Townsquare Purchases Management Options
Townsquare Media announces that it has bought and retired 3 million options held by certain members of the management team and board of directors for a net purchase price of $3.62 per option. The purchase price reflects the spread between the closing price on April 3, 2024, of $12.36 and the option strike price of $8.74. The options, all of which were set to expire in July 2024, were granted to members of management and the board at the company’s initial public offering in July 2014. This transaction
follows last week’s repurchase of 1.5 million shares from MSG at $9.76 per share, the June 2023 repurchase of 1.5 million shares from MSG at $9.70 per share, and the March 2021 repurchase of 12.6 million shares and warrants from Oaktree Capital Management, L.P. at $6.40 per share. Like last week’s 1.5 million share repurchase from MSG, the purchase price of $10.8 million will be funded entirely with cash on hand. Townsquare CEO Bill Wilson comments, “We are very pleased to share that we were able to buy the IPO options at a net purchase price of $3.62 per option, eliminating the overhang and the shareholder dilution that would have occurred had these in-the-money options been exercised in the open market before they expired this July. The members of management and the board that were involved in this transaction have been with Townsquare for over a decade, demonstrating that our longterm incentive plan was, and continues to be, effective in retaining top talent. In total, our management team owns approximately 11% of shares outstanding today and are well aligned with the company’s investors to build shareholder value.”
in community involvement, along with multiple merit awards. The annual MAB Broadcast Excellence Awards gala was held on Saturday, April 6 at the Sound Board inside MotorCity Casino Hotel in Detroit. WJR program director Ann Thomas states, “Thank you to everyone associated with the Michigan Association of Broadcasters for this tremendous honor. As you can imagine… because WJR is more than a hundred years old, the archives in the Golden Tower of the Fisher Building are amazing. While doing some spring cleaning the other day, I came across boxes of awards and plaques from non-profit organizations applauding our work and ‘thank you’ notes from community leaders and listeners. It reminded me that all of us here in this room stand on the shoulders of the broadcasting greats who came before us. They set the bar for excellence, and I am grateful that in 2024, the talent, producers, engineers, production, digital, and sales teams at WJR are still working to be the best in the business.”
CEO/president, Gray Television; Mary Menna, vice president & market manager, Beasley Media Group; and Carlson Mozdiez, vice president, digital business operations, Audacy; alongside moderator Sarah Foss, chief technology officer, Audacy, will engage in a candid conversation exploring the evolving landscape of sports business and the significant role women play in shaping its future. The panel will dive deep into the emergence of multiplatform sports coverage and how it has reshaped the business landscape of the sports industry, and how media professionals have leveraged multiplatform sports to enhance audience engagement and reach a diverse set of viewers. 
Having written thousands of commercials and promos, I’ve become a copy connoisseur. And, admittedly, a tough grader when it comes to delivery. Sell me and you’re good.
The work-life balance concept is up for a new spin. Let us start in California.
for participating podcasts) and, while not a lot changes from last month, NPR’s “NPR News Now” took over the #1 spot from The New York Times’ “The Daily,” which falls to #2. Cumulus Podcasts Network’s “The Dan Bongino Show” rises one spot to #10, and FOX Audio Network’s “FOX News Hourly Update” climbs two places to #12. 
It seems every hour Nielsen and Pierre Bouvard of Cumulus fame (formerly of Westwood One) put out a release stating that radio is just fine, thank you. Radio is more persuasive than TV, direct mail, streaming and print. Radio is a proven success for over 100 years. Most of the buildings housing Procter & Gamble were built on radio – not TV – advertising success. Happily, P&G realized radio’s clout and is now a dominant radio advertiser – again!
Johnson says, “I look forward to being a frequent guest on Tony’s show. This opportunity to speak directly to the American people about the most important developments in politics, policy, and culture will be important as we chart the path forward for Congress in these historic times.” Salem SVP Phil Boyce comments, “Salem is honored to kick off this important program with Speaker Johnson as guest host, who has worked tirelessly for conservative values since he took over the Speaker’s position. Tony Perkins, a nationally recognized expert in public policy, will be an excellent co-host, as the show deals with the important topics facing the House and the Speaker’s initiatives in getting his agenda passed.” Perkins adds, “I look forward to kicking off this new program with candid conversations with the House Speaker that will take listeners beyond the headlines and soundbites and inform them about what is really happening in our country and what citizens can do to influence the direction of our nation.” The show will be carried by Salem-owned news/talk stations nationwide, as well as affiliates of the Salem Radio Network. It will also air on the Salem News Channel weekends at 10:00 am ET, and 8:00 pm ET on Saturday and Sunday, as well as on demand on Salem Podcast Network, at Townhall.com, and on SNC.TV. SRN VP of news and talk Tom Tradup will serve as executive producer. Radio stations interested in the show can contact their SRN affiliate representative.
