Industry News

Brandon Beam Re-Ups with “The Fan” in Columbus

Sports talk host Brandon Beam signs a new, multi-year deal to remain with Tegna’s WBNS-FM, Columbus “97.1 The Fan.” Beam currently co-hosts “Morning Juice” with Bobby Carpenter weekdaysim from 6:00 am to 9:00 am. In addition to “Morning Juice,” Beam hosts the Ohio State Buckeyes football network post-game show in partnership with “97.1 The Fan” and Learfield/Ohio State Sports Properties and co-hosts the “Bone and Beam United” podcast. Station program director Matt Fishman says, “Beamer is a smart, versatile personality who has excelled in several roles. We are thrilled that he has decided to stay at ‘The Fan.’” Station manager Cody Welling adds, “Brandon is an emerging talent that has worked extremely hard on his development. I enjoy his energy, his passion for the station, and his love for Columbus, our teams, and our fans.”

Features

Merchandize Your Content!

By Mark Kaye
Talk Show Host
Cox Media Group

imWe have a saying around “The Mark Kaye Show” studio:

“If the audience likes it on the air, they’re gonna LOVE it on a t-shirt!”

Just last month, after moving to vacate Speaker Kevin McCarthy, Representative Matt Gaetz turned around to a House Chamber full of angry, howling Congresspeople and bellowed back…

“Oh BOOOO all you want!”

As we played that clip over and over on my show, all I could think was, “This would make a fantastic Halloween t-shirt!”

Within 24 hours our online store was printing and shipping shirts and hoodies with an AI-generated Matt Gaetz cartoon character standing before a chorus of screaming ghosts with his newly coined catchphrase lingering above: “Oh Boo All You Want!”

It was the hottest-selling item so far this year.

When the feds raided Donald Trump’s mansion in South Florida, I had a friend create an “Remember the Alamo” themed logo that prompted listeners to “Remember Mar-A-Lago.”

We still get orders for those weekly.

And it isn’t just clothing…

My current book The Untold Story of Christmas was born of an annual holiday tradition that began on my show. Many of my listeners pleaded for a copy they could share with their families and loved ones. Not wanting to disappoint them, I published a beautifully illustrated book this year and offered it to my fans. It’s already in its second printing and is quickly climbing up the Amazon charts! (I expect it to be #1 by Black Friday!) And the best part is, they are thanking me for making it available to them.

People want to show their support for you in any way they can and they will give you money if you let them.

The richest guys at the Trump rally are Donald Trump and whoever is selling MAGA hats outside.

The merch line at the Taylor Swift concert is longer than the Great Wall of China.

And if you attend a major sporting event without your team’s logo emblazoned on some article of clothing, well, you just look weird.

But merchandise isn’t just an additional stream of revenue, it’s a bond that can connect you and your audience eternally. They love you. They love your show. They love it for the three hours a day you offer it to them. Unless you offer them something tangible that doesn’t drift off into the ether after you turn off the microphone, they can’t show their fandom the other 21 hours of the day.

Your listeners want to wear your merch and read your books while sipping your signature energy drink and watching your bobblehead nodding along with them as they listen to your show.

If you love and value your audience, and want to keep them listening as long as possible, then simply give them what they want. Create tangible representations of your content. Let them be fanatical about your show even when you’re off the air.

Mark Kaye is the morning drive host at Cox Media Group’s WOKV-FM, Jacksonville. His program is syndicated to other CMG news/talk stations in markets around the country. He can be emailed at: markkayeshow@gmail.com. 

Industry News

iHeartMedia’s 2023 Third Quarter Revenue Falls 3.6%

iHeartMedia released its operating results for the third quarter of 2023 and reports revenue of $953 million, a decrease of 3.6% over the same period in 2022. The company reports operating income of $69 million compared to the operating loss of $211 million it reported in Q3 of 2022. iHeartMedia reports a net loss of $9 million during Q3 2023, down significantly from the net loss of $310 million it reported in Q3 2022. The company breaks down revenue into three segments – the Multiplatform Group (broadcast radio, networks, and sponsorship & events), the Digital Audio Group (digital excluding podcast, andim podcast), and Audio & Media Services Group. In the Multiplatform Group, broadcast radio revenue was $455 million, down 6.1% year-over-year, and networks revenue was $116 million, a decline of 8.6%. In the Digital Audio Group, digital excluding podcast revenue was $165 million, an increase of 1.1%, while podcast revenue was $103 million, an increase of 12.5%, year-over-year. iHeartMedia chairman and CEO Bob Pittman says, “We’re pleased to report that our third quarter results were at the high end of our Adjusted EBITDA and Revenue guidance ranges. Our Digital Audio Group’s performance reflects the strong flow-through characteristics of the business and Podcasting continues to be a strong growth engine for the Company; additionally, while the Multiplatform Group does continue to be impacted by advertising industry uncertainty, we’ve seen sequential gradual quarter to quarter improvement throughout the year and we remain confident that the Multiplatform Group will be an additional growth engine for the company as the advertising marketplace recovers.”

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.”

Features

How News/Talk Radio Should Adapt to Attract and Retain a Younger Audience

By Bill Bartholomew
Talk Host/Podcaster/Journalist/Musician

imFolks in the Gen Z and millennial demographics are heavily engaged in political issues, care about news in their communities and the world, and are constantly bombarded with content.  So why are they less likely to tune into and interact with news/talk radio than older demographics?

Talk radio has historically skewed older, and from an ad portfolio standpoint, is often targeted at the coveted 35-54 and 55+ demographics.  However, in a world where social media influencers and podcasters supply information to millions of young consumers, news/talk radio should be able to effectively compete for the ears of younger generations in a comparable, if not expanded way.

For all of the anecdotal and hard evidence that terrestrial radio may be trending in a downward direction, the format continues to have a vast reach.  It is convenient to engage with it in automobiles, and occasionally in home or office settings.  Yet, while younger generations listen to radio, news/talk is not the format that they turn to by and large.

