Industry News

NAB Announces 2024 Crystal Award Winners

The National Association of Broadcasters announces the 10 winners of the 37th annual NAB Crystal Radio Awards that recognize radio stations for their exceptional year-round commitment to community service. This year’s 2024 NAB Crystal Radio Award recipients were chosen from 50 previously announced finalists. They include news/talk KFI, Los Angeles; sports talk KMVP-FM, Phoenix; news/talk KSL-AM/FM, Salt Lake City; talk WHPT-FM, Tampa Bay; and news/talk WNRP-AM, Pensacola. See the complete list of winners here.

Industry News

TALKERS News Notes

Longtime WIBC-FM, Indianapolis talk radio host Tony Katz is entering into national syndication via Key Networks, beginning April 22. “Tony Katz Today” will air live Monday through Friday from 12:00 noon to 3:00 pm ET from Urban One’s news/talk WIBC-FM and a weekend program is also available for air on Saturday or Sunday.

iHeartMedia and Charlamagne Tha God’s The Black Effect Podcast Network announces a new original series titled, “Family Therapy: The Podcast,” hosted by psychotherapist Elliott Connie. It will document a family’s journey to healing through live group and individual therapy sessions. President of creative development and production Dollie S. Bishop says, “We are excited to announce ‘Family Therapy: The Podcast’ and share this incredible journey with listeners. Elliott Connie is a brilliant counselor, and our hope is that this series will entertain, educate and empower people to prioritize mental wellbeing and strengthen familial bonds.”

Audacy Podcasts adds a new show from Puck, the new media company focused on putting journalists at the center of its business model, with “Fashion People,” hosted by Lauren Sherman, a leading voice in the fashion community and writer of Puck’s private email “The Line Sheet.”

A new podcast from New England Public Media uses a mix of storytelling, psychological insight, and societal commentary to examine the stories we don’t tell, what they say about our world, and what they do to our minds. “The Secrets We Keep,” is hosted by veteran NEPM reporter Karen Brown and uses the lens of secrets to explore societal taboos and stigmas around sexual orientation, abortion, genetic origins, family scandals, and money – through the voices of secret-keepers, and those kept in the dark.

Industry News

Yesterday’s (4/16) Top News/Talk Media Stories

The U.S. considers sanctions against Iran for its attack on Israel; the hush money case against former President Donald Trump; the presidential race; inflation and the state of the U.S. economy; China is accused of fueling U.S. fentanyl crisis; SCOTUS hears arguments on validity of obstruction charges against January 6 rioters; the move to oust Mike Johnson as Speaker of the House; Mayorkas impeachment articles head to the Senate; a Boeing whistleblower to testify before Senate subcommittee today; and USC cancels a graduation speech by its 2024 pro-Palestinian Muslim valedictorian over safety concerns were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

Erica Farber Honored with MIW’s Inaugural “Impact Award”

Mentoring and Inspiring Women in Radio, Inc honors RAB president and CEO Erica Farber with the inaugural “Impact Award.” This honor is “dedicated to honoring a woman who has effected positive change on multiple fronts. A true champion of service, this individual actively engages with impactful organizations, generously contributing their time, wisdom, network, and resources. They are deeplyim involved, consistently doing the work necessary to drive meaningful change.” Farber’s long and storied broadcasting career includes her work leading the RAB for the past 12 years. MIW board president Ruth Presslaff says, “What more can be said about Erica that hasn’t yet been said? She is a strategic thinker and true trendsetter who gives generously of her time and wisdom. MIW is a better organization because of her.  The industry has been enriched in countless ways because of her. What an impact this woman has made!” Farber comments, “I am deeply honored. Being recognized by such influential women in the industry is incredibly meaningful and humbling to me. I owe immense gratitude to the mentors and inspirational women who have supported and uplifted me along the way. They are the foundation of my success. My heartfelt thanks go to Ruth and the MIW Board, and to all of you who share my passion for radio and the impactful work we are privileged to do every day.”

