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Tuesday, November 3, 2020

| November 3, 2020

Beasley Media Group Third Quarter Report: Net Revenue Down 25%. The first radio company to report 2020 third quarter financial results is Beasley Media Group which reveals net revenue for the period was $49.6 million, down almost 25% from the $66.1 million reported in the third quarter of 2019. Obviously, the dramatic decrease is the result of a loss of advertising revenue due to the coronavirus pandemic. The company reports operating income of $0.8 million, down from $9.4 million in Q3 of 2019. Beasley reports a net loss of $2.7 million for the quarter compared to the net income of $3 million realized in the third quarter of 2019. Station operating income was $8.1 million, a little less than half of the $16.7 million in SOI reported in the third quarter of 2019. Beasley CEO Caroline Beasley states, “The strong recovery of our business continued in the third quarter of 2020. It is clear that the immediate actions we took to address the pandemic, including reducing station operating expenses, headcount reductions, furloughs, and negotiated discounts with landlords, service providers and partners have contributed to Beasley’s ability to rebound quickly. This focus, combined with the resumption of advertising in key categories, the experience of our teams who have managed through previous economic challenges, the quality of our content, and the role we play in the communities we serve, have all contributed to our ability to turn the corner as evidenced by the positive SOI recorded in the 2020 third quarter. Throughout the third quarter our sales teams drove monthly sequential revenue improvements with July up 8% over June, August up 24% over July and September rising 22% over August. Total net revenue for October increased in the low- to mid-single digits, and November revenue is currently pacing down in the low teens. In addition to the resumption of advertising in key categories and the benefit of the political cycle, Beasley generated continued positive results from its digital and esports investments, which have been less impacted by the pandemic. Third quarter digital revenue rose 1.8% year-over-year to $5 million and our new esports operations generated approximately $500,000 of revenue during the period. Digital revenue accounted for approximately 10.1% of total third quarter revenue, compared to 7.4% of total revenue in the prior year period. Reflecting our initiatives to address the pandemic, including reducing operating expenses and corporate overhead and realigning our company-wide cost structure, Beasley’s third quarter total operating expenses declined by 15.9% and the company expects to reduce its operating expenses through year-end by more than $32 million compared to our 2020 operating budget. We anticipate that a meaningful portion of the operating expense reductions realized since the onset of the pandemic will be recurring, as we continue to make fundamental changes to improve processes and efficiencies across the organization. While the last several months have presented unprecedented challenges for ad-reliant businesses, I am extremely proud of the way our corporate and station level leaders and valued team members rose to the occasion and worked tirelessly to enable Beasley to return to positive cash flow in the third quarter. Looking ahead to the fourth quarter and 2021, we intend to continue our focus on growing our cash flow and maintaining a strong balance sheet with liquidity at current or higher levels. Growing ratings, diversifying revenue and delivering exceptional content and services to our listeners, advertisers, online users and esports fans will remain our focus. And we believe the tremendous resilience of our team and steps we’ve taken to strengthen our financial position and achieve ongoing operational efficiencies have helped ensure that Beasley Broadcast Group remains well-positioned for near- and long-term success.”

iHeartMedia Purging Employees; WTVN’s Riley and Schmid Exit. The latest round of “headcount reduction” is taking place at iHeartMedia, with air personalities, producers and more being let go as the company deals with the economic effects of the coronavirus pandemic. Because of the ratio of music-formatted stations to talk stations, the majority of those being laid off are from music outlets. Some of those working in talk formats who’ve been let go include WTVN, Columbus morning host Joel Riley and morning program producer Tom Schmid. Riley told Columbus Business First, “I worked there for over 26 years. It was my dream job, that morning show. I’m devastated. I will miss the listeners. They made that job special every day.”

PPM Analysis: All-News. TALKERS magazine managing editor Mike Kinosian presents a look at the performances of radio stations based on data from Nielsen Audio’s October 2020 PPM survey, today focusing on the all-news format. About half of the all-news stations in PPM markets were up (6+ weekly AQH share) and half were down or flat. Gainers were led by iHeartMedia’s WBZ-AM, Boston (+1.1) and Hubbard Radio’s WTOP-FM, Washington (+0.8). Year-over-year numbers tell a different story as 63% of all-news outlets improve. Top gainers from October 2019 to October 2020 include WTOP (+2.9), Entercom’s WBBM-AM/WCFS-FM, Chicago (+2.0), WBZ-AM (+2.0), and Sinclair Broadcast Group’s KOMO-AM/FM, Seattle (+1.9). See Mike Kinosian’s complete report here.

