Tag: "financial covenants"
David Bellavia Named WBEN-AM, Buffalo Late Morning Host. The replacement for longtime WBEN-AM, Buffalo 9:00 am to 12:00 noon personality Sandy Beach is former afternoon drive co-host David Bellavia. Beach is retiring at the end of this month after a long career on the Buffalo airwaves. Bellavia co-hosted the Entercom news/talk station’s afternoon drive program with Tom Bauerle from 2016 through 2019, at which time he took a leave from the station to tour the country on behalf of the U.S. Army following his receipt of the prestigious Medal of Honor. Bellavia is a former U.S. Army Staff Sergeant who joined the United States Army in 1999. He’s been awarded the Silver Star for his actions during the Second Battle of Fallujah, the Bronze Star, three Army Commendation Medals, two Army Achievement Medals and the New York State Conspicuous Service Cross. He says, “I have a deep respect for Sandy Beach and am truly humbled to have my own program on WBEN. My goal is to completely reinvent how local talk radio is perceived and make WBEN the place where Buffalo comes together to start their day.”
Entercom Amends Credit Agreement. The company announces that is has entered into an agreement to amend the financial covenants and other provisions under its Credit Agreement solely for the benefit of its revolver lenders. During the covenant relief period, which extends through December 31, 2021, unless terminated earlier by Entercom, the Amendment provides for a covenant holiday for the quarters ending September 30, 2020 and December 31, 2020, among other modifications. Entercom president and CEO David Field says, “We are pleased to announce this credit facility amendment, which addresses the significant impact that COVID-19 has had on the economy and our advertising revenues. As previously announced, we have taken a number of actions to reduce costs and enhance our business model to both weather the storm and emerge stronger. We ended the second quarter in a strong liquidity position with $208 million of cash on-hand, up from $189 million at the end of March. During the 2nd quarter, we saw sequential month-over-month improvement in our revenue performance from April and we see the same pattern of month-over-month improvement in our pacing data for the 3rd quarter. Entercom is well positioned to fully participate in the recovery and the attractive growth opportunities in the audio space, with strong leadership positions in broadcast radio and podcasting, the fastest growing digital audio platform, unparalleled leadership in news and sports, and strong data and analytics capabilities. We will provide further comments on our performance and the outlook for the 3rd quarter during our 2nd quarter earnings call on August 7.”
June 2020 Analysis: Cume & Coronavirus. TALKERS magazine managing editor Mike Kinosian presents part one of a look at how cume (based on Nielsen Audio data from the June 2020 PPM survey) is shaking out for radio stations during the COVID-19 pandemic with today’s focus on the all-news format. Kinosian’s previous four analyses from the June 2020 survey have used weekly AQH share as the metric. Entercom’s WINS-AM, New York was the highest cume all-news station during the June PPM survey with 1.09 million. You can see how the rest of the nation’s all-newsers fared as well as rankings of all-news outlets based on cume increases from May 2020 to June 2020; stations by cume market rank; and more. See it all here.
COVID-19 Statistics & Projections, GOP Stimulus Plan, NJ Judge’s Son Slain, Presidential Election, Portland Protests, St. Louis Couple Charged, and Sports Leagues Openings Among Top News/Talk Stories Yesterday (7/20). The rapidly rising number of COVID-19 cases in numerous states and the projections for future cases; the battle between President Trump and GOP lawmakers in crafting a new stimulus plan; the shooting death of Judge Esther Salas’ son and the hunt for his killer; the November presidential race and the controversy over election procedures; the protests in Portland and President Trump’s use of federal troops in the city; a St. Louis couple is charged with weapons violations after aiming guns at protestors; and the attempts by U.S. pro sports leagues to start or continue their seasons were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
TALKERS News Notes. Sports talk personality Freddie Coleman re-ups with ESPN on a multi-year deal to keep him co-hosting the evening ESPN Radio show “Freddie and Fitzsimmons” with Ian Fitzsimmons. Coleman says, “I have been blessed beyond compare to have been with ESPN Radio for 16 years and that I will have a chance to add to it humbles me beyond words. To continue to keep loving what I do and doing what I love at ESPN Radio is something that I never take for granted.”…..Washington, DC sport talk outlet WSBN “ESPN 630 – The Sports Capitol” is joining the Virginia Sports Radio Network. Jake McCann is vice president and market manager for station owner Cumulus Media, he says, “We are thrilled to be the Washington D.C. area’s home for all the University of Virginia’s football and men’s basketball games. The school has a great tradition of excellence in athletics and in the classroom. There are many alumni in the area who will be delighted to hear the games as well as exclusive content we will be providing on ‘ESPN 630-The Sports Capitol.’”…..iHeartMedia and Tenderfoot TV are expanding their relationship to collaborate on nine new iHeartRadio Original Podcasts to air now through 2022. The deal kicks off with the second season of “Sworn,” Tenderfoot TV’s criminal justice system podcast that exposes the untold stories and hard truths behind major cases. Additionally, new investigative series podcasts for the slate will include “MLK Tapes,” produced in partnership with author Bill Klaber, co-creator of “The RFK Tapes,” set to premiere January 2021; and the next installment of the “Monster” podcast series, which has over 100 million downloads with the success of “Atlanta Monster” followed by “Monster: The Zodiac Killer,” “Monster Presents: Insomniac” and “Monster: D.C. Sniper,” set to debut early next year.
Music Radio News and Career Moves. The iHeartRadio Music Festival is on this year – its 10th – but the show will be enjoyed by fans remotely. It’s being hosted by Ryan Seacrest will feature live performances recorded on stages in Los Angeles and Nashville in front of a virtual audience that will include a Capital One Fan Wall of iHeartRadio station winners. The two-day festival will be streamed on The CW App, and CWTV.com, and broadcast on iHeartMedia stations nationwide on September 18 and 19 at 9 pm ET. The CW Network will broadcast the two-night televised iHeartRadio Music Festival on Sunday, September 27 (8:00 pm -10:00 pm ET) and Monday, September 28 (8:00 pm -10:00 pm ET). Artists performing will include: BTS, Coldplay, Kane Brown, with Special Guests Khalid, Keith Urban, Migos, Miley Cyrus, Thomas Rhett, Usher and more…..Neuhoff Media promotes Mike Shamus to vice president and general manager for its Lafayette, Indiana station group. Shamus was previously vice president of programming, cluster OM, and PD for country WKOA-FM. Company CEO Beth Neuhoff says, “Shamus, as we all know him, is an exceptional leader. His work with our award-winning programming team demonstrated his capacity for team building and getting the best out of people. When this position came available, he was the natural choice. I know he will lead this market to a new level.”…..Beasley Media’s classic rock WCSX-FM is working to raise $50,000 for Gleaners Food Bank. Morning show host Big Jim from Big Jim’s House will drive 27 hours on a rockin’ road trip from Detroit to Minnesota to raise the money with help from legendary artist Bob Seger. Big Jim will drive a Chevy truck (provided by Chevrolet) from Detroit to the North Star Bar in Minnesota where Bob Seger reportedly stopped and had a drink in his song, “Roll Me Away.” Big Jim will leave for Minnesota on Thursday, July 23rd and upon his return to the Motor City, Bob Seger and Chevrolet will make a $50,000 donation to Gleaners Food Bank of Detroit.