Industry News

Round One of March PPMs Released

imThe first of four rounds of ratings information from Nielsen Audio’s March 2024 PPM survey has been released for 12 markets including New York, Los Angeles, Chicago, San Francisco, Dallas, Houston, Atlanta, Philadelphia, Nassau-Suffolk (Long Island), Riverside-San Bernardino-Ontario, San Jose, and Middlesex-Somerset-Union (New Jersey). The survey covered February 29 through March 27. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In New York, Red Apple Media Group’s news/talk WABC rises two-tenths to finish with a 4.0 share (weekly, 6+ AQH share) that lifts it to the #9 rank in the market. iHeartMedia’s news/talk WOR is steady with a 1.6 share and the #20 rank, while Audacy’s all-news WINS-FM adds one-tenth for a 4.6 share good for the #5 rank. In Los Angeles, iHeartMedia’s news/talk KFI inches up one-tenth for a 5.5 share that keeps it locked into the #3 rank. In Chicago, Nexstar Media Group’s WGN-AM dips three-tenths, finishing with a 3.2 share and the #9 rank, while Cumulus Media news/talk WLS-AM falls six-tenths to a 1.4 share good for the #25 rank. Audacy all-news WBBM-AM/WCFS-FM is steady with a 5.4 share but falls back to the #4 rank. See Mike Kinosian’s complete Ratings Takeaways from this group of markets here.

Industry Views

NAB Show: Directing Real People on Camera

By Holland Cooke
Consultant 

imIf you’re looking to jump-start – or optimize – your video interview technique, this session alone was worth the trip to Las Vegas. Washington-based video content strategist/producer/interviewer Amy DeLouise and cinematographer/gaffer Anne Saul delivered a soup-to-nuts “Boot Camp” session to an overflow crowd.

For the decks, hit AmyDeLouise.com, click Slide Decks then Real People Boot Camp, parts 1 and 2. You can devour an impressive tutorial of production techniques, including specifics about equipment and how-to-use-it.

Even if you’re just doing radio or podcast interviews, Amy offered some useful tips:

“Nervous Speaker Technique”: Before the interview, chat ‘em up, perhaps asking for a personal anecdote, i.e., “Why did you decide to become a _____?” If you are shooting video, do the B-roll and walk-and-talk shots first. Then, when they’ve gotten used to you and the set-up, start the interview. “Worst case: Let them take a break, ‘Go do some emails,’ then resume in 20 minutes.”

“The Contradict Me Technique”: Because “some speakers are very reserved, they won’t show emotion unless they feel they need to correct your misunderstanding.” So, bait them: “Isn’t A.I. just a gimmick?”

“The Shorter Answer Technique”: Some speakers have a LOT to say,’ so Amy says let them get it out of their system, THEN ask “How would I explain this to my children?”

“Two Do-Over Techniques”: If you want to re-ask a question, fib: “The part about X was really great. But we had a little bit of noise, do you mind if I ask you that one more time?” Or “lean in as if you didn’t quite hear the answer, and they will repeat it;” a ploy which “only works for the last part of what they said.”

“The Finish My Sentence Technique”: Amy says “When all else fails, ask ‘Finish this sentence: The biggest value we bring at ABC Company is…’” 

Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of “Close Like Crazy: Local Direct Leads, Pitches & Specs That Earned the Benjamins,” and  The Local Radio Advantage: Your 4-Week Tune-In Tune-Up,” and “Confidential: Negotiation Checklist for Weekend Talk Radio.” Follow HC on Twitter @HollandCooke and connect on LinkedIn.

Industry News

SBE Releases Station Self-Inspection Guides

The Society of Broadcast Engineers is releasing new Broadcast Station Self-Inspection Guides for FM and TV broadcast stations. The SBE partnered with the National Association of Broadcasters to produce the documents, which are the first part of a planned series to cover all broadcast services. These Guides are designed to aid stations and Alternative Broadcast Inspection Program inspectors in evaluating a broadcast station’s compliance with FCC rules and regulations. The Guides will be available for download on April 16 from the SBE website under the Legislative/Regulatory tab after the 2024 NAB Show. They are free to SBE members, and available for purchase by non-members.

