Monday Memo: April Fool!
By Holland Cooke
Consultant
Pick a day, any day. At least one news item will have the little voice in your head hollering “TELL me you’re kidding!” After recent headlines, and as various plots thicken, that little voice might need a lozenge.
In olden times, DJs’ and hosts’ April 1 on-air shenanigans would amuse and/or upset listeners. Some of these gags cost jesters their jobs. Expect less of that today, as the local talent ranks have thinned. Maybe A.I. DJs will come up with something.
As cutbacks were cascading on April 1, 2008, my gallows humor headline was: “Farid himself now voice-tracking True Oldies, using on-air name Fred Soulman, as staff cuts force management on-air. The Mystery Oldie-of-the-Day winner gets 1,000 shares of Citadel stock or $1,000 cash, whichever is less. APRIL FOOL!”
Back to the future: Many surviving jocks and talkers and newscasters have something in common, what consultants call “word economy.” It’s never been more important than during these dizzying days, but it’s nothing new. All along, those who took only 7 seconds to make a point seemed to be more successful than those who took 17 seconds. When I was a DJ, I stole a line from WABC’s Dan Ingram, who intro’d the Elton John song, “Someone Shaved My Wife Tonight.”
If you’re spinning the hits, streams are spinning more of ‘em, without eight-unit stopsets. So keep it moving. Doing news? Listeners are wondering “What NEXT?” and if you’re telling them, succinctly, they’ll find you helpful and habit-forming. Hosting a talk show? Understand that every other media experience listeners favor is interactive. Busy caller traffic (something local advertisers notice) lets you own topic du jour.
And whether you’re a DJ, news person, or host: Every…single…minute…someone just got in the car. Reset frequently-enough that they’re up-to-speed.
But don’t take my word for it. Being April Fool’s Day, I’ll let these funsters (some immortal) demonstrate this word economy I preach:
“I saw a bank that said ‘24-hour banking,’ but I don’t have that much time.”
— Comedian Steven Wright, my Block Island neighbor
“When I was a kid my parents moved a lot, but I always found them.”
— Rodney Dangerfield
“I was going to have cosmetic surgery until I noticed that the doctor’s office was full of portraits by Picasso.”
— Rita Rudner
“I’ve had a perfectly wonderful evening, but this wasn’t it.”
— Groucho Marx
“I hate housework. You make the beds, you do the dishes, and six months later, you have to start all over again.”
— Joan Rivers
Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of “The Local Radio Advantage: Your 4-Week Tune-In Tune-Up,” and “Close Like Crazy: Local Direct Leads, Pitches & Specs That Earned the Benjamins” and “Confidential: Negotiation Checklist for Weekend Talk Radio.” Follow HC on Twitter @HollandCooke and connect on LinkedIn.
Townsquare’s Cash Flow from Operations increased 35% year-over-year to $68 million, or approximately $4.07 per basic share based on shares outstanding as of March 28, 2024. Pro forma for this transaction, Cash Flow from Operations per basic share increased to approximately $4.47, representing accretion of approximately 10%. Following the transaction, the Company has 15.2 million shares outstanding. Townsquare CEO Bill Wilson says, “We are very pleased to share that we have repurchased just under 10% of our total shares outstanding in an immediately accretive transaction for our shareholders. Since 2021, we have repurchased 16.2 million shares at an average price of $7.19, while simultaneously reducing leverage. The strong cash generation characteristics of our business model, which produced $68 million of cash flow from operations in 2023, has afforded us the opportunity to accretively repurchase equity and debt, while also investing internally in our digital growth engine. In addition, we introduced a high-yielding dividend in 2023, and recently increased it by 5%. Our dividend has a yield of 7% as of March 28, 2024. With a strong cash balance of $40 million following this transaction, we will retain financial flexibility moving forward and we are confident in our ability to build shareholder value for our investors through long-term net revenue, Adjusted EBITDA and cash flow growth, net leverage reduction, future dividend payments, and potential future share repurchases.”
population has listened to a podcast in the last month, up 12% year over year; 34% of the U.S. 12+ population has listened to a podcast in the last week, up 10% year over year. Despite changes in how downloads are being delivered and counted, listening levels are up markedly; 2) Growth in podcast reach is driven by large increases among the number of female listeners: 45% of women in the U.S. age 12+ have listened to a podcast in the last month, up from 39% in 2023, an increase of 15%; 32% of women in the U.S. age 12+ have listened to a podcast in the last week, up from 27% in 2023, an increase of 19%; 3) Online audio listening hits the highest mark ever: 76% of those in the U.S. age 12+ have listened to online audio in the last month, an estimated 218 million people, 90% of those age 12-34 and 85% of those age 35-54 have listened to online audio in the last month; 4) 70% of those age 18+ who have driven or ridden in a car in the last month currently ever listen to radio as an audio source in their primary car; 55% listen to online audio and 32% listen to podcasts; and 5) 60% of those age 12+ have a traditional AM/FM radio set in their home. 