New Firm Major Triad Media Acquires TM Studios from Westwood One. Jingle and production house TM Studios is being acquired from Westwood One by Major Triad Media, a partnership of three TM Studios figures – creative director Dave Bethell, Chris “UK” Stevens, and jingle icon and current general manager Greg Clancy. A press release says the new company will maintain studios in Dallas, Los Angeles, and the UK. Bethell says, “From listening to TM jingles on my local radio station in England when I was a kid to becoming a fan, I’ve always wanted to work for TM. Eventually it was the place where I had my big jingle break back in 2005. I’ve written and produced for TM Studios continuously ever since. As co-owner I’m excited to tell the next chapter of TM’s incredible story with our perfect new partnership.” Stevens comments, “I’m so excited to be part of the team to take TM’s legendary name into a new chapter, and from my home country, no less. It’s been 15 years since I originally relocated from London to Dallas to work with TM. It is a dream come true to become part of the new ownership team.” Clancy adds, “I vividly remember watching my dad sing in TM vocal sessions as a kid and had my first vocal session at TM as a 12-year old boy. I began singing for Tom Merriman and Jim Kirk at 23, straight out of college. Just imagine what this moment means to me. We are standing on the shoulders of giants and can’t wait to grow and extend the TM legacy.” TM Studios will continue to work with Westwood One, with a multi-year agreement to serve as exclusive barter representative to seamlessly serve existing clients.

‘The Fisher House Story’ Available Now in Time for Veterans Day. Veterans Day is next Wednesday (11/11) and the Fisher House Foundation announces that The Jeff Wyatt Group has a fresh edition of “The Fisher House Story” for 2020 ready for download. “The Fisher House Story – A Family’s Love” is a radio special provided in varying lengths for news/talk radio stations in the U.S. and around the world. The three-hour, one-hour, 25-minute, and 30-minute radio specials are available for free. The specials are once again hosted by Mary Walter of WMAL-FM, Washington and feature stories of our nation’s heroes, the families who serve by their side, and how Fisher House plays a role in their journey. Your listeners will hear from Ben Breckheimer, an Army combat scout whose vehicle hit an improvised explosive device while driving with his team in Afghanistan; Lt. Col. Patrick Miller, an Army officer who was shot in the 2014 Ft. Hood shooting; and Jeff Sampson, a Navy veteran who needed a double lung transplant. These are just a few of the many stories that will be told “in their own words.” A clock and demo is now available at radio.fisherhouse.org. For more information on this radio special, available cash and barter free, contact Jeff Wyatt at The Jeff Wyatt Group at 301-518-3640 or jw@thejeffwyattgroup.com.

TALKERS News Notes. Tonight, the Westwood One nationally syndicated Jim Bohannon show is presenting election coverage from 10:00 pm to 1:00 am ET with the help of correspondents Clayton Neville and Linda Kenyon, plus commentary from Jed Babbin of the American Spectator, political science professor Dr. Frank Sorrentino, former Indiana congressman Dave Evans, and commentator Sean Walsh…..Cumulus Media’s Westwood One announces a partnership with Rolling Stone to market and distribute their podcasts “Useful Idiots with Matt Taibbi and Katie Halper” and “Rolling Stone Music Now.” The agreement includes the back catalogue in addition to future episodes…..Audio and spoken word agency Oxford Road announces the addition of three executive to the company. Kraig Kitchin – former Premiere Networks chief and current Sound Mind LLC principal – joins as strategic adviser. Steven Abraham is introduced as the company’s new president and Jennifer Laine is named head of marketing.

