Tag: "Forum Communications"
iHeartMedia Third Quarter Revenue Down 22%. The earnings report from iHeartMedia for the third quarter of 2020 shows the media company in a slightly better situation than some of its similar-sized competitors as revenue was $744 million, a decrease of 22% over the same period in 2019. (Cumulus Media and Entercom were both down 30% and Beasley was down 25%.) iHeartMedia says that its third quarter revenue was up “53% sequentially, moving from down 47% [year-over-year] in Q2 to down 22% [year-over-year] in Q3. The company adds that October revenue increased 2%, benefitting from significant political advertising and digital revenue increased 17% [year-over-year]. Breaking the report down by segment, broadcast revenue declined 29% from $573 million in Q3 2019 to $404 million this year but increased 66% quarter-over-quarter. Networks revenue declined 26% from $160 million to $119 million but increased 24% quarter-over-quarter. Digital revenue increased 17%, from $97 million to $113 million, led by a 74% increase in podcasting revenue. iHeartMedia posted a loss of $32 million in the third quarter of 2020 compared to the net income of $12 million in Q3 of 2019.
iHM’s Pittman: Podcasting Already Profitable for Us. During yesterday’s investors conference call, iHeartMedia CEO Bob Pittman explained the success of its podcasting segment. He said, “Podcasting continues to be our strongest performing business line, reflecting the fact that we built iHeart into the number one commercial podcast publisher in America, with 252 million downloads a month as of September, which is up 71% year-over-year. In Q3, as measured by Podtrac, we were number one in downloads each month. Our audience continues to be more than twice the size of the next largest commercial podcaster. And we extend that our lead over all other ranked podcasters. Let me share with you our model. We partner with the best content creators in the world – some of whom are our very own radio talent – distribute their content to the largest audience possible without a paywall, and use the unparalleled scale of our broadcast radio business as a built-in marketing machine to drive engagement with our podcast shows. We feel this is an important part of our secret sauce. It’s how we continue to build hit podcast after hit podcast, and how we continue to grow our leadership position. According to Podtrac’s latest data, not only are we number one overall, but we currently have the most shows featured across all categories, and we have ranked shows featured in all 19 possible categories, the most among all publishers. Let me be clear, podcasting is already a profitable business for us, and has an EBITDA margin that is higher than the overall company margin. Our podcast business is advertiser supported, it’s not subscription based, and it’s not behind a paywall, which enables our creators to share their passion with the widest audience possible, as we distribute their podcast not only on the iHeartRadio app, but across as many other distribution platforms as possible.”
Entercom Closes on $32 Million Acquisition of QL Gaming Group. According to a press release, Entercom Communications’ acquisition of sports data and iGaming affiliate platform QL Gaming Group will give Entercom “unrivaled data, analytics, and insight-driven content to Entercom’s best-in-class sports broadcast stations, influential podcasts, and RADIO.COM.” The QLGG technology portfolio includes sports betting data and analytical capabilities (BetQL), daily fantasy sports (RotoQL), simulation-based sports outcome predictions and game forecasting (AccuScore), and comprehensive analytical coverage of the ATP and WTA Tours (TennisInsight.com), each with respective subscriber base and licensing opportunities. Entercom president and CEO David Field says, “As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform. Integrating QL’s analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans. The acquisition builds on our track record of digital growth and further enhances our direct-to-consumer technology portfolio with data and analytics capabilities, while also adding an innovative new subscription offering to our platform.” Justin Park, QLGG co-founder and CEO, will continue to lead the business reporting to Entercom president of sports Mike Dee and Entercom chief digital officer J.D. Crowley. Entercom adds that in 2021, under the company’s first full year of ownership, QL Gaming Group is expected to generate approximately $12 million in revenue with an EBITDA margin in the high 20s.
