Tag: "Pam Russo"
NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the vibrant, one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS magazine, is now posted. This new episode titled, “Feeding an Environment of Fear,” looks back at this past week of February 22-26, 2021. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS magazine; Gary Sutton, talk show host, WSBA, York, PA; Dr. Daliah Wachs, talk show host, Genesis Communications Network / medical physician; Dr. Renee Kohanski, podcaster, Clinical Correlation, Medscape‘s MDEdge Psychcast / forensic psychiatrist; Rush Limbaugh, late talk radio icon; and Richard Neer, talk show host, WFAN, New York. The show airs each week on its flagship, WONK-FM, Washington, DC, Friday evenings at 6:00 pm ET. It also airs throughout the weekend on WTIC, Hartford; KSCO, Santa Cruz, CA; KDFD (“Freedom 93.7”), Denver; KFNX, Phoenix; WVLY, Wheeling, WV; WTRW-FM, Scranton/Wilkes Barre, PA; WVOX, Westchester, NY; KBDT, Dallas; KQSP, Minneapolis; KBKW, Aberdeen, WA; WGDJ, Albany, NY; WJFN-FM, Richmond, VA; WZFG, Fargo; KTGO, Tioga, ND; KWAM, Memphis; K-NEWS, San Luis Obispo; WGMD, Rehoboth Beach, MD; WCHM, Clarkesville, GA; WPHM, Port Huron, MI; KSYL, Alexandria, LA; KTOE, Mankato, MN; WCED (“Connect FM”), DuBois, PA; K-NEWS 101.3, Owensboro, KY; WWTK, Sebring, FL; WIZM-AM/FM, La Crosse, WI; WMVA, Martinsville, VA; the Virginia Talk Radio Network; CRN Digital Talk Radio Network; the iHeart Podcast Network; Pioneer Valley Radio, Springfield, MA; Podcast Radio, UK and many more. To listen to this week’s episode, please click here. To view the latest TALKERS magazine topic research, please click here. “The Michael Harrison Wrap” is now available in syndication via Talk Media Network to stations across America on a market exclusive basis. For affiliation information, please click here or call 616-884-8616.
iHeartMedia 2020 Q4 Revenue Down 8.8%; Full Year Revenue Declines 20%. Reporting its financial data for the fourth quarter and for the full year of 2020, iHeartMedia fares a little better than its two major competitors (based on the number of radio stations owned) Cumulus Media and Entercom Communications. Fourth quarter revenue was $935.5 million, a decline of 8.8% from the same period in 2019. For the full year, revenue was $2.9 billion, down 20% from the full year 2019. Although the company reports net income of $2.9 million in Q4 2020, that’s down 95% from the $62.1 million net income reported in Q4 of 2019. For the full year 2020, iHeartMedia reports a net loss of $1.9 billion. It reported net income of $11.2 billion in 2019. iHeartMedia says that strong sequential improvement is continuing since the height of the pandemic in the spring of 2020. It also reports that digital revenue increased 26% year-over-year, including a 91% increase in podcasting revenue. Company chairman and CEO Bob Pittman says, “We are pleased that the company continues its steady recovery from the COVID-19 downturn – and it’s particularly rewarding to see the impressive performance from our areas of strategic investment, like podcasting, SmartAudio, digital, and Ad Tech. In addition, with our new reportable segments, we will be able to provide additional insights into both our largest segment and our fastest-growing segment, and help highlight the key metrics and impressive performance of each.” iHeartMedia COO and CFO Rich Bressler adds, “Our swift response to the COVID pandemic and our diligent management of expenses throughout the year enabled us to successfully achieve approximately $250 million of savings in 2020. This cost management enhanced our operating leverage and helped us to achieve adjusted EBITDA of $265 million in the fourth quarter, which was an improvement of 64% over the third quarter. The continued sequential improvement of our revenue, adjusted EBITDA and free cash flow over the past three quarters has us well positioned for continued recovery into 2021, and our commitment to make the majority of the $200 million of COVID-19 related savings permanent will further enhance the company’s operating leverage as revenue recovers.”
