Tag: "pro forma"
Beasley Media Group Reports Pro Forma Q4 Net Revenue Down 6.9%. Due to the number of recent acquisitions, sales and asset swaps Beasley Media Group has been involved in, the company’s financial reports can be a bit confusing. It is reporting a $4.8 million, or 9% year-over-year, increase in net revenue during the three months ended December 31, 2017. That figure reflects the inclusion of stations acquired from Greater Media in Boston, Philadelphia, Detroit and New Jersey (announced in the summer of 2016), partially offset by the disposition of the Charlotte and Greenville-New Bern-Jacksonville stations (to Entercom, announced in the fall of 2016) and strong non-recurring political advertising revenue recorded in the year ago fourth quarter. But the 6.9% dip in net revenue in the fourth quarter of 2017 is pro forma and reflects the company’s legacy Beasley Broadcast Group operations, the Greater Media stations, and the recent acquisition of sports WBZ-FM, Boston (exchanged with Entercom for WMJX-FM, Boston and $12 million), while excluding the Charlotte and Greenville-New Bern-Jacksonville stations and WMJX-FM, as if all transactions had been completed on January 1, 2016. In a press release, CEO Caroline Beasley states, “Throughout 2017, we continued to actively manage our station portfolio to extract operating and financial synergies from the acquired Greater Media stations, while implementing our proven strategies across our platform, which are focused on delivering strong local programming, diversifying our operations, managing risk and improving financial results. On a GAAP basis, fourth quarter net revenue rose 9.0% compared to the prior year, primarily reflecting the acquisitions and divestitures to our platform on a year-over-year basis. Pro forma net revenues for the three months ended December 31, 2017 declined 6.9% compared to the prior year period, reflecting $3.9 million in non-recurring political advertising revenue and softer national advertising revenue. The year-over-year decline was partially offset by a 6.5%, or $3.5 million, reduction in pro forma station operating expenses. As a result, Beasley’s fourth quarter pro forma SOI declined 7.8% year over year while SOI margins were relatively flat compared to the prior year period…Looking ahead to 2018, we intend to continue our strategic priorities of realizing synergy targets, reducing debt and leverage, taking advantage of political revenue opportunities, improving top and bottom-line performance and returning capital to shareholders through our quarterly cash dividend. With enhanced opportunities to monetize our strong core programming and local brands, we remain confident in the radio industry and in Beasley’s growing broadcast and digital platform. We look forward to realizing the strategic benefits of the WBZ transaction in 2018 and remain confident that our ongoing initiatives to drive sales, productivity and efficiency across our platform, combined with prudent management of our capital structure, is a proven formula for sustained long term financial growth and the creation of shareholder value.”
Dennis Miller Back in the Westwood One Fold. Comic, TV star, “SNL” alum, and former radio talk show host Dennis Miller is back with Westwood One, this time delivering two daily, one-minute programs to affiliate stations. Miller hosted a daily, midday talk show on WW1 for eight years. Now, he returns to the company with commentaries that present “his idiosyncratic take on topical issues, the culture, and what Americans are talking about in two distinct 60-second programs, Monday through Friday.” Westwood One EVP of News & Talk Bart Tessler says, “Dennis Miller is a multi-talented, multimedia comic icon and we are thrilled to have him back on Westwood One. Even with all his success, ‘The Miller Minute’ may be the best format yet for Dennis to entertain and inform listeners with his humor and idiosyncratic style. He can’t wait to re-engage with his radio audience, affiliates, and advertisers.”
