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Thursday, October 14, 2021

| October 14, 2021

Ramsey Solutions’ Borrowed Future Premieres Today; Teachers Given Free Access to Share with Students. The student load documentary produced by Ramsey Solutions is being released today (10/14) and the company is offering every teacher in the U.S. free access to the film. Borrowed Future: How Student Loans Are Killing the American Dream is produced by Dave Ramsey and is now available on Amazon Prime Video, Apple TV and Google Play. Ramsey Solutions says the film uncovers the dark side of the student loan industry and exposes how it’s built to work against borrowers. Dave Ramsey – CEO of Ramsey Solutions, host of “The Ramsey Show,” and executive producer of the film – comments, “It’s ironic to me that the dumbest decisions we make as a society are related to education, of all things. Student loans are not the only way to get a degree. Young people need to know all their options instead of settling for student loans because it’s ‘normal.’ Normal is broke.” The main subjects of the documentary are college graduates who owe between $9,000 and $1 million in student loans, a debt-free college graduate, and high school students who haven’t yet questioned the norm of student loans – until now. Borrowed Future is directed by David DiCicco and features experts such as Seth Godin, Dave Ramsey, Seth Frotman, Kristina Ellis, Dr. John Delony and Anthony ONeal, as well as the CEO of the mikeroweWORKS Foundation, Mike Rowe. See more about Borrowed Future here.

Audacy Offers $45 Million in New Notes to Fund ‘Small Digital Acquisition.’ A subsidiary of AudacyAudacy Capital Corp – plans to offer, subject to market conditions and other factors, $45 million in aggregate principal amount of the Issuer’s 6.500% senior secured second-lien notes due 2027. Audacy says it is in the process of completing a small digital acquisition for approximately $40 million and expects to fund this acquisition through a draw on the Issuer’s revolving credit facility. This acquisition is expected to close in October 2021, subject to customary closing conditions. Audacy intends to use the net proceeds from this offering (after deducting discounts and commissions and paying offering-related expenses) to repay outstanding amounts under the Issuer’s term loan to offset the impact of the revolver draw. This offering is not conditioned upon the consummation of the acquisition, nor is the acquisition conditioned on the consummation of this offering. The Additional Notes are being offered as additional notes under an existing indenture, dated April 30, 2019, pursuant to which the Issuer previously issued $425 million in aggregate principal amount of its 6.500% senior secured second-lien notes due 2027. The Additional Notes will have identical terms (other than issue date and offering price) as the Existing Notes. The Additional Notes will be fully and unconditionally guaranteed on a senior secured second-lien basis by each direct and indirect subsidiary of the Issuer that guarantees the Issuer’s senior secured credit facility. The Notes and the related guarantees will be secured on a second-priority basis by liens on substantially all of the assets of the Issuer and the guarantors. The Additional Notes will be offered in a private offering exempt from the registration requirements of the U.S. Securities Act of 1933 and will be offered and sold only to persons reasonably believed to be qualified institutional buyers.

NAB’s Marconi Awards to Happen Virtually; Radio Show to Merge with NAB Show Permanently. With the cancellation of the in-person NAB Show this fall, the
National Association of Broadcasters announces the presentation of the 2021 NAB Marconi Radio Awards and the State of the Industry Address by NAB president and CEO Gordon Smith will take place virtually on November 10 at 2:00 pm ET via NAB.org/watch. At the same time, NAB announces that going forward, the annual Radio Show will be integrated into the NAB Show beginning in April 2022 in Las Vegas. NAB says, “This change provides more opportunities in one location for radio professionals and elevates radio in the larger media ecosystem represented at NAB Show.” NAB adds that the integrated event in Las Vegas will feature signature awards, networking events and a comprehensive conference program, including popular sales and marketing sessions presented by the Radio Advertising Bureau. RAB president and CEO Erica Farber comments, “It’s important that we continue to bring radio professionals together to network, celebrate audio and engage in meaningful discussions around the future of our industry.” Salem Media Group president of broadcast media and NAB joint board chair David Santrella states, “In today’s world where radio companies are essentially multimedia companies, the value in attending NAB Show cannot be overstated. We are now streaming and podcasting and even producing video. NAB Show provides unparalleled access to the critical tools, knowledge and connections we need to grow and thrive in today’s media business.”

