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Volume 24, Issue 189, Jim Carnegie, Editor & Publisher
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Thursday Morning September 27th, 2007
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| From NAB2007 |
 2008 looking very different
for TV and radio
Is 2008 "a year in the balance" for radio? Bear Stearns analyst Victor Miller asked that question at the opening for the annual Dickstein Shapiro financing session that kicked off the NAB Radio Show in Charlotte. For the first time since radio deregulation in 1996, TV stocks now trade at a higher average EBITDA multiple than radio stocks. That's come about because the average pure-play TV stock is up 35% this year, while the average radio stock (excluding Clear Channel and Cumulus, who have buyout deals to go private) is down 30%. Miller said television is benefiting from multiple revenue streams, including retransmission consent payments, and expectations that the 2008 election cycle should bring record political spending. The best Miller could say for radio, though, is that it may have to deal with fewer negatives in 2008. Satellite radio is dealing with its own problems. Mainstream operators who have seen ratings and revenues shift to radio groups focused on Hispanic and Urban formats stand to bounce back as PPM rolls out to more markets.
No immediate return to easy credit
There was optimism at the financing session in Charlotte that the current credit crunch will moderate, but no one was predicting a quick return to the type of market that we saw a few months ago before problems in the sub-prime mortgage market spread out and made credit tighter for everyone. Deutsche Bank investment banker Drew Marcus expressed confidence that the Clear Channel buyout will go to closing because the commitments are in place, but he noted that the terms for that deal are not available in the market today. "The banks are all under water. We'll lose money on that financing," he said. As one of the buyers in the Clear Channel deal, Soren Oberg of Thomas H. Lee Partners expressed the belief that the credit tightening will only be temporary. "There's no doubt the tightening of credit availability has limited the ability of equity capital as well for all transactions, including radio transactions," he noted. But with radio's strong cash flows, he suggested that it might be one of the sectors to lead the way out of the credit crunch. But while mega deals may be few for a while, there is still financing available for smaller deals and interested buyers. Garrett Komjathy of GE Commercial Finance said many of his existing clients are anxious to buy spin-offs from the Clear Channel, Cumulus and other mega deals.
RBR observation: For those of who were around for the HLT credit crunch in the early 1990s, this credit tightening, though painful for many, is nowhere near as devastating as what happened then. No one is rushing to sell radio and TV stations for deeply discounted prices. Lenders aren't fleeing the broadcasting business. There are differences of opinion on how quickly investor money will flow back into the market to back mega deals, but for routine deals it's business as usual, with perhaps less generous terms. Life goes on.
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 Time to speak with one voice
"One Voice for Radio" is the new campaign to be formally introduced today by NAB and RAB, but we got a brief advance glimpse yesterday morning during the group head panel at the financing session. In his opening remarks, Bear Stearns analyst Victor Miller had noted that radio was the only industry he knew of that tended to fight its fights in public." According to Emmis CEO Jeff Smulyan, "We need to change the perception of this industry. Panelists noted that the two satellite radio companies and their PR companies have been successful in making the public think they are a major force, even though they still have relatively few subscribers and continue to lose huge sums. "I don't care if Mel [Karmazin] puts them together or not, it's a dog," Smulyan said of the satellite radio business. But he and other group heads said that if regulators do accept the arguments that XM and Sirius compete with a broad range of audio services and allow them to merge, it makes it harder for the FCC to defend ownership limits on AM and FM stations.
The group heads disagreed on whether or not selling inventory via Google and eBay is a good idea. "Google, schmoogle," was the reaction from Saga CEO Ed Christian, but Emmis' Smulyan said such new avenues were worth exploring, since Google has so many more advertisers than the radio industry. Cumulus Media CEO Lew Dickey took issue with the whole idea of selling off last minute inventory at lower rates because it is subject to "spoilage" if not sold. His analogy was the movie industry. Imagine what would happen if tickets for empty seats were sold at half price after the movie beings - it would destroy the whole structure of the movie business. But that's what is happening with selling remnant inventory. "We as an industry have been taking the path of least resistance," he complained. There are efforts, though, to deal with the underlying problem, a lack of demand for radio inventory. When Cherry Creek Radio CEO Joe Schwartz complained that if the radio industry leaders don't go to the Detroit automakers and the big box stores and make their case, then radio will just have to settle for whatever they want to give the industry, Smulyan said the RAB has been reinvented and that is exactly what is now being done. Greater Media CEO Peter Smyth, who also chairs the RAB, said those efforts to get to the chief marketing officers of major advertisers should bear fruit in the next 12-18 months.
