Tag: "FOX Nation"
Cumulus Media 2022 First Quarter Net Revenue Rises 15%. Reporting financial data for the first quarter of 2022, Cumulus Media’s total net revenue for the period was $232 million, an increase of 15% over the same period in 2021. The company says it was the fifth straight quarter of sequential improvement in revenue performance versus a comparable quarter in 2019. Cumulus also reports a Q1 net loss of just $0.9 million, down from the net loss of $21.9 million reported in the first quarter of 2021. The broadcast radio segment is broken into two parts – spot, which rose 11.9% over the same period a year ago, and network, which was up 5.2%. The company’s digital segment was up 18%, led by digital marketing services (+35%) and podcasting (+22%). Cumulus president and CEO Mary G. Berner says, “Our outstanding first quarter results once again demonstrate the positive impacts of our ‘audio-first’ strategy to transform the company from a one-dimensional radio broadcaster to a multi-dimensional audio media company. Following a strong 2021 performance, this quarter’s results underscore our ability to deliver value to our shareholders through sustained profitable top- and bottom-line growth and balance sheet de-levering. We delivered sequential revenue improvement for the fifth straight quarter versus the comparable 2019 quarter, grew EBITDA by 250% year-over-year, and generated continued strong cash from operations, which collectively allowed us to achieve the company’s lowest net leverage in over a decade. Given our best-among-peers balance sheet, strong financial momentum and the company’s positive 2022 outlook, we expect ongoing cash flow generation that will support a meaningful return of capital to shareholders now and in the future. Accordingly, as a first step, today we are announcing a $50 million share repurchase program with a plan to commence share repurchases in the near-term. This capital return program is underpinned by our continued belief that the company is significantly undervalued.”
Cumulus Rejects Unsolicited Acquisition Bid. The last sentence of Cumulus Media president and CEO Mary Berner’s statement outlining its first quarter results says it all: “The company is significantly undervalued.” That was also the theme of a memo from Berner to Cumulus shareholders regarding the unsolicited offer from a consortium led by Connoisseur Media CEO Jeffrey Warshaw to acquire Cumulus. Berner says, “The company recently received an indication of interest in acquiring the company for $15 to $17 per share. After a careful and thorough review, conducted in consultation with our financial and legal advisors, the board unanimously concluded that the indication of interest significantly undervalues the company and is not in the best interests of its shareholders. The company’s board is open to all paths that continue to drive superior shareholder value. Our strong momentum across business lines, multiple digital revenue growth drivers, operational efficiency and superior cash flow provide the company with substantial untapped upside that it expects to continue to realize on behalf of its shareholders. Given these facts and circumstances, the board unanimously believes execution of the company’s strategy will deliver significantly more value to shareholders than this indication of interest.”
Bill O’Reilly’s ‘No Spin News’ Debuts This Week. The Bill O’Reilly-hosted program from Key Networks debuts this week on 58 stations across the U.S. Key Networks says “No Spin News” is “a full hour of trailblazing journalist and bestselling author O’Reilly’s fair, smart, fact-based analysis” airing every weeknight. The one-hour show has been airing in New York on 77 WABC for over a year under the title, “Common Sense with Bill O’Reilly.” The program now joins the suite of shows syndicated by Key Networks that includes: “The O’Reilly Update,” “The O’Reilly Update – Morning Edition,” and “The O’Reilly Update – Weekend Edition.” O’Reilly says, “We are beyond happy that radio stations from coast-to-coast are spreading the ‘No Spin’ mantra. We provide something that’s badly needed in the USA: honest fact-based analysis.” Key Networks COO Dennis Green comments, “Based on the success of ‘The O’Reilly Update,’ the marketplace was ready for more content from Bill O’Reilly. ‘No Spin News’ provides analysis on what is happening in the world that listeners want to hear. This is content you won’t get anywhere else, and I expect stations to add Bill O’Reilly’s ‘No Spin News’ in large numbers!”
