Newsmax Closes Preferred Offering; Preparing for IPO
Newsmax Inc. announces the closing of its previously announced offering of Series B Preferred Stock. Newsmax says the offering exceeded its initial target of $150 million with the company closing last week on its maximum offering amount with gross proceeds of $225 million, before the deduction of placement agent fees and other offering expenses. More than 8,000 accredited investors participated in the private offering.
Now, is submitting IPO offering materials with the SEC and is seeking a public offering with a planned listing on the New York Stock Exchange under the symbol “NMAX” later this year. Newsmax CEO Christopher Ruddy states, “This achievement reflects the strong results Newsmax has demonstrated and testifies to the trust and support the company maintains with investors, viewers and friends. We’d also like to thank Digital Offering LLC, for their expertise, hard work and their positive commitment to supporting us throughout this process. We are excited to be one step closer to our upcoming IPO which will provide us a tremendous opportunity for growth. A public offering will allow tens of thousands of Americans to directly partner with us and join our news revolution. We look forward to delivering long-term value to all of our shareholders.”
were three or four minutes. Under the old five-minute listening qualifier rule, none of this tuning would have received listening credit. Effective with the January 2025 PPM survey, Nielsen is now crediting tuning occasions that are three minutes or greater. What are the results so far? First, drive times and weekends experience the greatest growth. Comparing January 2024 to January 2025 for persons 12+ and 25-54 reveals double-digit growth for all dayparts. Weekends and drives times have the greatest increases. Second, AM/FM radio’s listening profile now skews younger: Every major buying demographic has a higher composition of listening. Persons 65+ is the only demographic where AM/FM radio’s audience composition is reduced. Persons 25-54, AM/FM radio’s most popular buying demographic, experiences the largest increase in audience composition. Persons 18-49 have the next largest growth. And third, format shares remain stable. Versus October 2024, PPM January 2025 format shares are very consistent. An uptick in news/talk AQH composition is most likely more due to a heavier news cycle (major weather stories and a new president) than a PPM methodology enhancement. In local markets, there is more share variation. 
Birmingham, Alabama headquarters. SummitMedia CEO Carl Parmer states, “Joe brings a wealth of experience and a new perspective to the SummitMedia team. He’s a dynamic, high-energy leader who, I know, will guide our results-oriented teams to new levels of success.” Parmer adds that he expects Bell to bring innovation across platforms, strengthening the company’s competitiveness and longterm growth across media platforms. Bell comments, “Success lies in leading with vision, inspiring a high-performing team and unlocking new revenue opportunities across our traditional and digital platforms. Summit has built a team of great people — with great products and great markets — that equal great opportunities.” 
York director of marketing and promotions Emily Magelof says, “David’s creativity, vision, and dedication have been instrumental in driving our brands. We are excited for him to continue elevating our promotional efforts, ensuring even greater success in the future.” Montague comments, “I am truly honored for this accomplishment and excited for the future. I want to thank my support system at iHeartMedia, friends and family for their continued confidence and believing in me.”
solution that brings both sides together for progress and unity. Patterson and Flippin battle the political, social, and economic differences, ultimately landing on common sense and the truth in every situation.” Red Apple owner John Catsimatidis says, “I have known David for many years. He is a common-sense politician, with the ability to make insightful observations about national and local politics. David represents the Democratic perspective with a level-head and a focus on finding the common ground that unites us and moves us forward. Our listeners already know David. His entrée as a regularly scheduled co-host of ‘Left vs. Right’ will be a welcome addition to our listeners.” Patterson says, “I am thrilled to be a part of the permanent WABC Radio lineup and to represent the left side of things. As Americans, we have more in common than we might realize. With common sense, we can come together as Americans and New Yorkers and solve our problems. I’m looking forward to working with James and helping to bring New Yorkers together.”
