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Welcome to RBR's Daily Epaper
Volume 22, Issue 221, Jim Carnegie, Editor & Publisher
Thursday Morning November 10th, 2005

Radio News®

At deadline: Bush moves to fill FCC
Meet Deborah Taylor Tate. She is a Director and former Chairman of the Tennessee Regulatory Authority and President George W. Bush's nominee to fill the vacant Republican seat on the FCC. He also renominated Democrat Michael Copps to another term. Tate is not a complete stranger to Washington. In her capacity as a state telecom regulator, she has served on the FCC's Federal-State Joint Conference on Advanced Telecommunications Services. Prior to her regulatory career, Tate served as Director of the State and Local Policy Center at Vanderbilt University. She also has strong GOP credentials. In Tennessee, she once served as an Assistant to Governor Don Sundquist and Assistant Legal Counsel to Governor Lamar Alexander.

RBR observation: We can't say much about Tate, since we'd never even heard her name until last night. She is yet another telephone regulator who will need to be brought up to speed on the other areas that the FCC regulates, including broadcasting. Although Copps is always a source of good copy for us, his renomination is unfortunate for broadcasters, in particular, since he has never bothered (or wanted) to learn just which aspects of broadcasting the FCC has jurisdiction over, and which it doesn't.

Interep jumps into TV...Spanish TV
Interep, the second largest company in the radio rep business, is making its first foray into television in a deal with Una Vez Mas (UVM), the largest affiliate group for the Azteca America network. The new rep firm, Azteca America Television Sales (AATS), will handle national ad sales for the 12 existing UVM stations and another dozen to be added in the next 18 months. In addition, Interep veteran Bob Turner, who has been named President of AATS, expects to soon announce deals with other Azteca America affiliates. The network (which has no O&Os due to foreign ownership restrictions) is owned by TV Azteca, based in Mexico City, which is the world's second-largest producer of Spanish language TV programming. Azteca currently has affiliates in 38 US markets and plans to be in 60 by the end of 2006. "Hispanic media is an enormous growth market, and offers the perfect foundation for this expansion into television," said Interep CEO Ralph Guild. What about expansion into English TV representation? "Right now the plan is to be successful in Spanish and eventually, yes, into general market as well," Turner told RBR/TVBR. UVM had not previously had a rep and handled its national spot business directly. AATS will begin operations from seven offices in existing Interep locations: New York, Chicago, Los Angeles, San Francisco, Miami, Dallas and San Antonio.

RBR observation: If you look at the October RBR/TVBR Solutions Magazine, you'll find on page three an article headlined "Interep in need of a rebirth" and on pages 19 and 20 an interview with Azteca America President/COO Randy Nonberg and President of Television Bob Hyland about their expansion plans for their company in the hot US Hispanic market. This deal should be good for both companies. We understand that UVM had talks with other potential reps, but saw Interep as being hungry to open a new growth avenue - - something that's been lacking at the radio rep firm in recent years.

Microsoft and AP team for
"AP Online Video Network"

The Associated Press and Microsoft's MSN are teaming to develop the "AP Online Video Network" to provide AP members with free (ad-supported) news video for their websites. AP member websites participating in the new net receive a custom-branded MSN Video player, daily news video from AP, pre-stream advertising to run adjacent to the video in the player, and a share of the ad revenue. The deal is the first time MSN Video player technology will be syndicated to sites outside its network. will continue to be the exclusive video news content partner for MSN's network of sites. MSN will provide the video player and technology and will sell the ads for the new, fully ad-supported service. AP will retain full control over editorial content. The service will launch in Q1. "This partnership will empower AP members to compete in an emerging segment of Web content," said Tom Curley, AP CEO. "The expertise MSN brings in online video technology will be a key factor in the success of the network." Initially, AP will provide approximately 50 video clips per day covering national, international, entertainment, technology and business news. The AP Online Video Network will grow over time as network members and other content partners contribute their own video. In addition to providing AP members with a customizable Windows Media-based video player, MSN will work to develop other network products, including a local advertising and content syndication system for AP affiliates within the network.

