Tag: "Media Management Group"
Arbitron Shareholders Approve Acquisition by Nielsen Holdings N.V. At yesterday’s special meeting of stockholders, Arbitron’s shareholders voted to approve the acquisition of the company by Nielsen Holdings N.V. with 98.99% of the shares voting in favor of the agreement and plan of merger. These shares represented approximately 77.11% of total outstanding shares of Arbitron common stock as of the March 8, 2013 record date for the Special Meeting. As previously announced on December 18, 2012, Arbitron Inc. and Nielsen Holdings N.V. entered into a definitive agreement for Nielsen to acquire all of the outstanding common stock of Arbitron for $48.00 per share in cash. The deal remains subject to certain regulatory approvals, including expiration of the Hart-Scott-Rodino antitrust waiting period, and customary closing conditions.
Dial Global Closes on Recapitalization. Dial Global first announced plans to enter into recapitalization of its existing credit facilities, other obligations and equity interests back on March 4. Now, it reports it has entered into an Amended and Restated Credit Agreement with General Electric Capital Corporation, as administrative agent and collateral agent on a “First Lien Credit Agreement,” which, after taking into account a $15 million paydown, consists of a term loan of $136 million and revolving credit commitments of approximately $23 million, $18 million of which is drawn. The maturity date for that is October 21, 2016. DG also states it has entered into a Priority Second Lien Credit Agreement with Cortland Capital Market Services, LLC, as administrative agent and collateral agent, Blackrock Kelso Capital Corporation, as syndication agent and as the lender party for an additional $31.5 million term loan facility, with a maturity date of July 21, 2017. The Company issued to Blackrock penny warrants to purchase 7.5% of the Dial Global common stock. The Second Lien Credit Agreement was a restructuring of the existing approximately $93 million in second lien obligations and was accomplished by amending and restating the Second Lien Credit Agreement to provide for a $30 million term loan with a maturity date of April 16, 2018 and exchanging approximately $63 million in remaining obligations under the prior Second Lien Credit Agreement for a new Series A preferred stock of the Company. Lenders received penny warrants to purchase 12.0% of the Company’s common stock and 12.0% of the outstanding shares of Series B preferred stock, Series C preferred stock and Series D preferred stock. Those will be subject to forfeit, in whole or in part, if the Dial Global retires all or a portion of the $30 million second lien term loan and the Series A preferred stock held by such 2L lenders prior to certain specified dates. As part of these agreements, stockholders of preferred stock and warrants were granted certain corporate governance rights, including the right to elect three directors to the Dial Global’s new eight-person board of directors. The three newly-elected directors are Brian Pope, Marshall Merriman and Ethan Underwood.
Washington Post’s Erik Wemple Examines Smerconish Departure from WPHT. In a piece in the Washington Post, media writer Erik Wemple takes a look at Michael Smerconish’s exit from longtime home base WPHT, Philadelphia for his new employer SiriusXM and, more specifically, Smerconish’s unwillingness to be defined as a dyed-in-the-wool conservative Republican and the CBS Radio station’s move to remain true to the conservative talk radio philosophy. Smerconish debuted this week on the satcaster’s POTUS channel – politics of the United States – that serves those interested in politics in general as opposed to the conservative and liberal talk channels the service also offers. Smerconish is not afraid to criticize what he believes are faults with both the news/talk format or the country in general, telling Wemple, “The problem for the country, I think, is that too many [people] cannot differentiate between entertainment and substance. The country is paying a price for this brand of polarized media…Too many politicians are taking their cues from people with microphones.” Wemple spoke with WPHT GM Marc Rayfield who says Smerconish’s philosophical change over the past few years veered from the station’s objective. He says there’s little passion for “middle-of-the-road.” He also says Smerconish “didn’t serve our core values. We wanted to remain conservative…We had been talking about the direction of the radio station for some time and we came to a mutual conclusion that we were not necessarily the best fit for each other.” Michael Smerconish will deliver the State of the First Amendment address at the Talkers New York 2013 conference in New York on Thursday, June 6. Read Wemple’s piece here.
Radio Legend Jim Bohannon Celebrates 30 Years in Syndication. The lifelong radio broadcaster has been in national syndication with Dial Global and its predecessors for 30 years as of Friday, April 19 when he celebrates that mark. Jim Bohannon began with the old Mutual Radio Network as a reporter and then started filling in for Larry King on his nationally syndicated program. The network was acquired by Westwood One and Bohannon took over for King’s late night slot in 1993. Bohannon recently re-signed with Dial Global (which acquired Westwood One) and will be honored with the “Lifetime Achievement Award” from TALKERS magazine at the Talkers New York 2013 industry convention in New York City on Thursday, June 6.
