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Volume 23, Issue 7, Jim Carnegie, Editor & Publisher
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Wednesday Morning January 11th, 2006
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TV News ®
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 DTV issues hanging in the House?
Key House member Fred Upton (R-MI) told a gathering at the Consumer Electronics Show that he is aware that a number of big issues in regards to the DTV transition remain unanswered in the reconciled legislation expected to be ratified by the House when it returns to active duty. According to an article in National Journal's Technology Daily, he also feels the issues are not important enough to warrant a special plank on his Subcommittee on Telecommunications and the Internet agenda this year, which figures to be spending a good deal of effort on a rewrite of the Telecommunications Act of 1996. According to the report, the cable industry is much more comfortable with the bill as is than are broadcasters. Left on the table are issues such as provision for a broadcast flag to protect against content piracy, provisions for a consumer education campaign to help pave the way for the transition, a decision on down-conversion of broadcast signals and the highly contentious issue of multicast must-carry.
TVBR observation: Telecom covers a lot of territory, and these issues are all things that could conceivably be considered in those deliberations. However, broadband and telephony issues have dominated the conversations held under that grab bag heading, so Upton has managed to inject even more uncertainty into an already uncertain situation. One way or another, these issues will simply have to be dealt with. Maybe the Senate will bore in - - it's certainly taking a fresh look at the flag issue. Stay tuned.
Multimedia campaign targets Republican reps
Campaign for America's Future and Public Campaign Action Fund are combining their resources, and are taking their case directly to the home districts of a pair of Republican legislators - - Tom Delay (R-TX) and Bob Ney (R-OH). And Sen. Lincoln Chaffee (R-RI) is getting it from both sides. They're using 115K worth of radio, TV, cable and billboards to make their point. In Delay's district in the suburbs of Houston, TV and cable are the media of choice as they pressure the former majority leader to resign. Four Houston network affiliates and four cable news channels are in on the buy. In Ohio, radio is being used to put pressure on Ney in his district east of the state capital of Columbus. A billboard is also being purchased on the Heath OH exit of I-70, literally targeting the rep where he lives. Meanwhile, Sen. Lincoln Chaffee, who is on the Senate Judiciary Committee and will help decide the fate of Samuel Alito, has already been the target of liberal groups. Now, he's getting it from the other side, in the form of a radio barrage from Family Research Council urging him to give the judge a fair hearing.
TVBR observation: Notice that, despite the fact that this story represents a tiny sliver of what figures to be a huge political year, four media categories were able to belly up to the table for some of the action. And size is not necessarily a factor - - if you happen to be located in a hot spot - - notice that today one of them is large, one is small and one is in between - - then it may show up on your traffic list and your bottom line. Like we've been saying, location is everything, especially the way the nation's politics are going.
 Emmis fallout hurts
radio and TV stocks
TV no longer plays a role in Wall Streets's valuation of Emmis Communications - - except for the proceeds to come from the sale of its remaining three TV stations - - but the soft guidance the company gave Monday (1/10/06 TVBR #6) is affecting all broadcast stocks and more Wall Street analysts have reduced their forecast numbers for Emmis. "Fiscal Q4 radio revenue growth guidance of 1-2% is below our 3.3% forecast and signals a weak start to 2006 for the radio industry," noted Marci Ryvicker at Wachovia Securities. She said that while Emmis continues to outperform its competitors in its radio markets, she's concerned that that overperformance gap is narrowing. She also warns that if CEO Jeff Smulyan and his investment team, which includes a financial investment by Emmis, wins the bidding for the Washington Nationals baseball team, it will be negative for the stock. And she wants to see the TV station sell-off completed, which she estimates will bring 310 million for the remaining three stations. So, while not changing her "Market Perform" rating on the stock, Ryvicker has reduced her radio revenue target for fiscal Q4 (December-February) to 65.4 million from 66.2 million and total revenue for the company to 86.4 million from 86.8 million. At Goldman Sachs, analyst Mark Wienkes is also maintaining his "In Line" rating for Emmis. He too sees a successful baseball bid as a bad thing for the stock and has cut his fiscal Q4 expectations based on the company's soft guidance. He's now expecting radio revenues of 65 million, up only 1% over a year ago.
