Audacy and Creditors Agree on Extension of Grace Period
As Audacy continues to engage in discussions with its creditors with respect to potential alternatives regarding a restructuring of its outstanding indebtedness, the company gains an extension on the grace periods before defaulting. Regarding its latest Credit Facility Amendment, it “extends the grace period before which a default in the payment of interest matures into an Event of Default to 68 calendar days. However, if lenders holding a majority of the outstanding obligations under the Credit Facility have not
received a substantially final form of agreement with respect to a consensual transaction relating to the Issuer’s funded indebtedness satisfactory to such lenders on or before December 15, 2023, the grace period extension expires after 45 calendar days. This is relevant to the following Credit Facility interest payments: approximately $17,000,000 originally due on October 31, 2023; approximately $785,592 originally due on November 8, 2023; and approximately $1,125,000 originally due on December 28, 2023. Regarding the Receivables Facility Amendment, it amends the cross-default that would otherwise occur under the Receivables Facility in respect of certain defaults in the payment of interest under the Credit Facility, with the effect that such interest payment defaults will not result in an event of default under the Receivables Facility until the expiration of the 68 or 45 calendar day grace periods… and extends certain related covenant accommodations with respect to the Company’s liquidity position through January 7, 2024.”
positive statements about radio, television, and charitable giving. BFoA president Tim McCarthy says, “We need to reach radio and television professionals across every channel at our disposal ‘The 12 Days of Giving Social Media Campaign’ is a great way to raise funds and awareness of our mission, especially among junior-level people in broadcasting.” The BFoA has distributed more than $15 million dollars in aid over the past 20 years. This year, the Foundation will award approximately $1.8 million. More information about the Broadcasters Foundation, including how to make a donation or apply for aid, is available at broadcastersfoundation.org. 
includes two FOX News Radio personalities. “The Guy Benson Show” will air from 12:00-3:00 pm and “FOX Across America with Jimmy Failla” is being delay 
broadcast in the 12:00 midnight to 3:00 am daypart. KTTH program director Jason Antebi states, “We’re incredibly excited to add Guy Benson’s fresh conservative perspective to our primetime lineup. Guy’s political acumen, ability to break down complex issues in ways making it easy to follow, and his pulse on what’s happening from Washington state to Washington, DC will be a huge asset for the KTTH audience.” Benson is the political editor of Townhall.com and a FOX News contributor. 
afternoon drive host Mike Felger’s Facebook Live “Off-Air Show” and said she doesn’t think she’ll get the gig. When asked why she said, “Just because I think that I’m young and new. I think [program director] Rick [Radzik] took me very seriously. It’s just I think that there’s probably someone who, I don’t know, I think that I’m qualified. It’s just I haven’t been here very long, so I don’t know.” Station afternoon personality Jim Murray has said he’s not interested in the position. The piece notes that midday personality Rob “Hardy” Poole is being talked about as a candidate for the morning show post. 
the company. Dove, who starts on January 1, comes to Alpha Media from iHeartMedia where he most recently served as Pacific Northwest Region president. Alpha Media president and CEO Bob Proffitt commented on the announcement, “I am very excited to have Robert lead us to new heights, opportunities, and successes. He knows Portland like no other broadcaster, has deep relationships and knowledge of our city’s intricacies, and will be a great addition to our team of market managers all across America.” Dove adds, “I’m very excited to join the Alpha Media team. As a native Portlander having the chance to work with some of Portland radio’s most iconic brands is very rewarding and fulfilling. I can’t wait to get started.” 
Cumulus operates news/talk WXLM-AM in the New London market and news/talk WPRO-AM/WEAN-FM and sports talk WPRV-AM in Providence. Cumulus Media president of operations Dave Milner states, “Holly is an extremely effective and capable leader. Having her lead New London in addition to Providence allows for us to provide enhanced solutions for customers in Rhode Island and Eastern Connecticut.”
five, with The New York Times’ “The Daily” remaining in first place. NPR’s “Up First” is #2 and NBC News’ “Dateline NBC” is #3. Commercial radio-related podcasts of note in the top 20 include The Daily Wire’s “The Ben Shapiro Show” – down two spots to #8 – and Dan Bongino’s “The Dan Bongino Show” – down two spots to #11. FOX Audio Network’s “FOX News Hourly Update” slipped one place to #16.
company’s New Orleans market to take over for Williamson as SVP and market manager for the Chicago market. Williamson reports to Brian Benedik, chief 
revenue officer, and Cassidy reports to Brian Purdy, regional president. Benedik says, “We are thrilled to move Rachel into this new, important assignment. Her leadership experience and expertise with linear and digital audio and video will be a tremendous asset to growing our local business across Audacy.” Purdy comments, “With an impressive multiyear track record of success overseeing our New Orleans cluster, Kevin knows how to grow brands and deliver performance. We are confident that Chicago will continue to thrive under Kevin’s guidance.”
absentee ballots but says he had nothing to do with it. He also says he won’t challenge a judge’s decision to toss the results of the September 12 Democratic primary election and possibly rerun the general election. Security cameras revealed people stuffing numerous absentee ballots into collection boxes in what appears to be a campaign of illegal ballot harvesting. Wexler tells TALKERS magazine the exclusive, one-hour sit down with Ganim made the AP and US News & World Report.
as morning drive news anchor for the “Dallas’ Morning News” program co-hosted by Ernie Brown and Hal Jay. She begins her new position in January. 
