Welcome to RBR's Daily Epaper
Volume 25, Issue 5, Jim Carnegie, Editor & Publisher
Wednesday Morning January 9th, 2008

Radio News ®

Low hopes for Emmis
Emmis reports its fiscal Q3 results this morning and the company's badly battered stock price indicates that investors aren't expecting any good news. Analyst Jonathan Jacoby at Bank of America says his checks have found business still sluggish, particularly in the top three markets. Emmis, of course, is heavily dependent on its radio stations in New York, Los Angeles and Chicago, but Jacoby notes that CBS Radio and Clear Channel are also at risk because of that big market weakness. The analyst calculates that Emmis gets 67.1% of its domestic radio revenues from the top three markets, with CBS Radio at 35.4% and Clear Channel 21.1%. Jacoby says his sources also indicated even greater than expected weakness for the Emmis stations in Los Angeles and NYC. He figures fiscal Q3 (September-November) domestic radio revenues for Emmis were down 5.6% and he is modeling fiscal Q4 (December-February) at minus 6%.

New CEO named
for Westwood One

Westwood One announced late yesterday that its board of directors had named Thomas Beusse President and CEO of the company. Beusse, formerly President of Time Warner's enthusiast magazine division, Time4 Media, has also joined the board of directors. "Tom is an experienced media executive with a strong track record of revenue growth and effective leadership at companies ranging from Fortune 500 to start-up organizations. A creative and strategic thinker, Tom is the ideal executive to lead Westwood One as the company continues to evolve as a top provider of content to the broadcast industry and beyond," said Westwood One founder and Chairman of the Board Norm Pattiz. Beusse succeeds Peter Kosann, who had announced that he would leave as Westwood One prepares to dissolve its deal to be managed by CBS Radio. Kosann is a CBS employee. Beusse comes from a magazine publishing and ad sales background, largely in sports titles. "I have been very fortunate in my career to have worked on some of the most notable brands in media. Westwood One has long been among the most revered brands in broadcasting, and I look forward to using the internet and other evolving digital technologies to improve our current leadership position and ensure the brand's relevance well into the future," Beusse said of his new job.

Radio stocks could fall 15-30% this year
That's the warning to investors from analyst Lee Westerfield at BMO Capital Markets. After seeing the RAB report that November radio ad revenues were down 7% (down 6% including NTR), Westerfield has lowered his Q4 revenue and EBITDA estimates for Emmis, Clear Channel and CBS Radio. And he isn't stopping there - also cutting his expectations for 2008 and 2009.

"In our view, plummeting ad rates in Q4 will put 2008 and even 2009 at risk; historically, ad rate levels have been regained only gradually after contraction (true from 1991 to 1994 and 2001 to 2003). This ad-rate-contraction scenario reflects the elasticity of ad prices - we estimate that as marginal demand contracts, radio ad rates will fall by 3-4% over the coming six months, and not recover to current levels for 18 months," Westerfield said in a research report to clients. He is projecting that radio ad sales will drop 2% in 2008. He also doesn't see any more bids to take out public radio companies and go private in the current lending environment. Furthermore, he notes that Emmis and Regent are both in danger of breaching senior debt covenants. Each can sell assets to remedy that, but Westerfield warns that such sales would be at "fire sale" levels. With all those negatives, he sees a danger that radio stocks, which already fell significantly in 2007, could drop another 15-30% in 2008.

RBR observation: Just look at Citadel if you want to see what happens when a selling frenzy feeds on itself. The stock was down 72.5% last year - and has fallen even more this month. A potential US recession and continued bad reports on radio ad sales could send radio stocks tumbling even more than they have already. Is there any good news on the horizon to counter this trend?


Phase uno: 1M applications
Hispanic broadcasters Univision and Entravision have been active participants in a major effort to add Hispanic immigrants first to the rolls of naturalized US citizens, and then onto the voter registration lists. Along with the Nation Association of Latino Elected Officials (NALEO), the consortium says it has inspired over 1M immigrants to seek citizenship, and now its hitting the airwaves to move them into the electoral process. "Univision is deeply committed to leveraging its media assets to reach and mobilize U.S. Hispanics," said Univision 2EVP/Chief Strategy Officer Cesar Conde. "We are proud of the tremendous results of the campaign thus far and will continue to educate, inform and empower Hispanics to increase their participation in the electoral process."

