weeknights from 5:00 pm to 7:00 pm, he also provides political analysis for “Atlanta’s Morning News” and occasionally fills in for WSB’s Herman Cain.  Erickson says, “I fell into radio by accident, and it has been fun to really move from being a blogger and TV pundit into the role of talk radio host.  These last couple of years were not at all what I expected, but I get up every day excited to keep Atlanta entertained and informed with what is happening locally, nationally, and around the globe.”

Entercom Officially Announces Launch of ’97.3 The Machine’ in San Diego; Kevin Klein to Host Morning Drive.  Last week, TALKERS magazine reported Entercom’s plans for former CHR KEGY, San Diego – to turn it into a hot talk/sports hybrid with former XEPRS sports talker Dan Sileo in middays and the KISW, Seattle-based “The Men’s Room” show in afternoon drive.  Now, Entercom sends out an official presser announcing former alternative KITS, San Francisco personality Kevin Klein will be morning drive host, effective March 29.  Until that time, the station will air rebroadcasts of “The Men’s Room” in mornings.  As previously reported, the station will be the flagship for San Diego Padres baseball.  Entercom says the station will present a “unique mix of compelling personalities, comedy, sports and curated classic rock music…evenings and weekends when not broadcasting Padres baseball, ‘97.3 The Machine’ will provide music fans in San Diego with a true classic rock curated playlist ‘That Rocks,’ framed by entertaining comedy.”

Author Suing Sid Rosenberg and WFAN for Fraud.   Today’s New York Post is reporting that author Joseph DeBlasi is suing WABC, New York talk show host Sid Rosenberg and WFAN, New York for $20 million.  DeBlasi alleges in his complaint that Rosenberg was paid $5,000 to get DeBlasi interviews on the radio to promote his book, Polarized: Sex, Lies and Family Betrayal.  Rosenberg’s lawyer says the allegation is a lie and that Rosenberg was never given any money.  DeBlasi’s complaint states that the June 2014 deal was supposed to get DeBlasi on Geraldo Rivera’s program on WABC.  It further states that after Rosenberg attempted to get him the interview, DeBlasi learned that the deal with Rosenberg was illegal, violating payola laws.  DeBlasi did appear on WFAN three times when Rosenberg was filling in on the morning show.

‘The Conservative Cartel’ Now Syndicated by USA Radio.  Beginning today (3/5), “The Conservative Cartel” – co-hosted by Matt Locke and Chris X – is being syndicated by USA Radio.  The Fort Worth-based program airs live from 10:00 am to 12:00 noon ET daily.  The program continues to be distributed via TheBlaze Radio Network for weekends.  The program will debut in 15-plus markets.  USA Radio general manager Janet Bro says, “We’re extremely excited to announce the addition of ‘The Conservative Cartel’ to the daily lineup of shows available from USA Radio.  Matt Locke and Chris X are the perfect addition to syndicated radio and the USA Radio family.”

WBEN, Buffalo Airing 12 Hours of Talk About School Safety and Guns.  Calling it “#12Voicesin12Hours,” WBEN, Buffalo program director Tim Wenger says in a blog post that today’s 6:00 am to 6:00 pm broadcast addressing school safety and guns may “make you uncomfortable at times…But to advance change, meaningful and helpful change, you need to understand those who disagree with you and hear them out.”  Wenger says, “The hard part about this ‘conversation’ is that while most people want to have it, most walk away from it as soon as ideas are presented that go against their own personal thoughts and beliefs on the issues.  Most ‘cable news’ conversations go ‘ugly’ in a hurry and simply build a brick wall between two warring sides.  Unless that changes, nothing changes…this broadcast is, by design, not laden with politicians who are looking for a spotlight.  But it will, in the end, include some thoughts from some willing members of our Congressional delegation who may well be charged with advancing legislation that could impact us all.”  Wenger notes that each hour of the broadcast will be saved as a podcast for listeners to check out later.

