WLS-AM, Chicago’s Steve Cochran Lands Sosa Interview
WLS-AM, Chicago morning drive host Steve Cochran (left) interviewed former Chicago Cubs star Sammy Sosa (center) on March 15 as the controversial former ballplayer returned to the Windy City. Sosa left Chicago and the Cubs after the 2004 season and, in 2009, it was revealed that Sosa was among MLB players found to have tested positive for PEDs in 2003 in baseball’s steroids scandal. Last Friday, fans were treated to Sosa’s first interview with Chicago media in many years. WLS allowed local TV cameras into Cumulus Chicago studios to capture Sosa’s return to Chicago media. Also pictured here is Cochran’s co-host Andrea Darlas (right). See the interview here.
unique visitors and CNN.com had 110.9 million (down 6% from last year). FOX News Digital has led CNN.com and NYTimes.com in multiplatform total views and multiplatform total minutes in recent years but CNN.com relinquishes the lead in multiplatform unique visitors (similar to radio’s cume) for the first time since Comscore has been reporting digital ratings. 
1. Financial solvency laws. Consolidation is not the problem; it actually saved the radio industry. The problem is the 1986 rule change that dropped financial solvency requirements for station ownership. Prior to 1986, stations could not be purchased with debt. A potential owner had to prove that they could meet the expenses of a station through the duration of its license. Once the financial efficacy rule was dropped and stations could be purchased with debt, the industry was financially decimated. Prediction: Financial solvency laws will be re-instated.
subscriptions, and more. Veritonic CEO Scott Simonelli comments, “We take pride in our collaborations with visionary leaders, amplifying the impact of our solutions and elevating the value delivered to our clients. This seamless integration empowers us to furnish our clients with even more comprehensive, insightful, and actionable data. It equips them to finely tune their audio campaigns, ensuring optimal results while instilling confidence in the allocation of their advertising budget across channels.”
votes in Florida’s primary elections today (3/19). Gallagher was first in line this morning and posted this picture on “X” (formerly Twitter) as he left the polling place, and it received more than 15,000 views in the first 30 minutes. Gallagher adds, “In Chicago, most voters will view it twice. Or more.”
“97.5 The Fanatic” as Andrew Salciunas moves from middays to partner with incumbent morning host John Kincade for the “Kincade and Salciunas” 
program, effective today (3/18). Kincade has been serving as the morning host since January 2021. Salciunas, has spent the past 10 years working his way up the ladder at the station, most recently hosting the 10:00 am to 2:00 pm show since Anthony Gargano left that role after a now-settled contract dispute with the company. In a statement, station PD Scott Masteller says, “I am truly excited to pair John and Andrew for a new sports show that will reflect the energy and passion of the Philadelphia sports fan.”
weakness in the national and network marketplace, and first-time hurdles in our Subscription Digital Marketing Solutions segment. In total, Digital now represents 51% of Townsquare’s 2023 net revenue and 55% of our 2023 Adjusted Operating Income, and maintained a 30% Adjusted Operating Income margin, consistent with 2022’s margin. The strong cash generation characteristics of our assets allowed us to produce $68 million of cash flow from operations in 2023, an increase of $18 million, or +35%, as compared to the prior year. We could not be more pleased to share that given our strong cash position, we were able to repurchase and retire approximately $27 million of our Unsecured Senior Notes at a discount during the year. In addition, we repurchased $17 million of our common stock, and paid a high-yielding dividend while also investing in our business. We also ended the year with a strong cash balance of $61 million and net leverage of 4.43x, retaining financial flexibility moving forward. Despite the lack of tailwinds at our back in 2023, I am very pleased with how the Townsquare team navigated the progressively challenging economic landscape. We outperformed competitors and gained market share due to our local focus and our digital platform. I believe that our performance over the past several years has demonstrated the efficacy of our Digital First Local Media strategy and validated our focus on local markets outside of the Top 50 U.S. cities, reinvigorating my confidence in our business model and our path moving forward.”
firm to complete its audits of the consolidated financial statements and internal control over financial reporting included in the Form 10-K. Urban One expects its auditor will issue an unqualified opinion on the consolidated financial statements. The reason for the delay is that Urban One has identified material weaknesses in its internal control over financial reporting and as a result, expects some of its internal controls over financial reporting and disclosure controls will be ineffective as of December 31, 2023. The Annual Report on Form 10-K for the year ended December 31, 2023, will describe these material weaknesses, and the Company is implementing plans to remediate them. The company says it does not anticipate any changes to its previously audited financial statements, nor does it expect to report financial results for the fourth quarter and full year ended December 31, 2023 that are materially different from the financial guidance range previously provided by the company during its third quarter earnings call.
February 20.” Audacy awaits FCC approval to complete its restructuring and plans to file its 2023 10-K later this month. The company says it experienced revenue growth of 1% in January, led by a 1% increase in radio revenue and a 7% increase in digital revenue. Audacy chairman, president and CEO David Field comments, “Audacy is off to a strong start in 2024, driving accelerated financial and operating performance, including solid early growth in revenues, key digital metrics, and audience and revenue shares. We look forward to a bright future, capitalizing on our best-in-class balance sheet and our scaled leadership position in the dynamic audio market, distinguished by our exclusive premium content and top positions across the country’s largest markets.”
local political and other key local vertical ad spend, and significant ad growth for connected TV/over-the-top (CTV/OTT), TV OTA, and TV Digital. BIA VP of forecasting & analysis Nicole Ovadia states, “As expected, local political advertising will be substantial this year, and it’s fueling spend across the media landscape. Our slight adjustment down for this year is mainly due to mixed economic signals, a slowdown in certain consumer purchases, and lower than expected spending in Digital and Direct Mail advertising at the end of 2023 that may flow into this year. However, we still anticipate 2024 to be better for local advertising than 2023 and certain media like TV OTA, TV Digital, and CTV/OTT are growing substantially.”
WHO morning show. Today, Simon Conway – the station’s PM drive host – was part of the on-air team. Amy Sweet posted the following message to Facebook, “Our sincere appreciation goes out to every listener who has tuned in to WHO over the years, making it possible for us to build upon the rich tradition of excellent programming that sets us apart from other stations. We have truly enjoyed connecting with each one of you through various initiatives designed to foster deeper connections within our beloved community. As we move forward into unknown territories, we are filled with anticipation and hope for what lies ahead!”
audio experienced a 17% decline. The study identified radio app and voice users as super users who shared common traits and expectations. Audacy notes, “These highly engaged individuals demand seamless transitions for Audio across their home, phone, and car systems… Moreover, they exhibit readiness to spend, particularly in high-budget categories like home improvement and financial services, responding actively to targeted radio ads. For advertisers, crafting personalized ads targeted at these audiences presents an exceptional opportunity to guide listeners through all stages of the purchase funnel.” Other key findings of the study include: 1) Nearly half of radio app users sought information about advertised products online after hearing an ad in the car, compared to 22% of all listeners; 2) 31% of radio app users and 27% of voice users visited the store they heard about, doubling the rate of all listeners; and 3) 27% of radio app users purchased advertised products, more than doubling the rate of all listeners. 
Think about the concept for just a minute. Manhattan Island for $24? Peter Minuit knew value.