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Volume 23, Issue 178, Jim Carnegie, Editor & Publisher
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Wednesday Morning September 13th, 2006
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Radio News ®
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 Regent cashes out big shareholder
The Waller-Sutton investment group is no longer a shareholder of Regent Communications and its two representatives have resigned from the Regent board. Under a little-noticed agreement signed last month, Regent agreed to buy back all of Waller-Sutton's stock and warrants for 12.1 million bucks. That included 2,491,554 shares of stock and warrants to buy another 650,000 at five bucks per share, which is above where Regent's stock has been trading. Waller-Sutton was an early investor in Regent and William Ingram had served on the Regent board since 1998. He and Andrew Armstrong Jr. resigned from the board last month after striking the deal to sell all of Waller-Sutton's stock and warrants back to Regent. The money has now changed hands and Waller-Sutton no longer has any stake in Regent, although Ingram personally retains 100,000 shares and warrants to purchase an additional 10,000. Since the resignation of the two board members, Regent CEO Bill Stakelin has announced a trio of deals to reshape the company - selling its California stations for 17.5 million, selling an Indiana FM for 1.5 million and buying a Buffalo cluster from CBS for 125 million.
Moonves says radio back on track
CBS Corporation CEO Les Moonves expressed confidence in CBS Radio at a Merrill Lynch investor conference yesterday, saying radio is now positioned for a much better year in 2007. He said radio is heading in the right direction, noting that Opie & Anthony and some other new shows are building ratings, while he didn't mention the gap they are trying to fill from the loss of Howard Stern. Moonves also noted that CBS Radio is figuring out ways to bring in new revenues. He said internet streaming as brought in 10 million bucks already this year "and most of that is all profit." Noting that CBS Radio has now sold stations in six of the 10 non-core markets that it put up for sale, Moonves said to expect the rest of the sales to be announce by the end of this year. The total so far is 432 million and Moonves said the final tally will be over a half billion bucks.
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 Martin climbs Capitol Hill
For Kevin Martin it must have been a Charles Dickens moment. It wasn't the best of times or the worst of times, but he found out on the one hand that he was regulating too much and, on the other, not enough. It all depended on whether he was being questioned by Sen. John Sununu (R-NH) or Sen. Byron Dorgan (D-ND). All in all, Martin's nomination for a second term as FCC Chairman appears to have clear sailing in the Senate. Sununu, who is completely against any form of mandated Internet neutrality provision, wanted to make sure that Martin had no intentions of imposing such a regime, nor to add taxes for access nor impose any kind of regulation of Internet video or audio content. Martin gave an answer to a Jim DeMint (R-SC) question which clarified, in DeMint's mind anyway, that he would not restrict an ISP provider's ability to set carriage prices as it sees fit. This put net neutrality proponent Barbara Boxer (D-CA) on the warpath, saying that Martin was essentially saying that toll lanes and other fees were OK, robbing the Internet of the freedom and service equality that has made it what it is. The other big issue was media ownership, closely examined by Dorgan. He got Martin to admit that the 6/2/03 rulemaking led by Michael Powell and affirmed by Martin's vote may have gone too far. Asked by Dorgan if it gave him pause that one company might own eight radio stations, three television stations a dominant cable system and a dominant newspaper in one market, Martin said yes, it did. He promised that a study of localism started by Powell will be a prominent part of the new ownership proceeding.
RBR observation: Dorgan indicated he looked forward to working with Martin on this and other issues, a sign that he will have the vote of at least one senator who figures to remain a sharp critic of the FCC. We think Martin will easily make it through for a second term, and expect that NTIA nominee John Kneuer, who was almost an afterthought in the questioning, will also be confirmed.
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Boxer lands sucker punch during sparring with Martin
Senator Barbara Boxer (D-CA) had the surprise of the day at the Commerce Committee's hearing on the re-nomination of Kevin Martin to continue his chairmanship of the FCC. She produced a draft copy of what she said was the FCC's localism study, said it contained powerful material, and wondered just who it was who was stifling it. She received it anonymously, and Martin admitted far from seeing it, he didn't know it even existed, nor had he heard of its existence from any of his 8th Floor colleagues. Boxer did not go into its contents at length, but said it showed that locally-owned broadcast stations averaged five minutes more local news than those of distant owners, a fact which flew in the face of the Commission's 6/2/03 desire to allow distant owners to increase their broadcast holdings. She said it should have been made public long ago, and that she intended to get to the bottom of the apparent attempt by someone in the FCC to bury it. Martin promised to read it, and indicated that localism, as well as diversity and competition, would be guiding principals in the proceeding on media ownership.
