the HOT List

How did the NYSE-traded operation led by CEO Bill Wilson, Chief Operating Officer Erik Hellum and CFO Stu Rosenstein perform in Q2? Net revenue sailed past Wall Street estimates as non-cash impairment charges impacted the company's overall numbers.

A licensee formerly known as LeSEA Broadcasting founded in 1972 by Lester Sumrall has largely been known for Christian-themed programming. Now, the company is bringing one of the biggest Spanish-language networks in the U.S. to two of its TV stations. 

On November 7, 2022, a Class A FM serving a portion of Pennsylvania went silent, as the station's license expired due to a lack of its renewal. Nine days later, the station's license was reinstated. Now, this station is being acquired by Seven Mountains Media, adding to its Keystone State stable.

Over the last 18 months, the founder of 5-Hour Energy, Manoj Bhargava, emerged as one of the most significant new buyers of broadcast television stations in the U.S., with Vince Bodiford in the CEO role. Now, in a surprising and sudden move, their NewsNet operation has folded.

RBR+TVBR has independently confirmed the sale of a group of radio stations operating under the Desert Valley Media Group banner to a newly formed entity led by Mike Cutchall. This will see his group take ownership of "The Wow Factor, "Hot 97.5/103.9," and "Power 98.3" in the Phoenix market. Kalil & Co. brokered the deal.

For Cumulus Media, a look back at the three-month period ending June 30 yielded results that came in behind where the audio content creation and distribution company was a year ago. But, did the company led by CEO Mary Berner beat the Street? No, leading investors to sell "CMLS" shares.

The placement of broadband connectivity under Title II classification, commonly known as "net neutrality," will not be enforced as an Ohio Federal Appeals Court decides whether to jettison the FCC's return of the rules after the Pai Commission wiped them clean.

Graham Holdings Co. has released its Q2 2024 earnings, and it enjoyed a 7% revenue rise during the three-month period. That gain is thanks to gains at its education, healthcare and automotive divisions.  The revenue jump could have been higher — had it not been for TV segment weakness.

The Walt Disney Company-owned ESPN, FOX and Warner Bros. Discovery, who have come together to launch a forthcoming standalone streaming service through a joint venture, has revealed its "launch price." It comes out to more than $500 per year, but some think it's a good value.

First, it was a Georgia-centric Peachtree Sports Network. Now, Gray Television is launching a similarly themed broadcast entity focused on the teams and leagues of particular interest to viewers across South Carolina.

In two markets where Nexstar owns stations, affiliation shifts were revealed in May. On July 30, it became known that two CBS News & Stations properties would be grabbing the CW. Now, the fate of three remaining markets became known, with NPG, Sinclair and TEGNA signing new deals.

New estimates from BIA Advisory Services indicate that local broadcast television stations enjoyed a whopping 22.5% increase in distribution revenue between 2020 and 2023, rising from $12.3 billion from MVPDs and vMVPDs to $15.1 billion.

A broadcast property that debuted Spanish-language TV programming in 1989 is being sold by the entity that owns such Los Angeles radio stations as "Power 106," with Kalil & Co. serving as the seller's broker. The buyer is an institution associated with the late L. Ron Hubbard.

Gray Television and SagamoreHill filed a joint Petition for Rulemaking that would effectively substitute one channel for another — twice — in a Table of TV Allotments adjustment for Lubbock, Tex. Getting FCC permission for the change would allow the companies to "swap" facilities, they say.

Another big bonus payout is coming to those who hold shares of Nexstar Media Group stock, as the company's Board of Directors has declared a quarterly cash dividend that repeats its first quarter investor reward. The board also said yes to a share buyback initiative.