Tuesday, August 2, 2022
Townsquare Media Second Quarter Net Revenue Rises 13.6%. For the second quarter of 2022, Townsquare Media is reporting net revenue of $121.9 million, an increase of 13.6% over the same period in 2021. The company also reports net income of $4.9 million, a decrease of $5.2 million from Q2 of 2021. Townsquare’s financial data is broken in to three primary segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions
segment includes its subscription digital marketing solutions business, Townsquare Interactive. The Digital Advertising segment, marketed externally as Townsquare Ignite, includes digital advertising on the company’s owned and operated digital properties and its digital programmatic advertising platform. The Broadcast Advertising segment includes its local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast, and other miscellaneous revenue that is associated with the broadcast advertising platform. The Subscription Digital Marketing Solutions segment’s net revenue rose 13.7%, the Digital Advertising segment’s net revenue was up 25.4%, and the Broadcast Advertising segment’s net revenue rose 1.0%. Company CEO Bill Wilson 
states, “I am proud to share that the Townsquare team delivered another quarter of strong revenue and profit growth, and in doing so, we achieved all-time record highs for both net revenue and Adjusted EBITDA. Our performance clearly demonstrates the strength and differentiation of our digital businesses and our legacy broadcast business. Townsquare’s second quarter net revenue increased year-over-year by 14%, exceeding our guidance range, and Adjusted EBITDA increased 7% year-over-year, meeting our guidance range. In addition, our digital revenue growth accelerated from the first quarter (Q1 +16% year-over-year), with second quarter total digital revenue increasing 21% year-over-year. Our strong top-line growth, margin profile, and cash generation characteristics have contributed to the reduction of our net leverage, now at a historical low of 4.65x as of June 30th, including the repurchase and retirement of $19 million of our Senior Secured Notes at or below par in Q2. We are also pleased to announce that we are raising our FY 2022 guidance following the close of the Cherry Creek acquisition on June 17th. Our updated full-year guidance reflects the ongoing momentum of our business and the strength of our performance to date, fueled by our differentiated digital platform. As a Digital First Local Media Company focused principally on markets outside of the Top 50 in the United States, we have a resilient digital growth engine supported by subscription digital marketing solutions, with a large addressable market and limited competition. As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, reaching our digital revenue target of at least $275 million in 2024. With half of our total revenue and profit coming from digital today, it is our belief that over time as digital continues to meaningfully grow, Townsquare should and will be afforded a sum-of the-parts valuation that our digital assets deserve.”
70 Years of WGN-AM, Chicago Audio Archived at Northwestern University. As the result of a gift from WGN-AM, Chicago’s parent company Nexstar Media Group, a 70-year swath of the radio station’s audio archive now resides at Northwestern University Libraries in the Charles Deering McCormick Library of Special Collections and University Archives. The station says, “The archive, with materials covering 1941 to 2011, includes more than 15,000 items, primarily magnetic media (open reel tapes, compact cassettes, continuous-loop “carts,” U-matic videocassettes and VHS tapes)
as well as other media such as grooved discs, CDs and minidiscs. The bulk of the audio dates to the 1980s and 1990s, a period of innovation and surging popularity for the station.” Scott Krafft is curator of special collections at Northwestern and he says that the archive contains thousands of hours of audio that will need to be cataloged and, where necessary, digitally preserved before they can be made publicly available. He adds, “It’s a remarkable collection that represents a significant sampling of Chicago history, including local and national news. In addition, 
the voices of WGN Radio’s most popular programs are represented here, making this an important archive for the history of the entire field of radio broadcasting.” WGN Radio VP and general manager Mary Sandberg Boyle comments, “Given the long and storied connection between WGN Radio and Northwestern University, it is most fitting that this audio collection, drawn out of 70 years of our broadcast history, will be under their care. While digitizing it will be a substantial undertaking for the Northwestern Libraries, ultimately, this will be a permanent and invaluable repository and resource for years to come. We trust their expertise and are proud they are the caretakers in this endeavor.”
Triton Digital Streaming Ranker for June 2022 Released. The monthly ranking of the top-performing streaming audio stations has been released for the month of June by Triton Digital. The ranking is based on Average Active Sessions which is calculated by
dividing Total Listening Hours by the number of hours within the reported time period. In the period of 6AM-12AM Mon-Sun, iHeartRadio is far and away the #1 streamer again this month with 301,251 Average Active Sessions. Continuing in the #2 spot this month is NPR Member Stations (72,476 AAS), followed by Audacy at #3 (68,570 AAS), and Cumulus Streaming Network at #4 (41,562 AAS). Other streamers of note in the top 25 include Beasley Broadcasting Corporate at #7 (18,663 AAS), Hubbard Broadcasting at #8 (15,151 AAS), and Salem Communications at #11 (8,677 AAS). See the complete chart here.