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Radio seems like two different businesses
That was the observation from Cherry Creek Radio CEO Joe Schwartz, who notes that in his small markets "we have actually been successful in raising rates." Group heads from the big market side said that radio is in need of stronger leadership and, importantly, pricing discipline. "This industry needs to reinvent itself," said Emmis CEO Jeff Smulyan. While radio may still be perceived as an important medium in the markets where Schwartz operates, Smulyan said what he often hears in the big markets is someone asking whether radio is dead. "An industry that has been flat for the last six years needs to take some chances and do things differently than we have done for the last 85 years," he said. The conversation repeatedly returned to the idea that the biggest groups need to do a better job of creating advertiser demand and holding the line on price cutting. "Everybody is just diving for share," is what Greater Media CEO Peter Smyth said he is hearing from his local managers. "We need leadership. We need pricing discipline," Smyth said. But Saga CEO Ed Christian said he'd been hearing that on such panels for years "and yet we don't have the backbone."
RBR observation: There was no one from Clear Channel on the panel, but it's no secret that it is the company most often accused by others of pricing for share and dragging down CPMs in market after market. It is certainly not the only one to blame, though. Pricing discipline has been a huge problem for years now and we have to agree with Ed Christian that there's been a lot of talk, but not much action when it comes to turning down cheap business. We wait to see if no longer having to answer to Wall Street each quarter will allow a privately owned Clear Channel to move from worst offender to industry leader on the pricing front.
 Missing from the bedroom
If you had already guessed that radio is an afterthought medium from lots of 17-28 year olds, yesterday's report by Fred Jacobs of Jacobs Media on the Bedroom Project confirmed your suspicions. "My parents' generation uses a lot of radio," was a comment from one of the 31 young people in Los Angeles and Columbus, OH who each underwent a two-hour videotaped interview about their media habits. What little interest they had in AM and FM radio was mostly confined to in-car listening. There, with music now largely a commodity, the main attraction was a personality that captured their interest. The good news, though, is that the young people also had very little interest in satellite radio. Jacobs, whose firm conducted the research in league with Arbitron, noted that the participants, even those with limited financial resources, had lots of electronic gadgets, but few subscribed to satellite radio. "Satellite radio has really not made the sale," said Jacobs. iPods are hot, of course, but the key device for most of the participants was their cell phone, not just for phone calls, but photos, texting and other uses. In fact, texting is replacing online instant messaging. Email? How old fashioned and formal.
| For more go here |
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Radio News ®
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FCC's 4K VNR hit begins to mushroom
The FCC's designated VNR specialist Jonathan Adelstein (D) has expressed his satisfaction with the 4K fine levied against Comcast for broadcast of an unidentified VNR (which Comcast is said to be appealing), as have the watchdogs responsible for the original complaint. Both have called for more of the same. It only took another day for these sentiments to register on Capitol Hill, although the topic isn't specifically VNRs. Key House members Ed Markey (D-MA) and Henry Waxman (D-CA) have fired off a letter to FCC Chairman Kevin Martin (R) on the related topic of product placement. "In our view," they said, "the blurring of the line between advertising and content represented by product placement and integration is unfair and deceptive if it occurs without adequate disclosures to the viewing public. In some extreme cases, it may also undermine the integrity of the television programming itself." Markey held a hearing on the topic last May, and noted that the practice was on the increase in television due to the increase of DVR-enabled commercial skipping. "As the use of product placement and product integration in television expand, broadcasters and cable operators should comply in a meaningful way with their statutory obligation to identify what entity is behind sponsored programming and what product is being pitched." They commended Martin for planning a proceeding to look into the matter, and suggested he get on with it with all due haste.