RBR observation: This effort could resonate strongly at the ballot box in states such as Florida, New Mexico, Colorado, Nevada, as well as in parts of California and Texas. And it could also induce the sound of ringing bells, the kind attached to cash registers, at Hispanic media outlets in all such areas. Univision and Entravision can point to the effort as a demonstration of their commitment to serving the public interest of their constituency, and at the same time enjoy seeing the benefits of that very same effort in the bottom line.

Martin mention gives glimmer of hope to XM/Sirius
FCC Chairman Kevin Martin didn't reveal his hand on the fate of the proposed XM/Sirius merger, which is still in the hands of the DoJ (the FCC must also sign off on it), but he may have tipped his cards a bit. Speaking at CES in Las Vegas, Martin praised the satellite audio offer to provide an a la carte menu option for subscribers in the event that the merger is approved. According to Bank of America's Jonathan A. Jacoby, Martin said that no FCC decision has yet been made on the merger -- but he does like the a la carte concept, a regimen he has strongly advocated for cable systems. Jacoby noted that any positive was a good thing for the satellite services, but remained neutral on the prospects of the merger going through. He said that we haven't even heard from DoJ yet and suspects that the senior residents of FCC 8th Floor has yet to "dig their teeth in," and further speculated that even if the DoJ and FCC do grant approval, the devil would be in the details of the restrictions almost certainly to be imposed. And even IF conditions are minimal, Jacoby continues to have doubts.

RBR observation: Can we get off of a la carte at some point? The value of an MVPD is its ability to deliver a wide variety of programming at a very low cost per service. The first thing a la carte does is drive the cost per channel through the roof; and if a la carte is for some reason widely adopted by consumers, the next thing that will happen is that niche, minority and special interest programming will be driven into bankruptcy. The preferable method of protecting children from off-color or otherwise objectionable material is channel blocking technology, which is readily available and easy to use on MVPD services.

Women's media confab
scheduled for March

FCC Commissioner Deborah Taylor Tate (R), pictured, will headline a conference examining the role of women in the media pegged for National Association of Broadcasters headquarters in Washington. It's on the schedule for 3/13/08. "Our goal should be to promote diversity at all levels of media: in the boardrooms and the control rooms alike," said FCC Commissioner Deborah Taylor Tate. "We need to see more women in broadcasting who are making decisions, making deals, and truly making history." The NAB Education Foundation (NABEF) and American Women in Radio and Television (AWRT) are co-hosting the event. NAB President/CEO David K. Rehr said, "This is an excellent opportunity for educators and female media executives to come together and discuss the vital role that women play in media. The idea was spearheaded by FCC Commissioner Deborah Taylor Tate, and we are proud to co-host the event with AWRT." The event is tied to NAB's Annual Leadership Conference, which runs from 3/13/08-3/15/08, and will be held at the Hilton Washington Embassy Row.


Media Business Report TM
Quick, name the four biggest US phone companies
If your list didn't include Comcast, you are behind the times. The cable MSO announced that its Comcast Digital Voice, officially launched less than three years, has propelled it to the point where it is now the fourth-largest residential phone service provider in the country. "Our rapid rollout of advanced services like Comcast Digital Voice has enabled us to transform Comcast into the only company in the US to offer integrated video, high-speed Internet and phone services to more than 40 million households," said Comcast Chairman and CEO Brian Roberts. Comcast's announcement didn't name the three who still outrank it in the residential phone biz, but they appear to be AT&T, Verizon and Qwest. Comcast has bumped Embarq, spun off in 2006 from Sprint Nextel Corporation, from the #4 spot.


Ad Business Report TM

Twin Star names management team
Twin Star, the new DC-based based broadcasting, new-media and ad firm, announced the hiring of their new senior management team. Lisa Wynne, Laura Bacchus, Leslie Savary and Tod Castleberry will be heading the new endeavor under CEO Sima Birach, Jr. Lisa Wynne has been hired as the company's Chief Marketing Officer. She's the former CEO of Evolve Marketing Group, a San Diego-based marketing and ad firm with a second office in DC. Lisa will be heading up the marketing for Twin Star and serve as Creative Director for their advertising division, set to launch this spring. Laura Bacchus joins the team as Chief Strategy Officer. She most recently co-founded and led Cord Caruso Capital Partners, a growth strategy consultancy based in DC. Leslie Savary, CPA, joins Twin Star as VP/Finance. As previously announced, Tod Castleberry joins the team as COO. The new execs join Twin Star on the heels of the exit of Bennett Zier and Jeff Wyatt. Both were terminated in October. Twin Star has leased space in the Tysons Corner area where they are currently building studios and creative space.

