|
Radio News ®
|
|
|
 Closing table was set,
but banks didn't show
Despite some disagreements with the banks over exactly what the terms of their loans would be, Clear Channel Communications says in an SEC filing that it was set to go to closing on its 26.7 billion bucks buyout last Thursday, as were the would-be buyers, Thomas H. Lee Partners and Bain Capital, but that the banks were a no show. In the same SEC filing, Clear Channel says it can't estimate a closing date and warns Wall Street that "a closing may not occur." Meanwhile, Clear Channel is keeping its bond tenders active in case this stand-off is resolved. The tenders for two bond issues had been set for last Thursday, but have now been extended to this Friday (4/4) - and, of course, they could be extended again and again. Clear Channel's board of directors has also put on hold any Q1 dividend payment to shareholders. The company said that was requested by TH Lee and Bain because the buyout closing had been delayed. "In support of their continued efforts to close the merger, the Company has agreed to honor that request," Clear Channel said.
RBR observation: We will be very surprised if this is resolved quickly. After 16 months of preparation to take the company private, Clear Channel is now in a state of limbo.
| Read what Clear Channel told the SEC about the failed closing |
Unclear closure for Clear Channel
Clear Channel has issued a statement reiterating its desire to bring its 26.7B privatization deal to a satisfactory conclusion. However, the latest in a long series of hurdles -- a platoon of skittish bankers -- has shed new doubt on the transaction, and Clear Channel admitted that it cannot say when, or even if, the deal will close. A release at the investor relations section of the company's database gave a run-down of the current difficulties, said, "The closing of the Merger has not occurred." Then, under a forward-looking statement disclaimer, it noted a number of factors which could potentially prevent the deal from being consummated. There are 10 of them, as a matter of fact, listed under the click.
| Ten reasons the Clear Channel deal may fail to close |
RBR observation: The more skittish the legal department, the more inclusive the forward looking statement clauses may be in company releases. Perhaps this is a reason: The per-share offer to take the company private in 39.20; as of 3:30PM EDT, the most recent sale on the NYSE was for 28.26.
 Diary markets to get own call; Arbitron touts PPM for Urban
If the majority of radio markets have felt left out as Arbitron held conference calls each month to discuss the PPM rollout, stations in diary markets are now getting their own opportunity to air their gripes and ask questions. Arbitron Radio Advisory Council Chairman Chuck DuCoty (pictured), COO of NRG Media, announced Friday that quarterly conference calls are being planned to deal with diary issues. And, as Arbitron works to convince large market stations that their future is, indeed, PPM, clients in the top 50 markets can expect to receive a seven-page letter this week from Arbitron CEO Steve Morris detailing what has happened with electronic measurement to this point and what's ahead.
| Read more here |
|
|
|
NAB has a new suit of disclose
Broadcasters have been extremely leery of the new enhanced disclosure rules that the FCC has been intent on installing as a measure to promote localism. The NAB has decided to take it a step beyond protesting the rules to the FCC -- it's taking its case to the DC Circuit. NAB intends to argue that the rules are (you'll never guess) "arbitrary and capricious; contrary to law; and unconstitutional." NAB Executive Vice President Dennis Wharton explained, "America's broadcasters have no quarrel with serving the public interest. Indeed, public service is the lifeblood of our business, and the most successful radio and television stations are laser-like in their commitment to community, whether that be in the form of local news, raising millions for charities, or saving childrens' lives with Amber Alerts. Our concern with the new FCC rules are their scale and scope, and the burden involved in complying with this new mandate, particularly for smaller stations. Free, local broadcasting serves a unique role in the fabric of American life, and we would submit that the impact of these regulations would negatively impact the ability of many broadcasters to continue to serve our communities."
RBR observation: The big question is what the FCC would do with the massive pile of data it is seeking to collect once it has it in house. There's going to be a channel that syndicates home shopping fare generated from a distant location, without a single iota of local programming. That may not be a recipe for soaring to the #1 position in the local ratings, but last we heard there was nothing illegal about it. And somebody in the local community must be using the station, or it'd have to find some other type of programming. So if the FCC will not have the force of law to strip such a programmer of its license, what's the point of wasting everybody's time, and the taxpayers' money, collecting a meaningless mountain of data?
