Welcome to RBR's Daily Epaper
Volume 25, Issue 2, Jim Carnegie, Editor & Publisher
Friday Morning January 4th, 2008

Radio News ®


Things that DID happen in 2007
Yesterday we looked at all the things that did not happen last year. In a lot of ways, 2007 was almost a transition year, a preparation for 2008. A number of events that transpired or continued into the year remain unresolved and will be front and center as time moves ahead. But that's not to say nothing happened -- in fact, quite a few notable events went into the history books. Here are 17 of the most significant:
| The List |

November numbers look bleak
The good news is: easy comps for November 2008. But that's about all you can say for the pothole that is the Radio Advertsing Bureau report on Miller Kaplan Arase & Co. numbers for the month of November 2007. Local revenue was down at -5%, national was down at -15%, a combined drop of -7%. The usual perkiness in the non-spot category helped a little, but it remains a fringe revenue stream, and the 14% gain it contributed to the bottom line massaged the bottom line up to -6%. Anthony DiClemente, pictured, at Lehman Brothers said the results weren't unexpected, but even managed to edge beneath his company's projection of a 5% decline. He said that continuing challenges will also put December on the red side of the ledger, but predicted that tight television inventory will help hold the bleeding to -4% overall for both the final month of Q42007 as well as for the quarter as a whole.

TV stands to gain most from elections
The Project for Excellence in Journalism has brought forth some numbers from 2006 to shine a light on where in the media campaign cash is likely to be headed in 2008. The spotlight is clearly focused on broadcast television, with radio getting the biggest share of the remainder. PEJ says television raked in 72% of the political take in 2006, followed by radio with 11.8%, cable/satellite TV (6.6%), newspapers (4.8%), billboards (2.5%) and finally, the Internet (1.8%). As for the broadcast television cash, almost all of it is targeted to specific stations rather than placed with one of the networks. That is attributable to the battleground effect, as national funds seek out the heat, and as local politicians in difficult races redouble their fund-raising efforts and fund-spending habits to remain competitive. Other media have their uses, and also benefit from the battleground effect as campaigns, along with traditional year-round advertisers, put the squeeze on available inventory.

RBR observation: The Internet remains a growth category. To date, it has been used more as a source of information and a fund-raising tool; political campaigns seem to be behind the curve in figuring out how best to get their message out via paid internet advertising. But just as the Howard Dean campaign first exploited the fund-raising aspect back in 2003/2004, it is probably just a matter of time before somebody, somewhere figures out a way to effectively spend money there. When that happens, watch for the medium to climb up the rankings list.


Arbitron touts PPM demo progress
In his monthly PPM press conference call, Arbitron President of Sales & Marketing Pierre Bouvard, pictured, proudly declared "all-time high" delivery overall and in the troublesome 18-24 demo. New efforts kick in next month to boost 25-34 delivery, just as 18-24 has improved. But 18-24 delivery is still lagging in the two smaller embedded metros within the New York metro. Arbitron insists that all that's needed is more time. In the non-embedded portion of the New York Metro, 18-34 in-tab is at a Designated Delivery Index of 73, or 73% of the DDI target. And Arbitron officials said that getting participation of over 70% of that difficult demo would be exceptional for diaries, so that was branded a success. But for Nassau-Suffolk, the 18-34 DDI is 56 and for Middlesex-Somerset-Union it is 62 - in both cases essentially unchanged from recent months, but Arbitron officials remain confident that their efforts to boost 18-24 participation will pay off there as well, and those efforts are being extended to the 25-34 demo next month across the PPM markets.

Bob Patchen, Sr. VP and Chief Research Officer, said those efforts are in four areas: 1) raised incentives to targeted demo households; 2) an increased rate of selecting households with the key demos; 3) "tweaking and refining" the PPM panel management systems; and 4) increased attention to different ways for participants to wear and decorate PPM meters. Bouvard confirmed that Arbitron is looking at whether to lower the threshold for the company's analysis software to be able to run reports on some demos. The current minimum is 30 in-tabs and RBR has heard repeatedly from the Nassau-Suffolk market that some key demos are frequently below that. Noting Arbitron's claim that one PPM panelists equals three diarykeepers, Bouvard said the company is looking at different options and is working with the Radio Advisory Council (RAC) research subcommittee on possible changes. The RAC has suggested that Arbitron could drop 6-11 year-olds to focus on the 12+ universe, but Bouvard indicated that the company is focused on maximizing 12+, rather than dropping the youngest PPM panelists, and will have scenarios to discuss with the RAC by the end of this quarter.

