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Thursday, August 5, 2021

| August 5, 2021

Beasley Broadcast Group Second Quarter Net Revenue Up 96%. Reporting its financial data for the second quarter of 2021, Beasley Broadcast Group (parent company of Beasley Media Group) indicates net revenue was $59.6 million, an increase of 96.1% over the same period in 2020. The company posts operating income of $5.8 million compared to the $17.6 million operating loss it reported in Q2 of 2020. Station operating income also rebounded to $11.1 million compared to the $11 million SOI loss it posted in the same period a year ago. Beasley CEO Caroline Beasley states, “Beasley’s strong 2021 second quarter financial results reflect growing momentum across our media platform, as the continuing broad-based economic recovery accelerated demand from consumers and advertisers for our premium content and marketing and advertising services. With the significant rebound in the commercial advertising market, second quarter net revenue of $59.6 million increased 24% over first quarter 2021 levels and 96% over the comparable prior year period. Top line growth combined with the meaningful actions we have taken over the past year to permanently reduce costs and improve operating efficiencies, resulted in a significant rebound in net income to $0.2 million and SOI to $11.1 million, as well as positive free cash flow of approximately $1.0 million. Throughout the second quarter, the resumption of advertising in key categories combined with the success of our content monetization strategies resulted in year-over-year revenue growth across all fifteen of our markets, with healthy double-digit revenue increases in Boston, Detroit, Philadelphia and Wilmington. Notably, our continued emphasis on strong local content and consumer engagement drove best-in-industry ratings performance for our station clusters, according to Nielsen. Our cumulative on-air audience share approached pre-pandemic levels in the second quarter, having grown consistently since the height of the COVID-19 pandemic in 2020. While second quarter non-traditional revenue (NTR) and events revenue was minimal, we made the strategic decision to fully re-open our events business in the third quarter, given the continued strengthening of commerce and consumer activities in our markets, and expect incremental revenue from this source in the second half of 2021. As we work to return all of our revenue sources to pre-pandemic levels of operation, we are closely tracking potential impacts from the Delta variant and the uncertainty it may bring to businesses we serve and our future operating results. Our ongoing focus on digital innovation and the strategic investments we are making in our digital and esports infrastructure and content production capabilities are delivering positive results and continue to highlight the value of our long-term revenue and cash flow diversification strategies. Growing consumer and advertiser demand for Beasley’s digital audio content drove a 96% year-over-year increase in digital revenue, with digital accounting for approximately 13.4% of total second quarter revenue, compared to 13.4% in the prior year period and 12% in the 2021 first quarter. With growing audience share and engagement, Beasley’s digital network delivered record digital audience impressions in the second quarter, with total digital impressions growing 29% over the prior year period.”

Salem Media Group Q2 2021 Total Revenue Rises 20.6%. The total revenue for Salem Media Group’s second quarter of 2021 was $63.8 million, an increase of 20.6% over the same period in 2020. Salem posted operating income of $5.6 million for the quarter, compared to the operating loss of $900,000 it reported during the second quarter of 2020. The company’s net income for Q2 of this year was $2.3 million compared to the net loss of $2.5 million it reported for the second quarter of 2020. Salem Media Group reports data for its three business segments and the Broadcast segment’s net revenue for this quarter was $46.8 million, up 18.5% from the same period a year ago. Station operating income rose 66.6% to $10.6 million. The Digital Media segment saw revenue rise 9.5% to $10.3 million and the Publishing segment revenue was $6.7, an increase of 68.3%. As of June 30, 2021, the Salem Media Group had $216.3 million outstanding on the 6.75% senior secured notes due 2024, no balance outstanding on the Asset Based Revolving Credit Facility, and $11.2 million outstanding on Paycheck Protection Program (“PPP”) loans from the Small Business Administration.