JWT BOOM unveils 4th Boomer Trend Monitor
Boomers are the largest demographic segment of the population today. The 78 million Boomers spend about 2 trillion annually, and due to shifting demographic patters, many marketers who have traditionally focused their efforts on 30- to 44-year-olds are turning their focus to the Boomer market. JWT BOOM, in partnership with BoomerEyes/C&R Research, has released the fourth annual Boomer Heartbeat - the annual trend monitor that explores Boomers and their life stages -- today and as they evolve in the coming years. The number of people aged 50-64 will increase by 8.1 million, while the number of 30-44 year olds will actually shrink to 2.7 million. This shift has broad implications for the economy, as well as individual businesses that need to accommodate this age wave. A sizable proportion of Boomers is very new to the Empty Nest lifestyle, and so is experiencing a time of great change and new opportunities. While about one-third of Empty Nesters are sad that their children have left the home, the majority cite freedom, more time for themselves and the opportunity for closer relationships with their spouse as the benefits of Empty Nesting.

Like Gen Xers and Matures, Boomers are using the Internet and their computers for a wide variety of needs. At the top of the list is email, which is nearly universal. Online shopping appears to be the norm as well, with about 7 in 10 consumers shopping from the convenience of their home. As Boomers age and health-related issues become more common, nearly three-fourths are seeking health-related information online. In addition, about half of all Boomers are playing games and downloading pictures. Downloading music and dating are far less common. And while 32% of Boomers are visiting online communities, blogging is far less common, with only one in ten Boomers having ever blogged. Work plays a major role in the lives of most Boomers, as approximately two-thirds of them are still working. Among Boomers that are employed, 75% work full-time, 18% part-time and another 5% are working in a more limited capacity. Although most are still working full-time, as a group they are transitioning into the next phase of their lives. As a result, a new category of work is emerging for Boomers in their late 50s and beyond - working while in retirement. While last year Boomers were generally more pessimistic about their debt and retirement savings, this year's study indicates that their outlook has improved, with those perceiving that their retirement savings is above average having increased from 13% to 18%.


Media Markets & Money TM
One in a McMillion
Greggory M. McMillion's Macknificent Broadcasting is scoring an FM in the Fresno market. KVPW-FM, which reaches the city from its Kingsburg CA city of license, is coming from Pro-Active Communications-Fresno, headed by Gerald D. Clifton. Brett Miller of MCH Enterprises brokered the 4.6M transaction. Miller says McMillion is getting into ownership in his home town; his backers have broadcast interests in Spokane WA.


Washington Business Report TM
NAB supports FM translators for AM stations
The National Association of Broadcasters reminded the FCC that AM broadcasters are often among the most locally-oriented stations of a locally-oriented medium, but that many are technologically-challenged by their very licensing parameters and the physical characteristics of their slice of the spectrum. It therefore filed in support of allowing AM operators to fill in coverage holes and to cover twilight and nighttime hours with FM translators, allowing better service to their communities in general and particularly in times of emergency. NAB noted that such a move would serve the goal of broadcast diversity. 2.45K owners control 4.8K stations, an average of about only two per customer, with many of them being standalone operations. Additionally, 154 owners are members of a minority group and 161 are female, accounting for 438 AM stations. With this in mind, the proposal has the support of minority organization such as MMTC, NABOB and others. NAB also supports the idea of allowing AM stations to rebroadcast over LPFMs under certain conditions, a proposal which LPFM organization Prometheus Radio Project opposes but which NAB says many actual LPFM operators support. Allowing AM daytimers to use translators to originate night broadcasts would be a boon to 1125 stations, said NAB, and added its endorsement to the tentative FCC conclusion to allow the practice.


Entertainment Business Report TM
Beasley gets religion
Beasley Broadcast Group's WNCT-AM Greenville-New Bern-Jacksonville, NC changed its format this week from Talk to Contemporary Christian. The station is now known as "New Christian Radio 1070 WNCT," featuring today's Christian music with just the right blend of listeners' favorites.