Nielsen: AM/FM Radio Listening Near its Highest Point in a Year. Results from Nielsen’s ongoing Audio Consumer Sentiment survey that addresses current American feelings about the COVID pandemic and how it impacts their lives have been released and they indicate that nearly nine in 10 (86%) say they are spending the same amount or more since the Delta variant emerged. Despite the Delta variant and increasing COVID cases in the summer, more than eight in 10 (82%) don’t think their own financial situation will change in the coming months. Also, radio’s average quarter-hour (AQH) audience trend is up 4% year over year, with 7.5 million people age 12+ listening during an average quarter-hour in PPM Markets in September 2021. Radio’s reach trend is stable. Radio reached 121.5 million consumers in PPM markets during an average week in September 2021. In Continuous Diary Measurement markets, Radio’s reach and AQH audience have been remarkably stable during the past year. The study finds that seven in 10 working Americans now work outside the home – an 80% jump since April 2020. The gain in those who work outside the home is a key statistic for audio since consumers spend more time with radio when they travel in vehicles to get to work or shop. There were also big gains in the area of transportation. Overall, nearly a third (31%) are spending more than an hour in their vehicles yesterday compared with 14% in April of last year. That’s a two-fold increase, and heavy radio listeners are far more likely to spend more time in their vehicles. In September, 55% of heavy radio listeners spent more than an hour in their vehicle yesterday.

Warren Eckstein’s ‘The Pet Show’ to Celebrate 40 Years on Air. In November, Warren Eckstein will celebrate the 40th anniversary of his radio program “The Pet Show with Warren Eckstein.” His program is syndicated nationally via Radio America. In addition to his work as a pet behaviorist and TV-radio personality, Eskstein founded the Hugs & Kisses Animal Fund – a  not-for-profit organization in memory of his late wife, Fay. Its mission is to fund hundreds of small animal organizations across the U.S. The Hugs & Kisses Animal Fund aims to be the outsourced fundraising arm for small animal rescues when other financial resources are unavailable. Speaking about his show, Eskstein says, “Unlike most talk radio shows, my focus is on the listeners and callers. I rarely do interviews, because for 40 years, pet guardians are calling with questions they need answers to. My show has listeners with four generations of pets. We’ve laughed together and cried together. There is a level of trust the show has built with my audience – they know I will never endorse a product unless I personally use it for my pets. My reputation is on the line with every show.”

CBS News Honored with Four Honors from New York Festivals 2021 Radio Awards. The winners of the New York Festivals 2021 Radio Awards have been announced and CBS News earned four honors in this year’s competition. “The Debrief with Major Garrett” took home the Gold Award in the News Podcast category; “Mobituaries with Mo Rocca” earned a Silver Award in the Narrative/Documentary Podcast category; “My Life of Crime” from “48 Hours” correspondent Erin Moriarty was a finalist in the Narrative/Documentary Podcast category; and “Century of Sound” was a finalist in the Best Nonfiction Series category.

