Industry News

Frank Morano to Be Honored at National Psoriasis Foundation Event

WABC, New York personality Frank Morano is being honored at an event called Fleur de Cure on Wednesday, April 19 at the New York Botanical Gardens in The Bronx to benefit the National Psoriasis Foundation. Morano says, “Clearly, the first 200 people that the National Psoriasis Foundation had on their list turned them down for next Wednesday, so I have the distinction of being honored. In all seriousness, I’m a big supporter of this organization and quite humbled that they picked me to be honored, so I’m hoping not to be too disappointing in terms of getting people to come and/or volunteer.” Morano is host of “The Other Side of Midnight” on the Red Apple Media talk station.

Industry News

Yesterday’s (4/11) Top News/Talk Media Stories

The aftermath of the leaked classified Pentagon documents; China’s saber-rattling military exercises over Taiwan and French President Emanuel Macron’s cozying up to China; the deadly shooting at a Louisville bank and the political debate over gun control; the ruling by a Texas judge challenging the FDA’s approval of the abortion pill mifepristone; legal battles facing former President Donald Trump; the 2024 presidential race; and Elon Musk’s BBC interview were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

98.5 The Sports Hub’s Fred Toucher to Have Throat Surgery

Fred Toucher – co-host of the “Toucher & Rich” morning drive show on Beasley Media Group’s sports talk WBZ-FM, Boston “98.5 The Sports Hub” – says he’ll be having surgery on his throat and thanks a listener for connecting him with the doctor that will do the procedure. Toucher has missed time on the air recently due to a persistent throat problem that’s affected his voice. Other doctors have not been able to pinpoint the problem. Yesterday (4/10), his on-air partner Rich Shertenlieb read a statement from Toucher on the program that read: “My voice has been messed up for a long time. I had been going to doctors and they didn’t seem overly concerned. However, a listener heard me and put me in touch with a doctor he works with. I went and things didn’t go great. He found some things in my throat that concerned him. He told me not to worry because he could fix all of it. Not to sound dramatic but it is possible a listener saved my life by setting up that appointment.” Toucher also said via social media that he plans to be back but is under a “no talking” order from the doctor and adds, “To that, I am grateful, even though the doctor doesn’t take insurance. Between this and my divorce, I’m f—ed financially! Sorry kids – Christmas is going to look a lot different this year.”

Industry News

LiveOne Extends PodcastOne Spin-Out Date to April 20

LiveOne states that its previously announced plan to spin-out PodcastOne as a separate, publicly traded company is being extended to April 20. LiveOne also says that it anticipated that shares will open at between $8 and $12 per share. The good news for LiveOne shareholders is the company expects to increase the dividend of PodcastOne shares to between 12% and 16%. After completion of the successful spin-out – which the company notes is not guaranteed to happen – LiveOne will own approximately 86.3% of the PodcastOne common stock. LiveOne also reports that PodcastOne has repaid $1 million of its debt convertible at $3 and expects to repay an additional $1 million to $2 million. LiveOne intends for PodcastOne stock to be traded on the Nasdaq Capital Market under the ticker symbol PODC.

Industry News

Yesterday’s (4/10) Top News/Talk Media Stories

The leaked top-secret U.S. military documents and their potential effect on the Russia-Ukraine war and U.S. relations abroad; a bank employee fatally shoots five in Louisville before police kill him; one of the “Tennessee Three” is returned to that state’s legislature by the Nashville governing council; the legal battle over the abortion drug mifepristone; former President Donald Trump’s legal battles; China’s ongoing military exercises over Taiwan; criticism of the Dalai Lama over his interaction with a child; the flap over Anheuser-Busch’s trans activist-Bud Light relationship; and legendary Mad magazine cartoonist Al Jaffee dies were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

The Weekend’s Top News/Talk Media Stories

A Texas judge rules the FDA was wrong to approve the abortion pill; the leak of Pentagon documents revealing weakness in Ukraine’s defense and the spying program of the U.S. government; the legal matters facing former President Donald Trump; Supreme Court Justice Clarence Thomas’ acceptance of luxury vacations from friend who is a wealthy Republican donor; the flap over Anheuser-Busch’s trans activist-Bud Light relationship; U.S.-China relations and China’s military exercises over Taiwan; the 2024 presidential race; the ouster of three Democrats from the Tennessee state legislature; and the Easter holiday were some of the most-talked-about stories in news/talk media over the weekend, according to ongoing research from TALKERS magazine.