Internet Business Report TM
CBSNews.com to feature Digg content
CBSNews.com has teamed up with Digg, the leading community-driven news and content sharing Web site, to add political news and analysis from across the Web to its coverage of "Campaign '08." The CBSNews.com audience gains access to political content that has been submitted and highly rated by Digg's engaged community of users. Throughout the primary and general election, headlines from campaign and candidate-related stories discovered and chosen by Digg's audience will be featured on CBSNews.com. The site will also feature Digg buttons alongside articles and videos, making it easy for its audience to submit and rate Digg content. The Digg community will be exposed to some of CBS News' most compelling "Campaign '08" video content on Digg.com, including "From the Road" coverage by a CBS News team of reporters traveling with the candidates and the exclusive "Primary Questions" video series where candidates are asked character- and leadership-revealing questions.

70% solution?
Internet marketing firm Prospectiv's 2007 Consumer Packaged Goods Survey claims that 70% of its poll respondents do research on such goods prior to heading to the supermarket. Prospectiv says 27% utilize e-Newsletters, 25% use general search tools, 14% look for general savings and shopping sites, and 14% head for brand-specific sites.

RBR observation: The Prospectiv release didn't mention how many people it surveyed, but 70% for items you might find in a grocery store seemed a little high to us, who spend enough time already brokering and negotiating weekly menu between the household members (with the faithful dog invariably backing those entrees most likely to generate a significant scrap fallout). Once that's done, we let recipes and habit dictate the rest. With this skepticism in mind, we did an informal poll of our Washington office, and found that 33% regularly check grocery store sites for information on sale items and coupons, 33% does so "rarely" and 33% falls into the "never" category. It is our belief that the Internet is a frequently-used tool when researching high ticket or hobby/leisure items, but we find it hard to believe that 70% of Americans are spending large amounts of time researching their next grocery trip.


Ratings & Research
Sen. Mitchell on steroids is big draw
Of course, former Sen. George Mitchell wasn't taking steroids, he was talking about steroid use in Major League Baseball after conducting an investigation for MLB. His December 13th press conference drew large audiences for Sports Talk stations. In New York, Arbitron reports that its PPM panel recorded big gains for both WFAN-AM and WEPN-AM as they broadcast the 2:00 pm news conference live. The peak hourly AQH audience of 90,200 Men 25-54 for WFAN-AM during the 2:00pm-3:00pm hour was three and a quarter times greater than the average 2:00pm-3:00pm AQH audience for Men 25-54 of 27,600 for the preceding twelve Thursdays. The peak hourly AQH audience of 43,100 Men 25-54 for WEPN-AM during the 2:00pm-3:00pm hour was three times greater than the average 2:00pm-3:00pm AQH audience for Men 25-54 of 27,600 for the preceding six Thursdays.
| See the stats |

CBS Radio improves ratings in NYC year over year
CBS provided some performance highlights for the Fall 2007 Arbitron survey released yesterday. CBS Radio's NYC cluster year to year gains show P12+ is up 24% with share increasing from 13.5 to 16.7 AQH. P25-54 is up 21% with share increasing from 13.1 to 15.9 AQH.

102.7 Fresh had its strongest book in all female demos:
W18-34 YTY jumped 318% from 1.1 AQH 17th place to 4.6 AQH 6th place
W18-49 YTY jumped 161% from 1.8 AQH 15th place to 4.7 AQH 7th place
W25-54 YTY jumped 119% from 2.1 AQH 14th place to 4.6 AQH 6th place
WCBS-FM year to year P12+ jumped 76% from 2.1 AQH 17th place to 3.7 AQH 6th place. YTY with P25-54 increased 17% from 2.9 AQH 12th place to 3.4 AQH 9th place.

KRock year to year, compared with the defunct Free FM format, rock posted impressive gains in the targeted male demos:
M18-34 YTY jumped 58% from 3.3 AQH 9th place to 5.2 AQH 5th place
M18-49 YTY jumped 39% from 2.8 AQH 13th place to 3.9 AQH 5th place
M25-54 YTY jumped 19% from 2.6 AQH 14th place to 3.1 AQH 10th place
Opie and Anthony led the station placing #1 English language Men 18-49 and Men 25-54.

WFAN gains in all male demos in Fall book
WFAN-AM NY posted strong results in the recently concluded Fall survey (9/20-12/12) as reported by Arbitron. Year to year, the station secured across the board gains among all male demographics and handily increased its lead over the market's similarly formatted station. In afternoon drive, Mike and the Mad Dog is the top rated show among Men 25-54 with a share (6.9) 15% ahead of its closest competitor; In its first full Arbitron survey, WFAN's new morning drive show featuring Boomer and Carton (6:00-10:00AM) finished 6th with a 3.9 share among Men 25-54 marking the station's highest share in morning drive since Spring 2004. Additionally, WFAN ranked 3rd in the time period in the above mentioned male demo with total cume and improved their performance by 26% from a year ago. Among the younger male demos (Men 18-34 and 18-49), the station is also seeing a huge increase in listenership in morning drive, up 58% and 19%, respectively, vs. 2006. For the first time in its history, WFAN was the No. 1 station with Men 25-54 from 7:00PM-Midnight in a Fall ratings survey (6.1 share).


