Starting Jan. 1, 2018, distribution, inventory management and sales of CBS News Radio and its associated programming will shift from Cumulus-owned Westwood One to Skyview Networks. Company executives tell RBR+TVBR the shift from longtime partner WW1 "has absolutely nothing to do" with Entercom's acquisition of the CBS Radio properties and is the result of due diligence on the part of the long-standing audio news operation.
Pandora Media investors continued to sell their shares on Tuesday, as the streaming audio company's stock closed down 3.4%, to $8.65. The dip could be tied to a series of price target hair cuts from Wall Street analysts.
Here's something to share with the programming team, and with the person who cuts your station's checks. A new radio station prep service that features, at its core, a daily feed of call-in comments from listeners intended to “spark” further audience engagement has been launched by United Stations Radio Networks.
Here's the good news for beleaguered Pandora Media shareholders: The company's total consolidated revenue in Q2 saw a 10% year-over-year increase. Additionally, its gross profit increased as did its all-important advertising revenue. What's disconcerting is the company's dip in total listener hours.
Late last week, the Radio Music License Committee (RMLC) learned that RMLC-represented stations were awarded a more-than-60% discount off of the SESAC radio station license rate card. The RMLC points out that SESAC had offered stations that chose not to arbitrate only a 5% discount. "In contrast, many of the RMLC-Represented Stations that chose to participate in the arbitration, and that overpaid SESAC on an interim basis since 2016, will now receive a combined credit worth tens of millions of dollars," the RMLC says.
Marketron, a provider of business software solutions and services to the media industry, has completed its purchased RadioTraffic, a traffic and billing system used by approximately 1,000 radio stations. Closing of the deal took place today, with Media Services Group serving as broker.
ABC Radio and Skyview Networks have agreed to an early extension of their content, ad sales, affiliate sales and audio distribution agreement. This early renewal means their close relationship will continue through 2026.
A bitter $1 million matter involving Michael Baisden and former distribution and production partner Cumulus Media has taken another turn, as Cumulus unit Radio Networks on Wednesday asked a Dallas-based Federal judge to widen its victory over the talk host.
Here's the good news for Entercom Communications shareholders: the pure-play owner of broadcast radio stations saw its net revenues jump to $125 million in Q2, from $121.6 million in the year-ago period. Unfortunately, the company set to usher in the CBS Radio stations saw its Station Operating Income (SOI) and Adjusted Net Income fall. Much higher station expenses may be to blame.
The Miami-based multimedia company targeting Hispanic consumers revealed in an SEC filing yesterday that it received notification from OTC Markets on July 20 that it had regained compliance with the minimum market capitalization standard for OTC trading. Accordingly, "SBSAA" has regained compliance with the rule and will continue to be listed on the OTCQX.
A pure-play radio broadcasting company active in six markets including Honolulu could be poised for growth in the coming months. That's because Jon Kelly — a key investor in Birmingham, Ala.-based SummitMedia —has agreed to purchase the controlling interest in the company held by Highpoint Holdings.
Brian Wieser, a Senior Research Analyst focused on advertising at New York financial house Pivotal Research Group, has emerged in recent months as a sage on media company performance. Wieser reviewed Nielsen's Q2 2017 earnings, released Thursday morning, and judges that they're in-line with revenue expectations and slightly above expectations on profitability. Thus, "2017 looks like it will turn out more or less as anticipated" for the nation's dominant audience measurement firm.
The satellite radio company and Pandora Media investor saw its share volume surge to nearly double its normal average in Thursday's trading, as its stock soared more than 8% on news it met Wall Street profit expectations of 4 cents per share.
In the latest efforts designed to silence the many pirate broadcasters operating across the East Coast of the U.S., the FCC today issued a pair of forefeiture orders to two Haitian-Americans for broadcasts that, while clearly addressing an arguably under-served populace, are simply illegal. We've got an RBR+TVBR Observation on the matter.
There's a facilities swap that's set to take place in a section of New York famous for wineries, waterfalls, glass, and NASCAR. Meanwhile, the "Heart & Soul of Richmond" is trading hands. Those are the two deals profiled in RBR+TVBR's TRANSACTIONS TODAY.