When it comes to iHeartMedia's eponymous core business unit, it was a good Q1, with revenue climbing 2.5%, to $757.2 million. Here's where the good news ends for iHeart. No matter how you sugar-coat it, iHeartMedia has some major financial challenges on its hands, as its consolidated revenue dipped 2.4%, to $1.33 billion, due to declines in its Clear Channel Outdoor unit. Perhaps most telling are the across-the-board declines in iHeart's operating income.
That's how Sinclair Broadcast Group Executive Chairman David Smith summarizes the state of his broadcast media company, which saw its Q1 total net revenue increase to $649.9 million, from $578.9 million, as its net income surged thanks to an 'Alarm' sale.
For all of the chatter about how AM and FM radio station access via a smart home device could be a godsend for a stagnant industry, one tech expert at the 2017 NAB Show has thought little about connecting radio's audio streams to "internet of things" technology powered by voice commands. This may present an opportunity for a unified radio push.
Beasley Broadcast Group this morning (5/2) ushered in a busy week of Q1 earnings releases from broadcast media companies, and on its face, Beasley had a boffo first three months of 2017. That's thanks to the inclusion of the former Greater Media stations. Minus those properties, Beasley legacy station revenue declined by $2 million. Why? Politics — and a "shock jock" no longer on one of the company's stations — are to blame.
Some six years after acquiring its first television station, The Meruelo Group has just agreed to purchase its second broadcast property. And, it's a bit of a bargain, as it's paying just $10 million for assets tied to a station within the Los Angeles DMA. What's perhaps most notable about this deal is that it's the first to involve a post-spectrum auction transfer of control of a channel-sharing agreement. We've broken down details as to how Bob Behar's Miami-based Hero Licenseco is exiting Southern California, pocketing millions with the decision.
Mark May 18, 2017 as the day the FCC starts to say goodbye to a rule that's been on the books since FDR was President and World War II had yet to reach its apex. That's when the Commission, at its May Open Meeting, will open "MB Docket No. 17-106." That's Washingtonian for the elimination of the main studio rule, and Garvey Schubert Barer may be to thank for the NPRM, although its petition was dismissed as moot.
With the spectrum auction now concluded, Meredith is looking to be a buyer: The company said in releasing its fiscal Q3 2017 results prior to Thursday's Opening Bell on Wall Street that it "expects to continue to grow its Local Media Group organically and through strategic acquisitions." How did the owner of broadcast TV stations fare in its fiscal Q3? We dissected the numbers for you.
It wasn't that long ago when some industry observers questioned the profitability of satellite radio. Today, there's no question that with one player in the arena -- Sirius XM -- it's certainly a revenue maker. That's because Sirius XM Holdings matched Wall Street expectations in its latest quarterly earnings report.
DISH Network has reached a multi-year retransmission fees agreement with Hearst Television, ending a nearly two-month stalemate with the owner of stations in 26 markets across 30 states. Terms of the agreement were not disclosed, DISH said in a late Wednesday (4/26) release.
The Los Angeles Chargers, formerly the San Diego Chargers National Football League club, have agreed in principle to multi-year television and radio agreements that will make The Walt Disney Co.'s West Coast flagship and the nation's biggest Azteca América station as its official TV partners. At the same time, the No. 1 radio broadcast company's L.A. cluster and a historic AM now owned by Lotus Communications are now the franchise's official radio partners.
With discussion on AM revitalization and more translators a core topic of discussion at the 2017 NAB Show in Las Vegas, a session devoted to RF interference and how AMs can advance their efforts drew a packed house of engineers and station owners. In an exclusive INFOCUS report, RBR+TVBR talks with a Wyoming operator of two AMs that are "cash cows," and the station's contract engineer. To them, AM's present and future is a business necessity that D.C. needs to hear, loud and clear.
Say goodbye to net neutrality as we know it. In a major policy speech delivered this afternoon at the Newseum in Washington, D.C., FCC Chairman Ajit Pai officially unveiled his net neutrality proposals by "restoring internet freedom" through the repeal of Obama-era regulations. Naturally, Pai says such a decision will benefit all Americans. Here's how his new approach, in his view, would do so.
At a colossally large conference with much of the action and activity in the Central Hall – where the tech players are, as opposed to the North Hall with a lighter flow of attendees checking out radio and TV tech firms’ exhibit booths – FCC Chairman Ajit Pai began his address by talking about radio and ending with a reference to Vin Scully, and how his ability to step out of the way at the best time is a perfect allegory for how the Commission should regulate broadcasters.
In May 2016, Gray Television agreed to acquire a pair of television stations in the Clarksburg, W. Va., market from Withers Broadcasting. The $26.5 million deal, struck prior to the start of the spectrum auction, saw Gray grab the CBS affiliate and its FOX station. But, the FCC reviewed the deal, as Gray said the deal qualified for a waiver of the local TV multiple ownership rule. That's because the FOX station in the deal is a "failing station," Gray contended. The Commission agreed.
If there was one event that could bring together FCC Chairman Ajit Pai, the top leaders of the broadcast television industry and an endless array of exhibitors eager to grow their media tech sales, the 2017 NAB Show now officially underway in Southern Nevada is the definitive draw.