Industry News

Former OK City Talk Host Carole Arnold Dies at 85

The Oklahoman reports that former Oklahoma City talk radio host Carole Arnold died last Friday at age 85 after a long battle with pulmonary fibrosis. Arnold worked for then-Clear Channel Communications for about 20 years, including eight as a host at news/talk KTOK. She left KTOK in 1996 and later worked at KNOR, Norman and KOMA, Oklahoma City (now KOKC). Read the full obit here.

Industry News

Yesterday’s (4/15) Top News/Talk Media Stories

Former President Donald Trump’s hush money trial begins in New York; Iran’s attack on Israel and the Israel-Hamas war; House Speaker Mike Johnson’s attempt to provide U.S. aid to Israel and Ukraine; SCOTUS to hear January 6 obstruction charges case; the presidential race; U.S. migrant crisis; SCOTUS gender-affirming care ruling; and the selloff in stocks on the world’s financial markets were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

Audacy Names Ryan Hurley WFAN, New York PD

The new brand manager for Audacy’s sports talk WFAN, New York is Ryan Hurley, who comes from a two-decade stint with crosstown competitor “ESPN New York” (WEPN-FM). Hurley takes over programming WFAN and the Infinity Sports Network (formerly CBS Sports Radio) from Spike Eskin,im who is returning to Philadelphia as a host at the company’s “SportsRadio 94WIP.” Audacy New York market president Chris Oliviero says, “Ryan knows radio, sports and New York, making him a triple threat to take the reins of WFAN, which continues to be the city’s most influential and dominant sports platform. In addition, with Infinity Sports Network, Ryan will have a major impact on the sports conversation nationwide. All of us at Audacy are excited to welcome him to the team.” Hurley, who joined ESPN New York as an intern in 2004 after graduating from Hofstra University and worked his way up to PD in 2017, says, “I am excited and grateful to have the opportunity to join this legendary station. The term ‘dream job’ can get thrown around a lot, but as someone who grew up listening to ‘The Fan’ religiously, that is exactly what this is. There is an incredible team here led by Chris Oliviero, and I look forward to this journey ahead with them.” Additionally, David Mayurnik has been named assistant brand manager of WFAN and Infinity Sports Network and will report to Hurley.

Industry News

WLS-AM, Chicago Celebrates 100 Years of Service

Cumulus Media news/talk WLS-AM celebrated 100 years on the air on Friday (4/12) and over the weekend. The station launched on April 12, 1924, at 6:00 pm. The station aired a two-part special hosted by Jeff Davis on Saturday and Sunday from 4:00 pm to 8:00 pm. Cumulus Chicago viceim president and market manager Marv Nyren says, “WLS is bigger than a destination on your radio dial – it’s a Chicago institution and treasure. 100 years ago, radio was simply sound communication via radio waves but there’s nothing simple about the impact of WLS on Chicago. WLS has been a neighbor, a friend, and a mentor for people in Chicagoland. It’s been a place where people can go for entertainment and information – and it’s been a companion to the biggest moments in history. We are excited to usher in WLS-AM’s next 100 years with Chicago’s best audio content on-air, online, on-demand, and onsite.”

Industry News

Urban One Receives Non-Compliance Notice from NASDAQ

Urban One reports that it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC on April 8 notifying the company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K forim the fiscal year ended December 31, 2023, with the Securities and Exchange Commission. Urban One now has 60 calendar days, or until June 7, 2024, to submit a plan to regain compliance. If Nasdaq accepts the compliance plan, the Nasdaq staff may grant the company an exception of up to 180 calendar days from the filing’s due date, or until September 11, 2024, to regain compliance. Urban One says it is working diligently and expects to file its 2023 Form 10-K within the 60-day period, which would eliminate the need for it to submit a formal plan to regain compliance.

Industry Views

Pending Business: Dizzying Media Headlines

By Steve Lapa
Lapcom Communications Corp
President

imThe media headlines are dizzying these days, yet they all share one common thread. See if you can solve this puzzle.

