Industry News

Edison Research Releases Top 50 Podcasts for Q1 2024

Edison Research’s ranking of the Top 50 Podcasts in the U.S. for the first quarter of 2024 (derived from data collected continuously during the first quarter of 2024, interviewing 5,300 weekly podcastim consumers ages 13 and older in the U.S.) and the top three remain unchanged with “The Joe Rogan Experience” at #1, “Crime Junkie” at #2, and “The Daily” at #3. The Taylor Swift effect helped propel “New Heights with Jason and Travis Kelce” to the #4 position. Other podcasts of interest to the news/talk media industry include “The Ben Shapiro Show” at #13, “The Ramsey Show” at #16, “The Tucker Carlson Podcast” debuts at #24, and “The Dan Bongino Show” is at #27.

Industry News

Audacy First Quarter Net Revenue Rises 1%

Audacy reports Q1 2024 net revenue of $261.8 million, an increase of 1% over the first quarter of 2023. The company reports a net loss of $1.85 million, a marked decline from the net loss of $35.9 million it reported in Q1 of 2023. While local and national spot revenue fell 3.5% to $153.5 million, digital revenue was up 10.2% to $62.7 million and network revenue rose 10.4% to $21.9 million. Audacy also reportsim revenue for its stations by general format and the company’s sports revenue was $56.6 million – an increase of 6.5% – while its news/talk revenue fell 5.5% to $40 million. Audacy chairman, president and CEO David J. Field comments, “Audacy delivered a solid start to 2024 with Q1 EBITDA increasing 173% vs the prior year. Second-quarter revenues are currently pacing up low-single imdigits, and we expect another quarter of substantial EBITDA growth, enhanced by our continuing work on expense reductions. Our improving results are predominantly attributable to a significant acceleration in digital revenue growth, continuing meaningful revenue share gains, and declining expenses as our transformational investments bear fruit. As previously announced, we received court approval of our consensual pre-packaged Plan of Reorganization, which will reduce our debt by 80%, and are now awaiting FCC approval to complete the process. I want to salute our team for their excellent work in driving financial and operating progress while simultaneously executing our reorganization plan, all without disruption to customers, listeners, partners, vendors or our staff.

Industry News

Salem Media Group Q1 2024 Revenue Down 8.3%

The first quarter of 2024 brought in net revenue of $58.6 million, a decline of 8.3% from the same period in 2023 for Salem Media Group. The company’s broadcast revenue fell 4.6% to $46 million, while its digital media revenue rose 1.9% to $10.7 million. The company reports a net loss of $5.1 million, basically the same as it reported in Q1 of 2023. Regarding its revenue,im Salem states, “Revenue growth from the sale of broadcast airtime is negatively impacted by audiences spending less time commuting, certain automobile manufacturers removing AM radio signals, increases in other forms of content distribution, and decreases in the length of time spent listening to broadcast radio as compared to audio streaming services, podcasts, and satellite radio. These factors may lead advertisers to conclude that the effectiveness of radio has diminished. We continue to enhance our digital assets to complement our broadcast content. The increased use of smart speakers and other voice activated platforms that provide audiences with the ability to access AM and FM radio stations offers potential sources for radio broadcasters to reach audiences. Our broadcast advertising revenue is particularly dependent on advertising from our Los Angeles and Dallas markets, which generated 15.3% and 18.4%, respectively, of our total net broadcast advertising revenue during the three-month period ended March 31, 2023, compared to 15.1% and 18.7%, respectively, of our total net broadcast advertising revenue during the three- month period ended March 31, 2024.”

Industry News

iHeartMedia First Quarter Revenue Dips 1.5%

iHeartMedia reports that its revenue for the first quarter of 2024 was $799 million, a decline of 1.5% from the same period in 2023, and in line with the company’s guidance. The company posts a net loss of $18.1 million, a dramatic reduction from the $222 million loss it reported in Q1 of 2023. The company’s Broadcast Radio segment revenue was $359.3 million, a decline of 6.2% from Q1 2023 and networksim revenue was $102 million, down 5.5% from the same period a year ago. The company’s Digital Audio Group revenue was $239 million, up 7% over Q1 2023. Breaking that segment down, Digital (excluding Podcast) revenue was $148.3 million (up 1.2%), and Podcast revenue was $90.6 million (up 18%). iHeartMedia chairman and CEO Bob Pittman says, “We’re pleased to report our first quarter of year-over-year Adjusted EBITDA growth in five quarters, driven by the substantial sequential year-over-year improvement in the performance of all our segments: the Multiplatform Group, the Digital Audio Group, and the Audio and Media Services Group – with the Digital Audio Group hitting its best Q1 EBITDA margin ever. Additionally, our Q1 results were in line with our previously provided Adjusted EBITDA and Revenue guidance ranges. Although the marketplace continues to be dynamic, we continue to see meaningful opportunities for growth in our businesses and we remain confident in 2024 as a recovery year.”

Industry News

Saga Communications’ Q1 Revenue Falls 2.5%

First quarter 2024 operating results for Saga Communications reveal net revenue of $24.7 million, a decline of 2.5% from the first quarter of 2023. The company reports a net loss of $1.6 million during theim first quarter compared to the net income of $920,000 it reported in Q1 of 2023. Saga adds that its balance sheet reflects $28.8 million in cash and short-term investments as of March 31, 2024 and $23.7 million as of May 6, 2024. The company expects to spend approximately $5.0 – $5.5 million for capital expenditures during 2024.

Industry News

Beasley Broadcast Group Reports Q1 Net Revenue Down 5.9%

The company says that net revenue for the first quarter of 2024 was $54.4 million, a decline of 5.9% from the same period in 2023, saying this was “primarily reflecting a year-over-year decline in audio advertising and other revenue due to Beasley’s Wilmington station and esports divestitures as well as ongoing softness in the commercial advertising business, partially offset by growth in digital and political advertising revenue.” Beasley reports net income of approximately $8,000 in Q1, compared to a net lossim of $3.5 million for the same period in 2023, “primarily due to the $6 million gain on the sale of an investment in BMI holdings and lower interest expense.” Company CEO Caroline Beasley states, “Beasley continues to advance our core initiatives, which are focused on driving revenue and cash flow, including our digital transformation, revenue diversification and expense management initiatives. We expect digital to account for between 20% and 25% of total revenue in 2024, driven by the ongoing growth and success of our premium content creation and digital services. On the new business front, our dedicated sales teams are leveraging the tremendous audience reach and engagement of our platform to attract new advertisers. In summary, Beasley’s underlying fundamentals – mainly, our local audio and digital platforms and audience engagement – remain strong. We are proud of our teams’ steadfast commitment to delivering exceptional content and services to our listeners, advertisers, online users and sports fans, and remain confident that the actions we are taking to transform our company and strengthen our balance sheet, are laying the foundation for future growth and success.”