Today’s Presidential Election/Senate and House Races, Law Enforcement Prepares for Unrest, COVID-19 Stats & Projections, Terror Attacks, Hurricane Eta Approaches Central America Among Top News/Talk Stories Yesterday (11/2). Today’s presidential election between Donald Trump and Joe Biden, as well as the numerous Senate and House races; law enforcement’s concerns about and preparation for keeping voting places accessible and handling public safety in the event protests and violence break out; the fast-rising number of COVID-19 cases in the U.S. and in Europe and projections the second wave could be worse than the first; the recent spate of terror attacks in France, Vienna, and Kabul; and Hurricane Eta threatens Central America with record floodwaters 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 the Twin Cities, Bring Me the News reports that air personalities Steve LaTart, a.k.a. Steve-O of CHR KDWB’s morning show and hot AC KTCZ “Cities 97.1” morning host Hunter Quinn both exit as part of the current downsizing taking place at iHeartMedia across the country…..Cumulus Media’s country WKDF, Nashville names Toni-Marie afternoon drive host. Toni-Marie joins Cumulus Nashville from Entercom’s country KWJJ, Portland “99.5 The Wolf” where she was midday host and APD. She says, “I have never been happier inside of a Walmart than the day that [program director] Paul Williams called to offer me this position! I’ve had the opportunity to do country radio in some amazing markets, but getting to work with Paul and the team at 103-3 in Nashville is a dream come true!”…..Alpha Media Portland announces that Gustav will join the KINK-FM lineup as the afternoon drive host. Alpha Media Portland operations manager Gene Sandbloom says, “Gustav has been an icon in Portland radio for 25 years, and we couldn’t be more excited to have him join the KINK team in afternoons. His breadth of musical knowledge and the relationships he has forged with artists throughout his career are most welcome. For more than 50 years the KINK brand has been about serving the needs of Portland and the surrounding communities. Hats off to the Alpha Media management team for making yet another true investment in being live and local.”

Thursday, November 7, 2013

| November 7, 2013

sportshh2013TALKERS Publishes Second Annual “Heavy Hundred” of Sports Talk Radio.  The editors of TALKERS magazine, with input from industry leaders, have compiled the second annual Heavy Hundred of Sports Talk – The 100 Most Important Sports Talk Radio Hosts in America.  The eagerly anticipated list is posted today (11/7).  Like its long-established “sister list” – the long-running (18 years) annual “Heavy Hundred” that ranks talk radio hosts working in the news/talk and general talk genres – the editors of TALKERS magazine have ranked sports talk hosts, duos or ensembles from 1 to 100 based upon a set of criteria that includes a combination of hard and soft factors.  The results are, admittedly, subjective.  Being  true to the realities of the media business, ratings and revenue are two of the major factors – some would say they are the only factors worth considering – but the editors also took into account other qualities that help create a list that is reflective of the industry’s diversity and total flavor and still give credit where credit is due.  Those qualities include:  courage, effort, impact, recognition, service, talent and uniqueness.  The other concrete qualification for inclusion is hosts must be working – that is, have a regularly scheduled professional show on the air at a minimum of one terrestrial or satellite radio station at the time of publication.  TALKERS salutes the fine broadcasters who made this year’s second annual list!  To see the entire roster, please click here.

parksdarrylDarryl Parks Exits Clear Channel.  The longtime WLW, Cincinnati steward and architect of so many of the talk shows that aired on the station has been let go by Clear Channel.  Programmer Darryl Parks was PD of WLW from 1999 to 2010 when he was promoted to vice president of news/talk operations for the entire company.  He remained based at the Cincinnati cluster and hosted a Saturday morning talk show on WLW.  The Cincinnati Enquirer’s John Kiesewetter broke the news on Wednesday afternoon and in his report calls Parks “arguably the most influential person in Cincinnati radio” during his time as PD of WLW.  As per policy, Clear Channel doesn’t comment on personnel matters but has confirmed that Parks is no longer with the company.  The move is likely a restructuring of management within the company but Parks drew attention to himself last month with a blog post criticizing acting FCC chairwoman Mignon Clyburn’s AM revitalization program and referred to the NAB/RAB Radio Show as a “circle jerk.”

cbsradioCBS Corporation Reveals Q3 Numbers: Radio Up 1%.  For the company as a whole, revenue was up 11% but the radio division’s net revenue rose just 1%.  With so much of CBS’ revenue from television and cable, the company doesn’t spend much time talking about radio.  EVP of investor relations Adam Townsend did single out the fledgling CBS Sports Radio Network, saying, “CBS Sports Radio network continues to help drive our results.  Plus, digital revenue was up 19% in the quarter.  And nontraditional revenue, including our growing local events business, was up 9%.”  The company says it expects the radio division to be up in the low single digits in the fourth quarter.