WGR-AM , Buffalo to Roast Bills’ Fred Jackson. Buffalo sports talker WGR-AM is honoring former Buffalo Bills player Fred Jackson at the 4th Annual WGR Celebrity Roast this Thursday (2/15). The event is being hosted by WGR morning show host Howard Simon and will feature an all-star panel of former teammates, including: Eric Wood, Aaron Williams, Bryan Scott and Ryan Fitzpatrick, as well as Jackson’s own twin brother, Patrick Jackson. Entercom Buffalo SVP and market manager Greg Ried states, “The city of Buffalo is incredibly passionate about their hometown Buffalo Bills and Fred Jackson is a respected and beloved figure in the community. Jackson was a unanimous decision by the WGR team. For his determination, compassion and drive, on and off the field, we are excited to honor him at this year’s WGR Celebrity Roast.” The WGR Celebrity Roast has become a signature event in the Buffalo community. Former WGR Celebrity Roast honorees include former Buffalo Sabres players Marty Biron, Mike Robitaille and Rob Ray, as well as former Buffalo Bills player Andre Reed.
TALKERS News Notes. Former New England Patriots tight end Christian Fauria – now one-third of the WEEI, Boston midday show with Glenn Ordway and Lou Merloni – was suspended from the Entercom station for a week and issued an apology after a bit aired in which Fauria used a stereotypical Asian accent to imitate sports agent Don Yee. During the bit, Fauria was reading phony texts purported to be from Yee to Boston Herald sportswriter Ron Borges regarding Tom Brady’s contract situation with the Patriots…..In Philadelphia, “SportsTalk 94WIP” personality (and former Eagles player) Jon Ritchie was off the air last Friday (2/9) after being arrested for DUI and simple assault. According to Philly.com, Ritchie was arrested early Friday morning, hours after the parade in Philly celebrating the Eagles’ Super Bowl victory. The paper does not explain the circumstances surrounding Ritchie’s arrest. Ritchie co-hosts the midday show with Joe DeCamara…..Dayton sports talk station WING-AM has a new program director as Justin Kinner is promoted from the interim PD position. Alpha Media says that Kinner previously worked as the afternoon drive host at WING-AM. He also has experience as an account executive in the market. Alpha Media Dayton OM Bo Matthews comments, “It was clear from the moment I arrived that Justin was the guy to become the new PD of WING-AM. I wish I could bottle up his passion and excitement and pass it around.”…..Twin Cities sports media figure Patrick Reusse is leaving KSTP-AM’s “Saturday Morning Sports Talk” program that he’s been co-hosting with Judd Zulgad. His role on the program will be taken over by KSTP Vikings reporter Matthew Coller. Reusse – who also writes for the Minneapolis Star Tribune – continues to host afternoon drive and the one-hour “SportsTalk” show he co-hosts with Joe Soucheray at 3:00 pm on the Hubbard Brodcasting station.
Rob Porter Resignation/#MeToo Movement, Trump-Russia Probe, Dow Selloff, North Korea Diplomatic Overtures, Iranian Drone Case, PyeongChang Winter Olympics, and NBA Action Among Top News/Talk Stories Over the Weekend. The aftermath of the resignation of White House aide Rob Porter over allegations of domestic violence and President Trump’s Tweet that the #MeToo movement is ruining careers; the Robert Mueller-led investigation into possible connections between Trump campaign operatives and Russian agents; the big Wall Street selloff that saw the Dow Jones Industrial Average lose more than 2,000 points; North Korea’s use of the Olympic games for diplomatic overtures and criticism of the America media’s “fawning” coverage of Kim Jong Un’s sister’s appearance at the Olympic Games; Israel’s shooting down of an Iranian drone modeled after a U.S. drone Iran captured several years ago; the athletic events at the Winter Olympics; and NBA action were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.
