Pending Business: Nobody Cut Their Way to the Top
EDITORS NOTE: In addition to conveying a powerful message, the article below by industry expert, consultant and TALKERS contributor Steve Lapa contains a tremendous limited-time opportunity for the readers of this publication to partake in a free offer to receive a valuable radio sales support tool. We strongly suggest that readers involved in any way with radio sales read this article and take advantage of Steve Lapa’s offer at the end of the piece.
By Steve Lapa
Lapcom Communications Corp
President
Radio station personnel could be facing the worst environment – ever!
Endless bankruptcy headlines. Painful personnel cuts. Soaring retail prices. A number of radio companies are struggling, preparing for the worst and there is no cavalry in sight. No matter where we start sorting through the current tsunami of problems, every solution typically ends up in the same place: more income.
I could never understand why we don’t just cut to the chase. It would be a lot more efficient and a lot less painful if we all agreed on one premise – nobody cut their way to the top. Cost conscious, attention to expense detail and planned expansion is one thing… however destroying motivation, morale, passion and attraction for the radio business is fatal. Yet we continue to repeat the same mistakes. What do they say about doing the same thing over and over and hoping for a different outcome?
Imagine if you invented the medium today. Simple advertiser pitch: reach 83-90% of the US population for a CPM lower than your favorite Starbucks drink. Yet, radio still has the never-ending low man on the electronic media totem pole advertising image. Consider all those direct response advertisers who started on radio and “graduate” to TV. Where were the radio sellers partnered with creators focused on performance? It’s a mess, I know. What does it take to power through a mess like the one we are in now? How do we come out the other side generating income for our companies, our families, and ourselves?
Start by looking in the mirror. Re-commit to getting your skills razor sharp and get your focus laser targeted. If you are a seller, manager or owner, re-educate yourself. If you are on the programming or on-air side, passionate about your content, help your sellers and managers. Time to learn the skills necessary to help your team and yourself at the same time. The radio business is becoming so undervalued and distressed, beaten down by too much debt and not enough disciplined, strategic thinking.
Let me step up. I AM WILLING to share my 40+ years of proven sales and management performance system with you for FREE. No risk, no exchange of dollars, because if we do not fix the radio problem NOW, we all go down together. Radio companies are preparing for the worst. Stop waiting, stop hoping. Go to https://3MinutePlanner.com and take advantage of my offer to help. Sellers, managers, owners, new-think programmers and talents, time to mount up and join the radio cavalry!
Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.
December and now hosts a show on the Outkick platform. With Query’s move to middays, the Kevin & Query Show that’s been airing in morning drive becomes “The Wake Up Call With KB and Andy,” as Kevin Bowen is joined by new co-host Andy Sweeney. Urban One Indianapolis operations manager David Wood tells the Indianapolis Business Journal, “While Jake loves working with Kevin, the show is a complete antithesis to his body clock. He’s a huge night owl. It dawned on me, ‘Why don’t I put a known quantity in this noon to 3 p.m. show?’ Everybody knows Jake. He’s well-respected and he’s an entertaining person.” 
Keyshawn Johnson, Jay Williams and Max Kellerman. Their program was cancelled last month. The Post also reports that Chris Carlin and Joe Fortenbaugh will host the 12:00 noon to 3:00 pm program and Harry Douglas and Freddie Coleman are the new 3:00 pm to 7:00 pm co-hosts. Amber Wilson and Ian Fitzsimmons will host the 7:00 pm to 10:00 pm show. 
million reported in Q2 of 2022, primarily due to a $16.8 million increase in non-cash impairment charges to the company’s FCC licenses and investments, partially offset by an increase in other income, net due to a $5.2 million gain on the sale of one of the company’s investments and an increase in the effective tax rate for the current period. Townsquare CEO Bill Wilson says, “I am pleased to share that Townsquare’s digital growth engine continued to drive results in the second quarter, demonstrating its strength and resiliency, as we delivered second quarter net revenue and Adjusted EBITDA that met our previously issued guidance… With its differentiated and sophisticated products and solutions, our Digital Advertising segment was once again our largest driver of growth, increasing second quarter net revenue by 11% year-over-year… The strong cash generation characteristics of our assets allowed us to produce $31 million of cash flow from operations in the first six months of 2023, an increase of $8 million 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 nearly 9% of our total shares outstanding, repurchase and retire approximately $13 million of our Unsecured Senior Notes at a discount, and pay a high-yielding dividend to our shareholders during the first six months of the year. We also ended the quarter with a strong cash balance of $50 million and net leverage of 4.36x, retaining financial flexibility moving forward.”