RBR observation: Another nail pounded into local newspapers and the networks dinner hour evening news. Giving the consumer what they want when they want it as they are in control. But remember this will open local sales opportunities for radio and TV as local advertising is used to hit the consumer when they are ready to make key purchases. Re-read the above as no place does it mention - Local news content.

Political revenues missed at NY Times TV
Just how big was the impact of political advertising in the final days of the 2004 campaign? Huge. The New York Times Company reports that October revenues for its TV group were down 25.5% this year to 13.8 million - - a shortfall blamed solely on the lack of political spending. Year to date, revenues for the TV group are down 5.9%. Meanwhile, New York Times Media Group (newspaper, radio and Internet, except advertising revenues were up 4.7% in October to 222.1 million, with national up 9.3%, retail down 2.4%, classified up 2.7% and other up 10.2%. Circulation revenues were down 1.4% and newly acquired contributed 5.9 million in revenues, so total New York Times Company revenues were up 2.5% for the month to 348.2 million.

Yager argues that telcos must carry, too
A wide array of witnesses appeared before the House Subcommitttee on Telecommunications and the Internet to discuss draft legislation on Internet protocol and broadband. Barrington Broadcasting's Jim Yager was there on behalf of the National Association of Broadcasters, making the point that protections for free over-the-air television built into the Cable Act of 1992 need to be extended into this new era, to new delivery platforms. Yager started by welcoming new entrants into the MVPD business. At the same time, he noted the critical role broadcast stations play in providing content of local interest, particularly in an emergency situation. To preserve local service, protections already on the book for cable need to be extended. "The must-carry rules guarantee that even the smallest station, in the most remote market, is not locked out of cable households," said Yager. "The flip side of the coin is retransmission consent. It recognizes that cable operators derive great benefits from local broadcast programming. So, the '92 Act gives stations the option to negotiate carriage terms with cable operators. Together, the retransmission consent and must-carry laws have been a win-win for both viewers and for local television." He also pointed out the need to protect network and synidcated exclusivity. Finally, he argued against a four-year review, saying statutory certainty was a necessary element of any legislative package.
| Read Yager's full testimony here |

More sexual content on TV
70% of all network TV shows contain at least some sexual content, and the number of scenes containing such content has nearly doubled since 1998, according to "Sex on TV 4," an installment in a series of reports from the Kaiser Family Foundation. In 1998, 56% of all shows had sexual content, averaging 3.2 scenes per hour. Those numbers jumped to 64% and 4.4 scenes per hour in 2002, and reached 70% and 5 scenes per hour in 2005. However, the actual depiction or strong implication of intercourse has actually decreased since 2002. In 1998, 7% of all shows went close to the edge, a figure which jumped to 14% in 2002 but dropped to 11% in 2005. The study looked at a wide variety of genres, excluding news, sports and children's programming. Looking at the flip side of the coin, among shows with such content, 9% had at least one scene where the risks or responsibilities of sexual content were featured, a number which increased to 15% in 2002 and stayed almost flat in 2005 at 14%. In shows with strong sexual content, an increase over 1998 exists, albeit with similar flatness compared to 2002. The progression is 14%-26%-27%. Kaiser's Vicky Rideout commented, "Given how high the stakes are, the messages TV sends teens about sex are important. Television has the power to bring issues of sexual risk and responsibility to life in a way that no sex ed class or public health brochure really can."