TALKERS News Notes. Imaging firm Benztown promotes Thomas Green to director of custom imaging and appoints Royce Stevenson to the custom imaging manager role that Green held prior to his promotion. With Benztown since 2019, Brooklyn, New York-based Green is the audio producer for National Geographic’s FYC Podcast “The Making Of.” Stevenson joins Benztown from Audacy’s KDGS-FM, Wichita “Power 93.5” where he was most recently assistant brand manager and music director…..KMG Utopia Studios, TalkShoe, and Mark Krantz Productions announce that award-winning actor Joe Pantoliano and his daughter Daniella Pantoliano are kicking off season two of their popular podcast, “No Kidding? Me Too!” at Advertising Week NY 2021 with a live Q&A on Monday, October 18 at 4:30 pm ET and a virtual session on Tuesday, October 19 at 2:00 pm ET. The two will conduct an intimate interview with Kelly Carlin – author, performer, and life coach – the only child of comic legend George Carlin. She’ll share her family’s struggle with mental health, addiction, and healing. Joe Pantoliano says, “We are thrilled to bring this important conversation to Advertising Week. It is important for us to collaborate with brands and advertisers on the increasing intensity of brain Dis-Ease, the co-occurring nature of addiction, and how to discover a recovery process. This is a perfect opportunity to raise the volume on recovery.”…..Stitcher announces its acquisition of “The Bellas Podcast” hosted by sisters, WWE Hall of Fame Inductees, TV personalities, and best-selling authors Brie and Nikki Bella. Before going on hiatus in spring 2021, “The Bellas Podcast” was part of the Endeavor Audio network. As it relaunches, hosts Brie and Nikki will produce the show with support from Stitcher.

Former Baltimore Talk Host Alan Christian Dies at 81. The Baltimore Sun has the obituary for Alvin Eugene Christian Jr., a.k.a. Alan Christian, who hosted talk radio programs on Baltimore radio stations during the 1970s and 1980s.  Christian died on October 5 at age 81 after suffering from heart complications. During his career, Christian hosted talk shows on WBAL-AM, WERQ-AM, and WFBR-AM. His radio career launched in 1967 when he joined Metromedia Radio News to cover the Pentagon and the 1968 presidential campaign before being promoted to Washington bureau chief. He joined WCBM-AM in 1971 and moved to WBAL in 1974 to host “The Alan Christian Show.” At the end of his radio career, he hosted a weekly show on WERQ from 1992 to 1993 before retiring.

Supply Chain Crisis, Oil Prices/Inflation, SS COLA, COVID-19, Debt Ceiling/Biden Spending Bills, January 6 Investigation, China’s Taiwan Aggression, and Jon Gruden Case Among Top News/Talk Stories Yesterday (10/13). The broken global supply chain’s effect on the U.S. economy; near-record high oil prices and the inflation affecting retail prices; Social Security announces cost-of-living increases for monthly recipients; the rate of COVID-19 cases in the U.S. and the controversy over mask & vaccine mandates; the battle in Congress to raise the debt ceiling and the negotiations over President Joe Biden’s $1 trillion infrastructure bill and the $3.5 trillion reconciliation bill; the investigation into the January 6 Capitol attack; China’s continuing military aggression against Taiwan; and NFL coach Jon Gruden resigns from the Raiders due to racist emails were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Tuesday, April 23, 2019

| April 23, 2019

Entercom Files with SEC to Announce $300 Million Refinance. In the filing with the Securities Exchange Commission, Entercom announces that subsidiary Entercom Media Corp. – the former CBS RADIO stations – is offering $300 million in aggregate principal amount of senior secured second-lien notes due 2027.  The company says it will use the net proceeds from the offering, cash on hand, and availability under its revolving credit facility to partially repay existing indebtedness under its senior secured term loan facility.  Also contained in the filing is preliminary operating results for the first quarter of 2019.  It reports net income should be between $1.3 million and $5.3 million, and adjusted EBITDA to be between $41.7 million and $43.7 million.  Entercom also says pacings for the second quarter of 2019 are up by more than 4% as of April 18, 2019 compared to the same period in the second quarter of 2018. During the first quarter of 2018, the company completed asset sales that generated $24.5 million in net cash proceeds. It used the proceeds, along with existing cash on hand, to repay $180 million in borrowings under its revolving credit facility.

