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Volume 24, Issue 155, Jim Carnegie, Editor & Publisher
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Thursday Morning August 9th, 2007
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Radio News ®
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Clear Channel sale to Devine craters;
11 markets back in play
Chris Devine's Blue Point Media, one of the first big buyers announced in the Clear Channel Radio divestitures of small and medium market clusters, will not be a buyer after all. Clear Channel told its managers at the 11 markets involved yesterday that the 45.7 million bucks sale of 35 stations, mostly in the west, to Blue Point will not be going to closing and the stations are back on the market. An internal memo to managers of the 11 clusters says Clear Channel intends to move promptly to identify a new buyer, and, as such, the managers can expect to get requests for updated market data. Here are the Clear Channel clusters formerly going to Blue Point.
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Market name & CCU market number
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Arbitron Rank
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Duluth, MN - Market 424
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204
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Billings, MT - Market 403
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260
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Cheyenne, WY - Market 240
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290
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| Casper, WY - Market 239 |
297
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| Bozeman, MT - Market 404 |
NR
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| Burlington, IA - Market 197 |
NR
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| Laramie, WY - Market 420 |
NR
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| Missoula, MT - Market 405 |
NR
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| Pocatello, ID - Market 204 |
NR
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| Shelby, MT - Market 406 |
NR
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| Twin Falls, ID - Market 206 |
NR
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Source: Clear Channel Communications SEC filings, FCC filings and announcements
RBR observation: There had been rumors for some time that this deal was in trouble. Devine and partner Bruce Buzil (who was not a part of Blue Point) had put some of their other radio companies - Millcreek Broadcasting, 3 Point Media - Delta, 3 Point Media - Franklin and 3 Point Media - Utah - into Chapter 11 bankruptcy reorganization a few months ago. That didn't inspire confidence and Devine apparently lost his original financing for the Clear Channel deal. There were attempts to find a new lender, but, alas, now the deal is dead.
Flat quarter for Cumulus
That was what analysts had been expecting, but they won't get to talk to CEO Lew Dickey about it, since Cumulus Media isn't doing conference calls while its 1.3 billion bucks going private transaction is pending. The company's announcement says Q3 is pacing down 1%. For Q2, revenues were down just a few thousand bucks, so flat at 87.3 million. Station operating income (SOI), however, was up 4.9% to 33.8 million as Cumulus cut out some costs. Net income was six cents per share, beating the Thomson/First Call consensus by two cents. On a pro forma basis, Cumulus reported that revenues were up 1.1% and SO up 4.9%. The pro forma numbers exclude the stations in Houston and Kansas City that Cumulus Media contributed to Cumulus Media Partners LLC - the private company that owns the former Susquehanna Radio stations, with Cumulus as manager and part owner.
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SWMX partners with Zimmerman
for "Z-Media Exchange"
Ft. Lauderdale-based Zimmerman Advertising says it has found a way to modernize media buying, via Z-Media Exchange - a new partnership between Zimmerman and the SoftWave Media Exchange electronic ad marketplace for radio and television. Powered by SWMX's technology, Z-Media Exchange gives Zimmerman's team a web-based interface in the style of Priceline.com, where they can instantly grab up available inventory in radio, cable and local broadcast television for its clients' sustaining (flighted) and DR campaigns.
| Read More... |
RBR observation: The deal with Zimmerman may help SWMX move its business forward. It is not, however, an equity investment, so SWMX is still looking for 10 million in new equity capital - and so far its lender has let an August 1st deadline slide. The Zimmerman deal may help in that regard though, since it handles about two billion in business annually and will now be paying SWMX a transaction fee for all activity taking place on its online platform.
 Will Congress shut down
2008 Olympics?
How do you fill a 3,600 hour programming hole? NBC may be looking at just that situation, as well as scrambling to make up associated revenue, if a resolution submitted by eight Republican members of the House of Representatives becomes official US policy. And, of course, Westwood One, the US radio rights holder, would have a problem as well. The legislators are considering a boycott of the 2008 Olympics, scheduled to be held in China, as a protest against "human rights abuses." According to AFP, the measure is sponsored by Dana Rohrabacher (R-CA), pictured, and lists Ileana Ros-Lehtinen (R-FL) as a co-sponsor. Her support is critical, since she is Ranking Member of the House Committee on Foreign Affairs, where the issue is expected to be brought up for debate in September. And the measure may have legs - AFP said the it is likely to pick up support on the other side of the aisle. NBC just announced that it is air to cover a record-breaking amount of footage from the event, which is to run from 8/4-24/08, although much of the 3.6K hours of coverage will be streamed online.