RBR observation: This may have a slight effect on radio, where host-voiced commercials have long been a staple. It is usually obvious that the host is doing a commercial, but script writers will have to make sure it's obvious (as will an ad-libbing host). On the television side, we will not be surprised if television shows soon include a list of placed products and the sponsors paying to place them along with the traditional credits -- and we suspect legislators will demand they scroll by slowly enough for below-average readers to make sense of them. You read it here first.
 GM tentatively settles with UAW
"This agreement helps us close the fundamental competitive gaps that exist in our business,' said GM Chairman/CEO Rick Wagoner. "The projected competitive improvements in this agreement will allow us to maintain a strong manufacturing presence in the United States along with significant future investments." The tentative agreement brings a relatively rapid end to a two-day strike in what Wagoner said "...was one of the most complex and difficult bargaining sessions in the history of the GM/UAW relationship." A major agreement was reached on a health care trust for retirees that will be funded by GM and administered by the union. According to reports, pay and job security issues also figured in the agreement, although details were not made available.
RBR observation: With broadcasters already scrambling to make up revenue from sluggish automotive budgets, the last thing anybody needs is a protracted strike taking place at one of the pillars of the US economy. Here's hoping that those future investments Wagoner was talking about include a significant advertising budget.
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Watchdog not so sure about satmerger
There has been a spate of optimistic predictions lately as to the ability of XM and Sirius satellite radio companies to merge. However, Bank of America Securities' Jonathan Jacoby is not one of them. He notes reports that DOJ antitrust division head Thomas Barnett told legislators that it his agency is moving forward as quickly as possible but that it may need "more information." Jacoby thinks market forces are looking for a 15-45 day window for regulatory blessings, but that this is not likely to be achieved. He discounts the recent Whole Foods merger, where entry barriers are not as steep as they are for satellite radio, and notes the requirement that XM and Sirius change the definition of their business from "satellite radio," where they are a market of two, to "audio entertainment," where they are two among many. He said the FCC may have a hard time explaining why satellite radio is part of a larger market and free to merge, while terrestrial radio is not and is subject to local caps. His ultimate advice, if you're looking for the merger to go through, is to remain cautious.
 Distress sale:
FCC reads Miranda rights
The FCC is finally allowing the sale of WEWC-AM Callahan FL in the Jacksonville market from Circle Broadcasting to Norsan Consulting and Management. The sale was unopposed, but there was a problem with the seller. Its principal, Nestor C. Miranda, was convicted of conspiracy to commit money laundering and actual money laundering, on 11/19/99 and sentenced him to 210 months in prison (the conviction is under appeal). The deal with Norsan, filed 8/24/04, was for 650K. The problem is that Miranda is not legally allowed to profit from sale of an FCC-licensed property while under conviction. However, Miranda says appraised value of the station is 1.375M, and that the entire proceeds of the sale will be put toward repaying debt as well as partially repaying two employees who say they have salary coming. The debts and salaries total over 760K, leaving Miranda some 110K short. The FCC decided it was in the public interest to allow the sale to go through, but stipulated that Miranda shall not be involved with any FCC-licensed property without advance notice. They also included an appendix of debts and stipulated that all proceeds form the WEWC-AM sale are used to satisfy them.
RBR observation: There is no reason to make people suffer because of Miranda's alleged misdeeds. Even if two of the individuals on the appendix, Eleonora A. Miranda (wife) and Amanda Miranda (daughter), would appear to have closer ties to Nestor Miranda than most. The document stipulates that neither have ever been implicated in Nestor's problematic activities in any way.
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| Wall Street Media Business Report TM |
Dog and pony season kicking off
Act III of the 2007 revenue results show is getting set to kick off. Viacom Inc. has set its conference call for Friday, 11/2/07 to discuss its third quarter earnings. The operator of BET, MTV, Comedy Central and more will hit the wires at 8:30 AM Eastern. And its announcement will no doubt be followed by dozens of others. As always, RBR will tune in to the calls so you don't have to.