respondents are most likely to say they use it at least weekly. There’s a strong feeling the government will need to step in to provide legal guard rails for AI use. Three in four (75%) are looking for some form of regulation. In fact, more than a third (36%) believe AI will need to be highly regulated. That perception may be fueled by the upcoming elections this November. About half (51%) say they’re very concerned about how AI might affect this fall’s political races. Members of the Greatest Generation and Boomers are most fearful of how the technology might influence upcoming elections. When it comes to three applications for radio – AI hosts, AI-voiced commercials, and AI-voiced station IDs – the biggest pushback predictably is directed at the idea of radio using cloned voices to take the place of live talent. Three in four (75%) raise the red flag over this AI application. Concern lessens when it comes to AI voice technology being used to read commercials. Still, nearly four in ten (39%) say they have big issues with radio stations they listen to using AI in ads. Respondents are most open to the idea of AI voices being utilized on station identification. Overall, about one-third (34%) have no problem, but a similar sized group (30%) expresses major concerns with this use case for AI. Jacobs Media general manager Paul Jacobs remarks, “It is still early days for AI in radio, but broadcasters need to respect the many concerns voiced by core fans of the medium. Up to now, many decisions have been made in a vacuum. Now the audience has a voice. We’ll be tracking their perceptions in Techsurveys in the coming years as the technology matures. The format level data for AI should provide welcome feedback for radio managers trying to get a handle on AI.”
week on Real America’s Voice TV network. Root, who hosts the weekend program “America’s Top Ten Countdown with Wayne Allyn Root,” is being added to the network’s weeknight schedule as his “The Root Reaction” airs weeknights from 10:00 pm to 11:00 pm ET beginning April 1. Root says, “My new show will be an America First, MAGA, in-your-face, heart-pounding, pedal-to-the-metal, balls-to-the-walls, 180 MPH race through the biggest news stories of the day.”
ideology on an issue-by-issue basis – although infuriating his fellow Democrats on many an occasion. After leaving the Senate in 2012, he withdrew somewhat from the political spotlight to serve as an attorney in private practice and a college professor but remained outspoken on issues of politics and public policy. His most recent activities included founding the No Labels Group which condemns what Lieberman described as the “partisan polarization of our politics which prevents us from making the principled compromises on which progress in a democracy depends.” Lieberman said, “We need bipartisan leadership to break the gridlock in Washington that will unleash all the potential that is in the American people.” TALKERS publisher Michael Harrison had the opportunity to get to know Joe Lieberman very well while serving as a talk show host on Connecticut’s leading talk station, WTIC, Hartford in the early 1990s. Harrison states, “Joe Lieberman was always available at a moment’s notice to appear on the air with me during those golden days of talk radio’s modern era and it was apparent to me – as well as talk show hosts across the nation – that he wasn’t your ‘run of the mill politician’ who put party over country and avoided answering the tough questions. There was a profound honesty in his words and tone that inspired confidence, among even those who disagreed with him, that they were talking to a very solid, principles-based man.” Harrison continues, “Talk show hosts on both sides of the political divide loved him for his warmth, candor and accessibility.” Harrison concludes, “Al Gore would have been better served during his run for the presidency to have let Joe have freer reign over his media availability during the campaign, something the VP failed to do. Every request for Joe to be a guest – many of which were squashed – had to go through the Gore campaign which turned off a lot of Joe’s friends and admirers in both radio camps.”
Solicitation 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 2, 2024. This offer will expire then unless extended or terminated. As of March 26, 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.
Awards that celebrate outstanding achievements in media dedicated to women, by women, and about women across diverse platforms in news and entertainment. This year’s winners will be celebrated at AWMF’s annual gala on May 21 at the Beverly Wilshire in Los Angeles. Local and student award recipients will be honored at the Gracie Awards Luncheon on June 18 at Cipriani’s in New York City. 
