Bloomberg: Audacy Gambled on CBS Radio Merger
A piece at Bloomberg by Ashley Carman looks at the $1.5 billion 2017 merger of Audacy (formerly Entercom) and CBS Radio and concludes that the deal has been a back-breaker for the company as Carman writes, “Now, six years later, Audacy is struggling under the weight of $1.92 billion in debt and shriveling demand for radio advertising, an industrywide plague.” The piece goes beyond just Audacy’s
financial struggles and looks more broadly at how radio as a legacy medium is facing “the same headwinds as other traditional media.” Carman adds, “Stations are losing their grip on younger audiences, and advertisers are tuning out. Fresh sources of revenue, like podcasts and streaming audio, are going to new contenders such as Spotify Technology SA or just failing to make up for the lost radio ad dollars.” The U.S. radio business has always touted its reach, but according to Lauren Russo, EVP at ad buyer Horizon Media, broadcast radio faces real problems. “The broadcast marketplace is extremely soft for ’23 and similarly for ’24. The overall audio ecosystem continues to grow from a streaming and podcasting perspective, but at the expense of broadcasts.” Read the Bloomberg piece here.
related to Urban One’s failure to timely deliver quarterly reports for the first and second quarters of 2023 and sets a due date of November 30, 2023 for those and a December 31, 2023 due date for the third quarter financial report. Urban One also reports that it has received an Additional Staff Delisting Determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC due to the delinquent Q3 2023 report. Urban One has a hearing set for November 30 and anticipates filing the delinquent Q1 and Q2 reports prior to the hearing. It also expects to file the Q3 report on or about December 31, 2023 and will present its plan to evidence full compliance with the Nasdaq listing criteria at the hearing.
MacKenzie’s complaint paints a picture of her being consistently paid less than male and younger staffers that goes back to when she first joined the station when it was owned by CBS Radio. It says that from the beginning she was paid “about $20,000-$30,000 per year less than” her co-workers in comparable positions. MacKenzie says that the SAG-AFRTRA investigation into KYW’s compensation practices in 2021 confirmed her belief the company was engaged in gender-based pay inequity. In 2022 MacKenzie did agree to a deal with the company that paid her $150,000 per year for 2022, $152,500 for this year and $155,000 per year for 2024. But she says she has suffered “significant harms and losses” over the years and is seeking back pay, liquidated damages, interest, costs, negative tax consequence damages, injunctive and declaratory relief, and attorneys’ fees. 
NBC” at #1, audiochuck’s “Crime Junkie” at #2, Wondery’s “Morbid” at #3 and Cumulus Podcast Network’s “The Dan Bongino Show” at #4. Radio-related podcasts of note in this ranker include Salem Podcast Network’s “The Charlie Kirk Show” rising four places to #12, Cumulus Podcast Network’s “The Mark Levin Show” up two places to #13, and Cumulus Podcast Network’s “The Shawn Ryan Show” rising five places to #24. 
including many Cumulus radio stations, with station jingles, commercial jingles, and production music. TM also acquires the additional assets of the Drake Chenault catalog and all intellectual property associated with TM’s former product lines HitDisc and GoldDisc. Westwood One originally purchased TM Studios in 2009 and subsequently sold the company to former TM executives Greg Clancy, Dave Bethell, and Chris “UK” Stevens in November 2020. WWO president Suzanne Grimes states, “Westwood One is committed to partnering with companies that provide unique products and outstanding service, and TM fits that description perfectly. By extending our relationship with TM, we are assured that radio stations around the country will be able to access the best-in-class offerings TM has been creating for more than 50 years.”
the study found that eliminating 10 words of audio copy increases the Creative Standout score by 1%. Creative Standout is achieved when consumers say, “this ad stands out” and rate an ad with an 8, 9, or 10 on a one-to-ten-standout scale. Further it found that eliminating 10 words of audio copy increases web traffic by 0.25%. Creative Standout in audio advertising is strongly linked to ad response via website visits. For each 1% rise in Creative Standout achieved by an audio ad, website response rate increases by 0.25%. Also, the more messages that are included in the ad, the poorer the recall. An ad with four messages will have message recall of only 24%, compared to 43% for ads with just one message. The more messages an ad attempts to communicate, the lower the likelihood of a single message being communicated. 
