Industry News

BMI Pays Tribute to Erica Farber

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Erica Farber, the retiring CEO of the Radio Advertising Bureau, is pictured above (right) receiving a BMI gold record from the performing rights organization in appreciation of the support she’s provided BMI’s songwriters and publishers over the years. Presenting the record to Farber is BMI VP of industry relations Dan Spears (left). The inscription reads: “Congratulations on your retirement, Erica! BMI celebrates your 12 years of service leading the RAB and 52 years serving the broadcasting industry. Thank you for many years of friendship and for your continuous support of BMI songwriters and publishers. You will be greatly missed. Your BMI Family”

Industry News

iHeartMedia Makes $101 Million from BMI Deal

iHeartMedia files an 8-K Form with the Securities and Exchange Commission announcing that theim previously announced acquisition of Broadcast Music, Inc. (“BMI”) to a shareholder group led by New Mountain Capital, LLC has closed, and the company has received $101.4 million of proceeds related to its equity interest in BMI. iHeartMedia says it plans to use the proceeds for general corporate purposes, which may include the repayment of debt.

Industry News

Audacy Won’t Challenge BMI Merger in Exchange for $25.4 Million in Stock

A bankruptcy court judge is agreeing to Audacy’s settlement with BMI in which Audacy agrees not to challenge BMI’s pending merger in exchange for at least $25.4 million in BMI stock. This comes as Audacy makes its way through the Chapter 11 proceedings and addresses both the audit dispute and fee dispute Audacy has with BMI. Regarding the audit dispute over how many BMI shares Audacy owns,im Audacy agrees to pay BMI $550,000 in settlement of those claims. Audacy and BMI agree to resolve the fee dispute with 60 days of BMI’s merger. Based on the results of the 2017-2019 Audit, BMI asserted that Audacy owed approximately $1.68 million in fees to BMI. Audacy disputed BMI’s claim and, since 2020, has been negotiating with BMI to settle that matter and any potential claims relating to Audacy’s 2020 revenue subject to license fees. BMI has also asserted that Audacy owes approximately $9.26 million in unpaid license fees and accrued late fees, which Audacy disputes. Audacy says in its filing that this “Settlement is in the best interest of all stakeholders (including Debtors’ secured creditors, the only impaired parties) because it will, subject to the closing of the merger, bring in at least $25 million of funds to the Debtors’ estates (potentially within days of this settlement being approved), with the possibility for up to an additional $13.6 million in the following months.”

Industry News

iHeartMedia Expects $100 Million in Proceeds from BMI Deal

iHeartMedia, Inc announces that in connection with the previously announced acquisition of Broadcast Music, Inc (BMI) to a shareholder group led by New Mountain Capital, LLC, it expects to receiveim approximately $100 million of proceeds related to its equity interest in BMI, subject to approval of the transaction by BMI shareholders and customary regulatory approvals. iHeartMedia says it plans to use the proceeds for general corporate purposes, which may include the repayment of debt. The transaction is expected to close by the end of Q1 2024.

Industry News

TALKERS News Notes

RAB, BMI, and Mentoring and Inspiring Women in Radio, Inc announce that the 15th annual Rising Through the Ranks program is open for applications. It begins on August 1 with one virtual event from 12:00 pm to 3:00 pm ET prior to the participants meeting in person August 8 – 10 in Nashville. As in years past, BMI will offer 20 scholarships for this year’s program. The scholarships will cover the cost of the professional development course, which is geared toward fostering and educating the current and emerging female radio managers in broadcast radio. MIW board president Ruth Presslaff says, “Rising Through the Ranks continues to be a foundational part of the professional development of so many women. It is a transformative experience that MIW is so proud to be part of, along with the RAB and BMI. It’s also a whole lot of fun. Once again, we encourage women to apply for this wonderful opportunity and stay focused on rising through this industry.”

WBUR announces that NPR’s Beijing correspondent Emily Feng is the winner of the 2022 Daniel Schorr Journalism Prize for her “The Black Gate” story that debuted on NPR’s “Up First” podcast. For the story, Feng worked with language rights activist Abduweli Ayup and producer Phoebe Wang to examine China’s treatment of Uyghurs and other Muslim groups by following one man’s quest to reunite with his wife and children who’ve been detained by Chinese authorities.

Front Page News Industry News

Tuesday, April 19, 2022

Bingham Promoted at Salem Media Group. Rising from his vice president of mobile and digital acquisitions position to vice president of operations and business development at Salem Web Network is David Bingham. In this new role with Salem Media Group, Bingham will oversee operations of Salem Web Network and continue to drive business development. Bingham has been with Salem for ten years, initially as director of mobile before being promoted to vice president of mobile and digital acquisitions in 2017. Salem Web Network EVP Rick Killingsworth says, “Since joining us in 2012, David Bingham has been exceptional at spearheading numerous mobile app acquisitions and brand growth initiatives that have expanded Salem’s presence in the mobile computing space. David has proven himself to be a passionate leader and negotiations professional who has a legacy of coaching high performing teams and generating results for the business and our clients.” Bingham comments, “It is a time like no other in our company to work on exciting new initiatives. There are so many opportunities in video, subscription services, podcasting, as well as the continued tradition of outstanding content, to support our users in their daily walk. I am so fortunate to get to work with a high-level group of dedicated individuals. The future is very bright for Salem Web Network and Salem Media Group.”

