Tag: "77 WABC"
Wednesday, May 4, 2022
Cumulus Media 2022 First Quarter Net Revenue Rises 15%. Reporting financial data for the first quarter of 2022, Cumulus Media’s total net revenue for the period was $232 million, an increase of 15% over the same period in 2021. The company says it was the fifth straight quarter of sequential improvement in revenue performance versus a comparable quarter in 2019. Cumulus also reports a Q1 net loss of just $0.9 million, down from the net loss of $21.9 million reported in the first quarter of 2021. The broadcast radio segment is broken into two parts – spot, which rose 11.9% over the same period a year ago, and network, which was up 5.2%. The company’s digital segment was up 18%, led by digital marketing services (+35%) and podcasting (+22%). Cumulus president and CEO Mary G. Berner says, “Our outstanding first quarter results once again demonstrate the positive impacts of our ‘audio-first’ strategy to transform the company from a one-dimensional radio broadcaster to a multi-dimensional audio media company. Following a strong 2021 performance, this quarter’s results underscore our ability to deliver value to our shareholders through sustained profitable top- and bottom-line growth and balance sheet de-levering. We delivered sequential revenue improvement for the fifth straight quarter versus the comparable 2019 quarter, grew EBITDA by 250% year-over-year, and generated continued strong cash from operations, which collectively allowed us to achieve the company’s lowest net leverage in over a decade. Given our best-among-peers balance sheet, strong financial momentum and the company’s positive 2022 outlook, we expect ongoing cash flow generation that will support a meaningful return of capital to shareholders now and in the future. Accordingly, as a first step, today we are announcing a $50 million share repurchase program with a plan to commence share repurchases in the near-term. This capital return program is underpinned by our continued belief that the company is significantly undervalued.”
Cumulus Rejects Unsolicited Acquisition Bid. The last sentence of Cumulus Media president and CEO Mary Berner’s statement outlining its first quarter results says it all: “The company is significantly undervalued.” That was also the theme of a memo from Berner to Cumulus shareholders regarding the unsolicited offer from a consortium led by Connoisseur Media CEO Jeffrey Warshaw to acquire Cumulus. Berner says, “The company recently received an indication of interest in acquiring the company for $15 to $17 per share. After a careful and thorough review, conducted in consultation with our financial and legal advisors, the board unanimously concluded that the indication of interest significantly undervalues the company and is not in the best interests of its shareholders. The company’s board is open to all paths that continue to drive superior shareholder value. Our strong momentum across business lines, multiple digital revenue growth drivers, operational efficiency and superior cash flow provide the company with substantial untapped upside that it expects to continue to realize on behalf of its shareholders. Given these facts and circumstances, the board unanimously believes execution of the company’s strategy will deliver significantly more value to shareholders than this indication of interest.”
Bill O’Reilly’s ‘No Spin News’ Debuts This Week. The Bill O’Reilly-hosted program from Key Networks debuts this week on 58 stations across the U.S. Key Networks says “No Spin News” is “a full hour of trailblazing journalist and bestselling author O’Reilly’s fair, smart, fact-based analysis” airing every weeknight. The one-hour show has been airing in New York on 77 WABC for over a year under the title, “Common Sense with Bill O’Reilly.” The program now joins the suite of shows syndicated by Key Networks that includes: “The O’Reilly Update,” “The O’Reilly Update – Morning Edition,” and “The O’Reilly Update – Weekend Edition.” O’Reilly says, “We are beyond happy that radio stations from coast-to-coast are spreading the ‘No Spin’ mantra. We provide something that’s badly needed in the USA: honest fact-based analysis.” Key Networks COO Dennis Green comments, “Based on the success of ‘The O’Reilly Update,’ the marketplace was ready for more content from Bill O’Reilly. ‘No Spin News’ provides analysis on what is happening in the world that listeners want to hear. This is content you won’t get anywhere else, and I expect stations to add Bill O’Reilly’s ‘No Spin News’ in large numbers!”