Industry News

Cumulus Reports Q1 Net Revenue Declines 2.7%

The company reports net revenue of $200.1 million in the first quarter of 2024, a decrease of 2.7% from the same period in 2023. Cumulus CEO Mary Berner states, “While our Q1 revenue was in line with guidance and a marked improvement from 2023 trends, it is also reflective of the uncertainty thatim continues to weigh on advertisers. With the advertising environment still unsettled, these new terms (spelled out in the preceding story) provide us additional time and flexibility to execute against our key business priorities – accelerating digital growth, reducing fixed costs, and continuing to de-lever our balance sheet – each of which is foundational to our ability to build long-term shareholder value.” The company took a net loss of $14.2 million in Q1, but it was far less than the net loss of $21.5 million it reported in Q1 of 2023. Cumulus breaks out its revenue in segments and the total broadcast revenue for Q1 of 2024 was $139.7 million, down 5.6% from Q1 of 2023. Spot revenue was $90.5 million (down 7.3%) and network revenue was $49.2 million (down 2.3%). The company’s digital segment reports revenue of $34.5 million, up 7.3% over the first quarter of 2023.

Industry News

Cumulus Issues Preliminary Q1 Operating Results

Cumulus Media releases preliminary operating results for the first quarter of 2024 (January 1 – Marchim 31). The company says it expects to report net revenue in a range of $199 million to $201 million – change of between 3.3% and 2.3%. It also expects to report a net loss in a range of $(14.9) million to $(13.4) million and Adjusted EBITDA in a range of $7.65 million to $9.15 million. The company will report its actual first quarter 2024 operating results on Friday, May 3.  

Industry News

Urban One Files Preliminary Q1 2023 Financial Results with SEC

Relative to the preceding story, on Friday (9/29) Urban One filed an 8-K Form containing its preliminary financial results for the first quarter of 2023. The company reports consolidated revenue of $109.9 million, a decrease of 2% from the same period in 2022. Urban One breaks down its report into segments and states that its broadcast radio division brought in revenue of $35.2 million, an increase of 11.7% over the same period in 2022. For the first quarter of 2023, Urban One reports a net loss of $1.5 million compared to the net income of $16.5 million it reported in the first quarter of 2022.

Industry News

Urban One Unable to File First Quarter Operating Results

Urban One files a notification of late filing with the Securities Exchange Commission explaining the reason it has not filed its 2022 year-end 10-K (and other forms), as well as its first quarter 2023 10-K. The company says, “On April 7, 2023, Urban One, Inc. (the “Company”) announced that in connection with the preparation of its financial statements for the year ended December 31, 2022, the Company’s management, in consultationim with its independent registered public accounting firm, re-evaluated the Company’s accounting for the valuation of its investment interest in MGM National Harbor (the “MGM Interest”), which the Company sold for cash proceeds of approximately $136.8 million on April 21, 2023. After further review of the Company’s accounting for its MGM Interest, it was determined that adjustments are required to the Company’s financial statements as of January 1, 2021 and for each of the annual and interim periods ended December 31, 2021 and September 30, 2022 (the “Affected Periods”), due to understatements in the value of the MGM Interest… The Company’s management concluded that in light of the error described above, a material weakness exists in the Company’s internal control over financial reporting for the Affected Periods. The Company’s remediation plan with respect to such material weakness will be described in more detail in the 2022 Form 10-K. Due to the Company’s continued efforts in connection with the Restatement, preparation of the 2022 Form10-K and continued assessment of its internal controls, the Company is not able to finalize the financial statements and related information for inclusion in its quarterly report on Form 10-Q for the quarter ended March 31, 2023 (“2023 Q1 Form 10-Q”). Accordingly, the Company is unable to file its 2023 Q1 Form 10-Q within the prescribed time period.”

Industry News

Audacy First Quarter Revenue Falls 5.7%

The company reports net revenue for the first quarter of 2023 was $259.6 million, a decrease of 5.7% over Q1 of 2022. Audacy reports that total operating expenses increased 1.9% and it is reporting an operating loss of $12.2 million compared to the operating income of $8.5 million it reported in the first quarter of 2022. Theim company posts a Q1 2023 net loss of $35.9 million, an increase of 225% compared to Q1 of 2022. Audacy chairman, president and CEO David J. Field states, “First quarter revenues were down 5.7% with local sales significantly outperforming national as challenging ad market conditions persisted. Cash operating expenses were up 3% during the quarter but are expected to be below prior-year levels for the remainder of 2023. Notwithstanding the difficult economic headwinds, we remain steadfastly focused on delivering significantly higher future levels of Adjusted EBITDA, capitalizing on our multiple growth drivers and our differentiated premium competitive position in the dynamic audio market. We are making progress on each of our drivers, including our podcasting and digital marketing solutions businesses, our reinvented streaming audio platform, our emerging ad tech and ad products, and our enhanced national enterprise business development efforts. In addition, we are encouraged to see some positive signs in our auto business as we continue our vigorous work to weather the storm and await future improvements in market conditions.”

Industry News

Townsquare Media Q1 Revenue Rises 3%

Releasing its operating results for the first quarter of 2023, Townsquare Media reports net revenue of $103 million, an increase of 3% over the same period in 2022. The company reports in three segments – Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The company says Digital Advertising revenue was $33.7 million (an increase of 15.4% over the same period in 2022), whileim Broadcast Advertising revenue was $45.9 million (down 4.8% over Q1 of 2022), and Subscription Digital Marketing Solutions revenue was $21.5 million (down 1.3% over Q1 of 2022). Townsquare Media CEO Bill Wilson says, “I am pleased to share that Townsquare’s first quarter results exceeded our previously issued guidance for both net revenue and Adjusted EBITDA, due primarily to the continued strength of our digital and local advertising platform and solutions… In the first quarter, we grew cash flow from operations to $9 million, due to the strong cash generation of many of our assets, and opportunistically repurchased more than $12 million of our Unsecured Senior Notes at a discount. We ended the quarter with a strong cash balance of $42 million and maintained our all-time low net leverage multiple of 4.29x. Our growth engine has been and will continue to be our digital solutions. We believe that our Digital First business model and strategy position us to navigate the current macro-economic environment better than most, and that our revenue, profit and cash flow results will be among the best in the local media industry, particularly when compared to 2019 pre-COVID financials given our growth in revenue and profit since 2019. Our confidence is directly tied to the Townsquare team’s efforts and talent, as well as our large, growing, and profitable digital platform which contributes more than half of Townsquare’s total net revenue and profit.”