WABC-TV, New York Opens Long Island Bureau at Hofstra University. New York City’s WABC-TV is opening a new, Long Island bureau today (5/4) inside the Lawrence Herbert School of Communication at Hofstra University. The small bureau will have a full-time reporter and two production trucks in Long Island, New York. WABC has a history of supporting the journalism program at the university, donating significant quantities of valuable equipment and providing internship and career opportunities for many students. Hofstra students will have regular exposure to WABC journalists, expanded internships, guest lectures and seminars held by WABC professionals. The Long Island bureau, located in the newsroom of Hofstra’s award-winning, student-run radio station, WRHU-88.7 FM, reinforces WABC-TV’s commitment to Long Island, as well as the Herbert School’s commitment to community journalism, including the newly launched community news site, LongIslandAdvocate.com. Lawrence Herbert School of Communication dean Mark Lukasiewicz states, “Our journalism program emphasizes experiential, hands-on learning and encourages our student journalists to engage with Long Island communities to tell impactful stories. The Eyewitness News Long Island bureau, located alongside WRHU’s newsroom, will provide that kind of hands-on opportunity – a daily chance for students to observe and learn from great local journalists doing the work of New York’s top broadcast news operation.”
TALKERS News Notes. The nationally syndicated “Rob Carson Show” joins the 1400 Investments, LLC-owned Nevada Talk Network. The program, syndicated by Newsmax and airing in the 12:00 noon to 3:00 pm ET daypart, is being heard on KELY-AM, Ely; KNNR-AM, Sparks-Carson City; KDJJ-FM, Fernley-Fallon; KPKK-FM, Amargosa Valley; KAVB-FM, Hawthorne; and KPVM-TV 25.6, Pahrump…..The syndicated “Todd Starnes Show” – airing live from 12:00 noon to 3:00 pm ET – adds new affiliate station KTXW-AM/FM, Austin “The Bridge” to its roster of affiliate stations…..FOX Nation – FOX News Media’s “on-demand streaming service designed to complement the FOX News Channel experience with a members-only destination for its most passionate and loyal super fans” – is premiering a documentary series about music and television industry star Sharon Osbourne in September. Titled “Sharon Osbourne: To Hell & Back,” the four-part program features “a candid and heartfelt look into Osbourne’s personal and professional life, highlighting how she found herself in the crosshairs of the cancel culture movement after exiting CBS’s ‘The Talk.’”…..SiriusXM is presenting nationwide, comprehensive coverage of the Kentucky Derby this Saturday (5/7). The wire-to-wire race broadcast of the Kentucky Derby is provided by NBC Sports Audio Network.
Roe v Wade Leak, Midterm Primaries/Trump & the GOP, the Economy, Russia-Ukraine War, COVID-19 Among Top News/Talk Stories Yesterday (5/3). Reactions to the leak of a draft of the Supreme Court’s decision to overturn Roe v Wade; the primary elections in Ohio and Indiana, the battle for control of Congress in November’s midterm elections, and Donald Trump’s influence over the GOP; the activity on the world’s financial markets, the supply chain woes, and concerns about a recession; Russia’s ongoing invasion of Ukraine and the effects across the globe; and concerns about new Omicron variants and the possibility of a serious summer COVID wave were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
By Holland Cooke
NBC uses affiliates’ air to ask viewers to watch Peacock instead. They even cannibalize their own linear channels. As President Trump recently addressed Congress, Lester Holt anchored on NBC, while MSNBC “Morning Joe” stars anchored coverage on Peacock. As if Brian Williams + talking-heads on MSNBC and Shepard Smith + talking-heads on CNBC weren’t splintering viewership already.
iHeartMedia and Charlamagne Tha God Launch ‘The Black Effect Podcast Network.’ A new podcast network from iHeartMedia and nationally syndicated radio personality Charlamagne Tha God is in the works. iHeartMedia says, “The Black Effect Podcast Network is positioned to become the world’s largest podcast publisher dedicated to Black listeners, bringing together the most influential and trusted voices in black culture for stimulating conversations around social justice, pop culture, sports, mental health, news, comedy and more.” Charlamagne says, “Blackness has an immediate, culture shifting effect on everything. Blackness controls the cool. Blackness is the culture, but Black Voices are not monolithic. The only way to appreciate the diversity of thought and experiences in Black culture is to build a platform for those voices to be heard. Unapologetically Black experiences, unapologetically Black thought, unapologetically Black ideas. Black, Black, Blackity Black, Black, Black, Black. Everything Black. Black Everything. The vision for The Black Effect is to amplify, elevate, and empower emerging and established talent. Our goal is to shift the narrative from Black creators signing transactional deals, to instead forming legacy partnerships that build generational wealth while allowing each creative to have an equitable stake in their future. As a longtime partner of iHeart, it’s an honor to make history with them.” The Black Effect Podcast Network creatives will include comedian/actress Jess Hilarious, social justice activist Tamika Mallory, American attorney and TV host Eboni K. Williams, and many more.
