Tuesday, December 3, 2024

Rogers Takes Bell’s Stake In Maple Leaf Sports & Entertainment

When the billion-dollar transaction closes, Rogers will be the largest owner of MLSE with a controlling Interest of 75% in the entity that owns the Toronto Maple Leafs and Toronto Raptors. Meanwhile, the deal will provide Bell with the opportunity to renew its existing MLSE broadcast and sponsorship rights long-term at fair market value, Rogers says.
Corus Entertainment's Toronto headquarters, as of January 2020

Canada’s Corus Amends Its Credit Facility

Corus Entertainment Inc. has completed an agreement to amend its "Sixth Amended and Restated Credit Agreement" with its bank group, led by RBC Capital Markets and TD Securities, as co-leads, dated March 18, 2022, as last amended on May 30, 2024.

TEGNA Board Approves Quarterly Dividend

The bonus cash for TEGNA shareholders will be payable to shareholders of record as of the close of business on Friday, March 8. The announcement comes ahead of the broadcast TV station owner's Q4 2023 earnings release, scheduled for February 29.
Wade Davis

A 41% Narrowing Of TelevisaUnivision’s Net Loss In Q4

Things are looking up for the world's top creator of Spanish-language audio and video content. Still, a loss in the hundreds of millions of dollars was seen by TelevisaUnivision in Q4 2023.  With a recent debt swap at a significantly higher interest rate, the pressure is on for CEO Wade Davis.

Embattled Rogers Family Members ‘Retire’ From Board of Directors

A fight over the legacy of Ted Rogers has formally concluded at Canadian mega-giant Rogers Communications, thanks to a private settlement between his descendants and the publicly traded company that bares his surname.
Televisa Univision

Q1 ViX Expenses Pay Off For TelevisaUnivision In Q2

After a posted Q1 loss attributed largely to operating expenses tied to its OTT platform ViX, Spanish-language multimedia company TelevisaUnivision's investment appears to have already paid off, especially in Mexico.

Veteran Analyst Ehrlich To Moderate Netflix’s Q4 Earnings Review

Instead of a traditional quarterly earnings call, Netflix releases a video interview with key C-Suite members in which the previous quarter was discussed. For Q4 2022, a Bank of America Securities veteran media analyst will conduct the affair.

Nielsen Confirms Extension of Tender Offers

Nielsen Holdings has revealed that several groups of debtholders have amended the terms of previously announced cash tender offers. The key takeaway: The expiry date was extended to the Jewish Day of Atonement.

Push Continues for National Privacy Standard

More business groups are pushing lawmakers to pass a single national standard for consumer privacy. The ANA and IAB are among the groups that want legislation.
Dave Santrella, radio division president, Salem Media Group

With Its Stock Jumpy, Salem Execs Prep for LD Micro Affair

Salem Media Group executives are gearing up for a presentation scheduled for October 13 at a key investor event of the fall season. As they finalize what they plan on sharing, investors on Wall Street can't decide if they should buy Salem, or make a quick profit by selling their stock.
Tom Carter

With Stock Flying High, Nexstar Board OKs Big Dividend

Nexstar Media Group is riding high as it prepares to release its Q2 2021 earnings report on August 4. Now, its board of directors has responded with a rich reward to its shareholders of record as of August 13.
Townsquare Media CEO Bill Wilson

Freaky Friday: Townsquare Shares Slump in Active Trading

Townsquare Media shares were off by 11% from Thursday, with a $6.60 price seen just six minutes before the Closing Bell on the NYSE rang. Volume, which is normally light, was more than five times its average. What prompted the downward activity for the local media company?

Is Remote Work Here to Stay?

Many of the positions at a radio station have now proven to be able to work successfully on a remote basis—definitely those in sales, if the right tools, processes, and procedures are in place. How realistic is it that more people will work from home once the pandemic concludes? Laurie Kahn of Media Staffing Network shares her thoughts in this Media Information Bureau article.

It’s Official: iHeart is Buying KFMB-AM. Here’s The Price

On March 17, venerable Talker KFMB-AM in San Diego effectively became an iHeartMedia station thanks to an LMA with the company that had literally just obtained it from TEGNA. It is now confirmed that iHeart is purchasing the station. Kalil & Co. represented the seller. How much is it paying for the property?
Wall Street

Another Drubbing on Wall Street For Radio

Call it the "COVID-19 Limbo Rock." With some asking Wall Street, "How low can you go?," investors on Wednesday largely abandoned their positions in many of the media industry's biggest companies. With the Dow 30 off 6.3% to 19,898.92 and the Nasdaq down 4.7% to 6,989.84, some familiar radio companies' shares are in unfathomably low pricing funks.