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Volume 24, Issue 247, Jim Carnegie, Editor & Publisher
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Thursday Morning December 20th, 2007
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Radio News ®
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 November was another tough month
The Wall Street consensus is that the monthly RAB report will show radio revenues down 2% for November, but CL King analyst Jim Boyle now expects it to be worse than that - more like down 4-5%. He's also worried that the Q4 guidance given by the public radio groups may prove to be "rosy." The average guidance is for Q4 to be down 1.5%, but Boyle thinks the quarter is likely to be down 3%. "The long-time weakness in the top 25 markets persists with a minus 7% average in November. Mid markets averaged a 4% decrease and smaller markets were off an average of 2%. For context, mid-sized markets had 600bps tougher comps and smaller markets 500bps tougher comps than big markets. So, if one adjusted for one-year comparisons, mid-sized and small-sized markets did dramatically better than big Radio markets over effectively a two-year monthly snap-shot from November 2005 to November 2006 and on to November 2007," the analyst said in a note to investors. Boyle has repeatedly posed the question, "When does radio revenue rebound?" This time in answering his own question he notes that the automotive sector has to start spending on advertising again for the ad marketplace to improve - and that a recent Kelsey Group survey indicated that auto ad spending will be flat at best and could be down. "Unfortunately, radio was identified by Kelsey Group as an auto ad spend share loser, like newspapers, magazines, TV and Direct Mail, while Internet and Outdoor will gain auto ad share," Boyle noted.
 FitzSimons a short-timer;
Michaels on deck
Tribune Company CEO Dennis FitzSimons announced that he will exit the end of this month as the company goes private. There is no official word yet on who will be the key executives as Sam Zell becomes Chairman, but the Wall Street Journal reported that Randy Michaels will have some role at Tribune. The Chicago Tribune then reported that Zell himself might assume the CEO title, with Michaels heading the broadcast and Internet operations at Tribune. Michaels was CEO of Jacor Communications, the only previous media investment (and a profitable one) by Zell. He is currently CEO of Local TV LLC. Zell had earlier indicated that closing on the final phase of the two-step buyout was expected today, but that schedule may not be met. The Chicago Tribune reported that some of the banks involved in the deal were uneasy, fearing they would not be able to resell the debt in the current tight credit market.
In the company announcement of the change at the top, FitzSimons and Zell had glowing quotes to offer about each other. "Sam Zell is an entrepreneur with a phenomenal track record. He has made a significant investment in Tribune that indicates his strong belief in the value of the company's media assets. It was Sam's creativity, personal commitment and investment that made this transaction possible," said FitzSimons. "Dennis FitzSimons has provided Tribune with outstanding leadership through a challenging environment," said Zell. "He helped build the company into one of the nation's premier media businesses, and has been instrumental in guiding Tribune to the closing of this historic transaction. I wish him much success in the next phase of his career," said Zell.
RBR observation: It would be unusual, but not unthinkable, for Randy Michaels to hold major jobs at both companies. Local TV has bid on other things, but to date only owns the nine TV stations it bought from the New York Times Company. Besides, he has Bobby Lawrence as President and COO to run the operation on a day to day basis. We know that Randy had been visiting the Tribune properties, as we expected, to advise Zell. Who else would he turn to for advice on a media transaction? Now we wait to find out if Sam and Randy can work their magic again at Tribune and put it back on track as they did at Jacor.
Dorgan attacks FCC from Senate floor
Sen. Byron Dorgan (D-ND) took to the floor of the Senate yesterday to condemn the FCC's decision to relax cross-ownership rules in the top 20 markets, and promised to reprise the Resolution of Disapproval on the Senate floor in the very near future. He particularly attacked the underpinning justification that there is much more competition now than in 1975 due to new media. "We have more voices, the same ventriloquist." He then proceeded to pull out organization charts for the top communications companies, like News Corp., GE, Disney/ABC, showing how they tend to dominate across all of these media outlets. "It was unbelievably arrogant, what they did yesterday," said Dorgan, pointing out that the FCC allowed Americans 90 days to discuss the relationship between birds and towers, but only 28 days for the cross-ownership rule. He said it was unbelievable that the FCC thinks we need more media consolidation. He repeatedly attacked the practice of "voice-tracking" as the antithesis of localism, and once again brought up the Minot train derailment and the lack of an overnight Clear Channel employee at that company's six-station cluster to help get work out to local citizens.