Industry News

Salem Media Group First Quarter Revenue Up 1.4%

Salem Media Group reports its operating results for the first quarter of 2023 and reveals consolidated revenue was $63.5 million, an increase of 1.4% over the first quarter of 2022. The company’s total operating expensesim increased 17.4% to $67.7 million leading to an operating loss of $4.2 million as compared to operating income of $5 million posted in Q1 of 2022. Salem reports a net loss of $5.2 million, compared to Q1 2022’s net income of $1.7 million. Salem reports in three segments – Broadcast, Digital Media, and Publishing. Broadcast revenue for the quarter was $48.3 million (down 0.2%), Digital Media was $10.5 million (up 2%), and Publishing revenue was $4.6 million (up 19.7%). Looking ahead, the company is projecting total revenue to decline between 5% and 7% from the second quarter 2022 total revenue of $68.7 million and expects operating expenses to increase between 3% and 6% compared to Q2 of 2022.

Industry Views

Saga Communications Q1 Net Revenue Rises 1.3%

First quarter 2023 operating results for Saga Communications reveal net revenue of $25.3 million, an increase of 1.3% over the same period in 2022. Net income fell from $1.2 million in Q1 of 2022 to $920,000 in the first quarter of this year. The company says, “Station operating expense increased $1.1 million for theim quarter to $21.7 million compared to the same period last year. A significant part of the increase in station operating expense for the quarter was due to a $272 thousand increase in our self-insured health care costs and a $446 thousand increase in employee compensation, including payroll taxes at the station level. After a number of years of holding the company’s compensation expenses flat, we decided that adjustments in our employee compensation were warranted in consideration of the economic times and inflationary environment.”

Industry News

iHeartMedia First Quarter Revenue Declines 3.8%

iHeartMedia Inc reports its operating results for the first quarter of 2023 and revenue for the period was $811.2 million, a decline of 3.8% over the same period in 2022. After reporting operating income of $12.3 million in Q1 of 2022, the company posts an operating loss of $48.8 million. Also, iHeartMedia’s net loss increased from $48.7 million in the first quarter of 2022 to $222.4 million in Q1 of this year. The company’s Digital Audio Groupim segment’s total revenue was $223.4 million, up 4% over the same period in 2022. The company’s Multiplatform Group reports total revenue of $529 million (a decline of 7%) and that segment breaks down as follows: Broadcast Radio revenue was $383.2 million (down 7.7% from Q1 2022) and Networks reports revenue of $107.9 million (down 8.2% from Q1 of 2022).  Chairman and CEO Bob Pittman comments, “We are pleased to report that our first quarter 2023 results were a bit above the high end of our Adjusted EBITDA and Revenue guidance ranges – and that more importantly, while both the macroeconomic climate and the advertising marketplace remain uncertain, the audio and digital advertising markets appeared to be stronger in the quarter than we had initially anticipated. We expect that our second quarter Adjusted EBITDA, while below 2022 levels, will be approximately double what we generated in the first quarter, and this, in combination with our Q1 first quarter performance relative to guidance, gives us confidence that our Adjusted EBITDA results will continue to improve throughout 2023, and that we will be well positioned to build further in 2024 in terms of revenue growth, profitability, and Free Cash Flow generation.”

Industry News

Cumulus Media Q1 Net Revenue Down 11%

Cumulus Media’s net revenue for the first quarter of 2023 was $205.6 million, a decline of 11% over the same period in 2022. The company’s net loss ballooned to $21.4 million from the net loss of $905,000 it reported in Q1 of 2022. Breaking down Cumulus’ revenue by segment, total broadcast revenue was $148 million – down 12.5% year-over-year – led by network revenue (-22.9%), and followed by spot revenue (down 6%). Digital revenue was $32 million, up just 0.6% over the first quarter of 2022. Cumulus Media president and CEO Mary G. Berner comments, “Extending our track record of strong operational and financial execution duringim challenging times, in the first quarter, we grew our digital marketing services revenue by more than 23%, completed the sale of WFAS-FM, continued to repurchase shares and retire debt at a discount, and have now executed $10 million of additional annualized cost reductions. That said, the impact of the considerable macro-driven weakness in the national advertising market, as well as the unfavorable prior year political and WynnBET comparisons, ultimately resulted in total revenue and Adjusted EBITDA declines. Though the difficult national market trends persist, we have confidence in our ability to successfully navigate adverse environments such as this one. Specifically, since 2019 through the COVID-impacted years, we have had best-in-class performance in terms of fixed cost reduction, Adjusted EBITDA margin recovery, Adjusted EBITDA to free cash flow conversion and net debt reduction. With our current liquidity profile and solid balance sheet, we believe that we are not only well-positioned to weather the current storm but will rebound strongly when the market eventually recovers.”

Industry News

Beasley’s 2023 First Quarter Net Revenue Rises 3.7%

Reporting its operating results for the first quarter of 2023, Beasley Broadcast Group (parent of Beasley Media Group) announces net revenue of $57.8 million, an increase of 3.7% over the same period in 2022 that the company says reflects “a year-over-year increase in digital revenue, local spot revenue and network revenue, partially offset by a decrease in national spot revenue, related to continued softness in the national agency business.” Beasley reports operating income of $400,000 in Q1 of 2023, compared to the operating loss of $2.7 million reported in Q1 of 2022. The company also reports a reduced net loss of $3.5 millionim compared to the net loss of $3.7 million in Q1 of 2022. Beasley CEO Caroline Beasley states, “Beasley’s strong first quarter financial operating results highlight our continued local audio leadership and the ongoing success of our digital transformation and revenue diversification initiatives which are driving top-line and SOI (station operating income) growth. Despite ongoing challenges related to the economy and softness in the national spot market, Beasley generated healthy growth across its digital, local audio, and network revenue sources, as reflected by the 3.7% increase in first quarter net revenues to $57.8 million. Top-imline growth was the primary factor contributing to an impressive 21% year-over-year increase in SOI to $7.1 million. Our digital strategy delivered first quarter digital revenue growth of 27.8% year-over-year and accounted for 17.3% of total first quarter revenue. Similar to recent quarters, strong digital revenue performance was driven by Beasley’s organic content creation initiatives and the roll-out of our tailored web services. Beasley continues to see accelerating demand from consumers for our innovative digital content, with our unique digital users more than doubling over the prior year quarter, resulting in a more than 90% year-over-year increase in sellable digital impressions. We believe we remain on path for this revenue source to reach 20% of total revenue by 2023 year-end.” Total outstanding debt as of March 31, 2023 was $290 million, and first quarter interest expense slightly declined to $6.6 million. Beasley had $35.9 million of cash and cash equivalents on hand at quarter end. We intend to keep our cash on the balance sheet in order to maintain our strong liquidity position, while we monitor the economic environment.”