 Clock ticking
for Univision topper
Televisa CEO Emilio Azcarraga Jean is going to have to move quickly if he hopes to yet snatch Univision from Haim Saban and his backers. The New York Times reports that Televisa is still working on a bid of at least 38 bucks per share to top the winning bid of 36.25 submitted by the Saban group. Shareholders are set to vote September 27th on accepting the Saban offer. Unless Azcarraga and his investor group, which includes Bain Capital and Bill Gates' personal investment firm, Cascade Investments, has a higher bid fully funded and ready to go, acceptance of the Saban offer is pretty much a slam dunk, even if Televisa and ally Venevision vote their shares "no." The math hasn't changed since we worked it out for you last month (8/23/06 RBR #164). According to the Times, the Televisa consortium has been working feverishly to put together a topper bid, with numerous meetings and conference calls between the consortium members to decide whether to go ahead with a higher bid. There is still no word on how the buyout offer would be structured to keep from running afoul of the foreign ownership limits for Univision's FCC licenses.
RBR observation: We'll believe it when we see it. Emilio Azcarraga Jean wants Univision so bad he can taste it, but Bill Gates and Bain Capital aren't going to be driven by passion - they want a deal that makes financial sense. That is going to be difficult to put together with the added obstacle of having to pay a 300 million bucks breakup fee to the Saban group.
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Ad Business Report TM
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Reliant Energy launches Hispanic effort in Texas
Reliant Energy has debuted a Spanish-language ad campaign featuring Texas' No. 1 morning radio talk show celebrity and Reliant Energy customer Raul Brindis. The campaign highlights Brindis' endorsement of Reliant Energy and its products and services in a Hispanic-relevant television show format -- a departure from the brand-focused advertising typical of Reliant's past Hispanic advertising campaigns. The spots replicate a television variety show similar to Sabado Gigante. The role of host is played by Brindis, with game show hostess "Lola-Lola," complete with glittering gown and rotating stage. Supporting Brindis and Lola-Lola are backup singers, "the Lolaettes," debuting a Reliant jingle that urges customers to call 1-866-RELIANT to sign up for the electricity pricing plans that best meet their needs. Brindis is a veteran of the Spanish-language radio industry. According to Arbitron, Brindis is the No. 1 Spanish-language radio show in Texas and boasts more than 450,000 listeners weekly in Houston alone. The integrated marketing strategy includes radio, billboards and print featuring Brindis and Lola-Lola in the same manner as the television campaign. The new campaign started airing in September in the Houston, Dallas-Fort Worth, Corpus Christi, the Lower Rio Grande Valley and Laredo markets.
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| NAB Day Time Planner |
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The following will be attending the NAB. Call or email to make your
appointment in advance.
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BROKERS
Todd Fowler/David Reeder/Gene Ferry/Bruce Pollock, American Media Services, Hilton Anatole, 843-972-2200, [email protected], [email protected], [email protected], [email protected]
Jack Higgins/Dan Graves/
Joel Day/Denis LeClair, CobbCorp, LLC., Hilton Anatole, office 202-478-3737, [email protected]
Andrew P. McClure, The Exline Company, Hilton Anatole, Suite 353 office 415-479-3484, cell 415-497-3855, [email protected]
Frank Boyle, Frank Boyle & Co., Sheraton Suites Market Center, 203-969-2020, [email protected]
Cliff Gardiner, Clifton Gardiner & Co., Hilton Anatole, 303-758-6900, [email protected]
Gordon Rice, Gordon Rice Associates,
843-884-3590, Hilton Anatole, [email protected]
Ed Henson, Henson Media, Inc., Louisville, KY, 502-589-0060, Hilton Anatole, [email protected]
John L. Pierce,
John Pierce & Company LLC,
859-647-0101, cell 859-512-3015, Hilton Anatole, [email protected]
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Jamie Rasnick,
John Pierce & Company LLC,
859-647-0101, cell 513-252-1186, Hilton Anatole, [email protected]
Dick Kozacko/George Kimble,
Kozacko Media Services, office 607-733-7138, cell 607-738-1219, Hilton Anatole,
[email protected]
Larry Patrick/Greg Guy/Susan Patrick/Summer Foust,
Patrick Communications, Hilton Anatole
Suite #1034, 410-740-0250, [email protected]
Glenn Serafin, Serafin Bros., Inc.,
office 813-885-6060, cell 813-494-6875, [email protected]
Terry A. Greenwood,
TAG Media Consulting,
Hilton Anatole, office 410-931-3362, [email protected]
LAWYERS
Gregg P. Skall,
Womble Carlyle Sandridge & Rice, PLLC 202-857-4441, Hilton Anatole, [email protected]
TRAFFIC SOFTWARE
Eric Mathewson, Founder and CEO; Wide Orbit; 415-675-6751; Booth 617 and Hilton Anatole Presidential Suite;
[email protected] |
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| Media Business Report TM |
Gap's Forth & Towne launches fall campaign
Gap Inc. is set to launch a new campaign for its Forth & Towne apparel brand. The campaign reflects Forth & Towne's position in the market as a brand that speaks directly to the grown-up chic woman, defining what being fashionable looks and feels like for a new generation of women. The new multichannel effort via, New York-based creative agency AR, supports the opening of 14 new stores Atlanta, Houston, Los Angeles, San Diego, San Francisco, San Jose, Santa Barbara and Seattle this fall. The campaign revolves around the theme: "The Chic Revolution Begins." Print will appear in regional publications in new and existing Forth & Towne markets starting in September, with national magazines, Elle and More, following in December. The campaign will also appear in additional media vehicles including out of home, in-mail and direct mail.