Unlike many digital-first content producers, radio retains a unique quality: authority.  By virtue of editorial standards, FCC regulation and brand – things that social media and podcasts often lack – radio has the unique ability to deliver credible, vetted, nuanced and universally trustworthy content that can instantaneously adapt to meet the needs of the moment.  This is true in everything from natural disasters to rapidly evolving breaking news stories, providing a channel for immediate, reactionary insight and analysis.

There are several steps that news/talk radio should pursue in earnest to adapt to the current climate of content consumption, particularly by younger listeners, that can reach, and most importantly, retain broader, younger, more diverse and more engaged audiences.

  1. Introduce younger people into the conversation.

Too often, Gen Z and millennials are skewered by older hosts, mocked for their perceived naivety, unchecked optimism and me-first approach.  While some of these qualities can be accurate, that approach reflects a disconnect between older generations and the experience of younger ones.  Millennials and Gen Z have grown up in a post-9/11 world replete with “endless wars”, the fallout from the 2008 financial crisis, runaway student debt, a massive housing crisis, the mental health stressors of social media, Covid19’s impact on traditional youth experiences, climate change, a deeply bifurcated political environment and a constantly evolving quest for social justice.  Through these experiences, younger generations offer an important perspective that should be assigned the same news value as experts from older generations.

Are you discussing shifts towards electric vehicles?  Bring on someone from Gen Z to share their perspective on why steps towards carbon neutrality are important to them.  Engaging a conversation on the president’s approval rating?  Perhaps younger conservative and leftist voices should be included in the conversation.  Discussing immigration?  How about the perspective of a younger member of a Latino organization?

By giving younger generations and more diverse guests a platform, stations can simultaneously expand their content and reach.  With consistency, the station’s brand will become more familiar to younger potential listeners who may be inclined to tune in to hear someone who shares their identity and perspective on – here’s that word again – a platform of authority.  Let the guest do the work of establishing the credibility and importance of your station or talk show to younger audiences by posting about their appearance on social media, sharing audio clips and mentioning to their peers.  It will build familiarity and trust among those generations, who in turn, will begin to tune in on a more regular basis.

Stations should also consider bringing more younger, competent voices into on-air roles, whether that be through reporting, segments, fill-in hosts, weekend shows or full-time hosts.

  1. Meet the audience where they are: their phones. 

As mentioned above, the convenience of simply turning on AM/FM radio is highly appealing in automobiles, though as Apple Carplay continues to adapt and evolve, digital-first content is likely to become as simple and convenient in the near future.

Talk radio needs to make consuming their product on smartphones as simple and direct as turning on a traditional radio.  This means no clunky websites, no lengthy pre-roll spots, a reliable stream connection and a “one touch” means of turning on and off the station.  This should also mean expanding talk shows to high-quality video livestreams, following in the footsteps of the top YouTube and Twitch performers; developing unique content for TikTok and Instagram; building podcasts that are focused on specific issues, and; providing interaction via text and chat.

Radio has the ability to be the ultimate livestreamer, social media influencer and podcaster, but rarely harnesses these platforms in a meaningful way.

It is not enough to simply strive to “expand a digital presence”; stations and shows must engage in the hard work of building platform-specific content with their brands.

  1. Music, cultural references and themes for the modern age.

A few weeks ago on a seemingly benign episode of the TV show FOX NFL Sunday, panelists Jimmy Johnson and Terry Bradshaw offered an example of the type of cultural adaptation that sophisticated writers and producers provide their brands.  While describing a fight between two football players, Mr. Johnson said something to the effect of “when it comes to these two, what’s that Taylor Swift song?”, and then in synch with Mr. Bradshaw, “bad blood!”.  It is highly unlikely that these two 70+ men listen to Taylor Swift’s music with any regularity or would simultaneously pull the “Bad Blood” reference.  Yet, with excellent preparation that played into the greater cultural moment as well as the specific, current Taylor Swift/NFL overlap, in a six-second span, FOX NFL Sunday was able to give the illusion that their panelists are contemporary, hip and plugged into “what is going on”.  Is your station or show plugged into what’s going on?  Do you use contemporary music for bumps?  Are your images – including headshots and social content – modern, interesting and engaging or are they more akin to a miscellaneous real estate agent?  You are a performer in an entertainment business that, while certainly paying homage to the past and lineage of the industry, must be contemporary in aural and visual presentation.  This goes for everything from wardrobe on video and in photo to fonts on graphic design.

How often do you or your producer read Pitchfork to learn about new music that is breaking this week?  How often do you or your producer read Variety to understand major trends that are happening in the broader entertainment industry?  What live events are you broadcasting from, covering and building partnerships with?  You should strive to be cutting edge.

  1. We need a friend now more than ever.

This is something that goes for all audiences, but particularly for younger ones.  It’s OK, in fact, great to be yourself, present yourself from your generation and retain the authoritative stance that has built your brand.  Take a look at the success that sports talker Mike Francesa enjoyed by leaning into his persona – and in turn – developing legions of younger listeners that fell in love with his dad-like delivery and frequent meltdowns.

Few things are as uncomfortable to see as a 40+ person dressing or acting like a teenager.  Younger listeners want that senior, experienced, trusted friend to entertain them, inform them, and at times, tell them that everything is going to be OK.  You can help make sense of the world for younger audiences, something that is absolutely essential in the modern era.

Through attracting younger listeners by including them in the conversation, effectively delivering content on smartphones, presenting a cutting-edge entertainment product and continuing to serve as a trusted friend, news/talk radio can greatly expand its reach, relevance and revenue.

To that point, some younger listeners who discover a radio station or show via any of the above entry points will likely work backwards to the traditional AM/FM dial.  Like the resurgence of vinyl records, AM radio in particular has the opportunity to become a hip delivery format for discerning younger listeners.

The big question is: are radio companies, stations and hosts prepared to do the hard work of reimaging their product?

