Tag: "capital structure"
Talk Host Dominic Salvia Wins $75k Settlement from Wisconsin in Protest Arrest Case. Radio personality Dominic Salvia – co-host of the “Devil’s Advocates” radio show heard on iHeartMedia’s progressive talker WXXM-FM, Madison “92.1 The Mic” with Mike Crute – won a settlement of $75,000 from the State of Wisconsin in connection with his arrest covering protests in 2011. Salvia contends his arrest by State Capitol Police while photographing the arrests of protesters was unlawful since he was a journalist covering – not participating in – the protests. Crute tells the Milwaukee Journal Sentinel that Salvia keeps $27,500 and attorney Jeff Scott Olson gets $47,500. Olson is also promising to file a class action suit against the state representing some 100 protesters relative to the 2011 arrests. Read the Journal Sentinel coverage here.
iHeartMedia Promotes SVP/Midwest Programming Tony Banks to Central Division Director of Talent Development. Effectively immediately, Tony Banks moves up from his SVP/Midwest programming to the new director of talent development for the Central Division. The company notes that in the Central Division, it has more than 300 radio station brands spanning 52 markets. Banks’ duties will include discovering and recruiting new on-air talent as well as coaching, training and mentoring existing talent. He’s expected to work closely with Tony Coles, EVP of programming for the Central Division; and Dennis Clark, VP talent development for iHeartMedia. Coles states, “The role we created for Tony Banks reflects iHeartMedia’s continued commitment to investing in and growing our on-air talent. Banks’ experience as both a major market talent and a programmer makes him a natural choice. He is a gifted and passionate talent coach, and Dennis Clark and I look forward to working closely with Tony to maximize the potential of our talent.”
Kimberly Collelo Named Executive Producer of Bubba the Love Sponge Show. The Bubba Radio Network names Kimberly “Jabberjaw” Collelo the new executive producer of the “Bubba The Love Sponge Show.” Bubba notes that Collelo – who goes by the name “Jabberjaw” on-air and is also known as “Milwaukee Kim” on Bubba’s “Uncensored Show” which she co-hosts alongside Bubba every week on Bubba Army Radio – is the first female executive producer in the history of the show. “This is my first female executive producer that I’ve ever had in thirty years in radio. Maybe that is the missing element – Kim’s womanly touch might be exactly what the BRN needs.”
iHeartMedia Alerts SEC It May End Discussions with Debt Holders to Amend Credit Terms. Parent company iHeartCommunications filed an 8-K report with the Securities Exchange Commission stating that it has been negotiating with certain debt holders to restructure said debt and, after a series of proposals and counterproposals, the company says, “Given the significant gap between the proposals, the Company is assessing whether it will continue discussions.” Bloomberg is reporting that the debt holders it’s been negotiating with are led by Franklin Advisers Inc. – which holds $6.3 billion of term loans – to restructure about $10 billion in debt that’s coming due over the next three years. iHM spokeswoman Wendy Goldberg told Bloomberg, “We continue to evaluate various opportunities to strengthen our capital structure for the benefit of our stakeholders, and we remain focused on positioning iHeartMedia for long-term growth.” Bloomberg reports that iHM and Franklin have been negotiating an interest rate cut tied to an extension of the term with the guarantee that Franklin would be made whole at the expense of unsecured bonds, if necessary. See the Bloomberg piece here.
Benghazi Report/Hillary Emails Investigation, ‘Brexit’ Aftermath, the Presidential Race, Istanbul Terror Attack, SCOTUS Overturns McDonnell Conviction, Rio Olympics Troubles, and MLB Action Among Top News/Talk Stories Yesterday (6/28). The release of the final GOP Congressional investigation into the 2012 attacks in Benghazi, tied with the ongoing FBI investigation into Hillary Clinton’s use of a private email server for State Department business; the effects on world markets and global political relationships after Britain’s vote to leave the EU; the activities of presidential candidates Hillary Clinton and Donald Trump; the deadly suicide bomber attacks on the Istanbul airport; the Supreme Court’s overturning of the bribery conviction of former Virginia Governor Bob McDonnell; Zika virus concerns and infrastructure troubles affecting the Rio De Janeiro Summers Olympics; and MLB action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Cleveland GOP Convention to Feature ‘Largest Talk Radio Operation in History.’ The editorial director for radio for the GOP convention in Cleveland is talk radio pro Scott Hogenson, who says the 2016 Republican Convention will include the largest talk radio operation in convention history. Hogenson says, “As of June 29, there were more than 140 confirmed radio broadcast operations for the convention, and more will be confirmed this week. The previous record for radio participation was the 1996 convention in San Diego, with about 135 broadcasters on what was then called radio row. The previous convention in Tampa included about 110 talk broadcasters. Broadcasters originating from media row in 2016 will reflect the entire spectrum of interests and opinion: conservatives, liberals, libertarians, even sports radio will originate programming from Cleveland’s media row. It reflects the changes in media over the years and combines radio, streaming TV, blogs, websites, Internet radio, and broadcast television.” Hogenson is credited for developing the first-ever GOP radio row at the 1992 convention in Houston and has worked at every convention since. He adds, “It’s a great honor to be part of this historic event and we’re putting together a great radio operation. It’s really exciting to be working with a terrific crew and a record number of broadcasters for this convention.” Hogenson says the deadline for applying for credentials to cover the convention has expired. However, if shows not attending the convention are looking for interviews during the convention July 18 through 21, they can call him at 703-967-6298 or email Hogie57@gmail.com.
Odds & Sods. The progressive politics talk show “The Young Turks” – hosted by Cenk Uygur and Ana Kasparian – is now available via audio aggregator TuneIn. The audio version of the show that airs on YouTube via TYTNetwork.com will appear the following morning at 9:00 am ET. “The Young Turks” started on radio in 2002…..Westwood One and Veritone Media announce a new service for local radio stations called Veritone…powered by Westwood One. It’s a cloud-based, cognitive audio platform that automates the capture and tagging of content and live read endorsements, making them accessible to advertisers in near real-time. The companies say the “user-friendly platform provides a dashboard to access all of a station’s programming – captured to the cloud – that is transcribed to text, searchable, and sharable with a one-click audio link and audience metrics….. jācapps announces that is introducing App EverywhereSM, that allows mobile apps for radio stations to be coded to appear in automobiles that have Android Auto, SmartDeviceLink and, pending approval from Apple, its CarPlay system. jācapps COO Bob Kernen says, “Our mobile app team has been dedicated to developing solutions that will ensure that broadcasters have presence in these entertainment systems. It’s a major priority for us. Jacobs Media has invested a lot of time in this space, including the DASH Conference. This is an incredibly important opportunity for broadcasters and we’re extremely pleased that we were able to crack the code.”…..Cox Media Group’s Julia Wallace is heading into academia. The current Ohio market vice president – who announced her retirement from the company earlier this month – is being named as the Frank Russell Chair for the Business of Journalism at Arizona State University’s Walter Cronkite School of Journalism and Mass Communication. Wallace will begin teaching classes on the future of news, new business models and innovative ways of thinking about journalism at the Cronkite School in January.