1. The “Golden Batchelor” is getting divorced, three months after tying the knot.

2. Netflix is changing their film strategy, that according to The New York Times, may mean fewer big advances to stars.

3. NCAA Women’s basketball final delivered more TV viewers than UConn’s back-to-back championship finale vs. Purdue.

4. Retail media networks are real and could replace terrestrial radio as the true purchase influencer.

These headlines reflect what great radio programmers learned a long time ago, and what smart sellers practice every day. The concept is elegantly simple: give the people what they want, and the rest will take care of itself.

The “Golden Batchelor” was targeted at the 55+ audience. The biggest demographic watching traditional TV. The finale drew over 6 million viewers and gave millions of seniors hope for romance at any age. Give the people what they want, and the audience and advertisers followed. The breakup, well maybe that leans more Dr. Phil, and he is starting his own network!

Netflix has a new film boss, Dan Lin, and according to a recent article in The New York Times, he wants the Netflix film lineup to have a wider appeal to more of us 260 million Netflix subscribers. Sound familiar? Give a bigger share of the audience more of what they want.

Pioneering radio programmers learned that strategy before Netflix was a business model.

Start with Top 40 music radio, go to the all-news model and park your pick on your favorite pioneering talk radio talent. Listeners got what they wanted, as audience and advertisers followed.

Nearly 19 million watched as Caitlin Clark tried one last time to drive her team to victory. Her final push wasn’t enough to defeat a determined South Carolina team. It didn’t matter to the millions who tuned in and the advertisers who were smart enough to jump on board. Give the fans a superstar from Iowa named Caitlin and an audience of millions will follow.

Don’t look now, but that old-school pitch of radio being the final purchase influencer as the radio plays in the car on the way to the store, is fading fast. I can’t tell you how many times I made that classic pitch, until I heard “Attention ______ shoppers” as I pushed my cart down the aisle.

Retail media networks are now online as well as “on-the-air” in store, and we are spending more and more time shopping online.

What does it all mean to you, the seller? Simple! Just find what your advertisers want and sell it!

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.

Industry News

Cumulus Extends Exchange Offer Again

Cumulus Media’s subsidiary, Cumulus Media New Holdings Inc., has further extended the Expirationim Time in its previously announced Exchange Offer and Consent Solicitation, in which it is offering to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 for new 8.750% Senior Secured First-Lien Notes due 2029, to April 16, 2024 at 5:00 pm New York City time. As of Friday (4/12), approximately $15 million aggregate principal amount of the Old Notes had been validly tendered pursuant to the Exchange Offer and Consent Solicitation and not withdrawn.

Industry News

KYW, Philadelphia to Present Attorney General Primary Debate

Audacy all-news KYW-AM/FM, Philadelphia is hosting a primary debate moderated by award-winning anchor Ian Bush leading up to the Pennsylvania attorney general election. Democrats Keir Bradford-imGrey, Eugene DePasquale, Joe Kahn, Jared Solomon and Jack Stollsteimer will face each other live on April 17 from 8:00 am to 9:00 am during KYW Newsradio’s “Philadelphia’s Morning News with Ian Bush & Carol MacKenzie.” All candidates will be on stage in the KYW Newsradio studio space, except DePasquale, who will join remotely via Zoom. KYW brand manager Kristina Koppeser says, “We’re proud that KYW Newsradio continues to be the place for comprehensive coverage of Pennsylvania politics, especially in such a crucial election year. Giving voters details on candidates and their platforms is a vital part of our mission to inform.”

Industry News

Audacy Partners with Voice AI Firm ElevenLabs

Audacy announces it is partnering with voice AI research and deployment company ElevenLabs to “augment its existing programming and production workflows. Through ElevenLabs’ market-leadingim synthetic voice capabilities, this partnership will create a robust library of voices for Audacy to deliver custom experiences for listeners and advertising clients. Audacy will infuse creator-led ideas and concepts with ElevenLabs’ technology to further bolster its programmers’ and talents’ unique ability to engage deeply with audiences at scale.” Audacy EVP and head of programming Jeff Sottolano says, “By experimenting with ElevenLabs’ synthetic voice capabilities, we’re transforming how we connect with our listeners and create value for our advertising partners. By streamlining workflows, this collaboration will empower creators with more bandwidth to focus on the exceptional content and listening experiences our audiences love and expect from Audacy.”