Industry News

NYPost: Could Carton Be Leaving WFAN for TV Gig?

Andrew Marchand’s New York Post column on Thursday (4/6) looks at the status of sports talk personality Craig Carton with Audacy’s WFAN, New York as his sources say management at cable TV’s FS1 – where Carton hosts a daily morning program – “are looking to own his exclusive rights.” Carton has been hosting “The Carton Show” weekdays from 7:00 am to 9:30 am on FS1 since September of last year in addition to the daily WFAN afternoon drive show he does alongside Evan Roberts. As Marchand writes, doing both shows is time consuming. Carton is up in the middle of the night to get to Midtown for the FS1 show, then does the WFAN show and gets home around 8:30 in the evening. Marchand also speculates that FS1 might believe that Carton’s TV show would draw more viewers if he wasn’t also on “The Fan.” It’s reported that Carton’s contract with Audacy expires later this year so WFAN would like to know what Carton’s plans are sooner rather than later.

Industry News

BOB and TOM’s Kristi Lee Engaged to Be Married

“The BOB and TOM Show” cast member Kristi Lee is engaged to be married to Andy Gilbert and, as is their wont, the rest of the cast toasted – and roasted – her after she announced the engagement on the nationally syndicated show. You can see the show segment on YouTube here.

Industry News

Top News/Talk Media Stories for Week of April 3-7

The arraignment of former President Donald Trump on 34 counts of falsifying business records was the most-talked-about story in news/talk media this week, landing atop the Talkers TenTM. At #2 this week was the 2024 presidential race, followed by the recent gas price hikes and economists’ fears of a recession at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed in news/talk media during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Industry News

Talk Host Jack Harris Vows to Return to Tampa’s Airwaves

After being let go from his two-hour morning drive show on iHeartMedia’s news/talk WFLA, Tampa last week, longtime market talk radio personality Jack Harris says he’ll return to the air in the market. The 81-year-old Harris tells the Tampa Bay Times that there is interest from other broadcasters but the six-month non-compete in his iHeart contract prevents him from working elsewhere right away. Harris says he didn’t get the chance to do a farewell show – something iHeartMedia West Florida president Chris Soechtig denies. Salem Media Group says it’s offered to host a farewell show on its crosstown news/talk WGUL “AM860 The Answer,” but also doesn’t want Harris to get into a legal tussle. Read the whole story here.

Industry News

SummitMedia Names Jeff Lyons Promotion Director for Omaha

SummitMedia LLC brings Jeff Lyons aboard to serve as promotions director for the company’s Omaha station group that includes sports talk KXSP “AM 590 ESPN” and four music brands. Lyons was most recently with Community Broadcasters in Florence, South Carolina as marketing and promotions director. He’s also served in a similar capacity with Cumulus Media, CBS Radio, and Flinn Broadcasting. Lyons says, “I am excited to join the SummitMedia Omaha team. I have heard great things about the company for years and I look forward to the opportunities these stations present. I’m energized by the great team here and ready to have some fun!”

Industry News

Yesterday’s (4/5) Top News/Talk Media Stories

The aftermath of the arraignment of former President Donald Trump in Manhattan on charges related to alleged hush money paid to Stormy Daniels; House Speaker Kevin McCarthy meets with Taiwan’s Tsai Ing-wen in defiance of China’s wishes; Florida Governor Ron DeSantis visits the state of Michigan as he tests the waters for an anticipated presidential run; three Tennessee Democrats face state house expulsion hearing for taking part in anti-gun demonstration; RFK Jr. files paperwork to run for president as a Democrat; Idaho makes it a crime to help a minor get an abortion without parental consent; Kansas bans transgender athletes from girl’s and women’s sports; NPR and Twitter spar over the latter’s calling NPR a “state-affiliated media organization”; economic forecasters fear signs of a recession; French President Emanuel Macron meets with Xi Jinping in China and addresses the Russia-Ukraine war; and the severe storms and tornadoes affecting portions of the U.S. were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry Views

How to Bounce Back and Get a Job

By Walter Sabo
Consultant, Sabo Media
A.K.A. Walter Sterling
Radio Host, Sterling on Sunday

A shocking number of highly qualified broadcasters have lost their jobs.  The venture capitalists that financed the big radio companies are the people who should be fired, but that’s the next column. Let’s get you a job.

When you lose a job there are three actions that will help you land the next job.

— For the first few days, say nothing. Don’t post on social media, don’t answer the phone. You will say something very wrong.