 

Bill Bartholomew is a talk radio and podcast host/producer, journalist and musician based in Providence, Rhode Island. Email him at: william.f.bartholomew@gmail.com. 
Industry News

TALKERS News Notes

Benztown announces that the StudioTexter texting service and contesting and communications platform created exclusively for radio stations has signed 28 new affiliates in Q3 and Q4, bringing the total number of station affiliates to 100. Benztown president Dave “Chachi” Denes says, “More than 50% of American consumers respond to a text within two minutes, checking their messages around 11 times a day. StudioTexter is a powerful tool, enabling more efficient and authentic engagement with your audience like never before.”

Salem Media Group, Inc announces that it plans to report its third quarter 2023 financial results after the market closes on November 13, 2023. The company plans to host a teleconference to discuss its results that day at 5:00 pm ET.

Premiere Networks and media executive and consultant Buzz Knight announced a partnership to bring Knight’s podcast “Takin’ A Walk: Music History on Foot” to the iHeartPodcast Network, effective immediately. The show features “insightful conversations with interesting people who discuss their love of music. In each episode, Knight takes listeners on a journey through music history with guests who share stories and insights about musicians, bands and the music they create.”

Industry News

Ramsey Solutions Offering Free Financial Peace U. to Veterans

In recognition of Veterans Day (11/11), Ramsey Solutions is offering its Financial Peace University to 10,000 veterans at no cost. Additionally, Ramsey Solutions is including three months of premium access to the EveryDollar budgeting app. And veterans who sign up for FPU will have the invaluable opportunity to participate in group coaching calls with Ramsey Solutions’ team of dedicated financial coaches. Theim company says, “The numbers don’t lie.  America’s military heroes are struggling with money. A recent survey conducted by Wounded Warrior Project finds six in 10 veterans did not have enough money to make ends meet at some point in the past year. The survey also finds the rising cost of goods is the top-rated source of financial strain.” Dave Ramsey comments, “Veterans who’ve selflessly served to protect our freedom deserve to feel freedom for themselves and their families. It’s not just about financial education; it’s about transformation. Winning with money takes sacrifice, perseverance and determination — qualities veterans know all about. We’ll give them the tools, and they’ll get it done.”

Industry Views

Pending Business: Fall Back

By Steve Lapa
Lapcom Communications Corp
President

imWe all need to learn how to fall back. This is not about daylight saving, retreating, or backpedaling. This is about learning from the most valuable brand in tech, the oracle, and the best practices all of us in sales and management must learn to apply.

Let us start with Apple. Demand for the iPhone 15 is not lighting the tech world on fire as slow sales do not even come close to measuring up to the numbers delivered by its predecessors like the iPhone 13 when sales jumped 47% two years ago. What happened to all those Apple fanatics who would line up outside Apple stores or flood the Internet with orders ready to buy the next iPhone?

The must-have Apple loyalists were slowed down by the glitches in the iPhone 15 as we have come to expect design perfection. And why not, when you have nearly 1.5 billion users worldwide and sell nearly 100 million iPhones in the first two quarters of this year? Perfection expectations go hand-in-hand with momentum, innovation, and sales. Perhaps the challenge after 16 years of “new and improved” was too much. Tech is not Tide and Apple is not Procter and Gamble.

What are the lessons we can learn from this lower sales cycle?

— Never assume an unqualified welcome sign from your core customers. We earn the welcome sign every day. Fix the problem faster.

— Always deliver on the promise of new and improved.

— Better to delay than disappoint.

Famed Wall Street guru Warren Buffett recently dealt with losses in several of his holdings by being transparent with his stockholders about the challenges at several of his companies and navigating an unfriendly stock market. This is the same Warren Buffett who supported the Cap Cities minnow (remember that company?) swallowing the ABC Radio whale and still is a stakeholder in media.

The 93-year Oracle of Omaha is nimble enough to shift strategies and adjust his investments to maximize results for his stakeholders.

The Buffett takeaways?

— When performance is not up to expectations, adjust the plan.

— Age can be an asset when experience counts.

— When you are in hole, stop digging.

How many traditional packages and sales promotions have you counted on as sure-fire sellers that unexpectedly failed? What does your fallback plan look like?

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 Views

Monday Memo: TV Synergies

By Holland Cooke
Consultant

imI am always impressed when I see-and-hear radio and TV stations swapping product.

— The most obvious asset is weather. Many radio stations’ forecasts are voiced by local television meteorologists, often gratis because their boss assigned them to, as part of an information alliance. So, the radio station’s weather cred’ stands on the broad shoulders of the weather brand the TV station promotes so relentlessly.

— For some news/talk stations, simulcasting a television newscast is the only way they can air local news in the afternoon. Turn lemons into lemonade. Radio people who love to hate TV audio under-estimate how loyal viewers are; and how conspicuous and convenient this can make the radio station.

— Especially if the deal includes promos – on both stations – voiced by trusted local TV anchors, offering that “If you can’t be home in time to SEE us, you can HEAR us…”

— In every market where we have executed this strategy, the TV talent has remarked about how many compliments they get for being on radio.

— Deal point: During simulcast newscasts, the TV station supers “Heard live on WXXX 8:50 AM.”

How’s THIS for resourceful?  

— A radio station’s afternoon drive newscast consists of a 60-second live shot (or prerecorded live-on-tape) from a local TV newsroom, voiced by the TV anchor who ticks-off “the stories we’re following” that will be seen on evening newscasts.

— The radio station wraps it into a four-minute package, including:

— that live headline package, at the end of which

— the TV anchor hands off to radio’s traffic reporter, then…

— the traffic reporter teases weather into a radio spot, and…

— after the commercial, the weather comes on.

— And here’s the kicker…that live shot from the TV newsroom is a commercial for the TV station! To the listener’s ear, it’s a free newscast from a credible, branded source. Possibly a trade for TV time to advertise the radio station?

im

Another win-win synergy: Reciprocal excerpting, with attribution 

Translation: Each station gives blanket permission for the other to grab, from the air, whatever it wants, crediting the originating partner.

— There will be times when someone from the radio station is on-scene; or when radio scores a newsworthy interview that TV can use the audio of. More often, thinner-staffed radio will use TV sound more than vice-versa.