RBR observation: The monthly press call was followed by the monthly PPM client call, which is closed to us press types. We understand, though, that there was some discussion about why broadcasters are having to pay so much more for PPM, as compared to diaries, but no new ad spending is materializing because of PPM. Bouvard reportedly countered that it is not about new dollars, but rather about keeping existing ad spending from moving away from radio to the Internet and other competitors due to advertisers demanding accountability.

Sirius added
2.3 million in 2007

Sirius Satellite Radio reports that it ended 2007 with 8,321,785 subscribers, up 6,024,555 at the end of 2006. So, during 2007, Sirius added approximately 2.3 million net subscribers. "Sirius' subscriber base increased 38% in 2007, and our gross subscriber additions in 2007 were the highest in the history of satellite radio. Our full year monthly subscriber self-pay churn rate was 1.6% and all-in churn was 2.2%, consistent with the low end of our guidance," said CEO Mel Karmazin.


HD Radio 2008
NPR, Harris, Towson University launch
hearing, sight impaired HD effort

NPR, Harris Corporation and Towson University announced a new initiative to make radio more accessible to the hundreds of millions of hearing and visually impaired people around the world. At a press conference at the Consumer Electronics Show in Las Vegas, they announced the global accessible radio technology initiative and provided the first live demo of the accessible radio technology. The group also announced a new research center for developing future technologies on the campus of Towson University near Baltimore, MD. Additional plans call for the establishment of an international consortium of equipment manufacturers, broadcasters and other organizations to help foster broad adoption of the initiative. The initiative will leverage HD Radio technology to enable hearing-impaired people to "see" live radio content on specially equipped receivers by applying television closed-captioning processes to radio broadcasts. The technology also will provide audio cues and voice prompts, as well as advanced radio reading services, for those visually impaired and blind. They showcased the first over-the-air transmission of the accessible radio technology using a signal from WX3NPR, a special temporary station authorized by the FCC for the live broadcast. Attendees at the press conference watched the text transcript of the NPR flagship morning news magazine "Morning Edition" on the HD Radio receiver's viewing screen. The demo also carried a digital radio reading service that will assist the visually impaired with daily readings of current books, newspapers and magazines.


Ad Business Report TM

Friendly's names Zimmerman Advertising AOR
Friendly's Restaurants announced it has awarded Zimmerman Advertising of Fort Lauderdale as its AOR, following a review. Friendly's began a comprehensive agency review for the 25 million account in October utilizing Pile and Company Consulting of Boston. There were a total of five agencies initially considered and three outstanding finalists, with Zimmerman awarded the account. "I was extremely impressed with Zimmerman Advertising's creative, their knowledge and understanding of our brand and the strength of their strategic thinking," said Skip Weldon, VP/Marketing for Friendly's. The agency's responsibilities will include strategic planning, creative, media and production services.

JC Penney opens review for Hispanic account
JC Penney has initiated a review for its 32 million U.S. Hispanic account after splitting with Dieste Harmel & Partners Dallas. The marketer expects to pick a new agency in March, says AdAge. The retailer is putting together a list of three to five Hispanic shops for the pitch, said Olivia Vela, multicultural marketing director at JC Penney. The review will include the Vidal Partnership, an independent Hispanic agency based in New York, and Conill, Saatchi & Saatchi's Hispanic agency, she said. Saatchi, part of Publicis Groupe, is JC Penney's general-market agency, and the retailer moved its account for Puerto Rico to Badillo Nazca Saatchi & Saatchi, San Juan, in December. The account includes Hispanic media.


Media Business Report TM
Landmark Communications
on the auction block

Landmark Communications is up for sale, although the company emphasized that it may sell some assets and keep others, depending on market conditions. The private company, had an estimated 1.75 billion in revenues in 2006. The crown jewel is The Weather Channel, one of the last remaining major independent cable networks. The New York Times quoted one expert who estimated the cable net and its related assets, including Weather.com, could fetch five billion bucks. That would be a premium price for a primo property. Lehman Brothers analyst Anthony DiClemente said the high valuation is being driven in part by the website. "According to Nielsen/NetRatings, the Weather.com website saw 32 million visitors in November, which makes it the 18th largest site in the US. If we assume the average EBITDA multiple of 23x for the sale of The Weather Channel cable network, resulting in a price tag of roughly three billion, this would imply a value of roughly two billion for Weather.com," he said.