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Ad Business Report TM
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Network Radio Upfront update
As the annual network radio upfront negotiating season is just beginning, RBR/SmartMedia is providing a weekly progress update, based on conversations with buyers and sellers in the marketplace for our annual two-part print feature. This week, we look at excerpts: How might the new CRB Royalty rates foisted upon radio broadcasters that stream their signal change things for radio advertising? Rate deals were recently struck between SoundExchange and larger webcasters like AOL, Yahoo, Pandora and Live365-and 24 smaller ones. Still nothing yet for radio. Patrick McNew, PHD EVP/Local Media Network (LMN) Director of Operations says if the CRB rates don't get changed for everyone, many will have to shut their doors. "And we are concerned about the commercial load on those that do remain in business. One of the most attractive things about online radio is the low commercial load and the island advertising that is currently the norm. If internet broadcasters are forced to increase commercial loads they will start to sound like terrestrial stations and lose some of their appeal."
 Rich Russo, JL Media's SVP/Director of Broadcast Services, says the whole thing is a joke and is closing the barn door after the horses left. "They didn't control this in the beginning when they should have regulated this like over the air, it turned into a land grab and anarchy. What will happen if the CRB fees happen is that the music sites will cut deals with unsigned artists at a lower fee to stay in business, since they get no airplay anyway, so they don't care, they just want the exposure. The next killer app will be something that plays your iTunes library on your computer but ties into a site that every few songs mixes in one of these unsigned artists, this will effectively solve that problem. Greed will kill the big guy."
 Agnes Lukasewych, VP, Account Director Radio Broadcast, MPG, expects free air play is becoming a thing of the past. "Nowadays technology has made it easier for consumers to access free music downloads and CD sales have seen a steady decline. Gone are the days when terrestrial radio could leverage the fact that they were the only accessible vehicle to increase visibility for artists. Yes, new royalty fees may put some smaller broadcast companies out of the online air play business and it might even homogenize content. But if, as a result there is too much "on-web audio clutter" by those broadcast companies that stay in the game, then we can expect to see a loss of listening appeal and an increase in popularity of subscriber paid commercial free sites."
Kim Vasey, Senior Partner/Director of Radio, mediaedge:cia, observes that overall, big or small-in order to generate the revenues necessary to sustain their stream, the rate structures on pricing will have to increase. "I think the larger 'branded name' broadcast groups or internet channels will be more successful in getting higher rates which will help sustain their business model."
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| Media Markets & Money TM |
WMCU-FM Miami sold
Trinity Evangelical Divinity School is cashing out of its WMCU-FM in Miami, sending the noncommercial FM to another noncommercial broadcaster. According to Kalil & Co., which marketed the station for Trinity, American Public Media is buying the station for 20M. According to reports, APM, the parent of Minnesota Public Radio, is planning to flip the station's Religious format to Classical.
Close encounter in SoCal
LBI Media Holdings, corporate parent of Liberman Broadcasting, announced to the SEC that it has closed on its 25M acquisition of KWIE-FM San Jacinto CA, in the Riverside-San Bernardino market. Riverside is embedded in the Los Angeles market, where Liberman already has two AMs and four FMs.
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| Washington Media Business Report TM |
NAB continues to press white space opposition
The National Association of Broadcasters is continuing its effort to forestall the sudden entry of unlicensed devices into the cracks between licensed television stations. Such devices have recently failed FCC tests, but proponents are still pushing for the right to flood the market with them. IN order to protect this television space, the FCC is utilizing another medium, radio. Adds have been placed on three key Washington DC stations, Citadel's WMAL-AM and Clear Channel outlets WTNT-AM & WWRC-AM, all of which are in News and/or Talk formats. The idea is to put the case in from of regulators and legislators, and perhaps just as important, their key staff members.
|  Listen Here |
RBR observation: Most of the legislators and regulators who have weighed in on the DTV transition have expressed nothing but fear. It is therefore a continuing source of amazement that anybody in Washington would even consider experimenting with unlicensed devices right before the most critical change in broadcast spectrum infrastructure in history. For now, the official stance on white spaces should be "let's wait until the day, some time after 2/17/09, when everybody is actually receiving broadcast television on their set at home, and THEN we'll see what we can squeeze into the white spaces." Period.
