Entercom’s Equity-Powered ‘Kiss and Make Up’ With USTN
Just two months ago, Entercom's head revealed that US Traffic Network was in severe financial difficulty and directly responsible for the radio company's dip in Q4 2017 pro forma revenue. David Field called it a short-term issue. He was right: USTN and Entercom have renewed their vows — and struck an equity partnership.
Improved EBITDA Can’t Mask One Tough Quarter
Urban One President/CEO Alfred Liggins III was "pleased" that his company focused on African American media consumers was able to grow its adjusted EBITDA in Q1 "despite some softness in the radio markets and ratings challenges at TV One." Other than that, it was a dismal first three months for the company, which late yesterday sold a Detroit radio station for nearly $13 million.
Cumulus To Emerge From Chapter 11 By The End Of Q2
Cumulus Media announced just after 5pm Tuesday that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the company’s Plan of Reorganization. Cumulus says its expects to emerge from Chapter 11 before the end of the quarter, after the conditions to the plan are satisfied.
Cumulus’ Top Trio Snags Big Bonus Checks
The take-home pay for President/CEO Mary Berner, EVP/Treasurer and CFO John Abbot, and SVP/General Counsel Richard Denning has been revealed. Each saw big bumps thanks to bonus payments awarded, based on the company's performance.
Is O’Rielly’s ‘Kid Vid’ Redo Request PTC Approved?
Republican FCC Commissioner Michael O'Rielly has made it clear that the Commission's rules pertaining to children's programming on broadcast TV stations are in need of serious changes -- or an outright deletion. Until now the Parents Television Council has been silent on O'Rielly's push for "KidVid" modernization. The PTC just spoke up, and it is concerned.
Gray: At Liberty To Expand In Virginia
One of the nation's biggest broadcast TV ownership companies has secured control of a pair of facilities in the Roanoke-Lynchburg, Va., market from a religious institution founded in 1971 by the late Rev. Dr. Jerry Falwell. One of the two TV stations relinquished its spectrum in the FCC incentive auction, and just happens to have a channel-sharing agreement with another Roanoke station -- owned by Gray.
Nexstar’s Big C-Suite Bonuses Revealed
On June 6, Nexstar shareholders will have their say on executive compensation. Ahead of the vote, the company's proxy statement provided full details on who earns what at the broadcast TV company. Of particular interest are the big bonus payments key company leaders will enjoy.
What’s Driving TV’s Revenue Riches In 2018?
BIA Advisory Services has just released its domestic U.S. local advertising forecast, and it says 2018 will be "a solid year" for the broadcast TV sector. How so? Blame it on politics, and that hand-held device you may be reading this message on.
Charter’s Spotty Spectrum: A Poor Q1 Sinks Stock
It's no secret that multichannel video programming distributors (MVPD) have a difficult road ahead in retaining and growing their subscriber base — a goal that is paramount in the quest for continued revenue and income increases. The challenges brought by over-the-top (OTT) choices and the ever-increasing threat of cord-cutting are not something Charter Communications will face in its future. It's facing them now, and investors revolted with a massive share sell-off on Friday (4/27).
O’Rielly Blasts FCC ALJ As ‘Rehabilitated’ Ex-Owner’s Buy Is Nixed
On May 24, 2012, a Form 345 filing was made with the FCC signaling the desire of Patrick Sullivan to sell a 185-watt FM translator in a large Alabama city to Lake Broadcasting for $1,000. While this deal appeared to be simple, the assignee made this a most difficult and time-consuming matter for the Commission. That's because Lake Broadcasting is an entity led by an individual who had his five licenses revoked in 2001 for criminal misconduct conducted between 1985 and 1990. The matter has been resolved, and Commissioner Michael O'Rielly had something to say about it.
Nielsen Shares Sink As Company Reports A Flat Q1
Nielsen shares have lost approximately 12.9% in the past 12 months, with a noticeable decline for the audience measurement company's stock seen since September 2016. A five-year low was seen on April 2. This could be matched, or surpassed, soon as Nielsen shares tumbled by 7% on Thursday, following the company's release of a subpar Q1 earnings report.
Entercom’s Love Letter From Kippington Capital Management
It's nice to be loved. It's even sweeter when that adoration comes from a Wall Street player, and you are a publicly traded radio broadcasting company. The object of Kippington Capital Management's affection? Entercom Communications.
Another Solid Quarter For Media and Telecom Deals? Sort Of
PwC has just released its first-quarter 2018 deals insight report on the media and telecom industries, along with its prognostication of what the remainder of the year will portend for transactions. Some may find the PwC report surprising. While Q1 seemed rather quiet for brokers, PwC concludes deal volume hit another eight-year high. It's all based on their interpretation of the media and telecom sector.
A Big PBS Merger Brings Programming Back To KCET
In a move perhaps fueled by the FCC's spectrum auction, Los Angeles-based KCET-28 will once again be tied to PBS after going independent on New Year's Day 2011. KCET's parent company has entered into a merger with PBS SoCal —a recipient of hundreds of millions of dollars in the FCC's incentive auction.
E-pif Extension Granted For 39 Radio Stations
The FCC, as part of its "modernization" efforts championed by Republican Chairman Ajit Pai, required every licensed broadcast and cable TV station and every licensed radio station to have an online public inspection file activated by March 1. Fifteen requests, filed on behalf of 39 radio stations, for additional time were filed with the Commission. These stations have just been granted an extension.