Tag: "Paul Corvino"
Emmis Revenue Down 4% in Fiscal Q4. Radio revenue in the fourth fiscal quarter of 2018 for Emmis Communications was $22.2 million, down 4% pro forma for the sale of its Los Angeles and St. Louis radio stations. For the full fiscal year of 2018, pro forma revenue was $108 million, down 2% in markets that were down 1%, according to Miller Kaplan data. Emmis CEO Jeff Smulyan says, “While the fourth quarter didn’t finish as strongly as we would have liked, we are seeing significant strength as we commence the new fiscal year. Emmis’ first fiscal quarter is pacing up 5%, and ticket and sponsorship sales for Hot 97’s Summer Jam, Emmis’ largest event which occurs in June, are pacing well ahead of last year. Our renewed focus on digital is bearing immediate fruit, with Q1 digital revenues pacing up 50%. Ratings remain strong across all our brands and I’m confident that our ratings success will allow us to sustain this growth. With the scaling down of NextRadio that occurred last year, coupled with the company’s recent refinancing, Emmis has one of the best balance sheets in the radio industry, which has been enhanced by our strong operational start to this fiscal year.” In the report, Emmis noted that it completed a refinancing of its credit facility on April 12. The refinancing lowered the company’s cost of capital from 10.5% to 5.8%.
Urban One Q1 Broadcast and Digital Net Revenue Up 6.1%. First quarter financial data from Urban One, Inc. shows the company as a whole posted net revenue of approximately $98.4 million, a decrease of 1.2% from the same period in 2018. However, the broadcast and digital sector’s operating income was approximately $34.5 million, an increase of 6.1% over Q1 in 2018. Operating income during 2019’s first quarter was approximately $16.1 million compared to approximately $7.3 million for the same period in 2018. Net loss was approximately $6.7 compared to net loss of approximately $22.6 million for the same period in 2018. Urban One CEO and president Alfred C. Liggins, III comments, “While our radio division finished the quarter a little softer than expected, the Q2 pacings show a strong rebound, with April up mid-teens and Q2 overall pacing up high single-digits. TV One advertising revenues performed nicely, with ratings remaining relatively stable, and subscriber churn was largely offset by contractual rate increases. Our digital segment was impacted by the timing of a tent-pole event, which caused some revenue to spill over into Q2, however the reorganization of expenses that occurred at the end of 2018 meant that the division delivered a much-improved EBITDA performance. Our investment in MGM National Harbor continues to perform well, with first quarter net gaming revenues up by 5.6% year-over-year. We remain focused on deleveraging, and during the first quarter we reduced indebtedness by $21.8 million.”
Beasley Ups Heidi Raphael to Chief Communications Officer. Corporate communications pro Heidi Raphael is promoted to chief communications officer at Beasley Media Group. Raphael had been VP of corporate communications. She joined Beasley in 2017, coming over from Greater Media – where she’d been for two decades – after Beasley acquired its assets. Beasley CEO Caroline Beasley says, “Heidi has proven time and time again that she is most deserving of being promoted to the position of chief communications officer. While she’s only been at our company for two years, she’s accomplished more than others would in five! We are so very proud and lucky to have her in our Beasley Media Group family.” Raphael currently serves on the boards of the Library of American Broadcasting Foundation, the Broadcast Education Association and the Florida Association of Broadcasters. In addition, she is a member of the Mentoring and Inspiring Women in Radio Group executive committee.
Chelsey Waddell Named Director of Marketing for iHeartMedia Raleigh. Marketing pro Chelsey Waddell is appointed director of marketing and promotions at iHeartMedia’s Raleigh station group that includes WTKK-FM “106.1 FM Talk” and four music-formatted stations. Waddell previously served in marketing and promotions positions with Radio One in St. Louis and Cumulus Media in Melbourne, Florida. In this position she’ll work closely with the promotions, events, sales, and programming teams in developing and executing marketing for the Raleigh market’s iconic brands and franchises and will be responsible for developing and creating marketing strategies to increase brand awareness, enhance business relationships, and will assist with increasing revenue growth for the market. She says, “I’m excited to join the iHeartMedia market-leading team in Raleigh. I’m looking forward to growing brand engagement among our audiences while driving continued revenue for the stations.”
