Industry News

WWO: Studies Show AM/FM and Tax Prep Services a Good Match

The latest blog post from the Cumulus Media | Westwood One’s Audio Active Group contains data from five studies that indicate AM/FM radio is a good medium to advertise tax preparation services. Some of the findings include: 1) AM/FM radio is an ideal medium for the tax preparation category: Heavyim AM/FM radio listeners are 39% more likely to pay $301+ to have their taxes prepared and show greater familiarity, interest, consideration, and usage of tax category brands; 2) AM/FM radio ads drive site traffic for tax preparation brands: In the LeadsRx attribution study of a tax preparation service’s multi-wave campaign, AM/FM radio generated between a 43% to 47% increase in website traffic; 3) Branding early and often in tax preparation service ads drives more site traffic: LeadsRx found the top three creative executions that drove site traffic for a tax preparation service had the marketer’s brand name within the first five seconds of the ad; and 4) compared to other radio formats, a 2023 tax prep campaign on news/talk and sports stations realized a higher percentage share of interactions than the percentage share of their Nielsen ad impressions. See the blog post here.

Industry News

“New Jersey 101.5” and Bill Spadea Partner to Expand Common Ground Podcast

Townsquare Media’s news/talk WKXW-FM, Trenton “New Jersey 101.5” and morning drive host Bill Spadea announce a new partnership that will allow the “Common Ground with Bill Spadea” podcast to reach more viewers throughout the state. The new program will be titled “New Jersey 101.5 presentsim Common Ground with Bill Spadea” and will feature live episodes of the podcast on location from towns, landmarks and businesses across New Jersey. The station says the deal will give Spadea the resources to focus on hard-hitting conversation and longer form interviews with leaders from New Jersey (and beyond). Spadea adds, “This partnership is the next step in the great success of our morning show, which has seen ratings skyrocket in recent years. We’re excited to be bringing multiple remote podcasts to our audience every month and look forward to seeing everyone on the trail!”

Industry News

30th Annual Mayflower Marathon Raises Record Sum for Charity

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The morning duo Bax & Nagle – Mike Baxendale (right) and Steve Nagle (left) – on Saga Communications’ WAQY-FM, Springfield, Massachusetts “Rock 102” headlined the station’s 30th Annual Mayflower Marathon broadcast event that benefits Springfield Open Pantry. The 52-hour broadcast marathon was held at MGM Springfield casino and raised a record $234,733, which is $55,000 more than last year’s event.

Industry Views

Pending Business: Coffee Talk

By Steve Lapa
Lapcom Communications Corp
President

imHave you tried the $7 cup of coffee at Starbucks?

A recent visit to my neighborhood location was an eye-opener. The demographics were broader than a trip to Disneyland. The service was average, as the baristas gave a hearty Moe’s welcome shoutout, heads down cranking out the orders.

A recent study showed 63% of millennial coffee drinkers are good with that $7 price because the coffee experience made them feel good. I was wowed at the acceptance of the price point. If the average consumer goes to Starbucks 16 times a month, that is over $100 a month on coffee. No wonder there more than 16,000 locations in the U.S. We just can’t get enough!

Yes, I am a student of successful marketing no matter what the product or service is. Tide, Starbucks, iPhone – what is it about the product that drives the value proposition? Quality? My gym socks do just as well in the less expensive laundry detergent. Dependability? My iPhone needs rebooting more than I would like to admit. Consistency? Ever taste Pike Place when it is from the bottom of the canister? No product or service is flawless, yet we consistently pay more for some over others. Is it marketing, packaging, or genuine performance? A little of everything.

Let us connect to our sales world.

1) There is no shortage of Tide. Yet it is still the most expensive brand on most supermarket and big box store shelves. Consumers have paid a premium for nearly 80 years because we trust the product. And therein lies the lesson for talk radio sellers. The trust your audience has in your on-air hosts is hard-earned equity reinforced every day.

2) The sit-down experience and service in a Starbucks is unique. From Manhattan to Carmel, California, locally owned coffee shops try, and some may succeed but the overall sit-down experience and service at Starbucks is consistently high-quality, meeting our expectations no matter where you are and so price barriers come down. Lesson #2 for sellers. Is your buyer-seller exchange always at a consistent important level no matter how close your relationship with your advertiser? Even when business is down?

