Monday Memo: Say It Shorter. In this week’s concise column, consultant Holland Cooke barely says ANYTHING, “and that’s the point.” Read it here.
The Presidential Race, Biden VP Choice Speculation, Vote-By-Mail Debate, and Stimulus Exec Orders Top News/Talk Stories Over the Weekend (8/8-9). The November presidential election, speculation over Joe Biden’s pending VP selection, the failure of Congress to arrive at a new stimulus package with President Trump responding by signing contestable executive orders to move the process along as well as the controversy over his ongoing allegation that voting by mail encourages voter fraud were the most-talked-about stories on news/talk radio this weekend according to TALKERS research of the most talked about topics on issues-oriented news/talk radio. Other heavily discussed topics over the weekend included the school closing debate and COVID-19 stats and projections.
Pending Business: Talk to the Winners. Sales and marketing consultant Steve Lapa, president of Lapcom Communications, writes about how radio sales professionals should have faith in the resilience of local, small business based on the premise that many WILL survive the COVID-19 era. He suggests that radio sellers seek out those whose innovation clearly has them on a winning track and talk directly to them, customizing campaigns that are in sync with their efforts. Read it here.
Update: WAMU-FM Sexual Harassment. As we reported here last week (TALKERS, 8/5), American University-owned public news/talk outlet WAMU-FM, Washington, DC is in a state of chaos over sexual harassment allegations. WAMU-owned publication DCist ran a Rachel Kurzius-written story detailing allegations of harassment and improper behavior by former WAMU-FM reporter Martin Di Caro. Numerous employees were asking for station general manager J.J. Yore to resign, something he said he was not prepared to do. That situation changed, however, late last week as the station’s six-year general manager has indeed stepped down. Vice president of people and external affairs/chief of staff Seth Grossman states, “American University thanks JJ for his years of service to WAMU; we wish him well as he pursues his next endeavor. We are announcing a series of critical steps designed to address issues in the areas of diversity, equity, inclusion, human resources, and management, as well as how matters of misconduct are handled at WAMU. These actions are a combination of immediate and longer-term steps to accelerate WAMU’s work to enhance culture and workplace. The changes will provide important support to the WAMU staff, who we thank for continuing to focus on producing award-winning journalism that the Washington, DC region relies on amid this period of change. We believe these actions will offer support for the entire WAMU team and provide a foundation for the station’s next chapter.” An interim general manager will be named in “the next four to six weeks.” In addition, a human resources employee relations consultant with “proven experience in improving organizational culture and creating inclusive workplaces” will be put in-place. Interim chief content officer Monna Kashfi becomes the permanent chief content officer, overseeing WAMU and DCist. WAMU’s former chief content officer, Andi McDaniel, left the station last month to join Chicago Public Media’s WBEZ-FM, Chicago as president and chief executive officer; McDaniel begins those duties next month. As indicated in the The DCist piece, McDaniel was well aware of Di Caro’s behavior, having signed off on a “Level III Final Written Warning for Serious Misconduct” given to Di Caro after “almost two years” of complaints.
Coronavirus Affects Cumulus’ Q2 Numbers. Second quarter figures for Cumulus Media include a 47.8% year-to-year revenue decrease to $146 million. The company witnessed its net income transition from a gain of $42.9 million to a loss of $6.4 million and adjusted EBITDA dropping from $61.8 million to -$6.4 million. Despite the pandemic’s material impact on revenue, Cumulus Media president/chief executive officer Mary G. Berner explains, “The company generated over $90 million of cash in the quarter through quick and decisive expense actions, strong working capital management, and the completion of sale of land in Bethesda, Maryland. Ending the quarter with nearly $200 million of cash, we have entered into an agreement to monetize our tower portfolio for more than $210 million, proceeds which will further add to our liquidity and contribute to significant incremental debt paydown.” She adds, “Our demonstrated ability to rise to a challenge, strong liquidity position, and resilient balance sheet are critical assets as we operate through this uncertain environment. We believe we remain very well-positioned to drive long-term shareholder value through continued aggressive debt reduction and the execution of our growth initiatives.” Broadcast station revenue was down 51.6% to $114.2 million. Spot revenue was off 55.6% and network revenue declined by 42.7%. Meanwhile, digital revenue was up .7% to $20.3 million.