Newsradio staff and join other distinct Hall of Famers, including NBC News’ Andrea Mitchell and longtime suburban bureau chief Jay Lloyd. Lynne Adkins spent 34 years as an anchor, reporter and mentor at KYW Newsradio. Brandon Brooks was the voice of news in Philadelphia for more than 30 years. He first came to KYW Newsradio as a part-time anchor and reporter in 1989. Audacy Philadelphia SVP and market manager David Yadgaroff states, “This honor is long overdue for these two inductees who have devoted over three decades of their lives to being reliable news sources for the Philadelphia region. Not only has their professionalism set a high standard for our content, but their extensive backgrounds have taught the next generation of KYW Newsradio broadcasters to aspire to a new level.”
figures in the state of New Jersey and WPG, Atlantic City morning drive personality Harry Hurley is ranked #55 on the list. The caption alongside Hurley’s photo in the feature states: “No other radio host show in New Jersey covers politics as hyperactively as Hurley, who has earned the trust of key players in both parties while amplifying the concerns and troubles of regular voters. An asset to the state.”
turkeys and meals will be distributed by St. Francis over the holiday season, including from the 77WABC “Turkey” Trolley today (11/15) St. John’s Church in Manhattan. Red Apple Media owner John Catsimatidis says, “No one should be without a turkey dinner on Thanksgiving. This is an American holiday and Americans should not go hungry, ever! We are delighted that AARP New York City has joined us in this charitable endeavor.” 
retire from the station on December 6. After his departure, John Kobylt (left) will continue in the daypart as a solo host. He quipped, “I am saying goodbye. After very little thought, this is what I’m gonna do.” The duo rose to prominence during their time at WKXW-FM, Trenton “New Jersey 101.5” beginning in 1988. They moved to KFI in 1992 and briefly went into national syndication in the late 1990s. That move drove a wedge between them and then-KFI owner Cox Communications and they left to do mornings at crosstown Disney-owned KABC, Los Angeles. That didn’t last long, and they returned to KFI where they’ve flourished since 2001. 
compensation expense, debt modification costs, gains and losses on the sale or disposition of assets, impairments, depreciation expense and amortization expense increased 0.2% to $61.0 million. The company reports a net loss of $31.3 million for the quarter, an increase of 163% over the same period in 2022. Salem presents operating results by segment and reveals that its Broadcast segment’s revenue was $49 million, down 4.2% year-over-year; its Digital Media segment’s revenue was $10 million, down 2.2%; and the Publishing segment’s revenue was $4.6 million, a decline of 17.5%. 
the afternoon drive show based at WHO-AM, Des Moines and syndicated to WMT-AM Cedar Rapids and WOC-AM, Quad Cities – takes over the new morning show role from Bud Hedinger, who retired from the station after 20 years. Conway says, “It is such an honor to have been given the keys to this amazing morning drive show in the heart of Central Florida. We have a great crew and we are aiming to be hard-hitting, fun and entertaining all at the same time.”
Phoenix as host of the 3:00 pm to 5:00 pm talk show “All Right Now!” on CRC Broadcasting Company’s KFNN-AM. CRC founder Ron Cohen says, “JD coming home to KFNN is a watershed moment for our station and all Arizona radio listeners. With so much interest in the 2024 election and Arizona’s growing notoriety as a key battleground state, the timing could not be better to bring JD back to host a daily show. No Valley radio host possesses JD’s credentials in both broadcasting and politics.”
her Eugene, Oregon management role and becomes regional vice president. Cumulus operates news/talk outlet KKOH-AM, Reno; news/talk KUGN-AM & sports talk KUJZ-FM in Eugene, plus six music brands. Cumulus president, operations Bob Walker says, “We are thrilled to expand Tricia’s responsibilities and welcome her back to Reno. Her experience and relationships in the market are unmatched.” 