RBR observation: FCC Chairman Kevin Martin would argue that Americans had much more opportunity to voice their opinion on media ownership than they did on birds and towers, but at this point, that would hardly seem to matter. The media ownership issue has reached a boiling point in which opponents seem to have zero-tolerance for even the slightest further relaxation.
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 Reps vow to fight
Berman royalty bill
The "Performance Rights Act of 2007," introduced by Howard Berman (D-CA) and Darrell Issa (R-CA) and Patrick Leahy (D-VT) and Orrin Hatch (R-UT) will not go unchallenged. Gene Green (D-TX) and Mike Conaway (R-TX), pictured, are planning to dig in and defeat it in favor of their own "Local Radio Freedom Act" that was introduced back in October. The duo claims 127 backers in the House.
Conaway said, "Time and time again the recording industry has attempted to place this costly and destructive fee on our local radio stations. Fortunately, Congress has repeatedly refused to implement this fee that would disrupt the mutually beneficial relationship between local radio stations and recording industries. Local radio provides an invaluable service in the community by relaying important weather information, national emergency information and important news that will affect the community. This 'performance fee' will place an unnecessary and devastating burden on the small local broadcasters and will inevitably hurt our communities."
"Local radio is the best promotional tool performance artists have," added Green. "During this year's Country Music Awards, we heard numerous country artists thank country radio for getting their music out to the public. If listeners like what they hear on the radio, they will go buy that track on CD or pay to download it online. Congress should not upset this balance by imposing additional fees on free, over-the-air broadcaster radio stations that not only promote musical artists, but keep our communities connected with other costly programming such as local news, weather and emergency information."
FCC action draws ample, mostly negative, commentary
"We're not done with this, not by a long shot," said Sen. Byron Dorgan (D-ND) in comments about the FCC vote relaxing cross-ownership rules in the top 20 markets. Dorgan has a bipartisan posse representing over a quarter of the Senate ready to take action to nullify the FCC's 3-2 party-line vote. Meanwhile, the NAB praised the same move, but expressed serious doubts about the FCC's proposals to promote localism. Like Dorgan, the NAB promises a serious review of the measures passed through the Commission. So far, there have been few ringing endorsements of the FCC actions. One came from Interep's Sherman Kizart, who was very pleased by the broadside fired by the Commissioners at no-Urban and no-Spanish dictates. And over at the Minority Media and Telecommunications Council, they were very happy to finally have a serious action aimed at their particular goals, although they were not happy with the definition of the businesses which would benefit from the FCC's action. The Newspaper Association of America was pleased with the top-20 rule relaxation but felt it didn't go far enough. The National Cable & Telecommunications Association felt it dodged the a la carte bullet but is generally upset about the regulatory attention it's getting from FCC chairman Kevin Martin. And labor unions, other watchdogs and other Democrats in Congress were highly displeased with much of the action. We will provide statements under the click for those interested in checking them out. Today, NAB, Dorgan, Dingell, Interep, MMTC & CWA.
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 Big November drop for Journal
Without much political advertising this year, TV revenues dropped 26.3% in November at Journal Broadcast Group to 11.46 million. The company said a 5.13 million decline in political and issue advertising was partially offset by increases in local and national spot sales. Radio revenues declined 9.6% to 6.92 million, with a decline of 670K in political and issue ad revenue and weakness in local advertising partially offset by an increase in national. So, for the entire Journal Broadcast Group, November revenues were down 20.8% to 18.38 million. Meanwhile, the newspaper side of Journal Communications also had a down month, with revenues off 5.9% to 21.62 million. Ad revenues for the flagship Milwaukee Journal Sentinel were down 4.7% to 13.67 million, with retail up 1.9%, but classified down 15.5% and national off 12.7%.
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| Wall Street Business Report TM |
DG FastChannel to acquire Vyvx ad service operations
DG FastChannel has entered into a definitive agreement with Level 3 Communications to acquire the Vyvx advertising services business including its distribution, post-production and related operations. DG FastChannel will pay Level 3 129 million in cash. Said Scott Ginsburg, DG FastChannel CEO: "Vyvx's blue chip customer base will gain access to DG FastChannel's omnipresent, state-of-the-art electronic network...The business combination we are announcing today will expand our opportunities to establish unified digital marketing solutions for multiple video platforms being developed for broadcast, cable, Internet and mobile advertising...During the next 14 months, U.S. television and cable operators are converting to a digital broadcast and an HD environment. As they do, DG FastChannel will have the resources necessary to deploy an 'HD Extreme' network and fulfill the demands of transmitting HD advertising content to broadcast-based media outlets." Vyvx is expected to generate 36 million of revenue and 11 million of EBITDA for the year ending December 31, 2007. DG FastChannel expects to act on 7 million to 9 million of identified operational synergies within one year of the closing.
