Industry News

“Retirement Results” Expands to John Fredericks Radio Network

The “Retirement Results” weekend radio program hosted by Ford Stokes, president and chief financial advisor of Active Wealth Management, Inc, joins the John Fredericks Radio Network, adding 12 stations to its affiliate base. Stokes says, “It is an honor to partner with the John Fredericksim Radio Network. This is a significant step up for us, and we are ready to help more people! By airing our radio show weekly on JFRN, we will be able to help more great Americans and their loved ones.” John Fredericks comments, “Adding an informative investing and retirement planning show to our growing radio network was important to us. We want to provide important information to help people better protect and grow their hard-earned money during this difficult time in our country, politically and economically. Ford’s show is at the next level. He shares important information as a licensed financial advisor that Americans can apply to their retirement plans every week.”

Industry News

UNESCO Offering Radio Broadcasters License-Free Series of “World Radio Day 2024” 60-second Vignettes

World Radio Day 2024 (WRD 2024) takes place on February 13 and TALKERS encourages its subscribers to get involved and take advantage of its many resources. Among these elements, broadcasters around the globe are invited to tap into a set of preproduced “World Radio Day Minutes” – a series of 20 one-minute vignettes exploring and celebrating radio’s past, present and future being made available license-free by the United Nations. Stations, networks and shows can run these in any way they choose as a promotion for radio either commercial-free or attach them to sponsorships by local advertisers. The produced versions in English feature the voices of Michael Harrison and noted commentator Victoria Jones (of DC Radio Company). Unvoiced scripts are available for broadcasters who choose to produce their own versions of these vignettes. Subjects include the invention, history and influence of radio – suitable for every format. Harrison, who has served as executive advisor to the UN for World Radio Day 2024 and wrote the vignettes, says, “The UN’s endorsement of radio as a vital platform for the 21st century by devoting an ‘official day’ honoring it is a welcome credential underscoring the ongoing viability of the medium on a global level. It is to the advantage of every radio broadcaster in America to get on board with this.” The theme of this year’s edition of World Radio Day is “A Century Informing, Educating, and Entertaining.” Hear and download these 20 one-minute produced programs and scripts here.

Industry News

“America in the Morning” Added to Cumulus Podcast Network

Cumulus Media announces that Westwood One’s daily news magazine program, “America in the Morning,” is joining the Cumulus Podcast Network. The John Trout-hosted program presents “up-to-the-imminute news reports from around the country and across the globe, with the latest overnight developments in business, breaking news, politics, sports, entertainment, and weather.” This year, “America in the Morning” celebrates its 40th anniversary and adds the “America in the Morning” podcast to its distribution. The program was originally hosted by the late Jim Bohannon beginning in 1984. He hosted the show through December of 2015, when Trout took over. The show has been recognized multiple times as Best News Magazine by the New York Festivals Radio Awards, and John Trout is a two-time recipient of the Achievement in Radio Award.

Industry News

Lara Trump’s “The Right View” Joins Salem Podcast Network

Salem Media Group announces that the Lara Trump-hosted podcast “The Right View” joins its Salemim Podcast Network on January 16. New shows will be delivered three times per week. Salem SVP of spoken word Phil Boyce says, “Lara Trump is a true star in conservative political circles and has developed a fan base of millions. She is committed to doing her part to save America, and we are thrilled to have her join our excellent lineup.”

Industry News

Ian Punnett Dies After Brief Illness

Shortly before Christmas, “Coast to Coast AM” executive producer Lisa Lyon posted the sad news that radio pro and longtime “Coast to Coast AM” personality Ian Punnett died on December 21 after a briefim illness. She writes, “It is with deep sadness that we share the news that Ian Punnett passed away from a brief illness yesterday. His keen intellect and delightful sense of humor will be deeply missed. Since 2000, Ian has, in various incarnations, been a valued host of ‘Coast to Coast AM,’ including regular weekend hosting duties, his own spin-off show ‘Coast to Coast LIVE with Ian Punnett,’ a podcast entitled ‘Vaudeville for the Frightened,’ and most recently twice a month hosting duties. I’ve had the privilege of producing for Ian these past 24 years, and I will miss our friendship and the professional collaboration. Every conversation behind the scenes was as lively and entertaining and everything we strive for on the air. Ian was great radio personified.” See more here.

