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Volume 24, Issue 188, Jim Carnegie, Editor & Publisher
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Wednesday Morning September 26th, 2007
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Radio News ®
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 Clear Channel clears hurdle
The buyout of radio giant Clear Channel needed approval of 66.7% of its shareholders to go to Bain Capital Partners and Thomas H. Lee Partners, a hurdle it cleared with room to spare. Votes representing 73% of eligible shares gave thumbs up to collect 39.20 per share from the private equity firms. According to the Associated Press, 98% of shares actually voted went into the yes column. The original offer was 37.60 per share, a bid long ago sweetened. The final piece of the puzzle was the offer of so-called "stub equity," allowing some shareholders to retain an ongoing stake in the company. Next up in the process are approvals from the Federal Communications Commission and the Department of Justice, and then closing. The rough target date for closure is December. Mark May said, "We are pleased with the outcome of today's vote. We look forward to completing this transaction with T.H. Lee and Bain as quickly as possible." Clear Channel sold off its television group to a subsidiary of Providence Equity Partners Inc. last May for 1.255B. It is currently in the midst of a rather bumpy process of selling off smaller market radio stations, and with the approval to go ahead with this merger, will also be forced to market grandfathered stations in larger markets as well. A large number of potential spin-offs were placed in Aloha Station Trust under the care and feeding of Jeanette Tully last June. AP says the group will have about 675 mostly large-market stations and its billboard business going forward.
Ford to offer HD Radio across most product lines
Ford became the first automaker to offer HD Digital Radio across multiple product lines. The dealer-installed HD radio option is now available nationwide on nearly all 2008 model year Ford, Lincoln and Mercury vehicles. Additionally, HD Digital Radio can be installed on many earlier models from 2005, 2006 and 2007. As with SYNC, the extensive availability of HD Digital Radio furthers the company's ongoing efforts to deliver new entertainment technologies to automotive consumers. HD Radio joins other new technologies - including SYNC - being offered in Ford, Lincoln and Mercury vehicles to make driving more enjoyable and convenient than ever before. Beginning immediately, HD Digital Radio will be available as a dealer-installed option on new, pre-owned and currently-owned vehicles. Price points will vary by dealership.
 Phil Cowdell, WPP's Global Media Director CEO of Ford Media Services, tells RBR about Ford's SYNC in an upcoming interview in our SmartMedia magazine: "...it will allow you to use your mobile phone through the car's hi-fi system. You can drive hands free. SYNC basically provides a software operating platform in the car that means whatever devices you've got as a consumer, when you get in your car you can use them seamlessly. For example, when you plug your iPod in you then say "play Elvis Costello--Good Year for The Roses." If somebody sends you a text message and you're driving it comes up with a sign that says "text message received" and you can say "read text message." You can even select the language you want and male or female voice to read you your text message." To support the HD Radio launch, Ford, Lincoln and Mercury dealers will benefit from an aggressive, multi-million-dollar, 13-week, on-air radio marketing campaign in partnership with the HD Digital Radio Alliance. The commercials will air in 100 markets over some 700 radio stations beginning today.
RBR observation: This is what we've all been waiting for-the last piece of the HD Radio puzzle. Hopefully the dominoes will start falling as well with GM and Chrysler. Now the real push begins against satellite's 12.95 a month price tag. Now AM stations can offer music again as well. Congratulations Radio-this is some real icing on the cake for the NAB in Charlotte.
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Houston PPM in-tab falling
Another problem for Arbitron in Houston? Looks like its turnover, as the Houston PPM in-tab is falling, falling, falling. The Houston September week 2 sample dropped significantly and the weekly in-tab dropped to a record low, losing 70 in-tab. Conversely, Philadelphia is up slightly and continues to be traveling in the right direction. Arbitron SVP Thom Mocarsky tells RBR: "The Houston panel is over two years old. As such we have panelists that are timing out of the panel, having hit their two year anniversary. We retire exiting panelists at the beginning of each month. As this survey was the first month of September we deinstalled 25 homes (representing about 50 people.) Folks that make it all the way through two years are usually our best compliers so we took a step backwards in in tab going from a 6+ DDI of 90 to 85 this week. In Philly the panel is much newer and we do not yet have folks at their two year time out. We deinstall folks who have hit their two year anniversary only once a month so expect to continue back making progress next week."
