Legacy

An entity that describes itself as “a publicly traded diversified holding company which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders” is growing again. This time, it has acquired a pair of low-power TV stations in the Sunshine State, and it is our "Mega"-sized deal in RBR+TVBR's TRANSACTIONS TODAY. 

On behalf of everyone at Streamline Publishing and the Radio + Television Business Report, we wish you and your family a very happy Thanksgiving. The daily RBR+TVBR Headlines e-mail will resume distribution on Monday, Nov. 27. Breaking news bulletins will appear, if necessary, to provide you with access to the latest news of importance to broadcast media industry leaders.

It's looking more and more like a static-filled Turkey Day and, possibly Christmas, for DISH Network subscribers who wish to watch CBS O&Os, select affiliates of The CW and a trio of MVPD-distributed networks. While CBS says it "obviously want[s] to strike a fair deal with DISH as soon as possible — we remain far apart on terms." We've got an RBR+TVBR Observation on the matter.

CBS Corp. started the day mired in a potentially ugly battle with DISH Network, which this morning pulled the plug on CBS O&Os, several affiliates of The CW and three MVPD-distributed networks due to a bitter retransmission dispute. But, that's not the only new news involving CBS. Its Board of Directors just declared a healthy quarterly dividend, as the final numbers for the CBS Radio share exchange were released. That went well: the share exchange offer was oversubscribed.

The spin cycle is set to high, but no matter how you look at it, DISH subscribers are in the dark if they want to tune to CBS O&Os, several affiliates of The CW, and three specialty networks.

After more than a month of negotiations that left Hispanic Verizon Fios customers in the dark, the MVPD has agreed to a new retransmission fee agreement with Univision Communications. As a result, all Univision-owned stations have been restored to Fios lineups in all impacted markets.

Led by Democratic Senators Maria Cantwell of Washington and Tom Udall of New Mexico, 15 Senators are looking for a last-minute blockade of a vote set for tomorrow's November Open Meeting that is expected to pass by a 3-2 margin. This vote, the GOP-led Commission, argues, "updates the Commission's broadcast ownership and attribution rules to reflect the current media marketplace." Democrats say otherwise, and believe the FCC is assisting Sinclair in its planned merger with Tribune Media. That's why they want a recusal, and the NAB says no way.

The broadcast industry provider of fiber termination and custom fiber solutions has hired Joe Zajac as its next Business Development Manager. In that role, Zajac will work to expand Joseph Electronics' reach in the broadcast market and create new opportunities in other vertical markets.

Monroe Electronics subsidiary Digital Alert Systems (DAS) has reached a technology partnership that integrates its EAS-Net communications software with NVerzion's CloudNine video server system. As a result, users can benefit from a direct IP link between the DAS DASDEC emergency messaging platform and NVerzion's video servers to handle Emergency Alert Systems (EAS) and Common Alerting Protocol (CAP) messages.

Broadcast radio and TV technology player The Telos Alliance, parent company to Telos, Omnia, Axia, Linear Acoustic, 25-Seven, and Minnetonka, has selected its new Omnia US Sales Manager for Radio Processing. It's choice: Paul Kriegler.

Group One has appointed the former Director of U.S. territory sales for Harman International – Studer as its new Regional Sales Manager for the Calrec Audio line of digital consoles. He will be based in San Francisco.

Wedel Software and Kansas-based radio broadcasting company Rocking M Media have entered into a licensing agreement to install the MediaSales Suite to manage multi-media business, including 31 radio stations, four networks, and an advertising signage division.

"We did what we're allowed to do." That's pretty much what the FCC told the U.S. Court of Appeals' D.C. Circuit on Tuesday (11/7) with respect to the much-debated restoration of its "UHF Discount," arguing that it did so with full abidance of Federal laws.

Is David Field the radio industry's new King of the Mountain? Many on Wall Street, along with several industry observers RBR+TVBR has spoken with in 2017, say yes. Entercom's Q3 earnings results also suggest that the company's President/CEO is not only a strong leader for the company merging with CBS Radio in less than three weeks, but also a strong industry champion that can loudly tout the enduring ROI abilities of AM, FM and its digital components.

The nation's No. 2 radio broadcasting company by number of stations revealed in a Securities & Exchange Commission filing on Wednesday that a scheduled interest payment of roughly $23.6 million on its 7.75% Senior Notes due 2019 — planned for payment on Nov. 1 — wasn't paid. It's not a default, but the clock is ticking.