Urban One Receives Non-Compliance Notice from NASDAQ
Urban One reports that it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC on April 8 notifying the company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K for
the fiscal year ended December 31, 2023, with the Securities and Exchange Commission. Urban One now has 60 calendar days, or until June 7, 2024, to submit a plan to regain compliance. If Nasdaq accepts the compliance plan, the Nasdaq staff may grant the company an exception of up to 180 calendar days from the filing’s due date, or until September 11, 2024, to regain compliance. Urban One says it is working diligently and expects to file its 2023 Form 10-K within the 60-day period, which would eliminate the need for it to submit a formal plan to regain compliance.
The media headlines are dizzying these days, yet they all share one common thread. See if you can solve this puzzle.
Thank me later for these Blackjack tips, based on many convention years’ experience, sometimes painful:
Time in its previously announced Exchange Offer and Consent Solicitation, in which it is offering to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 for new 8.750% Senior Secured First-Lien Notes due 2029, to April 16, 2024 at 5:00 pm New York City time. As of Friday (4/12), approximately $15 million aggregate principal amount of the Old Notes had been validly tendered pursuant to the Exchange Offer and Consent Solicitation and not withdrawn.
Grey, Eugene DePasquale, Joe Kahn, Jared Solomon and Jack Stollsteimer will face each other live on April 17 from 8:00 am to 9:00 am during KYW Newsradio’s “Philadelphia’s Morning News with Ian Bush & Carol MacKenzie.” All candidates will be on stage in the KYW Newsradio studio space, except DePasquale, who will join remotely via Zoom. KYW brand manager Kristina Koppeser says, “We’re proud that KYW Newsradio continues to be the place for comprehensive coverage of Pennsylvania politics, especially in such a crucial election year. Giving voters details on candidates and their platforms is a vital part of our mission
through the 2026-27 National Hockey League season. Troy Murray and John Wiedeman have also agreed to a three-year extension for live game coverage with pregame, intermission and postgame shows led by Joe Brand. WGN VP/GM Mary Sandberg Boyle comments, “The Chicago Blackhawks are a premium sports franchise, and we take pride in being able to deliver exciting Blackhawks hockey to the best fans in the NHL, wherever and however they choose to listen. In addition to providing high-quality, live game broadcasts, the collaborative partnership between WGN Radio and the Chicago Blackhawks ensures that fans and partners will be superserved for every game.”
This tribute recognizes Rotella’s pivotal role in combating substance misuse during his 14-year tenure as president and CEO of the New Jersey Broadcasters Association (NJBA). Rotella says, “One of my first official acts as the chief executive officer of the New Jersey Broadcasters Association was to aid and assist the Partnership for a Drug-free New Jersey and its ongoing mission. Now, more than ever, the good work of the Partnership is essential to educate the public in combating the insidious scourge drug abuse is on our society and community. This work remains one of our most worthwhile endeavors and I’m so very proud of their initiatives. The Partnership’s vital objective is strengthened through relationships with all community organizations across the Garden State, like the NJBA, so as to continue to be successful. It’s a privilege to be associated with the partnership and its leadership!”
beginning Monday (4/15). Fifer says, “I’m super excited to be hosting ‘Wisconsin Sports Daily,’ and I can’t wait to talk about our favorite sports teams with our loyal listeners. The opportunity to host great guests to add to our conversations is a plus. Let’s bring some passion back into sports talk radio in Milwaukee!” Fifer serves as assistant program director and on-air host at 1250 AM The Fan. He also hosts a Milwaukee Bucks postgame show and numerous podcasts, including “Curd & Long,” “Green and Growing” and “Spare/Time Bowling Show.” He also helps run Audacy’s BetQL Network in other markets.
purpose is to ensure Cruz’s reelection. The amount donated would exceed the $5,000 ceiling on solicitation of funds for a super PAC. The Texas Tribune reports that the terms of iHeartMedia’s payments are unclear because the company’s agreement with Cruz for distributing his podcast is not public, hence the complaint seeking an investigation. However, the complaint asserts “the payments were improperly reported as ‘other receipts’ rather than campaign contributions. ‘Other receipts’ is generally reserved for interest or income on assets already owned by a PAC.” The complaint continues, “By soliciting or directing $630,850.08 of iHeartMedia’s corporate funds to or on behalf of TCP in connection with his 2024 election, Cruz appears to have brazenly violated these federal campaign finance laws.” 
president and CEO, “consistent with the terms approved by the company’s Compensation Committee and previously disclosed on a Current Report on Form 8-K filed October 3, 2022. The terms of the new employment agreements are effective as of January 1, 2022.” This contract – which runs through December of this year with automatic one-year renewals – provides Liggins with a base annual salary of $1.25 million. It also includes incentive compensation of up to 175% of base compensation.
