CBS RADIO Dips 2% in First Quarter. When CBS Corp. delivers its quarterly financial reports, the focus is on television and this first quarter of 2016 is no different. As a whole, the revenue for the first quarter was $3.85 billion – an increase of 10%. But looking at radio – which is part of the company’s Local Broadcasting division – net revenue was down 2%. As for the status of the radio division, CEO Les Moonves and CFO Joseph Ianniello reiterated what’s been said publicly over the past few months: The company is pursuing making CBS RADIO a separate, publicly traded company and, at the same time, is listening to any offers to divest of some or all of the stations if it can do so in a tax-friendly manner.
iHeartMedia Reports Q1 Revenue Up 6%. Compared to the same period a year ago, revenue for the iHeartMedia division of iHeartCommunications Inc. increased $41.1 million – a jump of 6%. The company says the hike was “driven primarily by increases in our core radio business, both broadcast and digital, including the impact of trade and barter and political advertising revenues, driven in part by our live events, as well as increases in our traffic and weather business. Revenue also increased in our syndication business driven by growth in our news/talk format. Trade and barter includes the impact of marketing partnerships with our advertisers on live events, as well as revenue recognized in connection with advertising services provided during the quarter in connection with investments made in the fourth quarter of 2015 in certain non-public companies.”
Beasley Broadcast Group Q1 Revenue Rises 13.2% on Strength of New Tampa and Charlotte Properties. The net revenue for the first quarter was $27.5 million – an increase of 13.2% — that is largely the result of its late 2014 station swap with CBS RADIO. Beasley Broadcast Group traded five stations in Philadelphia and Miami for 13 outlets in Tampa and Charlotte (and one AM in Philly). Interim CEO Caroline Beasley (who also serves as EVP/CFO) comments, “While 2016 first quarter revenue included the cyclical return of political advertising, we generated organic revenue growth even without the political spending. In addition, we achieved our goal of our clusters, on a combined basis, outperforming the markets that report to Miller Kaplan for the full quarter and expect this trend to continue in 2016.” Beasley also notes that the company paid down $3 million against its debt, leaving the remaining debt standing at $86 million. She adds, “We intend to continue our use of cash from operations to further reduce debt, pay quarterly cash dividends and to pursue other opportunities to enhance shareholder value and during the first quarter declared our tenth consecutive quarterly cash dividend.”
Envision Networks Debuts ‘Today’s Comedy Network.’ The new comedy radio service from Envision Networks is called “Today’s Comedy Network,” and the company says it’s a “turnkey continuous comedy format for radio 24/7/365,” featuring “non-stop blocks of jokes and one-liners from the best comedians. This fast-paced, safe-for-work and in-the-car comedy fits perfectly for today’s radio listener.” Envision adds it’s “the first one that crosses all lines of income, ethnicity, education and gender. By using easily customizable distribution, affiliates can personalize the station to their own market with content, personalities, and contests. In addition to the informative host, each week a different comedian serves as the special guest host every hour for the entire broadcast week. Listeners will hear tracks from their latest release and inside stories about their travels, friends and insights about comedy.” Regular comics will include: George Carlin, Jim Gaffigan, Jeff Foxworthy, Christopher Titus, Brian Regan, Maria Bamford, Patton Oswalt, Bill Engvall, Eddie Izzard, Lewis Black, Gabriel Iglesias, Louis C. K., Ron White, Kathleen Madigan and many more. Envision president and CEO Danno Wolkoff says, “‘Today’s Comedy’ provides the best experience for radio stations to offer their listeners. The format provides the broadest demographic appeal in the crowded talk format arena and most of all; it’s very, very FUNNY!”
Dr. Drew and Adam Carolla Renew Chemistry with PodcastOne Show. For years, Dr. Drew Pinsky and Adam Carolla worked side-by-side on the nationally syndicated (and recently cancelled) radio show “Loveline.” Now, Carolla and Dr. Drew are back together for a daily podcast titled “Adam & Drew” on the PodcastOne platform. PodcastOne chairman and CEO Norm Pattiz says, “Adam and Drew, together again, five days a week – this time on PodcastOne. There’s really not much more that needs to be said. Who said you can’t go home again?”
