Townsquare Media Names co-CEOs as Price ‘Transitions’ To New Role
The owner of radio stations in small and medium-sized markets on Monday afternoon promoted Bill Wilson and Dhruv Prasad to the respective roles of Co-Chief Executive Officer. As a result, Townsquare founder and CEO Steven Price is transitioning to the role of Executive Chairman of the Board. In addition, Erik Hellum has been appointed COO of Local Media.
Radio Leaders Remember Longtime Indy Exec Chris Wheat
The General Manager for three decades at such Indianapolis radio stations as iHeartRadio's Classic Rock WFBQ-FM 94.7, the former WRZX-FM 103.3 and Sports WNDE-AM 1260, died Thursday night. He was 66 years old. A memorial service will be held Oct. 23 in Cincinnati.
Susan Larkin Settles In To Entercom’s S.F. Cluster
The worst-kept secret at Entercom Communications has been confirmed: Susan Larkin, who in mid-July joined the company merging with CBS Radio, has settled in to Entercom's San Francisco-Oakland-San Jose cluster where she will continue as a Regional VP while also assuming VP/Market Manager duties previously held by Steve DiNardo.
Liberty Mutual Bumps Up Its Radio Spots
Liberty Mutual Insurance is back as a Top 10 advertiser at local radio. The insurer took 10th place in the most recent Media Monitors Radio Spot Ten report. Meanwhile, as seen with broadcast TV, GEICO is an important advertiser for AM and FM radio, as the brand moved up to second place.
FCC Orders Silence For Atlanta-area FM Translator… For Now
A 105-watt FM translator serving the northern portion of the Atlanta metropolitan area has been ordered by the FCC's Media Bureau to cease operations until it eliminates all interference to a co-channel Class A located just to the northeast. But, the translator's owner has won a battle with the FCC in that it successfully negated a reduction in power to just 10 watts.
Steve Newberry Joins NAB For EVP Post
Former NAB Joint Board Chairman Steve Newberry has another job aside from his role as President/CEO of a Kentucky-based radio broadcasting company. Newberry has just been tapped to serve as the EVP for Strategic Planning/Special Projects for the broadcast media industry’s biggest advocacy and lobbying group.
A Good Fiscal Q2 For Emmis, Behind The Top Lines
At first glance, one would believe that Emmis Communications had a disappointing fiscal Q2 2018. But, there's more to the story. Emmis can't compare year-over-year results because it no longer owns radio stations in Terre Haute, Ind., and in Los Angeles. The company has also shed much of its glossy publications. Pro forma, radio revenue is up in the just-completed quarter—good news for the company led by Jeff Smulyan.
Bonneville: Behind The Quiet Radio Company
With CBS Radio and Entercom revealing late Tuesday that 16 additional stations have been selected for divestment, industry chatter immediately turned to two companies as likely buyers. One, Hubbard Radio, has grown by leaps and bounds and is primed for further expansion after no recent acquisitions. The other is Bonneville International -- a radio station owner that, while smaller than in previous years, is profitable and easily able to grow, one veteran media broker notes.
Are Hubbard, Bonneville, And Four Others Secured CBS Spins?
Now that it's known which CBS Radio and Entercom properties have been earmarked for divestment, chatter concerning who is buying the stations has resulted in much speculation from brokers and radio observers. Most believe Hubbard Radio and Bonneville International are all but assured stations. But, there are swaps to be had, and one broker says another company is likely involved: iHeartMedia. Meanwhile, one Boston market veteran sees Cox Media Group building in Beantown.
A Victory Against Creditors For iHeart
A Texas state appeals court in San Antonio on Wednesday sided with iHeartMedia in ruling that a stock transfer was allowed under the terms of its loan agreements. The decision is a blow to creditors who attempted to declare a default on billions of dollars of the company's debt, Dow Jones Newswires reports.
Translator Tune-Ups Requested From The FCC
Three separate groups have asked the FCC to tweak their respective FM translators, so as to diminish interference from fully licensed co-channel FM stations. One of these owners is The Walt Disney Co. The other is a company that was forced to shut down a controversial translator in the Raleigh-Durham area, which made Lakes Media Network owner Tom Birch very, very happy.
Saga’s Renewed Strength On Wall Street
Investors are once again expressing confidence in a solid Wall Street performer that recently became the newest pure-play radio broadcasting company in the U.S. After a shaky summer that saw its shares dip from $49.25 on June 1 to $37.75 on July 24, Saga Communications is clawing back toward the $50 range.
NLRB Officially Issues Labor Complaint Against SBS/L.A.
Region 31 of the National Labor Relations Board (NLRB) in Los Angeles has made good on its September pledge to move forward with a formal complaint on unfair labor practice charges filed by SAG-AFTRA against Spanish Broadcasting System (SBS)‘s two FM radio stations in Southern California.
A Top D.C. Station Sells A Simulcast Partner
Three years ago, American University's NPR member station in Washington, D.C., closed on its acquisition of a station in Virginia that would serve as a simulcast partner, bringing its coverage to an ever-expanding region south of Quantico. Now, the school in Northwest Washington is retreating from the Old Dominion.
N.Y., Pittsburgh Sales Vets Get New Roles At iHeart
There are two individuals taking similarly big jobs in the Big Apple and the New York Tri-State Region for iHeartMedia. Concurrently, there's a new Regional SVP of Sales for iHeartMedia's Pittsburgh/West Virginia region, and she'll be starting hew new duties on Monday, Oct. 16.