Tag: Jeffrey Warshaw

Industry News

Two Leading Edge CEO Fireside Chats Set for TALKERS 2023

By TALKERS | by TALKERS

Two leading CEO “Fireside Chats” have been scheduled for TALKERS 2023 adding to the impact of a power-packed day of sessions and presentations set for the talk media industry’s major annual gathering. The event will feature approximately 60 outstanding speakers on Friday, June 2 at Hofstra University on Long Island.

Connoisseur Media CEO/founder Jeff Warshaw and Newsmax Media CEO/founder Christopher Ruddy will each engage in candid one-on-one conversations with TALKERS publisher/founder Michael Harrison about the present and future state of talk media.

Jeff Warshaw describes himself as a “lifelong broadcaster.” He built his first station while still a student at the Wharton School of Business at the University of Pennsylvania. In 1993, he founded Connoisseur Communications Partners LP, a 39-station group which he later sold to Cumulus Broadcasting in 2000 for $258 million. At this time, he pioneered notable progress in integrating legacy media with emerging digital technology. In 2004, he formed Connoisseur Media which now operates 13 radio station brands and digital assets in five markets. Highly respected and celebrated industry-wide for his outspoken candor and bullish approach to radio station ownership, Jeff Warshaw serves on the board of directors of the National Association of Broadcasters, the executive committee of the Radio Advertising Bureau, and is chairman of the Nielsen Audio advisory council. Harrison describes Warshaw as “one of the most knowledgeable, emerging forces to be reckoned with among radio industry leaders.”

Christopher Ruddy founded Newsmax in 1998 to publish online and offline content in the fields of news, politics, health and finance. Newsmax.com ranks consistently as one of the country’s most-trafficked news websites. Newsmax TV, a cable and over-the-top media service news channel started in 2014, has shown remarkable growth becoming one of the nation’s leading television news and political opinion sources.  Newsmax recently entered the field of talk radio with a syndication arm and is reportedly exploring expansion into radio station ownership. As a journalist, Christopher Ruddy previously worked at the New York Post and the Pittsburgh Tribune Review. He was also awarded a Media Fellowship at the Hoover Institution on War, Revolution and Peace at Stanford University. He holds a BA summa cum laude in history from St. John’s University and a Master’s in Public Policy from the London School of Economics. Harrison describes Ruddy as “a key player in emerging 21st century media.”

For more information about TALKERS 2023, see story below

Front Page News Industry News

Wednesday, May 4, 2022

By Editor | by Editor

Cumulus Media 2022 First Quarter Net Revenue Rises 15%. Reporting financial data for the first quarter of 2022, Cumulus Media’s total net revenue for the period was $232 million, an increase of 15% over the same period in 2021. The company says it was the fifth straight quarter of sequential improvement in revenue performance versus a comparable quarter in 2019. Cumulus also reports a Q1 net loss of just $0.9 million, down from the net loss of $21.9 million reported in the first quarter of 2021. The broadcast radio segment is broken into two parts – spot, which rose 11.9% over the same period a year ago, and network, which was up 5.2%. The company’s digital segment was up 18%, led by digital marketing services (+35%) and podcasting (+22%). Cumulus president and CEO Mary G. Berner says, “Our outstanding first quarter results once again demonstrate the positive impacts of our ‘audio-first’ strategy to transform the company from a one-dimensional radio broadcaster to a multi-dimensional audio media company. Following a strong 2021 performance, this quarter’s results underscore our ability to deliver value to our shareholders through sustained profitable top- and bottom-line growth and balance sheet de-levering. We delivered sequential revenue improvement for the fifth straight quarter versus the comparable 2019 quarter, grew EBITDA by 250% year-over-year, and generated continued strong cash from operations, which collectively allowed us to achieve the company’s lowest net leverage in over a decade. Given our best-among-peers balance sheet, strong financial momentum and the company’s positive 2022 outlook, we expect ongoing cash flow generation that will support a meaningful return of capital to shareholders now and in the future. Accordingly, as a first step, today we are announcing a $50 million share repurchase program with a plan to commence share repurchases in the near-term. This capital return program is underpinned by our continued belief that the company is significantly undervalued.”