Industry News

TALKERS News Notes

Audacy announces it will report its 2023 first quarter financial results before the market opens on Wednesday, May 10. The company will host a conference call and simultaneous webcast at 10:00 am ET that morning to review the results and recent progress against its strategic initiatives.

Hillsdale College announces the launch of the new podcast, “The Larry P. Arnn Show,” hosted by college president Larry Arnn who interviews distinguished guests to Hillsdale’s campus. It’s one of the school’s programs on its new integrated Hillsdale College Podcast Network that also features “The Radio Free Hillsdale Hour,” “The Hillsdale Dialogues,” and “The Hillsdale College K-12 Classical Education Podcast.” The show’s first guest is Florida Governor Ron DeSantis, who visited Hillsdale’s campus on April 6.

PodcastOne launches the new podcast “Turtle Time with Ramona and Avery” starring reality television’s Ramona Singer and her daughter, Avery. PodcastOne president Kit Gray states, “We are thrilled to welcome Ramona and Avery to PodcastOne. Their mother-daughter relationship is enviable, and audiences will be wowed by their podcast. ‘Turtle Time’ is perfect for our platform, our audiences and our advertisers, all of whom have made it clear that this is the sort of content that they are looking for in podcasting.”

Audacy is gearing up for the 2023 NFL Draft with tomorrow evening’s “Audacy Draft Show” starring NFL Insiders Brian Baldinger and Jason LaCanfora, and produced by 2400Sports. Additionally, more than 12 of Audacy’s owned sports talk stations will have their own live and local draft shows, breaking down the first round for fans in several markets including Baltimore (WJZ-FM), Boston (WEEI-AM/FM), Buffalo (WGR-AM), Chicago (WSCR-AM), Cleveland (WKRK-FM), Dallas (KRLD-FM), Detroit (WXYT-AM), Houston (KILT-AM), Kansas City (KCSP-AM), New Orleans (WWL-AM/FM), Philadelphia (WIP-FM), Pittsburgh (KDKA-FM), and Washington DC (WTEM-AM), with many of those shows being available live in the Audacy app.

Industry News

TALKERS News Notes

Townsquare Media, Inc announces that it will release first quarter 2023 financial results before the market opens on Wednesday, May 10. The company will host a conference call to discuss certain first quarter 2023 financial results that same day at 8:00 am Eastern Time.

SiriusXM announces its coverage of the 2023 NFL Draft, which will feature live announcements of every selection from every round and in-depth analysis on the SiriusXM NFL Radio channel. The broadcast team will be anchored by Jason Horowitz. SiriusXM’s expert analysts all three days will be former NFL scout, coach and front-office executive Pat Kirwan, former NFL quarterback Jim Miller and former coach Rick Neuheisel.

Industry News

TALKERS News Notes

Beasley Media Group chief technology officer Mike Cooney received the 2023 NAB Radio Engineering Achievement Award on stage during the “We Are Broadcasters” session on Tuesday, April 18 at the Las Vegas Convention Center. Established in 1959, the Radio and Television Engineering Achievement Awards are given to individuals who are nominated by their peers for significant contributions to advancing broadcast engineering.

iHeartMedia, Inc will issue financial results for the first quarter of 2023 on Tuesday, May 2. The company will conduct a conference call at 8:30 am ET, following the release of its earnings announcement to discuss its financial results and business outlook. A live audio webcast of the call will be available on the Investors homepage of iHeartMedia’s website.

Beasley Broadcast Group, Inc will report its 2023 first quarter financial results before the market opens on Wednesday, April 26. The company will host a conference call and webcast at 11:00 am ET that morning to review the results.

Industry News

TALKERS News Notes

Cumulus Media announces that it will host a conference call on Thursday, April 27 at 8:30 am ET to discuss its first quarter 2023 operating results. A press release containing a summary of these results will be issued before the call at approximately 8:00 am ET.

PodcastOne announces that it has acquired the network distribution and advertising sales rights to the podcasts, “I’ve Had It” hosted by Jennifer Welch and Angie “Pumps” Sullivan, as well as “Causing a Scene with Sara and Natalie” hosted by Sara Gretzky and Natalie Buck.

Industry News

TALKERS News Notes

Saga Communications announces that it will release its First Quarter 2023 operating results at 9:00 am ET on Wednesday, May 3, 2023. The company will hold a conference call on the same date at 11:00 am ET.

Last Saturday (4/1) the ParaPod Awards were handed out at the Hyatt Regency Valencia as part of the two-day ParaPod Festival. The awards recognize the influencers and content creators working in the paranormal genre. ParaPod founder Tony Sweet says, “The mainstream awards seem to skip over paranormal content. However, it takes no less time, skill, and talent to cover our genre than it does any other. So, why not create an awards platform to celebrate these brilliant individuals?” Actress and podcaster Jillian Clare (“Days of Our Lives,” “Alien Abduction”) was on hand to present the podcast and documentary category awards.

Industry News

Salem Q4 2022 Revenue Falls 0.5%; Full Year Revenue Up 3.4%

Salem Media Group’s total revenue during the fourth quarter of 2022 was $68.8 million, down 0.5% compared to Q4 of 2021. For the full year 2022, total revenue was $205.3 million, an increase of 3.4% over the full year of 2021. The company reports a loss of $2.2 million for Q4 of 2022 and a loss of $3.2 million for the full year of 2022. Salem reports in segments and for the fourth quarter of 2022, net Broadcast revenue increased 4.5% to $53.3 million from $51 million in the same period in 2021. However, Digital media revenue decreased 10.3% to $10.4 million from $11.6 million in Q4 of 2021. The Publishing segment decreased 21.3% to $5.2 million from $6.5 million in the same period a year ago. For the full year of 2022, net Broadcast revenue increased 7.2% to $205.3 million from $191.4 million in 2021. Digital media revenue decreased 1.2% to $41.7 million from $42.2 million, and Publishing revenue decreased 18.9% to $20 million from $24.6 million in 2021. Looking ahead, Salem offers guidance for the first quarter of 2023, saying, “The company is projecting total revenue to be between flat and a decline of 2% from the first quarter 2022 total revenue of $62.6 million.”

