the HOT List

A Malvern, Pa.-based company that connects businesses with on-air, online and on-the-go traffic technology and provides local content, traffic information, advertising, and interactive marketplace solutions to media partners and businesses nationwide played a key role in Entercom's dip. This revelation came in a detailed account of what happened to the company in Q4 2017. "Lackluster" leadership at the former CBS Radio was also a factor, Entercom head David Field said.

The full integration of the former CBS Radio stations — and a big tax benefit — certainly helped to drive revenue for Entercom Communications in Q4 2017. Net revenue grew to $246.6 million, from $124.6 million, as the company's net income soared to $232.4 million ($2.58 per diluted share) from $10.5 million (27 cents). Unfortunately, Wall Street expected more from Entercom in Q4.

With tongues wagging following the company's decision not to move forward with an Initial Public Offering and the naming of Peter H. Lori as Univision’s CFO, replacing an individual brought on to bring the IPO to fruition, Univision Communications majority owner and chairman Haim Saban and the company's board on Wednesday evening "set the record straight" about its CEO. We've got an RBR+TVBR Observation on the matter, which addresses the multiple news organizations sticking to rumors about Randy Falco's departure.

With Sinclair Broadcast Group and Tribune Media agreeing to “resubmit or amend” their applications filed with the FCC in connection with MB Docket No. 17-179 — the formal name given to the review of Sinclair’s planned merger with Tribune, there's already some buzz regarding what changes have been made. A look at the FCC's database today suggests that it is abandoning its plan to own two of the top four stations in Pennsylvania's state capital.

Last Wednesday (2/28), Sinclair Broadcast Group's legal counsel was joined by Tribune Media's legal counsel in a conference call with five key members of the FCC's Media Bureau at the Commission's request. The subject: MB Docket No. 17-179 — the formal name given to the review of Sinclair's planned merger with Tribune. The result of the call: Sinclair and Tribune are to "resubmit or amend" their applications filed in connection with the proceeding.

The wait is over for investors and Hispanic market observers who have been asking about Univision Communications' Initial Public Offering plan, and when the company targeting Hispanic and millennial consumers will come to fruition. After a series of delays, there will be no IPO.

As expected, the U.S. House of Representatives on Tuesday (3/6) authorized additional funds for broadcasters repacking their channels following the recently concluded FCC incentive auction. H.R. 4986, the Repack Airwaves Yielding Better Access for Users of Modern Services, or RAY BAUM’S Act, passed by voice vote.

Urban One, the African American-focused media company that owns radio stations and a national radio arm, is also very much in the television business, thanks to its TV One cable channel. If it weren't for that, Urban One would be absent what became in Q4 its biggest revenue generator, as TV One again eclipsed Radio One. While both segments were down, TV One's decline was far smaller.

It was the intention of Cumulus Media to acquire two radio stations in the Windy City from Merlin Media. However, Cumulus' financial difficulties led to the eventual dismantling of a deal that would have seen it obtain WKQX-FM "Q101" and WLUP-FM 97.9. Now, Merlin Media — the company led by noted radio industry veteran Randy Michaels — is selling WLUP. Cue up "Jesus Is Just Alright" — a switch to a noncommercial Christian Contemporary music format is coming for the storied Rocker. ​​​​

While media industry observers eagerly anticipated the weekend filing with the U.S. Securities and Exchange Commission of a Chapter 11 restructuring proposal from iHeartMedia, none had been made public as of 8am Monday (3/5). However, there is new news regarding the nation's biggest owner and operator of radio stations: It has bought itself 72 hours to deal with a $106 million interest payment it failed to make on February 1.

With hours to go before an anticipated Chapter 11 reorganization petition is finalized and approved, iHeartMedia has disclosed in an SEC filing what it calls its "attempt to harmonize the views that it has received directly from the various groups of noteholders, lenders and the company’s equity holders." Translation: A new term sheet is dangling in front of iHeart's lenders.

A pair of Asset Purchase Agreements were filed with the FCC on Wednesday, March 1, that in the eyes of the Commission are no different than any other. The stations' licenses are going from one party to another. Money is being exchanged. However, there is a caveat: Through a "Shared Services Agreement," the seller will still have a large level of control of the stations. Is this fair? The Ajit Pai-led FCC says yes. Under prior FCC Chairman Tom Wheeler, the likelihood of these spins passing muster with the Commission would have been far more risky.

As expected, two of Tribune Media's biggest TV properties are being sold by Sinclair Broadcast Group in order to stay within the federal government's 39% national ownership reach cap. Also as expected, the buyers are closely tied to Sinclair, which will essentially continue to operate the stations. The reason is simple: the respective buyers are closely intertwined with Sinclair.

Sinclair Broadcast Group investors went into sell mode immediately after Wednesday's Opening Bell on Wall Street. At the Closing Bell, Sinclair finished with a 6.2% drop in value, to $33.80. Why were stockholders skittish, even as the company appears ever-closer to its merger with Tribune Media and an announcement regarding affiliation agreements with FOX expected to come shortly? Total revenue was down in Q4, although net income was up.

The Attorneys General of Illinois, California, Iowa, Maine, Massachusetts, Pennsylvania, Rhode Island, and Virginia have filed comments with the FCC in response to a NPRM on the national television audience reach limit and the so-called "UHF discount." "As the chief consumer protection and law enforcement officers in our respective states, we are responsible for promoting and defending the public interest," they say in unison. They then politely asked the Commission to ditch the discount, and prevent any increase of the reach cap.