3) There is no way to Google that answer. Put yourself in the shoes of your advertiser, especially a first-time advertiser when the wrong copy runs, an invoice is incorrect, or another issue comes up. Is it quick and easy to resolve a discrepancy? Will you invest the time and patience to ease the process?

Our talk radio business rarely integrates intangibles when it comes to pricing. Competitive, efficiencies and demand traditionally drive pricing. Yet the talk radio personalities are the ones with all the intangibles. From political influencers and offering emergency weather information to life changing news storylines that need interpretation to become more acceptable. Yet through it all, we are still the $1 cup of coffee.

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 News

iHeartMedia Expects $100 Million in Proceeds from BMI Deal

iHeartMedia, Inc announces that in connection with the previously announced acquisition of Broadcast Music, Inc (BMI) to a shareholder group led by New Mountain Capital, LLC, it expects to receiveim approximately $100 million of proceeds related to its equity interest in BMI, subject to approval of the transaction by BMI shareholders and customary regulatory approvals. iHeartMedia says it plans to use the proceeds for general corporate purposes, which may include the repayment of debt. The transaction is expected to close by the end of Q1 2024.

Industry News

WSAR, Fall River, Massachusetts Personality Hector Gauthier Dies

Longtime Fall River, Massachusetts radio personality Hector “Happy Hec” Gauthier died on Fridayim (11/25) after a brief illness at the age of 80. Gauthier had been the host of the “Bristol County Breakfast Club” on Bristol County Broadcasting’s WSAR-AM for more than four decades. Gauthier began working at WSAR in the 1960s. During his career with the station he served as program director, general manager, news reporter, production director, account executive, and copy writer. In 2000, Gauthier was named Radio Broadcaster of the Year by the Massachusetts Broadcaster’s Association. Read the Herald News story here.

Industry Views

Monday Memo: We Don’t Just Do Live Audio Anymore

By Holland Cooke
Consultant

What used to be “a radio station” is now the hub of live AND on-demand audio AND video AND text and graphics. As we populate all the platforms with which we share listeners’ attention (and advertisers’ do-re-mi), I’ve gathered tips from the pros:

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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

FOX News Channel Names Scarpino Correspondent

FOX News Channel announces that Madison Scarpino is named as an Atlanta-based correspondent,im effective December 4. Since January 2022, Scarpino has been serving as a FOX News multimedia reporter based out of St. Louis. In this capacity, she shot, wrote, and edited numerous enterprise and breaking news stories for FNC including the United Auto Worker strike, the Titanic submersible implosion and the border surge in Arizona and Texas. Scarpino is a 2020 graduate of the University of Mississippi with a Bachelor of Arts degree in broadcast journalism.

Industry News

Michael Harrison to Keynote and Be Honored at Next Hurley Charity Dinner in AC

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TALKERS founder Michael Harrison has been named keynote speaker and guest of honor at the forthcoming 16th Annual Hurley in the Morning Charity Foundation Dinner Gala and Silent Auction. The event, organized annually by WPG, Atlantic City morning host and noted radio industry philanthropist Harry Hurley, has raised more than $1.4 million for worthy causes across New Jersey and beyond.  It has become one of the most important annual civicim events in the Garden State drawing 250 guests including government officials, media representatives and community-minded business leaders. The gala will be held on Friday, October 4, 2024 at Resorts Casino Hotel in Atlantic City. Harrison says, “This is a huge honor and I’m looking forward to addressing this distinguished event with observations about the media’s position at the crossroads between politics, journalism and changing social norms.” Hurley tells TALKERS, “Our special event will be taking place four weeks before one of the most consequential national elections in American history… arguably, the most important election since the Civil War era.  It deserves to have a keynote speaker as eloquent as Michael Harrison.”