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| Media Markets & Money TM |
 Veronis Suhler Stevenson forecasts growth for radio
The annual Communications Industry Forecast by Veronis Suhler Stevenson (VSS) sees total spending on radio growing by 5.3% in 2006 to 22.01 billion bucks. But there is a hitch - that includes not only traditional radio, but also satellite radio and online radio. The latter two, though still small, are growing rapidly, while VSS sees much slower growth for traditional radio, which saw growth of only 0.3% last year while satellite radio jumped 156.9%. For all of radio - traditional, satellite and online - VSS is projecting average annual growth of 5.4% from 2005 through 2010 to a total of 27.19 billion "as growth in satellite and online radio will augment slower growth in broadcast radio."
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| Washington Media Business Report TM |
Fee for all
Peter Guttman of law firm Womble Carlyle Sandridge & Rice has sent out the firms latest update on FCC fees, which have been increased based on a 7.7% increase in the Consumer Price Index from 10/03 to 10/05. The FCC takes that number, applies it the the current fee and rounds to the nearest five dollar figure. The fees apply to processing fees for anything from a license renewal to a call letter change.
| See old and new numbers here |
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| Entertainment Media Business Report TM |
 WPEN launches
female sports talker
Not since The Fabulous Sports Babe?: Greater Media's Sports Talker WPEN-AM Philadelphia will debut America's first all-female sports talk radio show. The "Fantoo Girls" will officially kick off their show from 9am-10am on Saturday mornings beginning 9/16. Carol Doroba and Robin McConaughy join the New Sports Talk 950 from their popular national sports-talk podcast: Fantoo Girls - Where the Girls Talk Sports, which won the distinction of 'Best Sports Podcast' in the 2006 People's Choice Podcast Awards. In addition, they currently author columns on www.PhiladelphiaEagles.com and have a line of apparel for the female sports fan.
Air America, XM add The Young Turks
Beginning 9/18 Sirius Satellite Radio's "The Young Turks" will become Air America Radio's new morning drive-time program. Hosts Cenk Uygur, Ben Mankiewicz and Jill Pike will move their political talker to both Air America and XM Satellite Radio, via the Air America Channel. The show will air live on radios across the country and on video streamed by Limelight Networks at www.theyoungturks.com weekdays from 6 a.m. - 9 a.m. ET.
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| Internet Media Business Report TM |
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News Corp acquiring VeriSign's Jamba unit
News Corp. and VeriSign announced a joint venture to become a global powerhouse in mobile entertainment. The deal has News Corp. paying 188 million for 51% interest in VeriSign's ring tone provider Jamba/Jamster unit, to combine it with Fox Mobile Entertainment assets including Mobizzo, which sells short video clips of TV programs such as Fox's own "24." Jamba will soon release its first products and offerings as a new entity, following the close of the transaction in late Q4, including MySpace Mobile Store and The Simpsons Mobile. Lucy Hood, formerly President of Fox Mobile Entertainment, will become CEO of the joint venture. The new Jamba will offer content from music and media companies, as well as original content created exclusively for mobile. Jamba partners include: Universal Music Group and Warner Music, among others. In addition, Jamba and Fox Mobile Studios have units that create original content ranging from the Crazy Frog sensation, to multiple animated characters, to genres such as Manga, Activism, and X-Sports. The unit is expected to draw from not only top Fox divisions but also News Corp companies around the world. Jamba will build a unique m-commerce engine to enable MySpace users to download ringtones, graphics and animations from top music and media companies. Jamba will exclusively offer mobile content from The Simpsons, through the industry's first subscription package tied to exclusive content called the "Yellow Plan." The plan will include an array of uniquely designed Simpsons mobile content, such as wallpapers, screensavers, ringtones and video. With key centers in Los Angeles and Berlin, the new entity will be the industry's only vertically integrated mobile entertainment company with unique capabilities to produce, market, sell and distribute mobile content globally.
