Entercom’s Six-Year Ditch: A Fresh Dip For Saggy Stock
Barack Obama was seeking a second term in office. The No. 1 song in the U.S. was "Call Me Maybe." And, Entercom shares were trading between $5.44 and $6.33 a share. Entercom just turned back the clock on Wall Street, with its shares now at their lowest closing price since July 2012.
CBS Shares Slide As Moonves Gets No Severance
It's been a bad December for many a media company's publicly traded stock. On Monday, CBS shares slid to a price last seen in October 2015. Then, the bomb dropped on Les Moonves: He's getting no severance.
ACA Joyous With Divestment Need For Gray-Raycom Marriage
The Department of Justice has given its approval of Gray's merger with Raycom Media. On Monday, a big voice for the smallest MVPDs voiced its pleasure to a DOJ requirement that, as expected, divestment of stations in nine markets is required for the deal to happen.
Carr Trouble In D.C. Could Also Delay Starks Sparks
Less than 24 hours after a key Senate Republican signaled he was willing to lift a block on a FCC confirmation vote for Geoffrey Starks and Brendan Carr as Commissioners, a leading Senate Democrat has stepped up by putting a fresh hold on the nomination -- jeopardizing continuation of Carr in his seat.
TeleSouth’s Questionable Biloxi Spin Follows Alpha Adds
Alpha Media has agreed to sell its stations in Biloxi, Miss., in a deal brokered by Kalil & Co. Terms of the deal became known early Friday, along with new information regarding an FM the buyer must spin to meet market ownership caps. The party getting the spun FM is closely related to Alpha's buyer.
Did Guggenheim Gag AURN, Black News To Death?
In May 2016, the majority owner of American Urban Radio Networks lost its share of the national radio entity. It went to Access.1 Communications, owned by Guggenheim Capital Partners. Some 2 1/2 years later, AURN's founding co-partner is assailing Guggenheim for snatching it away.
Another Major FCC Incentive Auction Closer To Fruition
If you believe in the power of 5G wireless connectivity, and how its roll-out may bring a consumer and advertiser renaissance for both broadcast radio and television, a FCC step taken Wednesday at its December Open Meeting will make you and those in your C-Suite very happy.
FCC Says Yes To Ion Kentucky Upgrade
The Chief of the Media Bureau's Video Division on Tuesday handed Ion Media an early Christmas gift of sorts. It will soon have a station with a signal with better over-the-air coverage of Kentucky's second-largest metropolitan area.
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.