Industry News

Key Networks Names Ron Russo President of Sales

Key Networks names Ron Russo as president of sales. Russo most recently served in the same capacity for Westwood One. Key Networks CEO Rob Koblasz says, “Ron Russo is highly respected inim the radio industry and across the agency community, having run sales for the second largest radio network in the country. This is a significant addition to our executive leadership team and brings deep experience, tenure, and valuable industry and agency relationships to our bench at Key Networks. We thank outgoing president of sales Jason Wilberding for his contributions and wish him well in the real estate endeavors he is leaving to pursue.”

Industry News

Top News/Talk Media Stories Over the Weekend

Iran’s missile and drone strike against Israel; the hush money case against former President Donald Trump begins this week in NYC; the presidential race, including President Joe Biden’s ballot issues in Ohio and Alabama; House Speaker Mike Johnson’s push for aid to Israel and Ukraine; Marjorie Taylor Greene’s efforts to oust House Speaker Mike Johnson; the U.S. migrant crisis; the stabbing in Sydney, Australia that left seven dead were some of the most-talked-about stories in news/talk media over the weekend, according to ongoing research from TALKERS magazine.

Industry News

TALKERS magazine Publishes the 2024 Heavy Hundred

TALKERS magazine publishes the 2024 edition of our long-running feature the 100 Most Important Radio Talk Show Hosts in America, also known as the Heavy Hundred. Talk hosts making this prestigious list are nominated and voted on by the TALKERS magazine editorial board based on hard and soft factors including (in alphabetical order): courage, effort, impact, longevity, potential, ratings, recognition, revenue, service, talent, and uniqueness. TALKERS editors acknowledge that compiling this annual list is as much art as science and that results are arguable. TALKERS magazine VP/executive editor Kevin Casey says, “Putting together this list of the 100 Most Important Radio Talk Show Hosts in America never gets any easier. The number of hard-working talk radio hosts across the country make winnowing this down to merely 100 a painstaking task. That said, the editorial board believes this year’s Heavy Hundred truly reveals a snapshot of the makeup of the American talk radio industry in 2024. Congratulations to those hosts making this year’s Heavy Hundred.” See the list here.

Industry News

WPHT, Philadelphia Launches Live “Politics and Pints” Series

im

Audacy’s Talk Radio 1210 WPHT, Philadelphia launched the first in a series of live presentations titled, “Politics and Pints,” hosted by its legendary midday (12:00 noon – 3:00 pm) personality Dom Giordano. It took place at the Zlock Performing Arts Center at Bucks County Community College in Newtown, PA last evening (4/12) between 7:00 pm and 8:15 pm. The event featured U.S. Senator Rand Paul (R-KY) as its inaugural guest, pictured above (r) in conversation with Giordano (l). A cash bar for soft drinks, beer, wine and cocktails available for purchase was set up in the lobby of the Center. Tickets for the successful presentation were $50.00+fees and included a signed copy of Senator Paul’s book: Deception: The Great COVID Cover-Up.

Industry News

Salem Launches “This Week on the Hill”

im

Pictured above at the Salem Media Group studios in Washington, DC are (from l-r): Family Research Council president (and program host) Tony Perkins, U.S. House Speaker Mike Johnson (R-LA), and Salem Radio Network v.p./news and talk programming (and program executive producer) Tom Tradup. Early this morning, they taped the first edition of the new, hour-long weekly news program, “This Week on the Hill,” that premieres this weekend on the Salem Radio Network with additional releases on the Salem News Channel, Salem Podcast Network and on TOWNHALL.com. Topics covered this weekend include Johnson’s invitation to Israeli Prime Minister Benjamin Netanyahu to address a joint session of Congress, Marjorie Taylor Greene’s “motion to vacate” the Speaker’s position, the battle over reauthorization of the FISA program, and the latest controversy over abortion laws in America. Tradup states, “We are so proud to have Speaker Johnson as the centerpiece of our ‘This Week’ program. He brings a depth of experience that delves beyond the surface skirmishes in Congress and really gives our audience eye-level insight that only a man two-heartbeats from the presidency can offer.”