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Ad Business Report TM
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Tubby's launches broadcast campaign
A new Tubby's Sub Shops broadcast campaign began running last week and a series of brand new radio and TV commercials will air throughout Michigan in 2008. The first TV and radio spots that broke last Friday have a Christmas theme. Though the themes are humorous twists on kids' Christmas lists to Santa and on the snacks kids leave for Santa on Christmas Eve, they all focus on the distinct difference of Tubby's subs: "It's the grill." The campaign was created by Alexander + Associates of Oak Park, Michigan. In 2008, the agency plans to run new Tubby's TV spots every six weeks as well as 12-15 new Tubby's radio spots. There will also be a chance for the metro Detroit public to show its singing ability in an "Idol-like" contest in late March or early April as part of a search for the Tubby's Trio. Groups of three will be invited to audition to sing their version of an updated Tubby's jingle. The winning trio will get to record its version of the jingle in a radio commercial airing in the summer.
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| Media Business Report TM |
 Viacom, Microsoft strike content, ad partnership
Viacom and Microsoft announced a broad-based, strategic alliance under which both companies will collaborate on advertising, content distribution, event promotions and games over the next several years. Microsoft will license long and short-form content from across Viacom's MTV, Comedy Central, BET and Paramount Pictures for use on Microsoft properties such as MSN and Xbox 360. Microsoft's Atlas division will become the ad server for Viacom's U.S. websites and Microsoft will have the exclusive right to sell remnant display ad inventory on those sites. Microsoft will buy advertising on Viacom broadcast and online networks over a five-year period and the companies will work together on promotions and sponsorships for MTV Networks and BET Networks award shows. Viacom will also work with Microsoft to become a preferred publishing partner across Microsoft's gaming platforms.
Microsoft will provide Viacom with its proprietary ad serving solution, known as Atlas AdManager. AdManager is an offering that Microsoft obtained upon completion of its of aQuantive in August. AdManager -- which operates within Microsoft's newly created Advertiser & Publisher Solutions division -- will providing an ad serving solution, optimization features, inventory forecasting, real-time reporting and precise audience advertising targeting. Viacom will provide unsold display ad inventory on its digital sites for Microsoft to sell and serve through both Microsoft Digital Advertising Solutions (MDAS) and DRIVEpm. Revenue generated by Microsoft will be shared between the two companies. The deal has a projected base value of 500 million in financial considerations and business services between the two companies over the initial five-year length of the agreement.
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| Media Markets & Money TM |
Citadel pulls one back from the trust
The Last Bastion Station Trust is lightening its load by one station, sending it back to Citadel Broadcasting Company, from whence it came. It seems that a CP sending a Charleston SC station over to the Columbia SC market opened cap room in back in Charleston. The retrieved station is WMGL-FM, licensed to Ravenel. The move of WNKT-FM from St. George SC to Eastover SC is what enabled WMGL to rejoin the Charleston cluster, which also includes WSSX-FM, WIWF-FM, WWWZ-FM & WTMA-AM.
Close encounter in Decatur
The 4.4M agreement sending five Decatur IL stations from Archway Broadcasting Group to Joyner Radio is officially in the books. The stations include WDZQ-FM, WCZQ-FM, WSOY-AM, WSOY-FM & WDZ-AM. Media Venture Partners represented Archway, and Michael Bergner represented Joyner in the transaction.
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| Washington Business Report TM |
So which markets are in the top 20?
Here, courtesy of Nielsen Media Research, are the Top 20 DMAs, where -- at least for the time being -- conditional print/broadcast cross-ownership enjoys the presumption of legality. (1) New York; (2) Los Angeles; (3) Chicago; (4) Philadelphia; (5) Dallas-Ft. Worth; (6) San Francisco-Oakland-San Jose; (7) Boston; (8) Atlanta; (9) Washington; (10) Houston; (11) Detroit; (12) Phoenix; (13) Tampa-St. Petersburg; (14) Seattle-Tacoma; (15) Minneapolis-St. Paul; (16) Miami-Ft. Lauderdale; (17) Cleveland-Akron; (18) Denver; (19) Orlando; and (20) Sacramento.