Industry News

Sports Journalist Donna de Varona Honored with NY Festivals Lifetime Achievements Award

New York Festivals Television & Film Awards announces that it will honor sports journalist, Olympic champion, and award-winning broadcasting pioneer Donna de Varona with the 2024 Lifetime Achievement Award. The New York Festivals Lifetime Achievement Award recognizes prominent industry leaders, innovators, and driving forces in the broadcast industry whose accomplishments haveim advanced their field and made a lasting impression on the industry. It will be celebrated at the Storytellers Gala honoring TV & Film Awards and Radio Awards trophy winners on April 16. Donna de Varona – a U.S. Olympic Hall of Famer – is currently a member of the board of directors of the United States Olympic and Paralympic Committee. She is renowned for covering 18 Olympic Games from multiple networks including ABC, NBC, CBS, and Turner. As a pioneer for women in sports, she played a key role in establishing the Women’s Sports Foundation, serving as its first president and chairman. She chaired the groundbreaking 1999 FIFA Women’s Soccer World Cup and contributed to the formation of the very first IOC athletes commission in 1981 during the IOC Congress in Baden-Baden, Germany.

Industry News

Urban One Files Q1 and Q2 2023 Reports

Urban One has been late with its last few quarterly reports due to issues with its former independent accounting firm’s assessment of the company’s sale of its interest in the MGM Harbor Casino. Now, months after obtaining a new independent accounting firm, the company files 10-Q reports with theim Securities and Exchange Commission for the periods ended March 31, 2023 and June 30, 2023. Briefly, the company’s net revenue for Q1 2023 was $110 million, down 2% from the same period in 2022. The company posted a net loss of $2.7 million for the first quarter. For Q2 of 2023, net revenue was $129.7 million, an increase of 9.2% over the same period in 2022. The company posted a net income of $71 million for that period.

Industry News

WWO: Audio Personalities Drive Advertising Effectiveness

This week’s Westwood One Audio Active Group blog reports on a study by System1 investigating the effectiveness of talent-read ads on podcasts or AM/FM radio. The study is based on the assumption thatim a host-read ad on a podcast or AM/FM radio show drives powerful brand impact and sales effect and positive emotional impact is what measures a successful campaign. System1 studied host-read ads and devised a rating system that correlates creative quality with long-term share growth – in layman’s terms, “the more you feel, the more you buy.” But the study found that only 17% of the ads tested rated high enough to have the sufficient emotional impact necessary to lift long-term brand share by between 1% and 3%. See the complete blog post here.

Industry News

Hannity’s DeSantis vs Newsom Debate Set for November 30

FOX News Channel star Sean Hannity is moderating a live, 90-minute televised debate between Florida Governor and GOP presidential candidate Ron DeSantis (R) and California Governor Gavin Newsom (D) on Thursday, November 30 in Alpharetta, Georgia. “DeSantis vs. Newsom: The Great Redim vs. Blue State Debate” will air on FNC from 9:00 pm to 10:30 pm (and simulcast on FOX News Radio) with a half-hour, post-debate analysis featuring Hannity and a panel of guests. FNC says, “Focusing on the major issues impacting the country, the debate will examine the vastly different approaches the two governors have and offer insights into their political philosophies as well as ambitions for the nation. Throughout the debate, Hannity will highlight a variety of issues in each state, including the economy, the border, immigration, crime, and inflation. Presented without an audience, the governors will have equal opportunity to respond and address each issue.”

Industry News

Dyn-o-mite Duo

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As reported by TALKERS magazine yesterday (11/20) legendary comic and talk show host Jimmie Walker is filling in at Audacy’s news/talk KXNT-AM, Las Vegas this week and next, hosting the 1:00 pm to 3:00 pm show. Pictured at the station with Walker (right) is longtime KXNT personality and market staple Alan Stock (left). Walker is available for fill-in work and can be reached at: dynomitecomic1@hotmail.com.

Industry News

Bearman Guests on McCain Podcast

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Former TALKERS Heavy Hundred radio talk show host Ethan Bearman, of KGO, San Francisco; KSCO, Santa Cruz; and KABC, Los Angeles fame, recently participated as a guest on Meghan McCain’s new podcast titled, “Meghan McCain Has Entered the Chat,” discussing the disturbing wave of anti-Semitism being expressed in the US as a result of the Israel-Hamas War. Bearman left day-to-day talk radio several years ago for a burgeoning career in his own entertainment law firm, as well as teaching at Loyola Law School and engaging in environmental projects in Los Angeles. He’s also an active guest on radio and TV talk shows. Bearman (right) and McCain (left) are pictured when they met several years ago at a TALKERS conference.

Industry Views

Pending Business: The Dilemma

By Steve Lapa
Lapcom Communications Corp
President

imWhat’s old is new again.

