Radio News

The nation's No. 1 creator and distributor of audio content has joined Audacy Corp. in being bestowed with a noteworthy downgrade of its stock, as Goldman Sachs has just lowered its rating on IHRT.

The lobbying efforts to get the FCC to say yes to a proposed rule that would permit program origination on FM boosters — the lynchpin to GeoBroadcast Solutions' "ZoneCasting" technology — have reached new heights, as the National Association of Black-Owned Broadcasters (NABOB) offered its "broad and deep support" of the proposal directly to the Commission's Chairwoman.

“We are excited with the progress we made against our strategic initiatives across the business.” Those are the words of Xperi CEO Jon Kirchner, commenting on the second quarter results for the parent company of such brands as HD Radio. How did Xperi perform, fiscally speaking, in the three-month period ending June 30?

He's the EVP and Secretary for Salem Media Group family member Inspiration Media. This explains why Salem legal head Christopher J. Henderson (pictured) on June 23 signed off on the sale of two Inspiration stations, both AM facilities. The properties are heading to two different owners, each seeking to gain audience in the Pacific Northwest's biggest market. 

Across multiple Q2 2022 earnings calls, broadcast media executives noted that there's an auto insurance specialist ad-sales slump taking hold. The category, more competitive than ever, has seen Liberty Mutual Insurance aggressively go after State Farm, Allstate and GEICO, as well as the top spot holder in the latest Media Monitors Spot Ten Radio report.

Audacy Corp., ahead of the release of its Q2 2022 earnings report, shared that it received notification from the New York Stock Exchange on August 1 that its Class A common stock is not in compliance with the NYSE’s continued listing standard. It has not been in compliance since June 28.

As CFO Sam Bush reviewed the "very good performance" for Saga Communications in the second quarter of 2022, he shared one particularly notable trait that puts the radio broadcasting pure-play in a unique position — political ad dollars have yet to make a significant impact for the publicly traded company. No matter. Saga's net operating revenue and net income both jumped ahead nicely, likely making lead shareholder Daniel Tisch and his Towerview LLC pleased.

The audio content creator and distributor that owns Cadence13 and Pineapple Street has partnered with CBS Sports Digital. The agreement makes Audacy the exclusive, multi-year ad sales and distribution partner for CBS Sports' network of sports podcasts.

In Q2 2022, both Townsquare Media Group and Beasley Media Group took an impairment charge. Beasley explains it did so "due to an increase in the discount rate used in the analyses to estimate the fair value of FCC licenses and goodwill in a rising interest rate environment." What exactly does that mean? One veteran media broker, along with BIA Advisory Services leaders, shared with RBR+TVBR in layman's terms exactly why an impairment charge would be taken.

There was little to slow down the company dedicated to serving consumers with Christian-themed and conservative talk radio programming in the second quarter. Net broadcast revenue grew, while net income surged. The third quarter guidance is also growth-focused.

RBR+TVBR's review of the broadcast media industry's second quarter 2022 earnings reports continues with audio highlights from Cumulus Media's Q2 2022 call, featuring CEO Mary Berner and CFO Frank López-Balboa. It's all here in this 20-minute InFOCUS Podcast, presented by dot.FM.  LISTEN HERE

Digital comprised the bulk of the Entravision Q2 '22 revenue results, growing by 34%. The growth was offset by a 5% drop in its Television arm, due to the reduction of assets in three markets. How did Entravision's Audio division perform?

"Our ability to deliver yet another quarter of strong results is testament both to the quality of our strategic plan and the discipline and relentlessness with which we implement it." That's a quote from Cumulus Media President/CEO Mary Berner, offered ahead of the company's second quarter 2022 earnings call on Wednesday.  Indeed, Cumulus' Q2 '22 results are highly positive.

Legendary Los Angeles Dodgers play-by-play announcer Vin Scully, who retired in 2016, has died. Tributes from across the entire sports world and broadcasting landscape came early Wednesday, including from the NAB.

According to the Boston Globe, the acquisition involves Moonbeam. English did not share with the newspaper how much he's pocketing from the spin. But, he told the newspaper it is a big enough sum to fund Boston Venture Studio’s operations for two years.