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Volume 22, Issue 200, Jim Carnegie, Editor & Publisher
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Wednesday Morning October 12th, 2005
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Radio News®
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 Access.1 makes big move into Pennsylvania
Nassau Broadcasting Partners is selling seven radio stations to Access.1 Communications. Four are in the Allentown-Bethlehem-Easton PA Arbitron market, and the other three are in Wilkes Barre-Scranton. According to Glenn Serafin of Serafin Bros., who brokered the deal, the Allentown stations include WWYY-FM Belvidere NJ, WEEX-AM/WODE-FM Easton PA and WTKZ-AM Allentown PA; in Wilkes Barre they include WVPO-AM/WSBG-FM Stroudsburg PA and WPLY-AM Mount Pocono PA. Access.1 is headed by Syndey Small and Chesley Maddox-Dorsey (pictured). The price wasn't immediately disclosed, but this is a major expansion for Access.1. The acquisition will take the group to 29 stations in a variety of widely-dispersed markets. Not too far away are an AM station in New York City and a cluster in Atlantic City which includes three AMs, two FMs and an NBC-affiliated television station (the latter of which is considered to be part of the Philadelphia DMA).
 CCU says two fired in payola probe
Clear Channel Communications said late yesterday that it had concluded an internal probe resulting from New York Attorney General Eliot Spitzer's payola settlement with Sony BMG (7/26/05 RBR #145). After what was called a thorough investigation, Clear Channel said it found evidence of wrongdoing in two cases and those individuals, who were not identified, were fired. In other instances, Clear Channel said, it found evidence of "inappropriate conduct," leading to disciplinary action against an unspecified number of employees. "We take this issue very seriously and our policy is clear: If you engage in pay-for-play, you cannot work for Clear Channel," said CC Radio CEO John Hogan. He added, "We believe the vast majority of our programmers are doing a terrific job, fully within the law."
Double digit quarter for Gannett
That's not a positive. We're talking TV division revenues down 19.3% to 166.4 million and operating cash flow down 35.2% to 69 million. Gannett President and CEO Craig Dubow told analysts that local sales were down 11% and national 33%. Ominously, he also said there was no positive movement in the vital auto sector for either TV or newspapers. Newspaper revenues were up 7.1% for the quarter to 1.7 billion, but adjusted for acquisitions that gain was only 1.1%. On a same paper basis, classified rose 1.4% and local 1.3%, with national flat. What about the current market for acquisitions? Chairman Doug McCorkindale said Gannett is in the hunt for any TV and newspaper properties that come on the market. However, he said paying 16 times broadcast cash flow for a well run TV station just doesn't make sense.
RBR observation: While Gannett doesn't own radio stations any more, folks in radio should also be concerned about Dubow's comments on the lack of momentum in the auto sector. Until auto gets back in gear, it's going to be tough to grow core revenues significantly in radio or TV. We would note that one group owner recently noted that dealers' used car lots are overflowing as a result of trade-ins from the automaker's employee-pricing campaigns. If your station isn't working the "pre-owned" sector, that's one area worth looking into.
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More buzz on buzz marketing
The Word of Mouth Marketing Association (WOMMA) is not happy about a headline about its stock in trade used by AdAge.com. That story, headlined "Is Buzz Marketing Illegal," was discussed in an article in TVBR (10/5/05 RBR #195), but we used it to illustrate a point about techniques like product placement. Our headline was "What's the buzz about disclosure?" Anyway, WOMMA is upset that the AdAge headline implies that encouraging word of mouth is shady, when in fact, if done correctly, it is anything but. That point was actually made clear in the AdAge article, and that is why we picked it up in TVBR - - even a word of mouth campaign MUST be conducted on the up-and-up. If an agency sends its agents out into the field to talk up a product or service, they must make it know that they are in fact agents being paid. It is part of WOMMA's code of ethics. The point of such a campaign, of course, is to move the marketing beyond the realm of paid instigators and into the zone of true consumer-to-consumer word-of-mouth, at which point there is no relationship to disclose. However, the whole controversy still serves to underscore the importance of properly disclosing all cash/commercial relationships between the media and advertising, marketing and promotional companies. If it is true for instigated word-of-mouth, then you can rest assured it's true for everything.