From Jonathan Swift and Mark Twain to Winston Churchill, Peter Allen and Carole Bayer Sager, historic influencers have been credited with owning that phrase as long as I can remember.

That single concept is one of the foundational principles of media sales, even today. If you have been selling or managing long enough to remember pay phones on street corners, in hotel lobbies and airports, you should have a special appreciation for what follows. Let’s start with:

1. The “Golden Choice: Ratings or Results.” Which would you rather be selling? Top-rated content, or content that generates top performance results? No, they do not necessarily go hand in hand. Just because you sell major-scale delivery, doesn’t necessarily mean your audience will meet the advertiser’s expectation of performance. Like many of you reading this column, I’ve had the privilege of representing both sides of the dilemma; top-ranked content in radio, TV, digital and social media that did not meet the Key Performance Indicator requirements and smaller scale content that delivered annual renewals, year after year. I work with content that generates millions of impressions weekly and content that does not participate in Nielsen surveys, or delivers moderate scale, yet the old dilemma of ratings or results seems new to the newer digital/social media sales teams making calls today.

2. Does the creative match the audience? This is one of my favorite questions, especially when it comes to host-reads. The greatest talents I’ve worked with are never afraid to ask for the creative freedom to tweak copy points to match their audience. Every great host knows the audience. Sometimes it pays dividends to allow for creative freedom and sometimes it becomes a fast track to a cancellation. The difference is the confidence the advertiser has in you and the talent you represent.

3. Just say no, or go with the flow? When business is soft, most sellers and managers will take the short-term test dollars. Thirteen-week minimums become two-week tests and thus a product or service is given a short-term ride on what should be a longer-term campaign. But let’s face it, we’ve all compromised somewhere to help make the cash register ring a little louder. With a respectful nod to every seller and manager, that timeless call is totally up to you.

From local radio sales and podcasts to digital and social media sales, what’s old is new again and again.

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: Be Conspicuous When Competitors Are MIA

By Holland Cooke
Consultant

imIn a recent column, I outlined win-win radio/TV station alliance tactics. This week, as stations are finalizing 2024 budgets, a tip for advertising your station on TV.

Dominate in January. Why:

— It’s a buyer’s market then, and your message won’t compete with other stations’ promotion. Slaves to conventional wisdom, they will be running DURING the Spring book, because they forgot that radio listening is habit, which will be set long before diaries and PPM will collect data. Smart stations derive a benefit message and set that habit BEFORE the book.

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— If you can trade for over-the-air stations, the price is right. In January they’re lean too. Can you trade – or afford to pay cash for – cable? Two reasons cable might be a better deal:

1. You can target your signal pattern better than over-the-air channels, whose coverage footprint is bigger than yours; and

2. You can buy channels with programming similar to yours. FOX News Radio affiliate? Buy FOX News Channel (and Newsmax).

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

WTVN, Columbus Unveils New Morning Program

iHeartMedia’s Columbus news/talk WTVN-AM launches a new 5:00 am to 9:00 am show called “Columbus’ Morning News” hosted by station program director Mike Elliott. Contributors to the program include sports director Matt McCoy, news reporter Scott Jennings, traffic reporter Johnnyim Hill, and producer Michael Campana. The station says, “Thirty-year market veteran, Elliott, who started at WTVN in 1999 as the producer for Columbus radio legend Bob Conners, will continue to serve as program director for 610 WTVN. ‘Columbus’ Morning News’ will also feature timely guests and newsmakers to wake up information-hungry listeners with the local and national news they need to start each day in Ohio’s Capital City. Elliott adds, “I’ve done everything on WTVN except host my own show, and now I get that chance. I’m grateful to be working with the most talented team in the business every morning to bring the news to the best audience out there!”