— Every word from you should be that the company that fired you is a great company and you were proud to be there.

— File for unemployment. It’s your money.

Get the Job

— Resumes are a waste of time. I’ve never written one. Focus on the exact job you want, identify the decision maker (which is never in HR) and study. Learn everything you can about the target company and their problems. Write a solution plan. Identify exactly how you can be of service to your potential employer.

— Go to the gym. Just go. A lifetime of pizza delivery doesn’t look great! Get busy. The busier you are the faster you’ll get the job you want. Goodwill, the Salvation Army, and Dollar Tree will hire you today. Get into the stream of work life, it will change your energy.

— In your solution plan, write out how you will help your new employer. The more knowledge you show of your “new” job and company, the more flattered and impressed the decision-maker will be. No one will hire you because you need a job, they will hire you because you will solve a problem. Your plan and solutions will probably be very wrong. It doesn’t matter. You have demonstrated a sincere, studied interest in the company and have made a remarkable effort. Then they have to deal with you. A plan in a three-ring binder cannot be filed. Your plan will sit on the top of a credenza and every time an exec walks into that office, there you are at eye level!

— When you get the interview, show up 20 minutes before the meeting (not an hour). Check out in advance how the employees of the company dress and dress like that. This is no time for self-expression. After the interview, send thank you notes to everyone you met on real paper with a real postal stamp, no emails.

— The goal is to start doing the job weeks or months before you are actually hired. Bring a sales order. Write a positive critique from a listening monitor. Show up at a remote and help.

— TIP. Your odds of landing a job are much greater if you aim for one in the city where you now live.

— Go to the gym.

Walter Sabo was the youngest Executive Vice President in the history of NBC. The youngest VP in the history of ABC. He was a consultant to RKO General longer than Bill Drake. Walter was the in house consultant to Sirius for eight years. He has never written a resume. Contact him at walter@sabomedia.com. or mobile 646-678-1110. Hear Walter Sterling at www.waltersterlingshow.comMeet Walter Sabo at TALKERS 2023 on Friday, June 2.

Industry News

Rainey Rises to VP National Sales for CMG

Cox Media Group promotes Jodi Rainey from director of national sales to vice president of national sales for the radio business. In this new role, Rainey will oversee national, network, and political sales for CMG’s 52 radio stations in 11 markets. CMG says Rainey “came to CMG in 2001 and brings nearly 25 years of industry experience to the national sales team. Along the way, she’s cultivated a track record of success in sales and sales leadership and has produced consistent share growth and exceeded revenue goals across multiple CMG markets.” CMG Radio EVP Rob Babin comments, “Jodi is an outstanding leader and strategic thinker, and she’s passionate about delivering results for our clients. She has a deep understanding of our business and our clients, and I’m confident she’ll continue to deliver exceptional results while leading our national sales team.” Rainey says, “I’m honored to have the opportunity to work with an already successful team that includes talented and experienced leaders. We’ll continue to be laser-focused on delivering results for our clients, creating growth for CMG, and positively impacting the listeners and communities across our markets.”

Industry News

Nikki Ramirez Joins Research Director Inc

Radio pro Nikki Ramirez (Cumulus Media Atlanta and Audacy Miami) joins Research Director Inc as sales & business development lead. Research Director says that “in this new position, Ramirez will accelerate radio stations’ awareness of Research Director’s powerful Programming & Ratings Toolbox, designed to provide a deeper understanding of market performance immediately after Nielsen’s data release.” Company CEO Marc Greenspan says, “We’re excited to leverage Nikki’s extensive radio industry knowledge and experience, both on-air and behind-the-scenes, to fuel our growth in helping radio stations across the U.S. maximize the value of data to improve both their ratings and their revenue. She joins our team at a pivotal time as we look to showcase our unique ability to help clients improve their programming effectiveness and sales success.”

Industry News

Yesterday’s (4/4) Top News/Talk Media Stories

Former President Donald Trump is officially arraigned on 34 felony counts related to the allegation of a hush money scheme prior to the 2016 election; Tuesday’s State Supreme Court race in Wisconsin and the Chicago mayoral race; Finland becomes a member of NATO; Florida Governor Ron DeSantis’ ongoing battle against Disney; and UConn beats San Diego State to win the NCAA Men’s Basketball Championship were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