 Icahn turns up the heat
on Time Warner
We doubt that Time Warner CEO Dick Parsons believed he had defused a threat from Carl Icahn when he met recently with the renowned corporate raider. Rather, Parsons was likely waiting to see Icahn's next move. It came yesterday - - a stinging letter to fellow shareholders accusing Time Warner management of a long list of blunders, with the botched acquisition of AOL as only the beginning. According to Icahn and his associates, Time Warner's management and directors have more recently hurt shareholders by selling off valuable assets at "fire sale prices" - - including the sale of Warner Music, which has since done an IPO, and the sale of Comedy Central to Viacom. Also, Icahn accuses Time Warner management of maintaining a "bloated cost structure," including the company's 800 million bucks corporate headquarters with an employee cafeteria overlooking Central Park. He wonders how that enhances shareholder value and just where the shareholders get to eat lunch. "Given this extravagance and the failure to cut costs at businesses like Warner Music described above, we intend to hire, in the next few weeks, an industry consultant to analyze and compare Time Warner's costs to its peers on a number of different levels to determine what other excess fat may lie in the Company's cost structure, including, but not limited to, perquisites afforded to the Board and top management," the letter stated. Icahn and his backers are demanding a massive restructuring of Time Warner, including the complete spin-off of its cable TV unit and a 20 billion bucks share buyback. There was no immediate response from Time Warner management.
| Here's the entire Icahn letter |
2005 CMA Broadcast Awards winners
It's traditional at the CMA to have a Country recoding star notify winners of its annual broadcast awards. This year the calls were handled by Lee Ann Womack, who informed the winners that they would be recognized during the "The 39th Annual CMA Awards," Tuesday, November 15 (8:00-11:00 PM/ET) live on the CBS Television Network from Madison Square Garden in New York. Here's who all got the phone calls from Womack.
| The 2005 CMA Broadcast Award Winners |
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Adbiz©
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 Verklin on dealing
with Katrina's aftermath
In our November RBR/TVBR Solutions magazine, we ask stations (including Entercom New Orleans Market Manager Phil Hoover and WWL-TV GM Bud Brown), engineers, agencies and rep firms about life during and after Katrina. In our AdBiz section, agencies and reps speak about how Katrina affected marketing, planning and buying for clients. How are media agencies working through this? We asked David Verklin, Carat Americas CEO: "For us, we paid particular attention to it, because it has affected all parts of the marketing food chain. It has affected the media sellers and our clients both in the retail business and distribution. It has also affected media consumption and delivery, and product marketing. It certainly proved to be the perfect storm for us climactically and it was a perfect storm in the media business as well. We've had some real major problems. Think about Hyundai and the devastation to the dealer network. Think about Radio Shack and all of its stores. We've really seen a number of clients affected." More from Verklin in our November issue.
Cingular pulls upfront commitments from Fox
Cingular Wireless has reportedly pulled millions in upfront media commitments from Fox and is said to be spending the money with other broadcast nets. The commitments were part of deal to purchase airtime on Fox Sports programming. The change happened around three weeks ago and was the talk of the town at last week's Association of National Advertisers conference in Phoenix. Cingular had two media agencies after its purchase of AT&T Wireless. In March the company gave the TV buying and planning part of its 1 billion dollar account to Mediaedge:cia (formerly AT&T Wireless' media agency). OMD handles radio and print buying. Cingular is a major supporter of Fox's American Idol.
 Anheuser-Busch contributes to
Great Lakes Forever campaign
Biodiversity Project, in partnership with Michelob Golden Light and Anheuser-Busch, raised 10,000 as part of a summer environmental preservation campaign to help protect the Great Lakes. The campaign was promoted in local bars, restaurants and retail outlets throughout the Great Lakes region in July, August and September. A portion of sales from Michelob Golden Light from July to September was used to fund the donation. Anheuser-Busch also contributed to the campaign by offering the marketing services and distribution networks of its Wisconsin and Illinois wholesalers to raise awareness at key retail accounts during the summer months. The contribution will help fund Biodiversity Project's Great Lakes Forever awareness campaign (www.greatlakesforever.org), which includes radio and print ads and signage in state parks, among other things. The campaign, designed to educate residents about ways to help protect and restore the Great Lakes, will continue to run in the Great Lakes region.
