Ratings agencies assess radio's creditworthiness
Amid numerous credit downgrades for broadcasting companies, the S&P decision for NextMedia was relatively good - an affirmation of its credit rating, albeit with a negative outlook. For Cumulus Media Partners, though, Moody's Investors Service downgraded its credit ratings, also with a negative outlook.

RBR observation: The radio business isn't going away, but with ad sales suffering loan covenants are going to be a big concern in 2009. In his analysis last week that cut ad spending expectations for all media, BMO Capital's Lee Westerfield noted that Beasley, Cumulus, Emmis, Entercom, Regent and Salem are the public radio companies in the greatest danger of breeching loan covenants. That list could grow.

Analysts ponder CBS
After digesting the Q3 report from CBS Corporation, a couple of analysts are out with notes to clients that the company's dividend appears to be intact for the time being. But with ad revenues under pressure, neither is getting excited about the stock as an investment, despite the 12% yield.

Dingell urges restraint on Election Night
Powerful Rep. John Dingell has fired off letters to seven key broadcast executives urging them to take it easy with any proclamations of victory 11/4/08. That means holding off until 11PM Eastern to accommodate later poll closing times in the Pacific time zone. It's not just about the presidential race - suppressed turnout could be a factor down ticket. "[I]t is critical that television coverage of the election results does not serve to depress voter turnout," he said, citing Florida 2000 as broadcast journalism's worst hour.

RBR observation: As we've noted before, at our house we will likely pick a channel and stick with it all night. Therefore there is no horserace to be first to make the call. We will not even be aware of what's happening at other channels.

Fox, FCC square off at SCOTUS
Tomorrow, the Supreme Court is set to hear arguments in the FCC v. Fox Television Stations. Oh, and we also hear that the government is holding an election that day. As for FCC v. Fox, website SCOTUS WIKI says there are several possible outcomes. It could be remanded to the FCC, tossed in its entirety. Or, if the FCC successfully argues it has authority under communications law to punish, a First Amendment challenge from broadcasters could be heard either at Second Circuit or SCOTUS.

RBR observation: At issue here also, unmentioned in the SCOTUS WIKI analysis, is the fact that the FCC just suddenly, of its own volition, took its fleeting expletive standard operating procedure and stood it on its head without warning. It also needs to bear in mind the damage that may be done to the long-standing tradition of live broadcast of events of public interest.

Stations missed Chase Utley's F-Bomb in Philly
Chase Utley, World Series Champs Philadelphia Phillies second baseman, dropped of the F-bomb Friday on live TV and radio in that market. After proclaiming "World champions!" at the Phillies' celebration at Citizens Bank Park, Utley leaned into the mic and said, "World f-ing champions." The crowd loved it, but, according to s Philadelphia Inquirer story, anchors from four local TV stations issued on-air apologies almost immediately. KYW-TV CBS3's came later. "The technician hit the button, but missed by a hair," a station spokeswoman told the paper. If you missed it you can view the video at RBR.com…

RBR observation: We doubt the FCC would go after so many broadcasters in the market for what was likely an unavoidable slip. Fact is, they almost caught it. And let's face it-this is a little different than showing live nudity at a SuperBowl. While it didn't work this time, the system is in place for this kind of surprise.

Clear Channel already in a panic: 2009?
RBR has already received information that Clear Channel Radio Sales (spot), managed by Alan Korowitz is frantically fishing in the network radio pond. Like we've heard before with Citadel (9/11/08 RBR #178), we've heard there's a big move inside of Clear Channel to target specific network radio avails, outside of Premiere Radio Networks.

RBR observation: Information that we've received from the buying community is a little surprising...

Arbitron, Gary Fries meet with
diary caucus for improvements
Arbitron has met for the fourth time with a group of diary-market broadcasters called the Diary Market Owner/Operator Caucus to review and plan for service improvements for diary-based ratings markets. The meeting was held in Chicago on October 29 and was led by Gary Fries, president emeritus, Radio Advertising Bureau.

ABC Radio Networks, Comcast sign
for E!, The Style Network, G4
ABC Radio Networks and Comcast Entertainment Group signed a product development and distribution agreement that will bring branded content from E! Entertainment, The Style Network and G4 to terrestrial radio audiences for the first time. Program offerings will include celebrity and entertainment news from E!, women's lifestyle programming from Style and the latest on technology, web culture and video games from G4. All content will be available to stations on-air and online.

New Parking spot for WY FM
KRFD-FM in Thayne WY isn't just heading for a new owner, it's also hoping to head for a new city of license in a new operating class. The station is being sold to Chris Devine's College Creek Media to Cochise Broadcasting, owned by Ted and Jana Tucker. If a CP application is not approved and the station remains a Class C3 in Thayne with 380 w @ 2,333', the price will be $250K. If it is allowed to upgrade to C2 with 11 kw @ 1,050' in South Park WY, the price will be $470K. In either case, the station will remain on 105.9 MHz.