Saga Communications Q2 Net Revenue Up 49.7%. Second quarter financial data from Saga Communications, Inc. reveals that the company’s net revenue was $28 million, an increase of 49.7% over the same period in 2020. The company posted operating income of $4.6 million compared to the operating loss of $8.6 million it reported in the second quarter of 2020.  Station operating expense increased $2.4 million to $21.0 million for the quarter compared to the same period last year. Station operating income was $8.4 million for the quarter compared to a loss of $181,000 for the second quarter of 2020. Free cash flow was $4.2 million for the quarter compared to a negative $1.8 million for the same period last year. Saga’s balance sheet reflects $59.4 million in cash on hand as of June 30, 2021 and $59.6 million as of August 2, 2021.  The company’s total bank debt remained at $10 million as of the end of the second quarter 2021.

Urban One Second Quarter Net Revenue Climbs 41.6%. Today’s second quarter 2021 financial report from Urban One, Inc., parent company of Radio One, indicates the company’s net revenue was approximately $107.6 million, an increase of 41.6% from the same period in 2020. Broadcast and digital operating income was approximately $49.6 million, an increase of 64.3% from the same period in 2020. Urban One reports operating income of approximately $37.9 million for Q2 of 2021, compared to approximately $20.4 million for the same period in 2020. Net income was approximately $17.9 million compared to approximately $1.4 million for the second quarter of 2020. Urban One CEO and president Alfred C. Liggins, III says, “Overall we had an extremely strong second quarter; not only was Adjusted EBITDA up 82.4% year-over-year, but we also surpassed our Q2 2019 pre-pandemic Adjusted EBITDA. We are experiencing unprecedented advertiser interest in our audience across the entire Urban One platform. The radio advertising business saw a robust rebound from the worst impacts of the pandemic in Q2 2020, with segment revenues up by 73% and radio syndication revenues up 50.2%. We also benefitted from strong TV scatter markets, with TV advertising revenues up 21.3% in the quarter; furthermore, registered interest in our 2021-22 TV upfront sales presentations has also been extremely encouraging, which will help our fourth quarter revenue performance. Demand for our digital products remains high, with digital revenues up by 147.9% for the quarter and Adjusted EBITDA up by over $6 million; a significant help to our top and bottom-line growth. For Q3, our core radio business excluding political is currently pacing up by over 40%, and we are comfortable increasing our FY21 Adjusted EBITDA guidance to mid-$130 million, excluding casino chase costs. During the quarter we completed the second tranche of our Class A ATM share sale program, which yielded $21.2 million net of fees. This cash influx further strengthened our balance sheet, and we ended the quarter with $129.8 million of cash on hand, which is a healthy place to be ahead of the exciting new investment opportunity in the One Casino & Resort in Richmond, Virginia.”

Ralph Nader is This Week’s Guest on Harrison Podcast.  Legendary consumer advocate, political activist, prolific author, Pacifica radio talk show host and five-time presidential candidate Ralph Nader is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” Harrison and Nader engage in a fascinating discussion about “left/right political thinking” in America as well as social and business changes influenced by advancements in technology, plus more. Nader says working class Democrats and Republicans alike have far more in common than they have differences and that unbridled corporatism is the true enemy of the poor and working class regardless of race or political ideology. To listen to the podcast in its entirety, please click here.

NAB Announces 2021 Marconi Finalists. The finalists for the 2021 Marconi Awards have been announced. The news/talk Station of the Year finalists are: WSB-AM, Atlanta; WTOP-FM, Washington; KSSZ-FM, Columbia, Missouri; WLW-AM, Cincinnati; and KNX-AM, Los Angeles. (NAB lumps all-news and news/talk stations into the same category.) WSB-AM, Atlanta is also up for Legendary Station of the Year. Talk radio hosts making the finals include, for Major Market Personality of the Year, George Dunham, Craig Miller, and Gordon Keith from sports talk KTCK-AM, Dallas “The Ticket.” In the Large Market Personality of the Year category, finalists include: WFLA-AM, Tampa’s Jack Harris; WBAL-AM, Baltimore’s C4 and Bryan Nehman; WHPT-FM, Tampa’s Mike Calta; and WWTN-FM, Nashville’s Dan Mandis. Medium Market Personality of the Year category finalists include: KRMG-FM, Tulsa’s Dan Potter; KIDO-AM, Boise’s Kevin Miller; KYKX-FM, Tyler, Texas’ Harlen the Sports Guy and Pigskin Bob; and WHO-AM, Des Moines’ Simon Conway. See all the finalists here.