Front Page News Industry News

Wednesday, May 11, 2022

Salem Media Group First Quarter Revenue Rises 5.5%. Reporting financial data for the first quarter of 2022, Salem Media Group says total revenue was $62.6 million, an increase of 5.5% over the same period in 2021. Operating income was $5 million, up 14.2% from the same period a year ago. Salem posted net income of $1.7 million in Q1 of this year compared to the net income of $0.3 million reported for the same quarter in 2021. Breaking down the company’s data by segment, net broadcast revenue increased 10% to $48.4 million from $44 million in 2021, while digital media revenue increased 7.1% to $10.3 million from $9.6 million, and publishing revenue decreased 31.8% to $3.9 million from $5.7 million. Looking ahead, Salem Media Group says that for the second quarter of 2022, it is projecting total revenue to increase between 6% and 8% from second quarter 2021 total revenue of $63.8 million.

 

The Vastness of Night. “The two most effective, engaging forms of advertising are in-theatre and overnight radio,” says Walter Sterling. “Surrounded by darkness without distractions, the audience choses to receive the advertising message in the comfort of a bed, perfectly adjusted car seat, or reclining throne. Overnight radio is 25% of the broadcast day. Twenty-five percent. A locally hosted all-night show in a major city is a gift to listeners and advertisers.” You say you can’t afford an all-night talk radio host? Read more of what Walter Sterling has to say here.

 

Tom Millikan Upped to Assistant Brand Manager for WXYT-FM, Detroit. Executive producer Tom Millikan is promoted to assistant brand manager at Audacy’s sports talk WXYT-FM, Detroit “97.1 The Ticket.” He will continue in his executive producer role for “The Morning Show with Stoney and Jansen.” Audacy Detroit SVP and market manager Debbie Kenyon says, “Tom has done an outstanding job as an executive producer and has played a vital role in the success of the station. He is very deserving of this promotion and we look forward to even greater success with Tom in his new role.” Millikan comments, “Throughout my 20-plus years in radio, I’ve been blessed with countless memories of championships and pure joy. I’m living out a dream. I wanted to work in sports radio since the format exploded in the early 90s and I’ve been blessed by the tutelage of all of my co-workers and peers. I was born and raised in Detroit and Detroit sports are part of my DNA. Listeners might not agree with my opinions or show content all of the time, but I genuinely try to produce shows that Detroit sports fans want every single day.”

 

ABC Audio Promotes Liz Alesse to VP. Rising from the director and executive producer of podcast programming position to vice president of ABC Audio is Liz Alesse. In this role, Alesse will oversee the organization’s entire audio business, including ABC News Radio, podcasts, and the entertainment content service. ABC News senior vice president of streaming and digital content Reena Mehta says, “She has been instrumental in growing and re-organizing our award-winning podcast team, developing successful content and monetization strategies, and partnering closely within the news division and across The Walt Disney Company to promote our work. Liz oversaw the successful launches of new podcasts, including, ‘Life Out Loud with LZ Granderson,’ ‘Close Up’ and ‘The Book Case with Kate and Charlie Gibson.’ She also spearheaded creating the ‘GMA’ Channel on Apple Podcasts, which holds the new ‘Good Morning America’ podcast and ABC Audio’s growing library of lifestyle, culture and entertainment on-demand audio content. Under her leadership, the team received Webby Awards, a Gracie Award, GLAAD Special Recognition honors and more.”

 

Edison Research Q1 Top 50 Podcasts Chart; Controversy Has Not Hurt Joe Rogan. The Edison Podcast Metrics chart of the top 50 podcasts in the U.S. for the first quarter of 2022 has been released and the controversy surrounding Spotify’s “The Joe Rogan Experience” in 2021 has not harmed listening; in fact, it appears to have helped it. Edison Research director of research Gabriel Soto says, “Despite a turbulent and controversial ride for Joe Rogan at the beginning of the quarter, his show not only remains the most popular in the U.S., but it has increased in listenership – distancing itself from the number two spot.” This chart by Edison ranks the 50 biggest podcasts by audience size, based on Edison Podcast Metrics (formerly known as the Podcast Consumer Tracking Report). Edison says its list is “the only podcast measurement service that measures the relative audience size and demographics of all podcast networks in the U.S. and measures based on actual podcast listening, not downloads, and does not require an opt-in from podcast networks. Some of the other podcasts making the chart connected to radio-oriented companies include: #6 “Stuff You Should Know” (iHeartPodcasts), #9 “The Ben Shapiro Show” (The Daily Wire), #18 “The Dan Bongino Show” (Cumulus Podcast Network), #31 “The Dave Ramsey Show” (The Ramsey Network), and #39 “The Mark Levin Show” (Cumulus Podcast Network).

 

TALKERS News Notes. According to data from Nielsen, Newsmax’s live coverage of former President Donald Trump’s Pennsylvania rally pushed the network ahead of CNN in audience viewership on Friday night (5/6). Newsmax says that it pulled 738,000 total viewers between 8:00 pm and 10:00 pm ET, with an evening prime-time average of 579,000 viewers. CNN peaked at 645,000 viewers during Anderson Cooper’s show, drawing an average audience of 545,000 on Friday night. Newsmax adds that for the past year, is has consistently held the position as the fourth-highest-rated cable news channel in the U.S. and a top-20 cable channel in daytime, according to Nielsen…..The Independent Broadcasters Association says it is delivering on its promise to provide an efficient way for members to share local talent in which all talent made available to members by members will be on a very affordable cash basis, eliminating the need for costly barter deals. IBA executive director Ron Stone comments, “One of the most costly expenditures for independent radio is paying for syndication, whether by cash, barter, or a combination thereof. Our goal is to provide our IBA members with an opportunity to choose cost-effective talent from other IBA members and eliminate the need to give local inventory to large networks that sell to the very clients we used to do business with nationally, and at far better prices than network pricing. This, I believe, is a huge opportunity to get back inventory used against us at extremely low prices.”