RBR observation: The Olympics team up with elections to bestow on the television industry to two year roller-coaster revenue cycle, although the Olympics is a direct boon to only one network, the event helps numerous owner/operator companies, and causes business spill-over that benefits many other media outlets, including radio, as displaced advertisers look away from (in this case) NBC to market their wares. NBC will no doubt want to suggest that lawmakers find some other way to express their objections to Chinese policies.
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McCaskill joins ranks of XM/Sirius foes
Frosh Senator Claire McCaskill (D-MO) has fired off a letter to Assistant AG Thomas Barnett and FCC Chairman Kevin Martin in opposition to the pending merger of satellite audio services XM and Sirius. According to the National Association of Broadcasters, she becomes the 82nd federal legislator to do so. She quoted the FCC's own 1997 service-founding words to the effect that "one licensee will not be permitted to acquire control of the other remaining satellite DARS licensee." She added, "This rationale holds true today." Discussing the benefits of competition, she noted, "Sirius has said it would agree to a condition placed on the merger to not raise subscription prices; however, this is an acknowledgement that the market, absent this condition, would not protect consumers." She added that she was not pleased with the unaddressed issue of interoperable equipment, noting that anyone wanting to switch from one service to another must by a new radio, and as it stands now a subscriber looking for pieces of both service would need a receiver from each company, or would have to by a new interoperable one when it is eventually made available. "While XM and Sirius argue that merger approval will enhance the availability and distribution of interoperable equipment, it is unclear how long that may take or how solid those guarantees are."
Murdoch to sell off Ottaway Newspapers,
invest in rest of Dow Jones
Our prediction was dead on (7/19/07 RBR #140). Rupert Murdoch said in yesterday's News Corporation quarterly conference call that he intends to sell off Ottaway Newspapers, the local newspaper chain, but will keep the rest of Dow Jones once the acquisition closes. He plans to invest in growing the Dow Jones assets and, without giving specifics, said he hopes to expand internationally and do more non-business news to make The Wall Street Journal a stronger competitor to The New York Times. Will News Corporation be able to make use of the WSJ for its Fox Business Channel, launching in October, despite its long-term contract with CNBC, owned by GE's NBC Universal? Murdoch told analysts that the contract covers only business news and appearances by WSJ reporters. "There are a lot of other things that we can do to associate ourselves," he said. Murdoch said, however, that News Corporation is not in negotiations to buy out the CNBC contract.
BE HD Radio transmitter
lowered in by helicopter
A helicopter lowers KDNN-FM's new BE FMi 25T HD Radio transmitter through a narrow access in the roof of the Century Plaza in Honolulu. Broadcast Electronics custom built the 25kW HD+FM transmitter to be completely disassembled, if necessary, to move into place. To complete KDNN's conversion to HD Radio, a BE field service engineer is on site this week to reassemble the transmitter and commission it for service. KDNN is a Clear Channel Radio station and is the fourth station in Honolulu to implement HD Radio using a BE transmitter.
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| Wall Street Media Business Report TM |
New stock buyback at Emmis
Emmis Communications announced late yesterday that its board of directors has authorized a new stock buyback of 50 million bucks. “Transactions may occur from time to time, either on the open market or privately negotiated,” the company said.
Salem to pay special dividend
For the second time ever, Salem Communications announced that its board of directors declared a special cash dividend on the company's stock. Salem will pay 42 cents per share on its Class A and Class B common stock. The special dividend will be paid on August 23rd to shareholders of record on August 20th. In all, Salem will pay out about 10 million bucks to its shareholders. "Last year we paid a special dividend of 15 million, our first ever as a public company. This year, despite challenges facing the broadcast sector, Salem Communications continues to generate FCF and bring incremental value to our shareholders. After considering available options, our board of directors determined that this new special dividend of approximately 10 million was the best way to allow our shareholders to benefit from this growth," said CEO Ed Atsinger.