Day the Music Died, that involves pirates hijacking 100 radio stations in five major U.S. cities and follows one company’s story over the course of 24 hours. Orchard was raised in a radio family that owned and operated stations in the 1980s and 1990s. Her family later launched a consulting business that conducted mock FCC inspections and she says the idea for her novel was born from those experiences. 
radio stations) Q4 2024 revenue was $684 million, flat compared to Q4 of 2023. The company’s Digital Audio Group Q4 2024 revenue was $339 million, an increase of 7%. Withing the Digital Audio Group, podcast revenue was $140 million, an increase of 6%. For the fourth quarter of 2024, the company reports net income of $31.9 
million. For the full year of 2024, it reports a net loss of $1 billion. iHeartMedia chairman and CEO Bob Pittman states, “Our fourth quarter Adjusted EBITDA of $246 million was up 18.2% vs. prior year, our highest percentage increase in almost three years, and our consolidated revenues were up 4.8% compared to the prior year, demonstrating the inherent operating leverage in this business. We are pleased that we successfully completed the comprehensive exchange transaction discussed last quarter – extending the majority of our debt maturities by three years; keeping our consolidated annual cash interest expense essentially flat; and providing overall debt reduction. This provides the company with the flexibility to remain focused on creating shareholder value in 2025 and beyond.”
Coleman has been a fixture in Richmond sports talk for more than 30 years on numerous stations in the market. He began his working life as a stockbroker but caught the sports talk bug in the 1990s. He says, “Everybody to a person said to me, ‘Don’t quit your day job. You can’t do a sports talk show in Richmond, Virginia, five days a week. It ain’t gonna work…’ It worked. It worked.” He laments that the business isn’t what it was back in the day, “There’s not the same camaraderie. It’s not the same fun that it used to be.” But he adds, “It’s still fun; I still like doing the show. But it’s just time for me to go.” 
impairment charge of $224.5 million compared to a pre-tax non-cash impairment of $65.3 million in 2023, both primarily reflecting FCC-related charges.” Cumulus president and CEO Mary G. Berner states, “Since the pandemic’s onset, the radio industry has experienced tough economic and secular headwinds. In the face of those, we outperformed our peers through the end of 2023 on key metrics including cost takeouts, EBITDA 
margin recovery, free cash flow generation, net leverage, and liquidity. 2024 brought additional challenges, including accelerated national headwinds as well as an industry-wide slowdown in local radio advertising. In response, we doubled down on investing in growth areas, particularly in our digital marketing services business, which is pacing up 30% in Q1. Additionally, we continued evolving our broadcast go-to-market strategies, including with new offerings that are successfully attracting large new broadcast clients, and we drove additional cost efficiencies with 2024 actions that will result in $43 million of annualized fixed cost savings, of which $15 million benefited 2024 with the balance in 2025. Though the industry environment remains challenging for now, our 2024 refinancing efforts provided us with the time needed to both execute our day-to-day blocking and tackling and, in parallel, continue to reimagine the ways in which we can get the most out of our key assets to create new revenue streams and build additional long-term value.”
will air on SiriusXM’s Stars channel from 8:00 am to 10:00 am. SiriusXM president and chief content officer Scott Greenstein comments, “Page Six has been a powerhouse for all celebrity news for nearly half a century, and by teaming up with our in-house experts here at SiriusXM, this new show is sure to be the ultimate destination for pop culture fans. With the launch of ‘Page Six Radio,’ we are transforming the publication’s stories to a dynamic new format that will expand its reach and resonate with SiriusXM listeners who turn to the platform for all the latest entertainment news.”
says, “Governor Newsom is going solo and diving into the real issues that matter – government, politics, affordability, quality of life, and the cultural moments shaping our world. No spin, no script, just real talk about what impacts listeners most.” 
should have the right to handpick the journalists who cover them. Doing so gives them license to select only news outlets whose coverage they deem positive and exclude responsible journalists whose reporting, although fair and accurate, the administration may not like. We call on the Trump administration to reverse this decision without delay so that the American people, and the world, can be assured they are getting a complete and accurate account of the activities of the President of the United States. This is especially critical during times of crisis.”