iHeartMedia’s financial by segment, broadcast radio revenue was $429 million, a decline of 7.2% over Q2 of 2022. Network radio was $122 million (down 4.2%), digital revenue (excluding podcast) was $164 million (down 1.6%), and podcasting revenue was $96.7 million (up 12.9%). iHeartMedia chairman and CEO Bob Pittman says, “We are pleased to report that our second quarter 2023 results reflected Adjusted EBITDA slightly above the midpoint of the guidance range, and more than double the Adjusted EBITDA we generated in the first quarter, and our consolidated revenue were above the guidance range. The continued positive performance of our Digital Audio Group, led by our Podcasting business, and the significantly improved relative performance of our Multiplatform Group during this soft advertising period, are encouraging metrics for us, and we’re seeing indications of improving macroeconomic trends which we expect to have a positive impact for us in the second half of the year, with most of that impact in Q4.”
compared to net income of $3.8 million for the second quarter last year – a decline of 12.3% – although it should be noted that Saga is the only radio company thus far to report net income – as opposed to a net loss – during the second quarter. Saga Communications stock pays dividends and during Q2 of 2023 it paid a quarterly dividend of $0.25 per share on June 16, 2023. The aggregate amount of the quarterly dividend was approximately $1.5 million. To date Saga has paid over $109 million in dividends to shareholders since the first special dividend was paid in 2012. Saga’s balance sheet reflects $34.4 million in cash and short-term investments as of June 30, 2023. The company carries no long-term debt.
Newsmax registered an impressive 88% percent jump in prime time, among all viewers, year over year. Nielsen also reported Newsmax witnessed 62% in total day and 56% in day-time ratings Monday through Friday.” Newsmax CEO Christopher Ruddy states, “It’s clear millions of Americans have made the switch to Newsmax, and they like what they see. They also like our powerhouse lineup starting with Greta Van Susteren every night at 6:00 pm Eastern.”
reach from Edison Podcast Metrics. “The Joe Rogan Experience” is #1 for this period, followed by audiochuck’s “Crime Junkie” at #2, and The New York Times’ “The Daily” at #3. Podcasts hosted by commercial talk radio personalities that made the Top 50 include: Cumulus Podcast Network’s “The Ben Shapiro Show” (#8), Cumulus Podcast Network’s “The Dan Bongino Show” (#21), The Ramsey Network’s “The Ramsey Show” (#22), and Cumulus Podcast Network’s “The Matt Walsh Show” (#42). 
provides ongoing coaching and guidance to their mentee to grow their essential skills and techniques, making them an effective leader in radio. MIW board president Ruth Presslaff comments, “Witnessing the mission of MIW continue to expand and flourish across the country reinforces our commitment to women in the industry and demonstrates the ongoing need for support, guidance and mentorship. We’re delighted to welcome Jen and the Wisconsin Broadcasters Association into the MIW family and look forward to building this amazing network of women in broadcast!”
No, this isn’t about college football or New Year’s Eve. Wait, maybe it is.
(7/28) and terminated his employment on Saturday. iHeartMedia issued the following statement: “After an internal review, Don Geronimo is no longer an employee of WBIG. We take matters of this nature very seriously and this behavior does not align with our core values.” McBride commented to ESPN, “When I heard the comments made about me on the radio show, I felt incredibly insulted and embarrassed. In my 17 years as a professional journalist, I have never been disrespected in such a blatant manner while trying to do my job. Their words were sexist and misogynistic. No woman should experience this in the workplace, and I appreciate the Commanders’ swift response in handling this matter.” For his part, Geronimo stated via social media, “At this time I will not be providing comment on the events of the last few days. I am consulting with my advisers as to my options moving forward, including an accurate reflection of the situation.” 
multiple Tennessee Association of Broadcasters awards as well as a regional Edward R. Murrow Award. Starnes Media Group CEO Dalton Glasscock says, “For Ben Deeter this is a job and passion, not a side hustle. Ben is the only local conservative morning show host in Memphis bringing you the news every day. Ben Deeter is giving you the news to keep your families safe, holding our leaders accountable, and bringing humor and good stories to match. KWAM, with Ben Deeter, leading the charge is the only place to go for news you can count on.”
News Radio Network/FOX News Headlines 24/7 SiriusXM Channel 115. As the Freelance Radio Anchor, you will work under tight deadlines and deliver top-notch newscasts. You have a passion for breaking news and the flexibility to work on a day’s notice. 