Double digit quarter for News Corporation
News Corporation closed out its fiscal year in fine form, with fiscal Q4 (April-June) posting net income from continuing operations of 1.2 billion bucks, up 18%. Revenues rose 9% to 7.4 billion. The cable network business was a powerhouse, with operating income up 46% to 284 million, with credit for the gain given to Fox News Channel (up 41%), the Regional Sports Networks, FX and the Fox International Channels. Television operating income fell 18 million for the quarter to 385 million, with the Fox network up, but the Fox O&O stations down - and, of course, a loss from MyNetworkTV. In the company's conference call, COO Peter Chernin said that the losses by MyNetworkTV over the past year "were not tolerable losses," but he noted that the new network's loss decreased by 50% in Q4 after a change in programming. Looking to fiscal 2008, now underway, News Corporation CFO David DeVoe projected that operating income growth will be in the low teens. That does not include any impact from the Dow Jones acquisition.
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Ad Business Report TM
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 ESPN Radio stations
sign for PPM
Arbitron announced ESPN Radio has entered into a multi-year agreement for Arbitron's Portable People Meter radio ratings services for its five O&O stations. Radio stations covered by the deal include: 1050 ESPN Radio, New York (WEPN-AM); 710 ESPN, Los Angeles (KSPN-AM); ESPN Radio 1000, Chicago (WMVP-AM); 103.3 FM ESPN, Dallas (KESN-FM) and ESPN Radio 1250 AM, Pittsburgh (WEAE-AM). "We have been looking forward to participating in the technology since its conceptual stage," said Traug Keller, SVP/ESPN Radio and ESPN Deportes. "We are confident that this new methodology for tracking radio listening habits will accurately reflect the vitality and immediacy of the medium and, in our case, the compelling power of the ESPN brand for our radio listeners. We're excited about the dialogue that this information will spark with the advertising community." Beginning in October, New York is scheduled to become the third radio market in the United States to be measured by the PPM. Philadelphia was the first market to make the full transition to PPM measurement in April and Houston will make the full transition in July. Over the next three years, Arbitron is scheduled to deploy PPM in the top 50 markets in place of the paper and pencil diary method that the company has employed to collect radio audience estimates since 1965.
Who's Your Daddy sponsors
''Days of Summer'' campaign
Who's Your Daddy Energy Drinks has renewed sponsorship of CC Radio's Channel 933 San Diego. The 13 week annual campaign was designed to give Southern California residents the latest information on the best ways to enjoy the summer season. The recently launched effort aggressively promoted Who's Your Daddy in over 780 promo spots. During the sponsorship, Channel 933 agreed to host six events during the campaign dedicated to enhancing consumer awareness of Who's Your Daddy. Each event will be approximately two hours long, and will include the station's promo crew and an air personality. At one of the summer promotion events, the station will give away 93 car keys to listeners and an invitation for listeners to attend an end of summer beach party hosted by Channel 933. One lucky winner will drive away in a brand new car.
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| Media Business Report TM |
Journal completes newspaper sales
Journal Communications has 28.5 million in its corporate coffers after completing the last of three sales of clusters of community newspapers that were announced in June (6/20/07 TVBR #120). The sale of papers in New England was the last to be completed, following sales in Ohio and Louisiana. Under the New England agreement, Hersam Acorn Community Publishing LLC acquired the assets of Journal Community Publishing Group's Connecticut and Vermont clusters - consisting of 11 community papers, two printing facilities (in Trumbull, CT and Bennington, VT) and five shopper products. The Connecticut operations do business under the names "Hometown Publications" and "Trumbull Printing." By selling the three clusters in New England, Ohio and Louisiana, Journal Communications said the company will be able to turn its focus to deepening its media offerings in its important Wisconsin and Florida markets.
Peter Pan Peanut Butter returns
 Peter Pan Peanut Butter will be on store shelves beginning in August, supported by increased distribution and strong consumer demand, plus a 100% satisfaction guarantee. This, after salmonella was found in some of the jars a few weeks ago, forcing the brand from the shelves temporarily As of 8/7, the top 30 Peter Pan grocery retailers plan to return this consumer favorite to their shelves. In fact, three of the top five Peter Pan retailers in the nation have increased distribution of the returning Peter Pan Peanut Butter items, ensuring consumers will be able to find it on store shelves nationwide.
| Read More... |
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| Media Markets & Money TM |
Lazer takes Mapleton's Salisbury stake
When California radio operator Mapleton Communications acquired KWWV-FM & KXTY-FM in the San Luis Obispo market, it knew it could only keep one of the stations. Another California group with stations in the market has spoken for KXTY-FM. Alfredo Plascencia's Lazer Broadcasting Corporation is actually stepping into the deal in place of Local Media LLC, and will pay accumulated interest an LM escrow account, and will add in two payments totaling 200K. It will join Lazer's KLMM-FM & KLUN-FM to form a three-FM superduopoly cluster. The actual licensee of the station is Salisbury Broadcasting Corp., headed by Charles Salisbury. Mapleton is headed by Adam Nathanson.
