Moody’s downgrades LIN, and isn’t yet finished
LIN TV is the latest broadcaster to have its credit ratings reduced by Moody’s Investors Service. The downgrade affects approximately $1.1 billion in debt....
Sillerman walks away from buyout
The troubled credit markets have killed the long-pending deal for Bob Sillerman and Simon Fuller to acquire most of assets of CKX Inc. for $12 per share. The move is hardly a surprise
Circuit City announces store closing plan
In light of the deteriorating economy Circuit City Stores has decided to take restructuring actions immediately, including closing 155 domestic stores in 12 markets,...
LevelVision completes first Arbitron audience study; joins OVAB
On the heels of completing its first Arbitron audience measurement study, digital signage company LevelVision announced their membership in the Out-of-Home Video Advertising Bureau...
Analysts ponder CBS
After digesting the Q3 report from CBS Corporation, a couple of analysts are out with notes to clients that the company’s dividend appears to be intact for the time being. But with ad revenues under pressure
Stations missed Chase Utley’s F-Bomb in Philly
Chase Utley, World Series Champs Philadelphia Phillies second baseman, dropped of the F-bomb Friday on live TV and radio in that market. After proclaiming...
Lee Enterprises suspends dividend
The one-time TV group owner is facing tough going for its remaining business – newspapers. Lee Enterprises struck a new credit agreement with its...
Dingell urges restraint on Election Night
Powerful Rep. John Dingell has fired off letters to seven key broadcast executives urging them to take it easy with any proclamations of victory...
Prime action at MNF halftime
Hopefully there will not be any costume reveals or any other such shenanigans – or perhaps hopefully there will be, if it can change...
More conversion by Sirius XM
Sirius XM is again swapping stock for bonds. The satellite radio company says it has agreed to exchange 65,193,000 shares of stock for $19.5...
SBS reduces debt a bit
Spanish Broadcasting System announced a letter agreement with BC Media Funding Company to buy back a non-interest bearing promissory note due in January for...
Bean counters on edge
A new survey out from Financial Executives International (FEI) and BaruchCollege's Zicklin School of Business finds a decided lack of optimism among the nation’s...
Analyst: Severe ad recession is unavoidable
“A deeper, wider, and more severe slump is upon us, pressured by discontinuous auto and retail marketing, and lapsing business investment,” says Lee Westerfield at BMO Capital Markets
Redstone reiterates no sale
Chairman Sumner Redstone began CBS’ quarterly conference call by reviewing how his family company, National Amusements Inc. (NAI), had sold $233 million of CBS and Viacom stock to shore up
Belo reworks its debt
Belo Corporation announced that it had drawn $364 million under its revolving credit facility. The funds will be used to retire $350 million in...