York Yankees baseball broadcasts. Berbari, in his third year with the station, will continue to serve as a fill-in play-by-play announcer. Audacy New York market president Chris Oliviero says, “We are excited to have Emmanuel take on an expanded role as the postgame show host for WFAN’s Yankees broadcasts. Emmanuel has been a terrific contributor to our team coverage the last few seasons and his passion for the game makes him a perfect fit to wrap up each game for the fans of the Bronx Bombers.”
discussion that will include experts educating New Jersey residents about how to identify threats and what to do when one’s personal safety is in jeopardy. The program will also expose the growing threat posed to children who are increasingly being groomed and recruited by extremists online. He says, “Law enforcement is increasingly concerned about both foreign and domestic threats. But the rate at which extremists are targeting our children is particularly alarming.” On-air guests will include: Carl Priddy, acting assistant special agent in charge of counterterrorism for the Newark FBI office; Laurie R. Doran, director of the New Jersey Office of Homeland Security and Preparedness; Adam McMahon, assistant professor of political science at Rider University; and John Pizzuro, CEO of Raven and former commander of the New Jersey State Police Internet Crimes Against Children Task Force.
streamed live on Rumble, and soon on both YouTube and X. Root tells TALKERS, “I’m thrilled to announce I’m now part of ‘Untamed Nation’ two hours a day. This gives my fans a daily choice – they can listen to my talk show on the radio, or they can watch both hours streamed as a podcast. Untamed is quite a unique platform. Untamed cuts through the noise and brings the truth to light. We are bold, empowering, and disruptive. No filters, no fear. Just raw untamed truth. It’s the perfect platform for ‘the loudest MAGA mouth in the world.’”
tapings and discussions aimed at aspiring podcasters in the Black community. He says, “We’re excited to return to Atlanta, building on the incredible momentum of the podcast industry and the growing impact of Black creators in the space. As the influence of Black voices continues to shape culture and drive conversations, The Black Effect remains committed to powerful storytelling, meaningful brand collaborations and unforgettable live experiences. This year, we’re celebrating not just where we’ve been – we’re embracing the limitless future of Black podcasting and the influence it holds.”
provides Townsquare with a five-year, $470 million senior secured term loan facility and a five-year, $20 million senior secured revolving credit facility. Townsquare used $453 million of net proceeds from the Senior Secured Credit Facility plus cash on hand to redeem the outstanding 6.875% senior secured notes due 2026. Both the term loan and the credit revolver mature on February 19 of 2030.
a state-of-the-art podcast studio in Qatar, accompanied by a lineup of original shows and the introduction of some of the world’s most popular podcasts to Arabic-listening audiences. It will also execute specialized masterclasses to nurture local talent and host global industry events, including Web Summit gatherings, positioning Qatar as a meeting point for the world’s top podcasting voices. iHeartMedia CEO Bob Pittman comments, “Podcasting has exploded in the US and is now a mass-reach medium. And iHeartMedia, with our expansive network as the #1 podcaster in America, is in a unique position to grow strong listenership around the globe. iHeartPodcasts features a massive catalog of original shows spanning every category and this new partnership creates an opportunity to work with a long roster of incredible creators and distribute even more content to new audiences in the Middle East.”
news/talk WWNC-AM, sports talk WPEK-AM “ESPN Asheville,” plus five music brands. She says, “I couldn’t be more thankful for the mentorship and support I’ve received throughout my career at iHeart, which has brought me to this exciting opportunity. Working alongside such talented colleagues in this beautiful, resilient mountain town is a true privilege. I look forward to continuing to grow with iHeartMedia and helping our amazing clients succeed with the best strategies in the business.”
AM in Louisville and 51 other stations around Kentucky. iHeartMedia Kentucky/Memphis area president Kristy Beebe states, “We are incredibly excited to extend our partnership with Matt Jones and ‘Kentucky Sports Radio.’ Matt’s unique insights and engaging style have made him a beloved figure in the sports community, and we are proud to continue bringing his show to our dedicated audience. This renewal underscores our commitment to delivering top-notch sports content and maintaining our position as the leading audio company in the region.”