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Analyst warns of double digit drops
in broadcast stocks this year
Most radio and TV stocks were down significantly in 2005, but Harris Nesbitt analyst Lee Westerfield doesn't think the pain is over. He's warning investors that new mobile tech and advertising risks create an equity downside of 15-20% in 2006 for broadcast stocks. That's on top of the losses that almost all radio and TV stocks suffered in 2005. Just back from the Consumer Electronics Show in Las Vegas, Westerfield sees threats from mobile broadband and PC-to-TV video convergence. "Announcements at CES foreshadow events ahead in 2006, such as a) deepening web media partnerships between mobile broadband players and the likes of Yahoo! and Google; and b) launch of Microsoft Vista [new operating system] with its media functionality this coming fall," the analysts said in a note to investors. As such, Westerfield is maintaining his "Negative" rating on the broadcasting sector (although he does like the Hispanic specialists). He expects pure-play radio company values to contract from their current multiples of around 11.5 times EBITDA to 10 times and pure-play TV from 10.5 to nine times.
TVBR observation: Yahoo! and Google have to get their content from somewhere. Google produces zero content of its own and Yahoo! very little. So, while these new players are competitors to broadcast and cable TV, they are also potential outlets for repositioning broadcast and cable content - - producing new revenue streams for broadcasters. Pretty much every network has announced multiple deals in recent months to deliver programming via the Internet or cell phone systems. And there are opportunities for local stations as well. That's why April's annual TVB management conference in New York will be devoted to a single topic: multiplatform opportunities and challenges. Don't count broadcasters out just yet.
 Gulf Coast Broadcasters to be honored
As Hurricane Katrina bore down on the Gulf Coast last fall, TV and radio broadcasters hunkered down to do what they always do - - deliver emergency information to their communities and provide a vital lifeline of information. Little did they know that they would be doing it for months to come. Many broadcasters lost their own homes and possessions to the storm, but they continued to work to help their communities get through the devastation. Indeed, it also brought unprecedented cooperation between broadcasters, as those knocked off the air worked with those still on the air and those on the air helped to get their damaged competitors back on the air. Even today, broadcasters in hard-hit regions of Louisiana, Mississippi and Alabama areas are still providing important information about efforts to rebuild their communities. Now those broadcasters are going to be recognized for their public service efforts before, during and after Katrina at the 8th annual NAB Education Foundation's (NABEF) Service to America Celebration, June 12th in Washington, DC. On hand to accept the Service to America Samaritan Award will be Louise Munson, Louisiana Association of Broadcasters President and CEO; Jackie Lett, Mississippi Association of Broadcasters President; Sharon Tinsley, Alabama Broadcasters Association Executive Director; and Whit Adamson, National Alliance of State Broadcasters Associations President-elect. "At great personal risk, Gulf Coast broadcasters stayed on air and provided critical life-saving information to citizens affected by Hurricane Katrina. Employees lost homes and waded through alligator and snake-infested waters to keep their signal on air and their communities informed. We salute these broadcasters for their heroic service and dedication in response to the worst natural disaster in our nation's history," said NAB President and CEO David Rehr.
TVBR observation: The stories out of the New Orleans area were truly amazing - - and a reminder of why broadcasting is more than just a business. If you didn't get around to reading it, pull out your copy of the November 2005 issue of Radio & Television Business Report for "Vigilance in a time of crisis." If anyone deserves an award, the radio and TV folks in the Gulf Coast do.
 TVB Survey: Local TV has
caught the Internet bug
The growth in local television's online advertising has been exponential in 2005 and the outlook for 2006 projects local online advertising to grow by as much as 39% across local markets, according to a new survey released by TVB. Entitled "Benchmarking the Local Website Marketplace," the survey was commissioned by TVB and conducted by Borrell Associates. Overall, it reveals that during 2005, local television stations "caught the Internet bug," increasing their online ad share an average of two percentage points over the past 12 months. The survey reveals that several stations captured more than 15% of all locally spent online advertising in 2005, and that some station groups are now generating millions from Internet operations.