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| Media Business Report |
NY Times to launch free movie magazine
The New York Times is launching a free movie magazine which will be given away to moviegoers at Loews Cineplex theaters. "OnMovies" will be distributed in beginning 12/16. The magazine will include movie reviews and other stories repackaged from the Times' movie coverage. The initial print run of 1.25 million copies will be distributed in eight cities including New York, Chicago, Los Angeles and San Francisco. The magazine pages will be evenly split between advertising and stories.
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RBR/TVBR Special Salute to Radio & TV
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 Vigilance In A
Time Of Crisis
In RBR/TVBR's November Solutions Magazine, we talk with WWL-TV GM Bud Brown and WWL-AM GM/Entercom Market Manager Phil Hoover about the importance of being two of the only stations that continued broadcasting throughout hurricane Katrina. These are great reads with touching stories about heroes, saving lives and helping those in need with information.
We all in the Radio and TV business have been trying to say - 'Thank You to the broadcast communities of New Orleans and Gulfport and everywhere else for upholding our end of the deal to the American public. May free broadcasting be forever.'
If you'd like to congratulate the broadcast community for showing what it does best, we still have a few ad positions available in this amazing 5-page feature.
Contact June Barnes at [email protected] at 803 731 5951or
Jim Carnegie at [email protected] at 813 909 2986
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| Media Markets & MoneyTM |
Wichita AM gets religion
KAHS-AM El Dorado KS is going the non-commercial route, and its buyer will become one of America's newest group owners. They buy will make Wichita the second market for Kansas City Catholic Network. Can you guess the first? (If you guessed Kansas City, well, it doesn't exactly make you a genius, but it does show you have at least rudimentary read and recall ability.) Broker John Pierce handled the deal for Stanley Tacker's Reunion Broadcasting. It'll get 525K for the station and then some - - the extra will come under terms of an LMA which will have a monthly rent of 4.2K after a free 90-day run. KC Catholic Net is headed by James O'Laughlin. Its other station - - KEXS-AM - - gets into Kansas City from Excelsior MO.
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| Washington Beat |
 Arab antenna structure
runs afoul of the FCC
Fun Media Group's WAFN-FM in Arab, Alabama had a tower in need of a cleaning and a paint job. That's what an FCC field agent concluded based on observations taken 10/30/02. A subsequent 10K fine was reduced to 8K due to FMG's previous record of compliance with FCC rules. It wanted the entire fine reduced, however, and argued that the field agent did not get close enough to the tower to make an accurate observation and that furthermore, the weather on the day in question was overcast, which would make the tower appear faded and dark. The FCC noted that the agent got to within 100 feet of the tower and was using binoculars, which was quite sufficient. Testimony provided by "independent third parties" was also thrown out - - one of them observed the tower a month earlier from an airplane 1 1/2 miles away, but the FCC noted that his testimony seemed to be based on his general knowledge of the terrain in general and the tower's location in particular rather than in the condition of its paint job. The fine stands at 8K.
RBR observation: It would seem to us that the point of making a tower visible is to make sure it can be seen regardless of weather conditions. Asking the FCC to come back when the weather is nicer would not provide much consolation to a pilot who clips the tower on an overcast day.