N/A KORB-FM CP, FM CP & FM CP Juneau AK from One Ministries Inc. (Keith Leitch et al) to Educational Media Foundation (Mike Novak). Swap for KAIS-FM CP Hopland CA. KORB-FM CP is for 88.1 MHz, FM CP #1 is for 89.7 MHz & FM CP #2 is for 90.5 MHz. All three are Class C3 with 10 kw @ -1,214'. [FCC file date 10/8/08]

N/A KAIS-FM CP Hopland CA from Educational Media Foundation (Mike Novak) to One Ministries Inc. (Keith Leitch et al). Swap for KORB-FM CP and two additional FM CPs, all licensed to Juneauy AK. KAIS-FM CP is for Class A on 88.7 MHz with 11 w @ 1,394'. [FCC file date 10/8/08]

Prime action at MNL halftime
Hopefully there will not be any costume reveals or any other such shenanigans - or perhaps hopefully there will be, if it can change the outcome of the presidential race tomorrow. What we're trying to say is that football won't be the only contest on ESPN during tonight's NFL match-up when the Pittsburgh Steelers, representing a major city in a prime battleground state, take on the Washington Redskins, representing the target residential city of the two presidential candidates. Barack Obama and John McCain will each have a last minute chance to make their case to voters. The sessions with interviewer Jim Gray will go out to the radio audience over Westwood One.

RBR observation: Although our household is united on the presidential contest, it is anything BUT united on the football contest. Our better half shares with our publisher an unstinting love of the Steelers dating back to Steel Curtain days. Since we like to be paid regularly, and we also like to be allowed to sleep in our own bed, we will root for the Redskins as always, but will do so with humility and grace. Unless of course they are able to annihilate Big Ben and crew.

CBS Radio Detroit offering four Christmas channels
For those who "Need a little Christmas - Right this very minute", CBS Radio Detroit has launched HolidaysinDetroit.com, a website featuring four brand new active holiday music channels, a gift guide, a listing of Holiday activities and more.

Sports/Talk 101.1 announces Saint Louis University
Billikens Basketball partnership
Bonneville St. Louis Radio Group announced a three-year agreement between Sports/Talk 101.1 and Saint Louis University to serve as the flagship radio station for men's Billiken Basketball. As the new ESPN affiliate for St. Louis starting in 2009, Sports/Talk 101.1 will broadcast all regular-season and post-season Billikens Basketball games for the 2008-2009 season.

Transactions: 9/15/08-9/19/08
Last week the report in this space was so bad that it put the lack in lackluster. This week, we can report a total trading value more than six times greater. However, that still only gets us a little bit over the $3M mark. There were eight transactions featuring eight stations - no television action whatsoever - and three of the eight were cash free flips of noncommercial FM CPs. Perhaps this means we've stepped up to putting the drum in doldrum.

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Chernoff upped at
CBS Radio NY
Mark Chernoff, Vice President of Sports Programming, CBS Radio and Operations Manager, WFAN has been named VP/Programming for CBS Radio's New York Market, effective immediately.

Lee Enterprises
suspends dividend
The one-time TV group owner is facing tough going for its remaining business - newspapers. Lee Enterprises struck a new credit agreement with its lenders which requires it to halt dividend payments to shareholders until it improves its balance sheet. The Davenport, IA-based company sold its eight television stations to Emmis Communications for $559.5 million in 2000. Back then Lee's stock traded in the $30s and peaked in 2004 just shy of $50. Lately it's been below $3.

Streams and Podcasts are Great News
News and Talk broadcasters have realized that the original content that they produce has lots of value - and distributing it on different platforms makes sense... More at RBR.com
10/31/08 RBR #214

Analyst: Severe ad recession is unavoidable
Westerfield is no doubt correct that balance sheets will have to be improved via industry-wide de-leveraging and consolidation. What remains to be seen is where the strong will find capital to acquire the weak and whether new players with deep pockets will become major entities. Look for some familiar names to be consigned to the history books in the coming years. But which ones? Answer: Only the Strong and Innovative will survive and grow.
10/31/08 RBR #214

No timetable for CBS station sales
Moonves insisted that getting the right price for the radio assets is more important than timing. More at RBR.com
10/31/08 RBR #214

Beasley settles indecency cases
It was just a few days ago that the FCC tossed out a bunch of allegations from a long-time protagonist...But Beasley wasn't completely off the hook. It's now settled indecency complaints against two stations.
10/31/08 RBR #214

RBR observation: It is apparently a bit unusual for a company to continue operating in Chapter 7, which is bankruptcy liquidation, but as a service company Interep's primary assets are its rep contracts, which won't be worth anything if the rep firm stops repping.
10/30/08 RBR #213

Copps sees no
return of Fairness
The Fairness Doctrine cannot work, if only because it presumes that there are only two sides to each and every issue. There are massive problems associated with the FCC's localism proceeding as well...
10/30/08 RBR #213

Interview: Laura Ingraham: The big fix for dull, predictable talk radio
For purposes of brevity I will focus on the old media types--those lumbering journos and institutions whom I collectively refer to as the "dinosaur media." Here's the good news: Their cover has been blown.
10/30/08 RBR #213