Industry News

Poll: FNC News Network to Which Voters Turn

According to data from a recent New York Times/Siena College poll of registered voters nationwide, FOX News Channel is named the single news network voters turn to most often, above CNN andim MSNBC, along with topping The New York Times, Wall Street Journal, PBS and NPR. The poll results show 13% of respondents cited FOX News as the single news source they turn to most often, tying broadcast networks like CBS, NBC and ABC, while besting CNN (10%) and MSNBC (3%). For comparison, public news organizations (like PBS and NPR) delivered 4%, national news organizations such as The New York Times and Wall Street Journal garnered 8%, while international news sources like the BBC, Al Jazeera and The Guardian earned 3%.

Industry News

Civic Media Adds New Evening Show to Wisconsin Talk Network

According to a report in the Milwaukee Journal Sentinel, comedian and filmmaker Pete Schwaba is now hosting a nightly talk program on the network of news programs and progressive talk shows that Civic Media is airing on its network of stations in Wisconsin that includes flagship station WAUK-AM,im Waukesha. The “Nite Lite With Pete Schwaba” airs from 8:00 pm to 10:00 pm. Schwaba has hosted programs for PBS Wisconsin in addition to his work in the film industry that includes writing for the 2003 film, A Guy Thing, and his own indie comedy film, The Godfather of Green Bay. He also served as a producer on the Jeff Foxworthy TV show, “Are You Smarter Than a Fifth Grader?” He says, “Entertainment, just like sports, helps bring people together, which is more important now than ever. I’m excited to introduce listeners to people I’ve met over the years in the entertainment business, share experiences, and generally celebrate arts and culture in Wisconsin.” Read the Journal Sentinel piece here.

Industry News

Cumulus Podcast Network Contracts with Barometer for Brand Safety & Suitability

Cumulus Media announces its Cumulus Podcast Network is now providing brand suitability and safety measurement through Barometer, which provides brand-suitability measurement and contextual targeting unique to the podcast space. Cumulus says that this allows marketers and media agencies toim be able to review podcasts to ensure they meet their brand’s safety and suitability standards. Brands are also able to monitor their ad-buys during and after the campaigns to ensure their standards are being upheld. Westwood One SVP, sales and digital partnerships David Cohn comments, “We are proud to provide Barometer’s transparency and accountability to the marketplace. Brand marketers now represent 61% of U.S. podcast revenue. Advertisers deserve a brand-suitability solution that is designed for the unique attributes of podcast content rather than the legacy systems that were designed for display and online video.”

Industry News

Motor Racing Network Co-Founder Ken Squier Dies at 88

Motor Racing Network co-founder Ken Squier passed away on November 15 at age 88. Squier, who was Motor Racing Network’s first anchor, was also known for his time broadcasting NASCAR on theim CBS Television Network and later with TBS. MRN says that NASCAR founder Bill France Sr. encouraged Squier to build a nationwide network of radio stations to cover the growing sport. He began with his family-owned WDEV-AM/FM in Waterbury, Vermont and Daytona Beach’s WNDB-AM – both of which still air MRN programming today.  He added hundreds more stations to air the very first MRN broadcast of the Daytona 500 in 1970.