 State AGs petition
FCC on XM/Sirius
A coalition of state attorneys general, led by Mark Dann of Ohio, have fired off a letter to FCC Chairman Kevin Martin and the other four commissioners expressing their dismay with the DOJ approval of the merger of satcasters XM and Sirius. They asked that Martin apply a sterner public interest test than did DOJ. The AGs said they were disappointed that the DOJ did not put conditions in place to remedy the anticompetitive aspects of allowing the merger to go through. "Given that the FCC looks to a broader public interest standard than does the DOJ in fashioning its decisions in this context, we urge the FCC to address these important issues and give due consideration to the many concerns of the states." They promised to help the FCC arrive at that conclusion. Joining Ohio's Mann are AGs from Connecticut, Iowa, Maryland, Mississippi, Missouri, Nevada, Oklahoma, Rhode Island, Utah and Washington. Meanwhile, the Seattle Times also weighed in against the ruling. Citing DOJ's contention that XM/Sirius compete with various different types of media, the newspaper noted that so do those various types of media cited, "...without the privilege of a monopoly." It said the "potential loss of competition in this relatively new medium does not bode well for robust, consumer-friendly programming."
|
|
|
|
| Wall Street Business Report TM |
Diller wins first round with Malone
The Delaware Chancery Court has handed Barry Diller a big victory, ruling that he can go ahead with his plan to split IAC/InterActive Corp. into five publicly traded companies. After a five-week trial, the court ruled that the proxy agreement under which Diller votes Liberty Media's majority voting stake in IAC does not give Liberty the right to veto the proposed split-up. Liberty Media Chairman John Malone is incensed that the super-voting power his company owns in IAC, although voted by Diller, would be diluted to ordinary voting rights in the four new companies to be formed. Despite the court's ruling, Malone could still try to get the IAC board of directors to reject Diller's plan, or the companies could negotiate a deal to spin part of IAC off to Liberty Media in exchange for its stock.
|
|
|
|
|
Ad Business Report TM
|
 "Project Reinvention"
committee to meet soon
At the TVB last week, CEO Chris Rohrs and EVP Abby Auerbach noted to attendees that Kathy Crawford, MindShare President/Local Broadcast (present and sitting in the first row), continues to help spearhead the "Project Reinvention" effort announced at the recent AAAAs in Orlando (3/10/08 RBR #48)--and that she and the committee will be meeting with broadcasters in the near future to start hammering out the details. Crawford tells RBR/TVBR they are only missing one member of the team...
| Read more here |
A course well charted in rough seas; Radio take note!
The TVB last week was better than ever, with presentation after panel session focusing on how to make more money, more efficiently in this digital age. As we mention in the related story below, non-profit TVB is dedicated to solving industry problems before they get cumbersome-ePort is but one shining example. EVP Abby Auerbach in three months has taken the system all over the map-from broadcasters to software vendors to agencies. This is a system that will handle regular air time, non-air time, digital multicast channels, website inventory and mobile streaming inventory. The big push there was training of staff, more agency and station participation and for agencies and customers to specifically request electronic ordering. It's in the industry's hands now and in all probability it will keep adding more and more stations. The growth curve is steep.
| The other big takeaway |
|
|
|
|
| RBR Poll |
Pick the format
If it were up to you to have to pick the format for the FM signal that Bonneville International is buying from Radio One, what would it be? The only sure thing is that it will not be an Urban format, which has proved troublesome for the seller. RBR/TVBR asked consultant Bob Harper for his analysis of the market. Read what he has to say and then go vote on RBR.com
 If I were Bonneville...
