Entercom Reports a Flat Q3. Entercom Communications reports its third quarter revenue figures were down 2% to $100.4 million but CEO David Field stated in a conference call that when taking out the political dollars, the company’s revenue was basically flat compared to the third quarter of 2010. Last year’s big political spending in the fourth quarter has this year’s Q4 pacing down some 5%. Field also noted that recent flips of FMs to sports – in Boston with WMKK-FM and in San Francisco with KBWF-FM – have hurt the immediate bottom line but will have a positive effect in time. FM is clearly where Entercom has its bets placed for the future as Field said AM-only revenue – not including simulcasts – make up less than 6% of the company’s revenue.
Cox Media Group Sells Connecticut AMs to Sacred Heart University. This transaction, when considering Entercom’s statement about its AM-only revenue in the previous story, makes industry watchers really begin to question the value of smaller market AM stations. Cox Media Group announces it will sell WSTC, Stamford and WNLK, Norwalk, Connecticut to Sacred Heart University but continue to own its FM music-formatted properties in the market. No price for the two AMs was announced but Sacred Heart will begin operating the stations under an LMA on Monday, November 5 with a closing expected in the first quarter of 2012. Sacred Heart owns WSHU-FM in Fairfield, Connecticut and seems very intent on continuing service to the communities as it takes over the stations. WSHU-FM general manager George Lombardi says, “As a public radio station, we consider ourselves to be a community resource, and we always look for ways to increase the service we provide our community. We are thrilled about this new opportunity, as we can now serve Norwalk, Stamford and Greenwich with an expanded, more reliable broadcast signal than we ever had before and by bringing our award-winning local reporting, insightful news and talk, and programs. WSHU has been deeply rooted in Fairfield County for 30 years, and we look forward to expanding our services in lower Fairfield County.” Local talk host Lisa Wexler will do her last broadcast on Friday, November 4 and as the station coverts to a non-commercial operation, the commercial syndicated programming will disappear as well. It’s being estimated some 10 staffers will be let go from the stations.
Merlin Media’s WWWN, Chicago Makes Jeff McKinney Midday Anchor. Since the firing of Dave Williams at Merlin Media’s FM News 101.1 in Chicago, Lise Dominique had been filling in at the anchor position. Now, Chicago Radio and Media reports Dominique moves to weekends and fill in and Jeff McKinney takes over the slot. McKinney worked for years as a news anchor at WCCO, Minneapolis. Also, it’s being reported that senior AE Karen Moss – with the station (when it was WKQX) since 1993 – has left her position.
Red Zebra Renews with Georgetown University for Basketball Play-By-Play. Red Zebra Broadcasting and Georgetown University agree to terms to have Hoyas Men’s Basketball air on its WTEM, Washington and WSPZ, Bethesda, Maryland sports talk stations. Hoyas play-by-play voice Rich Chvotkin continues behind the mic for his 39th season.
2012 Presidential Race/Cain Harassment Allegations, Euro Zone Debt Crisis, Financial Markets Activity, and ‘OWS’ Movement Among Top News/Talk Stories Yesterday (11/1). The allegations of sexual harassment being leveled against GOP candidate Herman Cain and other aspects of the 2012 presidential race, the problems solving the Euro Zone debt crisis and its effects on the world financial markets, and the ‘OWS’ movement were some of the most-talked-about stories on news/talk radio yesterday.