 Sprint mobile sports net
Power View launches
Sprint debut testerday "Sprint Power View," a made-for-mobile sports and entertainment video programming network. With this initiative, Sprint has the ability to provide millions of Sprint Vision and Power Vision customers the latest sports and entertainment news, features and original programming at no additional charge. This studio-based network will cover the gamut of sports and entertainment with a variety of shows. Sprint Power View shows are refreshed several times per day, seven days per week and will originate from the Sprint Power View desk located in NYC in partnership with IMG Media. Currently, Sprint Power View is compatible with dozens of Sprint mobile devices and is viewable via a downloadable Java application. Alternatively, all Sprint Power View shows reside within Sprint TV, on channels 35 and 33, also free of charge.
| See Sprint Power View shows here |
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| Ratings & Research |
2006 Automotive Purchasing and
Media Influences Study released
Newspaper National Network LP released the results of the 2006 Automotive Purchasing and Media Influences Study conducted by GfK Automotive. Study results indicate that newspapers play a critical, much larger role throughout the automotive purchase cycle, not just at the end of the purchase process. The study also reported that the frequency of newspaper readership increases sharply when respondents are in the period three months prior to their vehicle purchase. Two-thirds (66%) of respondents (who read the newspaper at least once a week) read the newspaper every day in the three months prior to purchase; about half (49%) of respondents (who read the newspaper at least once a week) read the newspaper every day in the three months post purchase. Both groups read the newspaper more frequently than the national average. According to MRI, almost one-third (31.4%) of newspaper readers who ("read any daily newspaper") read the newspaper every day ("read 28+ papers in the last 28 days").
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| TVBR TV News |
 New York Times puts
TV group up for sale
In a surprise move, The New York Times Company announced late yesterday that it plans to sell its TV station group and has engaged Goldman Sachs to handle the sell-off. "The decision to explore the sale of our broadcast stations is a result of our ongoing analysis of our business portfolio," said NY Times Co. CEO Janet Robinson in a statement. "These are well-managed and profitable stations that generate substantial cash flows and are located in attractive markets. We believe a divestiture would allow us to sharpen our focus on developing our newspaper and rapidly growing digital businesses, and the synergies between them, thereby increasing the value of our company for our shareholders," she added. (The auction does not include the New York radio stations, which are part of the News Media Group, along with newspapers and related websites.) The NY Times Co. says the Broadcast Media Group (the official name for the TV group) accounted for 4% of total company revenues. In 2006 it is expected to have revenues of approximately 150 million and operating profit of about 33 million. Depreciation and amortization is put at 10 million for the year. Interested? Here is the shopping list. The stations that comprise the NY Times Co. Broadcast Media Group are: WHO-TV in Des Moines, IA (NBC); KFSM-TV in Ft. Smith, AR (CBS); WHNT-TV in Huntsville, AL (CBS); WREG-TV in Memphis, TN (CBS); WQAD-TV in Moline, IL (ABC); WTKR-TV in Norfolk, VA (CBS); KFOR-TV in Oklahoma City, OK (NBC); KAUT-TV in Oklahoma City, OK (MyNetworkTV); and WNEP-TV in Scranton, PA (ABC).
TVBR observation: With recent TV deals starting at 10 times and going up from there, it is easy to put a starting bid of 430 million on this group, if we assume from the announced figures that cash flow is around 43 million (operating profit plus D&A). No doubt the final tally will be more. Like so many old line media companies, the New York Times Co. has been focusing on building its online presence, with the acquisition of About.com a prime example. But it is surprising that the Times Co. would decide to part with the solid cash flow of its TV properties. Unlike Tribune, which is under pressure to sell its underperforming TV properties, these are solid market leaders.
