W-A-B-Cheap? Deal Valuation ‘No Surprise’ To Brokers
On Thursday , one of the most famous radio stations in history — WABC — was sold to a local businessman for $12.5 million. Seems like a bargain, no? Two brokers shrug that it's simply the new normal for AM radio stations -- regardless of their rich history or past value.
It’s Official: Cox Radio, Gamut, CoxReps Going To Apollo
On March 1, RBR+TVBR first reported that, citing multiple sources, Apollo Global Management has been offered majority control of Cox Media Group's radio assets. Cox Media Group EVP Bill Hendrich reportedly conducted a company-wide Town Hall meeting the day before, but CMG remained mum — until now.
Entercom’s Wrong-Way Stock Trajectory
On April 30, it appeared as if ETM would soon climb to above $7 a share, continuing a rebound from a sharp downturn that began in late February and concluded in late March. With Q2 set to end Friday, Entercom stock is now struggling to find the $6 mark.
Prairie Winds Blow Dakotas Cluster Away From Armada
Midway between Fargo and Sioux Falls, S.D., along Interstate 29, is the Watertown-Milbank area. It's home to two AMs, three FMs and two FM translators giving those AMs a bit of "revitalization." Now, these properties are trading hands, with a local buyer awaiting closing.
A Radio Brand’s ‘No Talk Day’: Awareness, Aussie Style
On July 1, on a cool winter's day in Australia, Southern Cross Austereo will be muting everything but the music on its national Rock brand, Triple M: no shows, no announcers, no news, no traffic and no ads. There's a powerful reason why, and it's getting lots of positive attention.
Security, Privacy Concerns Cloud Smart Speaker Ubiquity
The Smart Audio Report Spring 2019 survey, produced by Edison Research in partnership with NPR, finds that seven-in-10 smart speaker owners use their device daily despite security and privacy concerns. These concerns are the main reason why non-owners don't have them.
Farr and Away: A New Backyard For Pennsylvania Cluster
Here's a deal that we guarantee is no typo: Backyard Broadcasting PA LLC is selling a group of stations in the Williamsport, Pa., area to Backyard Broadcasting of Pennsylvania LLC. This deal, brokered by Kalil & Co., involves five FMs, an AM, and an FM translator.
NYF Radio Awards Reveals 2019 Winners
Since 1982, New York Festivals Radio Awards have saluted the best in global audio content. We now know who the 2019 winners are, and among them is Westwood One and a famed CBC journalist who has hosted Radio One news magazine The Current since 2002.
Is Saga’s Current Stock Price A New Normal?
It's a lightly traded issue on Nasdaq. Still, Saga Communications shares are considered to be "near fair value" by analysts, Yahoo! Finance notes. Is that less than stellar news, as SGA continues to struggle with a recovery from a five-year low?
Additional ‘GMO A Classic Choice For Northern Minn.
Northeast of Duluth, Minn., is a 63kw FM licensed to Grand Marais, Minn., atop Lutsen Mountain. After a period of silence due to transmitter problems, it is now simulcasting a Classic Rocker some 180 miles away. Thank this station's new owner for bringing it back to life.
Carr Talks, Warshaw Woos At Federalist Society Affair
How does Brendan Carr feel about "Ownership Limits in an Increasingly Competitive Audio Marketplace"? Attendees of a Tuesday Federalist Society luncheon may get his first public comments on the subject, along with insight from one key industry proponent of rule "modernization."
Pennsylvania AM Saved From Darkness By Twilight
One month ago, a Class B AM serving Reading, Pa., revealed that it would be signing off the air forever, ending nearly 90 years of service to this slice of the Keystone State. On Thursday, a white knight arrived to save WEEU-AM from eternal darkness. It's all thanks to Twilight Broadcasting.
What The Dickeys Could Have Done Differently At Cumulus
The radio industry is chatting over an appearance at The Conclave in Minneapolis by former Cumulus Media CEO Lew Dickey Jr. and his brother, John Dickey. The Dickeys had some interesting things to say about how, in retrospect, they would have done things a bit differently.
Pleading Cycle Set For Multimedios Ownership Ask
In April 2019, one of the most significant foreign ownership petitions to arrive at the FCC saw a Mexican multimedia giant file the paperwork necessary to gain full control of four stations once a part of Border Media Partners’ 33-station stable. Now, the public will have their say in the matter.
Townsquare Opts For A New Accounting Firm
Since Jan. 31, 2019, Bill Wilson has been the lone CEO. As such, it may not be too surprising to see Townsquare Media make a change with certain corporate-level needs. On June 13, such a change came, with Townsquare naming a new independent registered public accounting firm.