 Senate gets set to take up DTV
The Senate Commerce Committee has made it official: On Wednesday, 10/19/05, it will be mark-up time for a bill to forward the DTV transition. The session will kick off at 2:30 PM eastern. The DTV measure is expected to call for a hard deadline for broadcasters to return spectrum which will be set sometime in 2009. It is possible that key elements of the DTV transition will be saved for another day - - to date, committee chairman Ted Stevens (R-AK) wasn't getting specific about what will be in the bill under discussion. Among these issues is whether or not multicast must carry will be mandated. The "Truth in Broadcasting Act of 2005" is coming from Frank Lautenberg (D-NJ), John Kerry (D-MA), Hillary Clinton (D-NY), Ted Kennedy (D-MA), Byron Dorgan (D-ND), Barbara Boxer (D-CA) and Mark Dayton (D-MN). It will require that all releases from the government are appropriately labeled and credited, and instructs the FCC to come up with rules on just how that should be done, including "the exact design, presentation and additional language, if any, required for the announcements..." Also on the agenda is the "Warning, Alert and Response Network Act," which will attempt coordinate the dissemination of emergency information over all available media, including just about everything under FCC jurisdiction. A fourth bill will also be addressed, "The IP-Enabled Voice Communications and Public Safety Act of 2005."
RBR observation: A frequent occurrence at mark-ups we've attended is the plaintive moaning of an author of a piece of legislation, wishing to present a "clean" bill to the floor for consideration of the full House or Senate, occasioned by the fact that the author's committee colleagues are all merrily tacking on their own "perfecting amendments" and even items that are completely unrelated to the original bill. Like adolescence, a mark-up is a big moment in the life of a bill, but along with providing a path to maturity, it also offers many opportunities for mischief.
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| Ratings & Research |
Update: Bridge Ratings Audience Erosion Study 2005
Is radio listening erosion slowing? In 11/04, Bridge Ratings & Research released initial results from a multi-year-long Audience Attrition project. The results in that report reflected audience erosion from terrestrial radio due to generally less time spent with AM/FM radio and more time spent with a variety of digital media, including MP3 players (including iPods), Internet radio, satellite radio and DC. As part of Bridge Ratings' ongoing studies of listening behavior, the company updated the report in March by releasing the 2004 FY trending from its Audience Attrition project as well as initial findings from January/February, 2005. As part of the ongoing review of audience attrition, Bridge Ratings released its updated report reflect behavior through Q3 '05. This study, which has been tracking such behavior since January, 2004, once again reveals behaviors we have assumed are taking place, but heretofore have not had clinical results to confirm. While this project is intended to be a two year study,
| initial results show: |
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| RBR Stats |
 Consumer holiday spending to rise
Despite rising gas and oil prices, a new survey reveals that consumers intend to spend slightly more this holiday season than last. A new NPD Group survey of holiday buying intentions finds that consumers are undaunted by rising gas and oil prices, and that they intend to spend more this holiday season - - both online and off - - than last year. On average, consumers told NPD they plan to spend 681 this holiday season versus 655 in 2004. In view of the pessimistic economic news headlines so prevalent in recent weeks, the rise is slight but significant. Of course, that is not to say energy costs will not have any impact on holiday spending - - they will. But NPD found that those concerns would not overwhelm the spirit of giving. "Holiday '05 will be remembered as the year of giving to those in need," said Marshal Cohen, chief analyst at NPD. "This holiday we will see more individuals giving to the needy and buying products where the proceeds go to charities." NPD found that the bargains offered by major discount stores will attract the most customers this holiday season.
Other key influences that will affect where and how consumers shop:
51% of consumers say they comparison-shop before they buy a gift
48% prefer to buy special gifts the recipients wouldn't buy themselves
43% use ads and circulars to guide their gift shopping
37% think it is nicer to give a gift than a gift card or gift certificate
32% plan to buy their holiday gifts on sale
27% say they will pay more for the perfect gift
Cohen concludes, "Despite the challenges of higher fuel prices and higher heating expenses, retailers will fare well this holiday season and consumers will not let these distractions spoil their holiday shopping spirit."
