Industry News

FCC Chairman Carr Promotes Build Agenda in Sioux Falls

FCC Chairman Brendan Carr was in Sioux Falls, South Dakota yesterday (7/2) to promote the FCC’s “Build America Agenda.” Carr said, “Our ‘Build America Agenda’ will focus on delivering on a number of core objectives. We will unleash high-speed infrastructure builds. We will restore America’s leadership in wireless. We will boost the U.S. space economy. We will advance our national security. And we willimg strengthen America’s tower and telecom workforce.  We will deliver on all of this by implementing smart policies while carrying out a massive and comprehensive deregulatory agenda. As we do so, we will be guided at the agency by a few simple ideas. For one, we will keep the Gretzky test front and center. We want to keep our eye on where the proverbial puck is going, not where it has been. For another, we are going to take a first principles approach. Just because a regulation has been on the books for 30 years, we are not going to keep it there simply out of a sense of inertia. For still another, we will focus on competition as it exists today. The old regulatory silos have been breaking down for quite some time, so the agency must move forward with a keen understanding of today’s converged markets.  We are going to focus on outcomes, rather than process to nowhere. We are going to have a bias towards action. After all, delay has an unappreciated economic and social cost. We are going to push for simple, clear rules, rather than complex and bespoke frameworks. And we are going to support U.S. businesses and domestic onshoring.”

Industry News

FCC Chairman Carr Touts Cost Savings

FCC Chairman Brendan Carr says his top-to-bottom review of agency contracts is expected to save taxpayers hundreds of millions of dollars. Carr states, “On my watch, the FCC is focused on deliveringimg great results for the country and doing so in an efficient manner.  That starts with being good stewards of taxpayer dollars. From day one, we have been combing through every FCC contract to eliminate redundancies and wasteful spending. No stone is being left unturned.  To date, we have reduced more than $567 million in authorized contract spending, including by ending bloated or unnecessary IT contracts.  This is an important step towards ensuring long-term efficiency and maintaining our focus on the FCC’s core responsibilities.”

Industry News

FCC Chairman Brendan Carr Comments on Swatting

In response to the recent swatting attack on nationally syndicated talk radio host Joe “Pags” Pagliaruloimg in Texas and several other conservative talk personalities, Federal Communications Commission Chairman Brendan Carr posted the following to his X account, “The recent surge in ‘swatting’ attacks against conservatives is a dangerous form of political violence. I’ve been in touch with law enforcement to ensure they have access to the trace back resources that locate a call’s originating point. Bad actors will face accountability.” So far, no one has been hurt in these swatting incidents. If you missed Joe Pags’ account of what happened to him, read TALKERS’ account here.

Industry News

Brendan Carr Named Chairman of the FCC

As expected, newly inaugurated President Donald J. Trump names FCC Commissioner Brendan Carr Chairman of the Federal Communications Commission.  Carr says, “I am deeply grateful to President Trump and honored by his decision to designate me as Chairman of the Federal Communications Commission. Iimg have had the privilege of working at the FCC for over a dozen years now, including serving previously as the agency’s General Counsel, and I am humbled by the opportunity to lead the FCC. The FCC has important work ahead – on issues ranging from tech and media regulation to unleashing new opportunities for jobs and growth through agency actions on spectrum, infrastructure, and the space economy. We will also advance America’s national security interests and protect consumers. I am eager to accelerate the FCC’s work on these and other fronts. I look forward to collaborating with the Trump Administration, my Commission colleagues, and the FCC’s talented staff as well as Congress to deliver great results for the American people.”

Industry News

TALKERS News Notes

UK radio and outdoor firm Global inks an exclusive platform distribution and ad sales deal with iHeartMedia in which Global and iHeartMedia will license, distribute and represent each other’s podcast portfolios.

The Philadelphia Eagles and Audacy announce a multi-year extension to their 30-year partnership through the 2028 NFL season. As part of the new agreement, “SportsRadio 94WIP” will continue to serve as the team’s official flagship radio partner. The broadcast team is led by Eagles Hall of Famers Merrill Reese and Mike Quick in the radio booth and longtime 94WIP personality Howard Eskin on the sideline.

iHeartMedia chairman and CEO Bob Pittman & president COO/CFO Rich Bressler will participate in a question and answer session during the Wells Fargo TMT Summit on November 29 at 3:45 pm ET. A live webcast of the session will be available to the general public at the start of the session through a link on the Investors homepage of iHeartMedia’s website.

PodcastOne acquires the exclusive sales and distribution rights, as well as certain ownership and IP/derivative rights, to true crime podcast, “Lost In Panama.” PodcastOne president and co-founder Kit Gray comments, “We continue our stated strategy of rolling up the fragmented podcast industry to deliver the best podcast library with the lowest cost per acquisition. We are excited and look forward to more announcements in the near future.”

Industry News

LiveOne Reports Operating Results; Files to Spin-Out PodcastOne

LiveOne – parent company of audio services PodcastOne and Slacker – reports operating results for its third quarter of Fiscal 2023 and the first nine months of Fiscal 2023. At the same time, it announces that it is following through with its plan to spin-out PodcastOne into a separate company by filing an S-1 with the Securities Exchange Commission. For the company as a whole, LiveOne reports Q3 Fiscal 2023 revenue of $27.3 million – a decrease of 17% from the same period in Fiscal 2022. However, the company has reduced its net loss for the quarter from $11.8 million in Fiscal 2022 to $3.2 million. Its Audio Division that includes PodcastOne and Slacker produced record revenue of $22 million in Q3 Fiscal 2023 compared to $19.1 million in the same period in the prior year. LiveOne’s CEO and chairman Robert Ellin comments, “Over the past year, we have been laser focused on optimizing and streamlining our operations, led by our audio business, which includes Slacker Radio and PodcastOne. The combination of improving Contribution Margins, coupled with over $30 million in annual expense and overhead reduction, is resulting in record operating results. We are excited about the continued strong growth of paid memberships coming largely through B-to-B partnerships, including our nine-year relationship with Tesla. We expect our strong operating performance to continue for the foreseeable future led by our Audio Division and for it to collectively achieve revenue in excess of $88 million in Fiscal 2023 and generate more than $18 million in Adjusted EBITDA.”