Industry News

Fisher House Offers Free Thanksgiving Radio Special

Fisher House Foundation is offering the Thanksgiving Week edition of “The Fisher House Story” to stations for free. The “The Fisher House Story” programs – available now for download – are available in varying lengths: three-hours, one-hour, 25- and 30-minutes for news/talk stations as well as a 30-minute public affairs show designed for all radio formats. The programs are hosted by longtime Washington, DCim radio personality Larry O’Connor and feature stories of our nation’s heroes, the families who serve by their side, and how Fisher House plays a role in their journey. The inspiring and patriotic radio show features an exclusive interview with Jessica Lynch, who recounts her harrowing experience as a prisoner of war during the early days of the 2003 invasion of Iraq during Operation Enduring Freedom. She reveals details of her treatment during her captivity, her rescue, the ensuing years of medical treatment and the special role Fisher House played (and continues to play) in her recovery. Fisher House Foundation provides a home away from home for families of patients receiving medical care at major military and VA medical centers. Fisher Houses provide temporary free lodging so families can be close to their loved ones during medical care because “A Family’s LOVE is Good Medicine.” For more information on this radio special, available cash and barter free, contact Larry O’Connor at 562-665-9537 or loconnor@fisherhouse.org.

Industry News

Audacy Secures Additional Extension on Debt Payment Due Dates

In a new filing with the Securities and Exchange Commission today (11/20), Audacy states that as it “continues to engage in discussions with its creditors with respect to a number of potential alternativesim regarding a restructuring of the Company’s outstanding indebtedness,” it reaches agreements with investors and creditors to again extend the deadline after which it would be in default. Audacy gets an extension on the due date for interest payments on its Credit Facility to November 30 and on its Receivables Purchase Agreement for the October Audacy Party Payment to November 30 and the November Audacy Party Payment Due Date to December 8.

Industry News

Outkick Reports Month-Over-Month Growth

Multimedia sports platform OutKick says that it saw strong growth from September to October with more than 5.9 million total multiplatform unique visitors, up 11%; 24 million total multiplatform views, up 13%im versus the prior month; and 23 million total multiplatform minutes, up 14% versus the prior month, according to Comscore. Outkick founder Clay Travis states, “OutKick’s expansion and growth continues to be the highlight each month. Our content serves those who seek not only common-sense reporting but unfiltered opinions with great perspective on a variety of topics.”

Industry News

WCCO-AM Raises Funds with 21st Annual “Hunger Mission Radiothon”

Audacy’s news/talk WCCO-AM, Minneapolis helped raise over $367,000 to provide meals and care for those in need through its 21st annual “Hunger Mission Radiothon” last Thursday (11/16). The annual radiothon benefits Union Gospel Mission Twin Cities and this year’s event brings the funds raisedim since 2003 to more than $4.3 million. WCCO brand manager Brad Lane says, “We are simply in awe of the incredible generosity of our fans! This is yet another great example of how live and local radio can truly impact lives. We’re so proud of our team for helping share these transformative stories from the inspiring work being done at Union Gospel Mission.” Union Gospel Mission Twin Cities provides food, shelter, programs and services for men, women and children experiencing homelessness, hunger and addiction.

Industry News

TALKERS Legal Editor Steve Weisman Testifies Before Senate on Scamming

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Steven J.J. Weisman, Esq., who has served as the legal editor of TALKERS magazine since the early 1990s, testified yesterday (11/16) before the U.S. Senate Special Committee on Aging about the dangerous proliferation of scams being targeted to America’s senior population.  Weisman, a law professor at Bentley University in Boston and the founder of the popular website Scamicide is a nationally renowned expert on scams and cybercrime. In addition to his prepared statement, Weisman was questioned by US Senators Bob Casey (D-PA), Elizabeth Warren (D-MA) and Mark Kelly(D-AZ). You can see Weisman’s testimony here. Steve Weisman is also this week’s guest on the Michael Harrison Interview podcast you can listen to here. TALKERS publisher, Harrison states, “We are fortunate to have a legal mind as prominent and respected as Steve Weisman’s on our team of communication experts.”

Industry News

Bjorson to Lead Audacy’s Milwaukee Cluster

Audacy names Jason Bjorson SVP and market manager for its Milwaukee market stations that include sports talk WSSP-AM “1250 AM The Fan” and four music brands. He most recently led a new business sales team for an HR tech company in the SaaS space and oversaw advertising sales teams forim Spectrum Cable. During his career he’s also served with Cox Radio in Jacksonville and the former Journal Broadcast Group at WTMJ, Milwaukee. Audacy regional president Rachel Williamson states, “I am excited to welcome Jason to lead our Milwaukee cluster. His experience across radio, video and digital combined with his deep knowledge and relationships throughout the Milwaukee market brings an increased expertise to our cluster and clients.” Bjorson comments, “I’m thrilled to join the Audacy Milwaukee team, with some of Milwaukee’s most iconic brands and an innovative broadcaster. I’ve competed with this team and tried to recruit them for years, so I know how much talent is here. I’m looking forward to working with them to win big here in Milwaukee!”

