Feed aggregator

For Paramount President/CEO Bob Bakish, the company continued to “prioritize prudent investment in streaming while maximizing the earnings of our traditional business.” Yet, the company that owns CBS News & Stations on Friday reported Q3 earnings that shows rapid direct-to-consumer growth which can’t quite offset the revenue declines at its far-biggest dollar generation unit: TV Media.

Please Login to view this premium content. (Not a member? Join Today!)

Yes, The E.W. Scripps Co. swung to a net loss in the third quarter of 2023. Due to advertising softness coupled with poor comps due to record 2022 political revenue, this is no surprise, as the six analysts who cover Scripps acknowledged when factoring their earnings per share forecasts for the company that owns TV stations, digital multicast networks and seeks to grow its sports fortunes.

The consensus estimate from the analysts was for Q3 EPS of -$0.22. Scripps did better than that. Yet, the outlook for Q4 continues to bring ho-hum news for those looking for fast growth.

Please Login to view this premium content. (Not a member? Join Today!)

Jimmy Patronis in an undated photo from the CFO website.

The chief financial officer of the state of Florida wants the FCC to “immediately halt any further utilization” of Wireless Emergency Alerts on a national level.

Jimmy Patronis, who also serves as the state’s fire marshal, addressed his letter to FCC Chairwoman Jessica Rosenworcel. In the letter he takes issue with use of the WEA platform to send the nationwide emergency text message to cellphones and wireless devices in early October:

“What was the point of that? Was it really necessary? The federal government scared about 70% of Americans with that alert, and in my opinion, this was government overreach at its finest,” Patronis wrote in the letter. (Read it here.) 

The FCC and FEMA conducted the national tests of WEA and EAS public warning systems on Oct. 4.

Patronis in his letter admonished the FCC for directly reaching out to citizens on their electronic devices. “I don’t like systems where the federal government can access Americans directly to their smartphones. Frankly, I don’t like the idea of any administration (regardless of party) having the ability to DM Americans without their permission,” Patronis wrote.

Patronis, a Republican, has served in Florida’s cabinet since 2017. According to his bio, Patronis is a fourth-generation Floridian who previously worked in his family’s restaurant business. He is a former member of the state legislature.

His letter continued: “Trust in our nation’s ruling class is at an all-time low and for good reason. In a time when the first and second branches of government should be reining in Big Tech and protecting the privacy of American citizens, Big Tech and Big Government seem to be indistinguishable.”

Patronis goes on to demand that the FCC immediately cease utilization of the National Wireless Emergency Alert System. “In my opinion, there is absolutely zero reason that the federal government needs to notify millions of Americans at the exact same moment. It’s unreasonable that people on the West Coast need to be alerted about something going on in the East Coast,” he said.

Patronis says emergency alerting should be left to each state to handle. “State Emergency Management Directors are more than capable of protecting and alerting their own citizens during emergencies without the federal government needlessly getting in the way.”

He concludes his letter: “I urge you as the chairwoman of the FCC and a fellow taxpayer to immediately halt any further utilization of the National Wireless Emergency Alert System. Thank you for your attention to this matter. I look forward to your prompt response.”

Radio World reached out to Chairwoman Rosenworcel’s office for comment but didn’t receive a response. She has sought to expand the capabilities of WEA by making them more accessible to people who don’t speak English or Spanish. In October the FCC adopted rules expanding the language capabilities of WEA by adding more bilingual alerts.

The commission on its website describes Wireless Emergency Alerts as “an essential part of America’s emergency preparedness. Since its launch in 2012, the WEA system has been used more than 84,000 times to warn the public about dangerous weather, missing children and other critical situations – all through alerts on compatible cell phones and other mobile devices.” It notes that wireless companies volunteer to participate and that it is the result of a public/private partnership between the Federal Emergency Management Agency, the FCC and the wireless industry.

His letter produced some eyerolling on an EAS listserv maintained by the Society of Broadcast Engineers.

“I guess he is just unaware that we’ve had national alerting for at least 70 years, beginning with CONELRAD,” one engineer wrote. Another called his letter “political pandering … no, it’s scaremongering and nothing more.”

[Read more Radio World coverage of emergency alerting.]

The post Fla. Official Calls on FCC to Stop Use of National WEA appeared first on Radio World.

An Oregon nonprofit corporation incorporated on October 6, 1989 faces a small fine for failing to timely file a license renewal application for a low-powered TV station serving Eugene, Ore.

Please Login to view this premium content. (Not a member? Join Today!)

