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, whose
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.
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.
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.”
media budget, adding AM/FM radio to a digital/TV plan sharply builds reach. Via Nielsen Commspoint, the media allocation planning tool, a wide range of monthly digital/TV media plans were examined. Very small, light, medium, and heavy campaigns were examined. The lightest digital/TV campaign reached 10% of the market. The heaviest reached 60%. Then a 20% allocation of AM/FM radio was introduced. The results were stunning. Across the seven monthly campaigns, from the lightest to the heaviest, the addition of AM/FM radio generated significant lifts in reach. Shifting 20% of the lightest TV/digital campaign to AM/FM radio caused reach to double. Introducing the 20% allocation of AM/FM radio to medium-sized campaigns causes reach to soar by 36% to 55%. Even the heaviest TV and digital campaign saw reach grow 20% with the addition of AM/FM radio to the plan.” 
follows last week’s repurchase of 1.5 million shares from MSG at $9.76 per share, the June 2023 repurchase of 1.5 million shares from MSG at $9.70 per share, and the March 2021 repurchase of 12.6 million shares and warrants from Oaktree Capital Management, L.P. at $6.40 per share. Like last week’s 1.5 million share repurchase from MSG, the purchase price of $10.8 million will be funded entirely with cash on hand. Townsquare CEO Bill Wilson comments, “We are very pleased to share that we were able to buy the IPO options at a net purchase price of $3.62 per option, eliminating the overhang and the shareholder dilution that would have occurred had these in-the-money options been exercised in the open market before they expired this July. The members of management and the board that were involved in this transaction have been with Townsquare for over a decade, demonstrating that our longterm incentive plan was, and continues to be, effective in retaining top talent. In total, our management team owns approximately 11% of shares outstanding today and are well aligned with the company’s investors to build shareholder value.”
CEO/president, Gray Television; Mary Menna, vice president & market manager, Beasley Media Group; and Carlson Mozdiez, vice president, digital business operations, Audacy; alongside moderator Sarah Foss, chief technology officer, Audacy, will engage in a candid conversation exploring the evolving landscape of sports business and the significant role women play in shaping its future. The panel will dive deep into the emergence of multiplatform sports coverage and how it has reshaped the business landscape of the sports industry, and how media professionals have leveraged multiplatform sports to enhance audience engagement and reach a diverse set of viewers. 
The work-life balance concept is up for a new spin. Let us start in California.
for participating podcasts) and, while not a lot changes from last month, NPR’s “NPR News Now” took over the #1 spot from The New York Times’ “The Daily,” which falls to #2. Cumulus Podcasts Network’s “The Dan Bongino Show” rises one spot to #10, and FOX Audio Network’s “FOX News Hourly Update” climbs two places to #12. 
show produced at KLIN is titled after is best-selling book, ONESHOT. ONELIFE. – The Ultimate Success Formula To Help You Win At Anything In Life (Morgan James Publishing, 2018). NRG general manager Ami Graham says, “Doug has been a friend of KLIN for years. During your drive home, Doug will tackle the issues that matter to our community through commentary, guests, and listener engagement. We are thrilled to have him on our airwaves every weekday.” Fitzgerald says, “I am excited and honored for the opportunity to serve Lincoln and Nebraska on such an iconic station as KLIN and during a time slot where great hosts have broadcast over the years. My vision is to address the cultural issues that impact our city and state through the lens of the values that make Nebraska ‘The Good Life.’ To me, ‘Drive Time Nebraska’ will be like taking a road trip with your family or good friends… having great conversations and fun, along with getting on each other’s nerves now and then. In the end, you still make it home together.”
the station. The piece notes that LaVicka said co-host Theo Dorsey will remain with the station hosting his own show beginning on Monday (4/8). The Post reports that GKB West Palm Beach general manager Stephanie Price issued the following statement: “LaVicka is still a teammate, and we are working with him on his future. We are always on the lookout for talent who can bring a new perspective to the market. We are putting more resources into both our radio and digital platforms to engage and reach the most fans, as consumption continues to evolve, as well as provide our partners more opportunities to reach those fans.” 
previously announced Exchange Offer and Consent Solicitation in which Cumulus offered to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) for new 8.750% Senior Secured First-Lien Notes due 2029 (“New Notes”) to be issued by Cumulus. The company has further extended the expiration time from 5:00 pm, New York City time, on April 2, 2024, to 5:00 pm, New York City time, on April 9, 2024.