Industry News

WEEI, Boston’s Greg Hill Signs Multiyear Extension

Morning show personality Greg Hill signs a multiyear contract extension with Audacy’s sports talkim WEEI-FM, Boston. He’ll continue to lead his program that includes cast members Jermaine Wiggins, Courtney Cox and Chris Curtis. Audacy Boston SVP and market manager Mike Thomas states, “We are thrilled to extend Greg’s contract and keep the momentum going for his award-winning morning show. We look forward to having Greg, alongside Jermaine and Courtney, continue to set the tone for our weekday programming and deliver entertaining content for our listeners for the foreseeable future.”

Industry News

FOX News Digital Tops Competitors in Multiplatform Minutes

FOX News Digital announces that it finished the October ratings period #1 in multiplatform minutesim among digital news brands, according to data from Comscore. FOX News Digital reached 3.4 billion multiplatform minutes, compared to 2.3 billion for CNN.com and 1.5 billion for NYTimes.com. FOX News Digital racked up 1.8 billion multiplatform views, compared to NYTimes.com’s 1.5 billion and CNN.com’s 1.4 billion. CNN.com leads the pack in multiplatform unique visitors with 129 billion compared to FOX News Digital’s 92 billion and NYTimes.com’s 75 billion.

Industry News

KFI, Los Angeles Presents 13th Annual PastaThon

Los Angeles news/talk outlet KFI announces the 13th annual “KFI PastaThon” event to benefit Caterina’s Club – a local charity that provides more than 25,000 nutritious meals every week to childrenim in need in Southern California. The charity also helps families get back into stable home environments and teaches teens the skills they need to work in the hospitality industry. On ‘Giving Tuesday’ (11/28), the iHeartMedia station will host a live, all-day broadcast at the Anaheim White House featuring station personalities Bill Handel, Amy King, Gary & Shannon, John & Ken, Tim Conway Jr and Mo Kelly during which they’ll ask listeners to collect money and pasta and sauce donations for Caterina’s Club. 100% of donations collected go directly to Caterina’s Club. Also, from November 15 through December 3, Smart & Final locations in California, Arizona and Nevada and Wendy’s restaurants in Southern California will offer customers an option to donate to the “KFI PastaThon.”

Industry News

Motor Racing Network Co-Founder Ken Squier Dies at 88

Motor Racing Network co-founder Ken Squier passed away on November 15 at age 88. Squier, who was Motor Racing Network’s first anchor, was also known for his time broadcasting NASCAR on theim CBS Television Network and later with TBS. MRN says that NASCAR founder Bill France Sr. encouraged Squier to build a nationwide network of radio stations to cover the growing sport. He began with his family-owned WDEV-AM/FM in Waterbury, Vermont and Daytona Beach’s WNDB-AM – both of which still air MRN programming today.  He added hundreds more stations to air the very first MRN broadcast of the Daytona 500 in 1970.

Industry News

Bloomberg: Audacy Gambled on CBS Radio Merger

A piece at Bloomberg by Ashley Carman looks at the $1.5 billion 2017 merger of Audacy (formerly Entercom) and CBS Radio and concludes that the deal has been a back-breaker for the company as Carman writes, “Now, six years later, Audacy is struggling under the weight of $1.92 billion in debt and shriveling demand for radio advertising, an industrywide plague.” The piece goes beyond just Audacy’sim financial struggles and looks more broadly at how radio as a legacy medium is facing “the same headwinds as other traditional media.” Carman adds, “Stations are losing their grip on younger audiences, and advertisers are tuning out. Fresh sources of revenue, like podcasts and streaming audio, are going to new contenders such as Spotify Technology SA or just failing to make up for the lost radio ad dollars.” The U.S. radio business has always touted its reach, but according to Lauren Russo, EVP at ad buyer Horizon Media, broadcast radio faces real problems. “The broadcast marketplace is extremely soft for ’23 and similarly for ’24. The overall audio ecosystem continues to grow from a streaming and podcasting perspective, but at the expense of broadcasts.” Read the Bloomberg piece here.

