It's been a tough month for Hispanic-focused media company Entravision. Its stock is at levels not seen since September 2014. Its CEO acknowledged that Q1 was "a difficult quarter." Now comes word that the company’s independent registered public accounting firm has been dismissed.
A war between CBS Corp. and the Shari Redstone-controlled National Amusements Inc. is on. In a vote held Thursday afternoon in defiance of an attempt by NAI to weaken and/or negate its outcome, CBS Corp.'s Board of Directors voted 11-3 to dilute NAI's voting interest from approximately 79% to approximately 20%.
In early April, RBR+TVBR reported on an effort by Gray Television launched in January to get DirecTV and DISH Network to add a CBS affiliate serving eastern Kentucky. At the time, more than 2,200 filings were made in response to Gray's FCC petition. The Commission on Wednesday ruled on the matter.
With iHeartMedia seeking to emerge from Chapter 11 bankruptcy protection, a quarterly conference call with investors was not expected. A glimpse of how the company did in Q1 was, and iHeart delivered ... via a hard-to-find SEC filing that had many of the details. A mixed financial performance is expected.
What is being hailed as "the first fully-digital attribution service for broadcast radio that will transform the way advertisers plan, buy and measure their audio campaigns to better optimize the unparalleled reach of radio" has been launched by the nation's No. 1 radio broadcasting company.
For most of her 24-year career, one top radio industry market manager has called the Mile High City home. She's been associated with a group of stations that have seen five owners since 1994. Now, after sitting on the sidelines for six months, she's moving across the street to a group of radio stations that were once her longtime competitors.
Cumulus Media is set to emerge from Chapter 11 bankruptcy protection within the next six weeks. Is it on the right track? The company's just-released Q1 2018 results suggest this is the case -- although the path to recovery may be slow and steady.
For the third time in less than three years, a Class C2 facility serving a rural community some five hours to the southeast of Portland, Ore., has filed for a silent STA with the Commission. Why? It seems there are some landlord-tenant issues that have gotten a bit testy. It's the latest nightmare for a DJ-turned-owner who shares his tale exclusively with RBR+TVBR.
CBS doesn't have to wait until its 2018-2019 Upfront presentation on Wednesday or its annual shareholders meeting on Friday to get the attention of the news media. Today's filing of a lawsuit in Delaware by CBS Corp. and its Special Committee of its Board of Directors alleging breaches of fiduciary duty by National Amusements Inc. is the talk of Manhattan.
On Wednesday, the future of Sunbeam Television's top-rated WSVN-7 in Miami-Fort Lauderdale was put into question as 21st Century FOX announced it was acquiring seven stations from Sinclair Broadcast Group by way of Tribune Media — including the CW affiliate in South Florida. Today, Sunbeam's owner spoke up. A loss of Fox affiliation for WSVN is a very real possibility.
Some buyers regard the retention of key employees following the closing of a radio or TV station acquisition as an essential element of the deal. Yet, sellers often do not take into consideration the adverse impact of the exit of a key employee — or several. Should a firm succession plan be drafted before the Asset Purchase Agreement is signed? That is the focus of this exclusive "Deal Killers" podcast featuring the COO and CEO of Community Broadcasters, media broker Doug Ferber and respected D.C. communications attorney Erwin Krasnow.
If there was one clear message delivered by Emmis Communications founder and Chairman/CEO Jeff Smulyan during his company's fiscal Q4 and full-year 2018 earnings call for investors, held Thursday morning, it was this: the company is in "a different stage in its life cycle" compared to its peers. As such, lowering its leverage to zero is the primary focus, and it's being achieved.
Exactly five months ago, one of the world's most-respected business news organizations reported that Sinclair Broadcast Group would "soon" be making a Form 314 filing with the FCC that would see the transfer of control of "about 10 stations" to 21st Century FOX. They were mostly correct: A deal has finally been struck, and seven TV stations are trading hands.
Entercom has attracted renewed attention to the radio industry thanks to its merger with CBS Radio, which closed nearly six months ago. But, there's a long road ahead to fully realize the benefits of this deal -- and that was made clear in a Q1 highlighted by weak ad conditions and a $12 million sting tied to a broadcast traffic services company.
Namaste ... and have a shot of tequila. It was a painful day on Wall Street for several companies that reported their Q1 earnings results on Tuesday. The biggest declines came from DISH Network, which missed the Street's Q1 revenue estimates, and Entercom. Downward movement was also seen for CBS. Salem was unchanged ahead of its Q1 release, which we review here.