Conference Calls 2005
WorldSpace revenues up,
but so are costs

If you like the red ink at XM and Sirius, then you should love the Q3 report from WorldSpace, a US-based satellite radio company that broadcasts primarily to third-world regions. The company ended Q3 with 75,071 subscribers after adding 11,141 during the quarter. That meant that subscription revenues tripled from a year ago to 959K. Add in other revenue sources and total revenues for the quarter were 2.4 million, up 51% from a year ago. But operating expenses were up 75% to 47.6 million. That's right, operating expenses were 19.8 times revenues. But because its recent IPO slashed its debt, interest expenses dropped to just below the total of incoming revenue, so the company's bottom line net loss dropped to 15.4 million (48 cents a share) from 57.3 million (9.90 per share) a year earlier. By the way, if you bought shares in the August IPO at 21 bucks each, they're now fetching just over 10 bucks. In announcing the Q3 numbers, CEO Noah Samara chose to focus on subscriber growth, rather than the company's cash burn (sound familiar?). "During the third quarter we have made operational progress that puts us well on the path of delivering strong subscriber growth," he said.

RBR observation: Noah Samara is a great guy, but as much as we think the business plans of XM and Sirius are fatally flawed, they look downright reasonable next to WorldSpace. It's been in operation longer than either of the US satellite radio companies and it's still talking about tens of thousands of subscribers, rather than millions. And since its target audience is in mostly poor countries, it can't charge anywhere close to the monthly subscription fee of its US cousins. During Q3, it spent 4.9 million on marketing and promotion in India, where it recently began service. So far, of the 50 million plus people in the six Indian cities where it is selling WorldSpace service, 35,670 have signed up, including 7,737 from that 4.9 million bucks marketing push.


Allstate launches advocacy effort on catastrophes
Allstate is delivering a new national campaign launched yesterday in major newspapers across the U.S, raising awareness and spur a national dialogue about better preparing and protecting Americans from catastrophic events. The campaign offers ideas about how we can all help better manage our nation's response to these devastating events before they strike and offers some startling catastrophe facts for consumers to consider. The campaign also represents a call to action for consumers to evaluate our country's disaster preparedness for themselves and get involved by becoming part of the solution through the http://www.ProtectingAmerica.Org coalition. The campaign will include full-page ads in The New York Times, The Wall Street Journal, the Washington Post, the Washington Times, the Chicago Tribune and Capitol Hill publications Roll Call and The Hill.

Copy details include:
1. Strengthen first responders. Build additional capacity into local police and fire departments so that the situation can be stabilized, human suffering minimized and further property damage prevented.
2. Better understand the growing risks. More people are moving into areas that are at higher risk for natural disasters. Many who live in these areas may not fully appreciate the risk or chose not to purchase broader protection. Either way, add the two together, and it's a disaster waiting to happen.
3. Rebuild smarter and stronger. In some parts of the country, building codes aren't strong enough to make buildings withstand the catastrophes that are likely to occur.
4. Create catastrophe funds. The public and private sectors must wor together to create a financial backstop program at the state and federal level that can provide consumers more protection at lower cost. Funds would accumulate in advance of catastrophes so we are better prepared. Consumers and insurance companies cannot solve this crisis alone.

Lincoln Zephyr, American Airlines pact in cross promotion
The 2006 Lincoln Zephyr sedan is adding luxury to the busiest travel period of the year with a wide range of complimentary services offered through American Airlines at select airports. This promotion, via Y&R, Detroit and part of a multi-faceted marketing alliance between Lincoln and American Airlines, runs from 11/20 through 11/23. To kick off, the Celebrated Living Readers' Choice Platinum List Survey Sweepstakes will be presented by Lincoln Zephyr. Readers are invited to vote for their favorite hotels, golf courses, spas and cruises for a chance to win a 2006 Lincoln Zephyr and their share of 1 million AAdvantage miles. Celebrated Living is the luxury publication for American's Premium Class passengers.