Said Cox Radio CEO Bob Neil: "Once again, a quick mention in a conference call about Holidays doesn't cover a big drop in sample. The majority of the drop appears to be caused by people dropping out of the panel after two years. Where is the memo to clients before this kind of thing happens? Given the recent experiences, one is left to ponder whether they know and 'forgot' to tell us, and didn't know until people pointed out the problem. They have a deeper hole now in Houston to dig out of. The promise 'fixed by October' deadline is looming, and while they can't get the samples right in Houston and Philadelphia, we have the looming launch in the richest radio revenue markets in America. We have to keep them focused on getting the sample right, or bad research will end up costing the industry millions of dollars and advertiser uncertainty when we can least afford it."
|View the data | Philadelphia | Houston |
 Panel takes a lyrical look
at censorship
Although Don Imus was in the title of a Subcommittee on Commerce, Trade and Consumer Protection session, he was otherwise nowhere to be found in the hearing in which Bobby Rush (D-IL) hosted members of the broadcast, recording and interactive communities in a discussion of language used in their content. The First Amendment was at the core of the proceeding. Jan Schakowski (D-IL) succinctly summed up the dilemma posed by this issue, saying "Censorship of media that we find offensive is a dangerous game," but adding on the other hand that she doesn't believe that corporations should be able to profit off degrading material, and that consumers have responsibility as well. The panel included both distributors and producers of content, and all agreed that the problem, such as it is, sources from the production end of the equation. Radio One's Alfred C. Liggins III and Viacom's Phillippe P. Dauman both noted that as distributors they restrict themselves to edited versions of potentially objectionable material. In Liggins case, this was a necessity since Radio One's core business is as an FCC-regulated broadcaster. Liggins said his company will take the edited versions and edit further if necessary.
| Read More |
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 VNR fine leaves questions in its wake
The 4K assessment against cable giant Comcast levied by the FCC over use of material contained in an video news release without sourcing has Comcast scratching its head and a watchdog barking in triumph and looking for more of the same. And at least one FCC commissioner was pleased. "I applaud the Enforcement Bureau's decision to enforce our sponsorship identification rules, and to propose, for the first time, a forfeiture fine for the failure to disclose the sponsor of a video news release," said Jonathan Adelstein (D). " Commission rules are clear: viewers have a right to know who is trying to persuade them so they can make up their own minds about what they are presented. I applaud Chairman Martin's leadership, and look forward to quick action on the many other pending video news release complaints."
"We're pleased to see the FCC is finally waking up to the issue of ofake news," said Craig Aaron, communications director of Free Press. "But the fine levied against Comcast is just the tip of the tip of the iceberg. Video news releases dressed up as real news were uncovered at more than 100 stations. We hope the FCC will soon fine those stations and issue clear guidelines to end the epidemic of fake news once and for all." Free Press noted that the CN8 item in question was cablecast in 20 markets, including New York, Philadelphia and Washington DC. Free Press partner Center for Media and Democracy said it caught Comcast doing the same thing at least four additional times, and also said that at least two broadcast stations used the same exact VNR, for "Nelson's Rescue Sleep," without ID, and is wondering if there will be additional FCC actions.
For its part, Comcast is still unconvinced that it did anything wrong. Sena Fitzmaurice, Senior Director, Corporate Communications, said, "We are perplexed by this Bureau action. The relevant statute does not cover cable programming, and even if it did, CN8's programming was entirely consistent with the statute. The segments in question were chosen by journalists in the course of reporting, and Comcast received no consideration or benefit by using the material. We will reiterate these facts in our response to this Notice."
RBR observation: As we noted yesterday, at 4K this is a relatively inexpensive warning shot. But we cannot help but note that both sides are not fully satisfied, and we also know that this issue has an FCC 8th Floor sponsor in Jonathan Adelstein. It will be very interesting to see if this FCC VNR action is an isolated incident or the Act One of an ongoing serial.
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No Appointment Necessary.
