Just hours after Entercom officially assumed control of CBS Radio's stations, it scuttled CHR/Pop formats at stations in Dallas and New York, respectively. Now, they are Alternative stations, using the "ALT" brand. Is that a legal problem, given iHeartMedia's use of the brand across the U.S.? We asked three attorneys for their take on the matter.
Legendary air personality Scott Shannon did his first "weekend blast-off" just after 8am Eastern on WCBS-FM 101.1 in New York by identifying the venerable Classic Hits' station's new owner. Investors on Wall Street geared up for a strong opening for the company's shares on Wall Street. And, just before the Opening Bell for the New York Stock Exchange on Friday, the long-anticipated official word came from Bala Cynwyd, Pa. CBS Radio, formally created 20 years ago with Westinghouse's acquisition of Infinity Broadcasting, is no more. It's now a part of the Entercom family.
After nearly four hours in Room TW-C305 of the FCC's headquarters at The Portals, broadcast TV companies received an expected and anticipated thumbs up to take a leap into the future. In a 3-2 party-line vote, TV broadcasters may now move forward with their use of the Next Generation television transmission standard known as ATSC 3.0 "on a voluntary, market-driven basis." Dissenting Democratic FCC Commissioner Jessica Rosenworcel was particularly vocal in her opposition, saying it will harm consumers' wallets.
The Weed Whacker was put to action by a whipper snapper and two of his GOP colleagues at the Commission on Thursday, as the FCC voted 3-2 to eliminate its cross-ownership rules for newspaper and broadcast media and for radio and TV, respectively. The "Eight-Voices Test" is also gone. Democrats were vociferous in their opposition, but further action to stop the changes is now up to Congress -- or, more likely, the courts.
In the smart home, voice will serve as a prime differentiator in the user experience. A new Parks Associates white paper presents market strategies for long term success in the voice technology market. Among the key topics: New opportunities for voice in connected products. This is information all radio industry C-Suiters need now.
Spectrum and Spongebob are getting a little closer: Viacom and Charter Communications have inked a multi-year renewal and expansion of their distribution relationship. The new deal also calls for the co-production of original content, and collaboration around advanced advertising.
Cumulus Media made an SEC filing Monday that outlined its long-term financial forecast and business plan -- a filing precipitated by separate discussions Cumulus says it has had with "certain noteholders under the indenture governing the 7.75% Senior Notes due 2019." The key words here are "restructuring" — and that has Cumulus stock holders very nervous.
OTA Broadcasting was one of the big winners in the FCC's Incentive Auction, pocketing hundreds of millions of dollars for giving up the spectrum for eight Class A TV stations and two full-power facilities. But, OTA didn't get bids on all of its properties in Auction 1000, and it has now agreed to three separate deals involving a total of 7 Class A TV stations—and one hedge fund that's swooped in to claim them all.
With CBS Radio expected to shift from CBS Corp. to Entercom on Friday, the top brass at Black Rock have unveiled plans to offer senior notes in a private debt offering. Meanwhile, Moody's Investors Service has assigned a rating to CBS Radio's proposed $250 million revolving credit facility, while CBS Radio has also entered the "Strata"-sphere.
Has FCC Chairman Ajit Pai taken improper actions to benefit Sinclair Broadcast Group in its bid to merge with Tribune Media -- namely, bringing back the Commission's "UHF Discount" so such a Goliath transaction can take place? Two leading Democrats in the House of Representatives say so, and they want the FCC's Inspector General to investigate the matter.
Cox Media Group (CMG) has appointed four leaders who will work together to fully integrate the privately held company’s portfolio of traditional and digital media platforms in the Atlanta area, beginning in 2018.
Five of the leading television service providers in the U.S. lost more than 640,000 television subscribers between them in the third quarter of 2017. With more results to be reported, net losses are looking larger than in Q2, during which they lost just over half a million television customers. For the top 10 services in the U.S. listed in the informitv Multiscreen Index, the losses were more severe. Yet, revenue isn't being heavily impacted.
What's fact and what's fiction with respect to broadcast regulation and its impact on multicultural broadcasters and consumers? That's exactly what was discussed in a Thursday phone call that saw the president of the National Association of Black Owned Broadcasters (NABOB) and the President Emeritus and Senior Advisor for the Multicultural Media, Telecom and Internet Council (MMTC) discuss what they consider the facts with the Chief of Staff for Democratic Commissioner Mignon Clyburn.
Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic “Broadcast Deal Myths Debunked.” In this 10th and final podcast in this series, Ferber and Krasnow discuss "Murphy's Law" and "The Greater Fool Theory." In short, they do not apply to broadcast deals.
The FCC today granted the Merger and Divestiture Applications submitted by Entercom and CBS Corp. — the final hurdle that will see the Reverse Morris Trust-fueled merger of CBS Radio with Entercom's radio holdings. The deal's approval, the Commission says, is "subject to certain conditions." With that, the FCC also granted associated waivers on a temporary basis of six months.