Transactions
500K WAMW AM & FM Washington IN from William A. Green d/b/a Greene Electronics to DLC Media Inc. (David L. Crooks). Promissory note for the entire amount. Crooks has LMAs with WFML-FM & WVUB-FM, both in Vincennes IN. [File date 12/13/07.]


Stock Talk
Stocks take a dive
Economic slowdown talk from the CEO of AT&T and continued worries about the housing and lending sectors sent stocks falling on Tuesday. The Dow Industrials dropped 238 points, or 1.9%, to 12,589.

Almost all radio stocks were down. The RBR Radio Index fell 4.674, or 5.4%, to an all time low of 82.237. Salem was hardest hit, plunging 12.5%. cumulus fell 9.6% and Citadel 8.6%.


Radio Stocks

Here's how stocks fared on Tuesday

Company Symbol Close Change Company Symbol Close Change

Arbitron*

ARB

39.39

-0.55

Google

GOOG

631.68

-17.57

Beasley*

BBGI

5.80

-0.13

Hearst-Argyle

HTV

19.86

-0.18

CBS CI. B CBS

24.38

-0.40

Journal Comm.

JRN

7.95

-0.41

CBS CI. A CBSa

24.32

-0.47

Lincoln Natl.

LNC

53.72

-1.98

Citadel* CDL
1.59 -0.15

Radio One, Cl. A

ROIA

1.89

-0.11

Clear Channel*

CCU

34.01

-1.09

Radio One, Cl. D*

ROIAK

1.89

-0.10

Cox Radio*

CXR

10.59

-0.39

Regent*

RGCI

1.39

-0.01

Cumulus*

CMLS

5.86

-0.62

Saga Commun.*

SGA

6.10

-0.29

Debut Bcg.

DBTB

0.80

unch

Salem Comm.*

SALM

5.02

-0.72

Disney

DIS

30.54

-0.62

Sirius Sat. Radio

SIRI

2.98

+0.04

Emmis*

EMMS

2.47

-0.17

Spanish Bcg.*

SBSA

1.65

-0.09

Entercom*

ETM

11.31

-0.67

Westwood One*

WON

1.63

-0.12

Entravision

EVC

7.17

-0.11

XM Sat. Radio

XMSR

11.45

-0.38

Fisher

FSCI

35.06

+0.04

-

-

-

-

-

*Component of the RBR Radio Index


Bounceback

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Below the Fold
Ad Business Report
JWT BOOM unveils
4th Boomer Trend Monitor...

Media Business Report
4 biggest US phone companies
Name them and if your list didn't include Comcast, you are behind the times ...

Media Markets & Money
One in a McMillion
Macknificent Broadcasting is scoring an FM in Fresno...

Washington Business Report
NAB supports translators
Reminded FCC that AM broadcasters are often among the most locally-oriented stations...




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Radio Media Moves

Double duty in Tucson
Julie Brinks is the new Vice President and General Manager of the Tucson Radio Operations of the Journal Broadcast Group. Diane Frisch is leaving the organization to pursue other interests. Brinks will continue in her current role as Vice President and General Manager of KGUN-TV (Ch. 9, ABC).

On the air
in Miami

Venezuela-born actor, TV and radio host and artist Orlando Urdaneta joins WSUA-AM Miami, Caracol Radio 1260 AM, as part of the afternoon drive show "De Regreso a Casa," starting Monday, January 14th. The show is directed and hosted by Carlos Cataño and the team of comedians is completed with Marisol Correa, Saulo Garcia, Jairo Castro, Eduardo and Gabriel, Ernesto Barrera and Emilio Sejas.

Upped at Dial Global
Dial Global announced David Felker has been promoted to VP/Programming at Dial Global Digital 24/7 Formats. Felker moves up from Managing Director of Programming, overseeing four of the company's eight turnkey formats, as well as programming Mainstream Country. In his new role, he will manage program directors and producers, as well as music scheduling and promotion. Gary Thompson, who until recently shared programming responsibilities with David, announced in December that he will exit, to become PD of Cumulus' KDBN-FM Dallas, although he'll remain as the voice of DG's SAM format, and contribute as a consultant.