— When I programmed WTOP, Washington, WUSA9 let us help ourselves to their newscast audio (“And the mayor told Channel 9…”). Each day, our desk and theirs compared assignments, and we recorded every WUSA newscast.

— True story: The news director from NBC4 came to my office and said, “You can use OUR sound, and you don’t even have to say ‘Channel 4!’ Just STOP saying ‘Channel 9.’”

— It was a flattering offer, but we remained loyal to WUSA, the once-upon-a-time WTOP-TV. Decades later we were still getting mail addressed to “WTOP-TV.” And both stations being CBS affiliates contributed to the lingering impression that we were siblings, so the confusion was actually useful. Does your radio station have a long-lost TV brother? 

Radio takes TV where it otherwise can’t go: in-car

Note how aggressively TV stations are programming their apps and websites. They want to be a news brand, not just a news station.

— A smart TV station should want to give radio a ROSR (Reporter On-Scene Report) during the day (when radio audience is high and TV audience is low), because doing so serves to promote the upcoming evening TV newscast.

— WARNING, based on experience: This can be a tough sell to over-protective TV news directors, who may fret that by going-live on radio they’re alerting other TV stations to the story. Stinkin’ thinkin.’ Other TV stations could show up anyway, and they wouldn’t be as-well-known for covering the story as the TV station that’s also already reporting it on radio.

Local TV news is a hungry critter…

…with a limited budget. Which is why some TV stations toss-live to their radio partner’s host: “Gene, what are your callers saying about the congressman’s abrupt resignation?” Arrangements like this were commonplace even decades ago, when TV had to equip the radio studio with equipment more elaborate than modern day video chat requires.

The calculus is simple

Radio + TV > Radio – TV or TV – Radio

(Radio PLUS television is greater-than Radio MINUS television or television MINUS Radio.)

Even if you’re a music station that doesn’t do much news at all, these opportunities are worth exploring. At least trade spots, because neither station can afford to promote as much as it should.

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 “Confidential: Negotiation Checklist for Weekend Talk Radio.” Follow HC on Twitter @HollandCooke

Industry News

NYPost: Mad Dog Backs Out of Stern Stunt

The New York Post’s Christian Arnold writes that it appears SiriusXM sports talk personality Chris “Mad Dog” Russo is backing out of the stunt fellow SXM host Howard Stern created to make up for notim retiring after he promised to do that if the Arizona Diamondbacks beat the Philadelphia Phillies. After the D-backs made the World Series, Stern hosted Russo on his show and got him to agree to wear a Diamondbacks-themed bikini and hold a sign saying, “I am a liar and a dope.” Now it seems Russo is reneging on the deal. Stern, who told his audience he’s done with it, shared a text from a listener who suggested Stern refer to Russo as Chris “Mad Fraud” Russo. Read the Post story here.

Industry News

TALKERS News Notes

PodcastOne announces deals to extend top performing and fan favorite podcasts “LadyGang,” “Gals on the Go” and “Melissa Gorga On Display.” PodcastOne president and co-founder Kit Gray comments, “PodcastOne prides itself on being talent first and ‘LadyGang,’ ‘Gals on the Go’ and ‘Melissa Gorga On Display’ are some of the most talented hosts in the medium. We’re incredibly fortunate to build on a legacy of groundbreaking audio driven entertainment for women. Being able to grow these podcasts in partnership with their hosts has truly been a pleasure over the last several years, and we look forward to what the future has in store.”

VSiN, The Sports Betting Network, adds new affiliate stations in Medford, Oregon and Abilene, Texas. VSiN general manager Len Mead says, “Following new radio affiliates in New Hampshire and North Carolina late this summer, the new football season brings continued expansion of VSiN’s leading sports betting radio network. We’re excited to welcome new fans in Medford and Abilene as we continue to expand our distribution footprint to inform and entertain more listeners than ever before.”

iHeartPodcasts and Novel announce the launch of brand-new weekly podcast, “28 Dates Later with Grace Campbell.” Comedian and writer Campbell goes on 28 dates across two months, only dating people who are the total opposite of her usual type. Listeners not only hear audio from the actual dates, but are also be given a ringside seat to the post-date debrief between Grace and her friends Roz and Dan.

NASCAR crowns it’s Premier Series Champion this Sunday (11/5) at Phoenix Raceway capping its historic 75th Anniversary season. When Motor Racing Network completes its live broadcast from Phoenix, it will signal the end of approximately 350 hours of NASCAR related content produced by the network in 2023.

Industry News

Yesterday’s (10/30) Top News/Talk Media Stories

Israel rebuffs international pleas for humanitarian pause in Gaza attacks and the increasing incidents of anti-Semitism globally; President Joe Biden issues executive order designed to regulate the risks of Artificial Intelligence; former President Donald Trump’s legal battles; the 2024 presidential race; the aftermath of the Maine mass shooting and the other shootings that occurred over the weekend; and the death of actor Matthew Perry were some of the most-talked-about stories in news/talk media, according to ongoing research from TALKERS magazine.

Industry News

Cumulus Media 2023 Q3 Revenue Falls 11%

Cumulus Media Inc is the first audio group to report third quarter 2023 operating results in a year that’s been challenging for all media reliant on advertising. Today’s Q3 report reveals net revenue of $207 million, a decline of 11% over the same period in 2022. Cumulus reports net income during the quarter of $2.7 million, down 68% from a year ago. However, for the first nine months of 2023, the company reportsim a net loss of $19.8 million. Cumulus reports in segments, and for the Q3 period total broadcast radio revenue was $146 million, down 17.4% from a year ago. Spot revenue was down 15.2% while network revenue declined 22.8% from Q3 of 2022. Cumulus’ digital segment reports revenue of $37.2 million, an increase of 6.6%, year-over-year. Cumulus CEO Mary G. Berner states, “Third quarter revenue and Adjusted EBITDA finished in line with expectations with results reflecting the continued dichotomy between local imand national business lines. Despite the challenging environment, we maximized performance by continuing to focus on areas we can control, including growing each of our digital businesses, reducing costs, and improving our balance sheet through non-core asset sales and debt reduction. These actions have further improved the company’s revenue growth profile, operating leverage, financial flexibility, and strategic optionality and, collectively, position us to rebound when the advertising environment improves. While we are continuing to see weakness in national markets, as companies are starting to set their 2024 marketing budgets, we are seeing some initial indications from key national advertisers in several categories that sentiment is improving for next year. That tone, combined with the anticipation of a robust political spending cycle, gives us cautious optimism that we may be seeing the early signs of a market recovery.”