Coming to a Capitol Hill office near you
 Following the FCC's Tuesday vote, watchdog Stop Big Media didn't lose any time getting a click and send letter ready for its constituents to fire off to their own members of Congress. SBM is hoping for 100K signatures attached to the message. Here's the text of the letter bound for Capitol Hill:
Dear Members of Congress,
We write to you today to ask you to act swiftly to overturn the FCC's Dec. 18 vote to relax media ownership rules. We have spoken out against media consolidation in every way we know how: attending hearings, writing letters, submitting comments. However, on Dec. 18, the FCC ignored this widespread public opposition -- just like it did in 2003. The FCC has turned its back on its mission and its mandate. Their decision to let Big Media get even bigger will erode localism, diminish minority ownership, and decrease competition. Please take action now to overturn the FCC's reckless action.
Sincerely,
[Your name]
[Your address]
RBR observation: Note to click and senders: Nobody is impressed by your ability to click and send. Your message is much more effective if you write it yourself. Just trying to help.
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| Entertainment Business Report TM |
Westwood One presents year-end
CBS Radio News programming
Westwood One' year-end programming from CBS Radio News: CBS Radio News is providing two long-form year-end programs, a special package of 60-second "Year-End Reports" and a "Year in Sound" bulk feed. Reports on the year in medicine, technology, space, movies and sports will be featured, as well as a look back at this year's economic news, the Virginia Tech shootings, the Iraqi war, food recalls, toy safety, the people that made headlines in 2007, and more. CBS Radio News will also offer a 10-part special broadcast, "Year-End Tax Tips" for December programming. Geoff Colvin, senior editor of Fortune Magazine, will anchor this broadcast that provides listeners the steps to take to save big on taxes.
 1070 The Fan unveils hosts
for local sports show
1070 The Fan (WFNI-AM) unveiled plans for its new evening drive-time local sports talk show, which will feature Indianapolis Star sports columnist Bob Kravitz and well-known industry insider Eddie White. The show, which will run from 3 - 6 p.m. Monday- Friday on 1070 The Fan, will feature talk about local and national sports topics with the occasional side of guy talk. The show premieres on Monday, Jan. 7, when The Fan officially launches. White, who is older than Peyton Manning but younger than Donnie Walsh, is the former Vice President of Team Properties and Sports Marketing for the Adidas group. In October Emmis announced its plans to migrate WIBC-AM news and talk programming to the 93.1 FM frequency. On 12/26, 1070 AM becomes WFNI, The Fan and 93.1 FM becomes WIBC with a news/talk lineup. On 1/7, WFNI launches as an ESPN affiliate.
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| TVBR TV News |
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Q3 station revenues down 8.7%; total TV off 4.1%
Reflecting the absence of political and Olympic revenues, local broadcast television ad revenues were down 8.7% in Q3 of 2007, according to Susan Cuccinello, Sr. VP of research for the Television Bureau of Advertising (TVB), based on estimates supplied by TNS Media Intelligence in the top 100 markets. Network TV was flat in the quarter and syndicated TV was down 3.3%. Combined with local, that translates into a 4.1% decline for total broadcast television in Q3. 17 of the Top 25 advertising categories in local broadcast TV were down in Q3. Government & Organizations, which includes political spending, was down 67.5%. The biggest category, Automotive, was down 7.5%, and #2 Telecommunications was up 11.0%.
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3rd QUARTER 2007 SUMMARY
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3rd Qtr 2007
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3rd Qtr 2006
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% Change
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Local Broadcast TV
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4,286,005,100
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4,694,180,500
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-8.7
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Syndicated TV
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1,032,675,500
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1,067,425,500
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-3.3
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Network TV
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5,100,495,200
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5,101,707,300
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0.0
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Total Broadcast TV
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10,419,175,800
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10,863,313,300
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-4.1
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Jan-Sept 2007
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Jan-Sept 2006
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% Change
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Local Broadcast TV
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12,174,000,000
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12,977,565,700
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-6.2
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Syndicated TV
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3,030,346,500
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3,176,556,900
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-4.6
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Network TV
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18,423,809,200
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18,907,134,000
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-2.6
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Total Broadcast TV
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33,628,155,700
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35,061,256,600
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-4.1
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*Includes both local and national spot activity in the 100+ markets measured by TNS/MI.
Source: TVB, TNS Media Intelligence
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| Transactions |
600K KUZN-FM Centerville TX from KUZN(FM) Inc. (Gerald Proctor) to Aleluya Christian Broadcasting Inc. (Roberto R. Villareal, Rosalinda A. Villareal, Ruben V. Villareal, Roberta Rose Villareal). Cash. Buyer is a non-profit entity. [File date 11/30/07.]
