SABO SEZ: The Myth About Wall Street
By Walter Sabo
CEO, Sabo Media Action Partners
A.K.A. Walter M Sterling
Daily host, WPHT Philadelphia
Weekly host, Talk Media Network
Wall Street investors do not put up money for traditional radio and television stations.
That myth has been a burden within our culture for about 10 years and it just is not true. From a 1980s fast-buck perspective, traditional media does not offer the no-effort returns it once did. But major investors continue to seek opportunities from radio and TV acquisitions. Notably, today the money is much “smarter” than that found in the 1980s.
(Side note, the 1980s rush to radio put the business in the hellish financing we live with today. The new money won’t do that.)
Marc Rowan is the CEO of Apollo Advisors which bought Cox TV and radio. Apollo was first money in Sirius radio. Their escrow check closed the deal for Howard Stern and changed the radio industry. Marc explained to me that Apollo is not an investor, they are “owners.” Apollo has a long game plan as savvy operators with decent, moral standards. Marc actually likes, consumes and celebrates media. Apollo is not a chop shop. They build businesses.
George Soros is about to close on Audacy. Mr. Soros is a brilliant business builder. Like Apollo, he is an owner/operator. Soros represents smart money going into the proven medium of radio.
John Malone, builder of the cable industry, saved Sirius within days of bankruptcy. The company was about to miss payroll, Malone pulled it out the fire and through Liberty holdings he continues to control 83% of SiriusXM. Over the years he has grown, not diminished Liberty’s stake in the satellite company.
Rowan, Soros, and Malone have one thing in common: They are not jokers. They each have robust histories of sober, sane investments which has made them billionaires. While you and I shop the price of milk, the new owners of proven media are model guides for future Wall Streeters.
Walter Sabo has been a C Suite action partner for companies such as SiriusXM, Hearst, Press Broadcasting, Gannett, RKO General and many other leading media outlets. His company HITVIEWS, in 2007, was the first to identify and monetize video influencers.. His nightly show “Walter Sterling Every Damn Night” is heard on WPHT, Philadelphia. His syndicated show, “Sterling On Sunday,” from Talk Media Network, airs 10:00 pm-1:00 am ET, and is now in its 10th year of success. He can be reached by email at sabowalter@gmail.com
$22.2 million, a decline of 26.7% from the same period in 2023. Urban One CEO and president Alfred C. Liggins III states, “On a same station basis our radio division finished Q2 -5.6% excluding political, and -3.0% with political. We saw a sequential improvement in national revenues vs. Q1, which was offset by weaker local revenues. Q3 core radio revenue is currently pacing down 6.9% on a same station basis, down 5.1% including political, and up 7.0% overall. We are starting to see a significant uptick in political advertising revenues, and remain optimistic for the remainder of the year, which should benefit both our radio and digital divisions. Our Cable TV business continues to suffer from subscriber churn and audience delivery shortfall, impacting both advertising and affiliate revenues, although we are seeing a bounce-back in ratings and delivery in Q3. Our digital business experienced weaker advertising demand than prior year but remains well positioned for the second half of the year, particularly with political and CTV advertising. During Q2 we repurchased an additional $35.5 million of our 2028 notes at 78.0%, and we ended the quarter with approximately $132.4 million of cash.”
responsible for overseeing the Fort Myers and Tampa, Florida markets. In addition to serving as Ft. Myers market manager, AJ Lurie will now oversee sales across the state. Mac Edwards will oversee the Charlotte and Fayetteville markets. Kent Dunn will continue to lead the Augusta market. Mary Menna will lead the company’s Boston, Philadelphia, and New Jersey markets. Kevin Rich, who currently serves as Beasley Media Group vice president of operations, will now also be responsible for overseeing the company’s Las Vegas and Detroit-based operations. Beasley CEO Caroline Beasley states, “These changes reflect the company’s continuous commitment to streamline our sales efforts and drive revenue in an efficient manner across multiple platforms throughout the company.”
Foundation’s 9th Annual Event & Dinner at Mohegan Pennsylvania in Wilkes-Barre on September 20 in the Keystone Grand Ballroom. The theme of the event is “The Enduring Importance of the American Revolution” and will feature keynote speaker Jack Warren, author of Freedom: The Enduring Importance of the American Revolution (Lyons Press, 2023). Each year the Foundation presents its Atlas Award for Citizenship and this year’s honoree is Northeastern Pennsylvania businessman Christopher Hackett. Find out more about the event and how to attend at: 
The New York Times’ “The Daily” remains #1, followed by NPR’s “NPR News Now” at #2 and “Up First” at #3, with NBC News’ “Dateline NBC” at #4. Dan Bongino’s “The Dan Bongino Show” leaps four spots to the #5 rank and the DailyWire’s “The Ben Shapiro Show” jumps two spots to the #6 rank, while FOX Audio Network’s “FOX News Hourly Update” falls two places to #8. 