 

Cumulus Rejects Unsolicited Acquisition Bid. The last sentence of Cumulus Media president and CEO Mary Berner’s statement outlining its first quarter results says it all: “The company is significantly undervalued.” That was also the theme of a memo from Berner to Cumulus shareholders regarding the unsolicited offer from a consortium led by Connoisseur Media CEO Jeffrey Warshaw to acquire Cumulus. Berner says, “The company recently received an indication of interest in acquiring the company for $15 to $17 per share. After a careful and thorough review, conducted in consultation with our financial and legal advisors, the board unanimously concluded that the indication of interest significantly undervalues the company and is not in the best interests of its shareholders. The company’s board is open to all paths that continue to drive superior shareholder value. Our strong momentum across business lines, multiple digital revenue growth drivers, operational efficiency and superior cash flow provide the company with substantial untapped upside that it expects to continue to realize on behalf of its shareholders. Given these facts and circumstances, the board unanimously believes execution of the company’s strategy will deliver significantly more value to shareholders than this indication of interest.”

 

Bill O’Reilly’s ‘No Spin News’ Debuts This Week. The Bill O’Reilly-hosted program from Key Networks debuts this week on 58 stations across the U.S. Key Networks says “No Spin News” is “a full hour of trailblazing journalist and bestselling author O’Reilly’s fair, smart, fact-based analysis” airing every weeknight. The one-hour show has been airing in New York on 77 WABC for over a year under the title, “Common Sense with Bill O’Reilly.” The program now joins the suite of shows syndicated by Key Networks that includes: “The O’Reilly Update,” “The O’Reilly Update – Morning Edition,” and “The O’Reilly Update – Weekend Edition.” O’Reilly says, “We are beyond happy that radio stations from coast-to-coast are spreading the ‘No Spin’ mantra. We provide something that’s badly needed in the USA: honest fact-based analysis.” Key Networks COO Dennis Green comments, “Based on the success of ‘The O’Reilly Update,’ the marketplace was ready for more content from Bill O’Reilly. ‘No Spin News’ provides analysis on what is happening in the world that listeners want to hear. This is content you won’t get anywhere else, and I expect stations to add Bill O’Reilly’s ‘No Spin News’ in large numbers!”

 

WABC-TV, New York Opens Long Island Bureau at Hofstra University. New York City’s WABC-TV is opening a new, Long Island bureau today (5/4) inside the Lawrence Herbert School of Communication at Hofstra University. The small bureau will have a full-time reporter and two production trucks in Long Island, New York. WABC has a history of supporting the journalism program at the university, donating significant quantities of valuable equipment and providing internship and career opportunities for many students. Hofstra students will have regular exposure to WABC journalists, expanded internships, guest lectures and seminars held by WABC professionals. The Long Island bureau, located in the newsroom of Hofstra’s award-winning, student-run radio station, WRHU-88.7 FM, reinforces WABC-TV’s commitment to Long Island, as well as the Herbert School’s commitment to community journalism, including the newly launched community news site, LongIslandAdvocate.com. Lawrence Herbert School of Communication dean Mark Lukasiewicz states, “Our journalism program emphasizes experiential, hands-on learning and encourages our student journalists to engage with Long Island communities to tell impactful stories. The Eyewitness News Long Island bureau, located alongside WRHU’s newsroom, will provide that kind of hands-on opportunity – a daily chance for students to observe and learn from great local journalists doing the work of New York’s top broadcast news operation.”