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| Ratings & Research |
 Existing home sales fall
to 5-year low last month
U.S. sales of existing homes fell 4.3% to a seasonally adjusted annual rate of 5.50 million in August, the lowest since August 2002, the National Association of Realtors reported yesterday. Sales in August were down 12.8% compared with August 2006. Economists surveyed by MarketWatch were expecting sales in August to fall to a 5.49 million pace. Inventories of unsold homes on the market rose by 0.4% to 4.58 million, representing a 10-month supply at the August sales rate. For single-family homes alone, the inventory represents a 9.8-month supply, the most since May 1989. The median sales price was 224,500, up 0.2% since August 2006. Single-family median prices were unchanged year-over-year at 223,900.
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| Engineering Business Report TM |
HD Radio and Conditional Access:
a powerful combination
By Ray Miklius
To fully appreciate the impact that conditional access HD Radio technology will have on FM radio, we need to think back to the days before cable television. As recent as the 1970s, the entire viewing experience was summed up in three or four TV channels. If ABC, CBS, NBC or the local public station didn't show it, it simply wasn't television. Then, in the early 1980s, cable television began to add variety to TV programming by introducing movie and specialty channels using a form of conditional access that we've come to know as pay-per-view. Some of you may even recall the first major pay-per-view event, which occurred on September 16, 1981, when Sugar Ray Leonard fought Thomas "Hitman" Hearns for the Welterweight Championship. More than half of Viacom Cablevision's viewers subscribed to the fight, and people started to give serious thought to the pay-per-view business model for television.
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| Transactions |
55K WMCH-AM Johnson City-Bristol-Kingsport TN-VA (Church Hill TN) from Tri-City Radio LLC, related to American Media Services (Edward Seeger, Andrew Guest et al) to WMCH Radio Inc. (Kenneth Hill). 5.5M earnest money, balance in cash at closing. Superduopoly with WPWT-AM Colonial Heights TN, WHGG-AM Kingsport TN, WABN-AM Abingdon VA, all licensed to Information Communications Corp., in which Hill has 51% interest. LMA 9/1/07. [File date 9/7/07.]
39K KNGM-FM Emporia KS from Christian Action Team Inc. (Aaron Mays) to Great Plains Christian Radio Inc. (Don Hughes). 32K cash at closing, up to 7K payment to FCC to cover fine for late-filing of license renewal application. Station is noncommercial. [File date 9/7/07.]
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| Stock Talk |
Wall Street welcomes GM pact
You could almost hear the collective sigh of relief on Wall Street when GM and UAW were able to avert a protracted strike. Traders took that excellent piece of news and then proceeded to give broadcasters very mixed results. Just about the biggest media loser wasn't really a broadcaster - it was Google.
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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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46.52
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+0.89
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Google
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GOOG
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568.16
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-0.84
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Beasley
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BBGI
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7.30
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+0.19
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Hearst-Argyle
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HTV
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25.88
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+0.23
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| CBS CI. B |
CBS |
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31.11
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+0.30
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Journal Comm.
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JRN
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9.53
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-0.16
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| CBS CI. A |
CBSa |
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31.10
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+0.26
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Lincoln Natl.
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LNC
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64.74
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+0.41
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| Citadel |
CDL |
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4.18 |
+0.04 |
Radio One, Cl. A
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ROIA
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3.50
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-0.15
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Clear Channel
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CCU
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37.18
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+0.32
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Radio One, Cl. D
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ROIAK
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3.51
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-0.15
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Cox Radio
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CXR
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12.91
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+0.01
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Regent
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RGCI
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2.63
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+0.02
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Cumulus
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CMLS
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10.21
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-0.19
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Saga Commun.
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SGA
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7.40
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+0.14
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Debut Bcg.
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DBTB
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1.01
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unch
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Salem Comm.
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SALM
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8.10
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-0.11
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Disney
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DIS
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34.52
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+0.45
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Sirius Sat. Radio
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SIRI
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3.42
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+0.14
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Emmis
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EMMS
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4.83
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-0.52
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Spanish Bcg.