Industry Views

SABO SEZ: Stream to Success

By Walter Sabo
Consultant, Sabo Media Implementers
A.K.A. Walter Sterling
Radio Host, “Sterling On Sunday”
Talk Media Network

imIn May 2007, I was enjoying the brand-new app called YouTube. Still independently owned, still relatively unknown. Some of the videos pulled millions of viewers, more viewers than enjoyed by ESPN or any cable network. More interesting, the videos with high counts were not made by NBC or ESPN or any traditional video source. High view count videos were being made by people with no experience in traditional media, they were experimenters producing in their basements and bedrooms.

As these new performers were pulling major view counts, they revealed that they worked at Starbucks, were going to school and wanting to make enough money to get out of their parent’s house. Wait. Some video creators were winning more viewers than ESPN and they were broke? Simultaneously major brands like Pepsi and Budweiser knew they had to enter the online video space and each attempt was a disaster. BUD TV! Online video entertainment was a brand-new medium; USG User Generated Content.

I started a company called HITVIEWS. The goal was to placed brand messages in User Generated Content. The first company. No one had ever done it. We gathered the top video performers and started to marry them with brands like Pepsi, FOX TVTimberlandMTV,  CBS TelevisionIBMLogitech, many more. A TALKERS conference introduced the first Influencer (we called them “Web Stars”), Caitlin Hill, to radio executives.

From this pioneering initiative into online video, I can share a significant amount of information about the ingredients of a successful video campaign.

  1. Use video stars, influencers, to deliver your message. It’s a different medium and requires different stars.
  2. Engage every capability of the platform. The videos with the highest view counts demand the most interaction with the viewer. Click now. Comment below. Make a response video. Send a text back. THEN answer all responses. Every single viewer response must be answered by you or it is wasted.
  3. It’s not radio or TV. Don’t bother putting up videos at a fixed day and time. Put up as many videos as you possibly can. Two days is too old!
  4. Funny works best.

Online video success makes the medium the message. The touch screen, mouse, keyboard. Audio, video capabilities must all be integrated into the entertainment. If full functionality is not part of the show, the show is boring.

Walter Sabo has consulted the largest media companies worldwide in digital initiatives. He was the on-site consultant for SiriusXM Satellite Radio for nine years. He can be reached by email at walter@sabomedia.com and his network radio show can be discovered at  www.waltersterlingshow.com.

Industry News

SXM’s Mad Dog Won’t Retire; Will Do Stern-Engineered Stunt

After saying he would retire immediately if the Arizona Diamondbacks won their two final games againstim the Philadelphia Phillies to make the World Series – which they did – SiriusXM sports talk personality Chris “Mad Dog” Russo said on Wednesday’s “Howard Stern Show” that the retirement statement was a “throwaway line” and he would not retire. Stern then urged him to accept “punishment” in the form of a stunt: Russo would wear a Diamondbacks-themed bikini and walk down the street in Manhattan carrying a sign saying, “I am a liar and a dope.”

Industry News

Tucker Carlson’s Media Venture Inks Flagship Advertiser

Former FOX News Channel star Tucker Carlson is launching his new digital media platform Last Country Inc and has signed its first flagship advertiser. PSQ Holdings describes its PublicSq. as a “marketplace of patriotic businesses and consumers” focusing “on highlighting the patriotic, parallelim economy found on PublicSq.” The agreement includes collaborative content segments that will air on Tucker Carlson’s show on both X and Last Country’s own platform. Last Country CEO Neil Patel comments, “We are proud to announce that our new media venture will be partnering with PublicSq. as our first advertiser. PublicSq. is a key company in the parallel economy, specifically countering the Chamber of Commerce and Amazon. There is a wave of disruption coming to the media and economic establishment, and our companies will help accelerate this overdue shift.”

Industry News

Audacy Releases Modern Blueprint for Audio Advertising

Audacy is releasing the fifth installment of its bi-annual audio thought leadership series, State of Audio: Level Up, that it calls “a modern blueprint for audio advertising, designed to provide a go-to playbook – including planning tips, creative how-to’s and innovative trends – to help advertisers level up the performance of their audio investments.” Audacy chief marketing officer Paul Suchman says, “Audio is proving itself as a must-have media for marketers. Our advertisers are embracing the power of multiim-platform audio with media plans that utilize radio, digital audio and podcasts, working together to reach audiences with unprecedented precision and drive quantifiable outcomes for their brands.” Some of the findings within the guide include: 1) Audio advertising works harder – driving more than two times the attention of TV and social media at more desirable CPMs; 2) Radio and digital audio are stronger together. A multi-platform audio strategy is so powerful that advertisers see 1.5 times the return on ad spend compared to digital-only campaigns; 3) Advertisers are leaving upwards of $6 billion in revenue on the table by not including total audio – a balanced mix of traditional broadcast radio and digital audio – in their media mix, according to a study conducted by Audacy and Neustar. The report also offers actionable tips for producing effective ads under the section titled, “5 Ways the Best Audio Ads Crush the Status Quo.” Here, Audacy says, “Advertising on the #1 reach media — Audio — will get you the most ears. But to keep them, your creative can’t just be good — it needs to be really freaking great.” See the report here.

Industry News

FOX News and SiriusXM Renew Content Deal

SiriusXM and FOX News Media announce they have signed a new, longterm agreement for SiriusXM toim continue carrying FOX News Channel, FOX Business Network and FOX News Headlines 24/7 exclusively across SiriusXM’s platforms. Additionally, FOX News On-Demand Audio will remain available on the SiriusXM app. FOX News Media president and executive editor Jay Wallace says, “We value our relationship with SiriusXM and are pleased to extend our broadcast agreement, ensuring their audience continued access to their favorite FOX News personalities and powerful primetime lineup.”