There have reportedly been numerous offers over the years from major media companies interested in purchasing The Weather Channel, but until now Landmark's principal owner, retired Chairman and CEO Frank Batten Sr., pictured, has said no. Now the Batten family is entertaining the possibility of selling all or part of the company. "At this early stage, we cannot speculate on where this process will lead," said Frank Batten Jr. the current Chairman and CEO. Landmark owns two television stations: KLAS-TV (Ch. 8, CBS) Las Vegas and KTVF-TV (Ch 5, CBS) Nashville. It also owns nine daily newspapers and more than 100 non-daily and specialty publications. JPMorgan Chase is advising the company on selling The Weather Channel. Lehman Brothers is advising the company regarding sales of the other properties.

RBR observation: This seems like an inopportune time to be trying to sell major media properties, particularly daily newspapers, but The Weather Channel is such a rare prize that it will certainly ignite a spirited bidding war. We note, though, that Frank Batten Sr. is up there in years and you can't put off estate planning forever. Also, he has been very active in recent years in giving away large chunks of his wealth to charity. Selling The Weather Channel, if not all or most of the company, will produce liquidity that even a billionaire sometimes has need of. Who will be bidding for The Weather Channel? Immediate speculation focused on News Corporation, NBC Universal and Comcast.

Chick-fil-A launches online video contest
Vitrue, Inc., the video-centric social media company known for connecting brands with engaged audiences, announced that Chick-fil-A has chosen it to power the restaurant chain's biggest foray into social media to date. As the chain celebrates its 40th anniversary, Chick-fil-A and Vitrue have launched the "Biggest Chick-fil-A Fan" video contest and social media Web site at chick-fil-a.com/biggestfan. Vitrue has developed this branded video community to encourage enthusiastic customers to upload their own videos and ultimately engage more closely with the Chick-fil-A brand. The site features a flexible suite of tools for consumers to create and submit videos and content. Fans can submit a video of up to one minute in length that creatively pleads their case as to why they believe they are the brand's most passionate fan. Videos can be submitted through 1/15; at stake is a grand prize featuring 40 months of free Chick-fil-A Combo Meals. In close partnership with The Foundry Agency, Vitrue also worked to create the Biggest Fan promotional platform in conjunction with the launch of Chick-fil-A's 40th Anniversary campaign this year. The Foundry Agency and Vitrue together developed a strategy and solution leveraging user-generated content to provide Chick-fil-A's biggest fans with a voice-and video. On November 13, the site launched with a video from President and COO Dan Cathy appealing to "Raving Fans" to share their love of Chick-fil-A with the world.


Media Markets & Money TM
If at first you don't succeed
One of the lowlights of 2007 was the breakup of the 452.1M sell-off of dozens of Clear Channel small market properties to a shifting roster of would-be buyers. The stations went back on the market, and now seven have been resold to Vox Communications Group. Vox, headed by Bruce Danziger, Ken Barlow and Keith Thomas, will be building in their New England base, picking up five stations in the Burlington VT-Plattsburgh NY market (WEZF-FM Burlington VT, WEAV-AM Plattsburgh NY, WVTK-FM Port Henry NY, WCPV-FM Essex NY & WXZO-FM Wilsboro NY) and two more in the Lebanon NH-Rutland-White River Junction VT market (WTSJ-AM & WCVR-FM, both licensed to Randolph VT). Brokerage firm Kalil & Co. is still on the job for Clear Channel; The Mahlman Company represented Vox. The price of the transaction was not immediately available.

RBR observation: We hear there are more Clear Channel resales in the pipeline. Stay tuned.

Close encounter in Nebraska
The transaction sending Lincoln NE stations KFGE-FM, KBBK-FM, KLNC-FM, KLIN-AM & KWBE-AM from David Benjamin's Triad Broadcasting Company to Mary Quass and NRG Media is officially a done deal, according to brokerage firm Kalil & Company. The price was 17.5M.

'PYRic victory
Michael B. Glinter is adding a station in the Louisiana capital. According to broker Michael Bergner, Glinter is picking up WPYR-AM. The seller, James Morrell's Pamal Broadcasting, will pick up 350K. Morrell picked up the station from Clear Channel in somewhat of a grab bag, in exchange for an FM in Springfield MA back in the summer of 2006.


