Industry News

FCC Approves Cumulus Bankruptcy Exit; Berner Promises No Cuts to News Staffs for Two Years

Cumulus has not released an official announcement yet but several outlets – including Editor and Publisher – are reporting that the Commission signed off on the license transfers from the old Cumulus to the new Cumulus yesterday (8/19). Interestingly, Cumulus CEO Mary G. Berner sent a memo to FCC Chairman Brendan Carr on August 14 in which she reaffirmed “Cumulus imgMedia’s longstanding commitment to operating its broadcast radio stations in a manner that serves the public interest, advances localism, supports public safety and responds to the needs and interests of the communities it is privileged to serve.” Additionally, Berner addressed the company’s newsrooms and wrote: “Preserving our coverage of newsworthy events, and their impact on our local communities, is exceedingly important to Cumulus Media. The stronger financial foundation that our financial reorganization will afford us is intended to preserve and strengthen, not diminish, our ability to serve local audiences. Consistent with that objective, we commit to maintaining our existing newsroom staffing levels for a minimum of two years following approval of the requested applications.”

Industry News

Latino Media Network Names Sylvia Banderas Coffinet CEO

As reported by Sara Fischer for Axios, Latino Media Network – the Hispanic media company partially funded by philanthropist and activist George Soros – names Sylvia Banderas Coffinet chief operating officer. Banderas Coffinet most recently served as general manager at Vox Media. Latino Media Network’s acquisitionim of the conservative Radio Mambí network of Spanish-language news/talk stations from TelevisaUnivision aggravated some conservatives who petitioned the FCC to deny the license transfers. The petition was rejected. The Radio Mambí format goes back to Amancio Víctor Suárez’s launch of programming created by anti-communist Cuban exiles in the mid-1980s. The group of 18 radio stations will gradually be turned over to Latino Media Network throughout this year. Company co-founder Jess Morales Rocketto is quoted saying, “We’re not the first business owners with our own political leanings,” while adding that they are focused on commercial success and not “imposing a political agenda.” Read the Axios piece here.