The promotion also includes:
* Complimentary "dinner and a movie" on American Airlines meal service transcontinental flights to and from Boston, Los Angeles, San Francisco, New York's JFK, Miami, Newark, and Fort Lauderdale airports.
* Complimentary neck and shoulder massages offered at American Airlines gates in New York's LaGuardia Airport and Dallas/Fort Worth International Airport on 11/23, the day before Thanksgiving.
* Admirals Club members will enjoy complimentary buffets provided by Lincoln Zephyr at New York's LaGuardia, Newark, St. Louis, Austin, Denver, Kansas City, and Washington Dulles airports.
* Lincoln Zephyr advertising and collateral material will be distributed in seven Admirals Clubs through May 2006.
* Lincoln Zephyr TV spots and other branded content will be featured on all routes with in-flight entertainment capabilities also through 5/06 as part of the CBS Eye on American Inflight Television programming.
* Later this month, Lincoln and American will announce an online promotion on

Media Markets & MoneyTM
Close encounter on Cape Cod
Qantum Communications has completed its Cape Cod spin-off, necessitated by its own acquisition of stations there from Boch Broadcasting. The deal, brokered by Doug Ferber of Star MEdia Group, brought Qantum into compliance with local ownership caps by sending WPXC-FM Hyannis, WDVT-FM Harwichport and WTWV-FM Mashpee to Nassau Broadcasting for 10M. The trio had been run in a trust by Mark O. Hubbard since the Boch buy. Qantum started with WCIB-FM Falmouth, WRZE-FM Nantucket and WPXC-FM Hyannis and bought WXTK-FM West Yarmouth, WCOD-FM Hyannis, WDVT-FM Harwichport & WTWV-FM Mashpee from Boch for 21.31M prior to cutting the Nassau agreement to seal the deal once and for all.

A merger coming in penny stock land?
International Broadcasting Corporation, a publicly traded penny stock company, announced that it had received an offer from an unidentified private entity to acquire IBC. "The offer is in consideration for a 300,000 cash payment and a publicly-traded, non-reporting pinksheet shell that is owned by the buyer. The current management, assets, and operations the IBC Radio Network would be moved into the public shell while current shareholders of IBC would become shareholders of the private company merging in. IBC is currently in discussions with the buyer to receive permission to disclose more details about their business, revenue, and other information that will be of significance to shareholders," IBC said in announcing receipt of the letter of intent. CEO Daryn Fleming said IBC is evaluating whether the proposal is in the interest of its shareholders. IBC Radio Network Syndicates business programs on which companies pay a fee for their executives to be interviewed, along with some talk shows focusing on science and the paranormal.

Washington Beat
Auction No. 62 taking shape
253 qualified applicants are now on approach for take-off as the 171 sticks on the block for FM Auction No. 62 head toward a scheduled 1/12/06 commencement. Another 81 applications are deemed incomplete. In both cases, upfront payments are due 12/2/05. In the case of incomplete applications, the FCC is overnighting the specific deficiencies, which also need to be addressed satisfactorily by 12/2/05. But there's no need to wait - - the window to do so is open immediately. Five applications were rejected. A primary reason for rejection is being a noncommercial entity in competition with a commercial operator for a station outside the reserved band. The left-out quintet includes Democracy Now! Productions, The Praise Network, The Sister Sherry Lynn Foundation, Western Family Television and WRVM Inc. Despite that stipulation noted by the FCC, noncoms such as Educational Media Foundation and Horizon Christian Fellowship are on the active list, along with a lot of usual suspects. A few familiar names are sitting on the incomplete list at the moment, including Cumulus, Forever, Saga and Multicultural.

Evansville stations launch relief effort
Radio and TV stations in the tornado-ravaged area around Evansville, IN are banding together for relief efforts reminiscent of those seen earlier this disaster-plagued year for hurricane relief. Four TV stations - - WFIE (Ch. 14, NBC), WTVW (Ch. 7, Fox), WAZE (Ch. 19, WB) and WNIN (Ch. 9, PBS) - - teamed up yesterday with the five radio stations of SouthCentral Communications and cable operator Insight Communications to promote an all-day "Tri-State Tornado Relief" telethon. Being no stranger to fund-raising, the PBS affiliate provided the phone bank at its studios and several stations did live broadcasts from the main donation center, the Eastland Mall. The money raised is going to the Red Cross and Salvation Army to aid tornado victims in the region. At least 22 people were killed and more than 600 homes destroyed when a band of tornadoes tore through the area along the Indiana-Kentucky border this week.