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Advertisement
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BE is always there for you
That's why, at the NAB, Broadcast Electronics will be focusing on stations like yours; stations in mid- and small-markets, bringing fresh, profit-making ideas to the show along with our advanced technologies. See us in booth 417.
Learn more.
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Ad Business Report TM
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 Arbitron releases
RADAR 94 rankers
Arbitron announced the release of its September 2007 RADAR radio network audience reports (RADAR 94) covering June 29, 2006 - June 27, 2007. RADAR 94 marks an increase in sample size to 180,000 diarykeepers. This is part of a continuing sample increase initiative, with a goal of 200,000 diarykeepers by December. During the RADAR 94 survey period, 72% of U.S. consumers ages 12+ heard one or more network radio commercials in the course of a week. Among the prime audience demographics sought by advertisers, the commercials aired on the 56 radio networks reached 72% of Persons 18+; 72% of Persons 35+; 73% of Persons 18-49; and 74% of Persons 25-54.
Total Gross Impressions:
Network Radio Overall: A 25-54: flat (- 0.7 %) A 18-49: flat (- 0.8 %)
ABC: A 25-54: slight decrease (- 1.6 %) A 18-49: slight decrease (- 1.9 %)
PRN: A 25-54: slight increase (+3.6) A 18-49: slight increase (+3.8%)
WW1: A 25-54 down (-6.7%) A 18-49 down (-6.7%)
AURN: A 25-54 down (-5.3%) A 18-49: down -6.3%
DG: A 25-54 down (-1.5%) A 18-49: down -3.3%
CMN: A 25-54 down (-6.5%) A 18-49 down -7.8%
JMA: A 25-54 up (+58.3%) A 18-49 up +63% (due to introduction of two new networks)
Changes: Of the 56 networks reported in RADAR 94, two are new this quarter (JMA's Adult Power and Female Perspective). Nine RADAR networks increased; 44 RADAR networks decreased; three were not trendable--(A 18-49). 11 RADAR networks increased, 42 RADAR networks decreased, three were not trendable--(A 25-54). JMA dropped TWC and debuted two new networks to replace it. Adult Power takes # 1 spot with P 12+ and A 25-54.
Highlights: Premiere's Diamond, Emerald, Pearl and ABC's Select Market posted the largest increases. Westwood's WON II, WON III, WFM Day and WFM Weekday posted the largest decreases.
| See the rankers here |
Interep and Focus 360 form "Interep Local Focus"
Interep and Focus 360 announced that they have entered into a joint marketing agreement, effective 10/1, whereby Interep will commence national representation of all current Local Focus clients. Interep has named SVP/Regional Sales Executive (Atlanta) Kay Olin president of the new entity, to be called Interep Local Focus. The new division will retain the existing sales and marketing staff and continue to provide national representation for station groups in small to mid-sized markets with national billings under 500,000. Mike Walsh, President/COO of Interep, said, "Through our new agreement with Local Focus, Interep will now be able to better serve the specialized needs of clients in small to mid-sized markets, bringing more national dollars to the local level. There is a strong desire among advertisers to engage consumers within their communities, and this requires a knowledgeable sales staff with the time and expertise to properly market these local stations and their assets."
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NAB Daytime Planner
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The following will be attending the NAB.
Call or email to make your
appointment in advance.
