If there's one Wall Street analyst who has emerged as a prolific writer and prognosticator, it's Pivotal Research Group Sr. Research Analyst for Advertising Brian Wieser. He's been quite busy as of late writing up lots of reports and briefs on the state of advertising-driven media companies, and now he's released his forecast on how 2017 will fare for ad growth.
Net revenue and Adjusted EBITDA were both up for Cumulus Media in Q2, as the company's net income improved considerably. There's also more cash on hand. While the company's total debt remains unchanged — at $2.42 billion — this was a good Q2, thanks to Westwood One.
Word that three leading Democrats on the House Energy & Commerce Committee have accused FCC Chairman Ajit Pai of favoritism toward Sinclair Broadcast Group reached Wall Street on Monday afternoon. That news didn't sit well with investors, as the company's stock slid 3.8%.
Has FCC Chairman Ajit Pai given favorable treatment toward Sinclair Broadcast Group, the broadcast media company that is on track to merger with Tribune Media? Three top Democrats in the House of Representatives think so, and wrote to Pai on Monday to express their concerns.
It didn't take long for the newest FCC Commissioner to saddle up and staff up. On Monday morning, he announced the appointment of four key individuals that will serve in his newly minted office in acting capacities. Later in the day, Chairman Pai announced the FCC's new Acting General Counsel.
The FCC is once again a Federal agency with four Commissioners and its Chairman. While Jessica Rosenworcel was effectively reappointed, bringing the Democrat back to the Commission after a seven-month absence, today marked the start of what will be a lengthy tenure as a Commissioner for Republican Brendan Carr.
Pivotal Research Group Senior Research Analyst for Advertising Brian Wieser kept the midnight oil burning late Wednesday, as he reviewed the "weak advertising revenue trends for national TV" seen in Q2. He thinks they're down by about 1%. Get used to it, Wieser advises: He says growth for the traditional medium is unlikely to return any time soon. But, there are opportunities for growth, he adds.
From job growth picking up and income lagging behind to weak housing investments and the current political climate, consumers are being bombarded with a slew of mixed indicators that are making them less willing to open their wallets and spend. That's the important takeaway for broadcast media sales executives and the C-Suite from a newly released study from IRI.
Did Sinclair Broadcast Group go to Chicago Canine Rescue and adopt a dog? That's what some investors might start to ask, given the Q2 results Tribune Media just posted. Yes, the company's net loss was narrower. Yes, Tribune’s Diluted EPS failed to meet analysts' estimates.
The NextRadio app as originally conceived effectively unlocks the FM tuner that's hidden in an Android-powered device, including most — if not all — Samsung models presently on the market. According to the latest smartphone OS data from Kantar Worldpanel ComTech, Samsung regained the top sales spot in the U.S. for the three-month period ending May 30. However, its share is down.
"We are pleased to report another solid quarter that was in line with our expectations.” That's how Townsquare Media Chairman/CEO Steven Price opened his discussion this morning on the event marketing and small-market radio broadcasting company's Q2 results. While net revenue was up 2.6%, consistent with the company's guidance, net income and Adjusted EBITDA were pretty much a pancake — flat, but tasty enough to satisfactorily accept.
The addition of the Media General TV stations to Nexstar Media Group significantly impacted its bottom line in Q2: Nexstar enjoyed a 139% net revenue rise to a record $626.1 million.
Poor comps? Not here. Gray Television enjoyed a Q2 2017 that was nothing short of spectacular, as revenue surged to $226.7 million from $196.6 million, and net income catapulted to $70.6 million (97 cents per diluted share) from $17.7 million (24 cents). Thank the Spectrum Auction for the strong quarter, and buckle up for a bumpy Q3.
Following Monday's Closing Bell on Wall Street, CBS Corporation reported Q2 2017 results that surpassed expectations, coupled with profits that met the Street. Brian Wieser, a senior analyst at Pivotal Research Group who has emerged in recent months as a prolific pulse-taker of broadcast media's publicly traded companies, likes what he sees: CBS execs hint that the company is shifting its revenue mix away from advertising and toward other activities, and those moves are "particularly positive."
Holy Moly: Upon first glance of Salem Media Group's second quarter earnings release, distributed just past 1pm Pacific by the Southern California-based faith-focused and conservative talk broadcast company, one word glaringly sticks out among all others: Decreased. It set the tone for a quarter in which net income plummeted on slightly less revenue.