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| Transactions |
987M WAVE-TV Louisville KY; WTOL-TV Toledo OH; WIS-TV Columbia SC; WLBT-TV Jackson MS; KGBT-TV Harlingen-Weslaco-McAllen-Brownsville TX (Harlingen TX); WFIE-TV Evansville IN; KLTV-TV & KTRE-TV (satellite) Tyler-Longview TX (Tyler & Lufkin TX); WSFA-TV Montgomery AL; WWAY-TV Wilmington NC; WALB-TV Albany GA; KCBD-TV Lubbock TX; WLOX-TV Biloxi-Gulfport MS (Biloxi MS); KPLC-TV Lake Charles LA; and KAIT-TV Jonesboro AR. 100% of The Liberty Corp. from W. Hayne Hipp et al to Raycom Media Inc. (Paul McTear et al). Stock transaction. Duopolies in Columbia SC (with WACH-TV 57 Fox); Toledo OH (with WNWO-TV 24 NBC); Albany GA (with WFXL-TV 31 Fox); and Wilmington NC (with WECT-TV 6 NBC). Raycom has applied for temporary waivers to sell stations in each market to come into compliance with ownership caps. WAVE-TV is an NBC affiliate on Channel 3; WTOL-TV is an CBS affiliate on Channel 11; WIS-TV is an NBC affiliate on Channel 10; WLBT-TV is an NBC affiliate on Channel 3; KGBT-TV is an CBS affiliate on Channel 4; WFIE-TV is an NBC affiliate on Channel 14; KLTV-TV/KTRE-TV are ABC affiliates on Channel 7 & 9; WSFA-TV is an NBC affiliate on Channel 12; WWAY-TV is an ABC affiliate on Channel 3; WALB-TV is an NBC affiliate on Channel 10; KCBD-TV is an NBC affiliate on Channel 11; WLOX-TV is an ABC affiliate on Channel 13; KPLC-TV is an NBC affiliate on Channel 7; and KAIT-TV is an ABC affiliate on Channel 8. [File date 9/12/05.]
6M WORL-AM Orlando (Altemonte Springs FL) from JCE Licenses LLC, a subsidiary of James Crystal Enterprises LLC (James C. Hilliard) to Salem Media of Illinois LLC, a subsidiary of Salem Communications Corp. (Stuart W. Epperson, Edward G. Atsinger). Tax-free like-kind exchange for KNIT-AM Dallas-Ft. Worth (Dallas TX). Price is an RBR estimate. [File date 9/14/05.]
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| Stock Talk |
Broadcast stocks slouch
Radio and TV stocks were down nearly across the board as the broader market finished the day mixed. The Dow Industrials crept up 14 points to 10,253 on strong earnings from Alcoa, but other indices were lower.
The Radio Index closed at a year-to-date low, falling 3.948, or 2%, to 191.374. Cumulus, Emmis, Entravision, Hearst-Argyle, Journal and Saga were all down more than 3%.
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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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38.05
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-1.02
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Jeff-Pilot
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JP
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52.37
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-1.44
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Beasley
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BBGI
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13.66
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-0.23
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Journal Comm.
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JRN
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14.15
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-0.46
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| Citadel |
CDL |
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14.14 |
+0.06 |
Radio One, Cl. A
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ROIA
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12.42
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-0.28
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Clear Channel
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CCU
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31.73
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-0.13
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Radio One, Cl. D
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ROIAK
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12.40
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-0.32
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Cox Radio
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CXR
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14.53
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-0.26
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Regent
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RGCI
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4.95
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-0.07
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Cumulus
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CMLS
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11.38
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-0.37
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Saga Commun.
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SGA
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12.38
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-0.49
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Disney
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DIS
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23.77
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-0.11
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Salem Comm.
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SALM
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18.05
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-0.09
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Emmis
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EMMS
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19.62
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-0.77
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Sirius Sat. Radio
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SIRI
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6.42
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-0.17
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| Entercom |
ETM
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30.06
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-0.46
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Spanish Bcg.
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SBSA
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6.73
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-0.20
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Entravision
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EVC
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7.50
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-0.30
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Univision
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UVN
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25.49
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-0.11
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Fisher
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FSCI
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45.86
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-0.17
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Viacom, Cl. A
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VIA
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31.44
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-0.46
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Gaylord
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GET
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46.00
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-0.99
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Viacom, Cl. B
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VIAb
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31.35
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-0.45
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Hearst-Argyle
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HTV
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24.26
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-1.09
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Westwood One
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WON
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19.01
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-0.24
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Interep
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IREP
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0.55
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+0.04
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XM Sat. Radio
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XMSR
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32.42
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-0.88
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International Bcg.