Industry News

Audacy’s 2023 Q3 Net Revenue Down 5.6%

Reporting its operating results for Q3 of 2023, Audacy says net revenue for the period was $299.2 million, down 5.6% from the same period in 2022. The company reports a net loss of $234 million, up from the net loss of $141 million it reported in Q3 of 2022. The company reveals that local spot revenue was down 3%, national spot revenue declined 15% and network advertising revenue was down 5%. Digital revenue was $64.8 million, up 3% compared to the third quarter of 2022. Audacy also reports broadcast radio revenue by format and notes that news/talk format revenue was $43.35 million, a decline of 10.8% year-over-year. Sports talk revenue was basically flat at $72 million. Music format revenue wasim $145.7 million, down 7.1% year-over-year. Audacy president and CEO David J. Field states, “Audacy’s third quarter net revenues declined 5.6%, in-line with our quarterly guidance as ad market conditions have remained challenging, particularly on national business. Cash operating expenses were down 2%. We gained revenue share in the quarter, most significantly in radio in which we have achieved accelerating share growth since the start of the year. We also delivered solid gains in radio ratings share and digital audience metrics while making important progress on our tech roadmap and meaningful expense savings to improve our current and future business model. Fourth quarter is currently pacing down 9% on an as reported basis and down 4% on a same-station, ex-political basis. We expect Q4 total revenues to decline by high single digits and costs to decline by high single digits. As noted in our recent public filings, we remain in constructive conversations with our lenders to recapitalize the company’s balance sheet to establish a strong financial footing and position the company to capitalize effectively on our growth opportunities. Notwithstanding current challenges, Audacy has established a strong position as a scaled, leading multi-platform audio content and entertainment company distinguished by our exclusive premium content and top positions across the country’s largest markets. We salute our team for their strong work delivering solid growth against our key performance metrics and serving our listeners and customers with excellence.”

Industry News

Salem Radio Network Presents GOP Debate Content

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Pictured above is Salem Radio Network talk radio host Mike Gallagher hosting his nationally syndicated show from the NBC News “Spin Room” in Miami as Salem, NBC News, the Republican Jewish Coalition, and Rumble are the media partners for the third GOP presidential debate this evening. Gallagher’s Salem colleague Hugh Hewitt is serving as one of the debate moderators. Gallagher will also anchor a two-hour network special broadcast following the debate, which will also be simulcast on Salem News Channel.

Industry News

FOX Business Network Names Kelly Saberi Chicago Correspondent

FOX Business Network brings Kelly Saberi aboard as a Chicago-based correspondent. She beginsim her new role later this month, replacing Grady Trimble who now serves as a Washington based correspondent for the network. Since 2021, Saberi has served as a reporter for “Good Day Austin” at FOX affiliate KTBC-TV, Austin. She got her start as a FOX News Media college associate in the summer of 2017 where she worked on “The Story with Martha MacCallum.”

Industry News

John Fredericks Media Network Launches on WENO-AM, Nashville

The John Fredericks Media Network is acquiring WENO-AM, Nashville from Broady Media Group. JFMN is operating the station under an LMA as the deal goes through the FCC approval process. JFMN rebrands the station “News/Talk AM 760 The Flame.” This addition to the JFMN portfolio comes on the heels of its pending acquisition of WCNS-AM, Latrobe and WXJX-AM, Apollo in Pennsylvania. Johnim Fredericks says, “As our stations in Philadelphia have thrived and shown stunning growth, we thought it was critical to bookend the Commonwealth of Pennsylvania with Pittsburgh, giving us robust reach in both dense population centers. We offer listeners in Pittsburgh’s Westmoreland County and now Nashville, Tennessee an exciting news/talk alternative that breaths oxygen into a stale and boring ring of warmed-over RINO syndicated hosts on the conservative news/talk syndication circuit. Our Nashville acquisition gives us a base of operations in the Mid-South as we expand along the spine of the Atlantic Coast. Nashville is a high-growth city and an important cultural center of our movement. We will be competing there with the biggest talk station conglomerates in the nation, including Cumulus and iHeart. We will offer Nashville listeners a dynamic alternative choice.

