Cumulus Media Emerges from Chapter 11. The company said it would emerge from Chapter 11 reorganization during the second quarter of this year and that turns out to be the case. In a statement, Cumulus Media says it has “successfully completed its financial restructuring and emerged from Chapter 11 having reduced its debt by more than $1 billion. The Company plans to utilize its enhanced financial flexibility to continue its ongoing business transformation and drive value creation on behalf of all its stakeholders.” Cumulus president and CEO Mary Berner adds, “Over the last two years, we have been relentlessly focused on our plans to turn the Company around, and the completion of our financial restructuring process is a monumental step forward on our turnaround path. We emerge today as a stronger and more competitive Company, with the financial foundation that we need to move forward decisively with the initiatives that will produce the greatest benefits for the Company. With this financial restructuring now behind us, we are excited about what we will be able to accomplish with all of our resources and energy fully focused on our operating business.” In the statement, Cumulus reports that it reduced its total debt balance from $2.34 billion to $1.30 billion, consisting entirely of a term loan bearing interest at LIBOR plus 450 basis points and due May 15, 2022. “Also, pursuant to the terms of the financial restructuring, the Company’s previously outstanding equity was cancelled and certain former stakeholders are being issued 11,052,211 shares of the Company’s Class A common stock, 5,218,209 shares of the Company’s Class B common stock and warrants to purchase 3,729,589 shares of common stock in exchange for their prior claims. Except with regard to voting and conversion rights, shares of Class A common stock and Class B common stock are identical in all respects. Generally, the holders of shares of Class B common stock are not entitled to vote on any matters, although such shares are convertible into shares of Class A common stock, subject to FCC rules and regulations and the Company’s governance documents. We have applied to have our Class A common stock listed on The NASDAQ Stock Market under the symbol CMLS and, until such time, expect that such shares will be quoted on the OTC Pink Sheets under the symbol CMIA.”
Kathy Smith to Lead Cumulus Eugene, Oregon. At Cumulus Media’s Eugene, Oregon station group, Kathy Smith is the new VP/market manager. She was most recently Alpha Media Portland’s general sales manager. Cumulus Eugene includes news/talk KUGN and sports talk KUJZ-FM and four music outlets. Cumulus EVP Bob Walker says, “We are very pleased to have Kathy leading our team in Eugene. Her deep experience and true passion for the Pacific Northwest region make her an incredible asset to our six great stations and the community they serve.”
‘97.9 ESPN Hartford’ Names Bob Joyce UConn Sports Executive Producer. At sports talker WUCS-FM, Hartford “97.9 ESPN Hartford,” Bob Joyce is named executive producer for University of Connecticut Athletics content. Joyce’s duties include serving as the radio voice for Women’s Basketball and Men’s Hockey, handling play-by-play, and working closely with “The Rob Dibble Show.” He’ll report to iHeartMedia Connecticut program director for sports and talk Ben Darnell. iHeartMedia Hartford Region president Steve Honeycomb states, “We are excited to have Bob Joyce on our team. Bob brings continuity and a high-quality professionalism to our UConn content. He is well known in the market and with UConn fans and we are confident he will bring UConn sports broadcasting to new levels.”
Hayley Tenpas Named WHBY, Appleton Talk Host. In the Appleton-Green Bay, Wisconsin market, Woodward Communications names Hayley Tenpas host of the afternoon drive “Focus Fox Valley” program that airs from 4:00 pm to 6:00 pm. Tenpas formerly served as news anchor at Scripps’ WGBA-TV, Green Bay. She is a native of the Fox Valley, having grown up in Hortonville. She earned her broadcast journalism degree from the University of Wisconsin-Whitewater. WHBY brand manager Justin Hull says, “We are excited to welcome Hayley to the WHBY team. Her passion for the community will be a great addition to our weekday lineup.”
TALKERS News Notes. On Monday (6/11), 77 WABC Radio in New York is hosting the first GOP primary debate between U.S. Rep. Dan Donovan and former Congressman Michael Grimm. The station says the two are locked in a “tight and heated race” for New York’s 11th Congressional District. The one-hour live debate will take place at WABC Radio studios in New York City at 12:00 noon ET and veteran journalist and WABC Radio host and political editor Rita Cosby will serve as moderator as part of the first hour of her talk show with Curtis Sliwa, “Curtis + Cosby.”…..The legal case of St. Louis talk show host Jamie Allman against Emmis Communications and Entercom is being moved from Missouri state court to federal court. RegularTALKERS readers remember that Allman is suing the two companies for breach of contract after Allman was let go from his KFTK-FM radio show in the aftermath of social media comments he made about Parkland, Florida student David Hogg. At the time of his firing from KFTK-FM, Entercom was LMAing the station from Emmis as it waited to close on the purchase of the station…..The GCN nationally syndicated Dr. Daliah Wachs program is added to the program schedule at KBDB-HD3, Forks, Washington…..Longtime KSL-AM/FM, Salt Lake City talk show host Doug Wright said a final farewell to his listeners on Friday, June 1. Wright retired from the Bonneville-owned news/talk station after more than 40 years on the air in the market. To fill the air time left open by Wright’s retirement, Bonneville is expanding the “Dave and Dujanovic” show to 9:00 am to 12:00.
Joe Brewer Promoted at Katz Media Group. Twenty-two-year staffer Joe Brewer is promoted to president of business operations at Katz Media Group. Brewer – who started with the company in 1996 – was most recently chief administrative officer. In this position, Brewer will increase his focus on business operations across Katz Radio Group, Katz Television Group and Katz Digital with the goal of streamlining company processes and aligning all technology and innovation initiatives with company goals.