Fred Toucher Back on WBZ-FM, Boston. After seven weeks away from his role as co-host of the morning drive “Toucher and Rich” program on Beasley Media Group’s WBZ-FM, Boston “98.5 The Sports Hub,” Fred Toucher re-joins Rich Shertenlieb and the cast today (9/9). As reported by the Boston Globe, Toucher took leave of the show on July 22 to enter rehab for alcohol addiction. He tweeted on Tuesday, “I’m back baby! It’s been a crazy few weeks but I survived. I want to thank all of you for the tremendous support. I have read all your messages and they helped me more than you could imagine. I will tell my story starting tomorrow at 6am on Toucher and Rich 98.5 the sports hub.”
New Afternoon Show Debuts at Cumulus’ KTIK-FM, Boise. The new afternoon show at Cumulus Media’s sports talk KTIK-FM, Boise includes the station’s current afternoon personality Mike Prater and new station voice Johnny “The Ballgame” Mallory. The show is called “Idaho Sports Talk With Prater & The Ballgame” and airs from 3:00 pm to 6:00 pm. Mallory is a former Boise radio personality who’s been hosting his own show in LaGrande, Oregon for the past four years. KTIK program director John Patrick says, “Johnny will bring tremendous energy that will be infectious to our listeners. We’ve put together a strong team that will carry the Idaho Sports Talk tradition of smart and entertaining conversation with a focus on Boise State athletics.” The station says that Boise State University athletics voice Bob Behler will continue his appearances on “Idaho Sports Talk With Prater & The Ballgame,” doing daily segments on teams, student-athletes, news and trending issues at Boise State. Behler also continues as the play-by-play voice of the football and men’s basketball teams.
Ramon Foster Joins Morning Show at WGFX-FM, Nashville. Former Pittsburgh Steelers offensive lineman and Tennessee Volunteers player Ramon Foster is joining Cumulus Media’s sports talk WGFX-FM, Nashville “104.5 The Zone” as co-host of the morning drive program alongside Jason Martin, effective today (9/9). Station program director Paul Mason says, “From the moment I met Ramon Foster, I knew he was the right person for this role. Not only is he a ‘Vol For Life’ with many years in the NFL, but he is also very likable, a great storyteller, and is just flat out interesting to listen to. I’m extremely excited and happy for our listeners!”
Rob Schmitt to Host Prime-Time Show on Newsmax TV. News pro Rob Schmitt is joining Newsmax TV to host a prime-time program. Newsmax says that beginning weeknights this fall, “Schmitt’s new prime-time hour will include fast-paced news, analysis, and commentary covering the topics most important to Americans.” Schmitt most recently anchored the “FOX & Friends First” morning show and was a co-anchor for “FOX Nation.” Newsmax Media CEO Christopher Ruddy says, “Rob has the kind of journalistic credentials and positive reputation we look for here at Newsmax and our viewers will be well served by his honest reporting.”