Flag Family Media Partners with Forum Communications to Operate WDAY-AM, Fargo. A deal between Flag Family Media and Forum Communications will give the former “an extensive role in WDAY-AM’s day-to-day operations and provides an eventual path to ownership.” Flag Family Media owns news/talk outlets WZFG, Fargo “AM 1100 The Flag” KTGO, Tioga, North Dakota “AM 1090 The Flag.” Both of Flag Family Media’s principals – Steve Hallstrom and Scott Hennen – have worked at WDAY-AM in the past. Forum president and CEO Bill Marcil, Jr says, “This partnership allows us to focus our attention on our in-depth TV, digital, and print news operations while still sustaining a strong local radio presence in the region. We know Flag Family Media will honor the legacy of WDAY-AM and are looking forward to seeing how they transform our region’s radio experience.” Scott Hennen adds, “This is an extremely significant day for our company, and we look forward to learning from, and working with, some great professionals at WDAY Radio. Steve and I can’t wait to roll up our sleeves and bring some energy and creativity to this legendary radio station.”
WOR, New York’s Michael Riedel Publishes New Broadway Book. WOR, New York morning drive co-host Michael Riedel has released his second book, Singular Sensation: The Triumph of Broadway (Avid Reader Press/Simon & Schuster, 2020), that chronicles “a transformative decade on Broadway, featuring gripping behind-the-scenes accounts of shows such as Rent, Angels in America, Chicago, The Lion King, and The Producers. In this book, Riedel presents the drama behind every mega-hit or shocking flop, bringing readers into high-stakes premieres, fraught rehearsals, tough contract negotiations, intense Tony Award battles, and more. From the bitter feuds to the surprising collaborations, all the intrigue of a revolutionary era in the Theater District is packed into Singular Sensation. Broadway has triumphs and disasters, but the show always goes on. Riedel, who co-hosts the WOR morning show with Len Berman, says, “I’m a newspaper guy who’s become a radio guy. It’s been my great pleasure to host the morning show with Len Berman on WOR for nearly three years. Len spent his life in sports. I spent mine on Broadway. We certainly talk a lot about politics and current events, but variety is the spice of life, so sports and Broadway are always in the mix. Broadway’s going through a tough time right now, but my book, recounts a better time – the 1990s. I have no doubt that Broadway will be back one day, and Len and I will be there to cheer it on.”
TALKERS News Notes. As eyes and ears shift to Georgia for the January 5 runoff elections to decide that state’s two U.S. Senate races, Salem Radio Network talk host Mike Gallagher’s syndicated late morning talk show will “parachute into Georgia in December” as he launches a “Save The Senate” initiative. Gallagher will use Salem’s WGKA-AM, Atlanta “AM920 The ANSWER” as his December base to follow what promises to be the most expensive runoff election in U.S. history. Gallagher says, “This pair of runoff elections in Georgia will be enormously consequential for America. I’m eager to originate my show from the studios of ‘AM 920 The ANSWER’ in Atlanta for a number of days in December, highlighting the dramatic differences between the Republicans and the Democrats in the race. It is all-hands-on-deck for Georgia!”…..The Cincinnati Enquirer reports that Cincinnati Public Radio’s WVXU-FM had to shut down its operations after a staffer tested positive for COVID-19. As a result, the station is without much local content until further notice. It posted to its website: “Our programming is being provided through a national feed with limited local information. We apologize for this inconvenience and are doing everything possible to maintain the service you expect. We will return to normal operations as quickly as it is safe to do so.”…..Cumulus Media’s Westwood One is presenting the 2020 Masters Tournament with exclusive hole-by-hole coverage beginning Thursday (11/12) through Sunday (11/15). The 84th Masters Tournament from Augusta National Golf Club is being played in November for the first time…..San Francisco public news/talk personality Michael Krasny is retiring from his position with KQED-FM where he’s been host of the late morning “Forum” program for almost 30 years. His last program will be on February 15, 2021. He says, “I want to thank all of the listeners, guests and exceptional colleagues I’ve had the great fortune to encounter over the years as host of Forum. I’ve been unusually fortunate to sustain such a long career serving the Bay Area in a role that allows me to participate in such rich and thoughtful conversations about the topics of our times.”
