Like Entercom and iHeart, Cumulus Moves To Thwart A Hostile Takeover

Call it a "poison pill." Call it fortifying the moat against an invasion on the C-Suite and corporate castle. Short-term shareholder rights plans have emerged at three of the nation's biggest audio media companies, with the latest one to emerge coming from Cumulus Media. Here's an exclusive look at how the plan signed off by Mary Berner compares to those at Entercom and iHeartMedia.
NAB / National Association of Broadcasters

Three New Faces Arrive On The NAB Radio Board

Two at-large seats and one Radio Board representative for the Hoosier State have been appointed to the NAB Radio Board of Directors. They'll take on their fresh responsibilities at the start of the board's next meetings, set for a virtual format on June 8 and 9.

Schlesingers Snap Up Central Pa. Trio From Michael Stapleford

A decade ago, Jeffrey and Mark Schlesinger obtained WBPZ-AM and WSNU-FM in Lock Haven, Pa., to the southwest of Williamsport and northeast of State College. They must like Happy Valley. A pair of asset purchase agreements have been filed that will give them control of two FMs, an FM translator and an AM serving a region that is home to Penn State University.

Entercom Founder Buys More Shares, On The Cheap

Punctuated by a 20% gain immediately after Thursday's market open, and a 30% day-to-day improvement at the closing bell, investors may be finally ready to snag more Entercom shares. The man who in 1968 founded Entercom just did, grabbing more stock at prices few anticipated ahead of the COVID-19 pandemic. This was seen as a sign of confidence on Wall Street.

Here’s The Opening Keynote Panel for a Virtual Media Finance Focus 2020

Wednesday was initially set to be the concluding day of the 2020 Media Finance Focus conference, slated for a venue just steps away from the famed Chinese Theatre. Alas, the COVID-19 pandemic scrubbed the confab. Instead, a virtual event is on tap, and it will begin with "A View From The Top." Radio industry leader Darrell Brown is among the speakers.

Hubbard Makes a Multichannel Executive Move

Hubbard Radio has selected a “Brand and Digital Content Development Director," based at its Twin Cities headquarters, to assist the company's market-level managers with strategies for the creation of new multichannel content. 

Cumulus Erases Nine Days Of Wall Street Dips

Oh, those finicky investors! One day after dipping to its second-lowest post-bankruptcy low, Cumulus Media shares exploded in heavier-than-usual trading on the Nasdaq Global Select market. Wednesday’s trading session finished with CMLS up by more than 21%.

Formats … Without the Ratings: Radio Revenue In COVID-19 Times

Longtime Boston-based radio programming consultant Clark Smidt has combed through the April Nielsen Audio ratings results for his home market. There, as in other locales where the PPM is used, cume -- the number of people actively tuning to radio -- has tumbled since the COVID-19 pandemic began. But, Smidt believes ratings are only part of the story radio can tell.

RBR+TVBR Coronavirus INFOCUS Podcast: Mark Shecterle

As a true believer in live and local radio, NRG Media's Omaha Market Manager believes his group of stations is poised to outperform as COVID-19 concerns start to fade. That said, an interesting sales story has emerged ... not to mention news that shower curtains are in place to protect on-air talent now back at work! Get the full scoop in this latest podcast. LISTEN HERE

Can Bullish Analysts Propel Entercom Stock Back?

Entercom Communications was among the companies Simply Wall St. took a magnifying glass to when pouring over the Q1 2020 results -- and what analysts had to say. Their report? Entercom is highly regarded, and investors seem to be paying attention.
NPR / National Public Radio

Thank Eric and Wendy Schmidt For NPR Journalist Grant

A $4.7 million grant has been granted to NPR from philanthropists Eric and Wendy Schmidt to the Collaborative Journalism Network for the expressed use in the creation of two new regional newsrooms. One will be in the Midwest. The other will be in California.

Simply Wall St.: ‘Analysts Have Soured Majorly’ On Cumulus

A respected financial blog that's home to analysts with an eye on broadcast media companies has socked it to Cumulus Media, following the recent release of Q1 2020 earnings that left many observers with a sour taste in their mouths.

Urban One Selects Its Q1 Earnings Release Date

Urban One, the media company superserving African American consumers, will be holding a conference call for investors, analysts and other interested parties to discuss its results for the first fiscal quarter of 2020 on Thursday, May 28. The company's results will be released earlier in the day.

An Atlanta Alternative for iHeart: A Bigger Latin Pop Signal UPDATE: WRDG-FM 96.7 in Union City, Ga., an iHeartMedia station that covers the southern portion of the Atlanta region, is now a simulcast partner with WBZY-FM 105.7 in Canton, Ga., which covers the northern portion of the market and formerly had the WRDA call letters. The WRDA calls are now at Urban "105.3 The Beat."

Eagle Flies Into Missouri Monopoly With St. Joe Buy

A Class D AM with an FM translator serving a Missouri city known as the headquarters of the News-Press & Gazette Co. is being sold. No, NPG isn't the buyer. It's an Eagle that's set to fly high with this Classic Hits facility.

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