COVID-19 “Impacts” Townsquare Q2 Results. Commenting on selected results for the second quarter that ended June 30th, Townsquare Media chief executive officer Bill Wilson remarks that, as expected, the company’s “second quarter financial results were significantly impacted by the COVID-19 pandemic.” Net revenue and Adjusted EBITDA declined 34.5% and 93.1%, respectively, as compared to the prior year. Advertising net revenue throughout the quarter, however, “experienced sequential improvement,” Wilson reports. “Together with our Live Events, net revenue has experienced the brunt of the negative business impact.” To Wilson’s point, one second quarter highlight is that, compared to the second quarter of 2019, Live Events net revenue decreased 99.5%. Wilson observes that by the end of the second quarter, “Advertising net revenue had materially improved, from -42.1% in April to -29.6% in June and continued to show improvement through July and early-August.” Townsquare Interactive added approximately 900 net subscribers, ending the quarter with approximately 20,750 subscribers, with Wilson commenting, “Townsquare Interactive’s growth continued in the second quarter, with net revenue increasing 10.5%, at an Adjusted Operating Income margin in excess of 30%, marking the ninth consecutive quarter of 850 (or more) net subscriber additions. During this pandemic, the Townsquare Interactive team became a tremendous resource for their local clients by strengthening online presence and capabilities and powering their online communication strategy. Our thesis has always been, that Townsquare Interactive is a recession-resistant subscription business and will continue to grow its revenue and subscriber base throughout the year.” Wilson explains that Townsquare Media “enacted approximately $1.7 million of monthly fixed cost savings during the second quarter, in addition to the reduction of variable costs related to the decline in revenue, which led to total direct operating expenses declining 14.8%, compared to the prior year. In addition, we have reduced our planned capital expenditures, which declined 30% in the second quarter compared to the prior year. Our board of directors elected to cease paying our quarterly dividend moving forward. Even with all the challenges and unknowns during this pandemic, we have not had to alter our core strategy. Instead, the pandemic placed a spotlight on the need to double-down on executing our existing long term strategy. We believe our ‘Local First’ strategy, together with our talented team and diversified and differentiated product offering, ensures that Townsquare will emerge from this crisis well-positioned for the future. Although a very tough Q2, we believe our revenue, profit and cash flow results will be among the best in the radio – as well as in the local media – industry.”
Why Are “You” Voting? That’s the simple question iHeartMedia is putting forth to listeners, cultural influencers, athletes, and musicians. It’s in advance of the November election, of course, when – in addition to the presidential contest – Americans will be voting for 35 Senate seats and all 435 House of Representative seats. Soundbites start today (Monday, 8/10) and run until Election Day (11/3). President of iHeartMedia entertainment enterprises John Sykes states, “With voter turnout expected to hit record numbers, ‘Why I’m Voting’ presents a rare opportunity for people of all backgrounds and beliefs to have their voices heard by millions of their fellow Americans before we cast our votes.” Listeners can record/submit their own 20 second or less audio or video message. Meanwhile, also debuting today (8/10) and running through Election Day is iHeartMedia’s longer-form “Why I’m Voting” podcast, which will feature conversations with a wide-range of celebrities on why/how this year’s election will shape our future. The podcast will showcase personal stories behind why voting means so much for our nation. The “Why Are You Voting” series of soundbites will air on iHeartMedia’s 850+ broadcast radio stations in 160 markets, podcasts, social media platforms, and the iHeartRadio app.
Podcast Ad Spending to Surpass $1 Billion Next Year. That forecast further predicts that more than one in five digital radio ad dollars will go toward podcasts. By the end of this year, podcast ad spending in the United States will reach $782 million, up 10.4% from last year, giving it a 21% share of the US digital radio ad market. Spending is expected to jump nearly 45% next year to $1.13 billion. Insider Intelligence eMarketer forecasting director Shelleen Shum comments, “Growth in podcast advertising spend will be more resilient this year relative to digital radio advertising as a whole, which will see double-digit declines. The continued growth in podcast advertising is no surprise, as investments have made podcasts accessible to a wider audience. The news genre, a focus of many podcast advertisers, has performed well during the pandemic. While some ad campaigns were paused due to the uncertainty from COVID-19 lockdowns, we expect a rebound in Q3 and Q4. One key challenge in podcast advertising is the lack of uniformity in measurement. [The Interactive Advertising Bureau] has released a set of guidelines to establish a common set of ad metrics for podcasts, which should bring some standardization to the industry and give advertisers more confidence.” This year, 105.6 million people in the US will listen to podcasts, the first time podcast listening will surpass 100 million.