Washington Business Report TM
FOIA clears WH foyer forya
President Bush kicked off the new year, in part, by signing into law bipartisan legislation strengthening the Freedom of Information Act. The thrust of the bill is to help citizens and journalists take advantage of their rights under the existing law in the face of a stonewalling government entity without being forced into costly and time-consuming litigation. The Society of Professional Journalists explained, "It creates an independent ombudsman to resolve citizen disputes, helps agencies strengthen FOIA, creates a system for the public to easily track the status of requests and allows requesters to more effectively recover legal costs incurred when agencies improperly deny requests." SPJ President Clint Brewer said, "Unfettered access to the records of government is a cornerstone for a free press, as well as a sound, civil society. The American people have a right to know about the actions of their government, and those actions are most often told through the public record."


Entertainment Business Report TM
IRN adds Kevin Wall to "Outside the Wire"
IRN's Founder Rick Senninger brings in the New Year for "Outside the Wire" with talker Kevin Wall in the driver's seat starting 1/7. Senninger says, "I can't imagine merging a finer team as the pillars of our multimedia platform. Between Kevin Wall's national appeal to listeners and OTW's online columnist Bob Parks, we feel we just hit this one right out of the ballpark." Wall has aired in LA, San Francisco, DC, St. Louis, Seattle, Detroit, Dallas and has sat in for Glenn Beck, Bill Bennett and appears regularly on Fox News Radio.

XM signs "The Dan Patrick Show"
XM Satellite Radio and The Content Factory announced Dan Patrick's national radio show will air on the sports talk channel XM Sports Nation (Ch. 144) starting 1/21 every weekday from 10 a.m. to 12 noon ET/7 a.m. to 9 a.m. PT. Patrick premiered his new syndicated radio show in October. In addition to the radio show, Patrick recently joined Sports Illustrated as a senior writer for the magazine and SI.com and will re-launch DanPatrick.com in February.

WFTL Radio brings back the "Jim DeFede Show"
The new "Jim DeFede Show" will premiere on WFTL-AM Ft. Lauderdale, starting Monday, 1/7 Monday-Friday from 4pm-7pm. Jim has been on staff at News-Talk 850, WFTL, since 12/3, has been contributing to the WFTL Morning News program. Prior to joining WFTL, Jim hosted his own morning show on WINZ, AM940, and was named "Best AM Radio Personality," for 2007 by New Times Broward-Palm Beach. DeFede is an award-winning writer for the Miami New Times for 11 years, a metro columnist for the Miami Herald for three years and currently writes for Miami Monthly Magazine. He's also a commentator and investigative reporter for CBS4 News Miami (WFOR-TV), joining their staff in January of 2006.

Dial Global's Cooper Lawrence
appears on The Tyra Banks Show

Cooper Lawrence will be on The Tyra Banks Show for two segments on Monday January 7th for a show titled "Decoding Your Man". Cooper will address two issues to help Tyra's audience better understand their men; fear of commitment and immature men who refuse to grow up. Cooper Lawrence is the radio host of The Cooper Lawrence Show, which airs live nationally from 7pm-10pm ET weeknights.


Transactions
7.75M KTEK-AM Houston-Galveston TX (Alvin TX) from South Texas Broadcasting Inc., a subsidiary of Salem Communications Corp. (Stuart W. Epperson, Edward G. Atsinger III) to Businessradio Houston Licensee LLC, a subsidiary of Businessradio Network LLC (Daniel Frishberg, Jon Lundsford et al). 500K earnest money, 5.5M cash at closing, 1.75M note. Buyer will terminate LMA with Multicultural Radio's KXYZ-AM. Seller retains KNTH-AM & KKHT-FM in the market. [File date 12/10/07.]


Stock Talk
Broadcast stocks take a dive
Broadcasting stocks were nearly all lower as Wall Street closed mixed ahead of Friday's Labor Department report on December jobs data. The Dow Industrials crept up 13 points to 13,057, but the Nasdaq Composite was down slightly and the S&P 500 dead flat for the day.

The RBR Radio Index fell 3.928, or 4.1%, to a 10-year low of 92.209. Cumulus plunged 7.3%, apparently on worries about whether it's going private deal will get done. Emmis was down 9.9%. Radio One saw its Class A drop 8.1% and Class D 7.2%. Salem fell 7.3%.