Industry News

TALKERS News Notes

SiriusXM announces that Hall of Fame basketball coach Mike Krzyzewski will host the premiere episode of the 19th season of his exclusive weekly SiriusXM show, “Basketball and Beyond with Coach K,” today (10/19) at 6:00 pm ET with Arizona Diamondbacks manager Torey Lovullo, whose team faces the Phillies in game three of the NLCS this evening. Also on the program will be NBC broadcaster Maria Taylor.

Audacy announces the launch of the third season of “Gone South,” the Edward R. Murrow Award-winning original investigative franchise. In “Gone South, Season 3: The Sign Cutter,” Audacy and Emmy- and Peabody Award-nominated producer and journalist Jed Lipinski team up to unravel the story behind the 2018 killings of four sex workers in the border town of Laredo, Texas. Those murders triggered a manhunt for a serial killer that would lead to a shocking standoff with a man once tasked with protecting the town.

AdLarge announces that Headspace Studios joins its podcast portfolio, expanding content focused on mental health, wellness and mindfulness. Headspace’s podcast collection includes “Dear Headspace,” “Radio Headspace,” and “Sunday Scaries.”

Industry News

LA Daily News: Is All-Digital the Best Future for AM?

A piece by Richard Wagoner in the Los Angeles Daily News looks at the question of whether all-digital AM is ultimately the best solution for AM radio’s fidelity and interference issues. He writes, “Over the years, technical improvements have helped make AM sound better, but the erosion of listeners from the band has continued. One potential solution was digital HD radio, but the hybrid HD system introduced itsim own problems by increasing overall interference on the band, leading many stations to abandon it.” But all-digital AM is a much better signal and as more and more infotainment systems in new cars are HD compatible, more listeners are likely. Outfitting AM stations with digital transmitters is not inexpensive, even though they use far less electricity than an analog AM transmitter. And in the United Kingdom where digital audio broadcasting (DAB) launched more than 10 years ago, most commercial radio stations still broadcast an analog signal as well. Even though about 60% of listening in the UK is to DAB signals, Ofcom recently agreed to renew analog licenses through 2032 because many Britons still listen to analog on their old radios. Read the LA Daily News piece here.

Industry News

WGN, Chicago Recognizes Longtime Employees

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WGN Radio celebrates staffers Marlene Wells (left) and Jim Holland (right, with WGN Radio vice president and general manager Mary Sandberg Boyle at center), who have a combined 106 years of service to the station. This year marks the 56th anniversary for promotions, sales, and merchandising coordinator Marlene Wells and the 50th anniversary for engineer in charge Jim Holland. Wells, a Chicago native who recalls fondly the first day she walked in to start the job, has been an integral part of the promotions of the station, from guiding on-site broadcasts to organizing events over the years like PumpkinFest, the Kathy and Judy Conventions and countless others. Holland, a graduate of Northwestern University, was instrumental in the station moves over the years from Bradley Place to the Tribune Tower and to its current location at 303 E. Wacker. Holland did work on “Bozo’s Circus” and designed and constructed a studio switcher system that served WGN for over 20 years. Both appeared in the 45-minute documentary “100 Years of WGN Radio: A Retrospective” that aired in 2022 as part of the station’s anniversary. You can see the documentary here.

Industry Views

Monday Memo: What Aren’t You?

By Holland Cooke
Consultant

imThanks to those who sent comments on last week’s column “Gradually, they know you,” which recommended brevity in explaining to listeners who you are.

Equally important: Clarity that you’re NOT what listeners DON’T want. If you’re a host or programmer, you want to understand listener turn-offs as well as Viking Riverboat Cruise Lines seems to know their prospects.

Promising that “We do not try to be all things to all people,” the Viking brochure promises:

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No children under 18.

No casinos.

No nickel and diming.

No charge for Wi-Fi.

No charge for beer & wine at lunch & dinner.

No umbrella drinks.

No photography sales.

No art auctions.

No inside staterooms.

No smoking.

No waiting in lines.

No format lights, butlers or white gloves.

And the brochure details an “Environmentally Considerate” culture “reducing impact through design & technology,” i.e., solar panels, recycling & waste management, etc.

With SO many audio competitors, we can’t risk ambiguity.

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

Industry News

Harry Hurley Honored for Service to Vets and Community

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WPG, Atlantic City longtime morning star, Harry Hurley received a Congressional Proclamation declared and signed by U.S. Rep. Jefferson Van Drew (R-NJ) of the Garden State’s Second Congressional District for “exceptional efforts to promote and improve the community” as well as serving as an “inspiration to all.” He simultaneously received an award for “outstanding support and service to veterans” from the local American Legion Riders Post 352.  Pictured at the double award ceremony is Joseph J. Giralo, County Clerk, Atlantic County, NJ (right) presenting the Congressional Proclamation to Hurley (left).  Hurley – a noted radio industry serial philanthropist – is a past recipient of the TALKERS Humanitarian of the Year award among many other honors over the years.

Industry Views

The Problems Facing Radio Were Not Caused by Consolidation

By Walter Sabo
Consultant, Sabo Media Implementers
A.K.A. Walter Sterling
Radio Host, “Sterling On Sunday”
Talk Media Network

imAs your friends get fired and on-air hosts are replaced with WideOrbit and Profitable Software, the mournful refrain is to unfairly blame consolidation. Consolidation has, in fact, made the medium financially viable and brought hundreds of individual stations from a river of red ink to the glow of black ink. Prior to consolidation, over half the radio stations in the U.S. lost money – year after year. Not a secret stat, those numbers were revealed annually by the NAB.

The flaw in the deregulation law was the elimination of the rules regarding financing of station acquisitions. Previous regulations required a licensee to prove it had the financial resources to cover expenses through the term of the license. Licenses could not be purchased with debt. Licensees could not sell the license until it expired. Radio stations could not be used for speculatory financial gain. When those rules were tossed, the industry hit a financial tailspin from which it has not recovered. That’s the problem.