Close encounter in Flagstaff
Walker Radio is officially in business. James R. Walker's company closed on its first radio station, KFZA-FM in Flagstaff AZ. Tower Investment Trust was the seller. According to broker Richard Kozacko of Kozacko Media Services, the sale went in the books at 2.5M.
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| Washington Media Business Report TM |
Union gets behind artists
The Broadcasters' Caucus of the American Federation of Television and Radio Artists (AFTRA) has lined up with recording artists who want performance fees whenever their work is spun on a broadcast outlet. The members, which include announcers, DJs, hosts and journalists, said they "...vigorously support their fellow members who are recording artists and singers in the effort to extend a public performance right in sound recordings. Recording artists, singers and musicians deserve to be fairly compensated when the sound recordings they create are broadcast over the air on terrestrial radio."
RBR observation: It's always nice to score points talking about deserving artists, while conveniently forgetting to mention corporate executives in the recording industry who stand to benefit from what the radio industry is calling a performance tax. Of course, sending money to record execs will mean that there will be that much less money to spend on announcers, DJs, hosts and journalists.
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| Entertainment Media Business Report TM |
ABC 24-hour formats reduce local avails
ABC Radio Networks' Today's Best Country is removing three minutes of its top of the hour local avails. Affiliates have been given 30 days' notice of the change, and will still have three and a half minutes of local time at the top of each hour. ABCRN tells us this is being done to give the format a more modern, music-intensive format and that no other formats are affected.
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| Internet Media Business Report TM |
 Hearst to acquire Kaboodle
Hearst Corporation will acquire Kaboodle, a leading social shopping community where consumers discover, recommend and share products. Kaboodle (www.kaboodle.com), which will become a wholly-owned subsidiary of Hearst, will be managed by both Hearst Interactive Media and Hearst Magazines Digital Media unit. With this acquisition, Hearst will gain one of the leading sites specializing in social shopping, a combination of online shopping and social networking. Kaboodle's social shopping community is changing the landscape of online shopping by connecting people with similar taste, and tying together the entire shopping process, from product discovery to purchase. Kaboodle launched its public beta in 2006 and already has more than 2 million unique monthly visitors. "Kaboodle is a rapidly growing business in a distinctive and fascinating space," said Kenneth Bronfin, president, Hearst Interactive Media. "We are delighted to become a significant player in the social shopping space and believe that Kaboodle will bring to social shopping what MySpace has brought to social media. This acquisition will enable Kaboodle to further expand its content and service offerings while also significantly increasing its advertiser base. In two short years, Manish and his team have created a very attractive business."
Scripps Networks acquires Incando
Scripps Networks has bought Incando Corporation, its second new media purchase in less than a month. Incando is known for its personal media sharing service Pickle.com and the user-generated content management platform Powered by Pickle. Incando's Web2.0 technology enables speedy uploads of photos and videos from computers, mobile phones or digital cameras to any Web site and will enhance the user-centric, social media and personalization functionality around Scripps Networks' lifestyle content.
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| Transactions |
385K WZLM-FM Goodwater AL from Great South Wireless LLC (Paul Reynolds et al) to Lake Broadcasting Inc. (John Kennedy, Erick Wicklund). 20K escrow, balance in cash at closing. LMA 7/1/07. Seller may buy back station for greater of 700K or 10X discounted 12-month cash flow. [File date 7/13/07.]
10.00 FM CP Altoona PA (Hollidaysburg PA) from Friends of Radio Maria (Florinda M. Iannace) to Radio Maria Inc. (Joseph Fugolo et al). Cash. CP is for Class B1 on 88.1 MHz with 450 w @ 1,365'. [File date 7/13/07.]
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| Stock Talk |
Market up, radio stocks down again
How low can they go? Radio stocks fell again on Wednesday, even as the Dow Industrials rose 154 points, or 1.1%, to 13,658, and other broad indices were up as well. Wall Street was cheered by strong earnings from Cisco.