Industry News

“America Tonight” Now Syndicated by Talk Media Network

The long-running nightly news and interview-driven program “America Tonight with Kate Delaney” is now being syndicated by Talk Media Network and the Wegener show feed continues to be delivered 12:00 midnight to 2:00 am ET. Talk Media Network founder and CEO Josh Leng says, “Kate is anim award-winning and barrier-breaking broadcast professional who has built her brand and ‘America Tonight’ show to be trusted and respected. Kate’s been a dependable weeknight talk host for 15 years. Her affiliates know her as a super-serving talent who goes the extra mile for them. Listeners know ‘America Tonight with Kate Delaney’ as an entertaining show to stay ‘in the know.’” Delaney adds, “I look forward to expanding and growing the show with the talented professionals at TMN. I’m passionate about talk radio and its ability to bring people together to inform, entertain and surprise listeners.” Stations interested in the program can reach out to Willis Damalt.

Industry News

Beasley Media Group Q3 Net Revenue Falls 5.8%

Reporting its operating results for the third quarter of 2023, Beasley Media Group says net revenue was $60.1 million, a decrease of 5.8% over the same period in 2022. The company also reports a net loss of $67.5 million compare to the net income of $500,000 it reported in the third quarter of 2022, due largely to non-cash impairment losses.  Beasley CEO Caroline Beasley comments, “Beasley’s third quarter financial results reflect the well-publicized economic challenges and continued advertising market softness which we outlined in the prior quarters. Similar to recent quarters, Beasley delivered strongim digital revenue growth of 9.1% year-over-year, with digital revenue representing 18.6% of total third quarter revenue. Our continued strong digital revenue growth has moved us to within a few basis points of reaching the bottom end of our goal of digital revenue accounting for 20% to 30% of total revenue, and we remain laser focused on this initiative as a means to diversify our revenue in a cash flow positive manner. Our dedicated sales teams continue to leverage the tremendous audience reach and engagement of our local multi-platform content to attract new advertisers, resulting in a 22% increase in new local business revenue growth for the third quarter. Additionally, the actions we have taken to reduce our cost structure resulted in third quarter operating and corporate expenses decreases of 2.7% and 12.5%, respectively. In summary, we believe our third quarter financial performance demonstrates that our digital transformation and revenue diversification strategies continue to gain momentum and our initiatives focused on lowering operating expenses and reducing debt are positioning Beasley to generate increased and more diversified cash flows in future periods. Looking ahead, as has always been the case for non-election years, we expect fourth quarter revenues to be somewhat impacted by the absence of cyclical political advertising. While we plan to offset some of this expected softness through continued growth in digital and new business, we are hopeful that the overall advertising environment will improve in the fourth quarter and continue to closely monitor the economy.”

Industry News

Tony Bruno Launching Sports Talk Network

Philadelphia sports site Crossing Broad shares a press release from sports talk media personality Tony Bruno that announces the debut of his new sports talk venture, the Tony Bruno Sports Network. The network will feature “The Tony Bruno Show” in afternoon drive (3:00 pm to 6:00 pm ET), along with “The Pete Sheppard Show” (7:00 am to 10:00 am ET), “Defo & Lubie” (10:00 am to 12:00 noon ET), andimMartinez & Company” (6:00 pm to 8:00 pm ET), with the early afternoon daypart to be announced. The press release states, TBSN will debut October 30th  with LIVE programming every weekday with sports talk radio from 7am to 8pm to start. Additional time slots and weekend programming will be added over the following months. TBSN is available to listeners nationwide online via LIVE365.com and on the ‘Tony Bruno Sports Network’ app for Android and iPhone.” Bruno adds, “I want to thank all of my fans who have followed and supported me through the years. I am grateful to everyone who has encouraged me to return and who still want to hear my daily fun approach to sports and current affairs, which has been my forté for over five decades in broadcasting; this time, I’m bringing friends! I hear over and over again that fans are tired of X’s & O’s sports radio. I plan to bring back exciting, sports talk radio again, with a Florida flair. What better place to launch a new nationwide sports network than in Florida, a true melting pot of fans from all over the nation.”