| Among other findings, the survey reveals |
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Ad Business Report TM
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 Car wars: GM slashes sticker prices
At the Detroit Auto Show yesterday, GM announced nearly across-the-board price cuts on 80% of its models. Starting today, sticker prices will fall on all Chevrolet, Buick and GMCs, and most Pontiac products, allowing GM to step back from the promotions and buyer incentives it used in recent years. An ad campaign is likely to follow. "We are going to be more, let me say, judicious in our use of incentives. And we think this is going to get the focus back on the product," Rick Wagoner, Chairman and CEO, told reporters. "It's a move that dealers want. Hopefully, we can take some of that edge off the boom-bust cycle of sales." "If anything, we weren't aggressive enough," Mark LaNeve, GM VP for North America vehicle sales, service and marketing, told reporters. "Over time, people will perceive that we have the best products at the best prices. That's what we want them to perceive over time." GM's Saab and Hummer lineup were spared the price cuts while at Saturn, only the Relay's price was reduced, reported MarketWatch. A Chevrolet Impala LS will see its sticker price reduced by 1,000 to 20,990, which is lower than a comparable Toyota Camry LE V6 at 23,320, GM said. In the truck market, the Silverado crew cab work truck will see one of the biggest price reductions at 25,490, down from 27,990. That price compares with 31,000 for a F-150 pickup from Ford. The 2007 Chevy Tahoe LS with a V8 will carry a sticker price of 33,900, fully 2,000 less than the 2006 version.
 Search engines claim ad bucks
Advertisers in North America spent 5.75 billion on search engine marketing in 2005, a 44% increase over 2004, according to a report from the Search Engine Marketing Professional Organization. SEMPO projected that this spending in North America will reach 11 billion in 2010. The survey found that Google and Yahoo still command the biggest share of Internet advertising. The annual totals include payments to search engines and search-related media companies, marketing agencies and in-house expenditure in support of such programs, paid placement, paid inclusion, organic search engine optimization and marketing technology platforms, says VNUNet. "This report confirms our belief that search engine marketing has almost single-handedly revived a flagging online advertising marketplace after the stock market crashed in 2000," said Sempo chairman Kevin Lee. "As consumers have become increasingly reliant on search engines to navigate the web, investors have shown a renewed interest in the digital technologies and in search marketing in particular." The bulk of the spending during 2005 was on paid placement, accounting for 83%, or 4.7 billion. While four out of five advertisers engaged in organic search engine optimization, this accounted for approximately 11% of overall spending. Paid inclusion accounted for just 4% of overall spending, and leasing, agency offerings and in-house development accounted for less than 2%. "The data shows that 2005 was a good year for search, but 2006 should be a great year," said Gord Hotchkiss, research committee co-chairman at Sempo. "The growth has largely been driven by maturation in existing segments, but future growth will be fuelled by an increased search presence from major advertisers and new monetization strategies from the major engines. The increased competitiveness in the marketplace will really drive the industry forward in the coming year."
New ad launch for TicketsNow
TicketsNow, the marketplace for premium event tickets, is introducing a new series of radio ads themed on the positive personal experiences associated with having great seats at big events as part of a new marketing push in the competitive online ticket industry. The spots were written and produced by Chuck Blore, winner of more 500 major radio and television industry awards. The recently launched campaign was conceived following the analysis of focus group results and other research that provided insight to the public's attitudes toward desirable entertainment options and the importance of quality seat locations. A total of 12 60-second and 30-second spots of varying tone and style were produced and will be placed in accordance with formats and target demos.
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| Media Markets & Money TM |
Lansing UPN affil gets a big sister
Young Broadcasting, which has the CBS network franchise in the Lansing DMA, will add certain elements of the other Viacom network, UPN, to its local operation via a Shared Services Agreement (SSA) with Spartan TV LLC. Young owns and operates CBS WLNS-TV 6 in the market, and under terms of the SSA, will be taking over "...advertising sales, traffic and engineering functions including operation of master control..." for Spartan's UPN WHTV-TV 18. Spartan will maintain control of WHTV's programming, which includes rights to broadcast games of the NBA Detroit Pistons and NHL Detroit Red Wings. This dovetails with the Young station, which gets NFL games due to its CBS affiliation and also carries Michigan State football and basketball.