Congratulations to Bonneville and President-CEO Bruce Reese on the company's acquisition of KRVB-FM and return to Los Angeles. RBR/TVBR has asked me to dust off my crystal ball to make a prediction or two about what format might soon appear on 100.3FM. Disclosures: a) I admire Bruce, Bob Johnson, Drew Horowitz, and Greg Solk a great deal and I have had the pleasure of working with Bonneville in many, if not all, of their markets over the years. You can count on them making a thoughtful and informed decision about V-100. b) I have no insider knowledge of what that decision might be so I am winging it here on my own. First question I would ask: Who is under the signal umbrella?
| Read more here |
|
|
|
|
| NAB Daytime Planner |
 |
The following will be attending the NAB. Call or email to make your appointment in advance.
|
|
BROKERS
John Pierce & Company LLC;
John L. Pierce, Jamie Rasnick;
office 859-647-0101, John cell 859-512-3015; Jamie cell 513-252-1186, Bellagio Hotel; [email protected]; [email protected]
Serafin Bros., Inc.; Glenn Serafin;
office 813-885-6060; cell 813-494-6875;
Planet Hollywood (formerly the Aladdin) Hotel; [email protected]
Kozacko Media Services;
Dick Kozacko, George Kimble;
office 607-733-7138; Dick cell - 607-738-1219; George cell - 520-465-4302; Bellagio Hotel; [email protected], [email protected]
Frank Boyle & Co; Frank Boyle,
office 203-377-3030;
Frank cell 203-249-07818;
Rio Suites Hotel;
[email protected]
Schutz & Company;
Bill Schutz; Bellagio Hotel;
office 757-258-8740,
Bill cell 757-880-9251;
[email protected]
|
BROKERS
Patrick Communications;
Larry Patrick, Managing Partner;
Susan Patrick, Managing Partner;
Greg Guy, Managing Partner;
Todd Wirth, Director;
office: 410-799-1740;
Larry cell 410-707-4602 Bellagio Hotel; [email protected], [email protected]; [email protected]
CONSULTING ENGINEERS
Cavell Mertz & Associates, Inc.;
Gary Cavell, Richard Mertz, Dan Ryson; Main Office 703-392-9090;
[email protected]
BANKERS
Dover Capital Partners, LLC
Kirk Warshaw, General Partner
Peter Ottmar, General Partner
Office: 401/723-1063, x109
Peter's Cell: 401/639-4958
Bellagio Hotel; [email protected];
[email protected]
| Bankers | Brokers | Legal |
| Traffic Systems | Consulting Eng. |
Contact [email protected] to get your company listed today. |
|
|
|
|
| Media Markets & Money TM |
KIOT riot in Albuquerque
Three Univision FMs and a fourth that has been placed in a Trust are going to Allen B. Shaw's Centennial Broadcasting. All four are part of the Albuquerque NM market, with two also providing service to nearby Santa Fe. According to brokerage Kalil & Co., which handled the deal, the price is 24M. The Univision Albuquerque Trust, run by Bob Woodward, is transferring KIOT-FM Los Lunas, with the other three coming direct from Univision. They include KJFA-FM Albuqueque, and -- serving both Albuquerque and their city of license of Santa Fe -- KKSS-FM and KJFA-FM. With a pending deal to acquire stations in two small Virginia markets, Fredericksburg and Winchester, Shaw is on the threshold of group ownership.
|
|
|
|
| Washington Business Report TM |
 An unusual agree
to decree arrangement
Generally, when the FCC and a licensee enter into a consent decree, at dispute is a matter that is both serious and often in a gray area -- like foe example a matter of indecency enforcement where the rules are subject to interpretation. Public file issues are usually a bit more cut and dried -- either the files are in compliance of not. But it is precisely a public file issue which has the FCC and Bilbat Radio agreeing to decree for WHHO-AM and WKPQ-FM, both of Hornell NY. The precise nature of the dispute was not revealed in documents released by the Commission, but the terms are pure consent decree style. The two parties agree that battling this out to the bitter end "would be time consuming and require a substantial expenditure of public and private resources." So Bilbat admits to no wrongdoing, and gets both licenses renewed. It will also donate 10K per station to the US Treasury and institute various policies and undertake to train and educate its staff, to assure that its public files are in compliance in the future.
|
|
|
|
| Internet Business Report TM |
Comic Wonder offers free market exclusive deal
ComicWonder.com, a competitive joke-telling forum via an audio-based website allows participants to add their joke performances to broadcaster sites via telephone for all the world to enjoy. Comic Wonder provides a market-exclusive, turnkey promotion package that includes: a market exclusive license and a co-branded audio joke player where listeners will find the joke-of-the-day and can participate in the year-long contest to find the Comic Wonder of the Year. Comic Wonder recently went live on an Entercom station's Web site, 103.7 KISS FM (1037kissfm.com/) Milwaukee.