KYW Silences Familiar Sound. Owing to pandemic-related budget cuts, a number of well-known voices on spoken-word and music-intensive formats across the country have been eased off the air. A longtime fixture at Entercom Philadelphia’s KYW “News Radio 1060” is gone, but it had nothing to do with the bottom line or COVID-19 – and it isn’t a human. The station has eliminated the teletype sound effect that – for decades – has been played underneath its news broadcasts. With tongue planted firmly in cheek, KYW program director/brand manager Alex Silverman remarks to The Philadelphia Inquirer, “They stopped making the ribbons for the trusty teletype in 1986 and our supply finally ran out; so, old reliable is out of commission until further notice.” To that, co-owned WIP “Sports Radio 94” brand manager Spike Eskin mocks in a tweet, “Just excuses again from Alex Silverman. Are we to believe he couldn’t find a new one on Ebay, or simulate the sound somehow? Does he think we are fools?” On a more serious note, Silverman states, “As technology has evolved over the years, so has KYW. The sound of the station should reflect the modern, nimble, multi-platform news organization we’ve become.” KYW has recently updated its jingle and logo. Entercom’s other top ten market news and news-talk hybrids include: WCBS-AM and WINS, New York City; KNX, Los Angeles; WBBM-AM & WCFS-FM, Chicago; KCBS-AM, San Francisco; and KRLD-AM, Dallas.
Leadership Training Program Accepting 2021 Applications. Designed to prepare senior-level broadcasters to advance into ownership or executive positions, the NAB’s Broadcast Leadership Training (BLT) program is accepting applications through August 19 for next year’s session. BLT program founder and dean/ ShootingStar Broadcasting founder, president, chief executive officer Diane Sutter states, “As we transition to a hybrid online and in-person model, we look forward to expanding the reach of the Broadcast Leadership Training program. Now, more than ever, it is imperative that we cultivate the next class of diverse industry leaders and equip them with the knowledge and training to advance their careers.” As it moves into its 21st year, this executive MBA-style program teaches the fundamentals of purchasing, owning, and operating radio and television stations to senior-level broadcast professionals. All education sessions planned through the end of 2020 will be held online, with the starting gathering to be held next month (9/24 – 25). Broadcast professionals from all areas of the industry, including general managers, sales managers and department heads, as well as regional and corporate executives, are encouraged to apply. Fellowship opportunities are available for women and people of color. The complete schedule will be made available in early-October.
TALKERS News Notes. Starting one week from today (Monday, 8/17) and lasting through next Thursday (8/20), ABC News Radio is set to cover this year’s Democratic National Convention and plans to do the same the following week (8/24 – 27) for the Republican National Convention. Aaron Katersky and Karen Travers will anchor; Alex Stone, Ryan Burrow, and Jim Ryan are slated to serve as reporters; and Steve Roberts joins for analysis. Multiple one-minute “Status Reports” will air each night, as will the network’s daily Brad Mielke-hosted podcast, “Start Here.” Meanwhile, each day during the conventions, the Karl & Klein-hosted podcast “Powerhouse Politics” will release special editions featuring interviews and analysis … Former iHeartMedia Jacksonville senior vice president of programming Tommy BoDean joins Cumulus Media as operations manager of its four-station Melbourne (Florida) cluster, which includes sports talk WLZR “1560 The Fan.” Cumulus Media regional vice president Pete DeSimone comments, “I am really excited Tommy is joining the Cumulus Melbourne team. He’s going to make an immediate impact – and at a time [when] programming and operational leadership are critical.” BoDean adds, “The world we live in is changing every minute; radio has not just an opportunity, but an obligation, to get plugged in and help. Now is the perfect time to step into a role that both challenges and excites me every day.” In addition to his OM duties for WLZR and classic rock WROK “95.9 The Rocket,” BoDean will be the day-to-day program director for CHR WAOA “107.1 A1A” and country WHKR “102.7 Nash FM.” He previously was operations manager for iHeartMedia Cincinnati and programmed Nashville CHR WNFN “Hot 106.7.” … Effective today (Monday, 8/10), Bustos Media Tucson’s KVOI “AM 1030 The Voice” adds “The Joe Walsh Show” to its weeknight (7:00 pm – 9:00 pm) lineup and shifts “Our American Stories with Lee Habeeb,” which had been in that slot, to 4:00 pm – 6:00 pm … Twenty-year Spokane television and radio journalist Teresa Lukens will return to Morgan Murphy Media Spokane’s KXLY-AM “920 News Now” next Monday (8/17) as morning drive co-host. After three years as a reporter on KXLY-TV’s “Good Morning Northwest,” Lukens transitioned to radio as morning host on co-owned KXLY-FM “Classy 99.9 FM” and then as news anchor on KXLY-AM. Lukens left KXLY-TV in 2010 and hosted “Health Matters” on Spokane public television outlet KSPS.