Biden Transition Process/Trump Refuses to Concede, Barr Orders ‘Irregularities’ Investigations, COVID-19 Stats & Projections, Pfizer Vaccine, SCOTUS Obamacare Case, Trump Fires Esper, and Georgia Runoff Elections Among Top News/Talk Stories Yesterday (11/9). President-Elect Joe Biden proceeds with the transition process while President Trump refuses to concede the election; Attorney General Bill Barr orders Justice Department election crimes office to investigate voter “irregularities”; the fast-rising number of COVID-19 cases in the U.S. and in Europe and projections for fall and winter cases; Pfizer announces its COVID vaccine is 90% effective; the Supreme Court begins hearing arguments on the Affordable Care Act; President Trump fires Defense Secretary Mark Esper and appoints Christopher Miller acting secretary; and the January runoff elections for Georgia’s two U.S. Senate seats 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. Country radio on-air pro Brooke Taylor is named midday host at iHeartMedia’s WSIX-FM, Nashville “The BIG 98.” Taylor was most recently with the company’s Chicago country station “BIG 95.5” until that station’s recent flip to a rock format. Taylor will continue to host the night show for iHeartMedia Denver’s “107.7 The Bull” and broadcast on several iHeartCountry stations across the country. She says, “When I set out to work in country music, one of the first things I prayed for was to be in Nashville one day, and the fact that this is becoming a reality is honestly a dream come true. I can’t wait to join an already incredible team at ‘The BIG 98’ and to represent the iHeartCountry brand.”…..Alpha Media Lincoln names Joe Dobbins, a.k.a. JDub, content director for CHR KFRX. JDub comes to Lincoln from Alpha’s CHR WDJX, Louisville where he was content director and afternoon show host. Alpha Media Lincoln operations manager Rob Kelley comments, “Joe is an outstanding programmer with outstanding vision. He is the perfect leader for our staff and for the brand of a great heritage CHR like KFRX.”…..iHeartMedia’s nationally syndicated “The Breakfast Club” announces that its fourth annual #Change4Change broadcast will feature a day of giving to help listeners in need. Traditionally a radiothon, this year’s event will grant wishes to listeners experiencing hardship. #Change4Change will broadcast on Thursday, November 19, 2020 on hip hop WWPR, New York “Power 105.1” and across more than 77 affiliates of “The Breakfast Club.”…..WXKB, Fort Myers “B103.9FM” morning personality and Army veteran Jason “Big Mama” Jones, in conjunction with ABC 7, raising awareness and support for Home Base Southwest Florida Veteran and Family Care on Veterans Day (11/11). Jones also hosts Beasley Media Group’s “Bravery Network,” a weekend program dedicated to shining a light on important issues and services available for veterans and their families. He says, “I am very excited about this partnership. Being able to use the power of radio and television to help raise awareness and money for the veterans of Southwest Florida. I am planning some ‘star’-studded guest for the day that will not only make show informative but very entertaining as well.”…..The CHR evening show “Party LiveLine!” partners with Sun Broadcast Group effective immediately. The program was created by John Garabedian and his hosted by Mason Kelter. SBG chief development officer Rich O’Brien says, “Broadcasters are worried about the loss of TSL among 18-34-year-olds, who spend extraordinary amounts of time with streaming services on their mobile devices. Add to this the negative effects which RIFs and voicetracking have had on the ratings of Top 40 stations, and until now there were no good alternatives. That’s why we are so excited to be offering this breakthrough Top 40 night show which is 100% live and interactive.”
Cumulus Creates New Vice President, Programming Partnerships Position; Names Aaron Roberts to Post. One week into Mary Berner’s Cumulus Media CEO tenure, a new multi-media programming position is created and the company’s Aaron Roberts is elevated to the new post. The official title is vice president, programming partnerships for Cumulus Media, Westwood One and NASH. Roberts has been Atlanta-based national director, special projects for the company for the past three years. He will continue to work in Atlanta. SVP of content and programming Mike McVay states, “Aaron has performed beautifully in the difficult position of serving two masters. What he does impacts both art and commerce. He will work closely with both SVP, brand partnerships Tommy Page and me.” Roberts adds, “It’s an exciting time at Cumulus Media as we continue to develop first-in-class original on-air, digital and event content. I look forward to working closely with our tremendous partners and the entire partnerships team in Atlanta, New York, Los Angeles and Nashville.”