 Verizon Wireless subscribers
access ESPN Radio simulcast
ESPN and Verizon Wireless has launched a mobile simulcast of ESPN Radio, exclusively on Verizon Wireless' V CAST Mobile TV service. The ESPN Radio channel will join ESPN Mobile TV on V CAST Mobile TV, and gives customers access to popular radio programming, including "SportsCenter AM," "GameNight" and "The Pulse."
|
|
|
|
| Ratings & Research |
Arbitron February PPM update:
The good and the questionable
Arbitron delivered its February PPM update Friday, with President of Sales and Marketing Pierre Bouvard mentioning they are continuing to exceed benchmarks set by The Radio Advisory Council late last year around total sample in 18-34 - the age cells that clients had been complaining about most last November regarding data and sample size. "Four months later we can say we're getting results," noted Bouvard in the call. "We're meeting or exceeding 87% of the benchmarks across the eight markets."
| Read more here |
RBR observation: The good news is that Arbitron has the ability to get sample rates and DDIs up. While they may have over-shot the mark here with Urban, the goal now is to keep the sample up in all demos and stabilize the numbers to get and keep MRC Accreditation in PPM markets. It's a process, but hopefully they will get it right and gain the confidence back from broadcasters.
Consumer confidence of Young Chinese soars
as U.S. consumer confidence sinks
The China Market continues to thrive with double-digit increases in both retail sales and GDP. Unprecedented growth, combined with some extra cash found in red envelopes from the Chinese New Year, has helped to fuel young Chinese consumers' confidence in the first quarter of 2008, according to BIGresearch's latest China Survey of over 4,500 young Chinese consumers between the ages of 18-34. When it comes to economic outlook, 74.3% of Chinese consumers ages 18-34 say they are confident/very confident in their economy, a stark contrast in comparison to their American counterparts as only 33.2% say the same. 71.1% of Chinese would definitely/probably invest in the Chinese stock market, vs. the 53.1% of American consumers who have the same feelings towards the U.S. stock market. 70% of Chinese car owners indicate gas prices have greatly impacted their spending, compared to 83.7% of American car owners. 20.9% of Chinese car owners say they will take fewer shopping trips as a result of fluctuating gas prices; 36.5% of American consumers are likely to do the same.
|
|
|
|
| HD Radio 2008 |
HD Digital Radio Alliance
pushing consumers to "upgrade"
 HD Radio is moving into a new phase, effective today. "We've really done a pretty good job creating awareness, meaning that people are now aware that HD Radio is there, they have some sense of what it is. There is a certain knowledge base that now exists. But the real challenge is converting that consumer awareness into intent to purchase," says HD Digital Radio Alliance President and CEO Peter Ferrara. Beginning today, the Alliance is beginning a new campaign to convince consumers to "upgrade" to HD Radio. With some 70 million radios sold each year in the US, the effort is now focused on getting consumers to seek out HD Radio receivers when they make a receiver purchase. Of course, that 70 million includes lots of OEM receivers sold in vehicles. Some automakers have already announced plans to offer HD Radio products and efforts are continuing to have HD Radio receivers available in more and more models of new cars and trucks. Spots with the new tag line "HD Radio - It's Time to Upgrade" are now available at www.HDRadioAlliance.com. iBiquity will also be using the "upgrade" theme in its promotional materials for HD Radio.
|
|
|
|
| Monday Morning Makers & Shakers |
Transactions: 2/11/08-2/15/08
Not only was there not much action during this week, and not only was the total value of the action spectacularly unimpressive, almost 75% of that value was invested by one noncommercial radio group (see below). Looking ahead, if anybody is waiting to see reports of a February trading breakout, we strongly advise that you do not hold your breath. The more astonishing fact? Two weeks in this young year contained even less trading value than this one did.
