the HOT List

The rumors are true: CBS Corp.'s Board of Directors on Thursday discussed the possibility of a merger with Viacom. Official word came after CBS's board approved a quarterly dividend on the company's stock of 18 cents per share. Both conversation pieces helped CBS see a healthy gain on Wall Street in Thursday's trading. Meanwhile, investors punished Meredith Corp. following its Q4 earnings release.

In the nation's 14th-largest market, one of the most-listened-to radio stations serving the region's Spanish-speaking Hispanic audience has long been KNAI-FM 88.3, a noncommerical Class C1 facility that has been the affiliate of the Cesar Chávez Foundation's regional Mexican "La Campesina Network." Unfortunately, KNAI and a sister station in the San Joaquin Valley of California didn't play by the FCC's rules when it came to the Commission's underwriting laws. To settle the matter, the Foundation has entered into a Consent Decree with the Enforcement Bureau that involves a compliance plan and a record-breaking civil penalty due to the U.S. Treasury.

Is iHeartMedia walking down the same path as Cumulus Media? The nation's No. 1 radio broadcasting company's iHeartCommunications arm has elected not to make the cash interest payment of $106 million due today (2/1) with respect to its outstanding Senior Notes due 2021. This gives iHeart a 30-day grace period until an event of default is triggered — and could portend to bigger things by the end of February for the nation's No. 1 radio broadcasting company.

With its stock languishing below $6 since October 2017 and pressure to control costs at a heightened state, Oakland, Calif.-based streaming audio pioneer Pandora on Wednesday initiated what it calls "an organizational structuring designed to prioritize its strategic growth initiatives and optimize overall business performance." Job cuts are on the way.

CBS Corp. no longer has to make excuses to marketers and advertisers about lackluster ratings for Thursday Night Football telecasts. Starting with the 2018 season, that will become the responsibility of 21st Century Fox for the next five years. Wall Street isn't too happy with the news: Fox stock was off by nearly 4% in Wednesday's trading.

What first surfaced as a rumor in a radio industry trade publication this morning turned into reality just before the lunch hour on Wall Street. Emmis Communications is exiting one of its most profitable markets, and two big companies are involved.

Looking for ratings growth at your TV station's local news operation? Are additional advertisers and increased revenue of interest to your stations' sales teams? There's a tool that can bring both of these things to a TV station, via the newsroom.  Thank the rise of social media for serving as the new gauge of news timeliness. What to do? Daniel Anstandig and his team at Futuri Media believes he has the answer.

The big ol' Weed Wacker at 445 12th Street SW in Washington, D.C., is getting charged up for what Republican FCC Commissioner Michael O'Rielly has assured will be an event that impacts children and families. As far as he's concerned, the Commission's requirements regarding educational and informational children's programming are "ineffective and burdensome." O'Rielly expressed his thoughts in a Friday blog post we've just digested, and we're not shy to offer a RBR+TVBR Observation questioning O'Rielly for this suggestion just as Next Gen TV is poised to make UHF and VHF far more relevant again.

The Securities and Exchange Commission (SEC) is a statutory party to Cumulus Media's Chapter 11 reorganization proceedings, underway in a New York Federal Bankruptcy Court. As such, it has voiced its objection to Cumulus' Disclosure Statement for its Joint Plan of Reorganization, and to the confirmation of its reorganization plan. Meanwhile, an "amended rejected contracts list" has been filed by Cumulus with the court.

The broadcast media industry's chief lobbying and advocacy group on Thursday night filed motions to intervene in Prometheus Radio Project’s challenge to the FCC’s media ownership reform order. The motions were filed with the Third Circuit Court of Appeals, and would allow the NAB — a non-party — to join the litigation without the permission of the litigants.

The rumors are rampant. Wall Street is talking. Now, Reuters is fueling the flames. CBS Corp. and Viacom are discussing a reunification of the two companies, the news agency reported following the Closing Bell on Wall Street on Thursday.

With 34 radio stations across eight mid-sized markets, the FMs and handful of AMs now up for sale by The E.W. Scripps Co. will likely attract a wide array of potential suitors. Will one company swoop in to buy all of the stations? One top media broker tells RBR+TVBR that's not likely.

In a press release posted to the company website this morning, The E.W. Scripps Co. announced it is "creating a stronger, more streamlined and higher-performing company through comprehensive restructuring and cost reductions expected to yield more than $30 million in annual cost savings." It then revealed that it plans to sell its 34 radio stations across the U.S. and has retained Tucson, Ariz.-based Kalil & Co., Inc. to handle the process.

Entercom. Sinclair Broadcast Group. Beasley Media Group. Thanks to these entities, big deals and big money are fueling the media merger and acquisition marketplace, a just-released PwC report reviewing activity in Q4 finds. Given the robust deal market in 2017, how does it expect 2018 to fare?

On Jan. 24, 2017, Republican FCC Commissioner Ajit Pai ascended to the role of Chairman, succeeding Democrat Tom Wheeler. In doing so, he embarked on a mission — crafted with much input from the White House and the conservative think-tank American Enterprise Institute — to loosen regulations for broadcast media companies. What exactly are Pai's achievements on the one-year anniversary of his first full day in office? He was kind enough to distribute an eight-page PDF that answers any question you may have.