Tag: "Cumulus Media Inc."
A Complex Web of Debt. There’s little reason to wonder why large radio companies are trying to find every available dollar – and that is most visible to the industry and the public in the form of reductions in force – when we read today’s news of Cumulus’ bankruptcy filings. According to Bloomberg, a subsidiary of Cumulus Media Partners (which Cumulus Media Inc finished purchasing in August) — AR Broadcasting Holdings — was put into Chapter 11 bankruptcy as it owes creditors as much as $100 million with assets of between $10 million and $50 million. AR Broadcasting Holdings consists of stations in San Francisco, Houston and Dallas. AR Holdings states it has a prepackaged plan “supported by 100 percent of one class of creditors that voted for the restructuring proposal.” Another Cumulus subsidiary, CMP KC LLC – owner of two stations in Kansas City and two in Houston – has been in default on debt. It also is filing a pre-packaged bankruptcy protection plan that will cut the debt from almost $95 million to about $20 million and lenders in turn will end up with equity in the stations.
WBAL, Baltimore’s Ron Smith Ends Chemotherapy. Baltimore talk radio legend Ron Smith announced Thursday (11/17) that he will continue to host his daily talk show on the Hearst news/talk station he’s worked at as a host for 27 years as long as he can, but he is ending his chemotherapy. Smith announced on October 17 that he was diagnosed with pancreatic cancer that has spread to other organs. The 69-year-old personality said at the time his doctors believed he had a chance to beat the disease with treatment. However yesterday he told his listeners he would end chemo and receive only palliative care.
The RTDNA Asks for Electronic Coverage of SCOTUS Health Care Case. When the United States Supreme Court hears arguments on the constitutionality of the Obama Administration’s health care law, the RTDNA hopes to be able to have TV cameras and audio recording devices in the chamber. RTDNA chairman Kevin Benz writes to the Court, “Health care overhaul has divided the nation since it was signed into law. The Court’s ruling undoubtedly will shape the 2012 presidential campaign and most certainly will serve to define Congress’ ability to address national issues. There is no better time than in anticipation of this watershed case for the Supreme Court justices to suspend the ban on cameras in the courtroom and to allow live electronic coverage of this and other proceedings of keen interest and import to the American public.” It’s unlikely the Court will allow this as it historically has had little interest in putting itself into the mainstream electronic public media landscape – no matter how convincing the argument for such coverage may be.
Canadian Freedom of Speech Case to Hit Courts. Damian Goddard was fired from Toronto-based Sportsnet in May after firing off a Tweet that the only “true marriage” is that between a man and a woman. Goddard is a devout Catholic and believes he has “2,000 years of Christian history” backing him up. Sportsnet claims it intended to fire Goddard before the Tweet and has documentation of that but Goddard’s attorney says he’s yet to see any such documentation. What this appears to come down to is Canada’s intense restrictions on free speech. The six-year-old law that made gay marriage legal in Canada even contains a clause that clearly states citizens have the right to freedom of conscience, religion and speech with regard to this matter. One attorney anonymously tells the National Post, “Hate speech needs to be related to inciting violence, not hurting feelings.” The Canadian courts will eventually have to rule on whether citizens – including broadcasters – have the right to express their beliefs if done so responsibly.
TALKERS Weekly Affiliate Roundup. The Talk Radio Network/Washington Times produced “America’s Morning News” with John McCaslin and Dana Mills adds WLVJ, Boynton Beach, Florida; KEWI, Little Rock; WRCG, Columbus, Georgia; and WFDM, Fort Walton Beach, Florida…..America’s Radio News Network has its “Afternoon Edition” with Ernie Brown picks up WCFO, Atlanta; WFBL, Syracuse; and WUTI, Utica…..The “Free Talk Live” Sunday evening edition with Mark Edge and Stephanie is added to the schedule at WWNC, Asheville, North Carolina…..Dial Global’s Clark Howard joins the lineup at KVI, Seattle and WIBX, Utica…..Dial Global’s “Jill on Money” with Jill Schlesinger adds WMGG, Dunedin, Florida and WDNG, Anniston, Alabama.
Catching Up with Regis! ABC News Radio’s Andrea Dresdale (r) interviews TV personality Regis Philbin (l) as he makes his way from an appearance on “The View” to the set of “Live with Regis and Kelly” for one of his final press conferences as co-host of the program. Today is the 80-year-old Philbin’s last program as he retires from the daily morning talk program he’s hosted since it went from a local New York show into national syndication in 1983. Philbin successfully morphed from a game show host to talk show host and holds the Guinness Book of World Records top spot for most time spent on television – almost 17,000 hours!
‘Occupy’ Shutdowns/Protests Top Talk Radio Topic for Week of November 14-18. The closing of many of the nation’s ‘Occupy’ encampments and the resulting protests landed atop the Talkers TenTM chart of the most-talked-about stories on news/talk radio this week. Following at #2 is 2012 presidential race. At #3 is the European debt crisis and the related financial markets activity followed by the Penn State scandal at #4. The Talkers TenTM is the result of ongoing research from TALKERS magazine and is published every Friday at Talkers.com. View the entire chart by clicking on the banner below.