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| Stock Talk |
Stocks close mixed
Continued credit worries gave Wall Street a mixed day. The Dow Industrials were down 25 points to 13,207. The S&P 500 was also off, but the Nasdaq Composite posted a small gain.
Radio stocks were mixed as well. The Radio Index declined 0.942, or 1%, to 95.566, a nine-year low. The best performer was Cumulus, up 2.1%. The worst was Beasley, down 9.7%.
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| Radio Stocks |
Here's how stocks fared on Wednesday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron
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ARB
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41.93
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+0.11
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Google
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GOOG
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677.37
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+4.02
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Beasley
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BBGI
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5.11
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-0.55
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Hearst-Argyle
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HTV
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21.73
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+0.13
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| CBS CI. B |
CBS |
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25.84
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-0.23
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Journal Comm.
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JRN
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8.95
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+0.13
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| CBS CI. A |
CBSa |
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25.78
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-0.29
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Lincoln Natl.
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LNC
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57.77
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+0.69
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| Citadel |
CDL |
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1.96 |
-0.03 |
Radio One, Cl. A
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ROIA
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2.02
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+0.01
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Clear Channel
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CCU
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34.86
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+1.09
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Radio One, Cl. D
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ROIAK
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2.05
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-0.04
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Cox Radio
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CXR
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11.36
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+0.07
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Regent
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RGCI
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1.49
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unch
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Cumulus
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CMLS
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7.85
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+0.16
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Saga Commun.
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SGA
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6.29
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-0.09
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Debut Bcg.
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DBTB
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0.90
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unch
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Salem Comm.
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SALM
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7.07
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+0.07
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Disney
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DIS
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32.26
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-0.76
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Sirius Sat. Radio
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SIRI
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3.25
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+0.03
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Emmis
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EMMS
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4.22
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-0.06
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Spanish Bcg.
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SBSA
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1.94
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+0.10
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Entercom
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ETM
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14.55
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-0.07
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SWMX
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SMWX
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0.01
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unch
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Entravision
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EVC
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7.74
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+0.09
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Westwood One
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WON
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2.09
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-0.01
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Fisher
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FSCI
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35.11
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-0.30
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XM Sat. Radio
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XMSR
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13.06
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-0.24
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Bounceback
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 We want to
hear from you.
This is your column, so send your comments and
a photo to [email protected]
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Below the Fold
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Media Business Report
Viacom, Microsoft
Strike content, ad partnership a broad based, strategic alliance for ad content...
Media Markets & Money
Citadel pulls 1 back
From the trust retrieved station is WMGL-FM...
Close encounter in Decatur
4.4M agreement sending 5 from
Archway to Joyner Radio is official...
Washington Business Report
Which markets are the top 20?
Courtesy of Nielsen Media Research RBR has them at least for the time being...
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Stations for Sale
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Silver City, NM
Powerful Hispanic FM
Lovington, NM
Heritage AM/FM Combo
Explorer Communications
E-mail: [email protected]
 Market your Stations For Sale
in our daily epapers.
Contact
Jim Carnegie
[email protected]
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Radio Media Moves
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 New CEO
at AMS
Frank McCoy has been named President and CEO of American Media Services LLC, effective January 1st. McCoy has been Exec. VP of Engineering at the radio brokerage, engineering and developmental engineering firm. In his new role, he succeeds Ed Seeger, who becomes Chairman of the board of directors. COO Andrew Guest becomes Vice Chairman of the board and current board chair Jim Fort will become Chairman Emeritus.
Horton named VP
Stacy Horton. Director of Affiliate Sales at Business TalkRadio Network, has been upped to VP/Affiliate Sales. Horton joined the company in 2004 in the affiliate sales department and was promoted to Director of Affiliate sales a year ago.
 Entercom ups Rushton
Entercom New England announced the promotion of current Vice President of AM Sales Jim Rushton to the newly created position of Vice President of Sales for Entercom New England. Entercom New England is comprised of Sportsradio WEEI-AM; Boston's Talk Station WRKO-AM; WAAF=FM; WMKK-FM, as well as O&O stations of the WEEI Sports Radio Network, including WEEI-FM 103.7 in Providence, WVEI-AM Worcester and WVEI-FM in Springfield.
