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.
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president of operations Dave Milner says, “Alex is an extremely effective and capable leader. His track record in Houston has been outstanding, so it’s a logical progression for him to help lead both Albuquerque and Tucson.” Cadelago comments, “I am honored to have the opportunity to work with our amazing teams in Albuquerque and Tucson and am looking forward to building upon the success Jeff and Ken have achieved in these regions. I would like to thank Mary Berner and Dave Milner for their support in expanding my role with Cumulus, and Dan Bennett for his mentorship over the past 10 years.”
debt exchange and ABL Facility upsize and extension. This is an excellent outcome for the company especially given the generally difficult financing environment for legacy media companies. Specifically, we extended maturities to 2029, reduced the principal amount of outstanding debt by approximately $33 million, obtained attractive interest rates, maintained a structure free of financial maintenance covenants, and increased capacity on our ABL Facility by 25%.” The Exchange Offer means approximately $325.7 million aggregate principal amount of the Issuer’s 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) were tendered for new 8.000% Senior Secured First-Lien Notes due 2029 (the “New Notes”) issued by the Issuer. Following the expiration of the Exchange Offer and Term Loan Exchange Offer, approximately 96.8% of the aggregate principal amount of outstanding Old Notes and Old Term Loans on a combined basis, were tendered for exchange of New Notes and New Term Loans, respectively.
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.
and M&A), and investor relations efforts. Jones has led the Cumulus through several strategic transactions and growth initiatives including the acquisition of Westwood One in 2013. Additionally, he oversees IncentRev, the company’s e-commerce and daily deal platform. Cumulus CEO Mary Berner comments, “With his deep understanding of both Cumulus Media and Westwood One, Collin is uniquely qualified for this role and is well-prepared to harness the full power of our platform to help Westwood One grow. Collin has consistently demonstrated his savvy business acumen, effective management style, and collaborative spirit, and I have full confidence that he has the skills and the vision to build upon Suzanne’s considerable accomplishments.” Berner adds, “I would like to thank Suzanne for her invaluable contributions and her pivotal role in our success. Under her leadership, we launched the top-rated Cumulus Podcast Network, built the multi-platform Westwood One News/Talk franchise, and established the industry-leading Audio Active Group. Throughout her time with Cumulus, she has been a remarkable leader, colleague, and mentor to many, and we are certain she will accomplish great things wherever she chooses to share her talents next.”