TALKERS News Notes. Former WTMJ, Milwaukee air personality Jane Matenaer, who exited the station last month after six and a half years with the Good Karma Brands
news/talk outlet, is staying with the company as producer and news reporter for sister progressive talk WAUK-AM/W266DR, Waukesha “The ‘Sha 101 FM” on the “As Goes Wisconsin” early afternoon program hosted by Kristen 
Brey…..Cumulus Media appoints Derek Falter VP/market manager for its Grand Rapids and Muskegon, Michigan markets that include sports talk WJRW-AM, Grand Rapids “The Ticket” and seven music-formatted stations. Falter, who was most recently regional VP for Curtis Media Group, comments, “I’m beyond excited about the opportunity the leadership team at Cumulus Media is giving me to work alongside the dynamic crews in Grand Rapids and Muskegon! Thanks to Mary Berner and Bob Walker for bringing me back to a part of the country that is so meaningful to my family.”
Al-Zawahiri Killed, Pelosi’s Asia Trip, Biden’s Climate/Health Bill, Manchin-Schumer Bill, Midterms/2024 Presidential Race, The Economy, January 6 Sentencing, Deadly Kentucky Floods/Western Wildfires Among Top News/Talk Stories Yesterday (8/1). 9/11 orchestrator Ayman al-Zawahiri is killed in drone strike in Kabul; House Speaker Nancy Pelosi’s expected visit to Taiwan and China’s threatening response; the fate of Joe Biden’s climate and health bill; the Joe Manchin and Chuck Schumer-authored Inflation Reduction Act; November’s midterm elections and speculation about the nominees in the 2024 presidential race; the still-high price of gasoline and food and concerns about a recession; Guy Reffit is sentenced to seven years in prison for his part in the January 6 Capitol attack; the deadly Kentucky floods and threats of more rain to the region plus the ongoing wildfires in Northern California were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
WFAN And Yankees Extend Their Partnership. A multi-year extension is announced between Audacy New York sports talk WFAN-FM & WFAN-AM and MLB’s American League East New York Yankees. English-language broadcasts will continue to be heard on WFAN and streamed digitally on the Audacy app for those within the team’s 
broadcast territory. WFAN will also continue to produce the Spanish-language broadcasts for local radio affiliates, as well as for the Audacy app. Audacy New York market president Chris Oliviero declares, “The New York Yankees are the city’s premier sports franchise and WFAN is the city’s premier sports platform. Together, we form a potent combination for fans and client partners. [This – 2022] is our 21st consecutive season of broadcasting the ‘Bronx Bombers.’ We look forward to continuing to have the honor of being the soundtrack to more memorable and historic pinstripe moments.” New York Yankees chief operating officer Lonn Trost notes, “The Yankees are excited to extend our longstanding relationship with WFAN and Audacy. WFAN has been our flagship station for over two decades, and we look forward to fans continuing to enjoy Yankees baseball over its airways and on the Audacy app.” From 2002 to 2014, Yankees games were heard on WFAN’s sister station, all-news WCBS-AM (currently the flagship of the New York Mets); WFAN has served as the Yankees flagship since 2014. John Sterling, (class of 2022 Radio Hall of Fame inductee) Suzyn Waldman and Sweeny Murti are the English-language broadcasters, while Spanish-language broadcasts will be handled by Rickie Ricardo, Francisco Rivera and Rene Luna. As part of Audacy’s MLB partnership, WFAN and the Yankees will produce co-branded podcasts.
Newsmax, Verizon Sign Multi-Year Carriage Agreement. The deal between Newsmax and Verizon extends distribution of news channel in HD on Verizon Fios. Newsmax Media chief executive officer Christopher Ruddy remarks, “Verizon has carried Newsmax for many years. We are delighted to be extending our distribution through the Fios platform. We have found them to be outstanding partners who have demonstrated a strong commitment to the presentation of diverse, independent voices through their programming. We’re glad that we are continuing with this new agreement.” Newsmax will retain its broad distribution on the Verizon platform, which reaches approximately 3.5 million subscribers in the northeast and mid-Atlantic regions.