On November 15, the broadcast media industry’s most recognized and respected executives will gather in one venue for a limited-seating VIP event that’s unparalleled when it comes to thought leadership, business intelligence, and actionable insights designed to drive your business forward. Forecast 2024, at the prestigious Harvard Club, is your opportunity to fill your brain with knowledge. And Forecast 2024 comes with our no-outside-press guarantee, offering attendees a chance to speak freely about the positives and the challenges impacting the U.S. broadcasting industry. From MAGNA’s Vincent LeTang, NAB head Curtis LeGeyt, and Gray Television co-CEO Pat LaPlatney to WABC owner and entrepreneur John Catsimatidis, NewsNet CEO Vince Bodiford, Lilly Broadcasting CEO Brian Lilly, and more, Forecast 2024 is the one event where you can say you were in the “room where it happened.” ·       Learn how local and independent broadcasters are surviving and thriving.
·       Gain knowledge of how some owners continue to invest in growth opportunities.
·       Better understand the freshest broadcast revenue trends.
·       Hear in everyday language about the legal and regulatory matters that matter most. Plus, you’ll hear from best-selling author and strategist Anthony Iannarino on how a positive attitude and perspective can yield rich dividends, as well as be part of Forecast 2024’s salute to Diane Sutter with the Broadcast Lifetime Leadership Award. And this just in! You won’t want to miss Jeff Charney, Founder & Chief Executive Officer, MKHSTRY (former CMO, Progressive/Aflac), with Mike McVay deliver a “conver-tation” on “The End of the World as We Know It!” That’s only some of what’s to come at Forecast 2024, including an engaging session on the “promise and pitfalls of AI technology in broadcasting” ahead of an Executive Super Session that’s unmatched in the industry. Of course, as past attendees will attest, once the day’s sessions conclude everybody gathers for the Broadcast Leadership Reception, where Broadcast leadership Plaques sponsored will be distributed. Don’t wait. Secure your seat at Forecast 2024 before it’s too late.
You want to be at this event. If not, your competitor may be seated where you could be.

 

Now in its 21st year, Forecast is broadcast media’s most prestigious leadership conference. Presented by Streamline Publishing’s Radio + Television Business Report and Radio Ink, and co-chaired by Catherine Badalamente of Graham Media Group and David Santrella of Salem Media Group, Forecast provides unprecedented opportunities for learning, networking, and conversation with our industry’s top leaders.

Forecast 2024 takes place at the Harvard Club in New York City on November 15, 2023.  Register online today!

Media Bureau grants in part and denies in part the Palm Television, L.P. and Johnstown (WWCP-TV) Licensee, Inc. Petition for a Significantly Viewed Waiver filed on behalf of WATM-TV, Altoona, Pennsylvania

.

Issued a Forfeiture Order in the amount of $4,500 to Town of Coulee City for the violation of Commission rules.

The Media Bureau and the Office of Managing Director require Y2K, Inc., to pay delinquent regulatory fees or show cause why payment should be waived or deferred.

.

Issued a Forfeiture Order in the amount of $1,500 to His Word Broadcasting Co., for the violation of Commission rules.

.

At 330 Market Street in Philadelphia, Fox Television Stations-owned WTXF “FOX 29” is a prominent fixture in the Old City, with a home just steps away from Independence Mall. It remains a highly popular over-the-air station in a market where it competes against owned-and-operated stations from CBS, ABC and NBC. But, if it were up to the Media and Democracy Project, FOX Television Stations would lose the station’s license.

Why? Preston Padden, the former outspoken FOX executive who in recent months has teamed up with MAD, joins RBR+TVBR Editor-in-Chief Adam R Jacobson for an exclusive 30-minute conversation that offers his views on why FOX shouldn’t be permitted to continue owning WTXF — something FOX through its attorneys at Covington & Burlington argues “would upend decades of established Commission precedent, put the Commission in a position fundamentally incompatible with the First Amendment, and threaten to deprive viewers in Philadelphia of a station that serves its community exceptionally well.”

To listen to Padden and Jacobson, simply click on the player at the top of this page or in the embedded player below to access the InFOCUS Podcast, presented by dot.FM.

 

Listen to “The InFOCUS Podcast: Preston Padden” on Spreaker.

“We achieved a record quarterly advertising revenue of $274.4 million, up 14% year-over-year, led by strength in our Digital segment, which now comprises 84% of total revenue,” said Chris Young, Chief Financial Officer for Entravision Communications — a company rooted in Hispanic radio and TV in the U.S. but today is, beyond a doubt, a global digital ad solutions leader.

A simple glance at the company’s Q3 2023 results illustrates just how significant, and large, the digital revenue is for the company founded by the late Walter Ulloa.

For the period ending September 30, Digital Net Revenue soared by 23% to $231.49 million, from $188.88 million. By comparison, Television net revenue slid by 17%, moving to $29.55 million from $35.68 million, as Audio division net revenue (inclusive of Radio) declined by 19%, to $13.38 million from $16.5 million.

While it is clear that Digital fueled that net revenue growth, operating expenses grew by 9% overall — and by 21%, to $23.17 million, for the Digital segment.

Thus, while Entravision continued to execute on its “digital transformation strategy” during the quarter, a period that saw the signing of two new partnerships with Match and Pinterest, consolidated EBITDA declined by 45% to $14.19 million, from $25.97 million. Operating income slumped by 68%, to $5.13 million.