Stern returns, meets with Hollander
Howard Stern returned from his one day suspension yesterday opening the show with a montage of songs which included Led Zeppelin's ''Babe I'm Gonna Leave You'' and ''I'm Free,'' ''Hey, hey, hey goodbye,'' ''The end of the innocence'' (Don Henley), ''This is the end'' (The Doors), ''Seen the Lights go out on Broadway'' (Billy Joel), ''I Feel Free'' (Cream) and ''American Idiot'' (Green Day). He then discussed a meeting about his suspension over too many on-air mentions of Sirius with Infinity CEO Joel Hollander. As we figured, it may get legal soon (11-8 RBR #219). Stern mentioned he received another legal letter about what he can and can't say about Sirius on his show and said, "This doesn't feel right, it feels like you guys are preparing a case against me."
| More from the meeting, from Stern site |

Stern won't get street-level studio after all
Fans of Howard Stern won't be able to see the shock jock at work from a major street-level studio, reports The New York Post. Sirius Satellite Radio had planned to construct a new studio for Stern at the southwest corner of 48th St. and Sixth Ave. Sources tell The Post that the owners of 1221 Ave. of the Americas - - the Rockefeller Group Development Corp. - - "didn't want Pamela Anderson walking around in the altogether in the windows of the building." Instead, Stern is getting a more private and secure spot on the 36th floor, where Sirius already occupies offices.

Ratings & Research
Scarborough adds five
new markets to local studies

Scarborough Research has expanded its list of local market services to include consumer shopping, media and lifestyle surveys across five new markets. In 2006, for the company's Top Tier Market Studies, Scarborough will be measuring consumer patterns in 80 DMAs, as compared to the 75 surveyed in 2005. Additionally, Scarborough will offer a Mid-Tier Local Market Consumer Study in six DMAs in 2006. The Mid-Tier Studies will survey adults 18+ on consumer categories including media, shopping and lifestyle behavior. Data will be collected through a single consumer questionnaire. The survey lasts 6-8 weeks. Portland, ME; Bluefield-Beckley, WV; Columbia, SC; Johnstown-Altoona, PA; Reno, NV and Salisbury-Ocean City, MD are the DMA's in which the Scarborough Mid-Tier Studies will be introduced in 2006. The first data from these markets will be available in March 2006 except Portland, ME in which the consumer survey data is available now. Bakersfield, CA; Chattanooga, TN; Colorado Springs, CO; Green Bay, WI; and Little Rock, AR are the local markets that Scarborough will be adding to its roster of Top-Tier Local Markets making a total of 80 consumer studies available through this Scarborough service. For these studies, in-depth consumer behavior and media patterns are collected via a telephone interview, product questionnaire, and personal television diary. Scarborough is collecting consumer data within its Top Tier markets continuously throughout the year and releases consumer data twice a year to a client base of media companies, advertising agencies, and Fortune 500 marketers.

2006 budgets and capital expenditures:
VPs/Engineering discuss, Part II

In this two-part yearly RBR/TVBR series (from our September and October RBR/TVBR Solutions Magazine), we ask top engineers at the radio groups where 2006 budgets and capital expenditures are heading. What's tops on the list for projects and new equipment? This year, we asked the following:

Glynn Walden, Infinity SVP/Engineering
Milford Smith, VP/Engineering, Greater Media
Cris Alexander, Director of Engineering/Crawford Broadcasting
Norman Philips, VP/Director of Engineering, Susquehanna Radio
Steve Davis, CC Radio SVP, Engineering & Capital Management

| Read More... |

2.2M KSLK-FM Visalia-Tulare-Hanford CA from New Visalia Broadcasating Inc. (Robert Eurich) to Moon Holdings LLC (Abel de Luna Sr.). 200K deposit, 1M cash at closing, 1M on first January 10th in the year following closing. 800K allocated to non-compete. Duopoly with KMQA-FM. LMA 11/1/03. [File date 10/17/05.]

