Judge Approves Audacy Reorganization Plan
As expected, United States Bankruptcy Court for the Southern District of Texas Judge Christopher M. Lopez approved Audacy’s Chapter 11 reorganization plan in which Audacy will equitize approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to approximately $350 million. Prior to yesterday’s hearing, there were only two objections to the plan filed and both were
settled beforehand. Audacy expects to emerge from the Chapter 11 process after approval from the FCC. Audacy chairman, president and CEO David J. Field says, “Today’s announcement marks a powerful step forward for Audacy, positioning the company for an exciting future. As expected, we have achieved a speedy confirmation of our prepackaged Plan, which will enable Audacy to pursue our strategic goals and opportunities in the dynamic audio business. We aim to drive accelerated growth and financial performance, capitalizing on our scaled, leadership position, our uniquely differentiated premium audio content and the robust capital structure that we will have upon emergence. I also want to express my gratitude to our team, who continue their outstanding work to serve our listeners and customers with excellence and fulfill our commitments without missing a beat.” The company notes that under the Plan, trade and other unsecured creditors will not be impaired.
The first of four rounds of ratings data from Nielsen Audio’s January 2024 PPM survey has been released for 12 markets including New York, Los Angeles, Chicago, San Francisco, Dallas, Houston, Atlanta, Philadelphia, Nassau-Suffolk (Long Island), Riverside-San Bernardino-Ontario, San Jose, and Middlesex-Somerset-Union (New Jersey). The survey period covered January 4 – 31. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In New York, Red Apple Media’s news/talk WABC-AM adds half a share to finish with a 3.5 share (weekly, 6+ AQH share) and remains ranked #11, while iHeartMedia’s news/talk WOR-AM rises half a share to a 1.7 share that lifts it to the #17 rank. In Los Angeles, iHeartMedia’s news/talk KFI adds nine-tenths for a 4.5 share finish good for the #3 rank in the market. In Chicago, Nexstar Media Group’s news/talk WGN-AM is up a half share, finishing with a 3.1 share and the #10 rank, while Cumulus Media Group’s news/talk WLS-AM rises two-tenths to a 1.9 share and moves up one spot to the #18 rank. And in Atlanta, Cox Media Group’s WSB-AM/WSBB-FM claims the #1 rank after rising 1.2 shares to an 8.6 share. 
the Bucks,” presented by Gallagher; “Hear District,” hosted by Marques and Kris Johnson, “Bucks in Six,” hosted by Greg Matzek, “Thanalysis,” hosted by Thanasis Antetokounmpo and “Courtside with Gale Klappa.” GKB Milwaukee market manager Greg Scalzo says, “Bucks+ Audio connects Bucks fans to the team in an innovative audio format. The first podcasts provide a deeper look into the Bucks and share untold stories of the team and organization.”
January 2024 PPM Data – Information for the January 2024 ratings period (January 4 – January 31) has been released for New York, Los Angeles, Chicago, San Francisco, Dallas, Houston, Atlanta, Philadelphia, Nassau-Suffolk (Long Island), Riverside-San Bernardino-Ontario, San Jose, and Middlesex-Somerset-Union (New Jersey).
news/talk outlet and has been admitted to the hospital at UPMC dealing with what he called “crazy, insane” pain in his throat. Griffin, who battled throat cancer several years ago and has been in remission, says that late last week he couldn’t swallow anything and that the pain was something he never felt in his life. At this time, Griffin has been diagnosed with pneumonia, but doctors are also trying to determine if he has an infection of if the cancer has returned.
Court TV correspondent since 2019, Painter has covered the high-profile trials of Bryan Kohberger, Johnny Depp v. Amber Heard, Alex Murdaugh, Harvey Weinstein, and the death of George Floyd. In 2021 she was awarded the Scripps Give Light award for leadership, dedication, and hard work in legal journalism. She got her start in the industry in 2016, as a legal analyst for Nexstar Media Group, where she went on to become a multimedia journalist. Painter earned a Juris Doctor degree with high honors from the University of Arkansas Little Rock Bowen School of Law.
non-partisan media company, RealClearPolitics. The “RealClearPolitics” show premieres on February 26, airing nightly from 6:00 pm to 7:00 pm ET on SiriusXM’s P.O.T.U.S. channel 124. RealClear Media Group chief content officer Andrew Walworth hosts the show along with co-hosts Carl Cannon and Tom Bevan. 