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RBR Radar 2007
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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FCC and Martin
rumble in the Jungle
Everything hit the fan and the mediums are in a spin. FCC approves top-20 crossownership as FCC Chairman Kevin Martin got his 3-2 party-line vote to eliminate the crossownership ban in the top 20 Nielsen DMAs. A newspaper owner will be allowed to own a television station outside the market's top four, or a radio station, as long as eight independent voices remain and as long as the cross-owned entities maintain separate news operations. Plus, the Commission moved to impose localism requirements on television stations, requiring submission of a standardized form quarterly detailing various elements of local programming. It is now looking at extending these requirements to radio. Also they FCC moved to increase minority/female ownership.
RBR observation: Now we wait to see how long it will take for a legislative response, and how loud it will be. Elsewhere, the volume knob is already turning up toward the maximum level. Meanwhile, broadcasters are steamed about the potential imposition of new and onerous regulation and the Newspaper Association of America is already complaining about the restrictive nature of the loosened rule. RBR outlines complete reports in this issue. It is a jungle inside the beltway.
12/19/07 RBR #246
Performance Royalty bill
introduced in Congress
The long-threatened bill to force radio stations to pay royalties to record companies was introduced yesterday in both the House and the Senate. The "Performance Rights Act of 2007" was introduced in Senate. See the complete report in RBR.
RBR observation: Berman is right about one thing, and only one, from his speech - there should be parity for AM, FM and Internet radio. To that end, Congress should revise the digital copyright law - which, after all, was supposed to be about digital downloads, not streaming - and stop RIAA from making Internet radio operators pay for the privilege of helping the record labels sell records.
12/19/07 RBR #246
Don't fire until you see the whites...
Oh, go ahead and fire
Byron Dorgan (D-ND) is not waiting around to see what FCC Chairman Kevin Martin has up his sleeve before going public against it. In fact, he's rounded up a 24-member bipartisan posse of senators, including four Republicans and one independent, informing Martin that if he goes ahead with his plan to remove cross-ownership restrictions in the top 20 markets, they will "immediately move legislation that will revoke and nullify the proposed rule.
RBR observation: Ok if you were waiting for something interesting out of DC then now you have it. RBR will keep a close on FCC boss Martin as the - you know what hits the fan.
12/18/07 RBR #245
RBR expands; Kaufman on board
RBR/TVBR publisher Jim Carnegie announces that Dave Kaufman has joined the RBR/TVBR staff in our Sales/Marketing department. Kaufman, a 36-year front line broadcast executive, most recently spent the past five years as VP of Affiliate Relations for ABC Radio Networks and, prior to ABC, seven years with Westwood One as VP/GM and VP Affiliate Relations Metro Networks/Shadow Broadcast Services. His experience also includes 25 years on the station rep side, 23 of which were with Major Market Radio Sales, a rep firm of Interep.
RBR note: For many of you that know Dave Kaufman, he can be reached at [email protected] or at 973-839-8151.
12/18/07 RBR #245
Multicultural fined
for contest violations
Demonstrating once again that the FCC is very serious about enforcing its rules about running on-air contests, Multicultural Radio's KAZN-AM Los Angeles (Pasadena, CA) has been fined 12,000 bucks for what the Commission notice of apparent liability calls its "repeated and willful violation" of the rules requiring a station to fully and accurately disclose the terms of contests and conduct the contest as advertised.
RBR observation: This is not the first time that we've seen a licensee get tripped up by a sponsor not delivering on a promised contest prize. At least in this case it was only a few TV sets and, at least by our reading of the FCC's notice of apparent liability, the station doesn't have to deliver the missing three sets because no prize winners were ever announced for them.
12/17/07 RBR #244
Broadcasters, Associations Strike Back at micromanaging from DC
No one knows yet what will be in the Proposed Rulemaking on Broadcasting Localism that FCC Chairman Kevin Martin will unveil at tomorrow's meeting, but based on what's been leaking from the Commission into press reports, broadcasters are worried that Martin wants to bring back the bad old days of excessive regulation and micromanaging by Washington bureaucrats.
12/17/07 RBR #244
Citadel looks to trim down
Citadel Broadcasting Corporation announced that it has retained Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. to serve as its financial advisors for the divestiture of some of its stations. Citadel isn't saying just what it wants to sell, but says these divestitures are in addition to those required to be divested as a result of its acquisition of ABC Radio. Including those required divestitures related to ABC Radio, Citadel said it expects to generate 75-175 million in gross sale proceeds over the next 12-24 months.
12/14/07 RBR #243
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RBR Classifieds
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New Positions
Available in RBR Classifieds.
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©2007 Radio Business Report, Inc. All rights reserved.
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