757K FM CP Greenville-New Bern-Jacksonville (Aurora NC) from Eastern Carolina Public Radio (Barry Keith Eckhardt) to Pathway Christian Academy Inc. Payment of construction costs, 520K in notes, debt assumption. Noncommercial. CP is for a Class C2 on 91.1 mHz with 40 kw @ 351'. [File date 10/13/05.]

Stock Talk
Hope springs eternal...
Wall Street traders are hoping for a year end rally. There's not much yet to indicate that they're going to get one. But just the hope of a rally was said to be putting upward pressure on stocks yesterday. Go figure. Anyway, the Dow Industrials crept up six points to 10,546.

Radio stocks didn't move much. The Radio Index edged up 0.203, or 0.1%, to 190.729. Cumulus was the day's big mover, if you can call it that. Its stock fell 1.9%.

Radio Stocks

Here's how stocks fared on Wednesday

Company Symbol Close Change Company Symbol Close Change













Journal Comm.




Citadel CDL
13.68 -0.15

Radio One, Cl. A




Clear Channel




Radio One, Cl. D




Cox Radio












Saga Commun.








Salem Comm.








Sirius Sat. Radio








Spanish Bcg.
















Viacom, Cl. A








Viacom, Cl. B








Westwood One








XM Sat. Radio




International Bcg.










Send Us Your OpinionsWe want to
hear from you.

This is your column, so send your comments and
a photo to [email protected]

Yesterday you reported (11/09/05 RBR #220) Raul Alarcon and Lew Dickey were the latest CEOs under the analyst call "hot seat." Both were taken to task for poor performance or non-core acquisitions. The Q3 performance of most public radio companies has been lackluster at best. Many stocks are at 52 week lows. Billions in value are being lost. The radio industry is under attack from new technology, HD radio has yet to be developed, and the diary is an antiquated measurement of audience that has no confidence at the agency level. What are radio CEO's doing about it?
| Read More... |

(Confirmed - - approved by publisher)

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Below the Fold

Ad Biz
Allstate launches advocacy
effort on catastrophes
launched yesterday in major newspapers...
RBR observation: When will they get it that the print is DOA..

Stern returns, meets with Hollander
mentioned he received another legal letter...

Washington Beat
Auction No. 62 taking shape
253 qualified applicants are now on approach for take-off

Media Markets & Money
Close encounter on Cape Cod
Qantum Communications has completed its spin-off...

More News Headlines

Kix Brooks tapped
as the new host of American Country Countdown

Kix Brooks (without singing partner Dunn) has been tapped by ABC Radio Networks as the new host for its American Country Countdown. "The thing about Kix - - not only is he a consummate entertainer, he loves what he does...and he has done it as completely as anyone I've ever seen," says John McConnell, SVP/ABC Radio Networks. "He knows the music. He knows the songs. He knows the people. He knows the life. But especially, he knows the stories - - and the artists and fans just seem to take him places they wouldn't most other people."

November RBR/TVBR Digital Magazine

Ad Biz
Katrina's effect on national and spot business: We speak to agency buyers and reps about what Katrina's (and Rita's) effect has been on national spot business. How did the buys get done? How did the messages change?

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
November Issue of RBR/TVBR

RBR Radar 2005
Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.

Alarcon skewered for move into TV
One irate money manager suggested that SBS should walk away from the 37.5 million bucks purchase, saying it had cost the company some 300 million in market capitalization on Wall Street. "You've gone in my book from a free cash flow generator after your refinancing really to an entity with unknown spending habits and potentially more spending down the road - - a real black hole,"
RBR observation: Alarcon's once secret weapon was radio top PD Bill Tanner but he is gone leaving the SBS boat with a shaky course. Trust SBS's solid board will deliver the guidance to Alarcon before he has to report his fourth quarter earnings as the words said above by financial critics will be even harsher. Next year is the year that Wall Street will also have to be held accountable - time to get tough. "...unknown spending habits and potentially more spending down the road - - a real black hole," Ouch! - That had to hurt. - Guess What? Watch for more of this action with all public media companies in 2006.
11/09/05 RBR #220