iHeartMedia Unveils New Business Operating Structure. Saying that this new structure reflects the “increasing size and importance” of its digital businesses, iHeartMedia announces that its two divisions – the Digital Audio Group and the Multiplatform Group – will publicly report their financial data separately and will have dedicated management. The iHeartMedia Digital Audio Group includes the iHeartRadio digital service and its podcasting business while the iHeartMedia Multiplatform Group includes its broadcast radio assets. The company says that as of the fourth quarter of 2020, the Digital Audio Group encompassed almost 20% of the company’s consolidated revenue and 23% of its earnings, and during that quarter grew revenue by 53% year-over-year and Adjusted EBITDA by 74% year-over-year. The company expects the Digital Audio Group will continue to grow as an increasing proportion of its business in the future. It adds that separate reporting of these two operating segments will provide “improved visibility into the underlying performances, results and margin profiles of these distinct audio-driven businesses.” Here’s how it breaks down: The iHeartMedia Digital Audio Group includes the podcasting business; the iHeartRadio digital service; the company’s digital sites, newsletters, digital services and programs; and its digital advertising technology companies, including Jelli, RadioJar, Unified and Voxnest, and will also include the recently-announced Triton Digital upon completion of the acquisition. Leading the division will be Conal Byrne as CEO and Darren Davis as COO, with Carter Brokaw serving as the president of digital revenue and Jessica Jerrick as EVP of digital distribution and platform partnerships. Meanwhile, iHeartMedia Multiplatform Group – representing almost 75% of the company’s revenue – includes the 860-plus radio stations in 160 markets; the company’s live and virtual events business; and its national sales organization (which will use iHeartMedia’s full array of products, from broadcast radio and events to its SmartAudio suite of data targeting and attribution products, which allows informed digital-like planning against targeted audiences with the benefit of broadcast scale and impact, as well as using all of the products from the iHeartMedia Digital Audio Group). Premiere Networks, which includes the Total Traffic and Weather Network; and BIN: Black Information Network, will also join this group. Leading the iHeartMedia Multiplatform Group will be Greg Ashlock as CEO and Tim Castelli as chief revenue officer. Julie Talbott joins this group as president of Premiere Networks; Hartley Adkins becomes president of the Markets Group; Jeff Howard remains president of national sales and Tony Coles as president of BIN: Black Information Network. Bob Pittman says, “These new reportable segments will enable us to strengthen the mission and tighten the focus of both the iHeart Digital Audio Group and the iHeart Multiplatform Group, while accelerating our ability to deliver industry-leading products and services to our listeners and advertising partners across all of our platforms. Creating these two business reportable segments will allow us to provide the investment community with increased visibility into the financial results of each segment – enabling them to better appreciate the strong growth and success of our digital businesses, including our industry-leading podcast business, as well as the continued strength of our broadcast radio and marquee events businesses.”
Entercom Announces New Programming Leadership Structure. This enhancement of Entercom’s programming leadership structure for its central programming team leaves Pat Paxton in his current position as chief programming officer. He says, “This enhanced leadership team will supplement our premium content offering throughout our portfolio and ensure we have the premier collection of personalities engaging deeply with our audiences nationwide. It will also allow us to best integrate the innovation of new products and content so we are continuously growing the impact and reach of our offering and super serving our 170 million listeners each month.” In this new structure EVP of programming Jeff Sottolano continues to manage Entercom’s sports, all-news, and news/talk brands. He is also being charged with growing Entercom’s content insights and analytics capabilities and overseeing its network and syndicated content development. Dave Richards joins the central programming leadership team as senior vice president of programming, rising from his SVP of programming of KISW, Seattle for the last 19 years and having developed programs like “The Men’s Room” and concepts like KISW’s annual “Live Day.” In his new role, Richards will be responsible for original content ideation, talent development, and coaching. He’ll spearhead Entercom’s efforts to support its expanding business portfolio, which includes RADIO.COM, Cadence13, and Pineapple Street Studios, through the generation of cross-platform content. Michael Martin continues to serve as SVP of programming and music initiatives and oversees Entercom’s relationships with artists, management, and record labels and lead its efforts to collaborate with the artist community on event, digital, and social opportunities. The company also announces the following members of its executive committee, who will collaborate to develop and oversee programming strategy across the company: Pat Paxton; Jeff Sottolano; Michael Martin; Dave Richards; Pam Russo, SVP and general manager, RADIO.COM; Bill Smee, VP of news; Matt Volk, VP of sports; Nikki Nite, VP of programming and brand manager, Entercom Austin; and Reggie Rouse, urban format captain, Entercom, and brand manager, Entercom Atlanta.
Round Three of January 2021 PPM Data Released. The third of four rounds of ratings information from Nielsen Audio’s PPM survey has been released for 12 markets including: Portland, Charlotte, San Antonio, Sacramento, Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, and Columbus. The January 2021 survey covered January 7 – February 3. TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this round of markets. Alpha Media’s news/talk KXL-FM, Portland jumps from the #6 rank to #3 on the strength of 1.4 share increase that helped it finish the January survey with a 6.2 share. Urban One’s news/talk WBT-AM/FM, Charlotte tacks on 1.6 shares for a 6.6 share finish and a jump from #5 to #3. iHeartMedia’s news/talk KFBK, Sacramento regains the #1 rank after adding 2.4 share to wrap the survey with a 10.2 share. In Salt Lake City, iHeartMedia’s news/talk KNRS-FM also claims the #1 rank after adding 1.9 shares to post a 7.9 share. See Mike Kinosian’s complete report for this round or markets (as well as his Takeaways from the first two rounds) here.
