How did The E.W. Scripps Co., heavily invested in digital multicast networks thanks to its company-transforming ION Media merger, perform in Q2 2022? Like its free-to-air TV brethren, political advertising surged. As such, core advertising was impacted, as Scripps swung to net income from a Q2 2021 net loss.
With pressure mounting on the corporate leadership at Audacy Corp. to reverse its declining stock value, or risk NYSE delisting, the company formerly known as Entercom on Friday released second quarter earnings that fell short of consensus estimates on both earnings per share and revenue.
Gray Television now anticipates that its political advertising revenue for 2022 will match the $652 million of political advertising revenue that its current portfolio of stations recorded in 2020, a presidential election year. That said, Gray is a much bigger company, asset-wise, than it was in 2020, resulting in combined historical financial information requiring a closer look. Once the magnifying glass is applied, there's no getting around it — Gray's Q2 was great.
The nation's leading audio content creation and distribution company enjoyed a healthy net revenue gain as it swung from a $32.29 million net loss in Q2 2021 to net income of $14.4 million. Operating income soared, aiding company growth in Adjusted EBITDA during the second quarter of 2022.
If you thought the political dollars achieved in the second quarter by Sinclair Broadcast Group were huge, just wait 'til you see how Nexstar Media Group — the biggest licensee of broadcast TV stations — performed in the three-month period ending June 30. The owner of broadcast TV stations in three Michigan markets, a key primary election state, enjoyed an eye-popping 920% increase in its political ad dollars from the second quarter of 2021. This helped Nexstar soar past Street estimates on both revenue and EPS.
Audacy Corp., ahead of the release of its Q2 2022 earnings report, shared that it received notification from the New York Stock Exchange on August 1 that its Class A common stock is not in compliance with the NYSE’s continued listing standard. It has not been in compliance since June 28.
As CFO Sam Bush reviewed the "very good performance" for Saga Communications in the second quarter of 2022, he shared one particularly notable trait that puts the radio broadcasting pure-play in a unique position — political ad dollars have yet to make a significant impact for the publicly traded company. No matter. Saga's net operating revenue and net income both jumped ahead nicely, likely making lead shareholder Daniel Tisch and his Towerview LLC pleased.
The audio content creator and distributor that owns Cadence13 and Pineapple Street has partnered with CBS Sports Digital. The agreement makes Audacy the exclusive, multi-year ad sales and distribution partner for CBS Sports' network of sports podcasts.
In Q2 2022, both Townsquare Media Group and Beasley Media Group took an impairment charge. Beasley explains it did so "due to an increase in the discount rate used in the analyses to estimate the fair value of FCC licenses and goodwill in a rising interest rate environment." What exactly does that mean? One veteran media broker, along with BIA Advisory Services leaders, shared with RBR+TVBR in layman's terms exactly why an impairment charge would be taken.
There was little to slow down the company dedicated to serving consumers with Christian-themed and conservative talk radio programming in the second quarter. Net broadcast revenue grew, while net income surged. The third quarter guidance is also growth-focused.
RBR+TVBR's review of the broadcast media industry's second quarter 2022 earnings reports continues with audio highlights from Cumulus Media's Q2 2022 call, featuring CEO Mary Berner and CFO Frank López-Balboa. It's all here in this 20-minute InFOCUS Podcast, presented by dot.FM. LISTEN HERE
Two FM radio stations serving Niagara Falls, Ont., each with signals reaching neighbouring Buffalo, N.Y., have been sold. Terms were not disclosed, as the CRTC will now review for its approval.
The race to the finish line for the proposed Standard General majority acquisition of TEGNA is inching closer to its conclusion. Regulatory approval of a deal that would see Apollo Global Management take a non-voting minority stake in a "new TEGNA" awaits. As such, a pro-MVPD and retransmission consent fee foe has called on the FCC to "closely examine" attribution issues and impose "effective conditions" in place to prevent violations of the joint negotiation prohibition.
Sinclair Broadcast Group enjoyed a robust second quarter of 2022, thanks to stunning political ad revenue of $54 million. What was the overall financial picture for the media company, which saw its Board of Directors declare a quarterly dividend for SBGI shareholders?
"Adam's vision and leadership have continually delivered shareholder value through forward-looking strategies that have transformed the company's financial profile and positioned it for further growth and success," said Kim Williams, chair of the board at The E.W. Scripps Co.
It seems there’s an epidemic of filler words in the United States, notes veteran public relations executive and "Zoom expert" Rosemary Ravinal. But, she notes in this column, "is the gaggle of you know, like, ah, uh, etc. that peppers our public speaking a problem in other languages as well?" The answer is yes.
While Nielsen continues to regain the trust of the George Ivie-led Media Rating Council with respect to accreditation, the iHeartMedia-owned spot data tracking service known as Media Monitors has once again warmed the hearts of the MRC.
Streamline Publishing's Radio Ink and Steve Newberry-helmed QUU are rolling out the red carpet as the Radio Masters Sales Summit celebrates 30 years of excellence with the Radio Wayne Awards. This year's awards presentation is scheduled for September 22, and it will be live and in-person at the upcoming Miami affair.
By the time you read this, the FCC's Administrative Law Judge may have already ruled on the license revocation for a Marion, Ohio-based low-power FM radio station accused of misrepresentation and false statements that failed to secure legal counsel as ordered by the Commission for the hearing. But, Shawn Craft, the individual associated with WWGH-LPFM, is going out swinging.
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The organization known as the Advanced Television Broadcasting Alliance, representing both low-power television and Over-the-Top entities, has submitted comments to the FCC in response to its fifth Notice of Proposed Rulemaking on the subject of the continued use of VHF Channel 6 for radio operations linked to 87.75 MHz. What does the ATBA have to say to the Commission? "FM6" rules are being strongly supported by the group.
Integration of the data "will enable the Sinclair Broadcast Group to reach real-world customers and qualified prospects effectively and efficiently through consumer-based selling," Comscore boasts. The multi-year agreement was announced on Wednesday.
For many in the U.S., Sinclair Broadcast Group is viewed as the owner of broadcast TV stations and the parent of Bally Sports regional sports networks. But, Sinclair is perhaps the one free-to-air TV station owner that's done more to advance ATSC 3.0 in the U.S. than its peers. Now, Sinclair has taken another step designed to further the development and implementation of NextGen TV not only stateside, but in South Korea.