The company states, “Net broadcast revenue decreased 3.7%, or $7.6 million, principally due to a $7.3 million decline in national and local spot advertising revenue. Spot advertising revenue has been declining in the industry due to reduced time spent listening, particularly on AM radio stations. Also, the political revenue decreased $3.6 million, or 61.5% to $2.3 million from $5.9 million. This decrease was partially offset by an increase in our broadcast digital revenue which increased $1.5 million or 4.1% due to increases from Salem Podcast Network, Salem News Channel and digital marketing services through Salem Surround. On a Same Station basis, net broadcast revenue decreased 4.0%, or $8.2 million, which reflects these items net of the impact of stations acquisitions and dispositions.” On the digital side, the company reports, “Net digital media revenue increased 0.7%, or $0.3 million. Net digital advertising revenue decreased due to Facebook algorithms that limit political content, the growing use of browsers that block third-party cookies limiting advertising, and the overall state of the economy that has weakened demand for advertising resulting in a lower number of advertisements and a reduction in rates.” 
director Mark Garrison after he asked if President Joe Biden suffers from dementia. Garrison did ask Jean-Pierre that question and she responded, “Mark, I can’t even believe you’re asking me this question. That is an incredibly offensive question to ask.” Then, after presenting the president’s accomplishments, Jean-Pierre thanked Garrison and ended the call. The White House says WBT was given seven minutes as part of Jean-Pierre’s media schedule and that she ended the interview at that time. The White House also suggested that the station employed a bit of theater by adding a dial-tone sound effect to the end of the interview that its phones don’t make after a call ends. 
they will end their program at the end of June. The two have hosted the afternoon show at Hubbard Broadcasting’s talk KTMY-FM “MyTalk 107.1” since 2002. Barghini and Cobbs – both in their early 60s – say they want more time for themselves. Barghini told listeners she started thinking about retiring after the death of her father last summer. 
as a satellite radio studio for Bold Gold Media’s four local broadcast radio stations, including news/talk WVOS-AM/W223DB “Catskills News Talk 92.5 & 94.9.” Bold Gold Studios will be available for lease opportunities, and offers brand new professional audio and video recording gear, with experts available to assist in recording, producing, and even marketing branded multi-media podcast or A/V productions. The company will hold a grand opening celebration on April 19. Bold Gold New York general manager Dawn Ciorciari says, “We are grateful to Bruce Davidson at the Liberty Theater for partnering with Bold Gold Media to create and manage this state-of-the-art studio in his historic building. This studio will extend Bold Gold Media’s reach in Sullivan and the Catskills and serve as a new professional space for audio and video content creators.”
negotiations with iHeart – KJR since the start of January and in the last few weeks we mutually agreed that I would be off the air until we reached a deal… Both sides worked hard to get a deal done and the process was long and time consuming. Late last week I received the offer that I had been looking for and was excited and grateful to get back to work on Monday. However, a day after receiving the offer I learned that my partner Jim Moore was terminated as part of nationwide layoffs within the company. The timing of the move left me angry, sad, confused and conflicted… Many, many sleepless nights has led to my decision to part ways with the station and not seek a new contract. I’m a firm believer in loyalty and the treatment of others. From my perspective I couldn’t in good conscience continue to do the show despite my love to do so… This is not goodbye forever. The process has energized and motivated me to great lengths. Stay tuned because very soon I’ll deliver the same nonsense in a different form.”
Will video save the radio star? I hope so.
reporting is operating results for 2023 it reveals net revenue of $1.16 billion, a decrease of 6.75% from the full year 2022. The company was hampered by an impairment loss of $1.3 billion in 2023, compared to the impairment loss of $180 million reported in 2022. That and other factors led to total operating expense soaring to $2.5 billion, compared to the total operating expense of $1.32 billion in 2022. The company posted a net loss of $1.13 billion in 2023, compared to the net loss of $140 million reported for 2022. 
Hannity Show” and the “Sports Nightly” program. KLIN general manager Ami Graham tells the paper that Parsons was not terminated for cause, “We’ve just chosen to go in a different direction.” For his part, Parsons tells the Journal Star that “he tried cutting against the grain by hosting a talk radio show that stressed ‘lifting up instead of tearing down — and truth over tribalism. I thought we were taking radio in a different direction.’” 
producers.” All Entries in the 2024 competition were screened online by NYF’s Radio Awards international Grand Jury of 200-plus producers, directors, writers, and other creative media professionals from around the globe and judged on the following set of criteria: production values, creativity, content presentation, direction, writing, achievement of purpose and audience suitability. Award-winning entries will be announced during the New York Festivals 2024 Storytellers Gala virtual event on April 16 at 6:00 pm ET. The virtual event will include featured global audio and video highlights, award winners’ acceptance speeches from around the world, and up-close and personal spotlights featuring some of radio and television’s most respected storytellers. All winners will be showcased on the Radio Awards winners gallery. 