| - |
Total |
Mkts 1-50 |
Mkts 51-100 |
Mkts >100 |
Unrated |
| AMs |
5 |
0 |
0 |
0 |
5 |
| FMs |
7 |
0 |
1 |
2 |
4 |
| TVs |
0 |
0 |
0 |
0 |
0 |
| Total |
12 |
0 |
1 |
2 |
9 |
| -Type |
Trans |
Stations |
Value |
| Radio, 1 mkt |
11 |
12 |
4.615M |
| TV, 1 mkt |
- |
- |
- |
| Rad-TV, 1 mkt |
- |
- |
- |
| Radio, multimkt |
- |
- |
- |
| TV, multimkt |
- |
- |
- |
| Rad-TV, multimkt |
- |
- |
- |
| Totals |
11 |
12 |
4.615M |
©2008 Radio Business Report, Inc. All rights reserved.
Radio Trans. of the Week: EMF strikes again
It seems there is almost always room to consider using the headline "EMF strikes again" -- we refer of course to noncom Religious outfit Educational Media Foundation (it also had the #2 transaction this week). It's latest target is another FM that will exit the commercial world: Pamplin Broadcasting's KTSL-FM, serving Spokane from Medical Lake WA. The price is 2.15M.
TV Trans. of the Week: All quiet
Well, not quite. Newport Television LLC/Providence Equity Partners Inc. parked a number of television stations its in the process of acquiring from Clear Channel into a trusteeship, not the type of transaction we keep track of in this space.ing LLC. Robert Behar is both among the sellers and the buyers in this 100M transaction.
|
|
|
|
| Transactions |
152K WMLR-AM Hohenwald TN from Cochran Communications Inc. (Michael Hinson) to Grace Broadcasting Services Inc. (Charles Ennis, Lacy Ennis, Phillip Chambers et al). Cash. Combo with WFGZ-FM Lobelville TN. LMA until closing. [File date 2/25/08.]
75K KHZS-FM CP Kalispell MT (Saint Regis MT) from Horizon Christian Fellowship (Michael MacIntosh) to Anderson Radio Broadcasting Inc. (Dennis L. Anderson, Nyla Y. Anderson). 5K deposit, balance in cash at closing. Superduopoly with KQRK-FM Ronan MT, KERR-AM Ronan, KIBG-FM Bigfork MT. CP is for Class C2 on 99.1 MHz with 850 w @ 2,759'. [File date 2/25/08.]
|
|
|
|
| Stock Talk |
A bad news Friday
A weak government report on consumer spending and a profit warning from JC Penney sent stock prices lower on Friday. The Dow Industrials were off 86 points, or 0.7%, to 12,216.
Radio stocks joined the retreat. The RBR Radio Index declined 0.379, or 0.4%, to 86.82. With the Clear Channel buyout on hold, investors are apparently worried about Cumulus Media's buyout as well. Its stock fell 3.9%. Entercom was down a bit more, 4.3%. The day's best performer was Regent, up 13.4%, although that was only a 13-cent gain for the penny stock.
|
|
|
|
| Radio Stocks |
Here's how stocks fared on Friday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
|
Arbitron*
|
ARB
|
|
42.55
|
-0.13
|
Google
|
GOOG
|
|
438.08
|
-6.00
|
|
Beasley*
|
BBGI
|
|
5.00
|
+0.16
|
Hearst-Argyle
|
HTV
|
|
20.48
|
-0.49
|
| CBS CI. B |
CBS |
 |
21.94
|
-0.47
|
Journal Comm.
|
JRN
|
|
7.41
|
-0.19
|
| CBS CI. A |
CBSa |
|
21.94
|
-0.52
|
Lincoln Natl.
|
LNC
|
|
51.00
|
-0.79
|
| Citadel* |
CDL |
|
1.55 |
-0.01 |
Radio One, Cl. A
|
ROIA
|
|
1.58
|
-0.04
|
|
Clear Channel*
|
CCU
|
|
29.20
|
-0.40
|
Radio One, Cl. D*
|
ROIAK
|
|
1.59
|
-0.04
|
|
Cox Radio*
|
CXR
|
|
12.02
|
-0.25
|
Regent*
|
RGCI
|
|
1.10
|
+0.13
|
|
Cumulus*
|
CMLS
|
|
6.21
|
-0.25
|
Saga Commun.*
|
SGA
|
|
6.08
|
-0.20
|
|
Debut Bcg.
