Entercom's Q3 earnings results delivered a mixed reaction from Wall Street. Earnings per share slightly missed the consensus analyst estimate. On a same-station basis, net revenue in Q3 dropped as pro-forma Adjusted EBITDA slipped by $3 million. Entercom President/CEO David Field is satisfied. A full-time investor mainly focused on U.S. equities believes Field has every reason to be content.
Salem Media Group revealed during its Q3 earnings call that political dollar growth will not be enough to bring revenue growth in Q4. The company's stock is flirting with a fresh five-year low. Now, Simply Wall St. is asking if Salem's balance sheet is strong enough to weather a storm. Is it?
On the morning of March 20, the entity created by the sons of veteran Pittsburgh radio station owner Saul Frischling filed a bankruptcy petition in U.S. Bankruptcy Court for the Eastern District of Missouri. By day's end, it became known that the licensee for the Frischling family's two FMs in Pittsburgh had been added to the Missouri petition. Branded as Steel City Media, these stations have now filed a Chapter 11 reorganization plan.
Pending ownership rule changes. Lowering the leverage. Understanding the power of Smart Speakers and Podcasts. These are the just some of the key subjects tied to greater riches for the radio business discussed across sessions at Radio's Financial Summit: Forecast 2019, held in Midtown Manhattan on Wednesday. With no outside press allowed, RBR+TVBR has an exclusive inside look at the event.
The Univision blame game is on, and there are no less than four reasons why the Doral, Fla.-based company's just-released Q3 earnings are very disappointing. With net revenue down significantly, and income from continuing operations shrinking, recently installed Univision CEO Vince Sadusky pointed fingers at DISH Network, one important partner, and itself.
It appears as if the nation's No. 1 operator of AM and FM radio stations is very close to shedding its debtor-in-possession status. Wednesday morning saw the release by iHeartMedia of an official list of members selected to serve on its Board of Directors following the company's emergence from Chapter 11 bankruptcy protection. Among the names with Rich Bressler and Bob Pittman: Disney's former CFO and the head of MGM until earlier this year.
It wasn't posted to the company's SEC filings as of 4:20pm. It also wasn't on their corporate website. The only place Cumulus Media, the nation's No. 3 owner and operator of radio properties by station count, decided to share its third-quarter results was by way of a GlobeNewswire press release. So, how did Cumulus do on a day it declared it is now offering a "lead guarantee"?
A deal has been reached between DOJ and no less than 6 owners of broadcast TV stations — including a company that just bought a group of radio stations from The E.W. Scripps Co. The other companies involve Sinclair, the company set to merge with Gray Television, and the company that won't be merging with Sinclair.
Miami-based Spanish Broadcasting System somewhat stealthy released its Q3 2018 earnings results following the Closing Bell on Wall Street Friday. By the end of Monday, it was clear among key shareholders that SBS, despite its numerous leverage issues and outstanding debt, is a cash-flow monster. Net income was seen, compared to a net loss a year ago, as net revenue improved by 4%.
November 11, and the U.S. government holiday the following Monday, are meant to allow Americans to remember and honor those who have served in the Armed Forces. For shareholders of some of the top radio companies, it's best that we forget how their investments are performing on a day full of losses on Wall Street.
Among the many companies falling under the microscope of financial analyst Bret Jensen is none other than Entercom. For Bret Jensen, this radio industry pure-play is "an overlooked small cap concern" that he describes as "one of the most off the radar names in my current portfolio." Thanks to Jensen's positive report, Entercom could be on the radar of many more investors.
Call it profiteering? Or, is there something within the Q3 results from The E.W. Scripps Co. that led shareholders to start selling shares on Friday morning? We took a look, as the company that just sold all of its radio stations posted earnings per share and net revenue that easily beat the Street.
It was a tale of ups and downs for many companies reporting Q3 earnings results this week. For Discovery Communications, gains on Wall Street were seen after the company offered results that beat FactSet consensus estimates. For Entravision, a 19.2% slide in its stock value came following the release of its earnings performance Wednesday afternoon.
"Nexstar delivered another quarter of record financial results with top-line profitability and cash flow metrics exceeding consensus expectations," says President/CEO Perry Sook, who founded the broadcast TV company. Indeed, Nexstar has beat the Street in three of the last four quarters, and its stock is just pennies off a record high. How did Nexstar do in Q3?
Just don't bother looking at Entravision Communications' net income in Q3. Greatly impacted by a $263.94 million check by participating in the FCC's incentive auction, Entravision made a bundle of cash a year ago that everyone knew wouldn't be matched this year. So, how did the company specializing in Hispanic media do in Q3? And, where is its Chief Revenue Officer going?