Radio+Television Business Report

Forget about that Halloween Night Non-Stop Dance Party sponsored by a local or regional advertiser you can grow a relationship with, Audacy Inc. CHR/Pop programmers.

A hot Young Adult actress known for her roles on Mad Men and Netflix’s just-concluded Chilling Adventures of Sabrina is taking over your airwaves Sunday evening as part of a company-wide takeover tied to Cadence13‘s new podcast movie studio division.

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If investors truly want to gauge the financial health of the broadcast media industry, all they need is a full day of undivided attention to no less than eight CEOs.

Thursday, November 4 has emerged as a monster day for Q3 2021 earnings releases for publicly traded radio and television companies.

The latest company to add their third-quarter conference call to the day’s calendar: Univision Communications.

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COLONIE, N.Y. — On February 22, one of the most successful AM radio stations in the Northeast will celebrate 100 years of service. Today, it remains a vital link to consumers, and to the advertisers who wish to connect with them.

That said, the Capital District of New York State is home to a vibrant mix of radio stations, both locally owned and operated and under the control of the nation’s largest licensee of radio properties.

How powerful these stations can be for a local, regional or national advertiser was made known earlier his week at a gathering co-presented by the Radio Advertising Bureau (RAB).

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Over the last three years, a Minnesota-based nonprofit corporation tied to a private evangelical Christian college has been an active buyer and seller of radio stations.

Now, the entity comprised of religious noncommercial full-power FM stations and FM translators is growing again.

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“We’re shuffling a few things around to make room for even more great content.”

That’s how the SiriusXM Listener Care center explains a significant realignment of some of its music and sports talk channels — a move that will put an end to its “50s on 5” and “60s on 6” channels with their relocation far up the channel lineup.

At the same time, “SiriusXM Love” is coming off the satellite radio dial.

The changes take place on Wednesday, November 3. “Same awesome programming, different home,” SiriusXM says.

Yet, that’s not entirely true, as SiriusXM Love will become an online-only offering, at Channel 708.

Meanwhile, a flurry of channel shifts are set to occur, as follows:

• The Pulse: Ch. 5 (formerly 15)
• The Coffee House: Ch. 6 (formerly 14)
• Siriusly Sinatra: Ch. 70 (formerly 71)
• 40s Junction: Ch. 71 (formerly 73)
• On Broadway: Ch. 77 (formerly 72)
• Kidz Bop: Ch. 79 (formerly 77)

However, the biggest move will see the 50s tunes rebranded as “50s Gold,” taking Channel 72. The 60s, with veteran hosts “Shotgun” Tom Kelly and Pat St. John alongside Dave Hoeffel as air personalities, will be branded as “60s Gold,” taking Channel 73.

The “70s on 7” remains on Channel 7; corresponding decade-specific channels remain on Channels 8-11.

Channel presets on Sirius XM radios should automatically change, the satellite radio company says.

The biggest unanswered question: Where’s the “even more great content” tied to the channel shifts?

SiriusXM was mum as of Thursday evening (10/28).

In mid-September, Sinclair Broadcast Group-owned Dielectric first shared how the company literally changed how FM broadcast antenna manufacturers validate directional pattern studies for new FM broadcast antennas.

This led Dielectric to submit a Petition for Rulemaking with the FCC. With the Commission’s October Open Meeting, it moved forward. Introducing MB Docket 21-422.

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WASHINGTON, D.C. — The Partnership for Public Service has revealed the 2021 recipient of the prestigious Paul A. Volcker Career Achievement Media.

It is being awarded to the Senior Economic Advisor in the FCC’s Office of Economics and Analytics.

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The company founded and led by Jeff Smulyan has earmarked as much as $5.2 million to invest in a long-awaited stock repurchase initiative — one that will take up to two million Class A Emmis Communications shares out of public hands.

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Since joining Nexstar Media Group in 2019, she has overseen the distribution of Nexstar’s broadcast and television content portfolio across the MVPD landscape, in addition to struggling cable television network NewsNation (formerly WGN America).

Now, she’s earned the title of President at the company founded and led by Perry Sook.

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Earlier this week, Procter & Gamble Co. Chief Brand Officer Marc S. Pritchard was in attendance at the ANA’s Multicultural Marketing & Diversity Conference, held in San Diego. It was the fifth year in a row Pritchard, a champion of DEI and multicultural marketing has spoken at the event.

This year, Pritchard wanted his appearance to serve as an opportunity to address what he calls “the entrenched habits in how we do marketing.” He also outlined a path to building new habits he says are needed to widen the opportunity for multicultural marketing.

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As the Washington, D.C.-based Women’s Media Center sees it, gender inequality in America’s newsrooms continues across all media platforms.

WMC researchers came to this conclusion after analyzing some 62,002 pieces of content from January 1 through March 31 for 30 news outlets across four platforms: print newspaper, online news, broadcast network and cable TV news, and wire services in the United States.

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Still debating whether or not to join the radio and television industry’s leaders at the only event of its kind? Time is ticking — and Early Bird Pricing for Forecast 2022 on November 16 in New York will end in just three days. The last day to register for Forecast at Early Bird pricing is Sunday, October 31. On Monday, November 1, registration for Forecast 2022 increases by $200. That’s the cost of a nice Midtown Manhattan meal, or even airfare for some attendees. Don’t miss the chance to save on broadcasting’s big event of 2021. It’s your first chance in more than 18 months to congregate with advertising industry decision makers, investment and media analysts, and broadcast industry executives. Attendees will be engaged across a full day of compelling content and in-person networking. Forecast 2022 Early Bird Registration is still available! Don’t hesitate — secure your seat now. For the complete Forecast 2022 agenda, click HERE.
Mark your calendar now for Forecast 2022, November 16 at the Harvard Club in New York.