TALKERS News Notes. Next Tuesday (8/10), McVay Media’s Mike McVay is joining Loyd Ford from Rainmaker Pathway Consulting Works, LLC for “The Radio State Of The Union Live Event” on The Encouragers on Clubhouse. It’s being billed as “a frank discussion about employment, job search, career management, corporate & local radio and the future” and takes place at 7:00 pm ET. Ford says, “We have been discussing the people we love in this business, the talent. This is a unique time in our history. If you are on the talent side of the business, it takes some skill to navigate your way through what is happening. I reached out to Mike because he really does have such deep experience and knows radio as a talent, a consultant and someone who ran programming for one of the largest broadcasters in the country. Plus, he’s willing (like I am) to be candid. This will be a conversation with red meat and a lot of helpful hacks to get ahead, stay balanced and help others.”…..Legendary WGN-AM and WGN-TV sports producer Jack “Rosey” Rosenberg will be recognized by the City of Chicago with an honorary street sign. The southeast corner of E. Illinois Street and Cityfront Plaza Drive will double as “Jack Rosenberg Way.” Rosenberg’s career at WGN began in 1954 where he was a producer, news writer, and sports editor and worked with celebrated sports voices including Jack Brickhouse, Harry Caray, Vince Lloyd, Lou Boudreau, and others. WGN says, “Rosey was a pioneer in modern sports production and broadcasting and is credited with its development. While Rosey himself was rarely heard on-air, the sound of his typewriter clacking in the background was unmistakable.” Rosenberg died December 26, 2020 at the age of 94…..Futuri announces the launch of AdMatic, “a revolutionary system that helps podcast platforms and creators make their content more discoverable and monetizable using advanced metadata sorting and deployment.” Futuri CEO Daniel Anstandig adds, “Two million podcasts all have the same problem: poor metadata sorting that leads to mismatched recommendations for listeners and ineffective advertising for businesses. AdMatic solves this by using Futuri’s AI-driven technology to individually categorize podcast episodes and align with the businesses and products that best match on a case-by-case basis, rather than the hopelessly broad one-size-fits-all approach we currently see in the market.”

COVID-19 Delta Variant/Outbreaks & Mask Policies, Eviction Moratorium, Cuomo Allegations-Impeachment Possibility, Infrastructure Bill, January 6 Investigation, the Tokyo Olympic Games, and California Wildfires Among Top News/Talk Stories Yesterday (8/4). The fast-rising number of COVID-19 Delta variant cases in numerous U.S. states, governors under fire and mask policies; President Joe Biden’s moratorium on evictions; the allegations of sexual impropriety against New York Governor Andrew Cuomo and the possibility of his being impeached; the bi-partisan $1 trillion infrastructure bill; the investigation into the January 6 Capitol attack; the Tokyo Olympics; and the California wildfires were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Friday, April 14, 2017

| April 14, 2017

Cumulus Media Promotes Three to Executive Vice President. Three current Cumulus Media executives are promoted to newly created EVP positions: Mike McVay rises from senior vice president, content & programming to executive vice president, content & programming; Dave Milner, moves up from senior vice president, operations to executive vice president, operations; and Bob Walker is elevated from senior vice president, operations to executive vice president, operations.  Cumulus Media president and chief executive officer Mary Berner states, “These promotions recognize the strong performance of these key members of our senior leadership team.  Mike, Dave and Bob are terrific executives and have each been instrumental to the success we’ve achieved during the first year of executing our turnaround plan for the company.”