TVBR observation: For those of you who may be unfamiliar with the term SSA, it is basically just another name for LMA, or local marketing agreement. Such arrangements are often used where an outright station acquisition is not possible do to local ownership caps. It allows stations to enjoy economies of scale by combining back room functions, or to maximize the efforts of a sales staff, while essentially retaining two separate owners. Spartan must clearly show that it is ultimately in control of WHTV to avoid regulatory problems. Such arrangements were commonly used in radio prior to the 1996 Telecom Act, at which time most of them were converted into full-fledged acquisitions (or mergers). Look for the same thing to happen to most TV SSAs if Kevin Martin is successful in his expected attempt to loosen the ownership ceiling for television broadcasters.
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| Washington Media Business Report TM |
Flip floppers at the Commerce Committee
It can now be said that Ted Stevens (R-AK) and Dan Inouye (D-HI) are a couple of flip floppers, at least insofar as their Commerce Committee's extensive 2006 media hearings schedule is concerned. The duo announced that a 1/31/06 session has been moved to 1/24/06; likewise, a pair of hearings scheduled for the earlier date has moved to the later. A 10 AM session on Broadcast and Audio Flag moves from 1/31 to 1/24, while the two 1/24 sessions both go to 1/31. Video Franchising will take place at 10 AM, and Video Content at 2:30 PM.
| Here's the revised Committee's announced 2006 sked |
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| Entertainment Media Business Report TM |
 Eisner returns to TV - - as talent
Hey, he hosted "The Wonderful World of Disney" (which Bob Iger doesn't do, despite starting his career on camera). Now that he's no longer CEO of Disney, Michael Eisner is returning to TV as host of an interview show on CNBC. The last time we checked, that it not a Disney property. Anyway, "Conversations with Michael Eisner" will air every-other-month for 60 minutes on CNBC, originating from the same Rockefeller Center Studio where Eisner began his media career. "I am very excited that in my 'circle of life,' I am returning to the same NBC studio where I was a page for the 'Tonight Show with Johnny Carson' in the 1960s," he said. CNBC promises that "Conversations With Michael Eisner" will feature "freewheeling and probing dialogue conducted by one of the most dynamic and accomplished leaders in business." The program will be seen worldwide on CNBC, CNBC Europe and CNBC Asia.
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| Internet Media Business Report TM |
 Apple's iPods to be integrated
into Chrysler Group cars
Eliminating the need for cords and mini RF-transmitter, The Chrysler Group announced it will be the first American automaker to provide full iPod integration as an option in most of its 2006 Chrysler, Jeep and Dodge models beginning this spring. Drivers will be able to listen to their iPod through the car's audio system, select their music by artist, album or playlist with radio or steering wheel controls and view selections on the radio's display. "We're thrilled that over three million Chrysler, Jeep and Dodge automobiles will offer great iPod connectivity in 2006," said Greg Joswiak, Apple's vice president of Worldwide iPod Product Marketing. "Over 40 percent of all cars sold in the US in 2006 will offer iPod connectivity." The optional iPod Integration Kit for Chrysler, Jeep and Dodge model lines will be available to customers for the MSRP of 175 bucks plus installation from authorized dealerships. In addition, the solution can be retrofit to many model year 2005 vehicles.
Video search company to AOL
AOL has closed a deal to purchase Truveo, a video search company, to provide better video search features on AOL.com, which recently launched a In2TV with companies like Warner Bros., which is a video service that will offer thousands of vintage TV episodes from old favorites. Truveo uses a technology called Visual Crawling, which automatically discovers video files and related info on web pages.
iPod radio remote unveiled
Apple has debuted a new remote control with FM radio capabilities for the iPod music player. The iPod Radio Remote enables users to skip tracks and adjust the volume of their iPod even when it's in a pocket or backpack and listen to FM radio stations while displaying station and song information on their iPod screen.
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| Ratings & Research |
 ABC ends CBS' winning streak
The streak is over. CBS won the first 15 weeks of the current season for Household ratings, but fancy footwork - - both football and dancing - - carried ABC to the top in week 16, winning HH, 18-49 and pretty much any demo that anyone cares about. Powered by the Rose Bowl, fiesta bowl, Orange Bowl, Sugar Bowl, an NLF playoff game, the season premier of "Dancing With the Stars," and, of course, "Desperate Housewives," ABC swamped the other nets in week 16. It score an HH rating of 12 and 19 share, with CBS well back at 8.6/13, NBC 6.1/9, Fox 3.8/6, UPN 2.0/3, Univision 1.8/3, WB 1.7/3 and i 0.4/1. ABC's Rose Bowl telecast knocked CBS's "CSI" out of its usual #1 spot in the program rankings. Univision again did well in its second week of mainstream TV ratings, with its 6th place finish for HH and 5th for the 2+, 18-49, 18-34 and 25-54 demos.
