Report: iHeartMedia Considering Securities Sale to Retire Debt Due in 2019. According to a report from Bloomberg News, iHeartMedia is looking at a plan to offer up for sale securities in one of its units to help retire some $1.4 billion in bonds. The report states that the company would create a subsidiary called Broader Media LLC. Existing debtholders would be offered the opportunity to exchange for the new obligations. According to Bloomberg, $8.3 billion in debt is coming due in 2019 for iHeartMedia. “iHeart’s plan would erase $192.9 million of 5.5 % unsecured notes due December 2016 that are already considered current,” a source told Bloomberg. “The proposal is also intended to retire the company’s $190 million revolving loan due December 2017, the $850 million of 10% unsecured notes due January 2018 and the $175 million of 6.875% unsecured notes due June 2018.” Read the Bloomberg piece here.
Greater Media Promotes Buzz Knight to SVP of Program Development. Fourteen-year Greater Media staffer Buzz Knight is promoted to SVP of program development for the company. Knight’s new duties include responsibility for “overseeing programming development for all of Greater Media’s radio properties and collaborating with the individual stations to build winning content, digital and brand management strategies.” Greater Media CEO Peter Smyth comments, “Buzz has done an outstanding job overseeing our programming brands across the company over the past 14 years. His insight and leadership plays an important role in the continued success of our company.”
Iowa Caucuses Aftermath/Presidential Race, Battle Against Islamic State, $1.7 Billion Iran Payment Controversy, Zika Virus Concerns, Bill Cosby Sexual Assault Case, Ken Stabler CTE Issue, and Run-Up to Super Bowl 50 Among Top News/Talk Stories Yesterday (2/3). The aftermath of the Iowa Caucuses, the focus on the New Hampshire Primary and the activities of the candidates for president; the U.S. military policy on defeating Islamic State; the controversy over the United States’ $1.7 billion payment to Iran as part of the nuclear agreement; fears about a potential pandemic of the Zika virus; the status of the sexual assault case against Bill Cosby; the results of the post-mortem on NFL great Ken Stabler and its effect on football’s CTE problem; and the week’s activities leading up to Sunday’s Super Bowl 50 were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
MIW: Women Gaining in GM and SM Roles; Stagnating in Programming Management. According to data from the most recent Gender Analysis Study from the Mentoring and Inspiring Women in Radio Group (culled from data from M Street Publications), since 2004 the number of women serving in general manager positions has risen from 14.9% to 17.3% in 2015. However, a tally of women in program management positions shows a negligible increase of 10.9% in 2015 compared to 10.7% in 2004. MIW spokeswoman Kay Olin states, “Tracking the leadership roles of women in media brings awareness to the continued need to reach back and lift up. There is an incredible talent pool of strong and capable female leaders and they stand ready to make a difference. It is the responsibility of all of us in the media industry to make sure that we are conscientiously and consistently practicing inclusion.”
Odds & Sods. After just a year hosting afternoon drive at iHeartMedia’s news/talk simulcast KALZ-FM/KRZR-AM, Fresno “PowerTalk 96.7 and AM 1400,” Christopher Gabriel exits the station. On his Facebook page, Gabriel states, “Hey folks, here’s a little news: PowerTalk 96.7 and I have parted ways as of this morning. I want to thank them for the opportunity to come to Fresno, work with a ton of talented radio artists and have some fun California adventures. So… what’s next? I guess we’ll see!”…..Former NBA star Dennis Rodman will appear as a special guest at WIP, Philadelphia’s “Wing Bowl 24” tomorrow (2/5) at the Wells Fargo Center. The competitive eating event is pitting last year’s champion, Patrick “Deep Dish” Bertoletti, former champ Molly Schuyler, and the infamous LA Beast, against the field of local eaters. Philadelphia Eagles long snapper Jon Dorenbos will act as the commissioner of Wing Bowl 24. Local rock legend Tommy Conwell will perform the National Anthem. Rodman will also be appearing at the WIP/SugarHouse Casino official after party of Wing Bowl 24. WIP’s Michael Barkann and Ike Reese will broadcast from SugarHouse Casino from 10:00 am to 2:00 pm and the casino will feature food and drink specials all day long.
National Signing Day Remote for WQAM, Miami. Remote broadcasts can present any number of technical and/or programming challenges, but the afternoon drive air staff at CBS RADIO’s sports talk WQAM, Miami was able to put on a brave face and forge ahead as it broadcast on Wednesday (2/3) at a local Twin Peaks restaurant. The “Hochman, Crowder, and Krantz” show broadcast live for National Signing Day – the day when top high school athletes announce which college they’re going to attend. Surrounded by the hard-working service staff at Twin Peaks are (from l-r): Channing Crowder, Zach Krantz, and Marc Hochman.
Former Talk Host Benjamin Dover Dead at 57. Former Texas talk show host Benjamin Dover died back on January 1 after complications from pneumonia, according to an obituary published in the Dallas Morning News. Dover was born Lance Blumen. As his obit states, he got into the consumer advocacy business after a near-fatal motorcycle accident in 1989. He not only hosted a radio program on such signals as KLIF and KRLD-AM in Dallas and KFI, Los Angeles, he was a columnist for the Dallas Morning News from 1998 through 2004.