Music Radio News and Career Moves. Every Friday this month, iHeartMedia San Antonio joins forces with San Antonio Metro Health for the “Friday Night Virtual Dance Party” (7:00 – 7:30 pm). Participating stations within the iHM cluster include adult contemporary KQXT “Q-101.9”; CHR KXXM “96.1 Now;” country KAJA “KJ-7″; and Spanish contemporary KZEP “104.5 Latino Hits.” According to iHeartMedia San Antonio senior vice president of programming Jason McCollim, “There is nothing like the power of music. [We] are excited to partner with our friends at San Antonio Metro Health for ‘Friday Night Virtual Dance Party’ [and] look forward to raising our community spirit during these challenging times – all while abiding by the state’s safety guidelines to fight the COVID-19 virus.” Mayor Ron Nirenberg notes, “We want to send an encouraging and positive message to San Antonio to keep doing the things that make our city great, but do them in a safe way so we can continue to stop the spread.” … A country music special hosted by four-time Entertainer of the Year Luke Bryan is among several, three-hour ABC Audio Labor Day weekend specials. “Luke Bryan: Born Here Live Here Die Here” takes listeners through each song on Bryan’s new album, which has produced three #1 singles. “Labor Day Rock Salute: Frontline Edition – From Speakeasy” honors frontline workers who stepped up during COVID-19. Hosted by ABC Audio’s Matt Wolfe, the special features hits from artists including ZZ Top, Alice Cooper, and Stevie Nicks. Top rock artists will also share what they’ve been up to during lockdown. Meanwhile, the Aaron Katersky-hosted news special “How America Works Now” explores how people are coping through the pandemic. It questions what the future of American life and labor may look like, and puts a spotlight on those adapting to the new normal … “CMT After MidNite with Cody Alan” takes over 12:00 midnight – 5:00 am duties in Santa Rosa, California on Amaturo Sonoma Media Group-owned KFGY “Froggy 92.9 Today’s Country.” Alan comments, “Our show is excited to be a part of the ‘Froggy 92.9’ lineup. We already feel like part of the ‘Froggy’ family. I can’t wait to get to Sonoma for a visit to wine country.” Amaturo Sonoma Media Group vice president of programming and operations Jim Murphy notes, “Cody creates unique, multiplatform content that really resonates with country fans; we couldn’t be happier to welcome him to the ‘Froggy’ family. The station’s revised lineup includes: Amber & Tanner (5:00 am – 10:00 am); Jenn (10:00 am – 3:00 pm); Dano (3:00 pm – 7:00 pm); Lia (7:00 pm – 12:00 midnight); and “CMT After MidNite with Cody Alan” (12:00 midnight – 5:00 am) … Former four-year wakeup duo at Hubbard Broadcasting St. Louis’ WIL “New Country 92.3, Bud Ford and Jerry Broadway (“Bud & Broadway”), sign with Houston-based SuiteRadio for morning show syndication, gearing up for next month’s start (9/7). The show will be represented on a market exclusive basis by Colbert Media Group. Prior to exiting WIL this past May, “Bud & Broadway” worked in Tulsa and Dothan, Alabama.