net income declined from $433 million to $292 million (11 to 7 cents/basic share, 10 to 7 cents/diluted share). Adjusted EBITDA was off 3% to $679 million. SiriusXM chief executive officer Jennifer Witz notes, “We are pleased with our results in the second quarter, and while we continue to navigate an uncertain economic environment, we delivered strong financial performance and continued to make strategic investments in our business that will set us up for an exciting new era. We remain committed to creating compelling experiences for our listeners by investing in innovative technologies to deliver best-in-class, curated, comprehensive audio entertainment. Most recently, [we expanded] our relationship with the NFL to deliver the most extensive sports lineup in audio entertainment; we will continue to enhance our platform to ensure broad appeal.” Executive vice president/chief financial officer Sean Sullivan adds, “[Our] churn was steady at approximately 1.5% in the quarter, underscoring the strength of our business, products, and loyalty of our customers. In the second quarter, we delivered focused expansion in key streaming offerings and maintained a strong balance sheet. This quarter, we returned over $300 million in capital to stockholders, comprising $217 million in common stock repurchases and $86 million in dividends, and ended the quarter with net debt to adjusted EBITDA of 3.6 times.” Self-pay subscribers increased by 23,000 and paid promotional subscribers increased by 54,000. Satellite and streaming division totaled 34 million subscribers at the end of the quarter; self-pay churn was flat at 1.5%. The division’s revenue rose 5% to $1.7 billion, and gross profit rose 6% to $1.1 billion.
Marketron Releases Political Advertising Toolbox. Per BIA Advisory Services, political advertising will raise $8.6 billion for local media companies. Marketron’s collection of online resources combines all the political advertising content the company has developed at a single location for companies interested in increasing their share of political advertising. Marketron senior vice president/client success Christian Kligora opines that, “Political advertising is an important category for local media. It’s much different than any other and that requires a unique approach. We’ve been developing content on the topic all year long with a focus on how to support media sellers. Bringing it together in one spot makes it easier to learn from and access.” Each resource will reportedly provide media salespeople with tips, strategies, and insights for political advertising. Included are specialized considerations such as the “overall trends in the advertising ecosystem; the need to reach different demographics; the objective of persuading people to vote; and the regulatory compliance requirements” for how media companies price/offer inventory to candidates.
Inquirer columnist Mike Sielski co-hosting weekend shows with Glenn Macnow. McDonald will partner with Macnow on Sundays (10:00 am – 1:00 pm), while Sielski joins Macnow in the same time slot each Saturday. According to Macnow, “I have a comfort level with Jody. He’s the guy I broke in with [and] the guy our listeners heard me with from 28 years ago. Working with Jody is like an old pair of shoes – it’s easy and I like it. The Saturday show will now be me and the best damn sports columnist in town, Mike Sielski.” … Former Baltimore Ravens defensive back Rod Woodson will join play-
by-play voice Gerry Sandusky this season on the NFL team’s broadcasts on Hearst Baltimore news/talk WBAL “News Radio 1090 AM & 101.5 FM.” According to Sandusky, “Rod brings the unique perspective of someone who has both played and coached at the highest level of the game. He does it in a down-to-earth way that is approachable, likable and just plain fun. It’s a privilege to work with a broadcast partner like Rod.” Woodson states that, “Being a part of the Ravens’ gameday broadcast team is a blessing. To be back with the team that I won my only Super Bowl with will be fun.” … After eleven years with Nashville’s WPRT-FM, midday co-host Darren McFarland departs the Cromwell Radio Group sports 
talk outlet. Program director Chase McCabe confirms to The Tennessean that “Sports Radio 102.5 The Game” decided to part ways with McFarland, who formerly worked at Cumulus Media’s cross-town/similarly-formatted WGFX “104.5 The Zone.” McCabe, Willy Daunic, and Derrick Mason continue in middays on “The Game.” … Effective August 22,
Cheddar News Washington bureau chief Megan Pratz will join NPR as political editor. In addition, NPR promotes congressional correspondent Sue Davis to political correspondent and interim congressional correspondent Dierdre Walsh gets to remove “interim” from the title. … Skyview Networks’ sports talk program “OutKick 360” picks up three Withers Broadcasting-owned affiliates: KYRK, Marble Hill, Missouri; WGKY, Wickliffe, Kentucky; and WFRX, West Frankfort, Illinois. Skyview Networks is the exclusive distributor, affiliate sales representative and network sales partner of Jonathan Hutton, Chad Withrow & Paul Kuharsky-hosted “OutKick 360.”