Industry News

KNX, Los Angeles to Host Mayor Karen Bass at Town Hall

Audacy all-news KNX, Los Angeles is presenting a live, one-hour town hall broadcast featuring Los Angeles Mayor Karen Bass at the Audacy SoundSpace on Wilshire Boulevard on Tuesday (4/16) atim 7:00 pm. KNX says, “In her first broadcast town hall as mayor of Los Angeles, Karen Bass takes the stage at KNX News to take questions from Angelenos on a broad range of public safety-related topics the day after her State of the City address. As the City searches for a new chief to shape the future of the LAPD, Mayor Bass will hear from constituents about what they want that future to look like.” The show is being aired on KNX News 97.1 FM, the Audacy app, and streamed live on YouTube.

Uncategorized

WGN and the Blackhawks Announce Three-Year Extension

The Chicago Blackhawks and Nexstar Media Group’s WGN-AM, Chicago announce a three-year extension to their broadcast rightsholder deal. The agreement will keep Blackhawks hockey on WGNim through the 2026-27 National Hockey League season. Troy Murray and John Wiedeman have also agreed to a three-year extension for live game coverage with pregame, intermission and postgame shows led by Joe Brand. WGN VP/GM Mary Sandberg Boyle comments, “The Chicago Blackhawks are a premium sports franchise, and we take pride in being able to deliver exciting Blackhawks hockey to the best fans in the NHL, wherever and however they choose to listen. In addition to providing high-quality, live game broadcasts, the collaborative partnership between WGN Radio and the Chicago Blackhawks ensures that fans and partners will be superserved for every game.”

Industry News

Paul Rotella Recognized by the PDFNJ

In an acknowledgment of his tireless dedication and impactful leadership, the Partnership for a Drug-Free New Jersey (PDFNJ) is honoring Paul S. Rotella, Esq. with the esteemed J.P. Miele Lifetime Achievement Award at its 30th Angel of Hope Gala on May 15, 2024, at the Liberty House in Jersey City.im This tribute recognizes Rotella’s pivotal role in combating substance misuse during his 14-year tenure as president and CEO of the New Jersey Broadcasters Association (NJBA). Rotella says, “One of my first official acts as the chief executive officer of the New Jersey Broadcasters Association was to aid and assist the Partnership for a Drug-free New Jersey and its ongoing mission. Now, more than ever, the good work of the Partnership is essential to educate the public in combating the insidious scourge drug abuse is on our society and community. This work remains one of our most worthwhile endeavors and I’m so very proud of their initiatives. The Partnership’s vital objective is strengthened through relationships with all community organizations across the Garden State, like the NJBA, so as to continue to be successful. It’s a privilege to be associated with the partnership and its leadership!”

Industry News

Top News/Talk Media Stories for Week of April 8 – 12

The presidential race was the most-talked-about story in news/talk media during the week, landing atop the Talkers TenTM. At #2 this week was abortion, including the Arizona Supreme Court’s ruling outlawing most abortions and former President Donald Trump saying he would not sign a federal law outlawing abortion. And at #3 this week was the state of the U.S. economy. The Talkers TenTM is a weekly chart of the top stories and people discussed in news/talk media during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Industry News

New Local Show Debuts on Sports Talk WSSP, Milwaukee

Audacy sports talk WSSP-AM, Milwaukee “1250 AM The Fan” is launching a new local weekday show hosted by Steve “Sparky” Fifer called “Wisconsin Sports Daily” airing from 2:00 pm to 5:00 pm,im beginning Monday (4/15). Fifer says, “I’m super excited to be hosting ‘Wisconsin Sports Daily,’ and I can’t wait to talk about our favorite sports teams with our loyal listeners. The opportunity to host great guests to add to our conversations is a plus. Let’s bring some passion back into sports talk radio in Milwaukee!” Fifer serves as assistant program director and on-air host at 1250 AM The Fan. He also hosts a Milwaukee Bucks postgame show and numerous podcasts, including “Curd & Long,” “Green and Growing” and “Spare/Time Bowling Show.” He also helps run Audacy’s BetQL Network in other markets.