|
DBTB
|
|
1.05
|
unch
|
Salem Comm.*
|
SALM
|
|
4.18
|
-0.10
|
|
Disney
|
DIS
|
|
31.00
|
-0.38
|
Sirius Sat. Radio
|
SIRI
|
|
2.80
|
-0.03
|
|
Emmis*
|
EMMS
|
|
3.52
|
-0.11
|
Spanish Bcg.*
|
SBSA
|
|
1.87
|
+0.07
|
|
Entercom*
|
ETM
|
|
9.70
|
-0.44
|
Westwood One*
|
WON
|
|
2.08
|
-0.04
|
|
Entravision
|
EVC
|
|
6.45
|
-0.15
|
XM Sat. Radio
|
XMSR
|
|
11.63
|
-0.22
|
|
Fisher
|
FSCI
|
|
30.56
|
-0.68
|
-
|
-
|
-
|
-
|
-
|
*Component of the RBR Radio Index
|
|
|
|
|
|
Bounceback
|
 We want to
hear from you.
This is your column, so send your comments and
a photo to [email protected]
|
|
|
Below the Fold
|
|
RBR Poll
Pick the format, If I were Bonneville,
We take a look see at what the strategy may be...
Ad Business Report
"Project Reinvention"
Committee to meet soon Radio needs to get someone on that committee!...
Media Markets & Money
KIOT riot in Albuquerque
Three Univision FMs & a 4th that has been placed in a Trust...
Ratings & Research
Arbitron February PPM update:
The good and the questionable...
|
|
|
Stations for Sale
|
 Market your Stations For Sale
in our daily epapers.
Contact
Jim Carnegie
[email protected]
Northern California
FM Group
* Highly Desirable Market
* Excellent Signals
* Seller Financing Available
 The Exline Company
Andy McClure
Erick Steinberg
415-479-3484
[email protected]
|
|
|
Radio Media Moves
|
Change at RAB
The RAB announced its marketing division has split into a Business Development unit dedicated to key advertiser focus and a Marketing/Communications department led by Leah Kamon, who joins as SVP/Marketing & Communications. RAB CEO Jeff Haley will lead the Business Development effort. Kamon will establish a marketing and communications effort across all of RAB's departments and divisions and be heavily involved with the Radio 2020 initiative. She joins the RAB from Time Warner where she directed internal communications. As part of the restructuring, Mary Bennett, EVP/National Marketing, is leaving after 12 years to pursue other interests.
|
|
|
More News Headlines
|
25-Seven Systems introduces program delay monitor
25-Seven Systems announced the arrival of its Program Delay Manager (PDM) in both IP audio and standard digital/analog I/O configurations. PDM offers full protection against unwanted broadcast content while providing excellent audio performance and 25-Seven's unique PD Alert system. PD Alert enables the PD and/or other key personnel to receive e-mail notification that program material was blocked from airing, including an audio file containing the content deleted by Program Delay Manager. PD Alert eliminates second-guessing about what was and was not aired during the incident. PDM will be shown in the 25-Seven Systems NAB booth, N-7936 and at both Telos/Axia and Broadcaster's General Store's displays.
Zimmerman
wins Pep Boys
Zimmerman Advertising has been named agency of record for The Pep Boys - Manny, Moe & Jack, the nation's leading automotive aftermarket retail and service chain with 562 stores in 35 states and Puerto Rico. Pep Boys spent 85 million last year in measured media.
|
|
|
RBR Radar 2008
|
|
Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
|
Next at CC, Hair Cut time
What happens next? Getting a judge in San Antonio to order giant banks to fork over 20 billion bucks is one thing - getting the cash in hand is another. The six banks who have balked at funding the 26.7 billion bucks buyout.
RBR observation: Just how are the banks blocking the deal while, according to the private equity firms and Clear Channel, pretending to negotiate credit terms? Read more observation here in RBR.
