Audacy Won’t Challenge BMI Merger in Exchange for $25.4 Million in Stock
A bankruptcy court judge is agreeing to Audacy’s settlement with BMI in which Audacy agrees not to challenge BMI’s pending merger in exchange for at least $25.4 million in BMI stock. This comes as Audacy makes its way through the Chapter 11 proceedings and addresses both the audit dispute and fee dispute Audacy has with BMI. Regarding the audit dispute over how many BMI shares Audacy owns,
Audacy agrees to pay BMI $550,000 in settlement of those claims. Audacy and BMI agree to resolve the fee dispute with 60 days of BMI’s merger. Based on the results of the 2017-2019 Audit, BMI asserted that Audacy owed approximately $1.68 million in fees to BMI. Audacy disputed BMI’s claim and, since 2020, has been negotiating with BMI to settle that matter and any potential claims relating to Audacy’s 2020 revenue subject to license fees. BMI has also asserted that Audacy owes approximately $9.26 million in unpaid license fees and accrued late fees, which Audacy disputes. Audacy says in its filing that this “Settlement is in the best interest of all stakeholders (including Debtors’ secured creditors, the only impaired parties) because it will, subject to the closing of the merger, bring in at least $25 million of funds to the Debtors’ estates (potentially within days of this settlement being approved), with the possibility for up to an additional $13.6 million in the following months.”
its inception in 2010. Cook told his listeners, “It’s been a blast with you guys.” Cook is also a sportswriter for the Pittsburgh Post-Gazette. He’ll leave that position after his last column appears on Sunday. Audacy Pittsburgh SVP and market manager Michael Spacciapolli comments, “From the first day ‘93.7 The Fan’ signed on the air, Ron brought instant credibility to the station with, not only with reputation as one of the top columnists in the market, but also a trusted voice that sports fans wanted to hear from. That is a rare combination, and to this day we are fortunate that Ron was here with us from the beginning.” 
small attributed lift (0% to +3% lift) to excellent (+15% or more). Across the 17 campaigns analyzed, the average attributed lift was +14%. Three tax preparation service campaigns achieved “excellent” status ranging from a +30% to +48% attributed lift; 2) On average, the 17 AM/FM radio campaigns saw the highest percentage of impressions at the start of the week, peaking on Mondays and Tuesdays. Compared to the Nielsen impressions, the AM/FM radio campaigns outperformed on Saturday, Sunday, and Monday. Advertisers should increase their use of AM/FM radio on the weekends. AM/FM radio campaigns on weekends drive impact and results; and 3) On average, evenings have a greater share of attributed web sessions due to available devices and free time of consumers. Mornings historically underdeliver their share of impressions since consumers are busy getting ready for work and school. This expected pattern should not be a reason to move campaign weight out of morning drive. Morning drive exposure results in web sessions during later dayparts when consumers have the time and available devices to respond. 
Today, TALKERS magazine managing editor Mike Kinosian does a deep-dive into the recent performances of the news/talk format during Nielsen Audio’s “Holiday” PPM ratings period. He writes, “Last week, we recapped how all-news stations have recently performed in (volatile) ‘Holiday’ survey periods. As a companion piece, the data summarizes ratings performances of news/talk stations in the two most recent ‘Holiday’ sweeps.” 
video stream in partnership with YouTube on the iHeartRadio Channel. Podcast fans help decide the winner of the Podcast of the Year by voting online at iHeartPodcastAwards.com now through February 18. This year’s nominees include “Crime Junkie,” “The Daily,” “My Favorite Murder,” “New Heights,” “Normal Gossip,” “On Purpose with Jay Shetty,” “The Retrievals,” “Scamanda,” “SmartLess” and “Wiser Than Me with Julia Louis-Dreyfus.” iHeartMedia Digital Audio Group CEO Conal Byrne says, “As the podcast industry continues to rapidly grow, this past year has clearly proven that podcasters are always innovating in the audio space and finding new ways to reach and engage new audiences. The nominees for the 2024 iHeartPodcast Awards reflect the results of honing that creativity and we’re thrilled to celebrate and once again empower these creators and elevate the podcast industry together live in person at SXSW.” 
total Audio campaigns — including radio, streaming and podcast advertising— with Veritonic allows us to show the power of Audacy’s content in connecting with audiences and mobilizing customers. We’re thrilled to continue our partnership and enable our clients and advertising partners to leverage audio to achieve the utmost in competitive edge, reach, and ROI.”