Doug Stephan Adds a Dozen Affiliates. Doug Stephan’s Stephan Multimedia reports the company has picked up a dozen new affiliates for the company’s radio offerings including Stephan’s “Good Day” nationally syndicated morning program, the weekend “Talk Radio Countdown Show” and others. New affiliates include: WNZS, Bangor, Maine; KTPA, Prescott, Arizona; WLBK, DeKalb, Illinois; KLEY, Wellington, Kansas; KMAS, Shelton, Washington; KVPI, Ville Platte, Louisiana; KXAR, Hope, Arkansas; KKLE, Winfield, Kansas; KOAL, Price, Utah; KUGN, Eugene, Oregon; WICO, Ocean City, Maryland; and WTIM, Taylorville, Illinois.
Media Management Group Expands into Network Syndication; Warren Eckstein’s Pet Show Joins Initiative. Longtime WOR, New York and WOR Radio Network personality Warren Eckstein returns to national syndication via Media Management Group’s new MMG Radio Network division. The syndicator reports Eckstein’s “The Pet Show” launched on Saturday, April 6 on more than 100 stations. Additionally, Warren’s “Pet Tip” can be heard daily on more than 200 stations. MMG also announces the new network will be led by Alan Eisenson, MMG’s EVP of business development. MMG states, “Eisenson has a 23-year background successfully programming news/talk radio stations in New York, Denver, Las Vegas and, most recently, Clear Channel’s news/talk properties in Sacramento and San Francisco.” On the new initiative, Eisenson says. “As the industry environment continues to evolve, the opportunity presented itself to acquire some of the format’s top talent in various niches. We’re thrilled to have seized that opportunity. We’re honored to be working with an accomplished pro like Warren Eckstein, and excited by the array of top caliber talent to come as we expand the network.” The MMG Radio Network says it will eventually include 12 hours of programming produced weekly and tailored for stations’ weekend lineups. The programs will also include a broad roster of digital elements, making them completely customizable for listeners to consume exactly when and how they wish.
Seton Hall University Radio Station Honors Alumni Glenn Schuck and Bob Windrem. Two alumni of Seton Hall University’s radio station WSOU, South Orange, New Jersey “The Loudest Rock” were honored at the station’s Hall of Fame induction ceremony this past Saturday. WINS, New York reporter Glenn Schuck (left) and NBC News producer Bob Windrem (right) were inducted during WSOU’s 65th anniversary dinner, which drew more than 200 people together to celebrate the station’s birthday. Some of the attendees included station alumni Bob Ley, Anthony Delia, Bill Rock, Full Metal Jackie, Pete Tauriello, Christina Stoffo, Frank Garrity, Mike DePippa, Joe Guzick, Mark Mitchell, and Gary Susalis, among others.
Boston Marathon Bombing Aftermath, Gun Legislation Proposals, and Teen Rape/Suicide Cases Among Top News/Talk Stories Yesterday (4/16). The aftermath of the Boston Marathon bombing was the dominant story on news/talk radio across the country on Tuesday. Other stories that registered included proposals for gun legislation and the high-profile cases of young teens allegedly raped who then committed suicide. The top stories are the result of ongoing research from TALKERS magazine.
Greater Media’s Sports Talk WPEN-FM, Philadelphia Tweaks Daily Lineup. The Philadelphia sports talker promotes two from their Saturday program to a daily midday show. Jon Marks and Sean Brace began holding down the 12:00 noon to 2:00 pm slot on Monday. Marks most recently co-hosted with Tony Bruno and Brian Baldinger, weekdays 10:00 am to 12:00 noon and 12:00 noon to 2:00 pm respectively. Sean Brace (as Jon did before him) also produced the Mike Missanelli show for the past year. As a result of the move, Brian Baldinger moves to the evening show where he co-hosts with Joe DeCamera for the 6:00 pm to 7:00 pm program. Program director Matt Nahigian says, “Jon Marks’ and Sean Brace’s on-air chemistry has been on display every Saturday morning for the past two years. The two young and up-and-coming sports talk hosts have created a fun and irreverent show that the Fanatic Philadelphia fans enjoy.”
More Legal Tussles Between Cumulus and Cox Media in Birmingham. Sports talk outlets WJOX and WZNN in Birmingham are at it again it court, this time over programmer Ryan Haney’s move from WJOX to WZNN. At issue is the non-compete clause in Haney’s contract. The Birmingham News reports that Citadel (Cumulus) is arguing Haney is in breach of his contract with the company by leaving to work for direct competitor WZNN “ESPN 97.3 The Zone.” Further, Citadel wants a temporary restraining order against Haney to prevent him from working while the case works its way through the system. Citadel also wants the court proceedings blacked out to the media because in arguing its case it will have to disclose confidential and proprietary business information. A judge is set to hear arguments this morning (2/5). Haney’s non-compete was for the period of one year after exiting WJOX which he did in early January. Haney had been with WJOX since 2004.