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BANKERS
Peter H. Ottmar; Dover Capital Partners, LLC; Westin Charlotte; 401/723-1063 x103; cell 401/639-4958; [email protected]
Jacob J. Barker; Barker Capital; Hilton Charlotte City Center; (212) 332-4312; [email protected]
Brian Eick/Dave Meier; The Gladstone Companies; Omni Charlotte Hotel; Brian cell 847-612-3002, Dave cell 847-650-1735; [email protected], [email protected]
BROKERS
Todd Fowler/David Reeder; American Media Services; Westin Charlotte; 843-972-2200; [email protected]; [email protected]
Cliff Gardiner; Clifton Gardiner & Co.; Hilton Charlotte City Center; 303-758-6900; [email protected]
Andy McClure/Erick Steinberg, The Exline Company, Westin Charlotte, office 415-479-3484, Andy cell 415-497-3855, Erick cell (415) 209-4890, [email protected]. [email protected]
Frank Boyle; Frank Boyle & Co.; Residence Inn Charlotte Uptown; 203-969-2020; cell 203-249-7818;
[email protected]
Gordon Rice; Gordon Rice Associates; 843-884-3590; Westin Charlotte; [email protected]
John L. Pierce/ Jamie Rasnick; John Pierce & Company LLC; office 859-647-0101, John cell 859-512-3015; Jamie cell 513-252-1186, Westin Charlotte; [email protected]; [email protected]
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Dick Kozacko/George Kimble;
Kozacko Media Services; office 607-733-7138; cell 607-738-1219; Westin Charlotte; [email protected]; [email protected]
Media Services Group; Westin Charlotte; www.mediaservicesgroup.com
Elliot Evers/Greg Widroe/Brian Pryor/Patricia Carberry-Harris;
Media Venture Partners;
415-391-4877; Hilton Charlotte City Center;
[email protected]
Larry Patrick/Susan Patrick/Greg Guy/Todd Wirth; Patrick Communications; 410-740-0250; Westin Charlotte; [email protected]
Glenn Serafin; Serafin Bros., Inc.;
office 813-885-6060; cell 813-494-6875; Westin Charlotte; [email protected]
Bill Schutz; Schutz & Company; Westin Charlotte; office 757-258-8740, cell 757-880-9251; [email protected]
Zoph Potts; Snowden Associates; Omni Hotel; office 252-940-1680, cell 252-717-3772; [email protected]
CONSULTING ENGINEERS
Richard Mertz, Dan Ryson; Cavell, Mertz & Associates, Inc.; Main Office 703-392-9090; [email protected]
TRAFFIC SYSTEMS
Shane Harris/Susie Hedrick; Marketron Broadcast Solutions; Booth #530; www.marketron.com; 208-788-6800; [email protected]; [email protected]
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| Media Business Report TM |
EchoStar makes one move, contemplates another
Satellite MVPD EchoStar, owner and operator of the Dish Network, has picked up Sling Media, known primarily as the maker of Slingbox, which allows consumers to access their own living room television set from anywhere in the world where there is internet access. The price is 380M in cash and EchoStar options. "With today's increasingly mobile lifestyle, EchoStar's acquisition of Sling Media will allow us to offer innovative and convenient ways for our customers to enjoy their programming on more displays and locations, including TVs, computers and mobile phones, both inside and outside of the home," said EchoStar's Charlie Ergen. "This combination paves the way for the development of a host of new innovative products and services for our subscribers, new digital media consumers and strategic partners." The company is also considering a split into two separate entities, with The Dish Network becoming a standalone entertainment provider while satellite and technical infrastructure businesses would be spun off. Ergen said the move would allow each segment of the business to better pursue their separate strategies. The company is said to be exploring tax implications of such a move.
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| Media Markets & Money TM |
AM triple-header in Austin
Jose J. Garcia is involved in somewhat of a yo-yo deal in the Austin market. After selling a two-AM, two-FM cluster to Thomas Castro's Border Media Partners back in 2005, he is now in a deal to acquire three FMs from his previous trading partner. He'll be getting KELG-AM, KOKE-AM & KTXZ-AM from Border. The latter two stations were in the original 19M deal. According to Patrick McNamara of American Media Services, who brokered the immediate transaction, the price for the three AMs is 5.5M.
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| Washington Media Business Report TM |
 Legislators push FCC
for minority task force
Hilda Solis (D-CA) fired off a letter to FCC Chairman Kevin Martin and his 8th Floor FCC colleagues requesting formation of "an independent task force to examine proposals to increase minority ownership" before engaging in any further rulemaking in the media ownership arena. "A minority ownership task force is needed because the number of minority media owners is shamefully low and has been neglected by the FCC for far too long," she wrote. "The FCC has simply failed in recent years to address this disparity in minority ownership According to studies conducted by the nonprofit, nonpartisan group Free Press, people of color own just 3% of all local TV stations and 8% of all local radio stations, even though they make up 35% of the U.S. population. These studies also found that minority owners are less likely to operate a station in more concentrated broadcast markets." She added, "The FCC cannot allow new media ownership rules to move forward and further potential consolidation to occur without first addressing minority ownership issues." According to reports, Solis' efforts were echoed by Sen. Bob Menendez (D-NJ) and Rep. John Conyers (D-MI).