Dielectric expands
FM sales force

Dielectric Communications, a division of SPX and a leader in broadcast antenna systems, announced Michael Johnson has joined on as regional sales manager for the western U.S. He'll facilitate sales of the company's FM product line, help customers analyze their system requirements, and provide ongoing customer service and support. Johnson joined Dielectric from Kathrein Scala Division where he held the role of broadcast antenna sales engineer and was responsible for designing and selling custom antenna systems.

From radio to TV
Jennifer Purtan has been named Vice President of Sales for WWJ-TV (Ch. 62, CBS) and WKBD-TV (Ch. 50, CW), the CBS-owned duopoly in Detroit. She will be responsible for overseeing all sales operations, new business development and digital platform sales. Purtan was previously Senior Vice President, Advertising Sales and Marketing, ABC Radio Networks/ESPN Radio.




More News Headlines

Buying the company
bit by bit

After being rebuffed on its buyout bid, Hearst Corporation is moving ahead with its stated objective of boosting its stake in Hearst-Argyle Television above 80%. The latest tally filed with the SEC puts the ownership stake at 74.2%. Since announcing in December that its board of directors had authorized the purchase of up to eight million more Hearst-Argyle shares (12/10/07 TVBR #239), Hearst Corporation has bought up 558,300 shares for just over 12 million bucks. It has made open market purchase of as few as 100 shares at a time (the biggest block was 22,800) and all of the purchases have been at prices below the 23.50 per share that it had offered to buy out the public shareholders and take Hearst-Argyle private. Hearst-Argyle owns 26 television stations, and manages an additional three television and two radio stations. Both of those radio stations and one of the LMA'd TV stations are owned by Hearst Corporation.

RBR observation: We draw your attention to our 13 predictions of things that will happen in 2008 published on Monday (1/8/08 RBR #3). Number 11 reads: "Hearst Corporation will take its ownership of Hearst-Argyle Television beyond 80% and then make a stronger bid to pick up the rest and take the TV company private."



RBR Radar 2008
Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.

Waiting for the green light
Bear Stearns analyst Victor Miller tells clients in a note that the trains are still running toward a closing for the private equity buyout of Clear Channel Communications. He cites the tender underway for 1.3 billion of Clear Channel bonds, that Thomas H. Lee executives have resigned from the Univision board (necessary for making the private equity fund's Univision investment non-attributable at the FCC), that Clear Channel executives have seen the ratings agencies, that Clear Channel executives have met with the Thomas H. Lee investors, and that the Clear Channel TV sale has gotten FCC approval (although it is still up in the air whether the buyer will close. (See more in RBR)
01/08/08 RBR #4

WGA Strike Central, Day 65
Golden Globes awards show
a no-show
With essentially no actors willing to cross WGA picket lines, NBC and the Hollywood Foreign Press Association (HFPA) have pulled the plug on Sunday's gala broadcast of the Golden Globe Awards. What will air instead will be a stripped down broadcast largely produced by NBC News, rather than the entertainment division.

RBR observation: In other words the awards show is a bust in ratings and revenue. But, RADIO has the chance to have fun with this and make money via Talk Radio.
01/08/08 TVBR #4

Nielsen's Presidential TV
Scorecard for New Hampshire

On the eve of the 2008 New Hampshire Presidential primary, Nielsen reported on the total number of TV advertising spots run by the Presidential candidates in New Hampshire and the surrounding markets from 1/1 through 1/4.

TVBR observation: The Nielsen charts and stats truly put into perspective the amount of cash that is being tossed around. This is worth a view in this special page TVBR report.
01/08/08 TVBR #4

What will happen in 2008
We dust off our crystal balls, spread our tea leaves and consult our all-seeing, all-knowing Morse-code tapping click beetle for a glimpse into what's in store for 2008. It is strongly recommended that these lucky 13 predictions NOT be used for capex or station portfolio acquisitions, stock market selections, or any form of personal or government-sponsored wagering. However, they may be safely printed out and used to line a parakeet cage. Off we go then see this report pg in RBR.
01/07/08 RBR #3

Poor November numbers
worry Wall Street
RAB's report of a 6% drop in November radio revenues (1/3/08 RBR #2) has Wall Street analysts predicting that many public companies will miss their Q4 guidance and even more worried about what's coming in 2008.
01/07/08 RBR #3


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