TALKERS News Notes. As reported by Chicago media writer Robert Feder, WGN-AM, Chicago is honoring the memory of former morning drive host Bob Collins, who would have been 79 on Sunday (2/28). Collins died in a small plane collision in 2000. On today’s Bob Sirott morning show, staffers WGN toasted Collins this morning (2/26) at 7:48 and, according to tradition, poured from the bottle of Jack Daniel’s found in Collins’s office. Also on the air with Sirott today were retired WGN morning host Spike O’Dell (who succeeded Collins) and retired agribusiness reporter Orion Samuelson.…..The nationally syndicated “Dan Bongino Show” hits the 100 affiliate station mark a year after its launch. Cumulus Media’s Westwood One says that – in addition to being heard on stations like KABC-AM, Los Angeles; KSFO-AM, San Francisco; and KSEV-AM, Houston – from the November election through February 22, the Dan Bongino Show podcast “boasted more than 51 million downloads on Apple, Spotify and other major platforms, rising 27% during that period.” Bongino says, “Growing up a fan of conservative talk radio makes this moment extra special for me. To be able to reach people across the country with a strong pro-liberty, pro-freedom message is the honor of a lifetime. Special thanks as well to the affiliates partnering with us in this venture.”…..A new sports radio imaging service called Game Plan is being offered to stations from SPLAT! and is syndicated by Sun Broadcast Group. SPLAT! says GAME PLAN is “a new kind of sports radio imaging service, designed specifically to sharpen the competitive edge of local stations, while simultaneously complementing the power of network sports brands. With GAME PLAN, a local station’s imaging sounds just as bold and powerful as their network imaging, maybe even better.”…..Entercom and Major League Baseball’s Pittsburgh Pirates announce a multiyear radio broadcast contract extension for sports talk KDKA-FM “93.7 The Fan” to continue to serve as the Pirates’ flagship radio station. Under the terms of the new deal, all Pirates weekday afternoon games will air on “93.7 The Fan” and sister news/talk KDKA-AM/W261AX.
COVID-19 Stats, Vaccines and Variants Top News/Talk Story for Week of February 22-26, 2021. The falling number of COVID-19 cases in the U.S., the rollout of vaccines and the concern about variants creating another wave of cases combined as the most-talked-about story on news/talk radio this week and landing atop the Talkers TenTM. At #2 this week was the state of the U.S. economy tied with the education crisis. Following at #3 was the confirmation hearings for Joe Biden’s nominees for attorney general, interior secretary, and White House budget office, tied with Donald Trump’s planned speech at CPAC on Sunday. 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. See this week’s complete chart here.
Nick Reed Back in PD Chair at KSGF, Springfield, Missouri. News/talk KSGF-AM/FM, Springfield, Missouri morning personality Nick Reed is promoted to program director of the SummitMedia station. Reed joined the station in 2010 as PD and morning host but, for the past several years, has focused solely on his morning show. Now, he again takes on the program director role. SummitMedia Springfield president Janelle Moffett says, “Nick’s insight and years of experience are a great asset to our group. We’re fortunate to have him on our team!” Reed comments, “I am so very happy to be with KSGF under SummitMedia right now. There really is a positive energy underway that made me want to be back in the saddle as program director of KSGF.”
Cumulus Media Announces Pricing of $525 Million Senior Secured Term Loan B. In the process of announcing in the pricing of a new $525 million senior secured term loan B due March 2026, Cumulus Media says that upon the closing of the new term loan (expected next week), it “will have fully refinanced the $1.3 billion term loan that the company assumed upon emergence from Chapter 11 on June 4, 2018.” The new term loan will have an interest rate of LIBOR plus 3.75% with a 1.00% LIBOR floor, issued at 99.5% of par. Proceeds from this issuance, along with cash on hand, will be used to pay down and refinance the company’s existing term loan. Cumulus’ debt will then consist of the $525 million new term loan and $500 million of secured bonds issued in June 2019, representing a $275 million reduction in total debt since emergence. Cumulus says its financial position will be further improved by the lower interest rates and 2026 maturity of the new debt.