Shosh Abromovich to Lead iHeartMedia Toledo. Radio sales pro Shosh Abromovich is promoted from SVP of sales for iHeartMedia’s Toledo operations to market president. iHeartMedia region president Paul Corvino says, “Shosh has done an excellent job at leading our sales teams in the Toledo market. She truly understands the value of iHeart’s full spectrum of services and unmatched assets, including radio, podcast, digital streaming, social media and mobile as well as OTT in relation to creating effective branding and results-driven marketing programs.” The Toledo cluster includes news/talk WSPD-AM/W225AM and sports talk WCWA-AM “FOX Sports Toledo” in addition to five music brands.
TALKERS News Notes. The nationally syndicated Chad Benson show announces it adds a number of affiliate stations to its roster. Recently adding the Radio America-syndicated show to their program schedules are: Hubbard Radio’s WFTL-AM, West Palm Beach and KSLM-AM/FM, Portland and Townsquare Media’s KKAM-AM, Lubbock, Texas; KTPI-AM/FM, Lancaster, California; and WNWF-AM, Evergreen, Alabama…..SiriusXM is presenting comprehensive play-by-play and talk coverage of the PGA Championship taking place next week at Bethpage Black Course on Long Island. Live hole-by-hole coverage, which SiriusXM will co-produce with Westwood One, will air starting at 12:00 pm ET all four days of Championship play. The broadcast will be hosted by Brian Katrek and Taylor Zarzour who will handle the play-by-play.
The Mueller Report/Trump’s Executive Privilege, NYTimes Trump Piece, 2020 Presidential Politics, U.S.-China Trade War, Facebook Bans; Gaza-Israel Violence, and the Royal Baby Among Top News/Talk Stories Yesterday (5/8). The claim by President Trump that the release of the unredacted Mueller Report is up to him; the New York Times piece on Trump’s business losses from 1985 to 1994; the Democrats vying to challenge Trump in 2020; the trade war between the U.S. and China and the reactions of the world’s financial markets; Facebook’s ban of “dangerous individuals and organizations”; the violence between Gaza and Israel; and the birth of the royal baby 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. Radio programming pro Dustin Kross joins Radio One to serve as CHR format director in charge of the company’s WNOW-FM, Indianapolis “RadioNOW 100.9” and KROI-FM, Houston “RadioNOW 92.1.” Kross comes to Radio One from his most recent position as program director and morning host for Cumulus Media’s CHR KLIF-FM, Dallas “HOT 93.3.” Radio One vice president of programming Colby Tyner says, “We are excited to be working with Dustin, his expertise and passion for the top 40 format is just what we need in Houston and Indy.”…..The WHQC, Charlotte-based, regionally syndicated “Ace & TJ Show” announces it has officially named Laura Vinson, a.k.a. Intern Sass, a permanent member of The Ace & TJ Show. She began her career with The Ace & TJ Show as an intern in January 2018. Vinson says, “I’m excited and honored to be the newest member of ‘The Ace and TJ Show.’ I’m thankful for the overwhelming amount of support. I can’t wait to bring more sass and continue this journey with our radio family.”…..United Stations Radio Networks is distributing “The Summer of 1969,” produced and hosted by Dick Bartley, in honor of the 50th anniversary of the summer of 1969. The radio special will be available for air this summer and is perfect for classic hits/oldies-formatted stations. Music in the special will include many of the biggest songs of that summer, including major hits from The Beatles, The Rolling Stones, Stevie Wonder, Creedence Clearwater Revival, Blood, Sweat and Tears, and Crosby, Stills and Nash, as well as great novelty hits like “Sugar Sugar” from The Archies.