Industry News

iHeartMedia Celebrates Three Years of The Black Effect Podcast Network

Media personality Charlamagne Tha God and iHeartMedia are celebrating the third anniversary of the debut of The Black Effect Podcast Network. The goal of the venture is for it to become “the world’s largest podcast publisher dedicated to Black listeners, bringing together the most influential and trusted voices in Black culture for stimulating conversations around social justice, pop culture, sports, mentalim health, news, comedy and more.” iHeartMedia says, “Three years into its mission, The Black Effect has cemented itself as the premiere destination for Black talent and Black listeners, launching over 30 exceptional shows – including ‘Carefully Reckless,’ ‘All The Smoke,’ and ‘Reasonably Shady’ – that cover a wide range of topics and amplify diverse voices and perspectives. Charlamagne Tha God adds, “As we celebrate three years of The Black Effect Podcast Network, we honor the power of representation, the resilience of our community, and the unwavering commitment to truth and excellence. Together, we’ve amplified voices and paved the way for a future where our narratives flourish.”

Industry News

CTBS Podcast Net Launches Karol Markowicz Show

Premiere Networks announces that the Clay Travis & Buck Sexton Podcast Network will debut “The Karol Markowicz Show” to its lineup of podcasts on October 9. Markowicz is a New York Post and FOX News columnist and is co-author of the best-selling book, Stolen Youth (DW Books, 2023). Premiereim says, “The new podcast expands on the topics that drive Markowicz’ most-popular columns, namely, the cultural and social issues that affect us all. From marriage and family, to career and relationships, Markowicz aims to find real answers to the deep questions that really matter, while taking listener questions and welcoming some of the biggest names in news, politics and entertainment for candid conversations.” Markowicz says, “I’m thrilled to join The Clay Travis & Buck Sexton Podcast Network on iHeartRadio. I’ve been approached, over the years, to do a podcast but it never felt like the right fit. Joining Clay and Buck is a dream. I’m such a big fan of both of these men and can’t wait to join the team.”

Industry News

Red Apple Audio Networks to Rep “Lou Dobbs Business Reports”

Red Apple Audio Networks signs a deal with Lou Dobbs to handle exclusive network syndication and advertising sales for the “Lou Dobbs Business Reports.” The two-minute reports are delivered twiceim daily, previewing the upcoming market open and the afternoon report as a market wrap-up. It currently airs on 77WABC in New York. Red Apple chief John Catsimatidis says, “Lou has a remarkable understanding of market trends and fluctuations. He has the rare ability to be able to cut through the data and present insightful analysis in a concise manner. He’s a terrific addition to our lineup of big-name personalities.”

Industry News

Compass Media Networks Enters 15th Year of NFL Broadcasts

Compass Media Networks began its 15th season of NFL coverage last weekend. In addition to a slate of Sunday afternoon games, the company continues to present the full season of games for the Dallasim Cowboys and the Las Vegas Raiders. Compass SVP and general manager for sports Michelle Salvatore says, “Wow! What an incredible way to open our 15th season of NFL coverage with a quadruple header! Our schedule gets even better this coming weekend with the Chiefs at the Jaguars followed by Jets at the Cowboys. Thank you to all our affiliates and sponsors for supporting us all these years.”

Industry News

Cumulus Launches “The Game Sports Radio Network” Across Three Markets

Cumulus Media announces that it is launching “The Game Sports Radio Network” across three South Carolina markets. The network originates from the company’s WNKT-FM, Columbia “107.5 The Game” – which serves as the flagship for South Carolina Gamecocks sports. Network content is also now heard on former classicim country WWFN-FM, Florence – now branded “100.5 The Game” – and sports talk WSEA-FM, Myrtle Beach, which re-brands as “100.3 The Game.” WNKT program director Terry Ford says, “‘107.5 The Game’ Columbia, has been keeping the Midlands sports fans informed, engaged, enlightened, entertained, and sometimes enraged for 16 years! Our live and local team of sports specialists interviews coaches, players, and fans, and invites listeners to participate via call, social media, and on-location events. At our core are the teams, coaches, players, and fans of the South Carolina Gamecocks. We are very excited about growing the ‘107.5 The Game’ brand into two markets in South Carolina and making our great content available to almost half of the state.”