Circulation of U.S. weekday newspapers takes 2.6% hit
The average weekday circulation of U.S. daily newspapers fell 2.6% in the six months that ended in September, led by a 16.6% drop for The San Francisco Chronicle. The figures released Monday by the Audit Bureau of Circulation.
MBR observation: Remember the thrilling days of yesterday when radio and TV both said Newspapers are the enemy because that is where the big ad dollars were going? Time to take this excuse off the table and time to think new business development for 2006 as newspapers have earned the titled of news and life printed yesterday. It is time to think of a possible joint Sales Management conference between RAB and TVB.
11/09/05 RBR #220

Comcast, CBS; NBC Universal, DirecTV strike VOD deals
for hit shows
January customers will be able to view episodes of key programming for 99 cents. And you thought ABC and iPod had a deal. TV networks learning out of the mother of invention to get some ROI on their programming. But this is not without down falls. The 99 cents with no advertising is not real clear.
TVBR observation: Note there are no opportunities for commercials. Asked Jon Mandel, Chairman/MediaCom US his thoughts - "Here's the problem - - anybody who has studied pricing theory knows to jump to 99 cents with no advertising is either a badly-written press release or they didn't do enough study in pricing theory..."
11/09/05 RBR #220

VNU trying to get out of IMS merger
Has finally confirmed what we reported several weeks ago - the seven billion bucks acquisition of IMS Health is likely not going to get to closing. RBR observation: While it's pretty clear that the transaction is on life support with no hope of recovery, the debate now is about how to pull the plug. Once the planned merger is officially terminated, VNU will have to deal with a remaining problem - - dissatisfied shareholders and those major shareholders are likely to continue their united front and demand changes at VNU - - either a big stock buyback, sale of the publishing division or even putting the entire company up for sale.
11/08/05 RBR #219

Entercom has his eye on ABC Radio
CEO David Field is making no bones about wanting ABC Radio and spelled out in his quarterly conference call...but only if the terms and conditions of the deal make sense for our shareholders. Kicker: if there's no ABC deal, would he look at taking Entercom private? Field said management is looking at all options. RBR observation: Come on this barn door has been swinging so long and so hard it is about to fall off the frame. For the life of us, we can't see any reason for Iger to even consider selling or merging ABC Radio in such a soft market.
11/07/05 RBR #218

Cox's Neil sees HD multicasting
as "killer ap"
He's still waiting for research on how to number HD Radio multicasting channels, Neil is gung-ho on the new technology. multicasting is the "killer ap" for terrestrial radio's move to digital. If consumers can get twice as many channels with a new receiver - - and not have to pay a monthly subscription fee - - what's not to like? RBR observation: Still lots of talk on HD but radio as a business has many issues to face and it seems the business just keeps adding to the plate as many past issues still have not been resolved. But we like Neil's attitude.
11/03/05 RBR #216

Stern loss is "slight concern"
future CBS CEO Les Moonves on the impact of losing 5% of Infinity's revenues, but Moonves insisted there was only "slight concern" about Stern's departure. Noting that Infinity recently announced 10 different replacements for Stern on various stations, Moonves said some will work and some won't. But he also noted that Stern's contract had gotten so expensive that Infinity wasn't making much profit on his show anyway. RBR observation: Stop and Please listen to Moonves audio clip above and you will not believe your radio ears. It is clear why some higher ups inside Infinity are not concerned - the new boss is not concerned as Radio to Moonves is just margins game. Not programming, content, branding, marketing, people - Just Margins - swell just swell.
11/02/05 RBR #215

Cumulus is radio's new #3 with Susquehanna acquisition
At 1.2 billion bucks worth with some big equity funds - - Bain Capital, The Blackstone Group and Thomas Lee Partners - - to create a new partnership, Cumulus Media Partners LLC, which could make an acquisition at a higher multiple than the dismal one being used to price Cumulus' stock. In fact, this deal is structured to be accretive to Cumulus, the public company.
11/01/05 RBR #214

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