Industry News

Urban One Gets Waiver from BoA for Late Quarterly Reports

In a filing with the Securities and Exchange Commission, Urban One reports that it has entered into a fifth waiver and amendment to its “Current ABL Facility, dated as of February 19, 2021 with the Company, the Company’s subsidiaries guarantors, Bank of America, N.A., as administrative agent and the lenders party thereto.” This action waives certain events of default under the Current ABL Facilityim related to Urban One’s failure to timely deliver quarterly reports for the first and second quarters of 2023 and sets a due date of November 30, 2023 for those and a December 31, 2023 due date for the third quarter financial report. Urban One also reports that it has received an Additional Staff Delisting Determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC due to the delinquent Q3 2023 report. Urban One has a hearing set for November 30 and anticipates filing the delinquent Q1 and Q2 reports prior to the hearing. It also expects to file the Q3 report on or about December 31, 2023 and will present its plan to evidence full compliance with the Nasdaq listing criteria at the hearing.

Industry News

KYW, Philadelphia Anchor Carol MacKenzie Sues Company for Discrimination

In a suit filed in U.S. District Court for the Eastern District of Pennsylvania, KYW, Philadelphia morning drive anchor Carol MacKenzie is suing employer Audacy for discrimination, claiming she’s been systematically paid less than her male counterparts and less than younger staffers doing similar work.im MacKenzie’s complaint paints a picture of her being consistently paid less than male and younger staffers that goes back to when she first joined the station when it was owned by CBS Radio. It says that from the beginning she was paid “about $20,000-$30,000 per year less than” her co-workers in comparable positions. MacKenzie says that the SAG-AFRTRA investigation into KYW’s compensation practices in 2021 confirmed her belief the company was engaged in gender-based pay inequity. In 2022 MacKenzie did agree to a deal with the company that paid her $150,000 per year for 2022, $152,500 for this year and $155,000 per year for 2024. But she says she has suffered “significant harms and losses” over the years and is seeking back pay, liquidated damages, interest, costs, negative tax consequence damages, injunctive and declaratory relief, and attorneys’ fees.

Industry Views

SABO SEZ: Seek New Story Sources and Surprise Your Listeners

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

imEarlier this week, Michael Harrison published his top 10 list of suggestions for being a successful talker. Item number three really caught my eye:

“Avoid worn out talking points. Be original. Always bring something new to the table. Otherwise you DESERVE to be replaced by AI.”

 When consulting client stations, the PD and I will take the on-air team through a pragmatic brainstorm session to discover completely unused source material.

First the material should be intriguing to you and appealing to your listener (singular.) New sources mean surprises and the fastest and most economical method of generating word of mouth, phone calls and cume is to present surprises all day.

1. Close to home. Pay foreground attention to incidents at home. Your home. Events that you may view as mundane could bond you with your listener. Consider that water in the basement, check engine light, parent/teacher conference, bad bank behavior, in-law interference. If any of those experiences has happened to you, you honestly know that they are a bigger deal than speeches in Congress.

2. Search the names of locations that you never discuss. Those searches have revealed to me and my listener that the number one fear in Siberia is the vast forest fires and that as the permafrost melts, it could expose million-year-old deadly viruses. One “Siberia news” search. Try this, search “Keith Fons North Pole Alaska” You will discover a bizarre Christmas story.

3. Local morning TV shows have unique fun stories that you don’t see because you’re listening to the radio. Go to their websites and you will see all of their topics, with audio, dated. 

Take a different approach to proven topics. A trait of successful hosts is that they discuss common topics but take a very different tact. Some examples: When TV legend Ann Bishop of WPLG Miami died, fellow broadcaster Neil Rogers mourned Bishop by saying, “She did nothing for me, sir.”

On crime in Cleveland, the late Mike Trivisonno on WTAM declared, “the best thing that could happen is for the Mafia to come back to Cleveland.”

Howard Stern surprises you every time he opens his mouth. It’s the fresh topics combined with surprising POV=Star. 

Walter Sabo has an outstanding track record advising media companies wishing to increase their share of revenue. His weekly syndicated show Sterling On Sunday aims to provide three hours of completely unique topics.  Contact him at walter@sabomedia.com or 646.678.1110