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SBSA
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2.56
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-0.01
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Entercom
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ETM
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18.67
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-0.61
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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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9.53
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+0.11
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Westwood One
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WON
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2.90
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-0.17
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Fisher
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FSCI
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49.80
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+0.58
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XM Sat. Radio
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XMSR
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14.38
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+0.86
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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
Network Radio Upfront update
How might the new CRB Royalty rates foisted upon radio broadcasters...
Media Markets & Money
WMCU-FM Miami sold
Trinity Evangelical Divinity cashing out...
Close encounter in SoCal
Says to the SEC that it has closed on...
Washington Media Business Report
NAB continues to press
White space opposition, effort to forestall the sudden entry of unlicensed devices...
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Stations for Sale
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3 Station SW Cluster
Excellent 2 owner market.
Priced to Sell. [email protected]
(303)758-6900
Florida Resort FM
Immediate ownership opportunity; partner retiring. Sale or equity investor, terms available. Rated market, high growth area. Excellent facility. Meet at NAB/Charlotte
E-mail: [email protected]
 Market your Stations For Sale
in our daily epapers.
Contact
June Barnes
[email protected]
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Radio Media Moves
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McVay beefs up,
shifts staff
Chris Connelly is coming from WBEB-FM Philadelphia to take on the roll of VP/AC, freeing Daniel Anstandig to shift from VP/Adult Formats to President of McVay New Media. He'll be assisted in his new role by Rockie Thomas and SEan Lozensky. Meanwhile, Jerry King has been upped to VP/Operations.
 Cohen
for broke
The Weiss Agency has named WOR veteran Heather Cohen Executive VP and is installing her at its New York office where she will represent talent and consult with broadcast clients. She was most recently with GreenStonie Media, after a decade with WOR.
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More News Headlines
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Dial Global signs Waitt Radio Networks
Add yet another to the growing list for Dial-Global: Waitt Radio Networks and Dial Global announced Dial Global's exclusive ad representation of Waitt Radio Networks beginning January. "I am extremely excited about this new partnership as it is a great opportunity for Waitt, for Dial Global and for our clients as the Waitt Radio Networks' inventory will become a part of the DG Digital 24/7 RADAR Network." says Eileen Decker, President, Sales for Dial Global. "I have watched in recent years as Dial Global has gone from strength to strength, and with the team at WRN now having put our company on a similar trajectory, it's an ideal time for us to work together," says Kurt Luchs, Waitt GM. "Also, having experienced the value of being in RADAR, I'm eager to see it take us to the next level."
Patrick is back
After breaking off an 18-year run with ESPN, Dan Patrick is heading back to radio next week from the production/distribution stable of The Content Factory, founded by Jimmy de Castro. Premiere Radio Networks is handling sales and representation. de Castro has plans to distribute "The Dan Patrick Show" across a broad spectrum of media platforms including radio, television, the Internet, print and mobile devices.
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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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Ford to offer HD Radio
across most product lines
Ford became the first automaker to offer HD Digital Radio across multiple product lines. The dealer-installed HD radio option is now available nationwide on nearly all 2008 model year Ford, Lincoln and Mercury vehicles. Additionally, HD Digital Radio can be installed on many earlier models from 2005, 2006 and 2007. As with SYNC, the extensive availability of HD Digital Radio furthers the company's ongoing efforts to deliver new entertainment technologies to automotive consumers....Beginning immediately, HD Digital Radio will be available as a dealer-installed option on new, pre-owned and currently-owned vehicles. Price points will vary by dealership.
Phil Cowdell, WPP's Global Media Director CEO of Ford Media Services, tells RBR about Ford's SYNC in an upcoming interview in our SmartMedia magazine: "...it will allow you to use your mobile phone through the car's hi-fi system. You can drive hands free. SYNC basically provides a software operating platform in the car that means whatever devices you've got as a consumer, when you get in your car you can use them seamlessly. (For the full report on HD and Ford see RBR)
RBR observation: This is what we've all been waiting for-the last piece of the HD Radio puzzle. Hopefully the dominoes will start falling as well with GM and Chrysler. Now the real push begins against satellite's 12.95 a month price tag. Now AM stations can offer music again as well. Congratulations Radio-this is some real icing on the cake for the NAB in Charlotte.