Radio. The company says that in his new role, Goforth will collaborate closely with local Hubbard Radio markets to enhance sales strategies for existing podcasts. And as part of the Hubbard Radio corporate team, he will create new podcast initiatives and strategic partnerships, to build an even more robust podcast network. Hubbard EVP and chief financial officer Dave Bestler says, “We fully understand and embrace the evolution in our business from radio to audio. We are creating must-hear content in all eight of our Hubbard Radio markets, and listeners are increasingly accessing our content on-demand. John will help expand our podcast offerings, while growing revenue with the podcasts we already have.” Goforth comments, “I couldn’t be more excited to join the amazing team at Hubbard and help grow their already impressive portfolio. It’s thrilling to be at the intersection of local and national in the podcast space. As we’ve seen in other channels, cracking the code on local is the key to explosive growth.”
fans to engage with “Truth” hosts, enjoy delicious food, take in local entertainment. “Truth” hosts Tory Lowe and Melanie Ricks will broadcast live from 11 am to 1:00 pm. Station general manager Cherie Harris says, “We are thrilled to bring back Truth Family Fest for the second year in a row! This event is a celebration of family, community, and partnership. Truth Family Fest will provide valuable resources on healthcare, recreation, and back-to-school support, all aimed at making the transition to the upcoming school year smoother.”
governor who’s been a frequent contributor, guest host, and weekly co-host on the Rod Arquette show since 2018. Arquette says, “Greg has been a passionate contributor of political commentary in Utah on TV and radio dating back to 2012. His extensive experience and background in public service and public policy allows him to pull back the curtain on what’s really happening in Utah and national politics. Our goal is to bring common sense and fair mindedness to the issues that are impacting Utah families in an entertaining and informative way.” Hughes states, “I am beyond grateful and excited to join 105.9 KNRS and the iHeartRadio family. I am especially excited, to partner with Rod every day to inform and entertain the greatest listening audience in Utah. We are living in uncertain, but historic times. There is a real need for thought leaders today who can reach out and dialogue with public servants, business, and community leaders but most importantly, with everyday Utahns. ‘The Rod and Greg Show’ will be the place where that happens… and then some. I’m ready to go!” 
and Macy’s. In this newly created corporate position, Snyder will be responsible for overseeing digital marketing and building revenue opportunities on behalf of the company with an emphasis on newsletters, SEO, websites and affiliate marketing as well as leading the developers working across the organization. Beasley CEO Caroline Beasley comments, “We could not be more thrilled to welcome Dave into the Beasley family. His marketing expertise is exactly what we need as we continue to build new revenue streams on behalf of the company.”
investors are defined by the Securities and Exchange Commission’s Rule 501(a) as individuals with a net worth greater than $1 million – excluding their primary residence – or incomes in excess of $200,000 in the last two years with the expectation of the same in the current year – or $300,000 with a spouse.) Last month, Newsmax announced that it would seek to become a public company later in 2024 or in early 2025 with a listing on the NYSE or Nasdaq. In preparation for this contemplated public offering, Newsmax has launched a private placement offering seeking to raise up to $225 million. Ruddy states, “We are excited to connect with the tens of thousands of investors nationwide who have already shown interest in investing in Newsmax. There is much to be enthusiastic about Newsmax, including significant growth in our audience, a surge in interest in conservative media and our expanding portfolio of platforms and distribution. Now more than ever — especially in this election year of 2024 — America needs Newsmax. We look forward to sharing more details with everyone who tunes in to the webinar.” 
Fanatic” to host the midday show, effective August 12. “97.5 The Fanatic” program director Scott Masteller says, “I am excited to welcome Mike back to the Fanatic. I know that both previous and new listeners will be anxious to hear his insight and perspective on Philadelphia Sports.” The company also announces that Bill Colarulo, a recent addition to the station, will join Mike Missanelli as part of the show’s new on-air lineup.