AWMF to Honor Judy Woodruff at Gracies Awards Luncheon. The leadership of the Alliance for Women in Media Foundation announces that Judy Woodruff, anchor and managing editor of “PBS NewsHour,” will be honored with a Lifetime Achievement Award at the 43rd Annual Gracie Awards Luncheon on June 27 at Cipriani 42ndStreet in New York. The annual Gracies Luncheon honors individual achievement and outstanding programming at the local level for TV and radio, public level for radio, and student level for TV, radio and interactive media. CNN’s Erica Hill will host the luncheon. AWMF chair Christine Travaglini says, “The Gracie Awards celebrate the female storytellers who are changing the narrative and pushing boundaries in the quest toward diversity and equality. Since the beginning of her journalism career in 1976, Judy Woodruff’s connected, well-researched approach is consistently present and illustrates why she is so worthy of this Lifetime Achievement Award. We at AWM and AWMF, through the Gracies, are incredibly proud to honor and celebrate outstanding talent and content for, by and about women.”
Trump-Russia Investigation/Manafort Allegations, Trump Uninvites Eagles to White House, SCOTUS Cake Ruling, Iran Nuclear Deal, Bill Clinton NBC Interview, North Korea Summit, Dwight Clark Dies, NBA Finals, and Major League Baseball Action Among Top News/Talk Stories Yesterday (6/4). The investigation into possible connections between Trump campaign operatives and Russian agents and allegations that Paul Manafort attempted to tamper with witnesses; President Trump uninvites the Super Bowl champion Philadelphia Eagles to the White House; the Supreme Court rules in favor of Denver baker who refused to make wedding cake for gay couple; the aftermath of the U.S.’s withdrawal from the Iran nuclear deal; Bill Clinton’s reaction to being questioned about Monica Lewinsky on “Today” show interview; the status of the U.S.-North Korea summit; San Francisco 49ers great Dwight Clark dies at 61; the Warriors-Cavaliers NBA Finals; and Major League Baseball action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
BFoA Establishes Joseph M. Bilotta Memorial Fund. The Broadcasters Foundation of America has established the Joseph M. Bilotta Memorial Fund in honor of the broadcaster who died this past Friday (6/1) at age 69 after a battle with pancreatic cancer. BFoA president Jim Thompson states, “Joe was a friend and champion of the Broadcasters Foundation and our industry. He devoted time and energy to advancing broadcasting and to helping colleagues in need. He will be missed by many, personally and professionally.” Bilotta spent more than 40 years at Buckley Broadcasting where he helped build the group’s standing through such noted stations as WOR-AM, New York and WDRC-AM and WDRC-FM in Hartford. Bilotta was saluted by his colleagues in April with the coveted Ward L. Quaal Leadership Award, given by the Broadcasters Foundation of America at a breakfast ceremony held during the 2018 NAB Show. To donate to the Joseph M. Bilotta Memorial Fund, please visit www.broadcastersfoundation.org, call 212-373-8250, or email email@example.com.
Music Radio News and Career Moves. Joining Envision Networks as assistant marketing manager is Kelsey Shawgo. She comes to Envision with a background in writing and music journalism. She has been published in Substream Magazine, Fashion Meets Music Festival Magazine, and was a staff news writer and features writer for Alternative Press before joining Envision Networks. She also has worked in promotions for the now-Entercom-owned Cleveland station cluster. Envision says, “Kelsey’s acumen for millennial sentimentalities with a focus on new media and creative content will enhance Envision Networks’ marketing team. She aims to strengthen the brand voice of Envision Networks in all written and graphic content including public relations, social media, and the monthly journalistic Envision Insider newsletter…..iHeartMedia announces the primetime lineup for its iHeartRadio Music Festival taking place in Las Vegas September 21 and 22. Performers include: Justin Timberlake, Jack White, Carrie Underwood, Mariah Carey, Imagine Dragons, Jason Aldean, Sam Smith, Luke Bryan, Lynyrd Skynyrd, Panic! At The Disco, Kelly Clarkson, Shawn Mendes, Kygo, Rae Sremmurd, Logic, and more…..iHeartMedia Chicago announces that market radio pro Lisa Dent is joining country WBGG “BIG 95.5” to host weekend programs. Dent previously co-hosted mornings on Entercom’s crosstown WUSN-FM in Chicago for 10 years before launching her first business, Lisa Dent Speaks, LLC, and building her own studio, The Radio Farm…..Cumulus Media’s Atlanta CHR WWWQ “Q100” launches a new online destination called Q-U at quatlanta.com. Cumulus says Q-U “puts listeners first with video content that brings together the ‘Q100’ listening community in a new way and includes original content from listeners who share their lives with others who have a passion for hit music. Q-U tackles issues affecting young adults on a daily basis, including relationships, jobs, college loans, family and activism.” Cumulus Media Atlanta VP and market manager Sean Shannon adds, “Q-U builds the ‘Q100’ brand and elevates and transforms the standard ‘we talk, you listen’ format to a truly integrated conversational fan experience. We couldn’t be more excited to launch this innovative new destination for Atlantans who love hit music.”…..Westwood One’s nationally syndicated “Ty, Kelly and Chuck” program is broadcasting live from the George Jones Museum in Nashville during this week’s CMA Fest. Each morning’s live broadcast inside The George Jones is free and open to the public.