RBR observation: Martin has advocated the leasing of DTV multicast side channels to minority programmers, and numerous proposals are out there to restore the old minority tax credit that used to apply to certain broadcast transactions. Commissioner Michael Copps (D) has often called the minority ownership situation a national disgrace. We're not sure what exactly can be done legally about this, but look for this issue to become a heat-seeker if a Democrat takes over the administration in 2009.
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| Entertainment Media Business Report TM |
New John Hockenberry morning show
WNYC Radio and Public Radio International (PRI) today announced that Emmy and Peabody Award-winning journalist John Hockenberry will host a new drive-time morning news program set to launch in early 2008. A second host will be announced at a later date. The show marks John Hockenberry's return to his roots in public radio. The program will officially launch in early 2008, but will make its debut through a series of four Election 2008 specials.
Morey launches new Latin music station in LI
The increasing popularity of Salsa, Merenque and other Latin-inspired music has found a new home on Long Island, as the Morey Organization launches Long Island's first Hispanic radio station, WBON 98.5 FM - La Nueva Fiesta. The station will offer music by such Latin superstars as Shakira; Aventura; Daddy Yankee; Marc Anthony; Don Omar; Juan Luis Guerra; Frankie Negron and Gloria Estefan, among many others.
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| Ratings & Research |
 The O.J. nostalgia tour,
coming to a cable system near you
The Project for Excellence in Journalism news coverage chart for the week of 9/16/07-9/21/07 had a familiar name on top of the list. O.J. Simpson found a way to get on top of the news cycle these many years after his trial for murder back in 1994. This time he's accused of armed robbery in a dispute over some sports memorabilia. But the coverage of this event, which led the week overall with 13% of media attention, was far from even. And if you guessed that cable news outlets drove the coverage, you'd be correct -- they gave the story a full 33% of their news hole. By contrast, on radio the sordid saga was #5/4%, and it got an even bigger yawn from newspapers, at #10/2%. On the Iraq policy front there was some ongoing discussion of the Petraeus report, fueled in part by a sideshow involving a MoveOn.org ad in the New York Times, but at 5% overall, it was way down from the previous week's 36% blanket coverage.
| Top ten lists here |
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| Engineering Business Report TM |
HD Radio now on 1,500 stations
iBiquity Digital announced the 1,500th HD Radio station has gone on the air: Clear Channel's rock station WROV-FM 96.3 in Roanoke, VA. "We welcome WROV to our rapidly growing HD Radio family," said Bob Struble, iBiquity CEO. "In just under a year, an additional 500 stations have upgraded to digital HD Radio broadcasting. That's more than one a day. This growth can be attributed to the strong commitment not only of the radio broadcasting industry but also of consumer electronics leaders like Sony, JVC and Apple, as well as major national retailers such as Wal-Mart, Best Buy, Circuit City and others."
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| Transactions |
225K WNWF-AM Fort Walton Beach FL (Destin FL) from Flagship Communications Inc. (Keith Vanover) to Andala Enterprises Inc. (John Ralls). 215K at execution of contract, 10K in advertising credit to seller at 10 dollars per spot. [File date 9/7/07.]
70K. WMRL-FM Buras LA from White Dove Fellowship (Michael Mille) to New Orleans Quality Radio Inc. (W. Christopher Beary, Joseph A. Kunstler). Cash. Noncommercial station. [File date 9/6/07.]
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| Stock Talk |
Driving in both lanes on Wall Street
That'd be the black lane on the good side of the dividing line, and the red lane on the bad side. It seems comsumers are depressed, and when they're depressed so are stocks, oftentimes. But the consumer blues were mitigated by other factors, leading to a mixed bag generally that carried over to broadcast issues. However, on its merger approval, Clear Channel rose 29 cents and cleared the 37 dollar hurdle.