Music Radio News and Career Moves. In Birmingham, Cumulus Media appoints Phillip March program director for urban AC WUHT “Hot 107.7.” He was previously director of urban programming for Alpha Media’s Louisville, Kentucky stations. Cumulus Media Birmingham VP and market manager David Walls says, “We are elated that Phillip is joining our team. He brings experience, passion, knowledge and leadership to our team. He is a true leader and an outstanding teacher. It is a huge win for Cumulus Birmingham and for our community as well.”…..Program director Lauren MacLeash exits Entercom’s country KMNB, Minneapolis “BUZ’N” after a stint of more than three years with the former CBS RADIO cluster. The company is beginning a search for her replacement…..Beasley Media Group inks Terrie Carr to a multi-year deal to continue serving as program director and midday personality at WDHA-FM, Dover, New Jersey. Carr was elevated to program director last summer. She says, “I am both energized and honored to continue my career with my Beasley and WDHA family and for the opportunity to help lead the greatest air staff a person could ask for. The challenges, new pathways to technology, and sheer madness of our business keep me inspired beyond my wildest dreams every day!”…..Keith Barton is succeeding Dave Paulus as general manager for Max Media’s Norfolk cluster…..Curtis Media announces Max Miller and Amy Kay are teaming up for the “Max & Amy in the Morning” program on hot AC WMGV, Greenville-New Bern “V103.3.” Their program replaces the syndicated “Kidd Kraddick Morning Show.”
Entercom Names Sports Exec Mike Dee to New President Post. Named to this newly created position – president of Entercom sports – is professional sports executive Mike Dee. He comes to Entercom’s Philadelphia headquarters from San Diego where he was president and CEO of the MLB’s Padres. He’s also served as president and CEO with the NFL’s Miami Dolphins and as COO of the Boston Red Sox. In this new position with Entercom, Dee will be working on “creating value for the company’s sports business enterprise…with a focus on revenue development from national sales and marketing programs, new platform opportunities, key partnerships, expanded sports distribution, direct-to-consumer offerings and other entrepreneurial initiatives at the national level. He will be responsible for elevating Entercom’s position as a leading sports media partner in support of the company’s expansive suite of local sports radio stations and personalities and sports play-by-play relationships.” After the closing of the Entercom-CBS merger, the new company will have an increased portfolio of sports talk stations and affiliated digital platforms. Entercom CEO David Field states, “Mike is a highly talented and accomplished executive with over 20 years of leadership experience with some of the most respected organizations in the world of sports. The creation of this new role underscores our commitment to leveraging our sports platforms to compete more effectively with other media as we drive new opportunities and expand our customer base. Mike is uniquely equipped to help us develop cohesive national opportunities across sports and we are delighted to welcome him onboard.”
Ernie Brown New Host of ‘Trending Today.’ After the recent departure of host Rusty Humphries, Liftable Media announces it brings talk radio pro Ernie Brown aboard as the new host of “Trending Today USA.” Brown has worked in markets such as Houston, Austin, Cleveland, Las Vegas, and San Diego, as well as for seven years in mornings at KRLD, Dallas and five years at KOMO-AM, Seattle. Liftable Media CEO Patrick Brown says, “We are innovating and attempting something new in audio programing. We are creating a social media news feed program and placing that programing in traditional broadcast radio. We see over-the-air radio as a natural addition to the distribution points for the content we create every day.” The program is syndicated by the USA Radio Networks.
Beasley Broadcast Group Reports on First Quarter. This 2017 first quarter financial report from Beasley Broadcast Group is a bit more complicated due to the company’s acquisition of the Greater Media stations and the pending deal to sell the Charlotte stations. In reporting the 2017 and 2016 first quarter pro-forma results, these numbers reflect the legacy Beasley Broadcast Group broadcasting and digital operations and the results from the Greater Media stations, excluding the divested Greater Media Charlotte stations, as if the transaction had been completed January 1, 2016. Chief executive officer Caroline Beasley reports, “Our first quarter revenue, SOI and net income growth reflect the contributions from the Greater Media stations, partially offset by the absence of political revenue and softer national revenue trends. On a reported basis, the 95.7% increase in consolidated first quarter net revenue drove SOI growth of 31.1%. Pro forma revenue was down 5.7%, or $3.3 million, of which approximately $1.0 million was attributable to the lack of political revenue, with the remainder attributable to transitional matters related to the Greater Media stations as well as lower national revenues. This was partially offset by a 5.7% reduction in pro-forma first quarter operating expenses…On a stand-alone basis, Beasley legacy station revenue declined by $2 million, with approximately 35% of the decline related to the absence of political revenue and the remainder partially attributable to the reformatting of a station in Tampa-St. Petersburg market. The Greater Media properties had a first quarter revenue decline of approximately 4% on a stand-alone basis, which was attributable to the political spending levels, as well as certain specific integration-related issues particularly in Philadelphia and declines in national revenues.”