its original “Good Day” moniker, Doug Stephan will segue his program to the USA Radio Network. Officially re-launching next Monday (6/13), “Good Day” with Stephan and co-host Jai Kershner will merge with USA’s “Daybreak.” The show Stephan launched in 1988 will continue to air in the morning and remains designed to time-shift to other dayparts. Affiliation will be handled by USA Radio Network, with that web’s president Chip Miller stating, “I’m excited to welcome Doug and ‘Good Day’ to the USA Radio Network family. Doug is an iconic fixture in morning radio throughout the country and we look forward to working with [him] and the ‘Good Day’ team. The lifestyle, non-political content ‘Good Day’ offers is something we feel more stations will welcome during a time when there’s so much going on in the world and in our society. Doug and ‘Good Day’ will serve as the cornerstone for an exciting growth plan for the network. This is our first programming change and show addition since acquiring the network in December 2021.” Stephan comments, “We’ve been hearing from some of our more than 300 affiliates of their frustration with how negative many news/talk programs have become. This move enables us to continue to present the news you need to know, along with our opinions, in addition to the positives that we see every day.” There will be no change in the format clock; technical; traffic; or sales partners. Stephan is the longest running syndicated host of a daily talk show and appears at #29 on TALKERS’ 2022 “Heavy Hundred.”
Guthrie Named iHM Florida Division President. Former six-year Cox Media Group president/chief executive officer Kim Guthrie is set to become iHeartMedia’s Florida division president. In that position, she will succeed Linda Byrd, who retires next month (7/15). Guthrie will report directly to iHeartMedia Markets Group president Hartley Adkins, who states, “At iHeart, we pride ourselves on being a ‘talent first’ company; this decision reflects that commitment. It’s rewarding to find someone who both understands what our listeners need and how to operate in a multi-platform environment. Kim checks every box and more. We’re thrilled she chose to bring her talents to iHeart. Her CEO experience at Cox Media Group makes her uniquely-qualified for this position.” Guthrie adds, “I am very excited to announce my ‘un-retirement.’ iHeart has become a true employment destination and I’m thrilled to be part of America’s #1 audio company. iHeart’s leadership has built a culture of respect, transparency and innovation. The entire team has made me feel like I can make a difference here.” Guthrie joined Cox Media Group in 1998 as vice president/general manager for its Long Island radio station group and later became executive vice president of CMG’s national ad platforms. As Cox Media Group’s CEO, she had complete oversight of the company, including nearly 100 broadcast radio and television stations; dozens of digital assets; and newspapers. She started her career as a television news reporter and anchor for several ABC affiliates. Guthrie was named “Woman of Distinction” by the March of Dimes and “Humanitarian of the Year” by the Muscular Dystrophy Association. In addition, she won the “Trailblazer Award” from Mentoring And Inspiring Women In Radio and the “Women Who Lead” honor from the Alliance For Women In Media.
Radio Mercury Awards Winners Announced. The 31st annual such event was held last night (Thursday, 6/9) in-person at New York’s Sony Hall, as well as virtually. This year’s “Best of Show” award was presented to FCB Chicago for its “Go RVing” radio commercial. Other winners included: Mockingbird, iHeartRadio App, The Studio at iHeartMedia (“Creative Radio Promotional Spot or Campaign by a Radio Station or Group”); Great American Settlers, Spreaker.com, The Studio at iHeartMedia tied with Kiddie Pool, The Kartrite Resort and Indoor Water Park, The Studio at iHeartMedia (“Creative Radio Commercial by a Radio Station or Group”); Tick Suck, Steve’s Pest Control, Zimmer Radio & Marketing Group; Dog Years, Motel 6, Barkley (Creative Radio Commercial by an Agency, Production Company, Or Advertiser); and Moolah, Georgia Lottery, BBDO Atlanta. Radio Mercury Awards chief judge/Campbell Ewald executive creative director Ale Ortiz comments, “It’s been an honor to be at this year’s Radio Mercury Awards and to award the incredible lineup of winners. The final round jury and I were very impressed by the winners’ ability to not only entertain listeners, but tell stories through radio and audio.” According to Radio Advertising Bureau president and chief executive officer/Radio Creative Fund chair Erica Farber, “This year’s awards once again proved the power of sound and demonstrated the strength of radio and audio in conveying a brand’s message. This was an incredible night for radio. It was so great to celebrate with everyone both in person and online.” Presenters from this year’s final round jury and advisory council included: freelance creative consultant Larissa Kirschner-Chaney; Josh Grossberg (McCann Health); Nicky Lorenzo (Taylor Global); Ciro Sarmiento (Weber Shandwick); and Joyce King Thomas (King Thomas). Event sponsors of this year’s event were Audacy and iHeartMedia. Dedicated sponsors included CBS News Radio, Hubbard Broadcasting and World Wide Wadio. General sponsors were Beasley Media Group; Cumulus Media/Westwood One; Katz Media Group; Salem Media Group; Skyview Networks; Sound and Fury; and WideOrbit, along with Friends of the Mercuries sponsors Forcht Broadcasting; Neuhoff Media; Nielsen; Triton Digital; and vCreative. For the complete list of winners and to listen to their work, go to 