03/28/08 RBR #62
RBR Intelligence Brief
WiFi Radios: Getting your
station out there-even more
One of the latest tech crazes is WiFi Radio-with all of the free WiFi Hot Spots, WiMax and just plain unprotected wireless internet clouds in neighborhoods across the nation, these WiFi radios are able to act like a traditional radio-grab a signal and play music.
RBR observation: This report is awesome read it here
RBR03/28/08 RBR #62
TVB 2008 Conference
challenges broadcasters
Every media sector is being buffeted by sociological and technical changes...if I were a pilot, I'd tell you to keep your seatbelts fastened," said Rohrs, "If I were a motivator I'd say it's our time to power up localism and unlock the value of new platforms and new services.
TVBR observation: How many times have we said it recently - that feet on the street is the key? Local audiences are the underlying strength of the television business. Localism is the value that your station has available to advertisers. That's true both of your broadcast signal and new digital platforms. Program local and sell local. See today's Ad Business Report section for more on that topic from a true guru, Jim Doyle. Also see - Jim Doyle: We've got to sell "Local local" in this issue of TVBR
03/28/08 TVBR #62
Hi ho, hi ho, it's off to court we go
Talks on final financing terms for the 26.7 billion bucks going private buyout of Clear Channel have officially broken down. Restraining order against banks Oked, at 3:49am this morning, 3/28/08, a Market Watch alert reported; "Texas judge granted a temporary restraining order for banks not interfere with or thwart consummation of a planned $19 billion buyout.
RBR observation: This court battle should be familiar territory for one of the banks. Wachovia, has already had a legal fight over providing financing for a big broadcasting deal - coincidentally, the buyout of Clear Channel Television. Got to read more here in RBR's complete analysis
03/27/08 RBR #61
Minority-owned broadcaster
nailed on EEO
Entravision Holdings' Brownsville-McAllen TX radio group, which includes KFRQ-FM Harlingen, KNVO-FM Port Isabel, KVLY-FM Edinburg and KKPS-FM Brownsville, has been hit with an admonishment for failing to follow EEO job notification procedures.
RBR observation: There you have it. Just because you're running a minority operation, staffed with an exemplary number of individuals from the minority population, does not get you off the hook for following required EEO procedures. Yeah, it probably seems a little bit like when the nurse wakes you up to give you a sleeping pill, but the rules are the rules.
03/27/08 RBR #61
Clear Channel Battle Rages On
Shares plunged in after-hours trading as the Wall Street Journal posted a story on its website that the private equity buyout was "near collapse." After closing at 32.56, the stock fell to 27.50 by 4:40 pm ET, 3/25/08. The mood darkened in recent days as the private equity firms, Thomas H. Lee Partners and Bain Capital, worked on details of the credit agreement with their bankers. According to one source quoted by the WSJ, "no one wants to do this deal except for the seller."
RBR observation: The long roller coaster ride for Clear Channel employees is not over yet. But what are they supposed to do while this battle rages behind closed doors? The company went into a holding pattern at the beginning of the year, with Clear Channel Radio CEO John Hogan calling a halt to virtually all hiring, promotional spending or any spending that could be delayed. Now it looks like that state of limbo is going to continue into Q2. Along with the radio stations, folks at Katz, RCS, Inside Radio and the other businesses that Clear Channel owns don't know how to plan for the future. What's that going to do to morale? Reported First by TVBR, the Hogan memo 01/28/08 TVBR #25.
03/26/08 RBR #60
Take the money and run
Goldman Sachs analyst Mark Wienkes is telling clients to sell their Sirius shares as they surge on the DOJ merger approval. Don't wait for the FCC, he warns. Warning of a potential 30% or so downside, Wienkes has added Sirius to Goldman Sachs' "Conviction Sell List."
03/26/08 RBR #60
|
|
|
RBR.com Classifieds
|
Account Executives
WDCW-TV, Washington's CW has two immediate openings. First, for entry-level AE and Second, need an experienced New Business local AE. Highly motivated self-starters who have the ambition to be successful apply. Winning attitude is important. Requirements include ability to develop long-term relationships and have strong closing skills. Must be well-organized and possess excellent presentation skills. EOE. To apply see TV Careers
Hard finding that key person
to fill the important position at your organization? Try RBR Classifieds.
|
 |
|
|
|
|
