Despite visibly increased enforcement of unlicensed FM radio broadcast operations across the U.S., fueled by efforts led by Republican FCC Commissioner Michael O'Rielly, "pirate radio" operators continue to clog the airwaves in areas such as South Florida, New York City, and the greater Boston area. Now, the U.S. House of Representatives is considering legislation that would put greater fear — and financial punch — behind the FCC's Notice of Unlicensed Operations and proposed fines.
With a SEC filing not coming until 8am Eastern on Thursday morning, iHeartMedia shared via its investor relations section on its corporate website in the wee hours of The Ides of March news that has been eagerly anticipated for nearly two weeks. The nation's No. 1 radio broadcasting company has filed for Chapter 11 reorganization, doing so in a Texas federal bankruptcy court.
In an address to Hispanic Radio Conference attendees delivered Wednesday afternoon in Doral, Fla., FCC Commissioner Jessica Rosenworcel called on the FCC to fully assess what went right -- and what went wrong -- as Puerto Rico and the U.S. Virgin Islands dealt with Hurricane Maria some six months ago. The comments came following a visit to Puerto Rico by Rosenworcel, who is already concerned about the 2018 hurricane season.
What a difference a year makes. In March 2017, Susan Larkin served as a Regional VP for Cox Media Group's stations in Orlando and Jacksonville. Four months later, she exited the company and joined Entercom as an RVP, eventually settling in San Francisco to oversee the company's Bay Area cluster. Larkin will no longer have to deal with a difficult Northern California housing market. Instead, she'll have to contend with the housing prices of the New York Tri-State Area, starting in April.
It was a year of transition for Townsquare Media Group in 2017. The company's entertainment business is under strategic review. Former CEO Steven Price is settling in to his new role as Executive Chairman, and his two replacements — as co-CEOs — are, like Price, energized about what lies ahead. Looking back isn't so great: The owner of radio stations in small and medium-sized markets swung to a loss in Q4.
With an extended deadline on a short-term forbearance agreement forged with its lenders set to expire Tuesday at 12:59am Eastern, iHeartMedia has taken another step closer to a restructuring of its capital structure. The company on Monday submitted to the SEC revised versions of a draft restructuring support agreement and related draft restructuring term sheet. The revisions "reflect further negotiations" with the advisors to groups of iHeart's noteholders, lenders and equity holders. We've compared the revisions to the original document, and some notable changes have been made.
Since 2014, a newly formed entity has successfully launched five HD network affiliates in the smallest of markets across the U.S. As a result, NBC, FOX and CBS stations are now present in what had been some of the few remaining DMAs that didn’t have the full compliment of Big Four network carriage. The most recent market where local affiliates debuted under this company's leadership is Lafayette, Ind. Now, it can fully reap the benefits of their efforts, as the last Indianapolis-based stations to be found on local Comcast channel lineups are poised to disappear.
Your station's bank account may have a few more dollars added to its balance by the time media executives gather in Las Vegas for the 2018 NAB Show. Just don't make a cash withdrawal and lose it to the many one-armed bandits found around Sin City. The Incentive Auction Task Force and the Media Bureau have confirmed that an additional allocation of the TV Broadcaster Relocation Fund is anticipated in approximately four to six weeks.
In this guest Media Information Bureau column, Tribe Pictures CEO and Creative Director Vern Oakley discusses how "fake news" is old news and why "fake video" is the new threat — thanks to emerging technology that will allow the manufacturing of authentic-looking video your staff may not be able to flag as phony. Reading this could very well keep your stations' integrity in check.
A Malvern, Pa.-based company that connects businesses with on-air, online and on-the-go traffic technology and provides local content, traffic information, advertising, and interactive marketplace solutions to media partners and businesses nationwide played a key role in Entercom's dip. This revelation came in a detailed account of what happened to the company in Q4 2017. "Lackluster" leadership at the former CBS Radio was also a factor, Entercom head David Field said.
The full integration of the former CBS Radio stations — and a big tax benefit — certainly helped to drive revenue for Entercom Communications in Q4 2017. Net revenue grew to $246.6 million, from $124.6 million, as the company's net income soared to $232.4 million ($2.58 per diluted share) from $10.5 million (27 cents). Unfortunately, Wall Street expected more from Entercom in Q4.
With tongues wagging following the company's decision not to move forward with an Initial Public Offering and the naming of Peter H. Lori as Univision’s CFO, replacing an individual brought on to bring the IPO to fruition, Univision Communications majority owner and chairman Haim Saban and the company's board on Wednesday evening "set the record straight" about its CEO. We've got an RBR+TVBR Observation on the matter, which addresses the multiple news organizations sticking to rumors about Randy Falco's departure.
With Sinclair Broadcast Group and Tribune Media agreeing to “resubmit or amend” their applications filed with the FCC in connection with MB Docket No. 17-179 — the formal name given to the review of Sinclair’s planned merger with Tribune, there's already some buzz regarding what changes have been made. A look at the FCC's database today suggests that it is abandoning its plan to own two of the top four stations in Pennsylvania's state capital.
Last Wednesday (2/28), Sinclair Broadcast Group's legal counsel was joined by Tribune Media's legal counsel in a conference call with five key members of the FCC's Media Bureau at the Commission's request. The subject: MB Docket No. 17-179 — the formal name given to the review of Sinclair's planned merger with Tribune. The result of the call: Sinclair and Tribune are to "resubmit or amend" their applications filed in connection with the proceeding.
The wait is over for investors and Hispanic market observers who have been asking about Univision Communications' Initial Public Offering plan, and when the company targeting Hispanic and millennial consumers will come to fruition. After a series of delays, there will be no IPO.