Tag: "Oak Tree Capital"
Townsquare Media to Go Public with IPO Hoping to Raise $144 Million. The negative spin on this story is that by going public, Townsquare Media becomes another company that must serve shareholders first – with all that that implies. But the reality is that Townsquare’s backers – Oaktree Capital and GE Capital (with 62% and 18% stakes, respectively) – have poured a lot of cash into building the company’s portfolio of 312 radio stations and number of digital publications. The company is sitting on $645 million of outstanding debt and the IPO would help put a dent in that if it raises the $145 million it hopes for. The one aspect of the company’s balance sheet that is turning radio industry watchers’ heads is that, according to its S1 filing, 26% of its revenue is coming from the non-radio end of its operations. At this point, there is no timetable for the IPO or any report of how much shares will be sold for.
New England Radio Pro Brad Shepard Exits WHYN, Springfield. For the past 11 years, Brad Shepard (left) has co-hosted the morning drive program alongside Bo Sullivan (right) on Clear Channel’s news/talk WHYN, Springfield, Massachusetts. Now, the station appears to be going with Sullivan alone in the driver’s seat as CC’s Jennifer Powers confirms to Masslive.com that “Brad Shepard is no longer part of WHYN mornings. We appreciate all of his contributions during his time with us and wish him well.” Prior to joining Clear Channel Springfield in 2000, Shepard was morning host at crosstown AC WMAS-FM for seven years. The move appears to be budget related like most of the talent cuts taking place at Clear Channel that TALKERS and RadioInfo have reported this week.
TALKERS Career Moves. Las Vegas radio pro Tom Humm inks a new, five-year deal to remain in his vice president and market manager role at Beasley Broadcast Group’s station group there that includes four music stations and news/talk KDWN…..Nicky Sparrow is named the director of sales for the Clear Channel New Orleans station group that consists of six music outlets and news/talk WRNO-FM “Rush Radio 99.5.”
WGN, Chicago to Unveil ‘Walk of Fame.’ This Friday is the day Tribune Company’s WGN Radio will hold the WGN Radio Walk of Fame Induction Ceremony at Pioneer Court in front of Tribune Tower on Michigan Avenue. The ceremony will be broadcast live on WGN with hosts Steve Cochran and Bob Sirott introducing the 2014 Walk of Fame inductees and interviewing them or their family representatives. Being inducted this year are: Spike O’Dell, Orion Samuelson, Kathy O’Malley, Wally Phillips (represented by wife, Barbara Phillips), Judy Markey, Quin Ryan (represented by his cousin, Justin O’Brien), Milt Rosenberg, Jack Brickhouse (represented by wife, Pat Brickhouse), Roy Leonard, and Bob Collins (represented by wife, Christine Collins).
The New York Festivals Announces International Radio Program Award Winners. Monday evening in New York City, the New York Festivals handed out honors to the winners in the 2014 competition The New York Festivals International Radio Program Awards. The broad competition included entries from all over the world in a wide spectrum of categories. Some of the winner from the United States included the American Forces Network; WGBH, Boston; Bloomberg News; and Gary Theroux Productions. Follow this link and you can search for winners based on country or category.
PodcastOne Targets Young Demos with Brody Jenner Show. The half-brother of the Kardashian sisters – Brody Jenner – is entering the world of podcasts with co-host and relationship expert Dr. Mike Dow for a weekly podcast titled, “The Brody Jenner Podcast with Dr. Mike Dow.” Brody – star of MTV’s “The Hills” – will focus on the love lives of celebrities and the podcast’s audience as they engage them through social media. PodcastOne founder and CEO Norm Pattiz says, “Brody Jenner has an amazing connection with exactly the target audience we want to build at PodcastOne. We’re now doing business with over 100 of the nation’s biggest brands. We know where we need to go and we’re betting that Brody and Dr. Mike Dow can help get us there.”
Odds & Sods. “America Now” host Andy Dean will appear on this Friday’s edition of “Real Time with Bill Maher” on HBO at 10:00 pm ET. The Premiere Networks-syndicated talk host will be on with journalist Bobby Ghosh and MSNBC anchor Joy Reid…..Former WEEI, Boston sports talk host Glenn Ordway’s digital effort “The Big Show Unfiltered” makes a move on its SiriusXM platform where it is also heard live from 3:00 pm to 6:00 pm ET. The show moves from channel 108 to channel 220 for Sirius subscribers but remains on 206 for XM subscribers. A press release from Ordway’s organization reports the show’s podcasts (which debuted on March 17) “have generated nearly 312,000 listener hours, up from over 252,000 individual listening sessions. Each of those individual listening sessions, on average, has lasted 1:14, a critical factor in developing listener loyalty.”…..The internet video sports entertainment project 120 Sports debuts this evening at 6:00 pm ET. 120 Sports is collaboration between Time Inc./Sports Illustrated, MLB.com, the NHL, Campus Insiders and Silver Chalice. 120 Sports is described as “a first-of-its-kind network partnership involving multiple leagues and media properties created for the digital generation and the devices it uses most. In 120 Sports, today’s fans will have access to unauthenticated video programming through a new platform built to intuitively integrate video and data in ways they haven’t experienced before. The 120 Sports product will debut as free native applications for mobile and tablet devices as well as a web experience at 120Sports.com and other distribution outlets.
Iraq Turmoil-U.S. Military Role, IRS Scandal Testimony, Influx of Illegals in Southwest, Primary Races/State of the GOP, Hillary Clinton Memoir-Financial Status, News Corp Phone Hacking Trial, LeBron James Watch, and World Cup Action Among Top News/Talk Stories Yesterday (6/24). The continuing march of ISIS toward Baghdad and the U.S. military’s potential role in the country’s security; the testimony surrounding the loss of Lois Lerner’s emails by the IRS; the massive influx of minor illegals in the Southwest and concerns about health problems and criminal activity; the primary races for the fall’s mid-term elections and debate over the state of the GOP; Hillary Clinton’s latest memoir and her statements about her financial status; verdicts in the News Corp phone hacking scandal; speculation about the future of NBA star LeBron James; and the hoopla over World Cup action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.