Radio Stocks

Here's how stocks fared on Thursday

Company Symbol Close Change Company Symbol Close Change

Arbitron

ARB

40.27

-0.27

Google

GOOG

685.33

+0.14

Beasley

BBGI

6.15

+0.02

Hearst-Argyle

HTV

20.79

-0.61

CBS CI. B CBS

25.89

-0.53

Journal Comm.

JRN

8.52

-0.28

CBS CI. A CBSa

25.95

-0.51

Lincoln Natl.

LNC

55.88

-0.37

Citadel CDL
1.93 -0.13

Radio One, Cl. A

ROIA

2.16

-0.19

Clear Channel

CCU

34.17

-0.32

Radio One, Cl. D

ROIAK

2.19

-0.17

Cox Radio

CXR

11.48

-0.41

Regent

RGCI

1.47

-0.04

Cumulus

CMLS

7.25

-0.57

Saga Commun.

SGA

6.01

+0.02

Debut Bcg.

DBTB

0.80

-0.05

Salem Comm.

SALM

6.27

-0.49

Disney

DIS

31.77

-0.07

Sirius Sat. Radio

SIRI

3.15

+0.10

Emmis

EMMS

3.19

-0.35

Spanish Bcg.

SBSA

1.87

-0.08

Entercom

ETM

12.50

-0.72

SWMX

SMWX

0.00

unch

Entravision

EVC

7.21

-0.41

Westwood One

WON

1.94

-0.06

Fisher

FSCI

36.45

-1.33

XM Sat. Radio

XMSR

12.59

+0.17


Bounceback

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Below the Fold
HD Radio 2008
NPR, Harris, Towson University
Launch hearing, sight impaired HD effort...

Ad Business Report
JC Penney opens review
For Hispanic account for its 32M...

Media Business Report
Landmark Communications
On the auction block some assets for sale some not...

Media Markets & Money
If at first you don't succeed
One of the lowlights of 2007 was the breakup of the 452.1M sell-off...




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Contact
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Radio Media Moves

Mississippi GM
Shawn McIntire has joined WROX-AM & WKXY-FM Clarksdale, MS as General Manager. The stations, which flipped to Oldies in December, are also bring back longtime WROX staffer Jerry Allhands to handle mornings, beginning Monday, January 7th.

Tulsa PD named
Luke Jenson joins Journal Broadcast Group next week as Program Director for KVOO-FM and KXBL-FM Tulsa. He had been PD at KCKC-FM Kansas City.

Two named to Des Moines posts
Saga's Des Moines Radio Group has named Chris Beck Marketing Manager of KIOA-FM and KLTI-FM, while continuing his role as Internship Manager for the cluster. Former intern Lindsay Reinert returns to the company as Promotions Director for KIOA and KLTI. She had been Marketing/Promotions Director for the WASK Radio Group in Indiana.

Sales vet in Missouri
Ron McCarthy has joined Journal Broadcast Group as Sales Manager for KSGF-AM & FM and KTTS-FM Springfield, MO. He had been Sales Manager for the Radio Dubuque cluster in Iowa.

Upped at Fisher
Randa Minkarah has been promoted to VP/Market Development for Fisher Communications. In addition to her marketing and research responsibilities, Minkarah will assume corporate responsibilities for Fisher's Univision affiliated stations operating in Seattle, Portland and Yakima. Minkarah joined Fisher Communications in 2002 as the General Sales Manager of KOMO-TV Seattle, the company's flagship television station, and has most recently served as the Director of Market Development for Fisher Communications.




More News Headlines

Coleman establishes "Chloe's Kids" in memory of Jon Coleman's daughter
In memory of his late 14-year-old daughter Chloe, Coleman president Jon Coleman and his family announced the establishment of "Chloe's Kids," a program that will provide support to impoverished children in Guatemala. The program will be overseen by Holt International Children's Services, which will partner with Guatemala City-based Associación para la Integración Familiar (APIF). Jon Coleman gratefully acknowledged the tremendous outpouring of support he and his family received from friends, family and Coleman's clients following Chloe's death. "I am pleased to tell you that nearly 45,000 has been donated in Chloe's memory," Coleman wrote in a letter mailed to friends and business associates and posted on Coleman's website. "This represents the largest memorial gift ever received by Holt International Children's Services." Upon Chloe's passing in June of 2007, the Coleman family specifically requested that donations be made in her memory to Holt International, an international adoption organization dedicated to placing orphaned, abandoned and vulnerable children with permanent, loving families. Chloe was a native of Guatemala City who was adopted by Jon and Linda Coleman when she was six months old. Donations to Chloe's Kids can be made through www.holtintl.org.