The Radio Index, however, fell for the 13th straight session, dropping 1.393, or 1.1%, to 124.627, the lowest level since December 27, 2000. Some moves were dramatic. Westwood One, now a penny stock, plunged 10.8%. Radio One also recently became a penny stock. Its Class D fell 10.6% and its Class A was down 9.8%. Moving the opposite direction, with no news to account for it, was Entercom, up 12.2%.
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| Radio Stocks |
Here's how stocks fared on Wednesday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron
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ARB
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54.33
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+0.27
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Google
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GOOG
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525.78
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+9.76
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Beasley
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BBGI
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7.63
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-0.25
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Hearst-Argyle
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HTV
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20.58
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+0.78
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| CBS CI. B |
CBS |
 |
31.96
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-0.15
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Journal Comm.
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JRN
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10.41
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+0.61
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| CBS CI. A |
CBSa |
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31.85
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-0.24
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Lincoln Natl.
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LNC
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61.33
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+0.82
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| Citadel |
CDL |
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4.63 |
+0.28 |
Radio One, Cl. A
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ROIA
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3.61
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-0.39
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Clear Channel
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CCU
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36.82
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+0.03
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Radio One, Cl. D
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ROIAK
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3.56
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-0.42
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Cox Radio
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CXR
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12.74
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-0.43
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Regent
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RGCI
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3.36
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+0.14
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Cumulus
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CMLS
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9.91
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-0.15
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Saga Commun.
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SGA
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6.65
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-0.10
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Debut Bcg.
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DBTB
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1.15
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+0.03
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Salem Comm.
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SALM
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7.74
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-0.62
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Disney
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DIS
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34.29
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-0.26
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Sirius Sat. Radio
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SIRI
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3.07
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+0.06
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Emmis
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EMMS
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5.70
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+0.25
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Spanish Bcg.
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SBSA
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2.97
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unch
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Entercom
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ETM
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23.91
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+2.59
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SWMX
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SMWX
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0.08
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+0.01
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Entravision
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EVC
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8.40
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-0.06
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Westwood One
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WON
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3.95
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-0.48
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Fisher
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FSCI
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49.00
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-0.73
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XM Sat. Radio
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XMSR
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12.00
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+0.57
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Bounceback
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 We want to
hear from you.
This is your column, so send your comments and
a photo to [email protected]
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Below the Fold
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Ad Business Report
ESPN Radio
Stations sign for PPM...
Media Markets & Money
Lazer takes
Mapleton's Salisbury stake it knew it could only keep one...
Washington Media Business Report
Union gets behind artists
AFTRA has lined up with recording artists who want performance fees whenever...
Internet Media Business Report
Scripps Networks acquires Incando
2nd new media purchase in less than a month...
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Stations for Sale
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The Exline Company
AMs - San Jose,
Salt Lake City, Fresno
FMs - Northern CA, Coastal CA,
Central CA, Idaho, Oregon
Call Andy McClure or Erick Steinberg
(415) 479-3484 [email protected]
MCH Enterprises, Inc.
CA Coast FM: $1.5M
NV Boomtown: $895K
www.mchentinc.com
805.680.2265 (cell)
Florida
2 FMs, 1 AM
Unrated Panhandle Market
Best sales year ever in 2006
Gordon Rice Associates
(843) 884-3590 or
E-mail Gordon Rice Here
 Market your Stations For Sale
in our daily epapers.
Contact
June Barnes
[email protected]
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More News Headlines
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Apollo Group to buy online ad network Aptimus
Apollo Group, best known for owning the for-profit University of Phoenix, will acquire online ad network Aptimus for 6.25 per share in an all-cash transaction valued at 48 million. Said Aptimus CEO Rob Wrubel about the deal, "This is a significant opportunity to deliver our business vision to one of the most important education companies in the market, improving their ability to reach new students." Aptimus will continue to provide its services to Internet publishers and advertising customers in other industries. Similarly, Apollo will continue to work with AOL, its subsidiary Advertising.com, as well as with other digital media affiliates and publishers.
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SmartMedia Magazine
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Coming in September
FALL NAB ISSUE
SPECIAL DISTRIBUTION:
NAB RADIO SHOW
Radio Roundtable:
Radio execs find solutions.
Media Markets and Money:
What's attractive to equity capital these days?
Political Advertising:
Greg Pinello, GMMB: Political dollars for radio: The need for there to be more ideological diversity in the news-talk format; Tom Edmonds, a Republican strategist with Edmonds and Associates
HD Radio:
Monetizing Conditional Access
New Media:
Gary Arlen: YouTube, Joost and the emerging Fox-NBC website are just the start of big bandwidth video via the Internet.