Radio Washington, DC’s all-news WTOP will raise awareness for the National Multiple Sclerosis Society. Announcements will highlight various MS events in the community in an effort to increase registrations – and ultimately – donations. WTOP general manager Joel Oxley states, “We wanted to do everything we could to help amplify the critical mission of the National Multiple Sclerosis Society. Our hope is that, through this partnership, we can help those in their journey with MS and work towards a world free of this devastating disease.” National MS Society Greater DC-Maryland Chapter president Chartese Berry remarks, “We are sincerely grateful [to] WTOP and their amazing partnership in joining our quest towards a world free of MS. Their strong reach in the region will help immensely in raising much needed awareness and funds to support the nearly one million people in the United States living with MS.” WTOP senior sports director Dave Johnson and WTOP anchor/reporter Mike Murillo were diagnosed with MS in 2019 and 2016, respectively. The two will contribute to the campaign by sharing their stories about how MS has effected them and their families. Johnson declares, “MS: Look out we are coming after you. We have the community and we have the support. My mom lost her battle to MS in 1979, and now with my WTOP family and the MS Society we are going to finish the fight.” Murillo adds, “I am so thankful to have benefited from new treatments for MS, but there is so much still to do including finding ways to repair the damage the disease can cause. With your help, I truly believe there will soon come a day when we can say there’s a cure for MS.” WTOP will highlight volunteer opportunities throughout the year.
Multicultural Broadcasting-owned KBLA “Talk 1580,” Los Angeles’ “A More Perfect Union.” The HUD secretary and KBLA’s chief national political analyst, Dr. Nii-Quartelai Quartey, discussed the city’s homelessness problem; the need for affordable housing; and creative ways for first-time buyers to purchase a home and down payment assistance. Fudge commented that HUD is committed to equity by eliminating redlining of “certain kinds of neighborhoods.” … Effective next 
Monday (6/13), Randy Cable commences as director of sales for Beasley Media Group’s Fort Myers/Naples cluster, which includes sports talk WBCN “ESPN Southwest Florida.” Vice president/market manager AJ Lurie comments, “The more people I asked about Randy, the more excited I got about having him on our team. I think he will be a perfect complement to our brands, products, and family here in Southwest Florida.” Spring Valley, New York native Cable notes, “I am thrilled to join the Beasley family and look forward to working with the incredible team in Fort Myers. I am passionate about helping our team help local businesses thrive and prosper with great ideas and our ability to develop/execute powerful fully-integrated radio and digital campaigns.” Cable formerly was integrated sales manager for Cox Media Group’s Miami and Jacksonville stations, and spent eleven years as director of sales for Audacy Greenville (South Carolina) … The Chesapeake Associated Press Broadcasters
Association (CAPBA) recognizes Your Public Radio-owned public radio news/talk WYPR, Baltimore with five (5) first-place awards and seven (7) second-place awards for work done in 2021. Its first-place citations are in “Outstanding News Series”; “Outstanding Public Affairs”; “Outstanding Specialty Reporting”; “Outstanding Documentary/In-Depth Reporting”; and “Outstanding Serious Feature.” The CAPBA awards ceremony was held last Saturday (6/4) in Ocean City, Maryland. … In addition to hosting afternoon drive on iHeartMedia Des Moines news/talk WHO “News Radio 1040,” Simon Conway has been doing morning drive on similarly-formatted Orlando sibling WFLA “News Radio” and today adds a national assignment, filling in for Joe Pagliarulo. Conway’s PM drive program is simulcast on iHM’s WMT-AM “News Radio AM 600,” Cedar Rapids and WOC “News Talk 1420,” Davenport (Iowa). … Among the Delta Radio Greenville, Mississippi properties McConnell “Man@Large Adams will oversee as the newly-appointed operations director is WNIX “News Talk.” Adams most recently was director of content for Townsquare Media Lansing (Michigan).
publication’s biggest day on the calendar. We’re right back at it again though next week, as TALKERS vice president/executive editor Kevin Casey leads team coverage of TALKERS 2022 highlights; in addition, we will post regular Monday morning memos from Holland Cooke and Steve Lapa. Later in the week, editor/publisher Michael Harrison reveals his latest guest on “The Michael Harrison Podcast,” while managing editor Mike Kinosian begins his four-part series on “Takeaways” from Nielsen Audio’s May 2022 survey period.