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IBCS
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0.01
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unch
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-
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-
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- |
-
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-
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Bounceback
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 We want to
hear from you.
This is your column, so send your comments to [email protected]
If only the FCC took all of its responsibilities as seriously as it does indecency
(10/10/05 RBR #198).
 I hope that the new FCC website also shows users how to step-by-step file complaints about cell phones that don't work, cell coverage maps that appear inaccurate, cell phone billing that appears questionable, AM Radios that appear to not meet minimum standards, and microwave ovens that leak - - all come under the purview of the FCC and cause me a lot more concern than on-air farting.
Walter Sabo
Sabo Media
New York
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Radio Media Moves
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NextMedia taps
Wes Davis as
Corporate Engineer
NextMedia Group has hired General Wes Davis to the position of Corporate Engineer. Skip Weller, President and Co-COO of NextMedia says, "Wes brings a wealth of knowledge and we are very excited to have him on board to bring our stations from analog to HD over the next couple of years." Wes' career includes Chief Engineer positions with Cumulus Media, Sinclair Broadcasting, Connoisseur Communications, Premier Marketing Group and others.
JRN ups Sassy Hackett
Jones Radio Networks announced Sassy Hackett has been named the company's promotions coordinator. Hackett spent six years at KKNN-FM in Grand Junction, CO, serving as PD, promotions coordinator and on-air personality before joining JRN in 2005. She began her radio career in 1998 at KBCO-FM in Boulder before hosting the morning show at KVCU-AM at the University of Colorado. In 1999, Hackett was voted "Best Non-Commercial Radio DJ" by Denver's Westword newspaper.
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Stations for Sale
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AM Opportunities
Great AM's in, SC Tennessee and SW Virginia! There are wonderful smaller markets with lots of potential. Some terms possible for solid buyer.
Cliff at Clifton Gardiner & Co (303)758-6900
[email protected]
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More News Headlines
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Tracey Miller
dead at 51
Twice she blazed a trail in radio as one half of an all-female morning show in Los Angeles - - first at KFI-AM, then (briefly) at KTZN-AM. Now there's word that Tracey Miller has died at age 51, three years after being diagnosed with brain cancer. Miller had been a news reporter in Albuquerque and Seattle before going to KFI in 1982 as a consumer reporter and movie reviewer. She was paired up with Terri-Rae Elmer in 1990 for what's reported to be the first major market morning show hosted by two women.
Infinity cans corporate research staffers
Infinity Broadcasting has fired its corporate research department, including Tony Jarvis, EVP/Research; Cindy Rosenblum, Research Director/Programming and Marketing; and Pixie Seth, Research Analyst. No comment from Infinity on why.
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October RBR/TVBR Digital Magazine
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TV Profiler:
Una Vez Mas, Randy Nonberg, President/COO and Bob Hyland, President of Television, tell us about navigating and expanding Azteca America's largest affiliate group.
News/Talk
Talk Radio Network's Jerry Doyle is waking people up-it's not about Conservative or Liberal anymore.
Read RBR/TVBR in 2 simple steps:
1.Create a simple account with Zinio and download the Zinio Reader.
2. You can then download the
October Issue of RBR/TVBR
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RBR Radar 2005
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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Clear Channel heating up
Hispanic menu
Within the next year and a half, radio giant Clear Channel is planning to go Latin "...across a full range of market sizes." It plans Hispanic conversions for anywhere from 20 to 25 radio stations in markets where Spanish-speaking residents are currently underserved. RBR observation: Clear Channel is under constant assault for having a political agenda, but this - - like its adoption of the liberal Air America network in many locations - - is further evidence that its primary political philosophy is the pursuit of profit, and it will go in whichever direction that pursuit takes it. 10/11/05 RBR #199
RBR Observation: How do you think HD Radio should be numbered?
We've run the numbers for you to look at. First there was the Cox Radio proposal to continue the current FM band numbering of 88.1 through 107.9 on into HD Radio multicasting as 108.3, 108.5, etc., which we extrapolated through eight multicast channels. We at RBR came up with our own proposal for both AM and FM HD Radio, which would scrap the whole "point-whatever" system for whole number channels running from 530 through 3009. But we're still looking for more ideas and feedback on the various proposals.