Hannity Denies He’s Trying to Get Out of Fox News Channel. In the immediate aftermath of the exit of Fox News Channel co-president Bill Shine, there was speculation in the form of a Mediaite piece citing Fox insiders who said Fox News Channel star Sean Hannity is negotiating his exit from the company and would probably be out by Friday. Hannity responded via Tweet to an Independent Journal Review story reporting that he is not negotiating an exit, writing, “If I have anything to say about @FoxNews, I will say it tonight at 10 est. All I’ll say now is this is true,” referring to the IJR report that he’s not leaving. With the recent ouster of Bill O’Reilly, and the exits of Megyn Kelly and Greta Van Susteren, there’s been a lot of chatter about wholesale changes at Fox News Channel, even a potential shift in programming philosophy. However, even as Fox adjusts its prime time programming, there doesn’t seem to be any evidence of major changes.
Beasley Retains Lori Burgess as Integrated Marketing Strategy Consultant. Working in area of content and advertising alignment, Lori Burgess is being retained by Beasley Media Group as an integrated marketing strategy consultant. The company says that Burgess’ expertise is a “focus on building revenue through creative multi-platform marketing and new media solutions.” In the past she’s worked with such brands as The Hollywood Reporter, Prevention Magazine, Conde Nast’s Mademoiselle and House & Garden; Elle Magazine; Seventeen Magazine, and Niche Media.
Salem Tweaks Lineup at KCBQ, San Diego. Saying it wants to use its two top-rated hosts in mornings, Salem Media Group adjusts the morning drive lineup on news/talk KCBQ-AM, San Diego “AM 1170 The Answer.” Beginning May 15, the Hugh Hewitt show will be expanded and air from 3:00 am to 7:00 am, followed by two live hours of the Mike Gallagher show from 7:00am to 9:00 am. Salem SVP of spoken word Phil Boyce states, “Salem Radio Network now provides live news and issue-oriented programming from 6:00 am to 12:00 midnight ET with some of the best hosts on radio. This new lineup will be well received in San Diego and will allow us to properly use the Salem assets at our disposal in the most efficient way. These two hosts are at the top of their game, and we’re delighted to give them more time in such an important market.”
TALKERS News Notes. Legendary Dallas station WBAP-AM is celebrating its 95th year on the air today (5/2). The Cumulus Media news/talk signal is one of the oldest radio stations in Texas. It was founded by Fort Worth businessman Amon G. Carter, creator and publisher of the Fort Worth Star-Telegram, and debuted on May 2, 1922, when stations in Texas were still given call signs beginning with a “W” instead of a “K.” Pictured at right is one of the station’s first remote broadcast vehicles…..There were a number of cuts at iHeartMedia stations yesterday (5/1), including KOA, Denver sports director Mark Johnson. He exits the station after 13 years there. He continues his duties as the radio play-by-play voice of the University of Colorado Buffaloes via his deal with Learfield Sports…..Also exiting an iHeartMedia station is sports talk host Matt Shepard, who departs WDFN, Detroit after 16 years there. The Detroit News reports that there were also cuts at the company’s Grand Rapids station group…..New York radio personality Sid Rosenberg – co-host of the Bernie & Sid midday show with Bernard McGuirk – is venturing back into the sports talk realm and will start hosting a weekend show on the CBS Sports Radio network on May 20 from 10:00 am to 2:00 pm.