Have we passed the disappointment of 2023?
If you’re a news/talk station, don’t assume that you own “news radio” in your market. Imaging is important, but it merely talks-the-talk. You walk-the-walk with local news copy that delivers what solid commercial copy does: benefits. Just doing local news makes you special. But do listeners simply hear a station voice… reading something? Are you merely… accurate? Or do you deliver “take-home pay,” unwrapping the story to tell the listener something useful?
Jacksonville. Both stations will air the full slate of FOX Sports Radio programs. These format flips spell the end of the “Accion Radio Network” airing Spanish-language news/talk and information. iHeartMedia North Florida area president Paul Rogers says, “We remain fully committed to providing the best quality entertainment and information to the Hispanic residents on the First Coast and will continue to explore ways we can increase our impact there. The opportunity to return the FOX Sports brand to its original home on AM 930 in Jacksonville was simply too good to pass up. Its appeal cuts across and unites every segment of our community.”
reach 17% more voters.” The study references Pennsylvania Senator John Fetterman’s 2022 campaign, noting that it deployed radio to reach voters in Philadelphia and Pittsburgh. In doing so, it allocated 20% of media dollars to radio and generated a 10% lift from radio above the local TV campaign, amounting to 676,000 additional voters at no extra cost. Audacy SVP of strategy, partnerships and analytics Jon Blum says, “When campaigns activate a TV plan, they should activate a corresponding radio plan and incorporate it into the mix with TV. The portion of the population that isn’t reachable via TV could be the swing vote and what throws it over the top for a candidate.” Nielsen’s study noted that if a campaign moved 20% of ad spending to radio, the optimized media plan would connect with 15% more Democratic and Republican voters and 23% more unaffiliated voters. 
the month reaching 3.27 billion total multiplatform minutes, compared to CNN.com’s 1.85 billion, and NYTimes.com’s 1.59 billion. FOX News Media attracted 1.66 billion total multiplatform views, compared to NYTimes.com’s 1.49 billion, and CNN.com’s 1.17 billion. When it comes to total digital unique visitors – similar to radio’s cume – CNN.com still holds the lead with 112.7 million. But FOX News Digital (109.7 million) has gradually been gaining ground on CNN. 
challenges. The mix of diverse and insightful voices on this year’s boards will continue the important work of prioritizing recognition, connection and education of women across all facets of media.” The officer roles include: Katina Arnold, chair, VP, corporate communications, ESPN; Monica Bloom, incoming/vice chair, chief marketing officer, MHz Choice | Topic Streaming; Annie Howell, immediate past chair, chief communications officer, Hallmark Media; Catherine Badalamente, treasurer, president & CEO, Graham Media Group; and Marie Tedesco, treasurer-elect, CFO, Beasley Broadcast Group. New to the board of directors are: Isabel Lara, chief communications officer, NPR; Jaclyn Levin, president, Shriver Media and founder, Liminal Space Media; Christine Moran, head of creator partnerships, Electrify Video Partners; and Debra O’Connell, president, news group and networks, Disney Entertainment. 
spot. But the big story is the rise of WSE Originals’ “New Heights with Jason and Travis Kelce” shooting from #67 in the Q3 2023 report to #6 in the Q4 chart. (The show was not in the top 100 in the Q2 2023 survey.) Edison says the show starring Taylor Swift’s boyfriend Travis Kelce “gained four and a half times the number of listeners and saw a change in composition to 50% female listeners.” Other noteworthy moves from radio-related podcasts include The DailyWire’s “The Ben Shapiro Show” rising from #17 in Q3 to #9 in Q4 and Cumulus Podcasts Network’s “The Dan Bongino Show” climbing from #29 in Q3 to #26 in Q4. Edison’s Q4 2023 ranker was conducted from October 9, 2023 to December 23, 2023, and is based on surveys of 5,356 weekly podcast listeners age 13+.