Streaming:
The impact of CRB Royalty rates on webcasters and streaming ads.
For advertising
information, contact:
June Barnes
[email protected] 803-731-5951;
Jim Carnegie
[email protected] 813-909-2916 or
Carl Marcucci
[email protected] 703-492-8191.
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RBR Radar 2007
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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Will the good old days ever return?
Regent CEO Bill Stakelin's long career in radio in both large and small markets, plus a stint heading the RAB, CL King analyst Jim Boyle asked whether, after more than six years of slow-to-no-growth, is this still a cyclical downdraft or a long-term change? Stakelin said the impact of new media has changed the equation, but that online is a big opportunity for radio. "There's gold in them thar hills and we think we're good enough to mine it on behalf of our shareholders." Boyle asked Stakelin to predict the future, "When the larger markets and all of us regain our focus on the fact that this is a local-based, local-driven advertising medium and we get back to the basics of selling our local markets and serving the advertisers and their needs in those markets - be it in Buffalo or Watertown, New York - then I think we will have more control over our own destiny and how we can drive revenues and increase profits."
RBR observation: Lets also add leadership when radio owners stop being portfolio managers and become operators. When they loosen the money strings to research, marketing, programming then radio will see the growth. When we have the creativity locally we will have the growth.
08/08/07 RBR #154
Is credit tightening threatening radio dealmaking?
Despite the recent roiling of the credit markets, the Wall Street consensus is that Chairman Ben Bernanke and his fellow Fed members won't change rates today. And, unless there are more drastic changes in the economy, they are viewed as likely to stay the course for many, many months to come. Deals of that sort require major financing commitments and the lenders who do those big deals (and who typically work with the very large private equity funds) are the ones now moving first to tighten terms or pull back on lending commitments.
RBR observation: Clear Channel must be nervous about getting to the closing table on the biggest deals from its radio divestitures, since only a few of the smaller deals have actually closed thus far. American Security Capital Partners not only switched radio operators, but also bankers for the 452 million bucks purchase of 187 stations by what's now called Frequency License LLC. When last we heard, the new financing was still being put together for what is far and away the biggest buy from the Clear Channel portfolio thinning. Not today, maybe not next month, but if credit gets tighter and threatens to slow down the economy, Bernanke and the Fed will need to lower rates and keep economic growth from flat-lining. If he stays too focused on inflation, to the exclusion of all other economic factors, he runs the very real risk of repeating the foolish policies of his predecessor who ran the US into an unnecessary recession back at the start of this decade. (Complete details in RBR)
08/07/07 RBR #153
Not Bull No Longer Bear
Slew of upgrades from BofA analyst Jonathan Jacoby isn't a bull, but at least he's no longer a bear when it comes to radio stocks. Stock prices have fallen to what Jacoby says reflects his slow growth long-term view, so he's upgraded Citadel, Cox Radio and Entercom from "sell" to "neutral." Jacoby had downgraded the trio to sell back in November, when the Wall Street consensus was that 2007 radio revenue growth would be in the 2-3% range. "We argued that persistent audience erosion would cap average top-line growth at approximately 1% over next five years and at less than 2% over the next ten years. Seven months into '07, it is evident that radio's best hope is for flat revenue this year. And investors seem to have responded to the continued malaise by revaluing the sector, which now reflects our tempered long-term view," Jacoby said in his update to clients.
08/06/07 RBR #152
Arbitron defends
PPM training for agencies
Responding to the blistering attack from Cox Radio CEO Bob Neil (8/2/07 RBR #150), Arbitron notes that is has provided training on Portable People Meter (PPM) ratings to hundreds and hundreds of agency buyers, planners and managers. By the numbers, Arbitron says it conducted about 200 training session in 2006 (stations and agencies combined), about 240 station training sessions and nearly 200 agency training sessions in the first six months of 2007, with most in Houston and Philadelphia, the first two markets to go live with PPM. Thus far, some 234 planner buyers, 284 media planners, 701 media buyers and 451 agency managers have attended Arbitron PPM training sessions. "All those facts aside: Training the agencies does not preclude them from testing radio t! o see if they can get lower prices. How radio responds to this pressure will be important to the outcome," said Arbitron Sr. VP of Press and Investor Relations Thom Mocarsky.
08/03/07 RBR #151
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