Trump’s First 100 Days, Trump’s Andrew Jackson-Civil War Statements, Status of New Health Care Bill, Trump Budget, UT Stabbings, Trump’s Kim Jong Un and Duterte Meetings, Climate Change Controversy, May Day Protests, and MLB, NBA and NHL Action Among Top News/Talk Stories Yesterday (5/1). The assessment of the first 100 days of the Trump Administration; President Donald Trump’s historically questionable statements about Andrew Jackson and the cause of the Civil War; the status of a new GOP-authored health care bill; analysis of the Trump Administration’s federal budget proposal; the deadly stabbings at the University of Texas; President Trump’s statements about desiring meetings with Philippines leader Rodrigo Duterte and North Korean dictator Kim Jong Un; the reinvigorated debate over climate change and the flak The New York Times is taking for an op-ed by Bret Stephens on the matter; violent May Day protests across the world; and MLB, NBA and NHL action 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. There appears to have been reductions in forces across numerous iHeartMedia clusters yesterday (5/1), including the company’s parting of ways with Cincinnati programmer Bo Matthews, who was responsible for rock WEBN and CHR WFKS “Kiss 107.”…..Multi-media urban superstar Steve Harvey and iHeartMedia agree to an “exclusive, long-term” contract extension to keep him at the helm of the Premiere Networks-syndicated “Steve Harvey Morning Show.” Additionally, Harvey will work with iHeartMedia on a variety of projects, including development and creation of new programming and promotions, community and charitable initiatives, as well as multimedia projects and events. He will also continue to serve as a spokesperson for the company. iHeartMedia chairman and CEO Bob Pittman states, “Steve is a tremendous talent and has an incredible connection with audiences across multiple platforms, which make him a great asset for iHeartMedia. We are excited to extend our partnership with Steve, continuing to deliver the most engaging content and top personalities to our listeners nationwide.”…..Hearst’s rock WIYY, Baltimore “98 Rock” announces that Marianne Sierk is joining Kirk McEwen for the afternoon drive show. “Kirk and Marianne” are now heard weekdays from 3:00 pm to 7:00 pm pm. Sierk has headlined comedy clubs across the country and has done numerous television shows, including VH1’s “I Love the 80s,” Tru TV’s “World’s Dumbest,” and “The World Stands Up” for the BBC. WIYY PD Rick Strauss says, “Kirk was already flying high in afternoons, but when Marianne was a guest on his show a few months ago, it was so much fun that we had to make it permanent.”…..Alpha Media’s triple A KINK, Portland announces the station’s new show lineup that’s designed to “reflect and enhance KINK’s more progressive music stance.” Corey and Mitch are in AM drive, Jared Aman hold down middays, program director Sean Demery hosts afternoons, Jeff Allen is night jock and Shauna Steele is the overnight personality…..SiriusXM launches a new channel dedicate to the work of The Beatles. On May 18, the satcaster will debut the channel “created by SiriusXM to present unique and exclusive programming in collaboration with and fully authorized by The Beatles’ Apple Corps Ltd. The Beatles Channel will also be available online and through the SiriusXM app.
PPM Analysis: Adult Contemporary. Managing editor Mike Kinosian presents a review of the performances of adult contemporary-formatted stations based on data from the March 2017 Nielsen Audio PPM survey. iHeartMedia’s “Sunny 106.5” in Las Vegas led the pack in improvement (6+ Mon-Sun) in which “roughly half the stations (51%) on our adult contemporary sample falter between February 2017 – March 2017 (6+); 44% improve; and the remaining 5% of the panel is steady (6+).” Comparing last March to March of this year, with Milwaukee Radio Alliance’s WLDB “B93.3” leading the gainers, “50% of this adult contemporary panel regresses year-to-year and 46% improve; 4% of the panel is unchanged from March 2016.” Meanwhile, eight adult contemporary stations ranked #1 in their respective markets in March. See all the data here.