| View the Chart |
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| Traffic |
What's new for 2006? - Part II
As many GMs and traffic managers will be looking to update their traffic and billing systems this year, RBR/TVBR asked a few current (and new) vendors to detail their latest and upcoming offerings. As well, what sets their systems apart from the rest.
| Read More... |
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| Transactions |
1.3B WQXI-AM & WSTR-FM Atlanta (Atlanta, Smyrna GA); WLYF-FM, WAXY-AM & WMXJ-FM Miami-Ft. Lauderdale-Hollywood (Miami, North Miami, Pompano Beach FL); KSON-AM & FM/KIFM-FM/KBZT-FM & KSOQ-FM San Diego (San Diego, Escondido CA); KKFN-AM/KYGO-FM, KCKK-AM/KQKS-FM & KJCD-FM Denver (Denver, Lakewood, Longmont CO); WBTV-TV, WBT-AM/WLNK-FM & WBT-FM Charlotte-Gastonia NC-Rock Hill SC (Charlotte NC, Chester SC); WWBT-TV Richmond VA; and WCSC-TV Charleston SC. 100% of Jefferson Pilot Corp. from Jefferson Pilot Corp. (Dennis R. Glass et al) to Lincoln National Corp. (Jon Boscia et al). Merger. Price of broadcast portion is TVBR estimate, with estimated 820M allocated to radio properties and estimated 480M allocated to television properties. Duopolys in Miami, superduopolies in Denver, San Diego & duopoly-cross-ownership in Charlotte, all existing. [File date 12/13/05.]
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| Stock Talk |
A tough day on Wall Street
Worries about radio after Emmis' soft guidance and a Harris Nesbitt warning of a double-digit drop by radio and TV stocks this year sent most TV stocks lower on Tuesday. Meanwhile, the Dow Industrials held steady at 11,012.
Along with Emmis falling 4.6%, McGraw-Hill dropped 4.4% and Washington Post Co. fell 2.3%.
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| Stocks |
Here's how stocks fared on Tuesday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Acme
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ACME
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3.57
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-0.14
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LIN TV
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TVL
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10.93
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-0.08
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Belo
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BLC
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22.36
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-0.09
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McGraw-Hill
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MHP
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49.28
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-2.27
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| CBS CI. B |
CBS |
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26.56
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-0.47
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Media General
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MEG
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50.87
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-0.09
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| CBS CI. A |
CBSa |
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26.49
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-0.49
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Meredith
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MDP
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53.52
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+0.12
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Clear Channel
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CCU
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32.00
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-0.47
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News Corp.
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NWS
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16.95
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+0.17
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Disney
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DIS
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25.32
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+0.32
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Nexstar
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NXST
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4.16
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-0.12
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Emmis
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EMMS
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18.29
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-0.89
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NY Times
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NYT
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27.71
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-0.39
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Entravision
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EVC
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7.13
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-0.05
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Paxson
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PAX
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0.91
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unch
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Fisher
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FSCI
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42.05
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+0.01
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Saga Commun.
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SGA
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10.20
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-0.20
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Gannett
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GCI
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63.41
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-0.33
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SBS
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SBSA
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5.22
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-0.01
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Gen. Electric
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GE
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35.19
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-0.19
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Scripps
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SSP
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49.30
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-0.68
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Granite
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GBTVK
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0.25
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+0.01
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Sinclair
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SBGI
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8.96
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+0.07
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Gray
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GTN
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9.51
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+0.22
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Time Warner
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TWX
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17.50
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-0.06
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Gray, C1. A
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GTNa
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9.00
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+0.47
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Tribune
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TRB
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31.19
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-0.12
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Hearst-Argyle
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HTV
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23.96
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-0.19
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Univision
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UVN
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31.20
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-0.42
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Jeff-Pilot
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JP
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58.29
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+0.22
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Wash. Post
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WPO
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771.90
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-18.35
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Journal Comm.
