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iHeartMedia Voluntarily Prepays $250 Million Loan. The company announces that its indirect, wholly-owned subsidiary, iHeartCommunications, Inc., has successfully completed the previously announced voluntary prepayment of a portion of both its $2,070 million Term Loan and its $446 million Incremental Term Loan, utilizing cash on hand, while concurrently repricing the Incremental Term Loan at a new rate of LIBOR + 3.25%. The prepayment was applied to the Term Loan and the Incremental Term Loan on a pro-rata basis, resulting in $206 million being used to prepay the Term Loan and $44 million to prepay the Incremental Term Loan. The interest rate on the remaining $402 million balance of the Incremental Term Loan was lowered by 100 basis points, including the impact of a 25-basis points LIBOR floor reduction. The prepayment and the new rate are expected to save iHeartMedia approximately $13 million in interest expense on an annualized basis.
Emmis to Cease Broadcasting on WFNI-AM After Agreeing to Transmitter Site Deal. According to a report by Alex Brown at Inside Indiana Business, Emmis Communications will shut down the 1070 AM signal of sports talk WFNI, Indianapolis “The Fan” after August 1 because it has sold a part of the transmitter site. The company will continue to broadcast “The Fan” on WIBC-HD2 and FM translators W228CX at 93.5 and W298BB at 107.5. Emmis founder and chairman Jeff Smulyan says, “As long-time owners of 1070, we are working diligently on finding the next great use for the signal. We were offered a wonderful opportunity to monetize the property and felt it was our obligation to explore that. Ultimately, it made the most sense.” Emmis tells IIB that “it had the tower site rezoned for mixed-use commercial, office, and residential developments more than a year ago. The entire site covers 70 acres on Perry Worth Road near I-65 in Whitestown and additional parcels are currently listed for sale.”
Music Radio Royalty Update: Are Labels Hastening ‘The Day The (free) Music Died?’ — Battle lines are drawn over performance payments FMs fear. And dueling congressional actions demonstrate Washington-speak 101: “Fairness” vs. “Freedom.” On his TV show “The Big Picture,” consultant and TALKERS columnist Holland Cooke (above, center) discusses with Talkers Radio GM David Bernstein (left) and Texas station owner Paul Gleiser (right). And for Talk stations, how’s Life-after-Limbaugh? Panelists react to a clip from Michael Harrison’s Fireside Chat with Bill O’Reilly at the June 11 TALKERS 2021 Conference at Hofstra University. Watch it here.
SRN’s Eric Metaxas Interviews Mike Pompeo at Turning Point USA’s Student Action Summit. Pictured above is Salem Radio Network host Eric Metaxas (left) with former U.S. Secretary of State Mike Pompeo during their live broadcast interview from Turning Point USA’s Student Action Summit in Tampa yesterday (7/19). This year’s event attracted more than 3,000 high school and college activists and included speakers such as Pompeo, Congressman Madison Cawthorn (R-NC), Salem Radio Network host Dr. Sebastian Gorka, and Turning Point USA founder and SRN talk host Charlie Kirk.
TALKERS News Notes. Denver talk radio host Steffan Tubbs was interviewed recently by KCNC-TV, Denver about his bout with COVID-19. Tubbs is afternoon drive personality on Salem Media Group’s news/talk KNUS, Denver and he told KCNC-TV that he was not vaccinated, spent a week in the hospital and missed 51 days of work. While he says he’ll not tell others to get vaccinated, he did say, “To those who think COVID is a hoax, you’re crazy”…..Chicago media writer Robert Feder reports that Aisha Jefferson is promoted from her part-time digital content producer role at Audacy’s all-news WBBM-AM/WCFS-FM to full-time producer. She joined the station in 2019. WBBM brand manager Ron Gleason writes in a memo to staffers, “Aisha has been with us for a couple years and has patiently awaited this well-deserved opportunity.”…..SiriusXM announces a week-long tribute to legendary comedienne Joan Rivers. The SiriusXM Comedy Greats channel will play exclusive, never-before-released recordings from the final 20 years of Rivers’ career. SiriusXM says that now, for the first time ever, each day throughout the week fans will get to hear some of Rivers’ best stand-up moments. The special will include material from Rivers’ performances in London, Boston, West Palm Beach and more…..The “Motley Fool Money” show starring host Chris Hill adds Midwest Communications‘ WHTC-AM/W259CO, Holland, Michigan as its newest affiliate station.