Yesterday’s (4/3) Top News/Talk Media Stories

Former President Donald Trump’s return to New York for his arraignment in the alleged hush money case involving former porn star Stormy Daniels; the aftermath of the St. Petersburg bombing that killed a pro-Russia blogger; the move by NATO countries to provide more assistance to Ukraine in its defense from Russian aggression; inflation and OPEC’s cutting production that could lead to higher gas prices; the report that the Chinese spy balloon shot down earlier this year obtained information about U.S. military sites; Finland is set to join NATO today (4/4); Ron DeSantis’ battle with Disney; Marjorie Taylor Greene’s appearance on CBS’ “60 Minutes” on Sunday evening; today’s elections in Wisconsin and Chicago; and UConn beats San Diego State in the NCAA Men’s Basketball Final were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

With a New Heart, Hal Jay Returns to WBAP, Dallas Today

Two months after receiving a heart transplant, longtime Dallas radio personality Hal Jay returns to “WBAP Morning News” on the Cumulus Media news/talk station. Regular TALKERS readers are aware that in early January, Jay suffered two ventricular tachycardia events within a week of each other and doctors at Baylor Scott & White Hospital told him, “Your heart is done.” He was placed on the transplant list and told his expected wait would be two to six months for a new heart. Fortunately, it didn’t take that long and on February 3, Jay received a call informing him a heart had become available and he would be going into surgery that night. He received the new heart on February 4 and went home nine days later. Today (4/3), Jay returns to the air alongside his WBAP co-host Ernie Brown. Jay has been a key personality on the station for the past 42 years.

Industry News

The Weekend’s Top News/Talk Media Stories

The indictment of former President Donald Trump by a Manhattan grand Jury and the reactions of the Trump campaign and Trump supporters; Russia’s invasion of Ukraine and Russia’s detention of Americans Paul Whelan and Evan Gershkovich; the killing of a pro-Russian blogger Vladlen Tatarsky in a café bombing; the tornadoes that developed across the South and Midwest and into the Northeast leaving 32 people dead; and the NCCA Men’s Final Four and LSU wins the NCAA Women’s championship were some of the most-talked-about stories in news/talk media over the weekend, according to ongoing research from TALKERS magazine.

Industry News

Triton Digital Publishes February Streaming Ranker

Triton Digital releases its latest ranker of the top U.S. streaming companies for February, based on Average Active Sessions (Mon-Sun, 6AM-12AM). iHeartRadio remains in the #1 spot with 302,332 Average Active Sessions, followed by NPR Member Stations (77,381 AAS) at #2 and Audacy (54,141 AAS) at #3. Other commercial radio firms in the top 30 ranker this month include: Cumulus Streaming Network (40,953 AAS) at #4, Beasley Broadcasting Corporate (40,953 AAS) at #6, Hubbard Broadcasting (15,540 AAS) at #8, Urban One (10,281 AAS) at #10, and Salem Communications (8,533 AAS) at #12. See the complete ranker here.

Industry News

WBAL, Baltimore Adds “Coast to Coast AM” to Lineup

Hearst Television’s WBAL-AM/W268BA “NewsRadio 1090 and FM 101.5” adds Premiere Networks’ “Coast to Coast AM” starring George Noory to its lineup. The show will air locally from 1:00 am to 5:00 am. WBAL director of programming Jeff Wade says, “The show’s unique blend of topics and issues, and live coverage of news events as they happen, make it the ideal complement to WBAL’s live and local daytime talk lineup.” Noory comments, “It’s great to be back in the Charm City! As a young boy, I’d spend many days visiting family, and even took in a few Oriole games. I couldn’t be more excited to be heard on the legendary WBAL.” Noory marked his 20th year as host of the program in January of this year.

Industry News

Audacy Names Ed Egros to Co-Host of “BetQL Daily”

Audacy adds Ed Egros as co-host of “BetQL Daily” on the company’s BetQL Network. Egros joins co-hosts Joe Ostrowski and Erin Hawksworth on the 9:00 am to 12:00 noon ET show beginning April 3. BetQL Network VP Mitch Rosen says, “Ed has become a leading voice on sports betting and analytics over the course of his career and we’re pleased to add him and his perspective to our weekday ‘BetQL Daily’ program alongside Joe and Erin. Through his wealth of experience in sports reporting and analysis, Ed will provide valuable insights to our listeners as they make their betting decisions, while using his expertise to break down games, analyze players and teams, and provide valuable betting tips, strategies and Wagertainment.”