 

The Economy, Russia-Ukraine War, Mark Esper Book, Midterms/Trump & the GOP, Roe v Wade, Musk & Twitter, COVID-19, and Western Drought Among Top News/Talk Stories Yesterday (5/10). The state of the U.S. economy, the high cost of food and gasoline, and concerns about a recession; Russia’s invasion of Ukraine, rumors of Vladimir Putin’s poor health, and the U.S. House approves aid to Ukraine; former Defense Secretary Mark Esper’s book,  A Sacred Oath, that paints former President Donald Trump in an unflattering light; the Trump-approved primary candidates for the November midterms and Trump’s influence over the GOP; the protests over the leaked draft of a Supreme Court decision to overturn Roe v Wade; the controversial attempt by Elon Musk to acquire Twitter; the rate of COVID-19 cases in the U.S., concerns about new variants, and the Chinese zero-COVID policy; and the drought affecting the U.S. West were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Monday, May 9, 2022

Pending Business: Howdy Partner. Radio sales pro Steve Lapa writes today about the strange use of the word “partner” for the advertiser on a radio program. Lapa says, “Do our advertisers (customers) really want a partnership in the true sense of the word? Or do our advertisers want what everyone else wants: maximum value at the best price?” Aside from the inaccurate nomenclature, Lapa wonders if the “partner” designation affects the sales effort. Read his column here.

 

Monday Memo: “Gas cards? OR…Bitcoin?” “Imagine asking a contest winner to choose THAT?” consultant Holland Cooke asks. In this week’s column, he recalls “when radio stunts were fun,” and how a contest “will sound as big as you make it sound.” Read more here.

 

Audacy First Quarter Net Revenue Up 14%. For the first quarter of 2022, Audacy reports net revenue of $275.3 million, an increase of 14% over the same period in 2021. The company also saw its net loss shrink from $21.6 million in the first quarter of 2021 to $11 million in Q 1 of this year. Audacy provides financial data by segment and reports that spot revenue (national and local) was $173.9 million, while its digital segment (including podcasting) rose 16% to $53 million from the $41.6 million reported in the first quarter of 2021. Audacy also breaks down net revenue by format type and reports music radio revenue was $140.4 million; sports radio revenue was $53 million; and all-news & news/talk revenue was $48.3 million. Audacy president and CEO David Field comments, “I am pleased to report that Audacy posted strong first quarter results, delivering 152% growth in Adjusted EBITDA led by double digit revenue growth in both digital and spot radio. With our scaled, leadership position across broadcasting, podcasting and digital audio and our differentiated premium content offerings, we are well positioned to drive rapid evolution and innovation across the organization to capitalize on the outstanding growth opportunities in the dynamic audio marketplace. In Q1, we launched the Audacy Digital Audience Network, an addressable aggregate of 60 million listeners across our app, streaming content, and podcast lineup, enabling precision targeting at scale coupled with real-time optimization and reporting. We are looking forward to a number of exciting additional product and content launches and enhancements over the course of 2022 that will accelerate our audience growth and bolster our advertiser appeal.”

 

Beasley Broadcast Group Reports Q1 Net Revenue Increase of 15.6%. Reporting its financial data for the first quarter of 2022, Beasley Broadcast Group – parent company of Beasley Media Group – states that net revenue was $55.7 million, an increase of 15.6% over the same period in 2021. The company is also reporting an operating loss of $2.7 million in Q1 compared to an operating loss of $2.5 million in the first quarter of 2021. The increase in operating loss is primarily the result of an increase in operating expenses, which reflects additional cost of sales related to the revenue increase, other expenses related to sports and marketing, and additional expenses related to the company’s digital agency build out. Beasley’s net loss for the quarter fell to $3.7 million compared to the net loss of $10.7 million reported for the same period a year ago. Beasley CEO Caroline Beasley states, “First quarter results highlight ongoing progress toward our goal of returning all of our revenue sources to pre-pandemic levels. Net revenue rose 15.6% inclusive of a 35.5% rise in digital segment revenue, which accounted for 14% of total net revenue in the quarter, marking further success of our digital transformation strategies. Comparing our revenue performance to the first quarter of 2019, revenue was down $2.0 million, or 3.4%, as the 2019 results benefited from events and other revenue that has not fully recovered from the effects of the COVID-19 pandemic. Total outstanding debt as of March 31, 2022 was $300 million, as we did not have any scheduled debt payments during the quarter, and we had $50.7 million of cash and cash equivalents on hand at quarter end. We made an interest payment of approximately $12.9 million in February and repurchased $5 million of our 8.625% senior secured notes at a discount early in the second quarter. Our strong liquidity position enables us to make debt repayments while providing us with increased financial flexibility to pursue a potential acquisition or investment within the digital space, should an opportunity arise that could accelerate our digital growth, provide synergies or improve financial results. Looking ahead to the second quarter and second half of 2022, our focus remains on driving further revenue diversification and audience expansion, improving margins, benefiting from the return of the political cycle, maintaining a strong and flexible balance sheet, reducing net leverage and growing free cash flow. We expect progress on each of these fronts as we continue to close the gap on our pre-pandemic revenue and SOI levels and grow from there. I am extremely proud of our team members across the company for everything they have done and are doing to help us move past the challenges presented by the pandemic. We have clearly accomplished a lot and I believe we have many more opportunities ahead to build the company and enhance stockholder value.”

 

Ramsey Solutions Wins Webby Award for Borrowed Future Documentary. The documentary film Borrowed Future – produced by Ramsey Solutions – will be recognized as the Best Video Documentary in the Longform category of the 2022 Annual Webby Awards. Known as the “best of the Internet,” the Webby Awards are presented by the International Academy of Digital Arts and Sciences, the leading international awards organization honoring excellence on the Internet. Borrowed Future was originally released as a podcast in 2019 and reveals the inner workings of the predatory student loan industry that keeps borrowers trapped in debt. Directed by David DiCicco, the story follows college graduates who owe between $9,000 and $1 million in student loans, a college graduate who paid cash for college, and a group of high schoolers who haven’t made their choice yet. Leading voices like Mike Rowe, Seth Godin and Dave Ramsey are also featured. For weeks, the film held top spots on multiple streaming platform charts: #1 documentary on Google Play, #2 documentary on Apple TV and #5 documentary (rent or buy category) on Amazon Prime Video. Dave Ramsey says, “There’s no doubt we stirred up a holy ruckus with this documentary, and I’m so proud of the team that put it together. The student loan industry is downright evil. We definitely can’t bank on student loan forgiveness, and it’s about time America said, ‘I’ve had it!’” Webby Awards executive director Claire Graves comments, “Borrowed Future has set the standard for innovation and creativity on the Internet. This award is a testament to the skill, ingenuity, and vision of its creators.” The 26th Annual Webby Awards will take place in New York City on May 16. See more about the film here.