Industry News

Cumulus Announces Further Extension of Exchange Offer

Cumulus Media’s subsidiary Cumulus Media New Holdings Inc further extends the expiration time in its previously announced Exchange Offer and Consent Solicitation in which it offers 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”). The new expiration time is 5:00 pm New York City time on April 12, 2024. As of April 9, approximately $15 million aggregate principal amount of the Old Notes had been validly tendered pursuant to the Exchange Offer and Consent Solicitation and not withdrawn.

Industry News

Yesterday’s (4/10) Top News/Talk Media Stories

The presidential race; inflation ticks up, the stocks selloff and the Fed’s stance on interest rates; former President Donald Trump’s legal battles; the Arizona abortion law; President Joe Biden’s Pacific leaders summit; the Israel-Hamas war and U.S.-Israel relations; the GOP battle over FISA reform; the White House plan to close “gun show loopholes”; and the severe weather affecting the Southeastern U.S. were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

Formal Campaign Finance Complaint Filed Over Ted Cruz Podcast

Two organizations – End Citizens United and the Campaign Legal Center – have filed a formal campaign finance complaint with the Federal Elections Commission alleging that U.S. Senator Ted Cruz (R-TX) may have improperly directed iHeartMedia to contribute $630,000 to the Truth and Courage PAC, whoseim purpose is to ensure Cruz’s reelection. The amount donated would exceed the $5,000 ceiling on solicitation of funds for a super PAC. The Texas Tribune reports that the terms of iHeartMedia’s payments are unclear because the company’s agreement with Cruz for distributing his podcast is not public, hence the complaint seeking an investigation. However, the complaint asserts “the payments were improperly reported as ‘other receipts’ rather than campaign contributions. ‘Other receipts’ is generally reserved for interest or income on assets already owned by a PAC.” The complaint continues, “By soliciting or directing $630,850.08 of iHeartMedia’s corporate funds to or on behalf of TCP in connection with his 2024 election, Cruz appears to have brazenly violated these federal campaign finance laws.” See the Texas Tribune story here.

Industry News

Urban One Extends President and CEO Alfred Liggins III

Urban One, Inc announces that it has entered into an employment agreement with Alfred C. Liggins, III,im president and CEO, “consistent with the terms approved by the company’s Compensation Committee and previously disclosed on a Current Report on Form 8-K filed October 3, 2022. The terms of the new employment agreements are effective as of January 1, 2022.” This contract – which runs through December of this year with automatic one-year renewals – provides Liggins with a base annual salary of $1.25 million. It also includes incentive compensation of up to 175% of base compensation.

Industry News

Sheila Kirby Named President-Elect of MIW

Mentoring and Inspiring Women in Radio, Inc announces Sheila Kirby as its president-elect. Her term will begin January 1, 2025. She most recently served as SVP, sales acceleration for Audacy. Prior to her role at Audacy, Kirby held key executive positions, including SVP of talent development at Tribune Salesim Solutions and president of Strategic Sales Development at Interep. In her role as president-elect, she will continue to champion the mission of MIW, supporting and empowering women across all facets of the radio industry. She states, “I am deeply honored to serve as president of Mentoring and Inspiring Women. Nothing is more meaningful to me than helping women advance in their careers, especially at a time when women in various industries are finally having a well-deserved surge of recognition.” She will succeed current president Ruth Presslaff, who says, “Working with our extraordinary board to become a 501 (c)(3) and create new mentorships for programming, engineering, on-air and our Speak Up program, as well as multiple state association partnerships has been immensely rewarding. I know under Sheila’s incredible leadership, MIW will continue to soar and serve.”

Industry News

Yesterday’s (4/10) Top News/Talk Media Stories

The Arizona Supreme Court abortion ruling; the presidential race; the Israel-Hamas war and U.S. Israel relations; former President Donald Trump’s legal battles; President Joe Biden’s student debt reduction plan; James and Jennifer Cumbley are sentenced to 10-15 years in prison; the Russia-Ukraine war; Ashley Biden diary thief sentenced; and the U.S. Senate’s impeachment trial of Homeland Security Secretary Alejandro Mayorkas is moved to next week were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.