That is not a “problem” with radio. In talks with publisher Michael Harrison about his exciting role in the United Nations as executive advisor to World Radio Day 2024, we shared a key observation: The world’s radio industry is overwhelmingly enthusiastic. Working with clients in London, Toronto, Montreal, Amsterdam, Athens and Sydney, the passion for the medium continues to grow and is supported by audience engagement and response.

Internationally, there is a robust radio set design and manufacturing industry. European listeners seek clothing featuring radio set themes and artwork. Believe me, the food at the NAB Europe is much better than that crap served here.

Follow the money. Radio is not legacy media. Radio is proven media – proven for over 100 years. Local retail advertisers are a practical lot. They buy advertising that works for this weekend. If it doesn’t bring feet to the floor and dollars to the door, sponsors just don’t repeat-buy.

I was the in-house programming guru at SiriusXM Satellite Radio for eight years starting pre-launch. The reason Sirius exists is test after test revealed that Americans liked radio so much, used radio so much, they wanted more stations. More choice. More.

Consolidation, with considerable credit to Randy Michaels, allowed radio to convert from a frequency media buy to a reach media buy. That puts radio in budgets with TV. The opportunity right now is to actually monetize radio’s clout as a reach medium. Create scarcity. More spots mean cheaper spots, smaller budgets and higher expense. More spots mean much less efficiency for media buyers. Media buyers have to spend their budgets. They would prefer to spend that money with one or two outlets before lunch rather than having to “make the buy” by purchasing dozens and dozens of stations acquiring spots that are cheap, bonused, thrown in, flanked, and here are some tickets.  The fix starts with raising the price to meet the public’s perception and usage levels of radio.

Walter Sabo has grown audience share for a roster of clients that has included SiriusXM Satellite Radio, RKO, ABC, Apollo Advisors, Hearst, Wall Street Journal Radio and many others. Reach him at walter@sabomedia.com. Learn about his unique radio show at www.waltersterlingshow.com

Industry News

KCMO, Kansas City Adds Full Market FM to Create Tri-Cast

Cumulus Media Kansas City news/talk outlet KCMO-AM is simulcasting its content on the Ottawa, Kansas-licensed Class C1 FM KCHZ (formerly CHR “The Vibe”). This, in addition to it also airing on translator K279BI at 103.7 FM, creates a tri-cast for the programming that the company says expands “coverage and reaching the entire Kansas City market and beyond.” Cumulus Kansas City regional VPim Donna Baker states, “Today Cumulus Kansas City completes the market transformation of our dominant cluster. With recent moves for Kansas City’s hip hop and R&B – now ‘Power 105.1,’ ‘107.3 The Vibe All The Hits,’ and now adding 95.7 FM to the simulcast of 710 AM and 103.7 FM for a tri-cast of ‘KCMO Talk,’ we have the right formats on the right signals reaching the entire Kansas City community. Congratulations to program director Pete Mundo and our leadership team for their tireless work on this important step forward.” Mundo adds, “KCMO has a rich history. As we often say, ‘If it’s IN KCMO, it’s ON KCMO.’ These legacy call letters have been synonymous with shows that engage the audience in conversations about local and national issues that impact their everyday lives. The addition of 95.7 FM provides a crystal-clear audio experience for our rapidly growing fan base and I’m excited to even better serve talk radio listeners across the Kansas City region.”

Industry News

AM Radio Act Gets Support from Rural Organizations

Congressional leadership receives a letter from a coalition of organizations representing rural communities in support of the AM Radio for Every Vehicle Act (H.R. 3413 and S. 1669), legislation that would direct the Secretary of Transportation to ensure consumer access to AM radio in all vehicles because of its critical role in disseminating vital information during emergencies. The groups signing the letter are the Independent Beef Association of North Dakota, Independent Cattlemen’s Association of Texas, Latino Farmers & Ranchers International, Inc., Livestock Marketing Association, National Farmers Union, National Grange, North Dakota Farmers Union, Rural & Agriculture Council of America, U.S. Cattlemen’s Association and Women Involved in Farm Economics. The letter reads, in part: “Whether it be the routine or the unexpected, U.S. farmers and ranchers rely on the information transmitted through AM radio to make decisions that affect their everyday lives. The undersigned organizations urge Congress to prevent rural communities from losing access to their favorite local programming by ensuring that AM radio continues to be a free, standard feature in all vehicles.”

Industry Views

Pending Business: In Radio Sales, It Pays to Be a Great Listener

By Steve Lapa
Lapcom Communications Corp
President

Do you still struggle with keeping the dialogue moving in the right direction on your sales calls? Let’s face it, if you are not careful you could violate one of the golden rules of selling talk radio – be a great listener.

First calls are the most difficult, especially in this era of Zoom, Teams, etc. You try your best to develop rapport, build chemistry and move through a needs analysis as you learn about your potential advertiser. High achieving sellers have that special skill of blending questions and fun facts that build common ground while navigating the needs analysis through a range of questions designed to qualify the prospect and confirm a follow-up call.

Sounds simple enough, but why do most sellers fall short in the starting blocks. There is no mystery here to solve, this is Selling 101 that starts with preparation and ends with a commission check. Let’s walk through some start points:

If you are responsible for any of the 26.5 billion minutes viewed of “Suits” on Netflix, you know that Harvey Spector (lead character) earned millions doing homework and knowing how to ask the right questions. How about you? Are you prepared to ask the right questions and listen to the answers that will lead you to comeback with the right proposal? Sometimes keeping the dialogue moving can be challenging. Perhaps you’ve asked too many questions that went nowhere or just resulted in one-word answers. What to do? A recent article in Make It quoted Matt Abrahams, a public speaking expert at Stanford University’s Graduate School of Business, who suggests saying, “Tell me more” during a conversation is the secret sauce behind improving the communication flow.