ESPN to Cut Approximately 300 Staffers. Sports media giant ESPN is releasing statements confirming the reports that it will cut some 300 positions within the company over the next few days. ESPN chief John Skipper says in a memo to employees that the company carefully considered each job cut and that staffers will receive at least “60-days’ notice, a severance package reflective of their years of service, and outplacement benefits to help them find future employment.” Earlier, BloombergBusiness reported the rumored cuts and wrote that escalating programming costs and a drop in television viewers as two reasons for the 4% reduction in the workforce. It’s not clear how the cuts would affect the ESPN Audio division since changes to the slate of programs heard on ESPN Radio were finalized last month after the departure of Colin Cowherd for competitor FOX Sports. The Bloomberg piece notes that SNL Kagan reported that ESPN’s cable TV division has lost some 4 million subscribers over the past four years.
Nielsen Reports Q3 Revenue Up 5% on Constant Currency Basis. The third quarter of 2015 saw revenue of just over $1.5 billion for the global ratings giant. Nielsen reports revenue was down 2.6% due to the impact of foreign exchange, but up 5% on a constant currency basis, compared to the third quarter of 2014. Nielsen CEO Mitch Barns says in a press release, “Nielsen’s third quarter results exemplify our strong value-generating business model with revenue growth of 5%, consistent margin expansion across both our Watch and Buy businesses on a constant currency basis, and record quarterly free cash flow generation, up 19% over last year. Our growth was driven by many important competitive wins all over the world. Our Buy business, which grew 4.1%, had its fifth consecutive quarter of margin expansion, both on a constant currency basis. Our Watch segment grew 6.1% on a constant currency basis due to strength in Audience Measurement, as our clients embed our digital measurement and analytics into their day-to-day decision-making.” Barns also reports that it is closing in on completion of its goal of rating total audiences. “The initial release of Digital Content Ratings has gone smoothly and we’re pleased with the feedback we’ve received as it is the final piece of our Total Audience Measurement framework. We know how important the execution of our product roadmap and the subsequent industry adoption of our solutions are to our ability to drive value for our clients and we feel very confident about our progress here. As our products continue to gain traction, we’re having meaningful conversations with clients and major industry voices in order to move toward a new definition of the currency ratings.”
Mike McFeely Returns to WDAY, Fargo. Fargo talk show host and columnist Mike McFeely is returning to Forum Communications-owned news/talk WDAY after a six-year stint with crosstown competitor KFGO. The Forum reports McFeely’s return to the station and to Forum’s print division. He’ll host the 8:30 am to 11:00 am program and write a column for The Forum and inforum.com. McFeely says, “When I left The Forum in 2009, one of the quotes I gave a reporter was ‘I will always be an ink-stained wretch.’ I never lost that belief. I have had more people than you’d believe in the last six years tell me they miss my columns in the newspaper. I am excited to write for The Forum and its website again.” McFeely joined KFGO in 2009 to host the 2:00 pm to 5:00 pm daypart.
2016 Presidential Race, Hillary Clinton to Testify on Benghazi, Russia’s Military Policy in Syria, Release of the Film Truth, Israel Violence, GOP House Speaker Post, and MLB Playoffs Among Top News/Talk Stories Yesterday (10/20). The activities of the candidates for president in 2016; Thursday’s scheduled testimony from former Secretary of State and current Democratic presidential candidate Hillary Clinton on the Benghazi attacks; the Russian military role in Syria’s civil war; the release of the film Truth, portraying CBS’ Dan Rather and Mary Mapes reporting on George W. Bush’s Texas National Guard service; the ongoing violence between Jews and Palestinians in Israel; the opening House Speaker position and the GOP’s process of filling the post; and the Major League Baseball playoffs were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.
A Walk Down Progressive Rock Radio Memory Lane. In the third part of their loosely recurring series of conversations about their early careers working together in New York progressive rock radio posted today (10/20), TALKERS publisher Michael Harrison and WFAN, New York personality/best-selling author Richard Neer, continue their stream-of-consciousness reminiscences about the very early days of their careers working with the legends of progressive rock radio at the iconic WNEW-FM in the Big Apple. In the newest installment of the PodcastOne international hit, “Up Close and Far Out with Michael Harrison,” the lifelong friends talk about their first two years at the historic Metromedia station, circa 1971-1972, where they worked with Scott Muni, Alison Steele, Jonathan Schwartz, John Zacherle and Pete Fornatale among others after being catapulted to the “big time” after the successful launch of progressive rocker WLIR-FM on Long Island. To listen to the entire podcast, please click here or click on the “Up Close and Far Out” player box located in the right-hand column of every page at Talkers.com and RadioInfo.com. Harrison (left) and Neer (right) are pictured at right in the WNEW-FM studios in 1971.