Spacciapolli states, “I first want to congratulate Dave on an incredible career. It has been a privilege to work with him over the past two years. We’re delighted to promote PJ, a mainstay at KDKA for the last 35 years. The trust he has built within our organization and with listeners and partners makes him a great fit to steward this iconic brand into the future as we grow on many levels.” Kumanchik, who has worked in multiple capacities at both KDKA News Radio and “93.7 The Fan” (KDKA-FM) as news producer and editor, morning show producer, sports producer and program director, comments, “I look forward to working with our leadership team, including Michael, to boost the momentum we have created at KDKA News Radio in the past couple of years. As the Voice of Pittsburgh, we will continue to provide news-driven talk that encourages interactions from our listeners.”
originate content using FM boosters and is intended to do so without raising the potential for harmful co-channel interference to the reception of the primary station’s signal outside the coverage area of the booster station or to previously authorized secondary stations.” GBS filed a petition on March 13, 2020, proposing to give FM broadcasters the option to use boosters to originate programming to specific zones within their stations’ service area, proposing to allow program origination for a limited period totaling three minutes per hour… During that limited period, GBS proposes that the FCC allow the booster to originate geo-targeted advertisements, promotions for upcoming programs, and other hyper-localized content, suggesting it would benefit small and minority-owned broadcasters, because potential advertisers that currently find it prohibitively expensive to buy spots reaching a radio station’s whole service area might purchase lower-cost airtime reaching a more targeted area, thereby becoming a new source of station revenue.”
Podcasting deserves a larger role in media plans as opposed to “test and learn” experimental buys. 135 million Americans, 47% of persons 12+, are reached monthly. Among demographics such as persons 18-34, 18-49, and 25-54, monthly reach is in the low 60% range; 2) It is feasible to consider shifting TV budgets to podcasting given that podcast 18-34 reach performance is as big as TV; 3) The ratio of monthly audiences who also listen weekly is an excellent measure of podcast habituation. At present, 71% of the monthly female podcast audience also listen weekly. This is the strongest female podcast habituation in the last decade; and 4) Currently, podcasts only represent 1% of total national ad spend, per Guideline’s Standard Media Index reporting. At the dawn of cable TV, legendary BBDO media chief Arnie Semsky created the “5% solution,” which stipulated that brands devote 5% of media budgets to cable. 5% is enough of allocation to generate meaningful impact. Semsky was prescient. His brands hugely benefited from taking an early, bold, and strong position in a growing new medium, a lesson for the marketers of today when it comes to podcasts. 
week’s installment of the award-winning PodcastOne series, “The Michael Harrison Interview.” The program includes an archived interview conducted with Lieberman in 2018 for the podcast which offers valuable insight into his perspective on the Electoral College and the presidency of Donald Trump among other historic issues. Harrison describes the late senator and former VP candidate as, “one of the last true American statesmen of the modern era.” 
The thing about outstanding performance is there is one key trait in the performer we can all agree on. It was on full display in front of millions during the past two weeks. It shows up every time an athlete takes the game to new levels, or an artist moves us out of our seats and collective comfort zone.
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.
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. 
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.”
sports. He’ll continue to serve as vice president of affiliate sales for news/talk and sports. Brewer, a 14-year veteran of the company, is named executive producer – sports programming. Kleiber, a 10-year veteran of the company, is been named senior producer – sports programming. Compass Media Networks CEO/founder Peter Kosann comments, “For over 16 years, Compass Media Networks has set a standard of excellence for national play-by-play sports with Chris, Rob, and Tyler playing a vital part in our success. It is our pleasure to give these three talented executives their day in the sun, knowing that they will continue to work incredibly hard to carry on this tradition of excellence.”