Salem Third Quarter Net Broadcast Revenue Up 3.2%. Chief executive officer Edward Atsinger said on the Q3 conference call that Salem Media Group’s total revenue was up 5.6% but expenses were up 7.3%, “resulting in a 1.5% decrease in adjusted EBITDA.” Atsinger said the expenses increase was almost entirely the result of increased health care costs. Back to the numbers, in the Broadcast segment, net broadcast revenue was $51.1 million, an increase of 3,2% over the same period a year ago. However, station operating income decreased by 2.1%. Atsinger reported that although they booked $1 million of broadcast political revenue during the quarter, that was down about 20% from the same period during the 2012 campaign. However, Atsinger adds, “Network revenue was up 29.2% for the quarter. Obviously, this extraordinary political year is a major driver in this revenue growth, and our nationally syndicated hosts have significantly increased their profile beyond the exposure of their own radio programs, which has resulted in an increased time spent listening to their shows and better response for advertisers, all of which has led to higher renewals, higher rates of renewals, and additional advertising clients.”
Townsquare Media Net Revenue Flat in Q3. On a pro forma basis, Townsquare Media’s Local Marketing Solutions segment – the one that includes broadcast and digital – saw net revenue increase 3.8% over the same period a year ago. It was the Entertainment segment – live events – that had a tough quarter and drew the company down to a net revenue decrease of 0.8%. Townsquare Media chairman and CEO Steven Price says, “On a pro forma basis, our Local Marketing Solutions segment continued its positive momentum by delivering another quarter of solid growth, with net revenue increasing approximately 4% over the prior year period. These results were offset by a decline in our Entertainment segment due primarily to exceptionally poor weather at four of our largest fairs. Excluding those fairs, Townsquare’s pro forma net revenue and Adjusted EBITDA increased approximately 2% and 3%, respectively.” For the first nine months of the year, Townsquare’s (pro forma) net revenue is up 2.2% and the Local Marketing Solutions segment is up 5.1%.
Saga Communications Q3 Net Revenue Rises 6.8%. Reporting financial data for the third quarter of 2016, Saga Communications’ net revenue was $36.1 million – an increase of 6.8% over the same period a year ago. Breaking the radio segment out from the television segment, radio’s net revenue was $29.8 million – an increase of 4.6% over 2015’s third quarter. For the year so far, Saga’s net revenue is $105.3 million – up 8.3% over the first nine months of 2015.
WABC, New York Officially Names Sid Rosenberg Imus Sports Anchor. A press release from Cumulus Media’s WABC, New York officially announces that Sid Rosenberg is returning to the “Imus in the Morning” show to serve as sports anchor, however the presser makes no mention of Warner Wolf, who exited the show suddenly on Friday (11/4). WABC program director Craig Schwalb comments, “Sid’s triumphant return to ‘Imus In The Morning’ has reunited him with an incredibly gifted cast. Their collective chemistry is exceptional.” Rosenberg adds, “I’m really excited to be back with Imus and the guys in the same role where it all started for me nearly 17 years ago.” Rosenberg will continue to co-host the late morning show with now-fellow Imus cast member Bernard McGuirk.
NAB to Sue FCC Over Quadrennial Review. This suit must be filed by Monday and that is presumably what the National Association of Broadcasters will do as EVP of media relations Dennis Wharton says it’s difficult to believe the Federal Communications Commission could recommend (on a 3-2 party line vote) going forward with decades-old policy when technology is moving the industry ahead at the speed of light. The cross-ownership rules seem particularly out of date considering what’s been going on in other sectors of the media, says Wharton, who tells Broadcasting and Cable, “Broadcasters want to compete in the digital age and continue being a trusted source for local news and information, but FCC rules need to reflect 2016 and not the 1960s. It defies belief that the FCC allows AT&T/DirecTV and Charter/Time Warner mergers while barring two Topeka TV stations from combining, or a radio station from buying a newspaper.”