Imaging with Style and Class in a PPM World. Your imaging should not try to beat the listener over the head with your message, says voice-over and creative services pro Pete Gustin. Instead, “when done right, your radio imaging will give your listeners the overall impression that you are exactly what you tell them you are. It’s extremely powerful in fact.” What’s the difference? Gustin points out that “the local car dealerships scream about their deals and discounts. The car manufacturers, however, brand their vehicle lines with high-end music, breathtaking imagery, top-notch actors and subtle innuendo. Don’t be a local car dealer screaming at your listeners.” Read more of Gustin’s useful pointers for getting station imaging tuned up for connecting with modern consumers here.
Nielsen Releases Audio Study Charting Use of Radio. A new report from Nielsen titled “State of the Media: Audio Today 2014” is a graphics-intense, 15-page summary of the use of radio among the population based on data culled from the Nielsen RADAR 119 December 2013 and the Nielsen National Regional Database Spring 2013. The study illustrates what most industry insiders probably already know – that the majority of radio listening among all demographics is done outside the home, and that Millennials listen to less radio during a given week than their older fellow media consumers. But the report also notes that “overall, midday is the highest-rated daypart,” due most likely to high at-work listening, though the 7:00 am hour is still the one with the most people listening to radio. The comparison of the three generations – Boomers, Gen Xers and Millennials – shows the difference in the use of radio on a weekly basis. Some may quibble with the results. For example, the report states that 88.2% of Men 12-17 hear at least 5 minutes of radio during the week compared to 95% of Men 45-54 who hear at least 5 minutes of radio. There are industry observers who will claim the 88.2% figure is probably too high – that fewer are actually listening to radio – but the figure doesn’t pretend to show heavy users of radio, just those who’ve heard at least 5 minutes during the week. Regardless, the study does show the lower number of young consumers hearing AM/FM radio on a weekly basis compared to the rest of the population. Nielsen promises to update and expand on the study on a quarterly basis. See the entire study here.
Clear Channel and Horizon Media Enter into Cross-Platform Partnership. Media services agency Horizon Media and Clear Channel are announcing a partnership they call a “$100 million multi-year, cross-platform” relationship. In a statement, Clear Channel says this pact will create “first-to-market integrated marketing partnership opportunities for Horizon clients and exclusive access to select Clear Channel platforms including out-of-home, broadcast, mobile, events and digital.” Horizon’s clients include such ubiquitously marketed products as Corona beer, GEICO insurance, The History Channel and Silk. Clear Channel adds that the relationship will “provide Horizon Media with exclusive rights across key events and promotions, including select Artist Integration Programs, World Premieres, customized shows at Clear Channel’s iconic iHeartRadio Theaters in New York and Los Angeles, as well as special events created just for Horizon clients. In addition, the agency will have access to the full array of creative talent at Clear Channel Media and Entertainment for special content creation opportunities. The partnership will also allow for the co-creation of new psychographic targeting systems utilizing Horizon’s proprietary tools and insights fused with unique music and consumer research built on Clear Channel Media’s industry-leading national reach. The valuable research insights developed throughout the partnership will fuel further media mix model development.” Horizon founder and CEO Bill Koenigsberg states, “We’re excited about this ground-breaking partnership and the positive impact it will have for our clients’ business. I’ve been impressed with the transformation of Clear Channel into a multi-platform company that can provide national reach while activating locally and providing measurable ROI.”
Mike Kapel Named PD at WDAY, Fargo. At the Forum Communications-owned news/talker WDAY, Fargo, market pro Mike Kapel takes over the program director position. He’ll also host the mid-morning 9:00 am to 11:00 am program. According to the Fargo Forum, Kapel is a native who’s worked in music radio for the past 20 years. Operations manager Jim Manney says, “There is nobody that I trust more than Mike to take over the day-to-day operations of 970 WDAY.” Kapel comments, “I am excited to lead the charge into a new era. As someone who grew up here and as somebody who understands the importance of WDAY to the community, it’s an exciting place to be.”