 

Brandon Tatum Joins Salem Radio Network for Syndicated Radio Program. Conservative media figure and former Tucson police officer Brandon Tatum is joining the Salem Radio Network to fill the slot Larry Elder held until his retirement from radio in early April. He will assume duties as host of the 6:00 pm to 9:00 pm ET program on May 16. The third hour of the program will be repurposed into a podcast. Salem SVP of spoken word Phil Boyce says, “Salem conducted a nationwide search, and some very big names were interested in taking this important slot. Brandon brings a unique talent to Salem, and has a strong following among the nation’s youth, with his involvement with Turning Point USA. His compelling story is riveting.” Tatum has been serving as director of urban outreach for Turning Point USA and hosts the popular program “The Officer Tatum Show” on social media platforms including YouTube. Tatum says, “Words cannot describe what a blessing it is to be a part of the Salem family. I am incredibly humbled and honored to continue the legacy of the great Larry Elder. My mission in life is to serve God with the gifts he has given me. Being the voice of and for the people is one of those gifts.” Additionally, Tatum co-founded Blexit with Candace Owens, an organization “dedicated to changing the narrative in the black community through education, community outreach, and empowerment.” Carl Jackson, who has been subbing as guest host in Elder’s absence both last summer when he ran for governor, and more recently after Elder’s decision to retire from radio, will continue as a regular sub for Tatum.

 

TALKERS News Notes. Philadelphia sports media legend and Pro Football Hall of Famer Ray Didinger announces he’s retiring from his weekend radio program on Audacy’s WIP, Philadelphia. The station reports that Didinger said on yesterday’s program that he co-hosts with Glen Macnow, “Sunday, May 29th will be my final show. I am ready to transition from Ray Didi to grandpop.” Audacy says Didinger covered the NFL for The Philadelphia Bulletin and The Philadelphia Daily News for over 25 years and in 1995 his name was added to writer’s honor roll in the Pro Football Hall Of Fame. Didinger also worked as a senior producer at NFL Films, as an Eagles TV analyst on NBC Sports Philadelphia…..SiriusXM announces that Jessica Casano-Antonellis joins the company as SVP and head of communications, reporting to chief marketing officer Denise Karkos. In this role, she will be responsible for all aspects of the company’s communications function, including strategic communications, brand reputation management and media relations. Karkos adds, “Jessica is a valued and respected leader who brings a wealth of strategic communications experience in the media, entertainment and technology industries to SiriusXM. She will be an incredible asset to the company and will play a key role as we continue to tell the story of SiriusXM as a leader in audio entertainment.”…..Former KQQZ, St. Louis station owner Bob Romanik – whose self-given nickname was “The Grim Reaper of Radio” – has died at age 72 while in hospice. According to his obit in the Belleville News-Democrat, Romanik served as an East St. Louis police officer and chief of police in both Washington Park and Valmeyer, Illinois during his career. He was a notorious raconteur who liberally used racial epithets on the air and referred to his programming as W.A.R. or White Awareness Radio. In 2020, after attempting to conceal his ownership of KQQZ and failing to show up for FCC hearings on the matter, the Commission permanently dismissed his application for renewal.

 

The Economy, Roe v Wade, COVID-19, Russia-Ukraine War, Midterms/Trump & the GOP, January 6 Investigation, and Musk & Twitter Among Top News/Talk Stories Over the Weekend. The sinking Dow and NASDAQ, the high price of food & gas, and the ongoing supply chain woes; the reactions to the leaked draft of a Supreme Court decision to reverse Roe v Wade; the rising rate of COVID cases in some parts of the U.S., concerns about new variants, and the ongoing lockdowns in China; Russia’s war in Ukraine and Vladimir Putin’s propaganda; the November midterm elections and Donald Trump’s influence over the GOP; the Justice Department’s investigation into the January 6 Capitol attack; and Elon Musk’s attempt to acquire Twitter were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Friday, May 6, 2022

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “Mothers of Contention,” looks back at this past week of 5/2 to 5/6. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERSHarry Hurley, talk show host, WPG, Atlantic City; Thom Hartmann, talk show host, WYD MediaTodd Feinburg, talk show host, WTIC, Hartford; and Gregg Stebben, correspondent, beamz.live. The show airs weekends on WONK-FM, Washington, DC; WTIC, Hartford; KSCO, Santa Cruz, CA; KDFD, Denver; KFNX, Phoenix; KTLK-FM, St. Louis; WPG, Atlantic City, NJ; SuperTalk 99.7 WTN, Nashville; KMZQ, Las Vegas;  WTPL, Manchester, NH; WEMJ, Laconia, NH; WTSN, Dover-Portsmouth, NH; WVLY, Wheeling, WV; WTRW-FM, Scranton/Wilkes Barre, PA; WVOX, Westchester, NY; KBDT, Dallas; WGDJ, Albany, NY; WJFN-FM, Richmond, VA; WZFG, Fargo; KTGO, Tioga, ND; KWAM, Memphis; K-NEWS, San Luis Obispo; WGMD, Rehoboth Beach, DE; WCHM, Clarkesville, GA; WPHM, Port Huron, MI; KSYL, Alexandria, LA; KTOE, Mankato, MN; WCED, DuBois, PA; K-NEWS 101.3, Owensboro, KY; WWTK, Sebring, FL; WSAR-AM/FM, Fall River, MA; WIZM-AM/FM, La Crosse, WI; WMVA, Martinsville, VA; KQEN, Roseburg, OR; the Virginia Talk Radio NetworkCRN Digital Talk Radio NetworkPodcast Radio UK and many more. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here. “The Michael Harrison Wrap” is now available in syndication via Talk Media Network to stations across America on a market exclusive basis. For affiliation information, please click here or call 616-884-8616.