Industry News

Top News/Talk Media Stories for Week of March 27-31

The indictment of former President Donald Trump by a Manhattan grand jury and the other legal battles he’s facing was the most-talked-about story in news/talk media this week, landing atop the Talkers TenTM. At #2 this week was the race for the GOP nomination for the 2024 presidential contest, followed by the deadly shooting at a Nashville Christian school and the larger topic of gun control at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed in news/talk media during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Industry News

Wayne Allyn Root Book Selling Well Thanks to Talk Radio

Las Vegas-based, nationally syndicated talk radio personality Wayne Allyn Root tells TALKERS magazine his latest book, The Great Patriot BUY-cott Book, is doing very well on several Amazon book charts, and he says talk radio is the main reason why. He says, “My new book is out for 48 hours and already it’s a #1 bestseller in many categories at Amazon. And to what do I credit my success at going so quickly to #1? Talk radio. In past 48 hours I’ve been a guest on 30 talk radio shows… plus of course, I’ve promoted my book on my own national radio show. Talk radio works!” Root is an ardent Donald Trump supporter who says the former president linked to his recent opinion piece titled, “Democrats Want to Indict & Arrest President Trump. They Want a War? Let’s Give it to Them” in one of his recent posts on Truth Social.

Industry News

Yesterday’s (3/29) Top News/Talk Media Stories

The aftermath of the Nashville school shooting that took the lives of six; the various legal battles facing former President Donald Trump; the battle for control of Bakhmut in the Russia-Ukraine war; bank regulators are grilled during a House Financial Services Committee hearing; the fire at a migrant facility in Mexico that left 38 dead; the warning from tech leaders to halt the creation of AI systems due to “profound risks to society and humanity”; Arkansas sues social media companies claiming their products are harmful to users; and protests over Israel’s plan to reboot its judicial system were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

Shecterle to Lead Cox Media Group Tulsa

Longtime radio executive Mark Shecterle is named market manager for Cox Media Group’s Tulsa station group that includes news/talk KRMG-FM and three music-formatted outlets. Shecterle was most recently market manager of NRG Media’s Omaha station group. CMG Radio EVP Rob Babin says, “We’re thrilled to welcome such a talented and experienced individual to our team. Mark is an impactful leader who has a strong track record of building and developing great teams, serving the community, and delivering results. His background and experience make him a perfect match for CMG Tulsa’s high-performing team.” Shecterle comments, “I’m very excited to have the opportunity to join CMG, work with the very talented team in Tulsa, and continue the legacy of success for these powerful brands.”

Industry News

Kelly Named Digital Department Director for Woodward Radio

Wisconsin’s Woodward Radio Group (WRG) announces that it is promoting employee-owner Kaytie Kelly to director of the newly formed Digital Department, effective April 3. WRG says that in this position Kelly will lead digital content creation and digital advertising solutions for customers. WRG general manager Kelly Radandt says, “This position has been a long time coming for us here at WRG. Our audiences are consuming our brands in many different ways now. I have no doubt that Kaytie will be exceptional in this role!” Kelly comments, “I’m excited to work with our talented team to build the digital arm of Woodward. There are so many incredible opportunities that lie ahead and I can’t wait to get started!” WRG owns and operates news/talk WHBY/W292FA and sports talk WSCO-AM/W256DD in the Appleton-Oshkosh market as well as four music brands.

Industry News

Jenna Weiss-Berman Rises to EVP of Podcasts for Audacy

Audacy promotes Jenna Weiss-Berman to EVP of Podcasts, taking over for Chris Corcoran, who leaves the company to pursue other opportunities. In this role, Weiss-Berman will oversee Audacy’s podcast network and studios, including Pineapple Street Studios and Cadence13, along with strategy and development of new podcast content and distribution partnerships. She will also collaborate with programming leadership in sports and news in the growth and development of new original podcast content for podcast studio 2400Sports and across Audacy’s 28 local newsrooms in top U.S. markets. Audacy chief digital officer and president, podcast and streaming J.D. Crowley says, “As we commit to accelerating our digital growth and enhancing performance, we’re thrilled to expand Jenna’s role to further unify and streamline our content and business efforts across our leading podcast portfolio, enabling even more rapid development of new and original IP and better leveraging our talent across the entire Audacy portfolio. Jenna’s strong leadership and deep industry relationships will propel us forward on our mission to be a leading partner of audio creators, while super-serving listeners of all backgrounds and interests and enabling our sales teams to better serve our customers and partners with unique and compelling podcast opportunities.”

