Digital Prowess, BMI Sale Cash Power Audacy In Q2
How did the nation's second-largest audio content creation and distribution company perform in Q2? The company's total Radio revenues decreased by 3%. Yet, Audacy swung to net income from a hefty Q2 2023 net loss during the three-month period ending June 30.
A Wider Loss On Bigger Expenses For iHeartMedia
With pressure growing on the nation's No. 1 owner of radio stations to tackle bondholder repayments due in 2026, iHeartMedia saw its expenses increase year-over-year at a level that offset revenue improvement of 1%. As such, the company's net loss was nearly $910 million in Q2.
Audacy’s ‘ALT’ Endings: First Orlando, Now K.C.
On August 1, a Daytona Beach radio station serving the Orlando market with Alternative rock music as "FM 101.9" since the end of 2017 dropped the format — a favorite of the parent company's CEO. Now, Audacy Inc. is preparing to end Alternative music on a Kansas City FM.
Saga Beats The Street On EPS Despite Soft Q2
The last pure-play radio broadcasting company in the U.S. to be publicly traded has chimed in with its second quarter results. And, like its peers, slightly lower net revenue, coupled with slightly higher station operating expenses, led to a profit decline during the period for Saga Communications.
Salem Shares Hit Record Low After Q2 Earnings Release
Salem Media Group shares may trade with an average volume of just 27,574 shares, but its value is one indicator of how the company focused on Christian-themed and conservative secular spoken word audio content is performing from a fiscal perspective. How is that performance?
Beasley Names Three RVPs, Creating New Corporate Roles
Until now, publicly traded Beasley Media Group has not had the role of Regional Vice President across its broadcast radio properties. That has just changed, with the promotion of three individuals in the Northeast, the Southeast and in Southwest Florida, respectively.
Patriot Games Continue As Audacy’s WEEI Inks Fresh Deal
The new New England Patriots agreement includes the continuation of “Patriots Monday” and “Patriots Friday” programming, featuring first-year Patriots Head Coach Jerod Mayo and team players on WEEI Radio. This year marks the 30th season of the partnership between WEEI and the Patriots.
NAB Seeks Evidence-Based Judgement Over FM Duplication Rule
The NAB has formally requested to the FCC that it reconsider its recent decision to reinstate the FM Duplication Rule. The FCC’s decision, finalized in a June 2024 order, has sparked controversy and criticism from stakeholders within radio.
![Panama City Beach, Fla., prior to Hurricane Michael's arrival [Photo: Adam R Jacobson]](https://rbr.com/wp-content/uploads/011_8A-150x120.jpg "RoRo Go-Go: Florida Panhandle FM Sold To Religious Non-Comm")
RoRo Go-Go: Florida Panhandle FM Sold To Religious Non-Comm
A licensee known for its Christian-themed audio brands known as "The Joy FM" and "HIS Radio" has agreed to purchase a Panama City Beach radio station that was left for dead by a former owner after Hurricane Michael slammed the Florida Panhandle some six years ago.
Salem Spins ‘The Fish’ In Little Rock
Salem Media Group has decided to part ways with a Class C3 FM serving the Little Rock market with Contemporary Christian Music as "The Fish." Who's the buyer? It's a broadcast ministry known for "The Voice of Encouragement" and sibling brand "Lift Worship," each serving Tyler-Longview, Tex.
FCC Audio Division OKs Canadian Foreign Ownership Ask
In late October 2023, the FCC's Media Bureau moved ahead with a pleading cycle that solicited input on a Petition for Declaratory Ruling allowing a Canadian citizen to hold 100% attributable interest in a Seattle AM. Al Shuldiner, the Audio Division Chief, has approved the request.
Key Analyst Reduces Price Target on Fading SiriusXM Stock
Sirius XM has reported its Q2 2024 results, and Pivotal Research Group's Jeffrey Wlodarczak chimed in with his take on what are "mixed" results. While Sirius XM saw "modestly better than expected self-pay subscriber losses," he reduced his 2025 subscriber forecasts.
Bronx Bomber: Bachata FM Pirate Gets FCC Fine Affirmed
In mid-November 2023, the operator of an unlicensed radio station at 105.7 MHz, audible in parts of The Bronx, was handed a proposed fine of more than $2 million for his Spanish-language illegal operation branded as "La Mia Radio." The FCC has affirmed that suggested fine.
Are iHeartMedia Executives Meeting With PIMCO?
According to "people familiar with the situation" who spoke with a Bloomberg News reporter known for her prior work covering restructuring talks for Debtwire, iHeartMedia has started confidential conversations with a collection of debtholders led by Pacific Investment Management Co.
Cumulus Kicks Off The Q2 Earnings Parade On Friday
Cumulus Media, the audio content creation and distribution company that in addition to owning AM and FM radio stations is the parent of Westwood One, will have the honors of being the first broadcast media company with publicly traded stock to reveal its second quarter earnings results.