President, will also become a Region Division president. In addition, Nick Gnau, formerly a Community Division president, will become a Metro Division president, and Shosh Abromovich and Dan Lankford will add Nick’s former Markets to their responsibilities as the Community Division presidents. Amy Leimbach, who served as senior vice president of sales for Austin, Dallas and San Antonio, will become president of those Markets. The company also announces changes that will enable it to increase its focus on a number of high-growth opportunities. Kevin LeGrett, president of the iHeart Sports Network, makes the transition from his role as division president of Los Angeles to now focus exclusively on leading and growing the company’s leading Political and Sports platforms. Additionally, Tony Coles, president of BIN: Black Information Network, now leads all multicultural efforts as the president of multi-cultural business and development. The new division presidents will report directly to Hartley Adkins, president of the iHeartMedia Markets Group, and Coles and LeGrett, as well as Adkins, will report to Rich Bressler, iHeart’s president, COO and CFO and CEO of the iHeartMedia Multi Platform Group. The company will be making this transition over the next few weeks.
of injured military members and veterans who are undergoing treatment. Group homes at Bethesda, Walter Reed, the VA, Dover AFB, and at military and VA medical centers around the world offer a comfortable place for loved ones to live while remaining close to their injured family members. Fisher House Foundation chairman and CEO Ken Fisher says, “For an incredible 21 years, WMAL and its audience have given to military and veteran families through Fisher House Foundation. We are overwhelmed and grateful for the dedication and incredible generosity in support of our nation’s heroes and their loved ones.” WMAL PD and Cumulus Media VP of news/talk Bill Hess comments, “Year after year, our listeners step up with support for injured veterans and their families. As the Fisher House Foundation approaches its 100th house worldwide, it’s rewarding to know our listeners play such a large role in the organization’s ability to serve the families of our wounded servicemen and women.”
“Steele Talkn’” after 27 years on the air at Audacy’s WCCO-AM, Minneapolis. She told listeners on last Sunday’s final program. Steele made the announcement during her final broadcast on Sunday, saying: “It’s been a blast. I want someone else to come and do a great job and learn, hopefully as much as I have learned. I have been a part of your lives and you have been a part of mine for many years. And I will not forget that.” 
The filing comes as Audacy “continues to engage in discussions with its creditors with respect to a number of potential alternatives regarding a restructuring of the Company’s outstanding indebtedness.” It also announces in the filing that JPMorgan Chase Bank, N.A. has resigned as Letter of Credit Issuer and Swing Line Lender (both as defined in the Credit Facility) and that Wilmington Savings Fund Society, FSB was appointed as Administrative Agent and Collateral Agent under the Credit Facility.
It happens to everyone at least once.
company operates news/talk WHLD-AM, Buffalo; sports talk WRIE-AM, Erie; and sports talk WSKO-AM, Syracuse as well as 11 music-formatted stations. Cumulus Media president of operations Bob Walker states, “We are pleased to expand Beth’s responsibilities over these three key markets for Cumulus. Her deep experience and effectiveness as a leader make her a natural choice for this enhanced role.” 
The fourth of four rounds of ratings information from Nielsen Audio’s November PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. The survey period covered October 12 through November 8. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Milwaukee, iHeartMedia news/talk WISN adds a full share for a 10.7 share (weekly, 6+ AQH share) finish that keeps it ranked #1, while Good Karma Brands news/talk WTMJ loses 1.9 shares for a 7.7 share but remains ranked #2. In Nashville, Cumulus Media news/talk WWTN-FM is flat with a 5.7 share and remains ranked #5, while iHeartMedia news/talk WLAC-AM inches up one-tenth and remains ranked #19. In West Palm Beach, Hubbard Broadcasting news/talk WFTL adds four-tenths for a 2.7 share and stays locked in the #9 rank, while iHeartMedia talk WZZR-FM adds two-tenths for a 2.0 share and climbs to the #11 rank, and iHeartMedia’s news/talk WJNO is flat with a 1.2 share but falls back to the #15 rank. 
2) Audio is powerful. Podcast consumers spend a significant amount of time on YouTube listening to podcasts without watching the video; 3) Since 2019, YouTube and