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| Radio Stocks |
Here's how stocks fared on Tuesday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron
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ARB
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45.69
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-1.56
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Google
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GOOG
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569.00
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+0.98
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Beasley
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BBGI
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7.17
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+0.06
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Hearst-Argyle
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HTV
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25.65
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-0.35
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| CBS CI. B |
CBS |
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30.81
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-0.05
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Journal Comm.
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JRN
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9.70
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-0.52
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| CBS CI. A |
CBSa |
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30.84
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-0.02
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Lincoln Natl.
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LNC
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64.33
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+0.23
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| Citadel |
CDL |
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4.14 |
-0.07 |
Radio One, Cl. A
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ROIA
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3.65
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-0.11
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Clear Channel
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CCU
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37.05
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+0.29
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Radio One, Cl. D
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ROIAK
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3.66
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-0.14
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Cox Radio
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CXR
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12.93
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-0.17
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Regent
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RGCI
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2.61
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-0.06
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Cumulus
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CMLS
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10.40
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unch
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Saga Commun.
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SGA
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7.26
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+0.09
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Debut Bcg.
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DBTB
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1.01
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unch
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Salem Comm.
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SALM
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8.21
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-0.19
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Disney
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DIS
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34.07
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-0.25
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Sirius Sat. Radio
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SIRI
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3.28
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-0.02
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Emmis
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EMMS
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5.35
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-0.20
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Spanish Bcg.
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SBSA
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2.57
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+0.03
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Entercom
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ETM
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19.28
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-0.28
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SWMX
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SMWX
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0.09
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+0.05
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Entravision
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EVC
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9.42
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+0.01
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Westwood One
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WON
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3.07
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+0.09
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Fisher
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FSCI
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49.22
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+0.44
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XM Sat. Radio
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XMSR
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13.52
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-0.17
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Bounceback
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 We want to
hear from you.
This is your column, so send your comments and
a photo to [email protected]
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Below the Fold
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Ad Business Report
RADAR 94 rankers
Marks an increase in sample size to 180,000 diarykeepers...
Media Business Report
EchoStar makes one move
Contemplates another has picked up Sling Media, known primarily as the maker of Slingbox...
Media Markets & Money
AM triple-header in Austin
Jose J. Garcia is involved in somewhat of a yo-yo deal...
Washington Media Business Report
Legislators push FCC
For minority task force which Martin has advocated the leasing of DTV multicast...
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Stations for Sale
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Florida Resort FM
Immediate ownership opportunity; partner retiring. Sale or equity investor, terms available. Rated market, high growth area. Excellent facility. Meet at NAB/Charlotte
E-mail: [email protected]
3 Station SW Cluster
Excellent 2 owner market.
Priced to Sell. [email protected]
(303)758-6900
NewEng Collegetown FM
Highly profitable AC station w. Red Sox rights, owned tower, only signal in market. Asking 8.5x trailing BCF: 950K. Inquiries 781-848-4201 or
e-mail: [email protected]
WEB: radiostationsforsale.net
 Market your Stations For Sale
in our daily epapers.
Contact
June Barnes
[email protected]
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Radio Media Moves
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Matt Mallon named GSMC Chairman
 KABC LA General Sales Manager, Matt Mallon has been named Chairman of Southern California Broadcasters Association's General Sales Managers Council. "The Chairman of the GSM Council is a challenging role," said Mary Beth Garber, SCBA President. "It calls for people with outstanding leadership skills to lead people who are all leaders themselves. Matt will bring a fresh perspective to the role in a time of change and challenge. Our thanks to Jeff Thomas, VP of Sales for Clear Channel/LA, who has served for the past two years and has overseen an updating of the SCBU curriculum and the initial preparations for a market wide position on PPM."
Harris names Tim Anderson FM/Digital Product Line Manager
 Harris Corporation has named broadcast industry veteran and HD Radio expert Tim Anderson as FM/digital product line manager for the Transmission business at Harris Broadcast Communications. His experience includes working as an HD Radio specialist to stations, and assisting in the development of HD Radio transmission and receiver products for manufacturers. He has served as a broadcast engineer for iBiquity Digital.
