Industry News

He's no stranger to CBS News but has been serving as President/GM of KGO-7, the ABC Owned Stations property serving the San Francisco-Oakland-San Jose market.  That's about to change. After seven years in the Bay Area, this news veteran is returning to CBS at a particularly fragile time.

Some five years after the COVID-19 pandemic wreaked havoc on the nation's mental, physical and financial health, the Radio industry is still suffering. That's the message being told to investors of one of the biggest audio content creation and distribution companies in the U.S., as it delivered its Q4 2024 results on Thursday.

As CEO Mike Steib and CFO Julie Heskett see it, TEGNA's financial strength and "disciplined execution" make it a standout broadcast television station owner, one ripe for growth and the right M&E activity as it nevertheless anticipates total Q1 2025 revenue to decline between 4% and 7%. As such, is TEGNA a buyer or seller?

Broadcast revenue fell 5.1% but digital again was a bright spot

The post Cumulus Posts Loss, Revenue Drop for 2024 appeared first on Radio World.

The owner of such broadcast television stations as KGW-8 in Portland, Ore.; WTSP-10 in Tampa-St. Petersburg; and flagship WUSA-9 in Washington, D.C., enjoyed a 20% gain in revenue in the fourth quarter of 2024, helping it achieve full-year revenue growth of 7%. The big reason TEGNA saw the improvement is tied to political advertising.

One year ago, Cumulus Media initiated a “poison pill” defense to stave off the looming threat of a hostile takeover from billionaire Manoj Bhargava. Now Cumulus is quietly putting that shareholder rights plan to bed as the danger fades, per an SEC filing.

The year-over-year results mark an improvement. But, in the eyes of analysts, the revenue growth seen in Q4 2024 for Sinclair Inc. may not be good enough. That's what the company led by Chris Ripley  has to contend with.

Through a Notice of Proposed Rulemaking, the Commission will consider additional actions it could take today to make sure TV viewers aren’t inundated by exceedingly loud commercials in the future.

Gray Media has inked an agreement that will allow it to simulcast five Memphis Grizzlies NBA games, in partnership with FanDuel Sports Network. The games will appear in Memphis, Nashville and Knoxville, starting March 12.

Audacy's Podcasts division has expanded its exclusive, multi-year sales and distribution partnership with CBS.  The agreement now includes CBS Entertainment, CBS Media Ventures, CBS News, and CBS Studios podcast slates.