While non-returning political revenue and sales softness are to blame, Entravision nevertheless saw its net income fall by 70% in Q3 2023, dipping to $2.72 million ($0.03) from $9.39 million ($0.11).

Despite the steep year-over-year revenue dip, the revenue is in line with the consensus estimate from three analysts polled by Yahoo! Finance. Two analysts offered an EPS forecast, resulting in range of $0.01-$0.07; Entravision’s EPS fell right in the center of this range.

Entravision’s Board of Directors approved a quarterly cash dividend to shareholders of $0.05 per share on the company’s Class A and Class U common stock, payable on December 29 to shareholders of record as of the close of business on December 15.

It’s the birthplace of KDKA Radio, widely regarded as one of the nation’s longest-running radio stations. In honor of that legacy, a team of broadcasting industry veterans that includes a Pittsburgh broadcaster and sports announcer on Thursday unveiled plans for a museum that will showcase the origins of broadcasting.

 

Please Login to view this premium content. (Not a member? Join Today!)

TORONTO — ATSC 3.0 research, testing, and deployment is moving beyond the U.S., South Korea, Brazil and Jamaica. At present, the Broadcast-Broadband Convergence B²CLab infrastructure at Humber College in Toronto is squarely focused on bringing the benefits of the new digital broadcast television technology to Canada.

Helping as a key supplier is Thomson Broadcast-owned GatesAir.

 

Please Login to view this premium content. (Not a member? Join Today!)

NEW YORK — FOX Corporation on Thursday released its financial results for the first quarter of its 2024 fiscal year. On first glance, the big takeaway is that a soft advertising market is impacting its revenue. However, a closer look at the company’s fiscal health report indicates that higher expenses are the culprit for a quarter that could have been better, and perhaps worse.

Please Login to view this premium content. (Not a member? Join Today!)

Lawo’s management team, from left: CMO Andreas Hilmer, CCO Jamie Dunn, joint CFO/Vorstand Claus Gärtner, joint CFO/Vorstand Claudia Nowak, CTO Phil Myers, COO Ulrich Schnabl and CSCO Christian Lukic.

Equipment manufacturer Lawo has added Claus Gärtner to its executive management board.

He will also be the company’s new chief financial officer and “Vorstand,” succeeding Claudia Nowak when she retires next September. The two will hold that role jointly until then.

Other members of the board are Chief Commercial Officer Jamie Dunn, Chief Marketing Officer Andreas Hilmer, Chief Supply Chain Officer Christian Lukic, Chief Technology Officer Phil Myers and Chief Operating Officer Ulrich Schnabl.

Gärtner has held executive positions with Rheinmetall, Smiths-Heimann and Heidelberg Engineering Group. He holds a master’s degree in economics.

After leaving the company next year Nowak will join its supervisory board.

CEO Philipp Lawo stepped down from active management six years ago. In the announcement, the company said that Lawo has seen consistent growth over that time “even in the face of pandemic-related disruptions and supply chain challenges.”

The company, based in Germany, makes video, audio, control and monitoring technology for broadcast, performing arts, installed sound and corporate applications. Engineer Peter Lawo founded it in 1970 as a development firm for technologies used in the making of electronic music. 

Read more People News.

The post Lawo Adds Gärtner to Its Executive Board appeared first on Radio World.

NEW YORK — The “Advertising Intelligence unit” of globally recognized Kantar Group is heading into the hands of an ad intelligence and sales enablement platform backed by Thompson Street Capital Partners and Endicott Capital.

Please Login to view this premium content. (Not a member? Join Today!)

NEW YORK — The Broadcasters Foundation of America has kicked off its annual Year-End Giving Campaign. The Year-End Giving Campaign asks for personal tax-deductible donations to the Guardian Fund. Corporate donations can be given to the Angel Initiative, which is also tax deductible.

“Life can change in a heartbeat, and exorbitant medical bills can leave one of our colleagues in broadcasting in desperate need of assistance,” stated Scott Herman, Chairman of the Broadcasters Foundation. “I’m asking everyone in radio and television to consider a donation, in any amount, so that we can continue to provide assistance to those in our industry who need it most.”

A 501c3 charity, the Broadcasters Foundation provides financial aid to broadcast radio and television colleagues who are in need due to debilitating illness, accident, or tragedy.

“The Broadcasters Foundation is often the last hope for our peers suffering from severe illness or recovering from disaster,” said Tim McCarthy, President of the Broadcasters Foundation. “To date, we have never turned away a broadcaster who qualified for aid. Donations, in any amount, can ensure that the Broadcasters Foundation continues that track record.”

The Broadcasters Foundation has distributed more than $15 million dollars in aid over the past 20 years. This year alone, the Foundation will award approximately $1.8 million.

More information about the Broadcasters Foundation, including how to make a donation or apply for aid, is available at www.broadcastersfoundation.org, 212-373-8250, or info@thebfoa.org.