Ryan Wrecker Joins KMOX, St. Louis as ‘Overnight America’ Host. Talk radio pro Ryan Wrecker moves from his most recent gig as PD at Pathfinder Communications’ WOWO, Fort Wayne to CBS RADIO’s heritage St. Louis news/talker KMOX to host the station’s late-night program, “Overnight America,” beginning Monday (4/17).   The program airs from 10:00 pm to 3:00 am.  KMOX program director Steve Moore comments, “Ryan is a passionate advocate of local radio who comes to us from a legacy station and brings a great appreciation for KMOX and its role in the community.  In addition, Ryan understands how creating unique digital and social media content can quickly expand his reach in the market and grow his listener base.”  Speaking about his new gig, Wrecker states, “We’re going to have fun on ‘Overnight America.’  It’s a show that’s inclusive to new voices and topics.  Every night we will present fresh and unique ideas to the audience and explore them in a way that’s different from any other radio show.”  The “Overnight America” show had been hosted by Jon Grayson, who exited KMOX in February to host the midday show at crosstown news/talk KTRS.

Kaplan Promoted to Marketing Director for Cumulus Media Dallas. For the past two years, Rebecca Kaplan has been promotions director for Cumulus Media’s Dallas country signals KSCS and KPLX “99.5 The Wolf.”  Now, she is promoted to marketing director for the seven-station cluster that includes news/talk WBAP, news/talk KLIF-AM, sports talker KTCK-AM and KESN-FM, and CHR KLIF-FM “HOT 93.3.”  Cumulus regional vice president Dan Bennett states, “Rebecca has proven herself with outstanding event execution for our country stations KPLX and KSCS. Our seven-station cluster will benefit greatly from her involvement in the future with all our stations.”

TALKERS News Notes. The NBA Playoffs begin this weekend and ESPN Radio is presenting its coverage starting with the Cavaliers versus the Pacers Saturday at 2:00 pm ET.  Marc Kestecher and Jon Barry will call the action.  Sunday’s contest will be the Warriors vs Trailblazers with Adam Amin and P.J. Carlesimo on the call…..When the NHL’s new franchise the Vegas Golden Knights takes to the ice next fall, Lotus Communications’ KRLV, Las Vegas “FOX Sports 1340” will serve as the flagship station for radio.  Lotus plans to begin simulcasting the station on FM translator K255CT, Henderson, Nevada.  As part of the deal, some of the games will also be broadcast in Spanish on Lotus’ KENO-AM “1460 ESPN Deportes.”…..In podcasting news, Apple is changing the name of its podcast platform from “iTunes Podcasts” to “Apple Podcasts.”…..TALKERS magazine sends condolences to the family and friends of longtime Cleveland sports media personality Kendall Lewis, a.k.a. The BSK — the Big Sports Kahuna, who died on April 11 at the age of 56.  Lewis’ most recent work was on digital platforms, but for years he was a host on sports talk WKNR, Cleveland “ESPN 850.”  He also was a fixture at FOX Sports Net Ohio and served with WOIO-TV, Cleveland.

U.S.-Russia Relations/Syria Gas Attack Top News/Talk Stories This Week.  The tense relations between the U.S. and Russia over the Syria sarin attack and the U.S.’s airstrikes in Syria were the most-talked-about stories on news/talk radio for the week of April 10-14.  At #2 this week was the North Korea nuclear missile threats.  Coming in at #3 was the United Airlines passenger removal case and the resulting PR blowback, followed by the FBI’s monitoring of Trump adviser Carter Page at #4.  The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine.  It is published every Friday at Talkers.com. View this week’s entire chart here.