Presidential Election/Mail-In Voting, DOJ-E. Jean Carroll Case, COVID-19 Stats & Projections/Vaccine Trials, School Openings/College Outbreaks, California Wildfires, and Oscars Inclusion Standards Among Top News/Talk Stories Yesterday (9/8). The November presidential election, the controversy over mail-in voting, and President Trump’s request that supporters act as “poll watchers”; the Department of Justice seeks to defend Trump in the E. Jean Carroll sexual assault allegation; the number of confirmed COVID-19 cases in the U.S. and projections for future cases and the related quest for a vaccine; the challenges of opening U.S. schools to students and the COVID-19 outbreaks at numerous college campuses; the raging California wildfires; and the new inclusion standards for the Oscars were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
TALKERS News Notes. Little Rock talk show host Dave Elswick celebrated 20 years on the air in the market on Tuesday (9/8). Elswick, has been a personality at Salem Media Group’s KXDE, Little Rock “101.1 The Answer” for the past six years, previously handled afternoon drive at Cumulus Media’s crosstown news/talk KARN-AM/FM. He’s been in the radio business for 50 years…..FOX Sports Radio launches a new iHeartRadio original podcast titled, “I Want Your Flex,” distributed by the iHeartPodcast Network. The program is a fantasy football-themed podcast hosted by FSR personalities Mike Harmon and Dan Beyer. New episodes will drop on Tuesday and Friday mornings. Harmon has served as co-host of FSR’s “The Jason Smith Show with Mike Harmon.” He also hosts a two-hour Sunday morning show on FSR from 9:00 am to 11:00 am with LaVar Arrington. Beyer is FSR’s managing news editor, and can be heard weekdays on “The Doug Gottlieb Show.”…..Cumulus Media’s Westwood One and Imperative Entertainment premiere “TRUE,” a weekly podcast that “features often weird, but always true stories of strange events and unforgettable moments.” New episodes include topics such as: ‘Balloon Boy’ in which the Heene family claimed their six-year-old son was trapped in a homemade helium-filled gas balloon shaped to resemble a flying saucer, and ‘Pigeon King’ – the story of how Arlan Galbraith used pigeons to scam millions of dollars from small town farmers, mostly Mennonites, Amish and Hutterites, across Canada and the US…..Entercom is partnering with the Barbara Bush Houston Literacy Foundation to host the first annual Giving Week campaign in support of the foundation’s signature program, My Home Library. All this week, Entercom’s Houston stations are working to raise $100,000 to provide more than 3,500 home libraries to economically disadvantaged Houston children…..Vuolo Video’s Art Vuolo is making audio from the morning of September 11, 2001 available to stations for use in recognizing the anniversary of the terror attacks this Friday. The “mini-documentary” runs about 13 minutes and includes radio sound and clips from WABC, WCBS-AM, WCBS-FM, WOR, WINS, and WHTZ featuring air personalities Scott Shannon, Elvis Duran, Curtis Sliwa, Sean Hannity, Lee Harris, Ed Walsh, John Gambling, Joe Bartlett, and Joey Reynolds. The link to the YouTube video is here.
Music Radio News and Career Moves. In New Orleans, Cumulus Media flips classic hits KKND-FM to hot AC as “106.7 The Krewe.” The station will feature core artists including: Lady Gaga, Bruno Mars, Taylor Swift, Ed Sheeran, Harry Styles, and Maroon 5, among others. The weekday programming lineup includes “The Bert Show” 5:00 am to 9:00 am and “The Adam Bomb Show” from 3:00 pm to 7:00 pm…..Cumulus Media alternative rock WKQX-FM, Chicago is presenting the history of the alternative rock genre via its “The History of Alternative,” an exclusive five-week radio series that began on Tuesday (9/8). The program will air nine hours a day, every day, on WKQX through October 9. WKQX program director and Cumulus VP, corporate programming/rock formats Troy Hanson comments, “For 25-plus years, WKQX has had the good fortune of being Chicago’s amplifier to all things alternative. This labor of love will showcase the music since the dawn of the genre, as well as the pop culture happenings surrounding the movement. A credit to our incredible listeners who have helped shape the face of alternative. We’ve got you covered. All 23 minutes of Kraftwerk ‘Autobahn’? Check. Guyliner tips from The Cure? Check. Flannel meets punk meets Lilith Fair? Check. Zoot suit chain wallets? Check. Backwards red baseball cap? Yeah….even that phase, plus a couple more surprises along the way.” “The History of Alternative” was produced by WKQX’s Troy Hanson, Jon Manley, and James Van Osdol. The series was narrated by Brian Philips and hosted by Lauren O’Neal and Tim Virgin.