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| Transactions |
1.5M WYNG-FM Mount Carmel IN from Regent Broadcasting of Evansville/Owensboro Inc., a subsidiary of Regent Communications Inc. (William L. Stakelin) to W. Russell Withers Jr. 75K escrow, balance in cash at closing. Duopoly with WRUL-FM Carmi IL. [File date 9/6/06.]
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| Stock Talk |
Stocks jump on Goldman earnings
There is nothing stock brokers like better than to see a stock brokerage company do really well. So, better-than-expected earnings by Goldman Sachs sparked a day of celebratory stock buying. The Dow Industrial average rose 101 points, or 0.9%, to 11,498.
Radio stocks joined in the celebration. The Radio Index rose 3.501, or 2.5%, to 142.740. Cumulus and Salem led the way, up 4.1%, with Entravision up 4%. Regent was the only radio stock to lose ground, down 2%.
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| Radio Stocks |
Here's how stocks fared on Tuesday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron
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ARB
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37.65
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+0.89
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Hearst-Argyle
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HTV
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23.42
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+0.27
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Beasley
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BBGI
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7.21
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+0.01
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Journal Comm.
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JRN
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11.30
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+0.22
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| CBS CI. B |
CBS |
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29.35
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+0.09
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Lincoln Natl.
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LNC
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61.86
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+0.77
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| CBS CI. A |
CBSa |
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29.34
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+0.13
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Radio One, Cl. A
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ROIA
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6.40
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+0.22
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| Citadel |
CDL |
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9.31 |
+0.31 |
Radio One, Cl. D
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ROIAK
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6.43
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+0.21
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Clear Channel
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CCU
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29.80
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+0.13
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Regent
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RGCI
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3.97
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-0.08
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Cox Radio
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CXR
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15.82
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+0.31
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Saga Commun.
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SGA
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8.08
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+0.07
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Cumulus
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CMLS
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10.20
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+0.40
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Salem Comm.
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SALM
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11.53
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+0.45
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Disney
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DIS
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30.21
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+0.44
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Sirius Sat. Radio
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SIRI
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4.05
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+0.15
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Emmis
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EMMS
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12.13
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+0.36
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Spanish Bcg.
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SBSA
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4.37
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+0.14
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| Entercom |
ETM
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25.51
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+0.36
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Univision
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UVN
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35.40
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+0.55
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Entravision
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EVC
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7.72
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+0.30
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Westwood One
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WON
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7.24
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+0.22
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Fisher
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FSCI
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43.36
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+1.14
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XM Sat. Radio
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XMSR
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12.40
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+0.48
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Gaylord
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GET
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45.35
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+1.52
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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
Reliant Energy launches
Hispanic effort in Texas...
Media Markets & Money
Another modest forecast
For Radio growth this time Veronis Suhler Stevenson sees radio growing by 5.3%...
Washington Media Business Report
Fee for all
Update on FCC fees, which have been increased based on a 7.7%...
Ratings & Research
2006 Automotive Purchasing
And Media Influences Study released and it says Newspapers is important...
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Stations for Sale
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AUCTION: Small market AM/FM in the mid-west.
Cash flow 200K. FM CP for 100KW which will provide city grade into rapidly growing top 200 market. For more information, photos and auction detail e-mail Jim Lakoduk, agent,
[email protected].
Pifer's Auction and Realty.
WANTED! FM CP's
(commercial or noncommercial)
John W. Saunders, Media Broker
713.789.4222
[email protected]
Nevada C1: Asking 900K
Possible Terms. Market Favorite
Good Sales-Motivated-Make Offer
Brett Miller - MCH Enterprises, Inc.
805.237.0952
www.mchentinc.com
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Radio Media Moves
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Two more Pres./Market Managers
Clear Channel has named two more people to the post of President and Market Manager, bringing the total to 13. Mike Crusham has moved from running the Miami market to being Pres./MM in Boston. In his place down south, former AMFM and Salem executive George Toulas joins CC Radio as Pres./MM in Miami.
Revett joins Shane
Vetern PD and morning host Renee Revett has joined Shane Media as a programmer-consultant. Revett spent the last 14 years at KXKC-FM Lafayette, LA.
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More News Headlines
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Mentoring program to honor Mildred Carter
The Mentoring and Inspiring Women in Radio (MIWs) group is naming its mentoring program to honor the late Mildred Carter, co-founder of KPRS-AM Kansas City and Carter Broadcast Group. "My grandmother's life was passionately devoted to using the power of radio to build and strengthen our company and its many communities," said Carter Broadcasting President Michael Carter. Skip and Mildred Carter began operating KPRS in 1950 and Mrs. Carter continued to run Carter Broadcast Group for many years after her husband's death, mentoring many new, young broadcasters along the way. She died in 2003 at age 89.