show produced at KLIN is titled after is best-selling book, ONESHOT. ONELIFE. – The Ultimate Success Formula To Help You Win At Anything In Life (Morgan James Publishing, 2018). NRG general manager Ami Graham says, “Doug has been a friend of KLIN for years. During your drive home, Doug will tackle the issues that matter to our community through commentary, guests, and listener engagement. We are thrilled to have him on our airwaves every weekday.” Fitzgerald says, “I am excited and honored for the opportunity to serve Lincoln and Nebraska on such an iconic station as KLIN and during a time slot where great hosts have broadcast over the years. My vision is to address the cultural issues that impact our city and state through the lens of the values that make Nebraska ‘The Good Life.’ To me, ‘Drive Time Nebraska’ will be like taking a road trip with your family or good friends… having great conversations and fun, along with getting on each other’s nerves now and then. In the end, you still make it home together.”
the station. The piece notes that LaVicka said co-host Theo Dorsey will remain with the station hosting his own show beginning on Monday (4/8). The Post reports that GKB West Palm Beach general manager Stephanie Price issued the following statement: “LaVicka is still a teammate, and we are working with him on his future. We are always on the lookout for talent who can bring a new perspective to the market. We are putting more resources into both our radio and digital platforms to engage and reach the most fans, as consumption continues to evolve, as well as provide our partners more opportunities to reach those fans.” 
Suzanne Scott comments, “Greg is a true original whose trademark political and cultural commentary, humor and gifted writing has deeply connected and grown with our audience for more than 17 years. Upon launching ‘Gutfeld!’ three years ago, he rapidly disrupted the status quo to become the most-watched host in the genre with more viewers tuning in to his show than any other late-night program on television. We are proud to be the home of Greg, his unparalleled analysis and late-night’s highest-rated program for many years to come.” Gutfeld states, “Since joining the network in 2007, FOX News has given me the freedom to be unabashedly myself and, in turn, deliver a distinct experience for our audience. There aren’t many platforms that allow this type of creative independence and I’m proud to be a part of Suzanne’s team.”
April 15, when he joins Brey full time. WTMJ assistant program director Michael Spaulding says, “Brian is a trusted radio veteran with almost two decades of experience under his belt. His unique ability to blend news and entertainment brings both fun and a sense of reverence to the station. During his time at WTMJ, 
Brian has taken every challenge thrown at him and excelled. He steps in when needed, adds value to every show he fills in on, and lives the WTMJ and GKB brands. His addition to ‘Spanning the State’ alongside Kristin Brey just made sense.” Brey comments, “When we decided to launch ‘Spanning the State’ without a permanent co-host, I remember thinking that I would rather do the work of two people and hold out for the right person. A week after we premiered, Brian filled in as my co-host, and the chemistry was undeniable from the moment we turned our mics on. His experience, warmth, humor, and curiosity will take this show to the next level as we create something unique that appeals to people across Wisconsin.” Noonan says, “Without sounding too sappy, I could not be more excited to join Kristin Brey as we build ‘Spanning the State’ to tell stories that are uniquely Wisconsin. I’m proud to play a small part in helping WTMJ evolve and continue to be ‘Wisconsin’s Radio Station.’”
previously announced Exchange Offer and Consent Solicitation in which Cumulus offered to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) for new 8.750% Senior Secured First-Lien Notes due 2029 (“New Notes”) to be issued by Cumulus. The company has further extended the expiration time from 5:00 pm, New York City time, on April 2, 2024, to 5:00 pm, New York City time, on April 9, 2024.