RAB in 2000 to help create databases and programming as RAB.com was emerging on the internet. Since then, she has designed RAB’s proprietary systems touching nearly every aspect of RAB services and operations including, RAB’s CRM product Account Manager, GoCart (RAB’s e-commerce platform), training and education management platform and Radio Mercury Awards’ database and entry platform. Promoted in July 2023, Madison Wright is the director of events and communications for RAB, intertwining her passions for public relations, social media and creating “memory-making moments” with her love for radio. RAB president and CEO Erica Farber states, “RAB is proud and delighted to promote all three dedicated and accomplished team members. I am truly excited to see how they will continue to grow professionally and super serve RAB’s membership.”
other members of our unit. First and foremost, we denounce layoffs in their entirety; we believe this form of ‘cost cutting’ is fundamentally avoidable, and we don’t think innocent, hardworking staff should ever lose their livelihoods over mismanagement at the highest levels of a company. As previously reported, our parent company, Audacy, filed for bankruptcy at the beginning of this year after racking up $1.9 billion in debt. This same company also gave out at least $3.2 million in executive bonuses just months prior… Today, our union began the bargaining process where we will be fighting for the severance that our colleagues deserve — compensation that honors the immense time, skill, and creativity that each of them dedicated to the company over the years.”
income of $1.21 billion reported for the full year of 2022. The company says, “SiriusXM added approximately 131,000 new self-pay subscribers in the fourth quarter of 2023. For the full-year 2023, self-pay subscribers decreased by 445,000 and we ended 2023 with approximately 34 million total subscribers.” SiriusXM CEO Jennifer Witz comments, “In 2023, SiriusXM laid the groundwork for future growth through the successful launch of our next-generation platform and the new SiriusXM app. Our commitment to growth was also demonstrated by strategic content investments that expanded our reach to new listeners and by staying true to our identity as a hub for curated, live and on-demand audio experiences. As we look to 2024, our guidance reflects substantial efforts and investments to enhance the value proposition of our subscription and advertising businesses, which we believe will strengthen our long-term growth profile.”
amount raised brings the fundraising total to more than $4.2 million since 2010. Audacy Minneapolis SVP and market manager Jeff Gonsales says, “I couldn’t be prouder of everyone’s hard work on this event. This is yet another great example of how local radio can truly help change lives. We’re so grateful that WCCO can partner with Second Harvest Heartland and impact the community on such an amazing and rewarding day.”
announced. Neuhoff states in announcing the sale that this “transaction is part of an overall strategic decision on behalf of the Neuhoff family to depart the broadcast industry after nearly 70 years,” according to Julian Hickman and Makena Neuhoff, trustees of the Neuhoff family. The company still owns 13 radio brands spread across the Springfield, Illinois; Bloomington, Illinois; and Lafayette, Indiana markets and it “expects to make additional announcements regarding future agreements as the Neuhoff divestiture process moves forward.” Hickman states, “We are proud of what broadcast ownership has meant to our family, our employees, and the markets we serve. Our grandfather, Roger Neuhoff, began his ownership in the business during the mid-1950s. He loved the broadcast industry and was proud of the way our radio and television stations served their local communities.” Neuhoff Media president Mike Hulvey adds, “We are pleased to see the iconic local media brands of Neuhoff Media’s Danville and Decatur markets all brought together through this historic transaction with the Champaign Multimedia Group. The next chapter for the Danville and Decatur radio stations and digital platforms will create something very special for each community.” Kalil & Co., Inc. acted as the exclusive broker for this transaction.
talk KILT-AM “SportsRadio 610.” McClain’s role with the station included appearing on the station’s programs, writing stories for its website and co-hosting a podcast with station personality Sean Pendergast. The 72-year-old McClain tells the Chronicle that he’s not ready to leave the Houston radio market, adding, “I’ll see if people are interested. I’m a free agent now.” 
nominees to be voted upon by industry personnel later this year, leading to the selection of the 2024 Radio Hall of Fame Induction Class. Kraig T. Kitchin, co-chairman of the Radio Hall of Fame, comments, “The input from fellow radio industry members and listeners alike helps our nominating committee contemplate so many more individuals worthy of a nomination. We’re grateful for the input and the ideas offered.”
states, “We are excited to air ‘The Other Side of Midnight with Frank Morano.’ We were looking for a live, informative, interactive and entertaining show that will rekindle the joy of overnight radio.” Morano comments, “I’m excited to join the KMOX lineup and bring live programming to overnights in St. Louis. St. Louis is a terrific market and KMOX is a legendary talk station, with an incredible audience and history that goes back nearly a century. I’m looking forward to being a big part of their history when the chapter on their next century is written. We’re going to have a blast.”
with Jay Glazer: A Mental WEALTH Podcast” to better reflect the uplifting message of the program. Glazer says, “When we launched the podcast, it was really important to give words to what many of us are experiencing with our mental health. We led that charge, and after more than a year of conversations with leaders and champions in every field, we’re shifting to a focus on sharing personal stories of overcoming adversity, the tools people use to incur MENTAL WEALTH, and paths to success so we can help motivate, uplift and inspire even more people and help set them up to win.”