previously announced acquisition of Broadcast Music, Inc. (“BMI”) to a shareholder group led by New Mountain Capital, LLC has closed, and the company has received $101.4 million of proceeds related to its equity interest in BMI. iHeartMedia says it plans to use the proceeds for general corporate purposes, which may include the repayment of debt.
to connect with their favorite hosts and shows on social media. Half of weekly podcasts consumers follow their favorite podcast hosts on one of the social platforms; 2) Younger 18-34 podcast consumers are more likely to follow their favorite hosts on social media. Compared to 35-49 and 50+ podcast consumers, 18-45 podcast consumers are more engaged socially with podcast hosts. 68% of podcast consumers 18-34 follow their favorite hosts on social media. 55% of 35-49s follow favorite hosts on social. 40% of those 50+ follow favorite podcast hosts on social; and 3) YouTube towers as a podcast discovery platform: 19% of weekly podcast consumers use YouTube to find podcasts. When asked which social platform they’ve used to find podcasts, 19% of podcast consumers are turning to YouTube, more than all other social media platforms combined. 
while traditional podcast metrics and rankers have focused on the RSS distribution of podcasts, Podtrac’s new Global ranking also includes the viewership of podcasts on YouTube – another industry first.” The company adds, “By encompassing YouTube viewership alongside traditional metrics, the industry gains an improved framework for capturing podcast engagement across platforms and borders. It provides advertisers, agencies, and industry stakeholders with the reach and influence of the key podcast players.”
2022. Beasley CEO Caroline Beasley says, “Beasley’s fourth quarter and full year financial results reflect the impacts of cyclical political revenue and ongoing advertising market softness, partially offset by the continued success of our revenue diversification strategy and cost management initiatives. Net revenues for the 2023 fourth quarter and full year decreased by $6.3 million and $9.3 million, respectively. Excluding the impacts from a decrease in political advertising and the company’s dispositions of WWWE-AM, WJBR-FM and the Houston Outlaws in 2023 and WWNN-AM 
and KDWN-AM in 2022, partially offset by the company’s acquisitions of KXTE-FM and Guarantee Digital in 2022, revenues would have decreased by $0.2 million and $1.3 million in the 2023 fourth quarter and full year, respectively… For the better part of the year, we continued to execute on our successful growth agenda for our digital business that capitalizes on the value of our strong local brands, unique local business relationships and proven marketing capabilities. While macroeconomic pressures held fourth quarter digital revenue flat compared to the prior year, Beasley delivered meaningful full-year digital revenue growth, up 11.4% year-over-year. Our digital business represented 18.4% of full year 2023 revenue. We remain laser focused on prioritizing the growth of our digital platform as a means to diversify our revenue in a cash flow positive manner, and we expect digital revenue to account for between 20% and 25% of total revenue in 2024. Our dedicated sales teams also continue to leverage the tremendous audience reach and engagement of our local multi-platform content to attract new advertisers, resulting in fourth quarter and full year new local business revenue growth of 52% and 20%, respectively. Additionally, the actions we have taken to reduce costs drove a year-over-year decline in operating expenses of 3.3% in the fourth quarter and 2.3% for the full year.”
Jessica Tighe, who joins the station from “CBS58” airing from 11:00 am to 1:00 pm; “Spanning the State,” hosted by As Goes Wisconsin founder Kristin Brey, airing from 1:00 pm to 3:00 pm; and “Wisconsin’s Afternoon News” host John Mercure is joined by new co-host Julia Fello, formerly a lead reporter at WTMJ-TV. Good Karma Milwaukee market manager Greg Scalzo comments, “As a Wisconsin-based media company, we are excited to further our commitment to providing best-in-class news content that unites the state and strengthens the communities we call home. With this new lineup, one thing we wanted to emphasize is a shift in who we hear on the station and how our content can be consumed. Our fans will hear from hosts with new, diverse perspectives and experiences with shows and stories distributed across all mediums to reach fans where they are. We remain dedicated to continuing 620 WTMJ’s storied legacy, delivering purposeful news and telling the stories that matter to you throughout Wisconsin. Our new shows and voices will give us more of an opportunity to relate and be relevant to anyone who tunes in, while staying committed to the mission of being Wisconsin’s News Radio.”