Today’s Presidential Election; the U.S. House and Senate Races; Voter Fraud and Poll Hacking Concerns; UVA Administrator Awarded $3 Million in Rolling Stone Rape Story Case; Hillary Clinton’s Emails Troubles; and NFL Action Among Top News/Talk Stories Yesterday (11/7). The presidential race between Donald Trump and Hillary Clinton; the down-ticket races for U.S. House and Senate seats; concerns over voter fraud and the possibility of hacking the electronic polls; a jury awards a University of Virginia administrator $3 million in her case against Rolling Stone and the author of a discredited story about a gang rape at the school; the private email server case surrounding Hillary Clinton’s campaign; and the weekend’s NFL Action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Ginny Morris to Chair RAB Board of Directors. The Radio Advertising Bureau announces the new slate of officers recently to its board of directors and new, incoming directors. Chairperson and CEO of Hubbard Radio Ginny Morris is elected chair of the RAB board of directors. Cox Media Group RVP Susan Larkin is the vice chair. The finance chair is Steve Newberry, president and CEO of Commonwealth Broadcasting. The secretary is Mike Hulvey, COO, Neuhoff Communications, and immediate past chair is Hartley Adkins, president, Northeast Division & Corporate Operations, iHeartMedia. Newly elected directors are: Brian Beasley, EVP, chief operating officer, Beasley Media Group; Jonathan Brewster, CEO/president, Cherry Creek Radio LLC; Mike Tarter, president/CEO, Forcht Broadcasting; and Sabina Widmann, VP, general manager/director of sales, radio, Univision Radio. RAB president and CEO Erica Farber says, “We are excited to have Ginny Morris at the helm of the RAB board of directors. With Ginny’s tremendous experience and passion for this industry, the organization is well-positioned to continue to lead and advocate for radio.”
Beasley Reports 2014 Q4 Pro Forma Net Revenue Dips 4.3%. Getting an accurate picture of the fourth quarter – not to mention the total of 2014 – is a bit dicey because of the asset exchange between Beasley and CBS RADIO. But as Beasley chairman and CEO George Beasley says in the press release, “On a reported basis, fourth quarter net revenue from continuing operations rose 23.5% and SOI [station operating income] increased 14.6%, while operating income of $1.8 million was impacted by $1.7 million of transaction and termination expenses related to the Asset Exchange and otherwise would have compared favorably with the $2.8 million in the comparable year ago period. However, given the required accounting treatment for discontinued operations, the results include only one month of operations from the stations we received in the asset exchange, while excluding the results of the stations we gave up in the transaction. As a result, we believe a pro forma presentation, which assumes the asset exchange occurred on January 1, 2013, better reflects the operating results. On a pro forma basis, fourth quarter net revenue decreased 4.3% to $28.9 million while SOI declined 8.0% to $9.2 million. Importantly, while the fourth quarter pro forma presentation allows for a comparison of the same stations during both periods, it does not reflect our recently initiated and planned format and personnel changes in Tampa as well as expense reductions in Tampa and Charlotte, the benefits of which we expect will be reflected in our results as we move through 2015 and into 2016.”
20 Years of KKFN Sports Talk in Denver Being Recognized. This Monday (3/9), Lincoln Financial Media will celebrate 20 years of sports talk in Denver on KKFN. The format is now heard on KKFN-FM “104.3 The Fan,” but debuted in 1994 on KKFN-AM. The special broadcast will feature several former personalities and athletes who have been part of the two-decade history. The station’s original lineup included: the Fabulous Sports Babe (Nanci Donnellan), Woody Paige & Todd Mansfield, Doug Moe & Tom Green and Jeff Reckard. On Monday the station will welcome back former Fan personalities Woody Paige, Tom Green, Dan Issel, Charles Johnson, Irv Brown and Joe Williams. They will be joined by Rockies radio announcer Jerry Schemmel. The station’s current lineup is: “The Fan Morning Show with Mike Evans, Nate Lundy and Vic Lombardi” (5:30 am to 9:00 am), Dan Patrick (9:00 am to 12:00 noon), Sandy Clough and Scott Hastings (12:00 noon to 3:00 pm), “The Drive” with Alfred “Big Al” Williams and Darren “D-Mac” McKee (3:00 pm to 9:00 pm) and “The Fan Late Night” with Ryan Edwards and Shawn Drotar (9:00 pm to 12:00 midnight). “The Fan” will also hold an anniversary party on Thursday, March 26, at the Sports Column in downtown Denver. Listeners will get the chance to celebrate with members of “The Fan” on-air staff and celebrities.