Mike Missanelli is a possible replacement. He writes, “Jonny Marks reported last week that the Mike/Fanatic reunion looks to be in place ahead of football season. My understanding is that 97.5 is also high on Bill Colarulo and Amy Fadool as new pieces. Colarulo hosts weekends and has filled in on P.M. drive while Fadool had been co-hosting alongside Cooney.” For his part, Cooney posted the following to Facebook: “Wanted to say thanks to all who listened over the years during my time at The Fanatic. Loved the conversations and getting to know a lot of you. They told me today they are moving in a different direction.”
Humility means to be teachable. It’s the most important trait of great leaders and managers. For years I looked forward to focus groups to reveal the top-of-mind awareness of media among listeners. These groups always reminded us of a listener’s life priorities which never included radio listening! They taught us the correct secular language to use in promos and slogans, and what they remembered versus what we wanted them to remember.
news/talk stations plus the John Fredericks Radio Network. He adds, “This undertaking was never authorized, sanctioned, or endorsed by President Trump or his campaign. Despite several very direct public communications disavowing any affiliation by Trump campaign senior staff, the fake news continued to propagate phony stories, which The Heritage Foundation and their Project 2025 leaders were willing and happy to substantiate. Sources say President Trump made the decision to shut it down himself. Good riddance to yet another grift charade using Trump to raise money.” TALKERS publisher Michael Harrison commented on Fredericks’ statement saying, “It has been disturbing watching the once-honored think tank known for its even-handed academic fastidiousness devolve into what is now perceived as just another fund-raising propaganda machine in the mud-slinging political wars. This is the kind of credibility squandering that damages the true American conservative moment and people’s confidence in all political organizations.”
relief pitcher – joined the afternoon drive show in August of 2022. Beasley Philadelphia cluster manager Paul Blake comments, “Ricky was a fierce competitor on the mound during his 12-year career in Major League Baseball. His grit, toughness, and strong work ethic make him an ideal co-host for our afternoon show on ‘The Fanatic.’ We’re thrilled to announce his renewal.” Bottalico says, “I am happy to be back with Tyrone and ‘The Best Show Ever.’ I will continue to work hard to bring my best every day. As a group, we are striving to be better every chance we get!”
Here’s a cost-effective way to see if you’ve got what it takes. I’m tired of podcasters coming to me in tears after they sign up for services that market their work ‘wherever podcasts are available.’ That’s not a marketing campaign. Don’t you want to be more than a ‘wherever?’ PUMP is your answer.” He says that with PUMP, a selection of the podcaster’s episodes will be broadcast across five states via six prominent radio stations, helping tap into new listener bases, turning casual listeners into dedicated subscribers. Ryan adds, “If you want to turn your DUDcast into a serious PODcast with marketing power, this is how you do it.” 
syndicated program is heard on 14 affiliate stations throughout New England. Money Matters Radio COO Jason Wolfe comments, “The growth of ‘The Financial Exchange’ throughout New England has attracted interest from stations outside of the region and I’m thrilled to be able to add the show to KBNP. Keith Lyons has had 30-plus years of success in the Portland market and I’m looking forward to bringing our brand of business and financial talk to his station.”
Many Americans have been, in the two years since the Supreme Court punted the issue down to the states. For suburban women voters in swing states, it is – by far – the number one issue, per a Wall Street Journal poll. It tipped 2022 midterms and 2023 elections and swung other elections in battleground states.
Airing in more than 40 markets from Los Angeles flagship KBLA “Talk 1580,” SmileyAudioMedia’s “Tavis Smiley” show will be offered free to urban-targeted stations for one week during next month’s Democratic National Convention (8/19-22). The SmileyAudioMedia owner/TALKERS 2023 “Freedom Of Speech” award winner will broadcast from the event’s radio row inside the site of the convention – Chicago’s United Center – and other relevant locations. Smiley tells TALKERS, “Black voters will be at the epicenter of whatever happens in Chicago, a fact made more relevant with the increasing likelihood that Kamala Harris will be the Democratic Party’s presidential nominee. If the Democratic Party hopes to achieve victory in November, it will be because Black voters saved the party and, ultimately, American democracy. To date, the 2024 election has been unpredictable and unprecedented. As the battle between the candidates enters its final stretch, the policies discussed and the decisions made will have a profound and lasting impact on Black America. It’s appropriate that ‘Tavis Smiley’ listeners will be at the center of the action as the conversation occurs.” SmileyAudioMedia syndication manager Rob Wilkins (who can be reached at