U.S. financial markets started the week off with up-and-down movement among broadcast media companies publicly trading stock on Wall Street.
Nexstar Media Group shares continue to roar upward, while Sinclair Broadcast Group‘s momentum was stopped on Monday.
Moving downward: radio industry leaders Entercom and Beasley Media Group.
In recent months, its become clear that Dish Network Corp. seeks to be a significant player in the rollout of 5G wireless technology, building on its prowess as a direct broadcast satellite (DBS) TV service provider that’s found itself in just a few retransmission consent battles with free-to-air TV station owners.
To further its 5G business aspirations, Dish has just locked in a long-term deal with the tower company founded by the late Steve Dodge.
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Gray Television on Friday reached a deal with a media company that until early 2019 was an active buyer of low-power TV stations.
With a CEO change less than a year ago and questions regarding its financing shrouding its operations in the months prior to that, this company is now looking to sell some of its assets.
Thus explains the deal with Gray that awaits FCC approval.
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With an appeal to the Ninth Circuit Federal Appeals Court fizzled and Federal District Court Judge Jesus Bernal the final arbiter in an ongoing legal battle involving Ed Stolz and its Royce International Broadcasting, a conclusion to the matter is now one step closer to fruition.
Court-appointed receiver Larry Patrick has filed paperwork with the FCC confirming that the buyer of the three ex-Royce FMs put into receivership by Bernal has assumed control of the stations.
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On February 1, one of the media industry’s biggest deals of some time — Gray Television‘s purchase of Quincy Media, Inc. — became known.
The Gray deal, valued at $925 million, sees the immediate divestment of Quincy stations in six markets where current local ownership rule limits prevent Gray from keeping the stations.
The transaction also sees Gray seeking a “failing station” waiver in an Indiana market and one Wisconsin market, with details of its plan filed as part of a publicly redacted 106-page filing made with the FCC.
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The NAB is offering a new online training course for radio stations containing critical information and guidelines for complying with FCC regulations.
The scenario-based training course tests participants’ understanding of acceptable practices for FCC regulation compliance. The guide outlines compliance related to content, advertising, station operation and management, copyright, and public files and reporting in four learning activities.
The Radio Rules! A Guide to FCC Regulations for Radio Stations course is now available on education.nab.org. According to the NAB, participants can gain an understanding of what content is appropriate to post on station websites and social media accounts; learn the rules governing alcohol, tobacco and gaming advertising; and hear brief synopses of topics including license renewal, public file documents, political advertising, underwriting and the Emergency Alert System (EAS).
The course will also provide participants with the legal definition for industry terms such as “payola,” “plugola,” “defamation,” “privacy,” “obscenity” and “indecency.”
Participants will receive a complimentary PDF copy of the NAB publication Radio Rules! A Guide to FCC Policies and Procedures for On-Air Staff. The guidebook also summarizes FCC rules and policies on topics related to programming and station operation for radio station personnel.
Stations may purchase the Radio Rules! A Guide to FCC Regulations for Radio Stations course directly on education.nab.org. For bulk or station purchasing options, contact Josh Miely at jmiely@nab.org.
Like many longtime radio industry standouts, WideOrbit Sales Manager for Radio Michelle King found a love for the business at an early age.
At age 16, she contacted a local radio station in her hometown of Lewiston, Idaho, inquiring about an internship. “I was in the high school radio class,” she said in a November 2018 interview. “It had a radio station, and the [Program Director] there led a team of interns at a local radio station. It was KMOK radio.”
Now, that radio station, along with two others plus an FM translator, are being sold.
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Some eight months ago, Philip Falcone exited as the face of an entity that had emerged as a big spender on low-power broadcast TV stations as part of a spectrum play.
Falcone’s departure from HC2 Holdings Inc., was shrouded in negative press, with accusations of loan defaults and the freezing of Falcone’s assets for reportedly failing to compensate his legal representatives.
Today, that’s all in the past. Falcone is now CEO of Sovryn Holdings, and it’s on a buying binge, new FCC documents show.
Sovryn is agreeing to a deal with Abraham Telecasting Company that will deliver Falcone’s new group KVVV-LD, at Channel 15 in Houston.
At present, KVVV is a Word Network-affiliated television. What KVVV’s future holds will soon be up to Falcone and his team, as Sovryn is paying $1.5 million for the station.
An $87,500 escrow deposit has been made. It’s being held by attorney Dan J. Alpert.
Representing Abraham as the broker in this transaction is Craig A. Ruark LLC, doing business as The Broadcast License Store.