TALKERS News Notes. In New York, Salem Media Group is launching a news weekly program featuring John Catsimatidis called “Cats At Night” on WNYM “AM 970 The Answer.”  The show debuts on Wednesday (3/7) and airs from 5:00 pm to 6:00 pm.  Catsimatidis also hosts a Sunday morning interview program called “The Cats Roundtable” that airs on WNYM and six other stations.  Catsimatidis says, “I love doing radio.  It’s the most enjoyable hour of my week.  I am excited about expanding my radio presence to drive time with ‘Cats at Night’ and the opportunity to share my views on what’s really going on in New York and the world.  My thanks to Jerry Crowley and his team at WNYM for their ongoing support.”…..WPGG, Atlantic City morning personality Harry Hurley tells TALKERS magazine that he recently had the pleasure of interviewing Atlantic County resident Helen Turner, who will turn 111 on April 1.  Hurley says he reached out to Atlantic County executive Dennis Levinson live, on the air requesting he make April 1, 2018 Helen Turner Day and he agreed.  Turner is also a huge fan of FOX News Channel star Tucker Carlson.  Hurley reached out to Carlson to see if he would announce Turner’s birthday on FNC and provide an autographed photo for her and he also readily agreed…..WTMJ, Milwaukee’s WTMJ Cares “Game Night for Stars and Stripes Honor Flight” recently raised a total of $54,758 to fund WTMJ Honor Flights for 150 veterans to see their memorial in Washington, DC.  The unique partnership with the NBA‘s Milwaukee Bucks featured a pre-game party at historic Turner Hall where guests met Vietnam Veterans.  After the party, the group enjoyed the Bucks game against the Washington Wizards.  The event was the finale of a three-week on-air campaign led by WTMJ Radio afternoon host, John Mercure.  Mercure’s “WTMJ Cares” fundraising project told stories of the service of Vietnam Veterans in the area. To complete the fundraising, WTMJ held a radiothon where WTMJ listeners donated $32,758 in three hours…..TribLive.com is reporting that the new owners of KQV, Pittsburgh hope to restore the all-news format that aired on the station prior to the previous owner’s shutting it down and selling it.  Robert and Ashley Stevens – principals of Broadcast Communications Inc. – are paying $55,000 for the station and its assets.  Stevens tells the news outlet, “We would like to be able to do the news.  I would like to be able to do it as a news station very similar to the way it was.  We just need to make sure we can do it in a way that would be financially feasible.”…..Northpine.com is reporting that WRRD, Milwaukee majority owner Michael Crute has entered into a deal with Good Karma Broadcasting to lease WTTN, Columbus, Wisconsin (Madison market) in order to air the “Resistance Radio” progressive talk format currently airing on WRRD.  WTTN’s primary signal is northeast of Madison but Crute has applied for an FM translator at 92.7 that would cover much of Madison.  Crute also has a construction permit for a 250-watt translator at 101.7 in the Milwaukee market.

Trump Tariffs/Trade War Talk, Trump Admires Xi Jinping, NRA Membership Spikes/Gun Control Issues, Russian Election Hacking, Sunday Night’s Oscars Awards, and NBA Action Among Top News/Talk Stories Over the Weekend.  Reactions to President Trump’s plan to impose tariffs on imported steel and aluminum and the related issue of trade wars; President Trump’s comments about Chinese president Xi Jinping’s elimination of term limits for his position and suggestion that the U.S. should do the same; the NRA reports a spike in new memberships and the related issue of gun control measures; the allegations of Russian hackers targeting U.S. elections; Sunday night’s Academy Awards ceremony; and NBA action were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Music Radio News and Career Moves. After last week’s departure of afternoon drive personality Cara Carriveau from Hubbard Radio’s adult contemporary WSHE, Chicago, the company announces the new afternoon team and several other air talent moves.  Former FOX TV Chicago personality Jenny Milkowski, a.k.a. Jenny Milk, is teaming up with Jay Styles to host the 2:00 pm to 7:00 pm program.  Styles moves from his role as the Chicago producer of the “Brooke & Jubal Morning Show” on WSHE.  Filling his shoes there is evening jock Robb Rose.  His 7:00 pm to 12:00 midnight shift is now being hosted by station weekend personality Brian Middleton…..After moving country KIIX from the 96.1 frequency in Spokane to KZFS-AM/K257FX, iHeartMedia launches new alternative rock outlet “ALT 96.1.”  The station is airing Premiere Networks’ Los Angeles-based “The Woody Show” in morning drive…..The nationally syndicated Tino Cochino program is airing in evenings on Alpha Media’s CHR WNGY, Peoria “G 102.3.”  Cochino comments, “I’ve been a fan of the ‘G’ brand from the beginning.  Alpha took a different, much needed approach and it’s clearly working.  To partner our show with ‘G 102.3’ is beyond exciting to say the least!  I appreciate the opportunity and look forward to extending our brand in the Peoria market.”.….iHeartMedia announces Taylor Swift will present the world premiere of her new video for the hit single “Delicate” at the 2018 iHeartRadio Music Awards this Sunday (3/11).  The event will simulcast live on TBS, TNT and truTV at 8:00 pm ET in addition to airing on numerous iHeartMedia radio stations…..The sale of four radio stations from MTS Broadcasting to Draper Media closes.  Draper acquires Maryland stations country WAAI-FM, Hurlock; oldies WTDK-FM, Federalsburg; adult standards WCEM-AM, Cambridge; and adult contemporary WCEM-FM, Cambridge for $700,000.  Greg Guy of Patrick Communications was the exclusive broker…..Premiere Networks and Viacom’s CMT announce a multi-year extension of their deal that syndicates CMT personality Cody Alan’s “CMT After MidNite” country music show.  As part of the deal, CMT and Premiere Networks will continue to collaborate and develop programs and events for multiple platforms.

PPM Analysis: Rhythmic CHR.  Managing editor Mike Kinosian presents a look at the performances of radio stations based on data from Nielsen Audio’s January 2018 PPM survey, today focusing on rhythmic CHR.  In this report, Kinosian compares 6+ share fluctuations from the Holiday 2017 survey to January 2018, January 2017 to January 2018, and more.  See the whole report here.