The Impairment Change: Why A Company May Take One
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.
Net Revenue Surges In Q2 For Salem, With A Strong Q3 Ahead
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.
The InFOCUS Podcast: Cumulus’ Q2 ’22 Earnings Review
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 Dwarfs Radio, TV Again For Entravision
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?
Cumulus’s Q2 Revenue Beats Street, With Net Income Swing
"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.
In Appreciation: Vin Scully Dies at Age 94
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.
Boston Tech Entrepreneur Sells ‘Podcast Discovery App’ to Audacy
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.
Dear Colleague: Support The ‘Local Radio Freedom Act’
A letter is circulating across the U.S. Senate courtesy of two colleagues, one Democrat and the other Republican, urging lawmakers in the Upper Body of Congress to add their names to the list of co-sponsors in support of the NAB-backed "Local Radio Freedom Act." Currently, 27 Senators are co-sponsoring the LRFA.
The InFOCUS Podcast: Townsquare Media’s Q2 ’22
What are the key discussion points for financial analysts covering Townsquare Media? We've condensed the company's Q2 2022 earnings call to focus on queries from Noble Capital Markets and Barrington Research, answered by Townsquare CEO Bill Wilson, and present them to you in this InFOCUS Podcast, presented by dot.FM. LISTEN HERE
Gores Group Completes Its GatesAir Sale
As the 2022 NAB Show began in Las Vegas, France-based Thomson Broadcast signed a definitive agreement to acquire GatesAir from an affiliate of The Gores Group. The transaction was expected to close in the second half of 2022. That's correct. In fact, the deal closed on August 1.
FCC Identifies Tentative Selectees for New NCE FM Stations
The FCC has adopted a Memorandum Opinion and Order considering 27 groups of mutually exclusive (MX) applications for new non-commercial FM station construction permits. As such, the Commission has tentatively selected one application from each MX Group for acceptance and future grant.
SiriusXM Lowered By A Key Media Analyst
SiriusXM released second quarter 2022 results that were "in line" with Pivotal Research Group Principal and Internet/Media/Communications Analyst Jeffrey Wlodarczak's assessment of the nation's satellite radio purveyor. It reiterated its full-year financial guidance while offering "an unsurprising reduction" in its 2022 self-pay net additions forecasts. How did Wlodarczak respond?
Rocking M Puts Properties On The Market With BK Emergence Sought
In late March, Doris and Monte Miller proceeded with a plan designed to ensure the family’s media holdings, which date to the 1880s, continue to generate profit while bringing luster back to a legacy that includes The A.Q. Miller Family School of Journalism and Mass Communications at Kansas State University, named after Monte’s father — Chapter 11 bankruptcy protection. It is now known that those media holdings will substantively shrink in number as the elder Millers seek to emerge from debtor-in-possession status.
Despite Revenue and ‘SOI’ Gains, Impairment Losses Hurt Beasley In Q2
As August began, so did the second quarter earnings season for broadcast media companies, putting all eyes on Beasley. Will the company be the trendsetter for audio content creation and distribution companies for the three-month period ending June 30? Perhaps the hopeful answer is "no."
GBS, NAB Ramp Up Their Opposing Views On ‘ZoneCasting’
The battle between GeoBroadcasting Solutions and the NAB over the permissive use of FM Boosters for program origination — crux to GBS' rollout of ZoneCasting technology — continued on Monday with letters in support of, and in opposition of, the plan presently under consideration at the FCC. Supporting the rule change: None other than a former Commissioner. Speaking against ZoneCasting: A House of Representatives Member who once hosted a syndicated Talk program airing weekends across Oklahoma.