WABC-TV, New York Opens Long Island Bureau at Hofstra University. New York City’s WABC-TV is opening a new, Long Island bureau today (5/4) inside the Lawrence Herbert School of Communication at Hofstra University. The small bureau will have a full-time reporter and two production trucks in Long Island, New York. WABC has a history of supporting the journalism program at the university, donating significant quantities of valuable equipment and providing internship and career opportunities for many students. Hofstra students will have regular exposure to WABC journalists, expanded internships, guest lectures and seminars held by WABC
professionals. The Long Island bureau, located in the newsroom of Hofstra’s award-winning, student-run radio station, WRHU-88.7 FM, reinforces WABC-TV’s commitment to Long Island, as well as the Herbert School’s commitment to community journalism, including the newly launched community news site, LongIslandAdvocate.com. Lawrence Herbert School of Communication dean Mark Lukasiewicz states, “Our journalism program emphasizes experiential, hands-on learning and encourages our student journalists to engage with Long Island communities to tell impactful stories. The Eyewitness News Long Island bureau, located alongside WRHU’s newsroom, will provide that kind of hands-on opportunity – a daily chance for students to observe and learn from great local journalists doing the work of New York’s top broadcast news operation.”
TALKERS News Notes. The nationally syndicated “Rob Carson Show” joins the 1400 Investments, LLC-owned Nevada Talk Network. The program, syndicated by Newsmax and airing in the 12:00 noon to 3:00 pm ET daypart, is being heard on KELY-AM, Ely; KNNR-AM, Sparks-Carson City; KDJJ-FM, Fernley-Fallon; KPKK-FM, Amargosa Valley; KAVB-FM, Hawthorne; and KPVM-TV
25.6, Pahrump…..The syndicated “Todd Starnes Show” – airing live from 12:00 noon to 3:00 pm ET – adds new affiliate station KTXW-AM/FM, Austin “The Bridge” to its roster of affiliate stations…..FOX Nation – FOX News Media’s “on-demand streaming service designed to complement the FOX News Channel experience with a members-only destination for its most passionate and loyal super fans” – is premiering a documentary series about music and television industry star Sharon Osbourne in September. Titled “Sharon Osbourne: To Hell & Back,” the four-part program features “a candid and heartfelt look into Osbourne’s personal and professional life, highlighting how she found herself in the crosshairs of the cancel culture movement after exiting CBS’s ‘The Talk.’”…..SiriusXM is presenting nationwide, comprehensive coverage of the Kentucky Derby this Saturday (5/7). The wire-to-wire race broadcast of the Kentucky Derby is provided by NBC Sports Audio Network.
Roe v Wade Leak, Midterm Primaries/Trump & the GOP, the Economy, Russia-Ukraine War, COVID-19 Among Top News/Talk Stories Yesterday (5/3). Reactions to the leak of a draft of the Supreme Court’s decision to overturn Roe v Wade; the primary elections in Ohio and Indiana, the battle for control of Congress in November’s midterm elections, and Donald Trump’s influence over the GOP; the activity on the world’s financial markets, the supply chain woes, and concerns about a recession; Russia’s ongoing invasion of Ukraine and the effects across the globe; and concerns about new Omicron variants and the possibility of a serious summer COVID wave were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Wednesday, April 8, 2020
Cumulus Announces Furlough and Pay Cut Plans. It was the last of the large radio companies to take drastic measures, but Tuesday (4/7) Cumulus Media CEO Mary Berner made her employees aware of the company’s plans via a video message. Berner told her workforce that the Covid-19 plan was temporary and will
‘The Mighty 990’ in Memphis Offering Week of Free Advertising. Memphis news/talk KWAM-AM/W300DE “The Mighty 990” is offering small businesses in the Memphis market a free week of advertising. Starnes Media Group says, “It’s just
‘Cats Roundtable’ to Air on WABC, New York. The nationally syndicated “Cats Roundtable with John Catsimatidis” begins airing on “TALK RADIO 77 WABC” in New York at 9:00 am this Sunday (4/12). Catsimatidis’ Red Apple Media recently closed on its purchase of the radio station and assumed operations. Catsimatidis’
TALKERS News Notes. The content creation deal between iHeartMedia and Aaron Mahnke is extended and includes two more years of new content for the popular “Cabinet of Curiosities” podcast, two new seasons of “Unobscured,” as well as an executive producer role for the newly launched hit “Strange Arrivals,” additional seasons of “Noble Blood” and a new scripted series set to launch this fall. Additionally, the partnership will add a slate of five new podcasts to feature groundbreaking talent including Rabia Chaudry – attorney, advocate, and author of the New York Times bestselling book, Adnan’s Story…..Chicago media writer Robert Feder reports that former