 

iHeartMedia Reports Q1 2022 Consolidated Revenue Up 19.4%. Financial results from the first quarter of 2022 for iHeartMedia Inc. reveal consolidated revenue of $843 million, an increase of 19.4% over the same period a year ago. The company’s net loss shrank during the first quarter to $48.7 million from the $242 million net loss posted during Q1 of 2021. iHeartMedia posted operating income of $12.3 million for the first quarter, compared to the operating loss of $76.4 million it reported in Q1 of 2021. Looking at the company’s reporting by segment, broadcast radio was up 16.2% on revenue of $416.5 million, and networks was up 2.1% on revenue of $117.6 million. Those, along with sponsorships & events, comprise the company’s Multiplatform Group. The Digital Audio Group consists of digital excluding podcasting, which reported revenue of $145.7 million (up 22.2%), and podcasting, which reported revenue of $68.5 million (an increase of 78.7%). The company’s Audio & Media Services Group reported revenue of $60.9 million (up 10.4%) for the quarter. iHeartMedia chairman and CEO Bob Pittman states, “We’re pleased to report another quarter of strong results, and believe our performance is further evidence of the successful execution of our digital transformation and multiplatform strategy, and the power of our position as the #1 audio company in America across broadcast radio, digital radio, and podcasting. We remain committed to building on iHeart’s transformation into a data-led, digitally focused business; to investing in areas with high-growth potential; and to continuing our focus on innovation and being at the forefront of new technologies and digital platforms which create incremental growth opportunities for Audio.”

 

‘Toucher & Rich’ Morning Show Expands to Springfield, Mass. Market. The “Toucher & Rich” morning program based at Beasley Media Group’s sports talk WBZ-FM, Boston “98.5 The Sports Hub” will be heard on rock Saga Communications WLZX-FM/W253CD in the Springfield-Northampton, Massachusetts market beginning on May 9. The program, hosted by Fred Toucher (left) and Rich Shertenlieb (right), began expanding to affiliate stations throughout New England last fall. This is an uncommon move for Saga, which has a history of keeping its morning drive programs live and local. Toucher & Rich comment, “We’re excited to be launching ‘Toucher & Rich’ in Springfield and Northampton on ‘Lazer 99.3 and 98.5’ with our new friends at Saga Communications. We’re fortunate to have some of the most loyal listeners in radio and look forward to introducing our show to a whole new audience of potential T&R diehards.”

 

Moms & Media 2022. “Two years into COVID,” Moms’ media consumption is changed. “The Research Moms” at Edison Research updated their annual report in a Thursday webinar consultant Holland Cooke attended; and HC’s “one-sentence version” is: “To reach Mom, use smartphones, Alexa, Facebook, and TikTok.” Click here for his notes, and links to download the report and watch a video of the narrated presentation. Read more here.

 

WJR-AM, Detroit Celebrates 100 Years on the Air. On Wednesday (5/4), Cumulus Media’s news/talk WJR-AM, Detroit kicked off a year-long Centennial celebration. WJR signed on for the first time on May 4, 1922, as WCX, which changed a few years later to WJR to reflect the ownership of the Jewett Radio and Phonograph Company. Cumulus says, “The station has served the community with excellence for 100 years, with a 50,000-watt signal that can be heard across nearly half the country at night, providing the city of Detroit, the state of Michigan, and the Upper Midwest with news, music, sports, and information by some of the most talented people in the radio industry. Through the years, WJR’s legendary lineup has featured broadcasting giants such as Paul W. Smith, Jack Parr, Mitch Albom, J.P. McCarthy, Frank Beckmann, Ernie Harwell, Guy Gordon, and Rush Limbaugh.” In the last several months leading up to Wednesday’s 100th year birthday, WJR has presented dozens of on-air vignettes that mark memorable moments, tell interesting stories, and feature the unique sound and talented people from WJR’s history. In addition, the station has populated www.wjr.com with archival video, audio and photos that tell the story of WJR’s first 100 years. Cumulus Detroit VP and market manage Steve Finateri comments, “Being at WJR is like being part of an all-star team at every position in this famous Fisher Building. WJR is iconic because of the extremely high standards set by so many world class broadcasters over the past 100 years. Today, those same high standards and our ‘blow torch coverage’ is what still attracts top newsmakers from around the Great Lakes Region and is the reason for our continued success. We take great pride in our programming, our business and civic relationships, and serve the community by raising millions every year for numerous worthy charities that improve the quality of life in Detroit. The best-of-the-best seem to find their way to WJR, and I know that tradition will continue on for the next 100 years.”

 

TALKERS News Notes. Chicago media writer Robert Feder reports that Windy City media personality and former WGN-AM, Chicago morning drive host Steve Cochran is going to be heard on Cumulus Media’s WLS-AM in mornings next week. Cochran will guest host the program that is without a permanent host since Bruce St. James exited the station last month. Since exiting WGN, Cochran has been producing a twice-weekly podcast titled, “Live from My Office.”…..Audio streaming service TuneIn names Tom Fuelling chief financial officer. Fuelling has served as CFO for Hulu, OpenX, ARTISTdirect and most recently, Spokeo, Inc. TuneIn CEO Richard Stern says, “Tom is an incredible addition to our growing leadership team. His experience scaling global media businesses that consumers love is unparalleled. Working in a competitive landscape, TuneIn has emerged as a leader in live audio streaming and we look forward to working with Tom as he’ll help us sustain and maintain our growth both domestically and abroad.”…..FOX News Media, in partnership with the National Merit Scholarship Program, announces the selection of the recipients of the third annual Dr. Charles Krauthammer Memorial Scholarship. This year’s scholarships will be endowed to Emmett Gaffney, son of vice president of documentary programming, Brian Gaffney and Grace LeCroy, the daughter of FOX News assignment desk manager Lillian LeCroy and FOX News Edge photojournalist Phil LeCroy. The winners will be featured on the network’s evening newscast, “Special Report with anchor Bret Baier,” on which Dr. Krauthammer was a fixture over the years. Additionally, Daniel Krauthammer will appear on the program tonight to discuss his father’s legacy. In making the announcement, FOX News Media CEO Suzanne Scott says, “We are pleased to continue the tradition of honoring Charles Krauthammer’s extraordinary and celebrated career. Emmett and Grace are exceptional students whose many talents extend beyond the classroom. It is our hope that Charles’ brilliant intellect, integrity and courage will serve as an inspiration for them throughout their next endeavors in higher education. Congratulations to Emmett, Grace, and their families.”

 

Roe v Wade Top News/Talk Story for Week of May 2-6. The leak of a draft decision indicating the Supreme Court will overturn Roe v Wade was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was partisan politics tied with the 2022 and 2024 elections, followed by January 6 committee activity tied with Donald Trump’s influence over the GOP at #3. The Talkers TenTM is a weekly chart of the stories and people discussed on news/talk radio 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.