Edward R. Murrow Award for her investigative reporting on Baltimore’s 911 system and has been the recipient of multiple Chesapeake AP Awards. She comments, “I am excited to be a full-time member of this legendary news station. I am looking forward to working alongside Shawn Anderson, with his years of experience, as we give listeners the most up-to-date and accurate information they need to make informed decisions as they go about their day.” WTOP director of news and programming Julia Ziegler states, “From the day Anne started at WTOP, I have loved her passion for storytelling. Anne puts our listeners first and is always thinking about how she can help them understand what is going on in their worlds. Our listeners are in great hands with Shawn and Anne each afternoon.”
underestimate time spent with AM/FM radio. While they believe Americans spend 9% of their media time with AM/FM radio, the reality is 15%.” Why is this? The report cites two reasons. First, longtime ad agency executive Bob Hoffman says, “How can professional people who work in an industry that is largely constructed on media behavior be so astoundingly misinformed? The answer is pretty simple… marketers always overestimate the attraction of new things and underestimate the power of traditional consumer behavior.” Second, marketing professor Mark Ritson adds, “There is increasing global evidence that marketers are basing their media choices on their own behavior or that stoked by the digitally obsessed marketing media, rather than actual audience data.” 
& activations. Recent Hofstra University graduate Kassandra Faber joins the company as associate director of affiliate sales. Recent Trinity College graduate Sydney Sperling joins as associate director of affiliate sales. Broadcast pro Jim Davison joins the company as project manager creative services subsidiary, Yamanair Creative. Four-year staffer Liane Sousa transitions from director of affiliate sales to account executive, advertising sales, and four-year employee Matt Wallach is promoted to accounting analyst.
predeceased by her brother Rick Buckley. She founded Dimes Media Corporation with her son Eric Dimes Fahnoe upon the closing of Buckley Broadcasting. Dimes Media, which operates radio stations in San Luis Obispo and King City California, says “Martha grew up in broadcasting beginning in the mailroom of WNEW as a teenager and her success in many capacities was ensured by her engaging personality and interest in her co-workers, clients and the community.” In lieu of flowers the family asks that donations in her memory be made to the Broadcasters Foundation of America or The Living Desertin Palm Desert, CA.
THE Best Bit I’ve Heard This Month was by Gene Valicenti, morning host, WPRO-AM/WEAN-FM, Providence.
was known by millions of listeners of ‘The Bob & Tom Show’ for the indelible comedic characters he played on-air, including Donnie Baker, Kenny Tarmac, and Floyd the Trucker, as well as his spot-on celebrity impersonations. Ron was a much-loved colleague and friend, and we will miss him greatly. We send our sincerest condolences to his family and friends. He made many, many people happy during his more than 20 years with ‘The Bob & Tom Show,’ and we will remember him with love and gratitude.”
he plans to retire from the business in four years at the end of 2027. Patrick’s radio program is nationally syndicated via Premiere Networks and is simulcast via YouTube. The former ESPN personality responded to fans who questioned his decision by saying, “This is a young man’s game. I’m the oldest guy doing this. And I enjoy doing it, but by the end of 2027, that’ll be it. You have my word, so plan accordingly.” 
and 112 million total multiplatform minutes (up 60%), according to Comscore data. Outkick founder (and Premiere Networks syndicated talk radio star) Clay Travis states, “OutKick doesn’t shy away from the most pressing topics in American sports today which is why we have continued to expand our audience every quarter.”
June 2023 PPM Data – Information for the June 2023 survey period has been released for Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford.
division of Krantz Media Group and the U.S. Black Chambers, Inc. A press release states, “‘THE GOOD NEWS’ will ignite a transformative spark, propelling the U.S. Black Chambers, Inc into an unprecedented realm of influence. The highly anticipated USBC Radio Network, launching in August, will seamlessly integrate into the comprehensive USBC Media Network. This united effort, in partnership with KMG Networks-will empower and extend our collective reach, ushering in a future filled with boundless possibilities for all.”
By 2009, I had been making my living consulting and coaching talk hosts for 14 years, but I myself had not yet hosted a talk show. Like Rush Limbaugh before he went-talk, I had lots of on-air time under my belt as a music DJ. And that same skill set contributes to talk radio success: “Play the hits” (topics) and convert Cume to AQH (technique).
qualify for aid knows about its charitable mission and can apply. BFoA president Tim McCarthy adds, “Giving Day is an opportunity for everyone in radio and television to help our colleagues. As broadcasters, we are storytellers. Whether behind the scenes in marketing, sales, or administration, part of the production team, or on-air talent, everyone in the radio and television broadcasting profession has a common goal: to share vital stories with their communities. But who is there to help these essential community members when a natural disaster strikes, or an illness disrupts a family’s financial security and safety? The Broadcasters Foundation of America’s unique mission is to support our professional community during these hard times, when our colleagues are unable to work and struggling to pay basic living expenses.” 
June 2023 PPM Data – Information for the June 2023 sweep has been released for Washington, Boston, Miami, Seattle, Detroit, Phoenix, Minneapolis, San Diego, Tampa, Denver, Baltimore, and St. Louis.