New Myrtle Beach News/Talk Station to Launch on May 6. The station that is currently
adult contemporary WYEZ “94.5 The Tide” is flipping to news/talk with new calls WTKN as “Talk 94.5′ on May 6. The Byrne Acquisition Group station is bringing market radio personality Liz Callaway – formerly with Dick Broadcasting’s crosstown news/talk WRNN-FM – to host the morning show.  The rest of the lineup will include Premiere NetworksGlenn Beck; Salem Radio Network’s Dennis Prager, Sebastian Gorka, and Larry Elder; and Westwood One’s Ben Shapiro and the overnight “Red Eye Radio” show.

KKFN, Denver Names Nick Ferguson Host of Late Morning Show. On-air changes are taking place at Bonneville’s sports talk KKFN, Denver “Sports Radio 104.3 The Fan.” The late morning “Pritchard and Cecil” show is giving way to a new show hosted by former Denver Broncos safety Nick Ferguson.  “The Safety Blitz with Nick Ferguson” will feature current on-air staffer John Davis as co-host.  Meanwhile, Cecil Lammey will remain with the station as digital talent in which he’ll focus on creating content for 1043TheFan.com and the station’s social media platforms.  Mike Pritchard will continue as a fill-in host, allowing him to focus on his own small business.  KKFN program director Raj Sharan says, “Nick is an absolute ball of energy that Broncos Country is going to fall in love with.  In his playing days with the Broncos, he would interact with fans and teammates while stretching at training camp.  He called it ‘The Nick Ferguson Show,’ and it was often the most entertaining time of practice.  Nick’s time as a recent NFL coach and former Broncos player combined with his incredible charisma makes him an extremely unique and valuable addition to our team.”

Premiere Networks Promotes Rush Limbaugh Show’s George Prayias. Digital pro George Prayias is promoted to vice president of digital for “The Rush Limbaugh Show.”  Prayias is based in New York where he reports to Premiere Networks president Julie Talbott.  She comments, “This is a well-deserved promotion.  George has been a valuable member of ‘The Rush Limbaugh Show’ team for nearly 20 years.  His vision and leadership have been instrumental to the continued growth and success of Rush’s digital business and helping maintain the award-wining program’s industry-leading status.”  The company says Prayias started his career with Premiere in 2000 when he conceived and launched the original website for the program.  Prior to joining Premiere, Prayias spent close to a decade in television and was one of the original producers at FOX News Channel.  He first met Limbaugh as a member of the production staff on the syndicated “Rush Limbaugh, The Television Show.”

Christopher “Mad Dog” Russo Inks Extension with SiriusXM. Sports media personality Christopher “Mad Dog” Russo signs a new, four-year deal with SiriusXM to continue leading his Mad Dog Sports Radio channel on the satellite radio service.  He hosts “Mad Dog Unleashed” each weekday from 3:00 pm to 6:00 pm ET.  Russo’s show is also available to Pandora subscribers as a podcast.  Russo says, “Oh baby! Four more years, and I couldn’t be happier!  I’ve said it before and I’ll say it again.  There’s no place, NO PLACE, better than SiriusXM to do the kind of show I want to do, with the freedom to talk about the topics that I want to cover and the listeners want to talk about.  Now we’ll be reaching more fans than ever on SiriusXM and Pandora.”

Entercom Promotes Stacey Schulze to GSM for Greenville Station Group. Sales pro Stacey Schulze is being promoted to general sales manager for Entercom’s Greenville, South Carolina cluster that includes news/talk WYRD-FM “106.3 WORD,” sports talk WORD-AM “ESPN Upstate” and five music radio stations.  She was most recently digital sales manager for the cluster. Entercom Greenville SVP and market manager Steve Sinicropi says, “Stacey has done a tremendous job with our digital products and is an invaluable resource to our team and customers to navigate the sophisticated and fast-changing digital space effectively.  In her expanded role, she’ll also work with our team and customers with RADIO.COM, our seven radio brands, play-by-play sports and all digital products.”

