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CBS Corp. Announces $1.46 Billion Debt Financing. This has been revealed in the radio trades and in financial news sources but now CBS makes it official with a press statement. The company says that “in connection with its previously announced intention to separate its radio business, CBS Radio Inc. plans to offer $460 million of senior unsecured notes and to enter into a $1 billion senior secured term loan, in each case, subject to market and other conditions. CBS expects that substantially all of the net proceeds from both the notes offering and the term loan will be distributed to CBS. The remaining net proceeds not used for such distribution will be used by CBS Radio for general corporate purposes and ongoing cash needs.” This is not a sale to the public. As CBS reminds us, “The notes will be offered and sold in a private placement to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933…the notes to be offered have not been registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.”
SiriusXM Launches Innovative Channel Dedicated to Talk About Music. The satcaster is dubbing it “VOLUME” and calls it “the first-ever 24/7 talk radio channel dedicated to music — its latest news, raging controversies, and non-stop debates – as the focus of the conversation.” The channel will consist of daily shows, artist interviews, weekly specials, a music trivia game show, album reviews, and an in-depth docuseries and more dealing with all genres of popular music. SiriusXM president and chief content officer Scott Greenstein says, “Sirius XM has millions of loyal music fans nationwide and now we are giving those fans a place where they can talk about the music they love. VOLUME will have a deep, all-star roster of talent bringing that conversation only to SiriusXM. It’s yet another example of SiriusXM delivering unique and exciting content to our subscribers. Roger Coletti is the executive producer of this channel and his extensive music expertise makes him the ideal person for this ground-breaking channel.” Some of the shows that will appear on and after the October 17 launch include: live, morning talk show “Feedback” with Nik Carter and veteran magazine editor, entertainment journalist and author Lori Majewski; “Trunk Nation” with DJ Eddie Trunk, who’ll host Metallica’s Lars Ulrich on the debut show; “Debatable” with Mark Goodman and former Spin and Vibe editor and author Alan Light; “Written in My Soul with Bill Flanagan” featuring a series of interviews with legendary musicians, including Robert Plant and Paul Simon; “Rolling Stone Music Now” hosted by Rolling Stone executive editor Nathan Brackett; “Rap Radar Report” hosted by journalist and TV producer Elliott Wilson; “Melissa’s Basement” with Melissa Etheridge (guests booked include David Crosby, Pat Benatar, and Steve Cropper); “Never Meet Your Heroes” with Anthrax guitarist Scott Ian; “True Stories with Kurt Loder”; “The Album Review Show” featuring YouTube star Anthony Fantano; music trivia game “70s 80s 90s Now” with host Jim Shearer; and “The Last of The …” with Ryan Duffy, a journalist, producer and entrepreneur, who will examine the changing landscape in the world of music and tech.
Scripps’ WTMJ, Milwaukee Partners with Milwaukee Business Journal on Local Economy Series. This series will be available on air, online and in print as Scripps’ news/talk WTMJ and the local Milwaukee Business Journal are combining the forces of their newsrooms to present “The Changing Face of Milwaukee” – an in-depth look at “Southeastern Wisconsin’s unprecedented growth in business and infrastructure.” WTMJ vice president and general manager Tom Langmyer states, “As ‘Wisconsin’s Radio Station,’ it’s critical for WTMJ to cover the local news that is affecting our area. Partnering with the Milwaukee Business Journal provides WTMJ great access in the business community and more complete coverage of the economic boom in Southeastern Wisconsin.” WTMJ director of programming and news Eric Brooks adds, “WTMJ and Milwaukee Business Journal reporters will work in pairs to go deeper on this story. With interviews of business leaders and government officials, our teams have created in-depth feature content and expansive digital coverage.” This special news series is in addition to the daily content partnership between the Milwaukee Business Journal and WTMJ. Business Journal reporters share local business headlines six times each weekday along with in-depth analysis of breaking business news in Milwaukee.
Nielsen Audio Releases Third Round of September 2016 PPM Data. The third of four rounds of September 2016 PPM ratings data from Nielsen Audio has been released for 12 markets including: Portland, Charlotte, Pittsburgh, Sacramento, San Antonio, Cincinnati, Cleveland, Salt Lake City, Las Vegas, Kansas City, Orlando, and Columbus. The September 2016 survey period covered August 11 through September 7. You can find the complete 6+ ratings numbers from subscribing stations here. Additionally, TALKERS/RadioInfo managing editor Mike Kinosian provides his “Twelve Takeaways” from this group on the main page of our sister publication here.
The Presidential Race/Post-Debate Analysis, El Cajon Police Kill Black Man, South Carolina Teen Shooter Incident, 9/11 Bill Override, Syria Civil War/U.S.-Russia Relations, Shimon Peres Dies, MLB Playoff Push Among Top News/Talk Stories Yesterday (9/28). The activities of presidential candidates Donald Trump and Hillary Clinton and the analysis of Monday night’s first debate; police in El Cajon, California kill a black man they believed was wielding a gun; a teen shooter in South Carolina kills his father and injures three at a local school; congress overrides President Obama’s veto of a 9/11 bill that will allow victims of the terror attacks to sue Saudi Arabia; the ongoing civil conflict in Syria and the tensions between the U.S. and Assad-backing Russia; former Israeli Prime Minister Shimon Peres dies; and the Major League Baseball playoff push were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Odds & Sods. KIRO, Seattle afternoon talk hosts “Ron & Don” are partnering with the Seattle Police Department (with the support of the Seattle Police Foundation and Sleep Train) for the “Beds for Kids Project.” This year, the goal is to provide a minimum of 150 mattresses, bedframes, sheet sets, comforters and pillows to local children in need, with 100% of the mattresses donated by The Dream Bed, a bed-in-a-box brand with a greater purpose of improving sleeping conditions around the world with its buy one-give one model. The Beds for Kids Project was created in 2014 by Seattle police officers Jeremy Wade and Ryan Gallagher after the two responded to a 911 call and discovered two young girls had been sleeping on the floor of their home. They later returned to that same home with brand new beds, both purchased from their own pockets…..Los Angeles Dodgers play-by-play legend Vin Scully will end a 67-year career calling the team’s games on Sunday (10/2). Fans interested in celebrating Scully’s monumental career and wish to witness the end of an era can hear the broadcast via TuneIn’s MLB Radio…..AdLarge Media‘s “So Money with Farnoosh Torabi” wins the prestigious 2016 Plutus Award for the Best Personal Finance Podcast.
Left to Right. In a joint appearance in the Embry-Riddle Speaker Series in Daytona Beach, Florida on Wednesday (9/28), 93.5/1150 WNDB afternoon drive host Marc Bernier (left) interviews CNN’s Paul Begala (center), and Fox News Channel’s Tucker Carlson (right), before a live audience. The trio analyzed the first presidential debate and looked ahead to the general election.