the HOT List

In mid-March, ad revenue plummeted as COVID-19 fueled shelter-in-place rules clobbered the nation's economy. But, this "local first" company had a slightly different story to tell: digital and interactive grew, even in a pandemic. Still, that couldn't prevent the company from freezing its quarterly dividend payments and experiencing a 17.7% pro forma adjusted EBITDA dip.

As protests continue to take place around the country following the murder of George Floyd by members of the Minneapolis Police Department, a Pew Research Center analysis finds that two-thirds of Americans, including a majority of adults across racial and ethnic groups, express support for the Black Lives Matter movement.

Is this a positive COVID-19 effect ... or something else? Since the start of the year, Americans' trust in government has risen nine points, while their trust in business has risen by six points. Those are the key findings of the 2020 Edelman Trust Barometer Spring Update: Trust and the COVID-19 Pandemic.

Spearheaded by Ron Stone, who heads Adams Radio Group, the proposed Independent Broadcasters Association has seen a rapidly increased interest since word first emerged of his plans to launch the group. "We have a chance to make things better for the independents and it is time we do," Stone says.

The COVID-19 pandemic impacted Blacks in far greater ways than the total population. Then came the George Floyd murder and international protests. How is the obligation, if you will, of African American owned and operated stations in serving their audience more important than ever? NABOB head Jim Winston answers this and other questions in an exclusive podcast. LISTEN HERE

Marketers, looking for increased productivity and transparency in their media investments, are calling for sweeping changes and improvements in the media ecosystem. This, says one of the most influential brand stewards in the world, includes transformative changes to the upfront marketplace.

A material impairment charge to the intangible assets of "local first" radio station and digital media company Townsquare Media has been taken. There's more: a material impairment charge to Townsquare's "goodwill" was needed, resulting from a change in the company's reporting segments.  Townsquare explained why in a SEC filing made Tuesday.

Paul Rotella filed formal comments on behalf of the NJBA with the FCC requesting it permanently reduce, "and certainly not raise," regulatory fees for broadcasters. In Rotella's view, an increase in annual fees for broadcasters is not warranted — reiterating comments made May 22 on a RBR+TVBR InFOCUS Podcast.

Who knew that broadcast TV's future could involve freeway traffic and entertaining vehicular occupants while speeding along on a city street? The Advanced Television Systems Committee has been exploring automotive use cases for the ATSC 3.0 standard, applications that include robust broadcast updates for telematics and navigation, and sensors for autonomous vehicles.

Nielsen has the results of its second review of U.S. consumer sentiment on COVID-19 recovery and purchase intentions. It's a stark contrast to what Americans thought at the start of May, compared to their views at the end of May. As Cumulus Media Chief Insights Officer Pierre Bouvard sees it, it's a "seismic bump up" in terms of how positive consumers feel right now.

Internal Revenue Code Section 280G — the federal government's “golden parachute payment” rules — reflect a federal tax provision that comes into play when there is a change in control of a corporation. Tax gross-up provisions on these so-called parachutes have been eliminated from the employment agreements of iHeartMedia's top two executives.

Do you feel it? Pivotal Research Group Senior Research Analyst for Internet and Media Michael Levine says digital media's biggest stars have -- perhaps putting radio and TV a step behind. "While its likely not totally shocking at this point, we think that April increasingly feels like the bottom," he says about the novel coronavirus' deep impact on advertising seen since mid-March.

Until one week ago, "La Raza" served the Twin Cities' growing Hispanic community with regional Mexican programming from the heart of the Longfellow neighborhood of Minneapolis. In the wee hours of May 28, the building housing their offices and studios went up in flames, as riots engulfed the city in reaction to the murder of George Floyd by local police officers. Today, "La Raza" resumed broadcasting.

The NAB despises it. The nation's broadcast TV networks want it swatted like a fly. That's not stopping Locast from spreading its wings. The controversial service that purports to be a non-profit in service of the public interest has just entered its third market this year. And, it's one of the biggest in the Southeastern U.S.

"We are at a critical juncture in history," says RBR+TVBR Publisher Deborah Parenti. "I certainly don’t have the answers, but I do know we need to come together to heal America. We, as broadcasters, have a role to play in that. And finding solutions start with conversations." In this column, Parenti heralds Radio's importance as a voice of the African American community.