Objections Fly Against iHeart Emergency Motions
Tuesday could be a day of tussles for iHeartMedia, Judge Marvin Isgur and a 76-year-old investor who in August led a $1 billion lawsuit against Clear Channel Outdoor Holdings. Both iHeart and this investor, Mario Gabelli, late Friday filed lengthy Emergency Motions with the court designed to influence Isgur.
Telemundo Shuffles Its Global Studios C-Suite
Production EVP Ricardo Coeto is exiting Telemundo Global Studios. It's part of an executive shake-up at the Miami-based entity of NBCUniversal Telemundo Enterprises responsible for producing scripted Spanish-language content for U.S. Hispanic audiences.
Comcast’s Latest Spotlight: An iHeart Payment Ask
Comcast Spotlight wants iHeartMedia to follow through on a promise to pay it all that it is owed. Meanwhile, a Boston-based investment firm founded by David Abrams appears ready to work with WSFS Bank on a truce between junior and senior noteholders.
Repeat Offender … And A Past License Loser
One would hope that a Notice of Violation from the FCC would not only fix a problem, but prevent a repeat offense. An Alabama operator has again been warned for transmitting away from its authorized site, repeating a 2013 action. That's nothing compared to what happened nine years ago.
Telemundo’s Big Asset Adds
The evening of Dec. 6 will see Telemundo's top communications executives celebrate the holidays with key members of the press at a holiday party. One thing the NBCUniversal arm will be celebrating is the addition of stations in the Sacramento and Salt Lake City DMAs.
Judge Asked To Delay iHeart BK Plan Confirmation Hearing
The all-important Tuesday hearing in a Houston-based U.S. Bankruptcy Court that will give a yes or no to iHeartMedia's reorganization plan could be put on hold. A draft "stipulation and order" seeking an indefinite delay has been jointly submitted by iHeartMedia and WSFS Bank.
Powell’s Panhandle Abandonment Now Complete
Faced with rebuilding its Panama City, Fla., stations or abandoning them, Powell Broadcasting elected the latter, even as one of the FMs had just been sold to Educational Media Foundation. Now, Powell has reached a deal to sell the remaining three FMs, with Kalil & Co. as the broker of record.
Scripps Goes For A SoFla Duopoly
For 57 years, South Floridians have enjoyed NBC programming on a giant of the airwaves, The E.W. Scripps Co.'s West Palm Beach-based WPTV-5. Now, thanks to rule changes made by the Commission 13 months ago, it's about to gain a sibling.
Wall Street Bloodbath Impacts Media Issues
U.S. financial markets tumbled ahead of a Federal holiday closure Wednesday, in observance of the funeral of former President George H.W. Bush. The Dow was off 3.1%, while Nasdaq was down 3.8%. Most radio and TV companies were also in decline.
Urban One’s ‘Tender’ Credit Call
The parent company of Radio One, Reach Media and TV One on Tuesday flipped the switch on a cash tender offer tied to its outstanding 9.25% Senior Subordinated Notes due 2020. At the same time, it is entering into a new credit agreement that allows it to borrow millions of dollars via unsecured term loans.
Nexstar’s Premium Pluck: Tribune Media
On Sunday evening, Jews across the world celebrated the miracle of Hanukkah. In North Texas and in Chicago, a different sort of miracle had been finalized, and leaked to news organization Reuters. Nexstar Media Group has just accomplished something Sinclair Broadcast Group was unable to do.
Is iHeart’s Combatant Creditor Quandary Overblown?
RBR+TVBR on Friday spoke with a senior legal analyst at financial research firm Debtwire who questioned whether or not iHeartMedia's Dec. 11 plan confirmation hearing will go in the company's favor. Could the analyst's concerns be for naught?
TEGNA’s Twelve-Hour DISH Drop
At 3:18am Saturday a war of words commenced between one of the nation's fiercest combatants of retransmission fee increases and the owner of 47 television stations erupted. A big retrans dispute was ready to be waged. By lunchtime, it was all over.
Last Lights Out For USTN
It's official: RBR+TVBR has learned that US Traffic Network (USTN) is ceasing all of its operations, following rush hour today. While the fiscally troubled company has already closed down its radio unit, it had kept its TV business going.
Does iHeart Have A Solid Plan?
Dec. 11, 2018, will be a very important day for iHeartMedia. On that date is the company's plan confirmation hearing. If the plan gets court approval, a "new" iHeart will be born. But, what if that doesn't happen? It's a possibility, says a senior legal analyst at financial research firm Debtwire.