U.S. Coronavirus Cases and Death Toll, the Hydroxychloroquine Debate, Trump WHO Criticism, Wisconsin Primary, Acting Navy Secretary Resigns, and Presidential Race Among Top News/Talk Stories Yesterday (4/7). The number of Covid-19 cases in the U.S. and the death toll; the debate over prescribing the anti-malaria drug hydroxychloroquine to combat the coronavirus; President Trump’s criticism of the World Health Organization and his threat to withhold U.S. funds from the organization; the decision to go ahead with Tuesday’s Democratic primary in Wisconsin; acting Navy Secretary Thomas Modly resigns from his post after his controversial badmouthing of the USS Theodore Roosevelt captain; and the state of the presidential race were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Tuesday, February 6, 2018
WABC, New York Pairs Curtis Sliwa and Rita Cosby for Midday Show. A programming tweak at Cumulus Media’s WABC, New York partners 77 WABC political editor Rita Cosby with incumbent midday talk radio personality Curtis Sliwa for the 12:00 noon to 3:00 pm show. The new “Curtis + Cosby” show debuts today (2/6). WABC program director Craig Schwalb states, “This is basically a New York dream
Talk Host Chris X Joins ‘Conservative Cartel’ Show. Signing on with Pinnacle Broadcast Holdings, Inc to co-host “The Conservative Cartel” program with Matt Locke is Chris X, former host of ChrisXradio. In a press release, Pinnacle says Chris X
Beasley Promotes Shoulder to Cry on for Patriots Fans. After the Patriots’ loss to the Eagles in Super Bowl LII, Beasley Media Group sports talker WBZ-FM, Boston “98.5 The Sports Hub” launched an ad blitz — including the image above — in the Boston Herald and on billboards. Beasley Boston VP and market manager Mary Menna says, “The move was in response to our heartbreaking loss and the need to give our Patriots fans a vehicle to express themselves.”
Westwood One Names Motel 6 and GEICO Winners of Sports Sound Awards. For the fifth straight year, Westwood One has been honoring the advertisers whose Super Bowl ads ranked as the most engaging audio commercials. This year, 2018 Westwood One Sports Sound Awards recognize Motel 6 and GEICO. Motel 6 won the Listeners
iHeartMedia’s Thea Mitchem Signs New Deal. National Programming Group EVP Thea Mitchem signs a contract renewal with iHeartMedia to continue serving in that capacity for the Northeast Division. The company says Mitchem will continue to report to National Programming Group EVP and general manager Brad Hardin, as well as
MIW Releases Gender Analysis Report. The latest MIW Gender Analysis Study has been released by the Mentoring and Inspiring Women in Radio Group. The study tabulates the number of women in management positions in the radio business. The 2017 edition of the study finds that “out of 11,301 AM and FM radio stations, accounted for by PrecisionTrak, as of December 31, 2017, 1,974 stations, or 18.1%, have women holding the general manager position in 2017. This is an increase from 2016 which was 17.8% and continues to show growth from 2004, 13 years ago when the percentage was only 14.9%. The annual study is compiled, analyzed and released by the MIW Group
TALKERS News Notes. Public news/talk WAMU, Washington names Jeffrey Katz (not to be confused with WRVA, Richmond talk host Jeff Katz) news director for the station. Katz has been interim news director since November. He joined the station in May of 2017 as senior managing editor. Prior to that he was director of digital content for National Geographic. He’d been with NPR in numerous capacities over a 15-year
Dow Plunges Again, Trump-Russia Investigation, Democrat FBI Memo Rebuttal, Pennsylvania Gerrymandering Case, Eagles Upset Patriots in Super Bowl LII, and Pyeongchang Winter Olympics Among Top News/Talk Stories Yesterday (2/5). The Dow Jones Industrial Average drops more than 1,100 points on Monday after Friday’s selloff and experts’ predictions that the sellout is not over; the Robert Mueller-led investigation into possible connections between Trump campaign operatives; Congressional Democrats’ desire to release their memo they say clarifies the GOP FBI surveillance memo; the U.S. Supreme Court refuses to overturn Pennsylvania Supreme Court’s mandate that congressional maps be redrawn due to gerrymandering; the Philadelphia Eagles upset of the New England Patriots in Super Bowl LII, and the Winter Olympics in Pyeongchang, South Korea were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.