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JRN
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14.01
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-0.05
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Young
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YBTVA
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3.75
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+0.06
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Liberty Corp
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LC
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46.92
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unch
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-
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-
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- |
-
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-
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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 tvnews@rbr.com
Just to follow up on your Jan. 9th story on the proposed legislation that would enact a shield law in Washington State (1/9/06 TVBR #5). Current protection is minimal, at best, based on case law and provides only for a qualified privilege for confidential sources. There has been no definitive decision on reporter's work product, so the protection there is speculative. It is certainly understandable that the Society of Professional Journalists would be disappointed that the legislation does not propose an absolute privilege for both confidential sources and reporter's work product. Unfortunately, the political realities require us to frame legislation that will not be dismissed as "dead on arrival" immediately upon introduction, which would be the fate of a full absolute privilege bill. Washington Attorney General Rob McKenna has gathered an impressive roster of bi-partisan legislators, including a former TV news anchor, who are committed to sponsoring and moving the bill to passage. The Washington State Association of Broadcasters supports this major improvement in the protection our state affords to reporters and their sources. We have already begun working closely with Attorney General McKenna and Members of the Washington Legislature on behalf of the broadcast journalists in Washington to pass this landmark legislation.
Mark Allen, Esq.
President & CEO
Washington State Association of Broadcasters - Olympia, WA
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Below the Fold
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Internet Media Business Report
Apple's iPods to be integrated
Into Chrysler Group cars...
Washington Media Business Report
Flip floppers at the Commerce Committee
Ted Stevens (R-AK) and Dan Inouye (D-HI) are a couple of flip floppers...
Media Markets & Money
Lansing UPN affil gets a big sister
Young Broadcasting, which has the CBS network franchise is adding...
Ratings & Research
ABC ends CBS' winning streak
Fancy footwork both football and dancing carried ABC to the top of week 16...
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TV Media Moves
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 New VP for NBC News
Alex Wallace has been named Vice president of NBC News, reporting to NBC News President Steve Capus. Wallace's duties will include overseeing the "NBC Nightly News with Brian Williams." She was previously executive producer of "Today, Weekend Edition" and senior producer of "Today."
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NATPE Day Time Planner
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The following will be attending NATPE. Call or email to make your appointment in advance.
The Television Syndication Company, Inc.
Cassie M. Yde, President
THE Hotel at Mandalay Bay,
Phone at THE Hotel: 877-632-7800,
Cell Phone: 407-252-7386
Email: Cassie@tvsco.com
Patrick Communications
Larry Patrick, President,
Greg Guy, Vice President,
410-740-0250,
larry@patcomm.com,
greg@patcomm.com
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More News Headlines
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Pattiz resigns from government board
According to the Wall Street Journal, Westwood One founder and Chairman Norm Pattiz has resigned from the US Government's Broadcasting Board of Governors, where he was credited with launching Radio Sawa to reach Arab youth in the Middle East and a satellite TV service, Alhurra, also aimed at the Middle East. President Bush had failed to reappoint Pattiz, a Democrat, after his term expired in 2004, but he also never named a replacement, allowing Pattiz to stay on. Pattiz told the WSJ his decision to resign had nothing to do with politics.
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RBR - Radio News
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Emmis execs cautious about ad market
National radio business was stronger than local in fiscal Q3 for Emmis Communications, but company officials told analysts in their quarterly conference call (1/9) that the strength for national was due more to the company's collection of stations, rather than any trend for the industry. Also, the situation has now reversed, with local a bit stronger. Looking further ahead, Emmis Radio President  Rick Cummings said national is currently pacing flat for fiscal Q1, which begins in March. Since auto fell to #2 for the quarter, we wondered what was #1. Cummings told RBR it was Media, which jumped 19% for the quarter. However, he believes that's an anomaly and that auto will again be the #1 category in the current quarter.
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TVBR Radar 2005
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Television News you won't read any where else. TVBR--First, Accurate, and Independently Owned.
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How'd Emmis TV do last quarter?
Good question. Although Emmis Communications operated its entire TV group right up to the end of its fiscal Q3, which ended November 30, 2005, the TV stations are being treated as discontinued operations and their results were not included in yesterday's quarterly financial release. Thus, all we know from the release is that the net income from discontinued operations totaled 5.29 per share. That would include profits from the TV sales to Gray and LIN which closed on November 30th, producing net proceeds of 441.6 million. However, we found more in Emmis' 10-Q filing at the SEC, showing that the TV group produced net earnings of 11.1 million for the quarter.