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RBR Radar 2006
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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Nielsen may enter
radio ratings competition
A few months after saying no-thanks to a Portable People Meter (PPM) joint venture with Arbitron, Nielsen Media Research confirms that it has been approached by the Next-Generation Electronics Ratings Evaluation Team about making a late entry in the radio ratings RFP competition. Nielsen Chief Information Officer Jack Loftus told RBR/TVBR that his company was approached by the Next-Gen group, not the other way around, so Nielsen is still assessing whether or not it is interesting in the radio competition, which would pit it against the existing entries of PPM from Arbitron and the Smart Cell Phone-based system from The Media Audit/Ipsos.
RBR observation: Since passing on a PPM joint venture, Nielsen has been working on its own passive meter options for measuring out-of-home TV viewing, which would be used in tandem with its set-top People Meters, currently used in 10 large markets (with more to come) and for its national audience sample. Nielsen sources say the company has been looking at an existing device and one it is developing in-house, reportedly based on Smart Cell Phones. Obviously, any audience measurement device based on either audio encoding or sound-matching (or both) can just as easily be used for radio as for TV. Nielsen provides diary-based radio ratings in several countries overseas, but has shied away from challenging Arbitron in the US radio marketplace after winning the battle for sole domination of US TV ratings.
PS: Do not get overly excited about this and remember Clear Channel approached Nielsen.
09/12/06 RBR #177
The gripes of wrath: Q2 2006
For what it's worth, indecency complaints received by the FCC were way down in Q2 2006 compared to the first quarter, dropping from about 142K to 52K. Most of the action was in the month of May, when 40K complaints came in, with about 11K in April and less than 1K in June. If you're looking for dog-and-pony show-style year-to-year comps, the month's complaint total was fairly horrific, jumping up from only 6.2K complaints in Q2 of 2005.
RBR observation: It's almost impossible to figure out if there is any meaning to the numbers reported here. Perhaps you remember back when one complaint was lodged, acted upon, and later canceled, concerning an airing of the radio cut of Eminem's "The Real Slim Shady," after it had aired over 100K times before from coast to coast without incident. On the other end of the spectrum are massive click and send complaints fired off at the behest of anti-indecency watchdogs where citizens obliging impugn the contents of programming they did not see or hear. And the question remains: Who will be the lucky winner of the first new and improved 325K indecency NAL? If may be just one four-letter word away.
09/11/06 RBR #176
Different views of CCU buyback
Some Wall Street analysts are bullish on the move by Clear Channel Communications to buy back another one billion bucks of its stock. One analyst, however, is taking a different view and complains that stock buybacks haven't done anything to support the company's stock price.
09/08/06 RBR #175
Clear Channel buying more stock
If Wall Street keeps radio stocks beaten down, radio companies will just keep buying back more of their own stock - eventually paying off for the shareholders who remain. Clear Channel has announced a new buyback authorization of one billion bucks over the next 12 months. That comes as the company has bought back 582 million under its previous 600 million authorization.
9/7/06 RBR #174
XM facing SEC probe
To no one's surprise, XM Satellite Radio says it has received a staff inquiry from the Securities and Exchange Commission about how it counts subscribers and calculates the costs of achieving its subscriber targets. The company is already facing lawsuits over those very issues by investors who claim they were misled by XM's counting. XM says it is cooperating with the SEC inquiry.
9/7/06 RBR #174
Regent bulls into Buffalo
Another plank in the CBS Radio sell-off has been revealed, as Regent Communications makes off with the Buffalo herd which includes an AM and four FMs. The pricetag is 125M. The stations include WBLK-FM, WBUF-FM, WJYE-FM, WYRK-FM and WECK-AM. The deal follows the 262M sale of stations in Memphis, Rochester, Cincinnati and Austin to Entercom and the 45M sale of San Antonio properties to Border Media, and brings the total CBS take to 432M, with four more markets still on the shelf.
9/6/06 RBR #173
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Talk Radio Network
Seeking professionals in three areas to join our TRN team. First: Executive Producer on topical subjects, Second: Board Operator with 2 years experience with Telos call-screening software and Third: Staff Engineer that can take initiative. This is a fast paced high pressure environment, must be able to think and act professionally in emergency situations. EOE. For complete details on all three positions
See Radio Careers
Hard finding that key person
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©2006 Radio Business Report, Inc. All rights reserved.
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