This follows Sovryn’s $10 million acquisition, filed in February with the FCC, of two LPTVs in Los Angeles from NRJ TV III:
Indeed, there’s some increased activity for a brand that’s been a long-time friend of radio advertising.
While Indeed is the top paid advertiser using Spot Radio, according to the latest Media Monitors Spot Ten Radio report, a big-box retailer has stepped it up.
That would be Macy’s, which is now back in the Spot Ten thanks to nearly 35,000 spot plays as detected by iHeart-owned Media Monitors.
It bests activity by Babbel, GEICO and Pfizer, with Bank of America-owned Merrill back in the report.
It’s been a long time coming, but it appears automotive advertising dollars are returning to spot television just in time for springtime sales.
No less than three automotive brands can be found in the latest Media Monitors Spot Ten TV report, from iHeartMedia.
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TORONTO — If you thought recent mergers in the U.S. broadcast television industry were huge, hold on to your hats — and watch those Loonies and Toonies that are about to be exchanged between two of Canada’s largest media conglomerates.
Rogers Communications — founded 59 years ago by Ted Rogers with his establishment of CHFI-FM in Canada’s largest market — is merging with Shaw Communications in a deal valued at $20,840,000,000 in U.S. dollars.
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In the past 14 months, William Langer Gokey arranged a series of transactions that would ultimately lead to his departure as a radio station licensee in the Michigan market of Petoskey.
Now, Gokey has moved forward with the last of these six deals.
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WASHINGTON, D.C. — An FCC Enforcement Bureau Advisory related to obligations under the Communications Act to comply with the Sponsorship ID laws requiring disclosure of program sponsorship when airing paid-for programming has been dispatched.
Also released Friday by the Commission: a Public Notice as a reminder of the obligation to place sharing agreements into the public file.
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The National Association of Black Owned Broadcasters (NABOB), the Native American Journalists Association and the Radio Television Digital News Association (RTDNA) on Friday came together to submit a letter to the House Judiciary Subcommittee supporting the Journalism Competition and Preservation Act (JCPA).
This, if passed after several unsuccessful bill introductions, would create an antitrust safe harbor allowing news producers to negotiate with digital platforms over the carriage terms of their content.
Tied to the bill’s reintroduction in Congress was a Friday House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law hearing titled “Reviving Competition, Part 2: Saving the Free and Diverse Press.”
On behalf of the NAB, which supports the JCPA, Graham Media Group President/CEO Emily Barr testified before the Subcommittee.
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The FCC, under former Chairman Ajit Pai largely fueled by Democratic Commissioner Geoffrey Starks, opened the door to a potentially game-changing proposal for an industry desperate for its own addressable advertising solution.
Thanks to technology developed by GeoBroadcast Solutions, the company behind Maxxcasting — which brings “fringe” FM signals a city-grade contour — has developed a scheme that splits, if you will, an FM station by zones.
Proponents say it’s a great way for some radio broadcasters to better compete with local digital media. Opponents including the NAB and groups representing multicultural broadcasters warn such a plan could present harm to niche ethnic stations already struggling to survive while destroying an already fragile rate structure at bigger stations.
Whether broadcasting remains broad or can get narrower saw GeoBroadcastSolutions, the MMTC and NABOB all state their case to the Commission on Friday.
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New York – Management Consultant/Director
New York Market Radio Committee (NYMRC)
(Short Term)
The independent consultant/contractor will contract with the New York State Broadcasters Association, Inc. (NYSBA). The consultant will advise the NYSBA leadership and the New York Market Radio Committee (NYMRC) a subcommittee of NYSBA. The primary task is to advance the profile of the local radio industry in New York City. Ability to creatively and persuasively educate the advertising community about the continued influence of radio in Market #1 is essential to the role. Also the skill to engage with the press to tell the success story of FM/AM, along with the growing power of digital audio, is a key as well. The consultant will be responsible for developing overall strategy of elevating New York radio from ideation to execution. If you love and appreciate local radio and can become its biggest advocate, then this position is for you. This short term independent contract position is intended to last for six months, but may be extended.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Work closely with NYSBA leadership and the NYMRC to craft and execute a fully integrated communication plan to support local radio, including strong use of social platforms.
• Liaise with the leadership of the New York City based radio broadcasters to better understand their needs for industry advocacy.
• Identify key advertising industry relationships to build and/or strengthen bonds with local radio broadcasters.