Industry News

KMG Networks and USBC Announce “The Good News”

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KMG Networks and U.S. Black Chambers, Inc held a press conference yesterday (8/28) to promote the debut of “The Good News,” the national daily radio commentary by Dr. Benjamin F. Chavis, Jr that highlights “those good news stories from a national and global perspective that have relevance to the aspirations of all Americans who strive for excellence and achievement in all fields of endeavor.” Pictured above are (from l-r): Sharon Barnes Waters, WINS-AM/FM, New York and DEI director for Audcacy NYC; Skip Dillard, brand manager “94.7 The Block” (WXBK-FM) New York; Gary Krantz, CEO – KMG/KMG Networks; Ron Busby, president & CEO of The U.S. Black Chambers, Inc; Dr. Benjamin J. Chavis, Jr; Tish Bazil, global head of media & experiential, The Chavis Group; Steve Roberts, founder & CEO of  Roberts Broadcasting Company; and Tiffany Murphy, CEO of The Culture Equity.

Industry News

Radio’s Reliance on Power Companies and Internet Impact Ability to Serve

KSCO, Santa Cruz owner Michael Zwerling says as his station prepared to present a program on preparing forim the next big earthquake, ironically, the station lost power numerous times causing continuous off-and-on power situations that impacted the station’s broadcasts. Zwerling says each time the power went out and the generator kicked on – something that happened numerous times – it put stress on the transmitter and the generator. Complicating matters was that the station’s infrastructure – as well as the phone company’s and PG&E’s — is dependent on the internet and that requires consistent power. This puts stations’ abilities to serve at a disadvantage. Zwerling talks about this problem in an audio clip here.

Industry News

Townsquare Media Q2 Net Revenue Off 0.6%

Townsquare Media, Inc reports its financial results for the second quarter of 2023 and says net revenue for the period was $121.2 million, a decline of 0.6% from the same period in 2022. Breaking the company’s revenue down by segment, Broadcast Advertising net revenue decreased $3.3 million, or 5.8%, and Subscription Digital Marketing Solutions net revenue decreased $1.7 million, or 7.5%, compared to the same period in 2022. These revenue declines were largely offset by Digital Advertising net revenue which increased $4 million, or 10.6% from Q2 of 2022. Townsquare reports a net loss of $2.7 million in Q2 of 2023 compared to the net income of $4.9im 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.”

Industry News

FOX News Channel Top Cable Net in Total Day and Prime Time in July

FOX News Channel says that, according to data from Nielsen Media Research, it finished July 2023 as cableim television’s most-watched network across both primetime and total day viewership and was #2 in the 25-54 demo with total day behind ESPN. FNC’s “The Five” has been number one in viewership for seven consecutive quarters securing 2,591,000 total viewers and 254,000 in the A25-54 demo.