09/26/07 RBR #188
Houston PPM in-tab falling
Another problem for Arbitron in Houston? Looks like its turnover, as the Houston PPM in-tab is falling, falling, falling. The Houston September week 2 sample dropped significantly and the weekly in-tab dropped to a record low, losing 70 in-tab. Conversely, Philadelphia is up slightly and continues to be traveling in the right direction. Said Cox Radio CEO Bob Neil: "Once again, a quick mention in a conference call about Holidays doesn't cover a big drop in sample. The majority of the drop appears to be caused by people dropping out of the panel after two years. Where is the memo to clients before this kind of thing happens? More in RBR.
09/26/07 RBR #188
Executive Comment
Rock (or is it Roll) to
(NAB President) David Rehr
It's about broadcast radio remaining the Dashboard Dominator. True NAB will be forced to repudiate all the hyperbolic praise related to the HD radio roll-out. After all, unlike Sirius and XM, Ibiquity didn't do such a great job of super-charging market penetration by cutting lucrative equity deals with OEM's. And why when offered the opportunity, didn't Bob Struble and his many radio company investors just give Steve Jobs a fee-free license to include HD radio reception...
RBR observation: Some times it has to be said and by someone other than RBR. We let broadcasters speak and this Open Letter to NAB's Rehr worth another to Radio's competitive future and the future is NOW. Take a read in this special page report.
09/25/07 RBR #187
Gloomy forecast for Charlotte
That's not the weather outlook, which is pretty sunny for this NAB Radio Show week, but Bank of America analyst Jonathan Jacoby sees "no sunny days for radio." The data he has gathered indicates that August sales were worse than expected in large markets, so he's expected the month industry-wide to come in down 1%. CL King analyst Jim Boyle is even more pessimistic. He thinks August will be down 2%. Boyle at CL King is seeing a continuation of the trend he's tracked for months of small markets generally doing better than large ones. But he notes in his latest report that the long-time weakness in the top 25 markets seems to be spreading to mid-markets as well.
RBR observation: It's not all gloom and doom. We expect to see lots of happy, prosperous small market owners in Charlotte. Those markets where the rare agency buy is pretty inconsequential have held up well as their brethren in markets where CPM-type buys occur every day have suffered. The answer, of course, is to escape from negotiations based strictly on ratings and cost-per-point and sell based on the results that your station delivers to happy advertisers. Easier said than done - and each layer of people between the station sales staff and the ultimate decision maker for the advertiser just makes it that much harder. That's why mom and pop radio is still fun and rewarding, if increasingly rare.
09/25/07 RBR #187
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Affiliate Sales Rep
WOR Radio Network's (WRN) needs an exec with Passion for Talk Radio. Self-starter w/ 2-5 yrs experience. Work independently and achieve goals to increase market coverage and audience delivery for our Nationally Syndicated programming. Business is about relationships and candidate with strong database in Talk Radio will win big time. Offering competitive salary + commission plan, health insurance and 401K. WRN is the place to be to succeed with stability. Details & Apply see Radio Careers
General Manager
Midwest & Life is good with this Small-Medium cluster in rated market. Top Aggressive, community minded GM needed. We're reentering ownership so don't be concerned that you're already working for us. Have a track record of performance, strong on sales and ideas. Ability to get the most out of a talented staff. Tired of the corporate jungle and want to work in real radio. This GM post for the person with Radio Passion. Details where to apply see Radio Careers
General Sales Manager
America's Legendary CHR station, KDWB, looking for a world class GSM to lead a talented sales team! We have 5 questions for our next GSM to answer. If you can say Yes to some or all then lets talk. A college degree is preferred with two years related experience and/or training, or equivalent combination of education/experience. Clear Channel's KDWB, EEO--Hey, it doesn't get any better than this. Complete requirements, where to apply see Radio Careers
Hard finding that key person
to fill the important position at your organization? Media HeadHunters is the place that key media firms use to get results. See Media HeadHunters and get results with service.
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