Register today and save.

Increasing its visibility on Capitol Hill, as its Members gain the attention of more investors than ever, is a key first effort for the recently launched LPTV Broadcasters Association.

From new construction permit regulations enacted by the FCC to increased valuations in transactions seen across 2021, low-power TV is growing — and has become more important than ever. For the LPTVBA, connecting with consumers includes the use of low-power TV stations for hyperlocal news and events, such as high school football. Then, there are the future dollars tied to the rollout of broadcast internet, which one LPTV licensee will soon move forward with.

In this InFOCUS Podcast, presented by dot.FM, LPTVBA Executive Director Michael Lee offers a comprehensive update on why his organization seeks passage of the “Local Journalism Sustainability Act” as low-power television stations attract buyers ranging from The E.W. Scripps Co. and Gray Television to entrepreneurs including LPTVBA founder Frank Copsidas and South Asian TV programming specialist Ravi Kapur.

Listen to “The InFOCUS Podcast: Michael Lee, LPTV Broadcasters Assn.” on Spreaker.

There’s a new VP/GM for the CBS and The CW Network affiliates serving Boise, Idaho.

New to the Sinclair Broadcast Group duopoly in Idaho’s biggest market is the former VP/GM of the CBS affiliate serving Champaign, Ill., a Nexstar Media Group property.

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New leadership for talent strategy at CBS News and Stations that its leaders believe “will enhance the organization’s recruitment and development” has been named by its presidents and co-heads, Neeraj Khemlani and Wendy McMahon.

The appointments are effective November 1.

The changes involve CBS News SVP Laurie Orlando, who will move into a new role overseeing talent strategy for the CBS Stations and local streaming unit, reporting to McMahon.

They also involve 20-year CBS News production and talent recruitment specialist Alison Pepper, who returns to the fold to take on the role of SVP for talent strategy for CBS News and Network streaming, reporting to Khemlani.

The new structure is part of “the evolution” of CBS News and Stations under Khemlani and McMahon, a move made by ViacomCBS “to unify all local to global newsgathering across all platforms.”

Orlando joined CBS News in January 2016 after serving as a top executive for ESPN, where she oversaw talent recruitment and development since 2008. She began her career in television in 1980 as a news intern with WRGB-6 in Albany, N.Y. In 1986, she worked as an intern for “Late Night with David Letterman” before moving onto positions with Showtime and Comedy Channel.

Pepper spent almost two decades at CBS, rising to senior producer for 60 MINUTES until taking a job as an agent at CAA in its Television – News and Sports Media group, where she represented on-air reporters, personalities and producers.

Pepper’s career at CBS News began as a page in May 2000.

The first of the broadcast media industry’s quarterly earnings reports surfaced on Thursday morning, as Meredith Corporation, which is in the final stages of the sale of its Local Media unit to Gray Television, released its fiscal 2022 first-quarter results.

With Barry Diller’s IAC purchasing the National Media arm, and all other assets, of Meredith, this will be the final Q1 report television industry observers and financial analysts will see from Meredith. And, as is typical in non-political years, tough comparisons are at play, explaining a 7% Local Media revenue decline.

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The nation’s biggest owner of radio stations has repurchased and cancelled all of its outstanding shares of Series A Perpetual Preferred Stock. To do so, it used cash on hand, wiping 60,000 outstanding shares out of existence.

It is officially iHeartMedia Inc. subsidiary iHeart Operations Inc. that made the move, one that sees the audio content and distribution company behind iHeartRadio voluntarily repurchase the full balance of its $60 million preferred stock.

According to iHeartMedia Chairman/CEO Bob Pittman, it demonstrates the company’s commitment to strengthening its balance sheet and increasing free cash flow, while still maintaining “ample liquidity.”

Pittman added, “Repurchasing early allows us to realize interest savings, exit the most restrictive instrument on our balance sheet, and continue to reinforce iHeart’s commitment to improving our capital structure. This action continues to demonstrate our confidence in our business moving forward.”

The cash repurchase price for each Series A Perpetual Preferred Stock is $1,000, plus a premium equal to the remaining dividends required to be paid through the optional redemption date of May 1, 2022 — discounted at a negotiated rate. This results in an aggregate redemption amount of $64.35 million to be paid to the holders of the $60 million Series A Perpetual Preferred Stock.

On word of the repurchase, IHRT shares were up 22 cents to $19.81 in after-hours trading on Wednesday.

Following in Spot Inc.‘s footsteps in 2016 would have been a good move. Today, with respect to its finances, it is ill-advised.

Tell that to Jack Dorsey, the billionaire CEO at Twitter. His company’s shares plummeted Wednesday on Wall Street following the release of less-than-stellar Q3 2021 results.

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The Board of Directors at the Northern Virginia-based broadcast TV company that’s reportedly considering bids from Byron Allen and from a partnership between embattled investor Soohyung Kim’s Standard General and Apollo Global Management has declared a shareholder dividend.

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With Wednesday’s Closing Bell on Wall Street, 100 shares of Audacy Inc. stock would cost, minus any broker fees, $321.

That’s still not even close to the revised price target one financial analyst just put on a single share of Spotify stock, lauding the streaming audio company for an “excellent” Q3 2021 report card and an outlook that is “quite strong.”

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