 

Tavis Smiley and KBLA, Los Angeles to Mark Anniversary of Rodney King Verdict with Live Remote Broadcast. Station owner and air personality Tavis Smiley – with co-host Dominique DiPrima – will host a live remote broadcast on April 29 to remember the 30th anniversary of the acquittal of four Los Angeles police officers in the beating of motorist Rodney King. The KBLA, Los Angeles broadcast will take place at the intersection of Florence and Normandie which is considered “ground zero” of the civil unrest that followed. Smiley says, “Historic anniversaries, to my mind, are only worth pausing to commemorate if our reflections are instructive, informative and empowering for how to make America a nation as good as its promise.” KBLA says that Smiley and DiPrima will be joined by family members of King, community organizers, faith leaders, elected officials and everyday people to discuss, dissect and deliberate on the factors that led to a boiling point of civil disturbance, and if the city has healed from it. DiPrima adds, “We want to take this opportunity to amplify the voices of the African American community in this moment of solemn reflection and continue the quest for accountability.”

 

TALKERS News Notes. This Thursday at 7:00 pm ET, Townsquare Media’s “New Jersey 101.5” (WKXW-FM) is presenting the latest in a series of Town Hall broadcasts to help New Jersey residents navigate life in the Garden State. New Jersey 101.5’s Eric Scott will lead a panel of economists, business leaders, policy experts, and business owners to explore how the workplace has changed since the start of the pandemic, and how it will function moving forward. Scott says, “Both the physical workplace and the dynamic between employer and employee has changed. There are lessons to be learned from both sides.” The program’s on-air panel will feature Michele Siekerka, president and CEO of the New Jersey Business & Industry Association; Peter Chen, senior policy analyst with New Jersey Policy Perspective; and Maria Heidkamp, director of program development and a senior researcher at the Heldrich Center for Workforce Development at Rutgers University…..“The Lisa Wexler Show,” heard daily from 10:00 am to 12:000 noon on Connoisseur Media’s WICC-AM/W297CP, Bridgeport, Connecticut, wins five awards from the Connecticut Press Club’s 2021 Communications Contest. The program won First Place for Best Newscast: Radio; Second Place for Talk Show; and three Third Place awards for On the Scene Reporting, Radio & Television Interview, and Electronic Newsletter. Lisa Wexler comments, “I am thrilled that our show was honored by my colleagues at the Connecticut Press Club on a variety of topics. When Congressman Jim Himes came on our show the morning after he experienced what happened at the Capitol on January 6th, I felt that history was being made in real time. When callers related their stories of near-drowning incidents, we shared the importance of water safety. I thank the judges at the Connecticut Press Club for recognizing the importance of storytelling in the talk radio format.”…..Radio Advertising Bureau, BMI, and Mentoring and Inspiring Women in Radio, Inc., announce that the 14th annual Rising Through the Ranks will be held in 2022 as a hybrid event. The program will begin with two virtual sessions taking place on July 26 and August 2, prior to participants meeting in person August 9-11 in Nashville. As in years past, BMI will offer 20 scholarships for this year’s program. The scholarships will cover the cost of the professional development course, which is geared to foster and educate current and emerging female radio managers in broadcast radio. BMI VP, industry relations Dan Spears says, “BMI continues to be proud supporters of Rising Through the Ranks and the work our partners at the RAB and MIW do to support rising female executives in the radio industry. The scholarships provided by BMI give these talented women invaluable training from some of the top executives in the business. We’re so thrilled to have everyone back together again in Nashville this year and look forward to a successful event.” Find out more about Rising Through the Ranks here.

 

Washington, DC News Personality Wendy Rieger Dies at 65. Longtime WRC-TV, Washington “News4” anchor and reporter Wendy Rieger died on Saturday (4/16) after a long battle with brain cancer. Rieger, who had recently retired from News4 after 20 years as anchor of the 5:00 pm news, also worked in radio earlier in her career, serving at both public radio WAMU-FM and all-news WTOP in Washington. See News4’s video montage of Rieger’s career here.

 

Russia-Ukraine War, Mask Ruling/COVID-19, Midterms/Trump & the GOP, Extreme Weather/Climate Change, School Curriculum Battles, Elon Musk vs Twitter, and Weekend Shootings Among Top News/Talk Stories Yesterday (4/18). Russia’s intensifying attacks on Ukraine, NATO’s response, and the global economic effects of the war; a U.S. judge rules the airline mask mandate is illegal, keeping an eye on the BA.2 variant, and lockdowns in Shanghai and Hong Kong; the battle for control of Congress in November’s midterm elections and Donald Trump’s influence over the GOP; recent extreme weather events in U.S. and the debate over anthropogenic climate change; policies in several states designed to prevent discussion about non-traditional gender & family situations and critical race theory; Elon Musk’s continuing attempt to take Twitter private; and the weekend’s spate of shootings were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.