PodcastOne to Launch New Show ‘Cheating: When Love Lies.’ The new podcast from PodcastOne is called “Cheating: When Love Lies” and his hosted by Jillian Hamilton. PodcastOne says it’s a “deep dive into the complex emotions surrounding these secret unions.” Creator and host Hamilton delves into the taboo topic of cheating and asks the hard questions about affairs: how common are they, who’s having them, and why? These questions illicit unexpected answers that reveal both men and women as people actively seeking something – validation, escape, understanding, vengeance, thrill, love, sex, and romance – outside of committed partnerships. “Cheating: When Love Lies” resists the condemnation of affairs as uniquely wrong or bad and instead considers their usefulness in learning as much about relationships as we learn about ourselves.
Audacy Debuts New Podcast Starring Carmelo Anthony. Top-10 all-time NBA scorer, 10-time NBA All-Star, and three-time Olympic gold medalist Carmelo Anthony today announced that he and his multi-platform content company Creative 7 are partnering with Audacy’s Cadence13 to launch his viral, wine-focused YouTube series, “What’s In Your Glass?” On the podcast, Anthony invites listeners to sit in on intimate chats with leading guests from the worlds of sports, wine, business, entertainment, music, politics, and more over a glass (or two) of wine. Notable guests include Dallas Mavericks owner Mark Cuban, songstress Andra Day, Oscar-winning filmmaker Shaka King, rapper T-Pain, NBA star JJ Redick, and more.
COVID-19, Twitter Suspends Marjorie Taylor Greene, U.S. Blames China for Microsoft Hack, Voting Legislation/Texas Dems Case, Biden Infrastructure Bill, Urban Crime Wave, January 6 Investigation, Western Heat and Wildfires, Bezos Space Trip Among Top News/Talk Stories Yesterday (7/19). The rising rate of COVID-19 cases in all 50 states and the stalled rate of vaccinations; Twitter temporarily suspends Georgia Republican Marjorie Taylor Greene for spreading COVID misinformation; the Joe Biden administration publicly blames China for the recent hack of Microsoft’s exchange email server; the numerous state laws toughening voting requirements and the Texas Democrats who fled the station to avoid voting on that state’s bill; this week’s debate on the $1 trillion Biden infrastructure bill; the soaring rate of violent crime in many of America’s big cities; the investigation into the January 6 Capitol attack and the sentencing of the first to be prosecuted; the heatwave and wildfires plaguing the U.S. West; and billionaire Jeff Bezos’ trip into space were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Salem Media Group Seeks Talk Host for Christian Talk KKLA-FM, Los Angeles. Salem Media Los Angeles is looking for the next host for its live daily talk show on Christian formatted 99.5 KKLA. The company says: “This is talk radio with a difference. It’s a Christian perspective on news of the day. The average length of time hosts have held this position is eight-plus years, and our current host is moving on to other ministry work. Affinity for and understanding of the target audience of Christians, or spiritual ‘seekers’ is necessary. Impacting the culture and lives can be deeply satisfying, so much more so than many typical ‘shows.’ If you are still reading this posting, tired of less meaningful hosting, if you are ready for a change, if you are intrigued by this opportunity, pray about it and don’t hesitate to get in touch for more details. This show can tend to be off the radar of ‘general market’ talk radio, so in case you are wondering, this is a legit afternoon drive talk show, topics, guests, listener calls. Salem is a public company, we are not a church, we are a commercial radio station. Most of us here have a background in competitive ‘general market’ radio. And we have been attracted to working for Salem because of the difference it makes in our own lives, and the lives of our audience base and communities. The show is heard in both Los Angeles and San Diego during afternoon drive each weekday. It’s a huge opportunity for the right person. We would enjoy speaking with you if you have any questions.” Contact KKLA program director Rodney Miller at: Rodney.firstname.lastname@example.org.
KNBR, San Francisco Seeking Full-Time Writer/Web Producer. San Francisco sports talker KNBR is seeking a full-time writer and web producer. The station says: “As a member of the San Francisco Cumulus digital team, the writer and web producer will be responsible for covering Bay Area sports as a writer, reporter and content creator, while also supporting the KNBR digital team’s efforts in creating digital content related to the KNBR radio station. The job will include but is not limited to writing, on-site reporting, interviewing, editing, headline writing, social media skills, going on-air or on-camera, collaborating on digital content both within the department and with other departments such as programing, sales and promotions.” See more information about the position and apply here.