Michael Harrison Interviews Judy Collins on this Week’s Podcast. Folk singing/pop music legend Judy Collins is this week’s special guest on the award-winning PodcastOne hit series “Up Close and Far Out with Michael Harrison.” In the words of Harrison, “Although she sings like an angel and performed on a number of hits and concert stages across the nation, creating a total of more than 50 albums along the way – not to mention authoring books, painting, and even directing a film – she lived a deeply troubled existence. We’re talking about severe depression and emotional disturbance that nearly drove her to suicide. We’re talking about substance abuse and eating disorders…and on top of everything, coping with the suicide of her son in 1992.” The TALKERS founder continues, “This amazing woman has survived to not only overcome these challenges but to be of great service and help to others, as well. She is a tireless advocate of those who suffer from similar emotional afflictions and has made significant contributions in bringing public awareness of mental illness out of the shadows and into the open.” On April 27, in recognition of her service to others, Collins will receive the 2017 Beatrice Stern Media Award at a major gathering in Los Angeles – The Erasing the Stigma Leadership Awards. It is an annual event thrown by Didi Hirsch Mental Health Services, a leading non-profit provider of free community mental health and substance abuse services for children and adults for over 75 years. Harrison and Collins engage in a remarkably candid and informative discussion about the state of mental illness in our healthcare system and culture. They also talk about the early days of her career, her relationship with rock legend Stephen Stills and her storied connection to his Crosby, Stills and Nash masterpiece, “Suite: Judy Blue Eyes.” To listen to the podcast in its entirety, please click here or click on the “Up Close and Far Out” player box located in the right hand column on every page of Talkers.com.

 

 

Music Radio News and Career Moves.  Audio content syndicator Westwood One is partnering with dick clark productions to help promote the 2017 Billboard Music Awards and offer its broadcast partners branded, long-form and short-form content and promotions.  Westwood One will welcome more than 20 radio stations to its Westwood One Backstage at the BBMAs event with live performances and celebrity interviews during rehearsals the day before the 2017 Billboard Music Awards (Saturday, May 20) at the T-Mobile Arena in Las Vegas.  Talent taking part in the Saturday event include WPLJ, New York personality Jayde Donovan; WPLJ and WPRO-FM, Providence host Ralphie Aversa; and syndicated personalities Adam Bomb and Zach Sang…..The three urban-formatted Philadelphia stations owned by iHeartMedia – urban contemporary WDAS-FM “Philly’s Best R&B & Throwbacks,” hip hop WUSL “Power 99,” and smooth jazz WDAS-AM “Smooth Jazz ‘JJZ 1480” – are organizing the inaugural “Sista Strut 3K Breast Cancer Walk” taking place on Saturday, June 17 at Xfinity Live! in Philadelphia.  Proceeds will benefit The American Association for Cancer Research.  The stations note that the walk aims to raise breast cancer awareness among African American women, who are 41% more likely to die from the disease than white women, making screenings and early detection crucial.  WDAS-FM personality Frankie Darcell comments, “As one of the founders of Detroit’s ‘Sista Strut,’ I’m ecstatic that nearly 20 years later the event will be held in our Philadelphia community.”…..Country KNIX, Phoenix and Jack Daniel’s Tennessee Fire are cooperating on a “Rise From The Fire” Concert Flyaway Sweepstakes.  Consumers ages 21+ can enter for a chance to win a trip for two to New York for a benefit concert featuring a top music act.  The event concludes an 11-city iHeartRadio concert series to benefit firefighters and communities affected by fire. The Phoenix stop in the concert series will feature national recording artist, Brett Young, and will take place on April 19 at the Hall of Flame Fire Museum.  The sweepstakes and concert series are part of an effort by Jack Daniel’s Tennessee Fire to raise funds in support of the Fire Family Foundation, an organization that offers immediate assistance to firefighters and their families, fire victims, fire departments and charities. The Foundation believes that by coming together as a “Fire Family,” assistance can be provided by those impacted by fire.