MGI used DLGS
Media General Inc. was one of the companies who benefited greatly from the FCC's 12/18/07 decision to allow numerous existing newspaper/broadcast in-market combinations to continue, a plank of the Commission's wide-ranging activity that day which was apparently added at the last minute over the protests of the Democratic commissioners. The Associated Press says that MGI did more than sit back and wait for a ruling from the FCC -- it put DC lobbying firm Dow Lohnes Government Strategies to work on the issue. The relationship, which is required to be made public, was formally announced 12/4/07.


RBR Radar 2008
Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.

It Didn't Happen in 2007
A lot of things happened last year, but a lot more things that might have happened did not. Here is our take on the most significant non-events of the year. You might call this the woulda-shoulda-coulda lists, except in some cases -- like the lack of any significant new indecency fines -- the non-event status is good thing. Here are 18 things that did not take place in this special page report of RBR.
01/03/08 RBR #1

Radio hopes for political
windfall this year

With major ad sectors such as automotive still soft, broadcasters can at least prepare to count the money from what promises to be a political showdown where ad expenditures will easily break past records. Analyst Victor Miller and his Bear Stearns associate Tracy Young some time ago projected that political ad spending for the 2007-2008 cycle will total 2.5 billion bucks.

RBR note: The analysis is interesting to see who gets the bulk of the political dollar see RBR.
01/03/08 RBR #1

Executive Comment
The truth about Minot
This is a note of personal thanks for being the first publication to step up and print the truth about the Minot "urban legend" (12/27/07 RBR #249). At the time of the incident, I was the Senior Vice President at Clear Channel overseeing a sixteen state territory called the Plains/Northwest and Minot was in my area of responsibility. Read full comment by Jay Meyers, Managing Director/COO, Cavalry Media Services, LLC in this report pg of RBR
01/03/08 RBR #1

The year of yearning to go private
Bounce Back from Dennis Jackson, Owner/Founder WCLX, WMEX, WQQQ, WRIP. Regarding "The year of yearning to go private" (12/27/07 RBR #249) As the year ends, let's connect the dots. The corporate conglomeration formula has been simple: 1/ Work with NAB to persuade Congress and FCC that consolidation of 80-90 stations and staffs must happen in order for radio to remain viable (note - do it just as inexpensive PC-based automation is proliferating); 6/ Buy back the stock for 35 cents on the dollar and "go private."

Publisher note: If there was an executive comment this year to end an old year Dennis Jackson hit the nail on the head. Dennis with experience put it on the line and it is so good we at RBR wish we wrote it. Got to read this one as it sets our pace for a new year. Bravo, Dennis Jackson, You da Man!
12/28/07 RBR #250

Michaels to conduct
"Internet experiments"
With Trib properties so get ready people he is back. Michaels on Internet experiments, "There are some pretty obvious and unexploited opportunities," Michaels said. "I think blurting it out in the paper is probably not the right competitive idea, but I will say this: It's a little bit embarrassing that all media companies have made their Web sites and their Web efforts look too much like their traditional business."

RBR note: If you know anything about the little word Internet then read between the lines of the quote. We did and like Michaels RBR is now completely electronic. Next up our website. 2008 is going to be an experience for some and those who have not moved into the electronic internet world will feel the pain.
12/28/07 RBR #250

Now the big game is everywhere
Bending to intense Congressional pressure, the NFL has agreed to but Saturday's New England Patriots vs. New York Giants game on both CBS and NBC (12/27/07 TVBR #249), rather than going with the original plan to have the national telecast only on its fledgling NFL Network.
12/28/07 TVBR #250

The year of yearning to go private
It seems most CEOs of publicly traded broadcasting companies wished in their hearts to leave Wall Street and go private in 2007. Of those who actually tried, not all succeeded. The biggest, of course, closed just last week, as Sam Zell. Analysis of Clear Channel and Cumulus Media see RBR.
12/27/07 RBR #249


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