Industry News

Audacy Q2 2023 Net Revenue Falls 6.6%

On Friday (8/4), Audacy reported its operating results for the second quarter of 2023. Net revenue for the period was $298.5 million, down 6.6% from the same period in 2022. The company posted an operating loss of $135.3 million, compared to operating income of $23.3 million reported in Q2 of 2022. Audacy reports a net loss of $125.8 million, compared to the net loss of $773,000 it reported for the second quarter of 2022. Breaking down the company’s revenue streams, Spot revenue (local and national) was $187.1 million (down 3.7%), whileim Network revenue was $20.8 million (down 4.4%). Digital revenue was $66.7 million (down 4%). Audacy also reports revenue based on radio format and says revenue from sports stations was $65.6 million (up 1.2%), while revenue from all-news and news/talk was $44 million (down 14.8%). Revenue from music-formatted stations was $ 145.3 million (down 8.3%). Audacy chairman, president and CEO David J. Field comments, “Second quarter net revenues were down 6.6% in line with our quarterly guidance, imreflecting challenging ad market conditions. During the quarter, we saw accelerated growth across certain of our key performance metrics including radio revenue share, station audience ratings, and digital platform usage. We also made meaningful progress on our ad tech and ad product roadmap as we work to develop important new pools of digital demand and growth… We have initiated discussions with our lenders to enhance our balance sheet and establish a strong financial footing to enable the company to capitalize on its growth opportunities. Notwithstanding current challenges, Audacy has established a prominent position as a scaled, leading multi-platform audio company distinguished by our exclusive premium content, top positions across the country’s largest markets, and unrivaled leadership in news and sports radio. We continue to invest in our people, platform, content, technology and capabilities and serve our listeners and customers with excellence. Ad market conditions remain challenging but have stabilized entering the third quarter. We are pacing down 4% with local spot considerably stronger than national spot. We expect Audacy’s Q3 revenues to decline by mid-single digits.”

Industry News

iHeartMedia and Michael Smith Partner to Create the “Inflection Network”

iHeartMedia and sports journalist Michael Smith are partnering to create the “Inflection Network,” “an innovative new sports podcast network.” Smith, along with partner Terrence Williams, an entertainment attorney, are launching the network with season three of the podcast series “Comeback Stories” hosted by New York Giantsim tight end Darren Waller and mental health and mindfulness coach Donny Starkins, with new originals joining the slate soon. Williams says, “We are thrilled to embark on this new journey with iHeartPodcasts. With the help of iHeart’s unmatched expertise and platform, we are building a robust content slate and what I believe will be an enjoyable and unique listening experience.” Smith adds, “IN’s approach is guided by inspiring and transformative power-rich storytelling and authentic, entertaining and thought-provoking conversation. We want to elevate and empower creatives, amplify diverse voices and perspectives, and enlighten, entertain and engage our audience. At IN our mantra is, ‘Louder for the folks in the back!’”

Industry News

Cumulus Media Second Quarter Net Revenue Falls 11%

Cumulus Media Inc is the first radio company to report its financial results for the second quarter of 2023 and post Q2 net revenue of $210.1 million, a decrease of 11.2% over the same period in 2022. The company also posts a net loss of $1.1 million for the quarter, compared to the $8.6 million in net earnings it reported for Q2 of 2022. Breaking down the company’s revenue by segment, digital is the only segment that didn’t report a double-digit decline ($37.5 million, down 0.7%). Spot revenue was $107.1 million (down 15.7%) and network revenue was $39.7 million (down 18.5%). Cumulus notes that its total debt as of June 30, 2023 was $680.9 million.im Cumulus president and CEO Mary Berner comments, “Despite continued challenges in the overall market, our second quarter revenue performed in-line with expectations while Adjusted EBITDA exceeded them. As in prior quarters, we generated strong revenue growth in our digital marketing services business, implemented meaningful cost reductions, and further improved our balance sheet by generating cash from operations and reducing our total and net debt to the lowest levels in more than a decade. Additionally, we executed a highly accretive and opportunistic tender offer, which resulted in the retirement of approximately 10% of our shares outstanding. Our proven track record of strong operational and financial execution in adverse conditions gives us unwavering confidence in our ability to optimize results in the current weak ad market and rebound strongly when the environment improves. In the meantime, we will continue to invest in our digital businesses, further enhance our operating leverage through additional cost reductions, and execute on our strategy to opportunistically deploy capital to maximize long-term shareholder value.”