Erick Erickson Show Deep-Diving into Georgia Politics. The recently launched, WGAU, Athens, Georgia-based Erick Erickson show reports that it is doing what it intended to do when host Erickson and Cox Media Group first began considering the project – covering Georgia politics. Erickson’s new program is distributed statewide via the Georgia News Network, airing live from 9:00 am to 12:00 noon. The company says, “A month into the new Erick Erickson Radio Show, Georgia political leaders are taking advantage of having a new statewide radio program. In just the last three days, Erickson has interviewed Governor Brian Kemp, Senator David Perdue, and Congressmen Doug Collins and Jody Hice. Collins is the ranking Republican on the House Judiciary Committee and Erickson was able to interview Collins to update listeners on the headline-grabbing proceeding of that committee.”
WOR Live Event to Address ‘Rebuilding NYC’s Skyline.’ Next Wednesday (9/25), the “WOR Live” series at The Cutting Room brings in experts to discuss “Rebuilding NYC’s Skyline: Past, Present & Future.” This event is being moderated by Len Berman, co-host of “Len Berman & Michael Riedel in the Morning” on WOR, New York. Joining Berman at the lunchtime event will be: Gary LaBarbera, president of Bldg & Construction Trades Council NYC; John Murphy, international rep for United Assoc Plumbers and Pipe Fitters; Thomas Hill, SVP of Boston Properties; and Mark Gregorio, president of TEI Group.
TALKERS News Notes. At the “Drive to Digital 2019” conference taking place at London’s The British Library Knowledge Centre on October 30, Beasley Media Group CEO Caroline Beasley will be featured in the “Driving the Digital Dash” automotive portion of the conference. Beasley, along with numerous audio and tech experts from around the world, will share her insights on key automotive technology trends and the impact on radio listening in cars…..Entercom’s RADIO.COM platform is announcing a new, original podcast for New York Yankees fans, hosted by legendary Yankees play-by-play man John Sterling, titled, “Pinstripes & Bright Lights.” The weekly podcast will focus on baseball and Yankees history. RADIO.COM SVP and general manager Pam Russo says, “As part of our ongoing content strategy, we seek to diversify on-demand audio offerings on RADIO.COM, the premiere destination for live and on-demand audio and sports content in the U.S. John is a legendary broadcaster with an unprecedented reputation among baseball fans across the country and we’re looking forward to hearing his insider stories.”…..The nationally syndicated “Around The House with Eric G.” show – syndicated by Envision Networks – is added to the program schedule at Sinclair Broadcast Group’s KVI-AM, Seattle “Talk Radio 570.” Eric G. says, “After spending most of my design career in Seattle, it is good to be back home.”
Iran’s War Threats/Saudi Oil Attack, 2020 Presidential Race, Kavanaugh Allegations, Dems Impeachment Strategy, and New National Security Adviser Named Among Top News/Talk Stories Yesterday (9/18). Iran’s threat of “all-out war” after being accused of responsibility for the attack on a Saudi oil production facility; the Democrats vying to challenge President Trump in 2020; the allegations of sexual harassment against Supreme Court Justice Brett Kavanaugh and criticism of The New York Times’ opinion editor; the ongoing talk of impeachment of the president by congressional Democrats; and the naming of Robert O’Brien as the new national security adviser 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. In Northeastern Wisconsin, Roger Utnhmer is retiring, and his Nicolet Broadcasting is selling its five-station cluster – along with two digital local news platforms – to his sales manager, Bryan Mazur. Nicolet owns adult standards WBDK, Algoma; classic hits WRKU, Forestville; country WRLU, Algoma; WSBW, Ephraim; and translator W277BP, Sturgeon Bay. In a Facebook post, Utnhmer says, “I appreciate the great people who have made Nicolet Broadcasting a successful company. Those include Jeff Wagner in Antigo, Bruce McNeill in Eagle River, Paul Eck in Park Falls and Paul Schmitt and Tim Kowols in Sturgeon Bay. These guys made me look better than I really am… Thank you for being among the best of the best. And now to Bryan Mazur I wish you all success going forward. You are inheriting a very solid staff and one of the most beautiful markets in American radio.”…..Pictured below is Beasley Media Philadelphia air personality Kathy Romano (left) with ABC News and “Good Morning America” chief meteorologist Ginger Zee (right) at the 95.7 BEN FM 3rd annual Her Story Luncheon, held yesterday (9/18) in Philadelphia. Romano is co-host of WMMR’s “Preston and Steve” show as well as the weekly “Her Story” program on sister WBEN-FM. The program showcases dynamic women that are making a significant impact in the community via their business, their charity work or a combination of both.