Nexstar Sues FCC For Tightening TV Ownership Rules
The FCC’s prohibition on owning more than one top-four full-power network station in a DMA not only continues but now extends to digital multicast channels and LPTV stations, thanks to the 2018 Quadrennial Order approved at the end of 2023. Nexstar has responded with a lawsuit.
Dave Lougee: ‘TEGNA Is Back On Offense’
With its failed merger acquisition by Standard General well in the past, capital return commitment and sustained shareholder returns are among the many investor benefits TEGNA CEO Dave Lougee is touting. The news came as Q4 2023 revenue and EPS missed analysts' forecasts and Q1 is pacing down.
NAB To FCC: Toss Aside ‘Blackout’ Reporting NPRM
The Chief Legal Officer at the NAB has made it clear that the FCC should reject a proposal that would require MVPDs to notify the Commission when a broadcast signal is "blacked out" for 24 hours or more due to a retransmission consent impasse.
Sinclair Touts Q4 Results Versus Guidance Ahead Of Call
"Sinclair delivered a solid finish to 2023 with our local media segment meeting guidance and Tennis Channel exceeding expectations,” said President/CEO Chris Ripley. A swing to a net loss was seen, with consolidated EBITDA declining on higher expenses in Q4.
Nexstar Pushes Broadcast Model ‘Power’ On Lower Q4 Results
Nexstar Media Group couldn't overcome the challenges impacting ad-driven businesses as 2023 came to a close, with net revenue falling short of Wall Street analysts' expectations in the fourth quarter. That didn't stop company head Perry Sook from touting broadcast TV's power.
Cumulus Swaps New Debt For Old Debt, At A Price
Cumulus Media is agreeing to a two percentage-point hike in its interest rate. The benefit? The company led by CEO Mary Berner and CFO Frank López-Balboa will have until 2029 to repay the notes, the company shared on the same day it released its Q4 and full-year 2024 results.
Keystone State’s Senators Defend WTXF
Senators John Futterman and Bob Casey Jr. have written to the FCC in defense of FOX-owned WTXF-29 in Philadelphia. It's a potential game-changer in a battle waged by a group asserting the station repeatedly presented false news about the 2020 U.S. presidential election.
Kagan Outlines ‘Challenges and Opportunities’ For Broadcasters
A new 2024 analysis from S&P Global Market Intelligence's Kagan unit finds that the U.S. broadcast station industry is expected to reach $36.68 billion in total advertising revenue in 2024. This represents an 8.4% increase from $33.84 billion in 2023. Yet, the Automotive category will remain soft.
Carr: EEO Data Sharing Order ‘Violates the Constitution’
Brendan Carr slammed the 3-2 vote to reinstate a federal requirement for broadcasters to provide the U.S. government the race and gender of their employees. "Instead of confining today’s decision to lawful agency action, the FCC chooses a different course," he said. Nate Simington is also displeased.
MVPDs Poised To Get Their Own FCC Diversity Report
The Commission on a 3-2 party-line vote has moved ahead with a plan to create an identical requirement for multichannel video programming distributors ranging from cable TV suppliers to direct broadcast satellite companies.
FCC Brings Back An EEO Form For Broadcasters
Over the objections of the FCC's two Republicans, the FCC has reinstated a collection of workforce composition data from broadcasters on Form 395-B. The Rosenworcel Commission says it is also addressing a 2004 Petition for Reconsideration and seeks comment on Form 395-A data.
Mavericks Team Up With TEGNA For OTA Coverage
Add the company that owns WFAA-8 in Dallas-Fort Worth to the list of broadcast television station ownership groups that will be airing professional sports play-by-play across the final weeks of the 2023-2024 National Basketball Association regular season.
NewsNet’s Money Man Triggers Cumulus ‘Poison Pill’ Plan
Cumulus Media's plan to prevent a hostile takeover of the company led by Mary Berner appears to have been prompted by the desire of the man who has funded the growth of the NewsNet 24/7 television offering to snap up Cumulus shares — and perhaps gain full control.
FM Digital Power NPRM ‘Clarification’ Petition Sent To FCC
The NAB and HD Radio parent Xperi Corp. earlier this month submitted a "Petition for Clarification" with the FCC's Media Bureau in response to an "ambiguity" they discovered in a proposed rulemaking that would change the way a radio station determines if it can boost its HD Radio power.
A CFO Transition Will Soon Begin At Gray Television
Jim Ryan, who has consistently ranked among the top RBR+TVBR Broadcast Best Finance Leaders for the last several years, will actively train his successor between his April 1 arrival and the end of 2025. His eventual replacement has already been picked and is inbound from Wells Fargo Securities.