Industry News

Dan Patrick, Premiere Networks, and NBC Sports Renew Multiplatform Deal

iHeartMedia and NBC Sports announce renewed multiplatform distribution deals for “The Dan Patrick Show.” iHeartMedia’s Premiere Networks will continue its role as the exclusive, global digital and terrestrial audio distribution partner for “The Dan Patrick Show,” currently heard on 360-plus affiliates. The show will also continueim to stream on Peacock and will also be heard on the NBC Sports channel SiriusXM. The terms of the contracts have not been revealed but Patrick told listeners last week that he would work four more years before retiring from the business at the end of 2027. Premiere Networks president Julie Talbott says, “Dan Patrick is one of the biggest stars in sports media and entertainment, and we couldn’t be happier to extend our partnership. Dan continues to raise the bar. He’s built a loyal following across multiple platforms by producing the highest-quality content, and he continues to deliver remarkable results for our partners. We look forward to working together for the foreseeable future.”

Industry News

Nexstar Media Group Extends Networks President Sean Compton

Nexstar Media Group, Inc announces the extension of employment agreements with Sean Compton, president, networks, and Dana Zimmer, president, distribution and strategy. Compton is responsible for the long-term strategy and business operations of The CW Network, NewsNation, Antenna TV, Rewind TV, Nexstar’s programming acquisitions, The Hill and WGN Radio. Prior to joining Nexstar, Compton was president of strategic programming and acquisitions for Tribune Company from 2008 to 2019. Prior to joining Tribune, he spent a combined 16 years at Clear Channel Radio and Premiere Radio Networks where he served as vice president of programming for 10 years before joining Tribune.

Industry News

Compass Media Networks To Handle ABC Audio Ad Sales

Compass Logo Effective immediately for inventory beginning next January, Compass Media Networks will be ABC Audio’s exclusive advertising representative. ABC Audio vice president Liz Alesse declares, “We are thrilled to usher in a new phase of growth for ABC Audio with the announcement of our strategic partnership with Compass Media Networks. “ABC News Radio remains steadfast in its mission to provide our news affiliates incisive, up-to-the-minute headlines; we’re equally committed to creating top-tier entertainment content. By maintaining our high standards in these areas, we do more than just serve our stations – we also create exceptional opportunities for our advertisers.” Compass Media Networks chief executive officer Peter Kosann remarks that, “Christmas has come early for us and our national sponsors. ABC Audio represents some of the most iconic brands and media assets in the world. We will move mountains to be a wonderful ambassador and advocate for our new partner.” As TALKERSnoted last Wednesday (7/5), ABC Audio and Skyview Networks agreed to end their similar arrangement. A Skyview statement read, “ABC Audio and Skyview Networks are committed to working together to ensure a smooth transition. Skyview will continue meeting the needs of the industry and its full-scale multi-partner relationships. Skyview Networks will continue representing ABC Audio network sales while also providing distribution service through 2023. We wish ABC Audio continued success in the years ahead.”

Industry News

Sports Betting Network, VoiceAmerica Sign Content Distribution Deal

VoiceAmerica is making The Sports Betting Network’s content the foundation of its new gaming channel. VoiceAmerica vice president of programming Alex Schild notes, “We pursued VSiN’s content because it’s the gold standard in the sports betting industry. As sports betting continues to expand across the country, the demand for this content will continue to grow, and we wanted to align our brand with the best in the category. VSiN content aligns with our current offerings, and we believe it will be a hit with our listeners.” VSiN (The Sports Betting Network) founder/chief executive officer Brian Musburger comments, “We’re thrilled to work with VoiceAmerica to bring VSiN’s brand of sports wagering content to even more of the nation’s growing number of fans who bet on sports. This relationship will further expand VSiN’s audio reach, building on our position as the largest sports betting network in the U.S.”  VoiceAmerica Sports & Gaming Channel powered by VSiN is live now, making VSiN’s sports betting content available to more than 30 million listeners of VoiceAmerica’s programing.