Solutions and president of Strategic Sales Development at Interep. In her role as president-elect, she will continue to champion the mission of MIW, supporting and empowering women across all facets of the radio industry. She states, “I am deeply honored to serve as president of Mentoring and Inspiring Women. Nothing is more meaningful to me than helping women advance in their careers, especially at a time when women in various industries are finally having a well-deserved surge of recognition.” She will succeed current president Ruth Presslaff, who says, “Working with our extraordinary board to become a 501 (c)(3) and create new mentorships for programming, engineering, on-air and our Speak Up program, as well as multiple state association partnerships has been immensely rewarding. I know under Sheila’s incredible leadership, MIW will continue to soar and serve.”
media budget, adding AM/FM radio to a digital/TV plan sharply builds reach. Via Nielsen Commspoint, the media allocation planning tool, a wide range of monthly digital/TV media plans were examined. Very small, light, medium, and heavy campaigns were examined. The lightest digital/TV campaign reached 10% of the market. The heaviest reached 60%. Then a 20% allocation of AM/FM radio was introduced. The results were stunning. Across the seven monthly campaigns, from the lightest to the heaviest, the addition of AM/FM radio generated significant lifts in reach. Shifting 20% of the lightest TV/digital campaign to AM/FM radio caused reach to double. Introducing the 20% allocation of AM/FM radio to medium-sized campaigns causes reach to soar by 36% to 55%. Even the heaviest TV and digital campaign saw reach grow 20% with the addition of AM/FM radio to the plan.” 
the “show biz” side of his outgoing personality and large physical stature. Booked in a “Battle Royal” elimination match, “Handsome” David Gornoski snatched victory in the bout. Afterwards, Gornoski proceeded to announce his intentions to be a wrestling manager looking for the right client and serenaded the crowd with a rendition of Britney Spears’ “Oops I Did It Again.” Gornoski started his broadcasting career at iHeartRadio’s WFLA, Orlando and later, WHBO, Tampa before moving to podcasting. While he covers current events and culture, Gornoski has recently interviewed wrestling icons like Glenn “Kane” Jacobs, Mayor of Knox County, TN and fitness guru Diamond Dallas Page. Gornoski says he hopes to bridge the gap between the media world and the world of wrestling in a completely new way. He points to successful radio host and physician Doctor Asa (Asa Andrew, M.D.) whom he met at the TALKERS 2023 conference and is working with TNA Wrestling promotions as both a wrestler and ringside physician on Impact Wrestling as being a significant inspiration in his choice of this new path. 
follows last week’s repurchase of 1.5 million shares from MSG at $9.76 per share, the June 2023 repurchase of 1.5 million shares from MSG at $9.70 per share, and the March 2021 repurchase of 12.6 million shares and warrants from Oaktree Capital Management, L.P. at $6.40 per share. Like last week’s 1.5 million share repurchase from MSG, the purchase price of $10.8 million will be funded entirely with cash on hand. Townsquare CEO Bill Wilson comments, “We are very pleased to share that we were able to buy the IPO options at a net purchase price of $3.62 per option, eliminating the overhang and the shareholder dilution that would have occurred had these in-the-money options been exercised in the open market before they expired this July. The members of management and the board that were involved in this transaction have been with Townsquare for over a decade, demonstrating that our longterm incentive plan was, and continues to be, effective in retaining top talent. In total, our management team owns approximately 11% of shares outstanding today and are well aligned with the company’s investors to build shareholder value.”
in community involvement, along with multiple merit awards. The annual MAB Broadcast Excellence Awards gala was held on Saturday, April 6 at the Sound Board inside MotorCity Casino Hotel in Detroit. WJR program director Ann Thomas states, “Thank you to everyone associated with the Michigan Association of Broadcasters for this tremendous honor. As you can imagine… because WJR is more than a hundred years old, the archives in the Golden Tower of the Fisher Building are amazing. While doing some spring cleaning the other day, I came across boxes of awards and plaques from non-profit organizations applauding our work and ‘thank you’ notes from community leaders and listeners. It reminded me that all of us here in this room stand on the shoulders of the broadcasting greats who came before us. They set the bar for excellence, and I am grateful that in 2024, the talent, producers, engineers, production, digital, and sales teams at WJR are still working to be the best in the business.”