Tidwell Tapped as iHM San Antonio SVP/Programming. Inbound from Tucson where he was iHeartMedia‘s senior vice president of programming, Lance Tidwell transfers to San Antonio for similar duties. Executive vice president of programming for iHeartMedia major markets Brad Hardin comments, “I am extremely pleased to welcome Lance to the iHeartMedia San Antonio family. Tidwell is a strong talent and has had much success in his tenure with iHeartMedia. His programming acumen and depth of experience will allow him to ramp up quickly and build immediate relationships with the programming and sales team.” San Antonio market president Marlene Trevino remarks, “I am excited that our San Antonio programming operations will be led by Tidwell. He understands our company¹s vision to be innovative with every move. Lance¹s experience collaborating with programming and sales teams will provide us and our partners with unbeatable forward momentum in the continued evolution of our brands in the San Antonio market.” Tidwell notes that he is “grateful” to Trevino and Hardin “for the chance to work with these great brands and team in San Antonio. I am eager to get started and lead the market to continued growth and success.” In addition to having programmed in Seattle, Memphis, Hartford, Monterey-Salinas, and New Haven (Connecticut), Tidwell was chief operating officer for Southern Star Broadcasting. With 6+ share/market ranks from the most recent Nielsen Audio PPM sweep in parentheses (July 2015), iHeartMedia’s San Antonio cluster consists of country KAJA “KJ-97” (6.0, #3); mainstream CHR KXXM “Mix 96.1” (4.8, #5); adult contemporary KQXT “Q-101.9” (4.7, #6); talk WOAI (4.2, #10); rhythmic CHR KZEP “Hot 104.5” (2.1, #19); regional Mexican KQXT-HD3 (1.8, #20); sports KTKR “The Ticket” (.6, #26); and classic country KRPT “B-Buc” (.2, #27).
CBS Radio Q2 Revenue Off 5%. While second quarter revenue for CBS Corp. increased 1% to $3.22 billion from $3.19 billion in 2014, CBS Radio revenue declined 5%. Executive chair Sumner Redstone states, “CBS is at the center of the action during an extremely exciting time in media. We continue to succeed as a result of our world-class content.” According to president and chief executive officer Les Moonves, “This quarter underscores the key steps we are taking to build out our long-term growth strategy. Our premium content remains the cornerstone of our success, and I am confident this fall’s new primetime lineup will lead us to another victory next season.” The company’s local broadcasting revenue was down 2% to $654 million from $665 million, as television station revenue was up 1%, and local broadcasting operating income (OI) fell 8% to $198 million from $215 million. The company posted net earnings of $332 million, down from $439 million in the year-ago period.
Nielsen Audio Releases Third Round of July 2015 PPM Data. The third of four rounds of July 2015 PPM ratings data from Nielsen Audio has been released for 12 markets including: Portland, Charlotte, Pittsburgh, Sacramento, San Antonio, Cincinnati, Cleveland, Salt Lake City, Las Vegas, Kansas City, Orlando, and Columbus. The July 2015 survey period covered June 18 through July 15. You can find the complete ratings from subscribing stations here. Additionally, TALKERS and RadioInfo managing editor Mike Kinosian provides his “Ten Takeaways” from this group on the main page of our sister publication here.
National Radio Hall of Fame Nominees Announced. The 24 candidates in six categories were determined by the organization’s steering committee. National Radio Hall of Fame chair Kraig Kitchin brings back public engagement through social media balloting in the “Music Format On-Air Personality” and “Spoken Word On-Air Personality” categories. This is the first time that will be done in the last five years. “This impressive list of nominees represents the best examples of talent with commendable audience relationships past and present,” Kitchin declares. “Each individual and show was selected after extensive deliberation by the steering committee. We are all looking forward to seeing the results as determined by our industry peers and listeners nationwide.” The four nominees to be voted on by a participant panel in the “Longstanding Local/Regional (20 years or more)” category are Tom Barnard (Minneapolis); Johnny Dare (Kansas City); Johnny Holliday (Washington, D.C.); and Ronn Owens (San Francisco). Those in the “Active Local/Regional (10 years or more)” category are “Big Boy” – real name Kurt Alexander (Los Angeles); Preston Elliot and Steve Morrison (Philadelphia); Eric Ferguson and Kathy Hart (Chicago); and Garland Robinette (New Orleans). The four candidates in the “Networks/Syndication (10 years or more)” category include Tom Kent (Cleveland); Dave Ramsey (Nashville); Diane Rehm (Washington, D.C.); and Michael Savage (San Francisco). Those in the “Longstanding Network/Syndication (20 years or more)” category are Bob Kevoian & Tom Griswold (Indianapolis); Bob Kingsley (Weatherford, Texas); “Marketplace” (Los Angeles); and Harry Shearer (Los Angeles). Nominees to be voted on by listeners nationwide in the “Music Format On-Air Personality” category are Delilah (Seattle); Elvis Duran (New York); Steve Harvey (Atlanta); and Ryan Seacrest (Los Angeles). In the “Spoken Word On-Air Personality” category, the nominees are Sean Hannity (New York); Clark Howard (Atlanta); Jim Rome (Los Angeles); and Dr. Laura Schlessinger (Los Angeles). Voting begins today; names of the winners will be revealed in just over three weeks (8/31). The induction ceremony will be held in three months (11/5) at the Museum of Broadcast and Communications in downtown Chicago.