TALKERS News Notes. Longtime New York City traffic reporter Jeff McKay announces he’s taking a new position with Westwood One News and will be relocating to Washington, DC. McKay posts on Facebook that he’ll be leaving his WINS, New York-based traffic reporting gig for DC next month.…..FOX Sports Radio says a new baseball podcast titled “”Inside the (Rob) Parker” – hosted by Rob Parker – will debut on The Herd Podcast Network.  Parker says, “Baseball is my first love, my true sports passion. If you think I have hot takes on the NFL and the NBA, wait until you hear them about the national pastime. For sure, it will be fun and informative.”  Parker continues co-hosting FOX Sports Radio’s 7:00 pm to 10:00 pm ET “The Odd Couple with Chris Broussard” that airs on close to 340 affiliate stations…..SiriusXM is providing subscribers with comprehensive coverage of the 2019 NFL Draft from Nashville, beginning with the first round on Thursday through the final round on Saturday.  SiriusXM NFL Radio’s on-site broadcast team at the NFL Draft will feature: Gil Brandt, Pro Football Hall of Fame inductee and former longtime player personnel executive for the Dallas Cowboys; Pat Kirwan, former NFL scout, coach and front-office executive; Jim Miller, former veteran NFL quarterback; Rick Neuheisel, former NFL quarterback and veteran coach; and Jason Horowitz, lead host for SiriusXM’s draft coverage.

Mueller Report Released/Impeachment Chatter, Trump Tax Returns Issue, 2020 Presidential Politics, Southern Border Crisis/New Mexico Militia, Iranian Oil Sanctions, Sri Lanka Bombings, NBA Playoffs, and MLB Action Among Top News/Talk Stories Yesterday (4/23). The release of the redacted Mueller Report and talk amongst Democrats of impeaching President Trump; the congressional requests for Trump’s tax returns and his suit to avoid being forced to comply; the 2020 presidential candidates and their policy proposals; the migrant status at the U.S.-Mexico border and New Mexico militia detaining migrants; the U.S. imposes sanctions on nations buying Iranian oil; the aftermath of the Sri Lanka bombings; the NBA playoffs; and Major League Baseball 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. In Philadelphia, iHeartMedia announces that Khary Sharpe is named general sales manager for hip hop WUSL-FM “Power 99” and urban contemporary WDAS-FM.  iHeartMedia Philadelphia SVP of sales Jeff Moore says, “I am thrilled to add Khary to our growing team.  Khary is someone that I’ve admired in the market for a long time and his extensive knowledge of the industry and ability to create and grow relationships with our advertisers on the client level as well as internally will contribute to the work we’re doing in creating a great culture here at iHeartMedia Philly.”  Sharpe joined iHeartMedia from Entercom where he most recently served as the digital sales specialist for WOGL, WBEB and WTDY…..Lincoln, Nebraska morning personality Matt McKay, a.k.a. Matthew Rydberg, is on leave from Alpha Media’s CHR KFRX-FM after being charged with domestic violence as the result of an incident that took place on Saturday (4/20).  The Lincoln Journal Star is reporting that Rydberg is being charged with felony strangulation.  According to the Journal Star, “police went to Rydberg’s home on a report of a domestic assault witnessed by two children.  A 46-year-old woman reported she went to sleep in her children’s room after an argument with her husband, who had been drinking, when he became angry… the woman told police Rydberg pushed on her neck and she couldn’t breathe, pushed her face, bit her nose and shoved her.”  Alpha Media Lincoln market manager Julie Gade confirmed Rydberg is on leave from the radio station…..Westwood One says recent ACM-award winner and platinum-selling singer/songwriter – Warner Music Nashville’s Chris Janson – will host Westwood One’s Annual “Summer Kick-Off” special.  The four-hour broadcast is available for radio stations nationwide to air over Memorial Day weekend.  Janson will spin popular summertime hits from Luke BryanFlorida Georgia Line, Kenny Chesney, Keith Urban, Jason AldeanCarrie Underwood, and some of his own hits, including his new single, “Good Vibes.”