iHeartMedia Names Charlie Wilkinson Dallas Market President. Moving to Texas from his most recent position with the company as regional president overseeing Charlotte and Raleigh, Charlie Wilkinson becomes market president of iHeartMedia’s six Dallas properties. EVP of operations – Texas majors Kelly Kibler comments, “Charlie has exceeded expectations and consistently raises the bar. He has proven his ability to create and lead winning teams. I’m confident he will continue to deliver consistent integrated revenue growth for the Dallas cluster.” Former market president, Deidre Richter, will join iHeartMedia’s national sales team and will report to Jeff Howard, president of national sales. Richter will lead the South Central Connections Team.
Odds & Sods. At the Cromwell Group’s Nashville sports talk duo “94.9 The Game 2” — WQZQ-AM and W235BW – morning drive co-host Joe Dubin leaves the station and partner Greg Pogue to return to television sports as sports anchor on WSMV-TV, Nashville, effective March 30…..This weekend begins Westwood One Sports’ presentation of a slate of exclusive women’s college basketball broadcasts this month. It gets underway Sunday with the Pac-12 Women’s Championship game and culminating with the Women’s Final Four and National Championship in Tampa on April 7. On Tuesday, March 10, WW1 broadcasts the Big East Women’s Championship, live from Allstate Arena in Chicago. CBS Sports Radio talk-show host Amy Lawrence has the play-by-play, along with former University of Connecticut All-American Swin Cash as the analyst…..Salem Media Group New York brings Chief of Robotic Surgery at Lenox Hill Hospital, Dr. David Samadi, to the staff serving as chief medical correspondent for news/talk WNYM “AM 970 The Answer” and Christian talk WMCA “AM 570 The Mission.” Additionally, Dr. Samadi will host the new program “World Health News with Dr. Samadi,” airing Sundays from 10:00 am to 11:00 am.
Curtis & Kuby Roast Takes Place Monday in NYC. Gotham Comedy Club will be the site of the Curtis & Kuby Roast on Monday, March 9 at 7:00 pm. The duo – heard daily in middays on Cumulus Media’s WABC – will be in attendance as Roast Master Rich Vos (featured on Comedy Central, HBO, and Showtime) hosts a night of no-holds-barred comedy in honor of talk radio odd couple Curtis Sliwa and Ron Kuby. Comedians Kurt Metzger, Bonnie McFarlane, Geno Bisconte, Aaron Berg, and The Stone Brothers will all come out to roast the duo. Limited tickets are still available at www.wabcradio.com. The event is produced by Jeffrey Gurian in conjunction with Gotham Comedy Club and 77 WABC.
TALKERS Weekly Affiliate Roundup. The sports programming from Yahoo! Sports Radio is now being heard on Word Broadcasting’s WVHI, Evansville, Indiana…..The Genesis Communications Network-syndicated “Freedom Feens” show is now being heard on affiliate stations WRMN, Elgin, Illinois (Chicago market) and on WPNN, Pensacola, Florida.
Netanyahu Speech/Iran Nukes Top Talkers TenTM for Week of March 2-6. The speech before Congress by Israeli Prime Minister Benjamin Netanyahu and the issue of a pact to allow Iran’s nuclear program to expand were tied for the most-talked-about story on news/talk radio this week. At #2 was the Supreme Court’s hearing a challenge to the Affordable Care Act. Coming in at #3 was the probe of Hillary Clinton’s use of private email for State Department business, followed by the Homeland Security Department funding battle and President Obama’s amnesty order at #4. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio this 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.