Moody's looks for Citadel to restructure
Moody's Investors Service has cut its corporate debt rating for Citadel Broadcasting to a basement-level Caa3 and its probability of default rating to Ca. Moody's says the ratings outlook is "stable" - mainly because the ratings now factor in recovery levels for creditors from a bankruptcy filing or other restructuring.

RBR observation: Two questions. 1) Why does anyone continue to pay even three or four cents per share for Citadel stock, when it appears shareholders will get absolutely nothing from the coming restructuring? 2) Why have Ted Forstmann and the other directors left the architect of this disaster in place as CEO?

Coming right up: FCC July Open Meeting
The FCC will likely provide a status report on the DTV transition which was executed with much but not universal success 6/12/09, will look at a proposal to put some AMs on the FM band, and will unveil a new Chairman, thanks to the Senate's timely confirmation of Julius Genachowski, along with returning veteran Robert McDowell.

RBR observation: While an official DTV update will be welcome, the FM translator plank could be contentious.

Website posts Cash for Clunkers info
Now that the Cash for Clunkers program is the law of the land, cars.com has posted detailed information for consumers who may be interested in taking advantage of the program. The site includes a Vehicle Recommender, where consumers can see what new models might meet their needs. Meanwhile, the New York Times compared the program to European versions.

RBR observation: The cars.com material is a tip sheet for every broadcaster in the United States.

Democrats attack over funding vote
Anybody think that the 2010 mid-terms haven't started yet? Think again. In this case, the Democratic Congressional Campaign Committee is actually taking a page from the Bush-era Republican playbook - attacking Republican reps for voting against a war supplemental bill. Radio in seven districts will benefit.

RBR observation: This should be seen not only as a chance to collect money from Democrats. It is also an excellent opportunity to suggest to the Republican targets of these ads that they take advantage of your station to defend or counterattack.

NTRA radio campaign wins at Cannes
For the third time in five years, a thoroughbred raced home with a top lion at the prestigious International Advertising Festival in Cannes. "And They're Off," the radio campaign for the National Thoroughbred Racing Association, was awarded the sole gold medal award by the judges at the 56th annual Cannes Lions. Click on the headline to hear the ads...

Sunburst expands in Big Easy
John Borders and Don Turner are looking east at the City of New Orleans. Their Sunburst Media of Louisiana currently operates KCIL-FM Houma LA, and they now have a deal in the works to acquire WFNO-AM in Norco LA. The seller of WFNO is Davidson Media Group, headed by Felix Perez.

RBR observation: Davidson has been gradually spinning stations, and Sunburst was in a position to take advantage.

TRANSACTIONS
$175K WEOA-AM Evansville IN from South Central Communications Corporation (John D. Engelbrecht) to BLS Entertainment Inc. (Edward Lander). $10K earnest money, balance in cash at closing. LMA 6/1/97. [FCC file date 6/3/09]

$25K KJNT-AM CP Jackson WY from Ted W. Austin Jr. to Jackson Hole Broadcasting Inc. (Amy Boddes, Ted W. Austin Jr.). $500 deposit, credit for fees paid, $20K note. CP is for Class C on 1490 kHz with 420 w-D, 1 kw-N, ND. [FCC file date 6/3/09]

The Big 89 welcomes "Steve Dale's Pet World"
The Big 89 Chicago debuted "Steve Dale's Pet World" this past Saturday. The interactive radio and internet show will feature the views of certified animal behavior consultant Steve Dale on pet ownership, health and advocacy programs for an improved quality of life for all animals. Dale is touted as reaching more pet owners than any other pet journalist.

WEEI unveils iPhone app
WEEI has unveiled a new multi-functional, interactive iPhone application that gives Boston sports fans an unparalleled mobile phone experience. The new application, via FlyCast, has multiple functions for users, including the ability to listen to WEEI anywhere at any time. The live audio also has a jump back feature, where users can rewind up to two hours on live audio content. The app also offers on-demand content, so Boston sports fans never have to miss a segment or interview that airs on the station. In addition, while listening to WEEI, the new application allows users to access Twitter, so they can share their thoughts on Boston sports.