cclogoClear Channel Radio Revenue Up 3%.  CC Media Holdings issued its third quarter 2013 financial results and the Clear Channel Media and Entertainment division’s revenue increased by 3% or $25 million.  Chairman and CEO Bob Pittman states, “Strategically and financially, our third quarter results reflect the growing strength of our Media+Entertainment business, while we continue to make meaningful progress in moving Outdoor forward internationally and in the Americas.  At Media+Entertainment, we outperformed the entire radio sector in revenue growth, including in our major markets. Increasingly, our radio business is benefiting from our strategic approach to advertising that sets us apart in the marketplace.”  Among numerous other points made about the division’s recent achievements, the company notes that there are now “39 million iHeartRadio registered users as of September 30, 2013, up 114% from the end of the 2012 third quarter, and crossing the 30 million registered user mark faster than Facebook, Twitter, Spotify or Pandora, and second only to Instagram.  iHeartRadio’s total listening hours were up 30% in the third quarter of 2013 compared to the same period in 2012.  Mobile represented 60% of iHeartRadio total listening hours during the quarter.”

katztonyTony Katz to Host Evening Show on WIBC-FM, Indianapolis.  Emmis Communications’ WIBC-FM, Indianapolis and talk show host Tony Katz have agreed to terms for Katz to debut his “Tony Katz Tonight” program on the station airing from 9:00 pm to 12:00 midnight beginning Monday, November 11.  Katz will be based out of his Tomorrow Media Network studios in Los Angeles.  Katz most recently hosted a weekend program on Emmis-owned KFTK-FM, St. Louis “FM News Talk 97.1” where he also serves as the regular fill-in for the station’s Dana Loesch.  Katz states, “I’m thrilled to be with Emmis, a company that has fought hard to be strong in this ever-shifting radio landscape.  I’ve had a great relationship with the company, with Dana and especially KFTK program director Jeff Allen, who gave me nothing but support, opportunity and encouragement.  To go from there to the capable and fearless hands of WIBC program director David Wood makes me truly believe that this is the start of a long, profitable relationship.”  Katz is a columnist with TownHall and Christian Post and a frequent commentator on “Fox and Friends” and “The Kudlow Report” on CNBC.  He is also a sought after public speaker.

cunninghambillBill Cunningham’s TV Show Renews on The CW.  WLW, Cincinnati talk show host Bill Cunningham can also claim success in his other media endeavor – the Tribune-produced television talk program “The Bill Cunningham Show.”  Now, Cable & Broadcasting reports that the show has been picked up for another season – its third – by The CW Network which airs the show at 3:00 pm ET.  The TV project was one of those that began back when former Clear Channel radio president Randy Michaels was heading up Tribune.  Former Clear Channel programmer Sean Compton is one of the executives whom Michaels brought to Chicago and has risen to president of programming and entertainment for Tribune Broadcasting.  Compton is quoted in the piece saying, “The growth of ‘The Bill Cunningham Show’ over the past three seasons has exceeded all expectations.  When compared to perceptually bigger shows, Cunningham consistently comes out on top.  His demo conversion steadily yields impressive results and we are extremely proud of this show.”

cookehollandA Peek Inside: NAB Futures 2013.  Radio consultant and TALKERS contributor Holland Cooke was recently invited to attend – and deliver a keynote speech! – at the invitation only NAB Futures 2013 that took place in Laguna Beach, California.  Cooke describes it as “a think tank about how broadcasters can embrace and exploit the ‘disruption’ that has changed how consumers consume media.”  He reports back interesting tidbits from such speakers as: James McQuivey, VP and principal analyst at Forrester Research and the author of Digital Disruption: Unleashing the Next Wave of Innovation; Scott Burnell, global lead, business development & partner management at Ford Motor Company; Jason Dorsey, “The Gen Y Guy” who wrote Y-Size Your Business: How Gen Y Employees Can Save You Money and Grow Your Business.  Get Holland Cooke’s scoop on the NAB Futures 2013 here.

westwoodone logoWestwoodOne Opens Creative and Production Studio for Radio Marketers.  Saying that it wants to help marketers develop “world-class audio,” WestwoodOne announces the opening of a full-service Creative Services division to be “powered” in part by TM Studios.  The company says it will “provide multi-platform marketing solutions including on-air, digital and experiential components, built upon the company’s core service producing engaging audio experiences that connect people with their passions in life.  The studio is currently preparing to work with marketers to produce audio ads for WestwoodOne’s broadcast of Super Bowl XLVIII.”  WestwoodOne CEO Paul Caine states, “Audio plays a vital role in the new media landscape and WestwoodOne is uniquely positioned to help marketers integrate creative, multiplatform audio advertising into the mix.  Marketers need a reliable partner who understands how, where and when today’s mobile consumers are interacting with audio and the ability to develop audio content that can stand out from the competition.  Be it mobile, terrestrial or digital consumption, the team at WestwoodOne Studio has the talent and expertise to create the most compelling and effective advertising to give our marketers the most exposure.”