Your Radio Station is Vulnerable to Identity Theft. We all are aware of the dangers of identity theft and many of us do our best to protect ourselves individually from the dire consequences of having our identities stolen. But what about your radio station? Does it even know that there is a problem? Recently we have learned that both The New York Times and the Washington Post had their computers breached by Chinese hackers and this was not the first time. The hacking into The New York Times and the Washington Post do not appear to be financially motivated, but that is of little solace. Why would an identity thief hack into the computers of your radio station rather than attack the computers of big corporations such as Bank of America? Well, the answer is that they are attacking the computers of the big corporations, but they also are looking toward the computers of small corporations as the low hanging fruit of computer hacking. Radio stations make enticing targets. Hacking into the computers of radio stations and other small corporations that may not be in the Fortune 500 not only can provide information that can be stolen to access your radio station’s bank accounts, but it can also provide personal information about employees (some of whom are famous and even controversial), such as Social Security numbers as well as billing and payment information about your advertisers and other companies with which you do business that can be used to make all of these people and entities victims of identity theft. This is happening to small businesses every day. One of the reasons that it is happening is that not enough businesses, small and large, but particularly small, are doing enough to safeguard the security of the data in their computers. According to TALKERS legal editor Steve Weisman the problem is not as bad as you think. It is far worse. Read his important article addressing the problem and offering solutions here.
Programming Pro Alan Eisenson Joins Media Management Group as EVP of Business Development. Talk radio programmer Alan Eisenson most recently was in charge of programming Clear Channel’s Northern California news/talk stations: heritage KFBK-AM/FM and KSTE, Sacramento as well as KKSF and KNEW, San Francisco. Now he joins New York-based Media Management Group as executive vice president of business development. The firm states, “In his new capacity Eisenson will enable MMG to expand its range of services, including performance and tactical support, and maximizing client audience growth across all media and technology platforms.” MMG president and CEO Jeff Schwartz states, “I have known Alan for over 12 years, since he was program director at WEVD here in NYC. He is one of the most talented programmers and talent managers in the business and will enable us to offer additional value to our current and prospective clients.”
CBS Radio’s KDKA-FM, Pittsburgh “Sportsradio 93.7 The Fan” Promotes Two. Late night sports talk host Chris Mueller is upped to the afternoon drive slot as part of the program hosted by Joe Starkey and Josh Miller weekdays from 2:00 pm to 6:00 pm. Mueller is a Pittsburgh native and a Penn State grad. He has been with “The Fan” since its February 2010 debut. About Chris Mueller, program director Ryan Maguire says, “In Chris, we feel we have a dynamic personality who really had great chemistry with Joe Starkey and Josh Miller. That speaks volumes because we had some very talented candidates that we were looking at for this position. He earned this, and we’re excited at what lies ahead.” Moving into the late night slot is weekender Colin Dunlap, who was most recently hosting the 8:00 am to 11:00 am weekend program. Dunlap is a former Pittsburgh Post-Gazette sports writer. In addition to his on-air duties at “Sportsradio 93.7 The Fan,” Dunlap will also serve as the featured sports columnist for 937thefan.com.
How to Pump Up Your Weekend “How-To” Show – Part 2. Talk radio consultant Holland Cooke says, “Few marketing opportunities can generate more new business than local ‘how-to’ weekend talk radio…if you use it properly.” In this follow-up to yesterday’s piece, Cooke offers four basic tips to maximizing the productivity and quality of these shows: 1) Stay relentlessly on topic; 2) Keep your information in layman’s language; 3) Don’t say “goodbye” at the end of the show; 4) Listen to the show yourself, after some time has gone by so you hear it more objectively. Read Holland Cooke’s suggestions for producing quality weekend “how-to” programs here.
Austin Hill and Brian Wiley Join KINF-AM/FM, Boise. Impact Radio Group news/talk KINF-AM/FM, Boise brings talk pro Austin Hill aboard for the morning drive program beginning Monday, February 11. Also being added to the program schedule is Brian Wiley who will bring his “Money Show with Brian Wiley” to the station for the 12:00 noon to 2:00 pm slot. Both Hill and Wiley previously worked at Peak Broadcasting’s crosstown KIDO. Austin Hill’s weekend syndicated show “Austin Hill’s Big World of Small Business” airs on Saturdays on KINF.
Obama Gun Legislation Tour, Obama Cabinet Nominees, Super Bowl XLVII, Immigration Reform, and Death of Ed Koch Among Top News/Talk Stories Yesterday (2/4). President Obama’s tour of the country to promote his gun legislation; cabinet nominations for President Obama’s second term; the aftermath of Super Bowl XLVII; the debate over immigration reform legislation; and the death of former NYC Mayor Ed Koch were among the top news/talk stories discussed on news/talk radio yesterday, according to ongoing research from TALKERS.