Michael Jackson news dominates web buzz
The breaking news of Michael Jackson's sudden death dominated the web, causing spikes in traffic and overwhelming social networks such as Twitter and Facebook with bursts of information and updates from millions of users. In comparison, discussions of Jackson far exceeded those of the swine flu scare as well as the inauguration of President Obama. Click on the headline to see data and charts...

Bidders turn out for cinema auction
The Financial Times reports that up to seven bidders are interested in the UK theater chain being sold by Sumner Redstone's National Amusements Inc. to raise cash and protect his investments in CBS and Viacom. However, the FT indicates that first-round bids were less than aggressive.

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Preying on PRA
Another reader weighs in on Al Sergei's commentary in RBR, Viewpoints 6/24/09 #122

The corporations that arguably have nearly wrecked our industry still have the deepest pockets among us, at least until they go bankrupt. In view of reality shifting investment priorities, instead of continuing to try and jam IBOC down our throats via their investments in iBiquity, perhaps they should shift those investments to an alternative talent and product development and music distribution system - one that is all digital and involves no physical product.

In the long run, such a system could eventually replace the corporate record labels, treat artists fairly, again prove that radio drives record sales, and help restore a good name to our beloved once and future medium.

Dennis Jackson
Owner
WCLX/WJZZ/WMEX/
WQQQ/WRIP

Only On RBR.com
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your value
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Media, Markets & Money
Sunburst expands
in Big Easy
Borders and Turner are looking east at the City of New Orleans

Washington
Business Report
Genachowski speaks!
But don't get too
excited about it

Makers & Shakers
Transactions: 5/4-5/8
Brancadora doubles down in Atlantic City

Upped at Sirius XM
Steve Blatter has been promoted to Sr. VP of Music Programming at Sirius XM. That follows the exit of Jon Zellner to Clear Channel Radio.

Glick to give
NAB the biz
Fox Business Network anchor and VP of Business News Alexis Glick will be the keynote speaker for the NAB Radio Show Luncheon September 25th in Philadelphia. And for the price of a single ticket you also get to hear from Ed Christian. What a deal!

Cronkite family
confirms serious illness
Following recent reports that 92-year-old Walter Cronkite is gravely ill, followed by his assistant insisting that the reports about the health of the retired CBS News anchor were exaggerated, his family has issued a statement to clear up the confusion. Cronkite, they said, "is not expected to recuperate."

Conyers faces jail
No, not House Judiciary Chair John Conyers (D-MI) - but it is his wife, Monica, who is President Pro Tem of the Detroit City Council. She pleaded guilty to one count of conspiring to commit bribery, and is facing a maximum prison term of five years. She was just one part of a wide-ranging probe into corruption with the Detroit municipal government. Prosecutors have made it clear that Rep. Conyers has done nothing wrong and is not in any way a part of the Detroit matter.

RBR observation: This must be the bitterest of ironies for one of the top two Congressional overseers of the judiciary branch in the entire United States.

Your Online Community Boards now live at RBR.com
Voice your opinions, share information and ask questions of fellow broadcasters on the new RBR/TVBR Community Forums. Get interactive today - Go HERE to register and participate. Everyone is invited to speak out and mix it up and share in the voice.

Statehouse
battlegrounds 2010
We're in the midst of an off-year in terms of elections, but candidates from coast to coast are lining up to make a career move.

RBR observation: A friendly governor can help make life easier for national candidates, so both parties want as many states in their column as possible.
06/26/09 RBR #124

Web radio Talker
getting serious heat
We're talking FBI heat. Internet radio talker and blogger Hal Turner was arrested after posting an internet entry "...

RBR observation: This case proves two things. First, there are limits to free speech, and second, that communication on the internet is beginning to get the same kind of scrutiny that broadcasters are used to dealing with. The more level the playing field when it comes to speech, the better.
06/26/09 RBR #124

Wall Street gobbles
up XM bonds
XM Satellite Radio, a subsidiary of Sirius XM, had planned to sell $350 million of senior secured notes to refinance existing debt, but the Wall Street response was so strong that the offering was increased to $525.75 million. That gave Sirius XM some financial flexibility.
06/26/09 RBR #124