valentinephilPhil Valentine Kicks Off ‘Spreading the Truth’ Tour.  Nashville-based syndicated talk show host Phil Valentine is launching what he’s calling the “Spreading the Truth” tour to promote the newly released DVD of his film “An Inconsistent Truth.”  Valentine will be in Pensacola, Florida at the Cordova Mall on Sunday, November 10 in conjunction with his Pensacola affiliate station WCOA.  Valentine reports that the movie – which challenges the notion of runaway, man-made global warming and takes its title from a twist on Al Gore’s An Inconvenient Truth – “hit the #1 spot on Amazon.com’s documentary list shortly after its release.  It’s the winner of three film festival awards including the Nevada Film Festival.  The film enjoyed a limited run last year in select theaters and was the top-grossing movie per screen in the entire country its first two weeks out.  It’s the 20th top-grossing nature documentary of all time, out-grossing films like “Cool It, Gasland and Fuel.”  Valentine states, “I think the fact that we hit #1 on Amazon so quickly is a testament to the appetite out there for the truth.  People inherently know carbon dioxide is not some kind of poison.  They instinctively know they’re being lied to.  We just arm them with the facts.”  The Spreading the Truth tour kicks off in Pensacola then moves to Nashville.  Other tour dates are being added.

morelandkeithOdds & Sods.  Chicago Cubs radio color analyst Keith Moreland is stepping down from his role.  WGN, Chicago announces the former Cub has made the decision to leave the broadcast booth to spend more time with his family.  In a note to the WGN staff, Moreland stated, “I would like to thank the fans, the folks at WGN Radio, my colleagues in the booth, the Ricketts family, and the Cubs for this great opportunity.  After spending three years doing it, I’ve simply decided that I want to spend more time at home in Texas.”  Moreland became a permanent fixture with play-by-play broadcaster Pat Hughes in February of 2011…..Entercom’s WEEI-FM, Boston announces the return of its off-season baseball show “Red Sox Hot Stove,” a weekly, one-hour program hosted by WEEI.com editor Rob Bradford and Red Sox reporter Alex Speier that will air every Thursday night from 7:00 pm to 8:00 pm through February.  The program will focus on all off-season moves made by the Red Sox and in Major League Baseball, including free agency and trades, the GM and owners’ meetings and the league’s annual Winter Meetings, taking place this year from December 9-12 at the Walt Disney World Swan and Dolphin Resort in Orlando, FL.  Bradford and Speier will be joined on a recurring basis by Red Sox manager John Farrell, general manager Ben Cherington and assistant general manager Mike Hazen.  In addition, listeners will regularly hear from other managers, general managers, agents and players from around baseball.

zimneymissindy‘There She/He Is, Miss Indiana…’  Okay, so that’s not exactly how the song goes.  Nonetheless, the attractive woman you see here is Mekayla Diehl (right) who was crowned Miss Indiana USA 2014 this past Sunday.  The handsome lad seated and wearing the tiara is Federated Media news and programming guru Jon Zimney of ‘95.3 FM MNC’ (Michiana News Channel) in South Bend, Indiana, and WOWO-AM/FM in Fort Wayne, Indiana.  Miss Diehl visited the broadcasting facility to talk about her being crowned to represent the state of Indiana.

ObamaCare Criticism, Election Day Results, Benghazi Case, GOP 2014 and 2016 Strategies, Iran Nukes, Miami Dolphins ‘Bullying’ Story and Tony Dorsett Health Issues Among Top News/Talk Stories Yesterday (11/6).  The ongoing scrutiny of the rollout of the Affordable Care Act; Tuesday’s election results; renewed criticism of the handling of the deadly Benghazi attacks; Republican prospects and strategies for the mid-term elections in 2014 and the presidential election in 2016; Iran’s nuclear weapons program; controversy over the suspension of Miami Dolphins player Richie Incognito; and former NFL great Tony Dorsett’s admission he suffers from possible effects of football injuries were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.