After hearing updates from three companies covered by esteemed Wall Street analyst house MoffettNathanson at a conference held this week, the firm is moving forward with something it may not have anticipated just one month ago. It's raising its estimates for the second quarter and for the 2020 calendar year for both national and local TV advertising revenue.
While not quite as impressive as the year-over-year increases seen in March and April, as much of the U.S. was in strict shelter-at-home quarantines tied to the novel coronavirus, household consumer packaged goods (CPG) spending in May 2020 was still up significantly compared to one year ago.
Some 30 years ago, CNN Headline News made a name for itself with its quick-bite, half-hour newscasts running practically 24/7. Now, Sinclair Broadcast Group is preparing to launch its own, fresh take on a "headline news" service -- and it will kick off in 2021 as a morning offering across a wide array of its youth- and Millennial-target broadcast TV properties.
America’s Public Television Stations and the NAB have commended the FCC’s NPRM on potential changes to the Commission’s rules governing Distributed Transmission Systems. The two groups are happy the Commission is moving forward “expeditiously” in the proceeding and don't want that pace to slow down. The National Translators Association has a problem with that.
Soon-to-depart Univision Communications CEO Vince Sadusky shared some -- but not all -- of the details surrounding the pending ownership change at the nation's foremost company targeting Hispanic consumers in a Q&A following a virtual Upfront presentation delivered on Thursday. There was also some insight on where Univision's radio stations fit into the mix.
In a major move by one of the nation's key hedge funds with investments in publicly traded radio companies, Brigade Capital Management's Cayman Islands-based leveraged capital structures fund has sold off all of its shares in the nation's foremost media entity superserving African American consumers. The result? Urban One's Class A and Class D shares each soared on Monday.
First, it was the disproportionate COVID-19 pandemic impact on the Black community. Then, it was the murder of George Floyd, and the resulting nationwide protests tied to a message that "Black Lives Matter." Now, a group of NABOB members believe it is time for Corporate America and Capitol Hill to speak up.
By now, tales of crippling fiscal calamities attributed to the COVID-19 pandemic's wrath on the U.S. economy are near daily tales. But, when the financial health of advertising-fueled business will return to any virus-free ailments remains unclear. For MAGNA, writing off 2020 as a lost year may be, unfortunately, the best solution for media.
In mid-March, ad revenue plummeted as COVID-19 fueled shelter-in-place rules clobbered the nation's economy. But, this "local first" company had a slightly different story to tell: digital and interactive grew, even in a pandemic. Still, that couldn't prevent the company from freezing its quarterly dividend payments and experiencing a 17.7% pro forma adjusted EBITDA dip.
As protests continue to take place around the country following the murder of George Floyd by members of the Minneapolis Police Department, a Pew Research Center analysis finds that two-thirds of Americans, including a majority of adults across racial and ethnic groups, express support for the Black Lives Matter movement.
Is this a positive COVID-19 effect ... or something else? Since the start of the year, Americans' trust in government has risen nine points, while their trust in business has risen by six points. Those are the key findings of the 2020 Edelman Trust Barometer Spring Update: Trust and the COVID-19 Pandemic.
Spearheaded by Ron Stone, who heads Adams Radio Group, the proposed Independent Broadcasters Association has seen a rapidly increased interest since word first emerged of his plans to launch the group. "We have a chance to make things better for the independents and it is time we do," Stone says.
The COVID-19 pandemic impacted Blacks in far greater ways than the total population. Then came the George Floyd murder and international protests. How is the obligation, if you will, of African American owned and operated stations in serving their audience more important than ever? NABOB head Jim Winston answers this and other questions in an exclusive podcast. LISTEN HERE
Marketers, looking for increased productivity and transparency in their media investments, are calling for sweeping changes and improvements in the media ecosystem. This, says one of the most influential brand stewards in the world, includes transformative changes to the upfront marketplace.
A material impairment charge to the intangible assets of "local first" radio station and digital media company Townsquare Media has been taken. There's more: a material impairment charge to Townsquare's "goodwill" was needed, resulting from a change in the company's reporting segments. Townsquare explained why in a SEC filing made Tuesday.