Industry News

Yesterday’s (3/28) Top News/Talk Media Stories

The deadly shooting at a Christian school in Nashville and the larger topic of gun control legislation; the legal battles facing former President Donald Trump and the ruling that former Vice President Mike Pence must testify before a grand jury in the DOJ’s investigation into the efforts to overturn the 2020 election; 38 migrants die in a fire at an immigration detention facility in Northern Mexico; U.S.-Taiwan-China relations as House Speaker Kevin McCarthy plans to meet Taiwan President Tsai Ing-wen in Los Angeles; the ongoing investigation into the collapse of Silicon Valley Bank and the U.S. banking system; the Russia-Ukraine war and debate over U.S. assistance to Ukraine; and the political upheaval in Israel over Prime Minister Benjamin Netanyahu’s plan to over haul the judicial system were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

TALKERS 2023: Speakers Added to Powerful Agenda

Registration and Hotel Information Available

TALKERS 2023, the 26th annual edition of the talk media industry’s longest running and largest convention is shaping up to be one of the storied event’s most important installments.  The power-packed, one-day event will be presented by TALKERS on Friday, June 2, 2023 on the campus of Hofstra University in Hempstead, New York in association with the prestigious university’s multi-award-winning station WRHU Radio. TALKERS publisher Michael Harrison says, “We are delighted to be able to join forces again with our colleagues at Hofstra – the site of our very successful 2022, 2021 and 2016 events – and enjoy the remarkable resources that its Lawrence Herbert School of Communication brings to the table.” As was the case last year, this event will be held in a COVID-19 compliant environment based upon the circumstances at the time of the convention. TALKERS 2023 will boldly address key issues – some existential – facing the talk radio and talk media industries at this dramatically critical juncture of rapidly accelerating technological and societal change as well as identifying the remarkable opportunities inherent in these developments. It will also provide participants with unique and powerful networking opportunities. The all-inclusive registration fee covering convention events, exhibits, food, and services for the day is $379. Take advantage of the early bird fee of $329 available until 5:00 pm ET on Friday, March 31. Because space will be limited and a sellout is anticipated, all registrations are non-refundable. You can see the list of in-person speakers and get registration and hotel information here.

Industry News

Audacy to Seek Reverse Stock Split

Audacy has filed a schedule 14a with the Securities Exchange Commission providing notice of its annual meeting of shareholders scheduled for May 24. At that meeting, shareholders will consider a number of proposals, including one to permit the board of directors to affect a reverse stock split of the company’s outstanding Class A and Class B Common Stock, at a ratio within a range between one-for-two and one-for-30. A reverse stock split reduces the number of shares that each shareholder owns but increases the value of each remaining share. Audacy says, “We are seeking shareholder approval for the authority to effectuate the reverse stock split as a means of increasing the share price of our Class A Common Stock to be at or above $1.00 per share in order to attempt to avoid delisting by the NYSE. We expect that the reverse stock split will increase the closing price per share of our Class A Common Stock to be above the $1.00 per share minimum price for the required number of days, thereby satisfying this listing requirement. However, there can be no assurance that the reverse stock split will have that effect, initially or in the future, or that it will enable us to maintain the listing of our Class A Common Stock on the NYSE. We are not aware of any present efforts by anyone to accumulate our Class A Common Stock, and the proposed reverse stock split is not intended to be an anti-takeover device.” Audacy was put on notice last August 1 that it was not in compliance with the minimum average closing price of $1.00 per share and faces delisting.

Uncategorized

Wisconsin Firm Attempting Counterpoint to Conservative Talk

A story in WisBusiness profiles the new statewide radio network in Wisconsin called Civic Media whose goal is to “offer a ‘counterpoint’ to conservative talk radio while elevating local and state-level issues.” Company CEO Sage Weil – described as “a successful software developer and a major Dem donor in the state” tells the publication that the “ongoing erosion” of local media is an obstacle that needs to be overcome. He says, “Civic Media’s mission is to refocus our attention on state and local issues, and we’re doing that by building a network across Wisconsin of hometown radio stations that are bringing as much local and state-based content to the airwaves as we possibly can.” The piece says that Civic Media has been acquiring radio stations, but it appears it is leasing at least some of them, such as WMDX-AM/W224EG, Madison “Mad Radio” which is owned by Good Karma Brands. Regardless, it is presenting programming on about a dozen stations with its eye on having about 20 stations in its network. Weil says the network is trying not to be positioned as liberal talk. “We don’t take sides as far as one political party over the other, except that our core values and mission … are around things like democracy, transparency and so on. It’s very difficult to be pro-democracy and not be voting for, you know, Democrats these days.” Read the whole story here.