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Industry Views

SABO SEZ: The Myth About Wall Street

By Walter Sabo
CEO, Sabo Media Action Partners
A.K.A. Walter M Sterling
Daily host, WPHT Philadelphia
Weekly host, Talk Media Network

imWall Street investors do not put up money for traditional radio and television stations.

That myth has been a burden within our culture for about 10 years and it just is not true. From a 1980s fast-buck perspective, traditional media does not offer the no-effort returns it once did. But major investors continue to seek opportunities from radio and TV acquisitions. Notably, today the money is much “smarter” than that found in the 1980s.

(Side note, the 1980s rush to radio put the business in the hellish financing we live with today. The new money won’t do that.)

Marc Rowan is the CEO of Apollo Advisors which bought Cox TV and radio. Apollo was first money in Sirius radio. Their escrow check closed the deal for Howard Stern and changed the radio industry. Marc explained to me that Apollo is not an investor, they are “owners.” Apollo has a long game plan as savvy operators with decent, moral standards. Marc actually likes, consumes and celebrates media. Apollo is not a chop shop. They build businesses.

George Soros is about to close on Audacy. Mr. Soros is a brilliant business builder. Like Apollo, he is an owner/operator. Soros represents smart money going into the proven medium of radio.

John Malone, builder of the cable industry, saved Sirius within days of bankruptcy. The company was about to miss payroll, Malone pulled it out the fire and through Liberty holdings he continues to control 83% of SiriusXM. Over the years he has grown, not diminished Liberty’s stake in the satellite company.

Rowan, Soros, and Malone have one thing in common: They are not jokers. They each have robust histories of sober, sane investments which has made them billionaires. While you and I shop the price of milk, the new owners of proven media are model guides for future Wall Streeters.

Walter Sabo has been a C Suite action partner for companies such as SiriusXM, Hearst, Press Broadcasting, Gannett, RKO General and many other leading media outlets. His company HITVIEWS, in 2007, was the first to identify and monetize video influencers.. His nightly show “Walter Sterling Every Damn Night” is heard on WPHT, Philadelphia. His syndicated show, “Sterling On Sunday,” from Talk Media Network, airs 10:00 pm-1:00 am ET, and is now in its 10th year of success. He can be reached by email at sabowalter@gmail.com

Industry News

Bold Gold Media Group Unveils Bold Gold Studios

Bold Gold Media Group announces the grand opening of Bold Gold Studios – a brand-new, state-of-the-art audio and video podcast and recording studio located in the newly renovated historic Liberty Theater, on Main Street in Liberty, New York. The company says that in addition to providing interested podcasters and content creators a place to make their audio and video magic, this studio will also serveim as a satellite radio studio for Bold Gold Media’s four local broadcast radio stations, including news/talk WVOS-AM/W223DB “Catskills News Talk 92.5 & 94.9.”  Bold Gold Studios will be available for lease opportunities, and offers brand new professional audio and video recording gear, with experts available to assist in recording, producing, and even marketing branded multi-media podcast or A/V productions. The company will hold a grand opening celebration on April 19. Bold Gold New York general manager Dawn Ciorciari says, “We are grateful to Bruce Davidson at the Liberty Theater for partnering with Bold Gold Media to create and manage this state-of-the-art studio in his historic building.  This studio will extend Bold Gold Media’s reach in Sullivan and the Catskills and serve as a new professional space for audio and video content creators.”

Opinions

NAB’s First Amendment Defense a Farce

By Pete Schartel
KCXL-AM
Owner

 

LIBERTY, Kan. — It is my patriotic duty alert fellow broadcasters that last week the new driver of the National Association of Broadcasters threw both our cherished First Amendment right of free speech and the preservation of independent broadcast voices under the bus by calling for the silencing of broadcasters that carry Russian-sponsored programming.

New NAB CEO Curtis LeGeyt states that “the NAB is a fierce defender of the First Amendment.” Perhaps he should have used the word “farce” instead. Advocating to shut down independent radio stations, such as my own which has zealously practiced the American ideal of creating a fully informed electorate, doesn’t strike me as being a “fierce defender.” Since his statement came out during meetings with 300 lawmakers it seems more plausible that this was a knee-jerk attempt to make them like him by playing on public sympathy and emotion.

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