01/10/06 TVBR #6
Winds of Naples hit Emmis
Emmis execs cautious about ad market as National radio business was stronger than local in fiscal Q3 for Emmis Communications, but company officials told analysts in their quarterly conference call that the strength for national was due more to the company's collection of stations, rather than any trend for the industry. Also, the situation has now reversed, with local a bit stronger.
RBR observation: On Emmis radio side we stated in RBR that our eyes focus on Emmis as the temperature reading for the radio business and now we will have to take into account the wind chill factor. It is going to be a cold 2006 as many conference calls on the way will demonstrate that there is a cold wind blowing through Naples this year. Bear Sterns has already taken their first step and it will not surprise us at RBR to see others follow their recommendation and not just Emmis but many in the radio business. Radio will have to find new ways and use new media technology to face this problem with national spot giving the agency more accountability with ROI.
01/10/06 RBR #6
Go ahead and cry Political hit dropped Q3 revenues
With no federal election to pump up results (national and spot combined) fell 11.7% in Q3 of 2005. Add in network (-12.6%) and syndication (+11.2%) and the TV industry was down 10.2% for the quarter.
TVBR observation: Go ahead and cry now because Q4 is not going to register any better. The holidays did not shine that bright to make any difference when the books get closed on 2005. TV has got to begin to think less clutter and multi-platforming or making allies with local media partners to bring an ROI to the advertiser. If you do not think as TVBR does then view the data from your TVB as it says the story - Not pretty.
01/09/06 TVBR #5
Negative on Radio continues;
TV you are next
Lehman Brothers official coverage of the radio stock sector - - and doesn't see much to excitement except for CBS, Univision and Radio One, analyst Anthony DiClemente isn't recommending the other radio stocks. After seeing only flat revenues for radio in 2005, he's looking for only 1% growth in 2006.
TVBR observation: There has been plenty of negative to go around from '05 and the Wall Street saying applies - The Fish Stinks at the Head. Radio CEO's now must be held accountable. So TV CEO's if you thinking you will not be next in line for this slap down guess again as the television has one different slant - for the most part radio CEO's can't fire themselves as the many in charge control their companies through family ties. Television does not have this luxury of family control the only alternative is to fire the TV CEO.
01/09/06 TVBR #5
2005: A TV year best forgotten
If you made money on TV stocks in 2005, you must be one heck of an investment guru. Only five of the 35 stocks that TVBR tracks daily were up for the year. It appears that the best way for a TV company to boost its stock in 2005 was to sell itself. Liberty Corporation has a deal pending to sell the entire company to Raycom for nearly a billion bucks. And Emmis Communications rose because it spent much of the year selling off its TV assets, with a couple of deals yet to be announced, choosing to focus on the radio business. The year's biggest winner was McGraw-Hill, driven by its educational and financial data businesses, rather than its small TV station group. All in all, we're sure most CEOs of public TV companies would like to forget about 2005.The rest is history.
TVBR observation: Now TV will find out the same as radio did during the past 3 years - Poor content with too much cluter equals failure. Now TV has New Media to face for the dollar.
01/04/06 TVBR #2
2005: The year of penny stocks
No, we're not saying that 2005 was a year to make a killing playing the penny stock market. We have no idea whether it was or not. What we do know is that three public TV companies who began the year in the reputable part of the stock market, where stocks of five bucks or more per share can be readily traded and even bought on margin, are ending the year in penny stock hell - - being traded by the market's scavengers.
12/28/05 TVBR #251
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Sales Manager
Reno Radio Representatives is seeking candidates. The FM station is one of the markets best rated and the company encourages both women and minorities to apply.
See Radio Careers
TVBR Searching for 2 Pros
To join the best TV business publication in the media B2B today. Searching for one (1) Top flight Editor that does not need direction and one (1) Top Experienced Sales person that knows how to Sell/Market quality and wants to make money. Team work expected. Only the pros need apply as TVBR's expansion is now. Confidentiality honored by TVBR publisher Jim Carnegie (813 909 2986) Email qualifications to publisher@rbr.com
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