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.
Fubo Goes To Court To Stop ‘Hulu For Sports’ Launch
FuboTV, the "sports first" vMVPD that sees ex-Wall Street financial analyst John Janedis serve as its CFO has filed a lawsuit in a New York federal district court against Warner Bros. Discovery, Disney and FOX. It's a move designed to put a stop to its plans to launch a SVOD platform focused on sports.
TV Viewing Hits Four-Year High in January
According to Nielsen, television viewing levels soared during the first month of 2024, bolstered by "an abundance of high-volume streaming days, NFL playoffs, colder temperatures, and the long-awaited return of scripted broadcast programs."
NAB Lobbies Gómez Staffers On Key Radio Industry Issues
The SVP/Deputy General Counsel of the National Association of Broadcasters and the NAB’s Associate General Counsel spent last Tuesday chatting with two staff members in the office of the FCC’s newest Commissioner about “various issues” tied to four rulemaking proceedings.
Les Moonves Settles LAPD Investigation Interference Claim
Les Moonves is back in the news. The former CBS head has agreed to pay a fine to the City of Los Angeles for violations of its ethics code. What did he do? Moonves was found to have chatted in an inappropriate manner with an ex-LAPD captain about a sexual assault claim against him.
KDKA’s NextGen Plan To Keep Radio Relevant
In Pittsburgh, one of the first stations licensed for broadcast is teaming up with a local institution of higher learning by "redefining radio" with a new overnight show hosted by students. It demonstrates how a medium more than 100 years old is making strides to keep it future-proof.