• Interface with the press, both industry and general market, to communicate the compelling stories of impact from New York City radio. This includes proactively seeking public speaking engagements.
• Responsibly manage an operating budget provided by NYSBA to accomplish NYMRC’s goals efficiently.
• Manage the NYMRAC digital footprint, along with drafting press releases.
QUALIFICATIONS:
• Minimum seven (7) years’ experience in a leadership role in local media, preferably radio.
• Knowledge of New York City advertising, media, digital and communications landscape.
• Self-starter who is detailed orientated and can deftly manage multiple stakeholders to garner consensus.
• Creative problem solver, who can build a step by step solution to areas of focus.
• Comfortable presenting to and interacting directly with clients and media.
CONTRACT AMOUNT – Negotiable
REPLY DEADLINE – April 30, 2020
CONTACT – David L. Donovan, President NYSBA, 1805 Western Avenue Albany, NY 12203 at (518) 456-8888 or ddonovan@nysbroadcasters.org
It is the policy of the New York State Broadcasters Association, Inc. when contracting to comply with all federal, state and local law, policy, orders, rules and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, sexual orientation, age, disability or marital status.
JACKSONVILLE — The Market President for iHeartMedia’s Jacksonville, Fla., station group has just been elevated to a key corporate-level sales post at the audio media company.
It’s a role that will see her report to Multi-Market Partnerships President Julie Donohue, as this 20-year iHeart vet takes on the new role of SVP/Multicultural Sales for the Markets Group.
Taking the role: Nicky Sparrow.
With the promotion, Sparrow will lead multicultural ad sales revenue for the Markets Group division. “Sparrow will apply her deep knowledge of multicultural audiences and strong relationships with multicultural ad agencies and brands to build, drive, influence and execute strategic multicultural initiatives across the iHeartMedia sales organization,” iHeartMedia said.
Donohue commented, “Nicky continues to demonstrate strong leadership skills and with her expansive experience, expertise in sales and vision for creating an innovative, strategic focus on our multicultural audiences, I am fully confident she is the person to lead our multicultural sales efforts.”
Sparrow says she’s “thrilled for this next step in my career. I’ve been with iHeartMedia for more than 20 years, and I can’t wait to take my experience and strong relationships with partners and advertisers to further deliver and create innovative and effective multicultural opportunities for our consumers that will not only grow our portfolio of assets, but represent and truly connect with our diverse audiences.”
Sparrow began her career at iHeartMedia as a sales representative in 1999, in Tupelo, Ms. She later rose to General Sales Manager, and in 2005 moved to Tallahassee to become Director of Sales. In 2008, she was promoted to GSM of iHeart/Jacksonville. After shifting to Memphis in 2011 as DOS and, later, taking the SVP role for iHeart/New Orleans, she returned to Jacksonville in January 2016 to serve as Market President.
In November 1993, Gary Cocola — the Fresno-based digital multicast pioneer — acquired a low-power TV station in one of the fastest-growing markets in the U.S. West.
Now, Cocola is parting ways with the LPTV station, the Azteca América affiliate in this Mountain West locale.
The buyer? Lawrence Weissman and Ted Achilles own it.
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Fort Leonard Wood, Mo., is a major U.S. Armed Forces training site, nestled within the Ozarks of Mid-Missouri.
The closest city of size is St. Robert, and a Class C3 FM playing Adult Contemporary Country favorites is trading hands.
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The final three months of 2020 were robust for many publicly traded media companies. Political advertising, along with digital revenue growth, were key catalysts at the broadcast station owners experiencing growth in Q4.
Unfortunately, Saga Communications, the owner of radio stations in mid-sized and small markets across the U.S., can’t be included in the list of fourth-quarter media industry fiscal success stories.
With the COVID-19 pandemic’s wrath continuing to strangle Saga across its markets, net operating revenue was down to $28.75 million in Q4 2020, from $31.98 million a year ago.
The good news: Sequential quarterly revenue improvement is being seen, as the $28 million bests the Q3 2020 total by 19.1%, Saga says.
Saga didn’t mention that Q3 net revenue fell 22.8% year-over-year.
While operating revenue was down in Q4, so was the company’s station operating expenses, as belt-tightening reduced them to $21.12 million from $23.05 million.
Nevertheless, net income fell to $2.27 million ($0.38 per share), from $3.84 million ($0.64).
Yes, income tax expense impacts this, but even before that expense, net income was off, dipping to $4.95 million from $5.4 million.
Free Cash Flow declined to $5.13 million from $5.43 million in Q4.
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