WFDF, Detroit Adds Second Former State Rep. for Weekly Show. The station, being operated by Kevin Adell, brings former Michigan State Rep. Cindy Gamrat aboard to host a weekly, Thursday program. Gamrat’s joining the station comes not long after former State Rep. Todd Courser also began hosting a show on the station. Both Gamrat and Courser are facing felony and misdemeanor charges for alleged misconduct for trying to hide their romantic relationship while in office. Both are married. The Detroit News reports that Gamrat is taking on the new duties against her attorney’s advice. Both Gamrat and Courser face potential prison sentences for their alleged misconduct in hiding their affair.
The Presidential Race/Indiana Primary, Navy SEAL Killed in Iraq/Battle Against Islamic State, Syrian Civil Conflict, NATO-Russia Tensions, Flint Water Crisis, and NBA-NHL Playoffs Among Top News/Talk Stories Yesterday (5/3). The activities of the candidates for president and yesterday’s Indiana primary election; a U.S. Navy SEAL is killed in Iraq and the ongoing battle against Islamic State in the region; the U.S.’s warning to Syria to begin plans for Assad regime change; the military tensions between Russia and NATO; the Flint contaminated water situation and President Obama’s plan to meet with Governor Rick Snyder; and the NBA and NHL playoffs were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Joyce Provides Color on Talk Radio Night in Chattanooga. WGOW-FM, Chattanooga early afternoon talk host Brian Joyce (left) poses for a pic with Chattanooga Lookouts play-by-play man Larry Ward (right) in the booth at AT&T Field. Joyce threw out the first pitch at the AA baseball club’s recent game against the Montgomery Biscuits on what the team dubbed “Talk Radio Night.” He says he was honored to be able to join Ward in the booth to do some color commentary. Joyce – a Division I college baseball player at Davidson College – reports that, unlike so many first pitches by celebrities, his was a perfect strike!
Michael Harrison Gets ‘Up Close and Far Out’ with Hubbard Radio Chair/CEO Ginny Morris. This week’s episode of the PodcastOne international hit program for media freaks features TALKERS publisher Michael Harrison in a conversation with the TALKERS 2016 recipient of the “Woman of the Year” award – Hubbard Radio chair and chief executive officer Ginny Morris. Morris discusses a wide variety of topics in a candid, informal phone dialogue including the huge impact that the death of Prince had on the Twin Cities market in which Hubbard is based and in which he made his home and was a beloved local figure. She discusses how Hubbard’s local talk station “myTalk107.1” – nationally known for its ongoing pioneering efforts in creating a spoken-word format specifically targeted to females – responded to the shocking event by going non-stop Prince talk. Listeners were invited to share their feelings and personal stories about living in the same community with the musical legend. Harrison also asks her about the station’s unique and brilliant campaign to promote this programming by putting the message on electronic billboards throughout the market that “myTalk107.1” was talking about Prince right now! She discusses the history of “myTalk107.1” and the many different approaches it attempted on its way to eventually gaining traction with a female-targeted talk format. Morris also relates how it feels being a third-generation broadcaster (her grandfather started the family owned-and-operated company in the Twin Cities back in the early 1920s). She optimistically discusses the challenges facing radio today competing in the digital era as well as attracting younger listeners and employees. Harrison asks her if the recent rapid growth of Hubbard in acquiring stations has generated the pitfalls of a corporate environment to which she answers it has not. She emphasizes that Hubbard’s stations are managed locally and do not receive micro-management marching orders from company headquarters. Morris says that Hubbard is extensively engaged in audience research on a “granular level.” She talks about the cultural importance of preserving radio and television history and heritage and cites her passion for the work being done at the Library of American Broadcasting at the University of Maryland among a variety of other topics. Ginny Morris will receive the “Judy Jarvis Memorial Award for Outstanding Contributions to the Radio Industry by a Woman” (a.k.a. “Woman of the Year”) at the forthcoming TALKERS 2016: Bridging the Generations convention on Friday, May 20 on the campus of Hofstra University in Hempstead, NY. To listen to the entire podcast, please click here or click on the “Up Close and Far Out” player box located in the right-hand column on every page of Talkers.com and RadioInfo.com. For complete information about TALKERS 2016: Bridging the Generations, please click here.
Cool Job Opportunities. KNX, Los Angeles has two openings in the news department. The station is seeking a news writer/editor and a news anchor. For information about the news writer/editor position and to apply, click here.. For details on the news anchor post and to apply, click here.