10/11/05 RBR #199
Viacom takes a file hit
in New Orleans
WUPL-TV, a Viacom UPN O&O on its way out of the portfolio, will have to settle up with the FCC. RBR observation: The FCC requires every station to have it maintained as FCC regional inspectors monitor compliance. FCC views all obligations seriously, as shown by the one that just hit Viacom. Do you know what should be in your Public File? No? Look for a special Your Public File report that you need to have inside your station soon from RBR but for members only. RBR's job is to cover your back and do the hard work for ya.
10/11/05 RBR #199
The grass isn't any greener
If you read our dismal report on how poorly radio stocks have performed through the first three quarters of this year, maybe you were thinking that things were better in radio. No way. If it's true that misery loves company, then radio execs will find it comforting to read these figures for TV stocks. RBR observation: Now the air is getting shorter to inhale in TV as radio has been short of breath since 2002. If you can not run them then you can not expect to see growth. Eventually the public will be the judge and jury.
10/11/05 RBR #199
Broadcast stocks still in doldrums
Three quarters of the way through 2005, investors remain sour on radio and TV stocks, with very few exceptions. The way to make Wall Street happy, it appears, is to sell assets. If you missed the total overview and all the Radio and TV stocks yet another quarter,
RBR observation: Read 'em and weep
10/10/05 RBR #198
Susquehanna Radio
headed to Cumulus?
The writing is still in pencil - - there was said to be ample opportunity for either deal to fall apart, or for new 11th hour bids to emerge. Citadel is the only company mentioned to be on the outside looking in at this point. A formal announcement is said to be coming this week.
RBR observation: The Cumulus rumor had already been widely reported here and elsewhere in the trade and financial press. Maybe the deal is at hand now that the "Gray Lady" has even heard about it. Adding impetus to the focus on Cumulus is word received by RBR that UBS asked for additional bids on just Susquehanna's Kansas City stations - - the one market where a Cumulus-Susquehanna combination would run afoul of the FCC's ownership limits. Susquehanna's 30-station portfolio would definitely upgrade Cumulus' presence in the top 50 markets, and would give the group's HQ staff its first opportunity to tune in an O&O from corporate headquarters in Atlanta. We are hearing some concerns from Wall Street though about whether Mr. Lew can devote proper attention to running both a public company, Cumulus, and a private one in which Cumulus would have only a minority stake.
10/10/05 RBR #198
Mullen out at
Tribune Broadcasting
After several quarters of soft revenues for its TV group, which the company has been blaming on Nielsen's Local People Meters (LPM), Tribune Company Pat Mullen has resigned. RBR observation: Pat Mullen has been one of the most vociferous opponents of LPMs. He wrote the May letter co-signed by 16 other TV groups which succeeded in getting Nielsen to temporarily delay its LPM rollout in Washington, DC and Philadelphia, although not in getting the ratings company to put the entire project on hold until it got all of its LPM markets accredited by the Media Rating Council (MRC). Mullen also testified on Capitol Hill against LPMs and in favor of Sen. Conrad Burns' (R-MT) to make MRC accreditation mandatory for any TV rating service. It will be interesting now to see if Tribune continues to be a leader in the campaign against LPMs, or if Mullen's successor - - yet to be named - - will decide to deal with the new ratings currency as a fact of life. PS: Do not be surprised to see more TV Presidents and CEOs out of work between now and end of first quarter 2006.
10/10/05 RBR #198
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Post just Opened
Local Sales Manager
Twin Cities at KFAN-AM 1130, America's premiere Sports Talk station, home of the Minnesota Vikings and Timberwolves. LSM needed at Clear Channel Radio Minneapolis-St. Paul. Have first hand experience developing direct sales with an understanding of Sports marketing and what it can do for your clients? Can you build, lead and motivate a winning Sports sales team? Got Game? Bring your winning attitude and business savvy to KFAN. See Radio Careers
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