 

TALKERS News Notes. The nationally syndicated “Rob Carson Show” joins the 1400 Investments, LLC-owned Nevada Talk Network. The program, syndicated by Newsmax and airing in the 12:00 noon to 3:00 pm ET daypart, is being heard on KELY-AM, Ely; KNNR-AM, Sparks-Carson City; KDJJ-FM, Fernley-Fallon; KPKK-FM, Amargosa Valley; KAVB-FM, Hawthorne; and KPVM-TV 25.6, Pahrump…..The syndicated “Todd Starnes Show” – airing live from 12:00 noon to 3:00 pm ET – adds new affiliate station KTXW-AM/FM, Austin “The Bridge” to its roster of affiliate stations…..FOX Nation – FOX News Media’s “on-demand streaming service designed to complement the FOX News Channel experience with a members-only destination for its most passionate and loyal super fans” – is premiering a documentary series about music and television industry star Sharon Osbourne in September. Titled “Sharon Osbourne: To Hell & Back,” the four-part program features “a candid and heartfelt look into Osbourne’s personal and professional life, highlighting how she found herself in the crosshairs of the cancel culture movement after exiting CBS’s ‘The Talk.’”…..SiriusXM is presenting nationwide, comprehensive coverage of the Kentucky Derby this Saturday (5/7). The wire-to-wire race broadcast of the Kentucky Derby is provided by NBC Sports Audio Network.

 

Roe v Wade Leak, Midterm Primaries/Trump & the GOP, the Economy, Russia-Ukraine War, COVID-19 Among Top News/Talk Stories Yesterday (5/3). Reactions to the leak of a draft of the Supreme Court’s decision to overturn Roe v Wade; the primary elections in Ohio and Indiana, the battle for control of Congress in November’s midterm elections, and Donald Trump’s influence over the GOP; the activity on the world’s financial markets, the supply chain woes, and concerns about a recession; Russia’s ongoing invasion of Ukraine and the effects across the globe; and concerns about new Omicron variants and the possibility of a serious summer COVID wave 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

Friday, April 15, 2022

By Editor | by Editor

 

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 “Hostile Takeovers” looks back at this past week of 4/11 to 4/15. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Curtis Sliwa, talk show host, WABC, New York; Jim Bohannon, talk show host, Westwood One; Victoria Jones, executive director, DC Radio Company; Bill O’ Reilly, talk show host/commentator, No Spin News; and Matthew B. Harrison, associate publisher, TALKERS/law professor. 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; KQSP, Minneapolis; 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 Network; CRN Digital Talk Radio Network; Podcast 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.

 

Report: Connoisseur’s Jeffrey Warshaw Offers to Buy Cumulus Media. According to a report from Reuters, Connoisseur Media CEO Jeffrey Warshaw is leading a consortium that is offering to acquire Cumulus Media “for close to $1.2 billion, including debt, people familiar with the matter said on Thursday.” Warshaw’s offer is to take the company private for $15 to $17 per share. Before the news broke yesterday, Cumulus was trading at around $11 per share. After the news broke, Cumulus stock closed Thursday’s trading at $14.21 per share. Warshaw says the consortium would be willing to pay more, subject to due diligence. Reuters says that “a Cumulus spokesperson confirmed that the company had received ‘an unsolicited, non-binding, highly conditional indication of interest’ and that its board of directors was reviewing it alongside its financial and legal advisers.” Cumulus operates 406 radio stations, syndicator Westwood One, as well as its digital platform. The Reuters piece notes that in February, Noble Capital Markets analysts put a $27 price target on the stock, saying that “Cumulus is seeing strong advertising demand driven by sports betting, government, restaurants and cryptocurrency platforms.”

 

iHeartMedia Division President Linda Byrd Announces Retirement. Forty-year iHeartMedia staffer Linda Byrd announces she is retiring from her role as division president for iHeartMedia Florida and moves into an advisory role, effective July 15. The company says that “as a company leader for four decades at iHeartMedia, Byrd has contributed to the success of nearly 50 different markets and countless employees.” iHeartMedia says one of the duties in her advisory capacity will be the continued involvement in iHeartMedia’s Hispanic footprint, where she has made significant contributions. Byrd says, “It’s hard even to say the word retire. I have had the most fantastic career working in an industry that I absolutely love. I’ve never even thought about doing anything else. And I am so fortunate to have been on this iHeart train, and previous companies, for the last 40 years. I wouldn’t trade it for the world. I am thankful and excited to have the opportunity to transition into an advisory role for the next stage of my life. And I’m truly appreciative of the support and partnership I have had for so many years with Bob [Pittman], Rich [Bressler], Greg [Ashlock] and Hartley [Adkins]. I couldn’t have asked for a better team to learn from and work with.”