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TVBR - TV News
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DTV milestone, millstone
Ed Markey (D-MA) noted that 9/25/07 marked the 20th anniversary of the push toward digital television. It was in September of 1987 that he held a hearing on HDTV and spurred the FCC and Congress to move toward a digital rather than an analog future. As the project rapidly nears fruition, however, he fears lack of consumer education may put the DTV transition at risk. "In 1987," he wrote, "the debate among policymakers was about facilitating the transition from traditional TV to high definition analog TV. After spurring the FCC to endorse digital technology instead of analog for the future of broadcasting, the DTV transition is now fully underway." Expressing his worries about a seamless transition, he added, "Unfortunately, the DTV transition picture I see today is fuzzy at best. I fear that far too few consumers know about the February 17, 2009 analog cut-off and the steps they must take to watch free, over-the-air television after that date. If we are going to make sure that millions of Americans don't see their perfectly functional analog televisions go dark, Congress needs to start getting better reception from the parties who are responsible for making sure this digital transformation is a success." Markey's subcommittee has two hearings on the topic on the schedule, on 10/17/07 and 10/31/07.
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RBR Radar 2007
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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Executive Comment
Rock (or is it Roll) to
(NAB President) David Rehr
It's about broadcast radio remaining the Dashboard Dominator. True NAB will be forced to repudiate all the hyperbolic praise related to the HD radio roll-out. After all, unlike Sirius and XM, Ibiquity didn't do such a great job of super-charging market penetration by cutting lucrative equity deals with OEM's. And why when offered the opportunity, didn't Bob Struble and his many radio company investors just give Steve Jobs a fee-free license to include HD radio reception...
RBR observation: Some times it has to be said and by someone other than RBR. We let broadcasters speak and this Open Letter to NAB's Rehr worth another to Radio's competitive future and the future is NOW. Take a read in this special page report.
09/25/07 RBR #187
Gloomy forecast for Charlotte
That's not the weather outlook, which is pretty sunny for this NAB Radio Show week, but Bank of America analyst Jonathan Jacoby sees "no sunny days for radio." The data he has gathered indicates that August sales were worse than expected in large markets, so he's expected the month industry-wide to come in down 1%. CL King analyst Jim Boyle is even more pessimistic. He thinks August will be down 2%. Boyle at CL King is seeing a continuation of the trend he's tracked for months of small markets generally doing better than large ones. But he notes in his latest report that the long-time weakness in the top 25 markets seems to be spreading to mid-markets as well.
RBR observation: It's not all gloom and doom. We expect to see lots of happy, prosperous small market owners in Charlotte. Those markets where the rare agency buy is pretty inconsequential have held up well as their brethren in markets where CPM-type buys occur every day have suffered. The answer, of course, is to escape from negotiations based strictly on ratings and cost-per-point and sell based on the results that your station delivers to happy advertisers. Easier said than done - and each layer of people between the station sales staff and the ultimate decision maker for the advertiser just makes it that much harder. That's why mom and pop radio is still fun and rewarding, if increasingly rare.
09/25/07 RBR #187
Harman buyout blows up
Kohlberg Kravis Roberts and GS Capital Partners VI fund say they are walking away from their eight billion bucks deal to take Harman International private. They claim the current credit crunch is not to blame, but rather that a material adverse change in Harman's business has occurred, which means they are no longer obligated to complete the buyout.
RBR observation: Investors have good reason to be worried about whether private equity firms will be able to make good on their buyout deals. Financing of mega deals is very tough right now and if the equity guys can find an excuse to slip out of a hard-to-finance deal, they are likely to take it. It still looks like the Clear Channel and Cumulus Media buyouts are solid, and Hearst Corporation certainly has the wherewithal to fund its proposed buyout of the public shareholders of Hearst-Argyle. But new radio or TV deals in the Billions or Hundreds of Millions aren't likely to take place for a while.
09/24/07 RBR #186
Retailers back merger,
watchdog yawns
RadioShack, Circuit City and Crutchfield have come out in favor of the proposed merger of satellite radio competitors XM and Sirius. The DARS duo touts this as clear evidence that the merger would be good for consumers, earning a rousing "Huh?" from an interested watchdog group.
09/24/07 RBR #186
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