A Disastrous Stock Sink For ViacomCBS Haunts Giant Equity Offering
The powers that be at Spongebob's employer responded to the incredible growth of ViacomCBS stock by initiating a mammoth $3 billion equity offering following Monday's Closing Bell on Nasdaq. The reaction from investors? Sell! Sell! Sell! ViacomCBS shares are in a free-fall, with a 23.2% decline seen on Wednesday. Early after-hours trading saw a further dip for VIAC.
Univision’s New Leaders Get Upfront On ‘New Vision’
"Grow with our audience, and grow with us." That's the pitch presented to new and returning brand managers and CMOs across a digitally delivered event that was one-part Upfront presentation and another part a full introduction to two new key members of the largest multimedia company superserving U.S. Hispanics.
The InFOCUS Podcast: Steve Walsh, Comscore
Comscore is devoting its future to local cross-platform measurement and says groups and agencies are shifting from talk to action. EVP of Commercial Steve Walsh shares how Comscore is driving the mastery of matching homes with the actual purchase behavior seen in those homes in this fresh InFOCUS Podcast, presented by DOT.FM. LISTEN HERE
Black Out At CMG’s Controlling Parent
Nearly eight weeks after a Apollo Global Management “Conflicts Committee” and its board of directors completed a previously announced independent review of Chairman/CEO Leon Black’s previous professional relationship with the late Jeffrey Epstein, Black has exited Apollo. It comes several months ahead of the transition plan released in January.
This CEO Doubles Down On Its Soft Stock Price
Comscore's five-year stock trend is far from pretty. Two years ago, SCOR was suddenly slipping from a $20 price range; it started 2017 in the mid-$33 range. By August 2019, Comscore shares were at $1.86. Today, they start the week on a strong note, with a 7.4% jump in value on Monday. For CEO Bill Livek believes they're seriously undervalued.
HC2 The Seller: Thirteen Properties Added To Sell List
After amassing a formidable stable of low-power and full-power television properties between the first quarter of 2017 and third quarter 2019, HC2 Holdings appears to be in the midst of a significant asset paring. The company now led by Chief Executive Officer Wayne Barr Jr. has signed off on its fourth divestment deal since the start of 2021.
ACA Connects Leader Laments The New NFL Deal
The National Football League has reached new long-term deals with its media partners, and the head of the lobbying group representing the interests of small MVPDs is less than pleased with what it will do for cable customers. As Matthew M. Polka sees it, it only strengthens the need for Congress to pass legislation that eliminates retransmission consent.
A Huge Q4 Reward For Urban One
Get ready for another fiery day on Wall Street for Urban One. The company on Thursday morning released its fourth quarter and full-year 2020 earnings. And ... they're spectacular. In pre-market trading, UONE was up by some 12%. While that set the stage for another growth spurt for Urban One stock, tepid growth was seen at market close.
What To Do When A Surprise Foreign Investment Emerges
In an exclusive report, RBR+TVBR has learned that Global's initial stake in iHeartMedia was made in violation of the FCC's foreign ownership rules. What companies can do to prevent such a situation from happening may now be the newest hot-button topic floating between the C-Suite and their outside legal counsel.
Forget the FCC: Thune Re-Introduces ‘Bipartisan’ Section 230 Bill
With little chance of Section 230 of the Communications Decency Act's review and potential rewriting coming under Jessica Rosenworcel's watch, Congress has opted to do what the FCC under Democratic leadership likely won't. On Wednesday, a "bipartisan" show of support for Section 230 surfaced in the U.S. Senate.
2021: A Year Of Continued Challenges For Radio, TV
The U.S. broadcast station industry, in particular TV companies, enjoyed record 2020 political revenue. That income is now gone for four years, and broadcast media has what Kagan analyst Justin Nielson calls "a transitional year" ahead. Keep those seatbelts fastened, and keep expenses under control, folks: It may not be time yet for quarterly comps to 2019.
IHRT Soars On Global Investment Report, Analyst Hike
Shares of iHeartMedia stock catapulted upward in one of the company's biggest-ever buying sessions on Wall Street. As the Closing Bell rang on the Nasdaq GlobalSelect Market on Tuesday, IHRT was up by more than 11% from Monday. Why? An analyst upgrade and big news out of Britain fueled the activity.
Townsquare Terrific: Digital First Shift Knocks Q4 Out of Ballpark
Townsquare Media CEO Bill Wilson (pictured) and EVP/CFO Stu Rosenstein have perhaps the best recovery story in the local media industry. Why? Digital fueled strong fourth quarter growth, setting the stage for a most impressive finish to 2020 that crushed even the best forecasts company numbers-crunchers came up with last autumn.
Behind Gray Television’s ‘Failing’ Plan To Win
Gray's $925 million purchase of Quincy Media's assets will result in the immediate divestment of Quincy stations in six markets where Gray already has properties, thus avoiding current local ownership rule limit concerns. The transaction also sees Gray seeking a "failing station" waiver in one Wisconsin market, and in an Indiana market.
A Major Maple Leaf Merger Sews Shaw With Rogers
Rogers Communications — founded 59 years ago by Ted Rogers with his establishment of CHFI-FM in Canada's largest market — is merging with Shaw Communications in a deal that saw its initial fruition carved more than eight years ago. It comes just months after Rogers was snubbed by one of Québec's largest media companies -- one with U.S.-based holdings.