Spacciapolli states, “I first want to congratulate Dave on an incredible career. It has been a privilege to work with him over the past two years. We’re delighted to promote PJ, a mainstay at KDKA for the last 35 years. The trust he has built within our organization and with listeners and partners makes him a great fit to steward this iconic brand into the future as we grow on many levels.” Kumanchik, who has worked in multiple capacities at both KDKA News Radio and “93.7 The Fan” (KDKA-FM) as news producer and editor, morning show producer, sports producer and program director, comments, “I look forward to working with our leadership team, including Michael, to boost the momentum we have created at KDKA News Radio in the past couple of years. As the Voice of Pittsburgh, we will continue to provide news-driven talk that encourages interactions from our listeners.”
originate content using FM boosters and is intended to do so without raising the potential for harmful co-channel interference to the reception of the primary station’s signal outside the coverage area of the booster station or to previously authorized secondary stations.” GBS filed a petition on March 13, 2020, proposing to give FM broadcasters the option to use boosters to originate programming to specific zones within their stations’ service area, proposing to allow program origination for a limited period totaling three minutes per hour… During that limited period, GBS proposes that the FCC allow the booster to originate geo-targeted advertisements, promotions for upcoming programs, and other hyper-localized content, suggesting it would benefit small and minority-owned broadcasters, because potential advertisers that currently find it prohibitively expensive to buy spots reaching a radio station’s whole service area might purchase lower-cost airtime reaching a more targeted area, thereby becoming a new source of station revenue.”
don’t need to manage multiple participants such as a solo contributor or reporter in the field. Comrex says that Gagl is simple enough for anyone to use and doesn’t require any specialized hardware or software on the remote end for implementation. With a computer or smartphone plus a headset, high-quality audio can be transmitted bidirectionally with minimal latency providing a simple way to get anyone on the air. Hotline dramatically improves the quality of a standard cell phone call for on-air use. Gagl + Hotline provides a ten-digit telephone number with each Gagl + Hotline subscription. A guest or reporter can call the number using an AT&T, T-Mobile or Verizon cell phone. The caller’s audio will be presented within the Gagl interface in HD Voice quality for clean, clear full fidelity for use on-air. Acquiring high-quality audio from remote locations is essential for creating compelling radio. Providing flexibility for guests who can’t come into the studio was a driving force behind Gagl’s creation. Gagl Solo, Gagl + Hotline, and Comrex’s suite of broadcast reliable products will be on display at the NAB Show in Vegas April 14-17. Be sure to visit Comrex at Booth C2234 in Central Hall.
in population take place in the U.S. – with growth often seen in southern markets – the ratings giant adjusts its rankings. Among the notable changes are the Dallas-Fort Worth market leapfrogging San Francisco to the #4 market and San Francisco now at #5. Other markets moving up include Miami-Fort Lauderdale-Hollywood to #11 and San Diego to #18. 
quarters, according to Nielsen Media Research. FNC adds that its primetime lineup sweept cable news every hour. “The Ingraham Angle” (7:00 pm ET) finished the quarter averaging 2.2 million viewers and 222,000 in the 25-54 demo. “Jesse Watters Primetime” (8:00 pm ET) delivered 2.8 million viewers and 284,000 in the 25-54 demo. “Hannity” (9:00 pm ET) remained dominant, nabbing 2.4 million viewers and 266,000 in the 25-54 demo, easily winning the timeslot and topping CNN and MSNBC in both categories. And “FOX News @ Night” (10:00 pm ET) delivered 1.2 million viewers and 187,000 in 25-54 demo.
Podcasting deserves a larger role in media plans as opposed to “test and learn” experimental buys. 135 million Americans, 47% of persons 12+, are reached monthly. Among demographics such as persons 18-34, 18-49, and 25-54, monthly reach is in the low 60% range; 2) It is feasible to consider shifting TV budgets to podcasting given that podcast 18-34 reach performance is as big as TV; 3) The ratio of monthly audiences who also listen weekly is an excellent measure of podcast habituation. At present, 71% of the monthly female podcast audience also listen weekly. This is the strongest female podcast habituation in the last decade; and 4) Currently, podcasts only represent 1% of total national ad spend, per Guideline’s Standard Media Index reporting. At the dawn of cable TV, legendary BBDO media chief Arnie Semsky created the “5% solution,” which stipulated that brands devote 5% of media budgets to cable. 5% is enough of allocation to generate meaningful impact. Semsky was prescient. His brands hugely benefited from taking an early, bold, and strong position in a growing new medium, a lesson for the marketers of today when it comes to podcasts. 
consumer behavior and technology adoption across smart platforms. Marketers and media buyers turn to these insights for important media trends in key channels such as radio, streaming audio, podcasts, social media, and more. Audacy will host a webinar on April 3 with head of research & insights Idil Cakim and Edison Research president Larry Rosin, who will share key trends from The Infinite Dial 2024, including: Media consumption and device adoption, in-car listening habits, podcast trends among key demographic groups, and observations and advertiser insights.