Cumulus Stock Moves from Nasdaq to OTC. That stands for “over-the-counter” and means that the stock is traded, instead of via a centralized exchange such as Nasdaq, by a dealer network. Cumulus Media was notified by Nasdaq of its de-listing due to the stock’s inability to remain above $1 for 30 consecutive trading days – something the company fully expected. In its 8-K filing with the SEC, Cumulus states, “The Company has been approved to have its Class A common stock quoted on the OTC Markets’ OTCQX market tier, an electronic quotation service operated by OTC Markets Group Inc. for eligible securities traded over-the-counter, and expects that trading of the Company’s Class A common stock will commence on the OTCQX at the open of business on November 22, 2017 under its current trading symbol CMLS. The transition to the quotation of the Company’s Class A common stock on the OTCQX will have no effect on the Company’s business or operations. The Company will continue to file periodic and other required reports with the SEC under applicable federal securities laws that will be available on the SEC’s website, www.SEC.gov.”
TALKERS News Notes. Cleveland sports talk personality Mark “Munch” Bishop is getting a beer named after him. Cleveland.com reports that the WARF “FOX Sports 1350” personality –also heard on WNIO, Youngstown and WNCO, Ashland-Mansfield – has been pining for a local brewery to make a craft cream ale and now the Goldhorn Brewery is stepping up to the plate. Cleveland.com writer Mark Bona – who appears on Bishop’s program every Friday for a segment called “Beer with Bona and Much, Much More” – writes that the beer is almost ready and soon the brewery will have a name for the cream ale…..Entercom president and CEO David Field made the announcement on the company’s newly acquired sports talker WIP, Philadelphia yesterday morning that the station and the NFL’s Philadelphia Eagles have renewed their broadcast rights deal for another seven years. The renewed deal means Merrill Reese and Mike Quick will call the games for the foreseeable future…..The nationally syndicated “Sterling on Sunday” show hosted by Walter Sterling announces new affiliates, including: KXNT, Las Vegas; WWLZ-AM, Elmira, New York; WQHL-AM/WJZS-FM, Live Oak, Florida; KBAR-AM, Burley, Idaho; and KZNU-AM/KAZZ-AM, St. George, Utah. Sterling says, “We are adding new affiliates every week and new advertisers. It is a successful roll out. December 10th marks a special show featuring radio legends telling their stories. Plus, December 10th will present a major announcement.”
Trump Defends Moore, Sexual Impropriety Allegations/Rose Fired, GOP Tax Plan/Individual Mandate Issues, North Korea Named to Terror List, Net Neutrality Rollback, AT&T-Time Warner Merger Challenged, Mladic Convicted of Genocide, David Cassidy Dies, Trump-Ball Feud, and NBA Action Among Top News/Talk Stories Yesterday (11/21). Embattled Alabama U.S. Senate candidate Roy Moore receives support from President Trump; the plethora of sexual impropriety allegations against public figures and the related firing of Charlie Rose by CBS; the Republican tax reform plan and the proposal to eliminate the ObamaCare individual mandate; President Trump puts North Korea on the list of state sponsors of terrorism; the FCC’s proposal to roll back the Obama administration’s net neutrality regulations; the DOJ challenges the merger of AT&T and Time Warner; former Bosnian Serb general Ratko Mladic is sentenced to life after genocide conviction; 1970s teen heartthrob David Cassidy dies at 67; the war of words between President Trump and hoops patriarch LaVar Ball over UCLA players shoplifting case; and the week’s NBA action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Music Radio News and Career Moves. Returning to Boston to serve as program director for iHeartMedia’s newly acquired classic rock WZLX is Chris Tyler. He was most recently programming the company’s rock WMMS and CHR WAKS “KISS FM” in Cleveland. He’s previously worked in Boston at CHR WXKS-FM “KISS 108” and hip hop WJMN “JAM’N.” iHeartMedia SVP of programming for Boston Dylan Sprague comments, “I am excited to bring Chris back to Boston to program WZLX. His knowledge and experience in the format, exceptional leadership and vision and, maybe most importantly, his knowledge of Boston and its legendary radio brands, uniquely qualify him to lead this heritage station and its iconic personalities.”…..In Baltimore, Francesca Presti joins the “Laurie DeYoung Morning Show” as a co-host on iHeartMedia’s country WPOC. She’ll work alongside Laurie DeYoung and Jeff St. Pierre. DeYoung says, “Francesca Presti is a force. Fierce Francesca is what comes to mind when I think of her enthusiasm and unique take on life. Baltimore will never be the same.” Presti was most recently with hot AC WBMX, Boston on the “Karson & Kennedy Morning Show” as a traffic reporter and associate producer…..Radio pro Ty Bailey is named assistant program director at iHeartMedia’s country WMZQ, Washington. She returns to Washington from the company’s rock WXTB, Tampa where she was program director and morning show host…..Cox Media Group announces new executive position appointments in seven markets, but only three of those markets have radio stations: Miami, Orlando and Jacksonville. In Orlando, Jason Meder is promoted to general manager of CMG Orlando, where he’ll report to market VP Paul Curran. Meder comes to Orlando from CMG Tampa where he was most recently director of sales for the radio group. In Miami, RVP Rob Babin promotes Ralph Renzi to general manager of CMG Miami Radio. He was most recently director of sales for the Miami radio stations. And in Jacksonville, market VP Dan Lawrie promotes Bob Longo to general manager of the operations…..Chicago media writer Robert Feder reports that Windy City radio pro Brooke Hunter has signed up with Hubbard Radio to host weekend programs on adult contemporary WSHE. Hunter was most recently on the air in Chicago on iHeartMedia’s AC WLIT…..Alpha Media’s Portland triple A outlet KINK is announcing that it is now “carbon neutral.” The station says that through a series of eco initiatives and completing an audit from sustainable consulting firm YR&G, it has become the first radio station in the United States to be named “carbon neutral.” Program director Sean Demery states, “Individuals doing small actions can pay large eco dividends when realized as a large group. KINK is the loudspeaker, but it’s our community that has the power to make a difference.”