Doug Stephan Joins TalkersRadio in Development of New Show – “American Family Farmer” — to Launch This Weekend. One of the longest-running syndicated personalities in the business, “Good Day” host Doug Stephan, is launching a new program into development on TALKERS magazine’s online radio station, TalkersRadio, this Saturday morning (2/8). The one-hour program which will air Saturdays at 8:00 am ET with repeat broadcasts throughout the week is a significant departure from Stephan’s generalist weekday morning show, “Good Day” which is heard on hundreds of terrestrial stations and is one of the most-listened-to on-air talk shows in the country. The new program is titled “The American Family Farmer with Doug Stephan” and it taps into a side of the seasoned broadcaster not often displayed publicly in his career thus far as a broadcaster – and that is his alternate career as a farmer. Yes, Doug Stephan is an independent dairy farmer operating two family farms for a number of years in the Boston suburb of Framingham, Massachusetts. In this capacity, Stephan is on top of the numerous issues — many of crisis proportions — facing today’s small farmer in America. He tells TALKERS, “There is a pressing need for a no-nonsense talk show that serves as an advocate for the interests of the small, independent, family farmer in this great country of ours that is being squeezed on all ends by the combined interests of the mega-corporate agricultural giants – backed by the government – economically and otherwise.” Stephan continues, “This is an area close to my heart and because I am deeply entrenched in this business, as well as broadcasting, I know the issues first-hand and like the back of my hand.” The program will feature commentaries and observations by Stephan, the latest information of value to family farmers and interviews with experts from agriculture, academia and government. Stephan says, “We aim to make a big difference.” On making the announcement of this new program’s launch, TalkersRadio general manager David Bernstein states, “We are extremely focused on bringing this program to its fullest potential on the ‘experimental’ radio platform that is TalkersRadio. The on-air syndicated potential of this show is absolutely enormous with literally hundreds of rural and small market stations across the heartland of America ripe to carry such a powerful vehicle with so important a mission. Meantime, our job at TalkersRadio is to provide Doug Stephan with a ‘safe’ workout space to bring this project up to speed, as we are doing with the growing roster of hosts such as Alan Colmes, Lionel, Brent Seltzer, Meg McDonald, Robbie Student, the Gooches and their projects that are already incubating on this exciting stage. And we are only just getting started! Man, I am really loving this job!”
Not So Fast. Attorney and activist Sandra Fluke will not run for the seat being vacated by Congressman Henry Waxman (D-CA) after all. Fluke tells the Los Angeles Times that her filing papers in the state of California was a preliminary move and that she has decided that she can accomplish more of her goals in a “better way.” Fluke’s national profile skyrocketed after Rush Limbaugh called her a “slut” as part of a critique of the provision that Catholic organizations be forced to provide birth control to students and employees under the Affordable Care Act. The incident ignited a backlash against Limbaugh and talk radio in general by special interest groups such as Media Matters for America.
Cool Job Opportunity. Cumulus Media-owned news/talk WOW-FM, Des Moines is looking for a morning host/program director to lead the station to the next level of success. This person will play a huge role in shaping WOW’s sound by generating great local content and overseeing the presentation of the station’s syndicated programming, imaging and on-air promotion. The successful candidate will have the proven ability to host an information-intensive morning show along with a basic understanding of news/talk programming principles and a desire to develop professionally. Salary is commensurate with experience and ratings history. Resumes, ratings history, references and mp3 should be sent in confidence to firstname.lastname@example.org with the subject “Des Moines News/Talk PD.” Cumulus Media is an EOE.
ObamaCare Criticism, Sochi Horror Stories, Hillary in 2016, Financial Markets Activity, Marijuana Laws, and IRS Targeting Scandal Among Top News/Talk Stories Yesterday (2/5). Continuing scrutiny of the rollout of the Affordable Care Act; reports from the Winter Olympics site of widespread unpreparedness as the games get ready to open on Friday; the speculation that Hillary Clinton will run for president in 2016; the selling of stocks in financial markets around the world on weak factory reports in the U.S. and China; controversy over the implementation of the new marijuana laws in various states and the effects the changes may be having; and the House hearing investigating allegations of the IRS’ targeting of conservative groups were some of the most-talked-about stories on news/talk radio yesterday according to ongoing research from TALKERS.