NextRadio, CBI Team To Find Best Radio Spot. College students are encouraged to create/submit a 60-second radio spot, as NextRadio and College Broadcasters Inc. (CBI) join forces to find the “best-of-the-best in radio spot ads.” According to NextRadio president Paul Brenner, there are currently 50,000 – 70,000 radio spots that run each month supporting the NAB National Awareness Campaign, which launched in February; “this is a huge opportunity for students to have their radio spot played nationally among thousands of broadcast stations and heard by millions. We will get the opportunity to showcase rising talent for the radio industry.” CBI president Greg Weston comments, “CBI is thrilled to team with NextRadio to offer students from our media outlets this unprecedented opportunity to have their work appear in front of millions of listeners. Not only will the winners get national exposure for their talent, they will be able to take advantage of the educational opportunities available to them at the National Student Electronic Media Convention.” First-place winner will have his or her 60-second spot included in “flight four” of the NAB National Awareness Campaign, which starts October 1. The contest begins one week from next Monday (8/17) and will run through September 18; winners will be announced September 28.
Westwood One, PGA of America In Multiyear, Multiplatform Deal. Live hole-by-hole coverage of the PGA championship returns to Westwood One for the first time in a decade. In addition, Westwood One will provide short-form updates, as well as a Brad Heller-anchored recap show, “The PGA Championship Tonight.” Senior vice president of sports for Westwood One (and parent company Cumulus Media) Bruce Gilbert remarks, “Westwood One is proud to present the 2015 PGA championship. It is a very exciting time in professional golf with so many terrific stories this year. Our team is prepared and excited to describe the remarkable performance of the world’s best players live from the PGA championship for the next few years.” PGA of America chief commercial officer Jeff Price states, “Westwood One and SiriusXM are synonymous with live, major sports event broadcasting. The PGA of America is delighted that we will partner with these two world-class radio partners to bring the drama and excitement of the PGA championship to fans.” Broadcast coverage from the PGA championship at Whistling Straits Golf Course in Kohler, Wisconsin begins one week from today (Thursday, 8/13). It will run through (Sunday) the 16th and can be heard on SiriusXM, Westwood One Sports affiliates, and WestwoodOneSports.com. SiriusXM PGA tour radio host Earl Forcey will anchor the joint coverage from the 18th tower, while former pro golfer/Golf Channel host Charlie Rymer will be lead analyst. Westwood One’s Ted Emrich will anchor short-form reports from the course, and provide leader board updates during the long-form coverage. Looking ahead, Westwood One Sports will provide PGA championship coverage next year from Baltusrol Country Club in Springfield, New Jersey and, in 2017, from the Quail Hollow Country Club in Charlotte.
2016 Presidential Candidates-GOP Debates, Nashville Theater Attack, Iran Nuclear Deal, Immigration Policy Debate, Hillary Clinton Email Investigation, Baltimore Gets Help with Violence, MH370 Debris Confirmed, and Deflategate Flap Among Top News Stories Yesterday (8/5). The activities of the candidates for president in 2016 and tonight’s GOP debates; the thwarted attack on a cinema in Nashville on Wednesday; the political battle over the proposed nuclear deal with Iran; the ongoing controversy over America’s immigration policy; the Feds supply help to Baltimore’s police in battling the explosion of murders in the aftermath of the Freddie Gray slaying; the plane debris found last week is confirmed to be from Malaysia Airlines flight MH370; and the NFL’s deflategate case were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.