Audacy SVP and market manager David Yadgaroff says, “It’s a great night in support of our local veterans. Audacy Philadelphia has a strong partnership with TMF, and we’re excited for our 94WIP hosts to assist in this fundraising effort.” 94WIP guest bartenders include Joe DeCamara, Rhea Hughes, James Seltzer, Hugh Douglas, Joe Giglio, Ike Reese, Jon Marks, Jack Fritz, Howard Eskin, Devan Kaney and Eliot Shorr Parks. Also, in attendance will be Ryan Manion and Col. Manion of Travis Manion Foundation.
will lead a discussion aimed at helping residents understand the best way to protect themselves and their loved ones. He says, “The war between Israel and Hamas has created heightened tensions in New Jersey. But even before the war began, New Jersey was dealing with multiple threats from foreign actors and extremist groups operating in the Garden State.” The program’s on-air panel will feature Daniel Engelhardt, deputy director of the New Jersey Office of Homeland Security and Preparedness; Nelson Delgado, assistant special agent-in-charge of counterterrorism for the Newark FBI office; Stafford Township Police Chief Thomas Dellane; and security representatives from various New Jersey state agencies and authorities.
funded to analyze the potential effects of the AM Radio for Every Vehicle Act on the auto industry reveals the cost to the industry would be minimal, but that AAI “misrepresents, distorts and spins the results of the report it paid for to advance its position” in opposition to the legislation. 
from 6:00 am to 9:00 am. In addition to “Morning Juice,” Beam hosts the Ohio State Buckeyes football network post-game show in partnership with “97.1 The Fan” and Learfield/Ohio State Sports Properties and co-hosts the “Bone and Beam United” podcast. Station program director Matt Fishman says, “Beamer is a smart, versatile personality who has excelled in several roles. We are thrilled that he has decided to stay at ‘The Fan.’” Station manager Cody Welling adds, “Brandon is an emerging talent that has worked extremely hard on his development. I enjoy his energy, his passion for the station, and his love for Columbus, our teams, and our fans.”
Curley and Howie Carr encouraged listeners to donate and raise funds for the DAV of Massachusetts’ homeless shelter and transportation programs. iHeartMedia Boston director of operations, news, talk and sports Bill Flaherty says, “Year after year, the WRKO listeners overwhelm us with their generosity. This year, they have helped to raise $172,852 for the DAV of Massachusetts. It’s an honor to dedicate a day of programming to those who have given so much of themselves for this country.” Since 2016, the “DAV Radiothon” has raised over $1,058,000 to benefit veterans in the community.
clients, and industry insiders alike, Cohen has played a pivotal role in shaping the careers of some of the biggest stars in the business. Her dedication to the well-being and success of her clients has set a new standard for excellence in talent representation.” The Weiss Agency founder and CEO Eric Weiss adds, “In Heather, we have not only an exceptional talent agent but a true leader and advocate for positive change. Her dedication, industry acumen, and commitment to her clients embody the values we hold dear at our company.” Cohen says, “I am so fortunate to have a career that I absolutely love. It is a privilege to represent people that I truly believe in. The content they provide is the force behind and the future of our industry. I am beyond grateful to Eric Weiss for his guidance, friendship, and faith in me. There is nowhere that I would rather be, and I look forward to many more years working with Eric and our Weiss Agency family.”
Beasley were unable to come to terms on a new contract a few weeks after the company announced Toucher had inked a new, multiyear deal that will see him continue as lead host of the morning show. WBTS-TV, Boston “NBC10” reports that Toucher announced the change on this morning’s show and indicated he was surprised when management told him Shertenlieb was leaving the program. He also said management wanted him to tell the audience that the company made him “a multi-year offer that he chose not to accept” and that “negotiations weren’t going anywhere.” Shertenlieb has not commented publicly other than to inform the show’s X followers that he has a new X handle.