 

John Rowe to Lead Cumulus Northeast Wisconsin. Radio executive John Rowe is promoted to vice president and market manager for Cumulus Media’s combined business unit of Cumulus Green Bay and Cumulus Appleton/Oshkosh. Rowe has been serving as vice president/market manager for Cumulus Appleton/Oshkosh for nearly eight years and adds leadership responsibilities for the Green Bay market, effective immediately. In the two markets, Cumulus operates sports talk WDUZ-AM/FM, Green Bay and news/talk WOSH-AM/FM, plus seven music brands. Rowe comments, “I am excited to lead both Wisconsin clusters on behalf of Cumulus Media. The combination of talent and quality programming in each market makes this an ideal role and provides a host of opportunities going forward. My primary focus will be to enhance these great brands while meeting the needs of both our listeners and advertisers. I want to thank Mary Berner, Bob Walker, and Mark Sullivan for this opportunity.”

 

TALKERS News Notes. Sports talk KKFN-FM, Denver “104.3 The Fan” afternoon drive personality Darren “DMac” McKee is named Denver’s best talk show host in alt-weekly Westword’s Best of Denver 2022 edition. The Bonneville station notes that the recognition was not specific to the format of sports, or even the field of radio. McKee co-hosts “The Drive with Tyler Polumbus and DMac.” It was a week for kudos for the duo as Polumbus was honored by the Colorado Broadcasters Association with their 2021 Award of Excellence in the category of Best Regularly Scheduled Entertainment Program for his “Mount Polumbus” segment…..SiriusXM announces the launch of Amanda Seales’ “Smart Funny & Black Radio,” a new morning show on Kevin Hart’s Laugh Out Loud Radio channel. The weekly program kicks off on Monday (4/18) at 10:00 am ET. Seales is joined by co-hosts Taj Rani and JeremiahLikeTheBible. Kevin Hart says, “I’m beyond excited to have the amazing Amanda Seales join Laugh Out Loud Radio’s expanding family, as we continue to deliver a dynamic slate of voices to the channel. Passionate, unapologetic, brilliant, talented, and most of all funny, her show is going to be a can’t-miss experience for our SiriusXM listeners nationwide.”…..Larj Media and iHeartMedia debut the new serial podcast “Nobody Should Believe Me,” hosted and executive produced by novelist Andrea Dunlop. The podcast investigates Munchausen by proxy, a form of medical child abuse in which a caregiver feigns, exaggerates, or induces illness in their child for the purpose of receiving attention and sympathy from medical staff, their family, the community, and even strangers online. Dunlop first became interested in the subject when her older sister was investigated for Munchausen by proxy. This catastrophic series of events that followed tore her family apart and set her on a journey to understand this most taboo form of abuse. In this groundbreaking podcast, Dunlop talks to some of the top experts in the world to explore the criminology and psychopathology behind Munchausen by proxy and to reveal the wide swath of destruction these perpetrators leave in their wake…..Audacy announces that its premium podcast studios, including Cadence13 and Pineapple Street Studios, have garnered 22 nominations for the 2022 Webby Awards, the leading international award honoring excellence on the internet, representing the most across the industry. Audacy’s nominations span original series, partner series, partner networks, and branded content across 20 categories, including Arts & Culture, Crime & Justice, Documentary, Diversity & Inclusion, and Sports.

 

Russia-Ukraine War Top News/Talk Story for Week of April 11-15. The ongoing Russian invasion of Ukraine and the greater topic of U.S. foreign policy was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was the U.S.  economy, including high gas prices, inflation and employment figures, followed by the Brooklyn subway shooting, crime, and guns at #3. The Talkers TenTM is a weekly chart of the top 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.