Makes sense. Showing genuine interest in what your advertiser is saying, allowing more information to be shared, with you spending more time as the listener helps everyone develop better rapport and move closer to a win-win. I have always been a big fan of another Golden Rule of Sales: “Words matter.” Have you ever finished a call and asked yourself, “Why did I say that!?” It all goes back to preparation. If you know what to ask, how to allow your advertiser to expand on a key point, and do more listening than talking, your sales should increase, and your commission checks will show 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 Views

Monday Memo: Beware the Banter

By Holland Cooke
Consultant

imRadio talkers: What is this hour about? How will listeners benefit from listening? And how long do you expect them to wait to hear that?

To quote Jerry Seinfeld…

“There is no such thing as an attention span. This whole idea of an attention span is, I think, a misnomer. People have an infinite attention span if you are entertaining them.”

Are they entertained hearing about your weekend? About your sidekick/board-op/screener’s weekend? By a long, self-amused, produced show intro? Or are they quickly engaged, by your invitation to weigh-in-on topic du jour? Or by your offering them Q+A access to a guest who can address their concerns?

What if they believe the promos?

 As each day’s news causes us all to wonder “What NEXT???” smart stations methodically invite on-hour listening appointments, for “stay close to the news… a quick update, throughout your busy day.” Whether that’s a network feed or a local newscast, whoever delivers it reckons what is relevant to the lives of the mentally busy, in-car listeners our advertisers want as customers. In consultant-speak, it’s “take-home pay” for tuning-in.

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They may listen mostly to other stations that play music, but those stations aren’t as informative. So – as the weather forecast signals the end of that on-hour update – can you freeze the driver’s index finger in mid-air between the steering wheel and the button for “Kiss” or “Magic” or “Cat Country?”

 Does your A-block rock?

Most common miscalculation I hear? Extended banter before the first break. A-block ends with (finally) a specific, inviting call-in proposition or teases the guest coming up… after the break, when the show really begins.

Better: Tee-up what’s-up immediately as the hour begins. Try this: Make the very first thing you say a question which includes “you” and/or “your.” Then say hello, and swap takes on that topic with your sidekick/board-op/screener.

One warning: Sounding so-quickly-engaging may divert your screener. The phone’s already ringing.

Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of “Your Trusted Voice: How to Attract New Clients More Efficiently than Competitors Who Spend a Fortune on Advertising.” Follow HC on Twitter @HollandCooke

Industry News

15th Annual “Hurley in the Morning” Charity Dinner & Silent Auction Set for Tonight (9/29) in AC

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One of the most respected and impactful local talk radio-related charities in America – Townsquare Media-owned WPG, Atlantic City, NJ host Harry Hurley’s “Hurley in the Morning Charity Dinner & Silent Auction” – is set for tonight (9/29) at the Resorts Casino Hotel in its iconic Ocean Ballroom. This marks the 15th installment of one of the Garden State’s most important annual civic events. More than 263 guests are expected to attend including a who’s who of elected officials, business leaders and broadcast industry luminaries as well as various members of the community. FOX News Radio and FOX News Channel superstar Brian Kilmeade will be this year’s guest of honor and keynote speaker. Kilmeade will be signing copies of his soon-to-be released historical book, Teddy and Booker T.: How Two American Icons Blazed a Path for Racial Equality (Sentinel, 2023). Former State Senator Bill Gormley (R-NJ) will receive the event’s first-ever lifetime achievement award. Since its establishment, the Hurley in the Morning Charity Foundation has raised more than $1.3 million to help non-profit public service organizations throughout New Jersey and beyond including the Broadcasters Foundation of America. Both houses of the legislature have voted to officially make today “Harry Hurley Day” in Atlantic County, New Jersey.

Industry News

Cincinnati to Name Street After Talk Host Lincoln Ware

Longtime Cincinnati talk radio host Lincoln Ware is being honored with a street named after him in the Avondale neighborhood. Ware currently hosts the 10:00 am to 1:00 pm show on Urban One’s WDBZ-AM, Cincinnati. He’s been on the air in the market consistently for the past 50 years, going back to hisim first gig at age 22 in WCIN-AM. WLWT-TV reports that Cincinnati Vice Mayor Jan-Michele Kearney will emcee the street-naming ceremony. She says, “Lincoln Ware is unbelievable. In my office in city hall, we keep the Lincoln Ware show on every day. Somebody’s assigned to listen, and they come back and say, ‘Here’s what they talked about today, listen to this.’ So, you know, we’re always well-informed.” The city says Ware is being honored due to his “lasting impact on the Cincinnati local media community and to health and wellness within the African American community with his Lincoln Ware Walking Club. His legacy, contributions, and dedication to the City of Cincinnati and its citizens will long be remembered.” See the WLWT-TV piece here.

Industry News

“You Better You Bet” Adds Two Distribution Platforms

Audacy announces a series of content distribution partnerships to bolster the reach of BetQL Network’s sports betting show, “You Better You Bet,” hosted by Nick Kostos and Ken Barkley. The company partners with Stadium, an interactive sports network, to bring “You Better You Bet” to audiencesim nationwide via Stadium’s portfolio, WatchStadium.com/Live and Stadium affiliates YouTubeTV, The Roku Channel, FuboTV, Amazon, Samsung TV Plus, Tubi and more. Audacy also agrees to a deal with SiriusXM to air “You Better You Bet” on the satellite radio platform. BetQL Network VP Mitch Rosen says, “We’re thrilled to announce these strategic agreements with Stadium and SiriusXM, which will significantly expand the reach of ‘You Better You Bet,’ solidifying its position as the #1 sports betting podcast in the U.S.”

Industry News

Meeting of the Heavies

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Nationally syndicated Westwood One host Dan Bongino (left) paid a visit to his South Florida affiliate WFTL, Fort Lauderdale where he was greeted by the station’s local star and fellow TALKERS Heavy Hundred member Joyce Kaufman (right). Kaufman’s popular daily show follows Bongino’s 12:00 noon to 3:00 pm slot on the big-signaled Hubbard Broadcasting-owned news/talk outlet.