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Volume 24, Issue 65, Jim Carnegie, Editor & Publisher
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Tuesday Morning April 3rd, 2007
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Radio News ®
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 Can Sam Zell fix
the newspaper business?
February was a particularly bad month for the US newspaper business. Sam Zell had better hope that is not the start of a trend for an already suffering business to get even worse. The Chicago real estate billionaire thinks he knows how to make money from the so-called "old media" assets currently losing market share to new media. His track record in media, though limited, is good. He made a lot of money for himself and others when he bailed out Jacor Communications and eventually sold it to Clear Channel. "I am delighted to be associated with Tribune Company, which I believe is a world-class publishing and broadcasting enterprise. As a long-term investor, I look forward to partnering with the management and employees as we build on the great heritage of Tribune Company," Zell said in the announcement confirming that he had won the deal, increasing his bid to 34 bucks per share to match a late bid by rivals Eli Broad and Ron Burkle. CEO Dennis FitzSimons will be staying on - and he will no longer have to deal with the dissatisfied Chandler family, Tribune's current largest shareholder, which has agreed to support the buyout. Zell will become Chairman, but will not have majority voting control. That could be important when the company tries to convince the FCC to let it keep its current broadcast/newspaper crossownership combinations intact. The biggest shareholder will be a new Employee Stock Ownership Plan (ESOP), so Tribune will be primarily owned by its employees - and they will also be responsible for billions in new debt being taken on to fund the deal. Zell will personally invest 315 million. Citigroup, Merrill Lynch and JPMorgan Chase have made commitments to fund new loans totaling 11.2. Add in bond debt that will remain and the total value of Tribune Company is around 13.2 billion after this complicated two-stage reorganization. Stage one, which is subject to antitrust clearance, is expected to close yet this quarter. The company says stage two, which will also require FCC approval, is expected to close by the end of this year.
RBR observation: This deal would be a breeze to get FCC approval without the crossownership situations, but we understand why Zell wants to keep the company together. The CW network is building nicely and the cash flow from Tribune's big TV stations in New York, LA and Chicago should help counter the difficulties as their newspaper brethren go through the gut-wrenching phase of waiting for Internet ad growth to get to the point of counterbalancing print declines. But there is already pressure in Washington for the FCC to set an expiration date for Tribune's controversial crossownership waivers, since they were predicated on the expectation that the rule was on the verge of being eliminated anyway - something that hasn't happened and doesn't appear likely to happen in the foreseeable future. We see a real possibility that Zell will be turned down flat for new waivers. What then? Would the deal crater or would Tribune Television be put up for sale? One previous bidder who wanted only the TV group reportedly offered four billion bucks for them. One final note. Since Tribune is planning to sell the Chicago Cubs, why is it keeping WGN-AM Chicago, its only remaining radio station? The station's close ties to the baseball team appear to be the only business reason to keep it in the company - and that justification is going away. No doubt there are radio groups who would step up and bid aggressively for the legendary Chicago station.
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 What are the Cubs worth?
If you have a desire to own a Major League Baseball (MLB) franchise, Tribune Company has put the Chicago Cubs up for sale to pay down some of the debt load being taken on to go private. "The Cubs have been an important part of Tribune for more than 25 years and are one of the most storied franchises in all of sports," said Tribune CEO Dennis FitzSimons in announcing the decision to hang out a for sale sign. It is expected that the sale, which requires the approval of the MLB owners, will close after the 2007 season. Included in the sale along with the team will be Tribune's 25% interest in Comcast SportsNet Chicago. According to an annual ranking by Forbes magazine, the Cubs are the 5th most valuable team in baseball. It estimated that the team is worth 448 million bucks. It looks like Tribune Company will turn a profit on the sale. It bought the Cubs in 1981 for 21 million.
ESOP means big change for Tribune employees
Many Tribune Company employees already have a financial stake in the company, holding Tribune stock via their 401(k) plans. Those shares will be cashed out, along with all other Tribune shares, when the company goes private. But going forward employees will have a lot riding on the success or failure of a new Employee Stock Ownership Plan (ESOP) which will be the primary owner of the debt-laden company. In announcing its restructuring, the company sought to assure employees that their existing retirement savings and benefits are safe. For some 37,000 current and retired employees, Tribune says its defined-benefit retirement plan has assets of over 1.7 billion and was overfunded by 200 million as of the end of 2006. The 401(k) plan will continue and two new retirement plans, the ESOP and a "cash balance plan," will be introduced after Tribune Company goes private.
| Read the company explanation |
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Thompson officially in the running
One of two broadcasters being mentioned as potential presidential candidates has made it official. Tommy Thompson admits he is a dark horse, but insists that he is the "reliable conservative" and the only Republican candidate who has helped put together budgets for both a state and the federal government. The former Wisconsin Governor and US Secretary of Health and Human Services is pinning his upset hopes on the Iowa caucuses, next door to his home state. His official campaign kickoff is set for tomorrow at Messmer High School in Milwaukee, which we understand is not actually named for the Executive Editor of this publication. Thompson is a relative newcomer to the broadcasting industry. He is part owner of Armada Media, which has been buying radio stations in small Midwestern markets. No word yet on whether the other broadcaster - strangely enough, also named Thompson - will throw his hat into the ring. Fred Thompson is a former US Senator from Tennessee, former co-star of "Law & Order" on NBC and currently Paul Harvey's fill-in and a commentator for ABC Radio Networks.
 Eddie Hubbard dead at 89
WGN-AM Chicago reports that Chicago radio legend Eddie Hubbard has died from injuries sustained earlier this month in a car crash near Grand Prairie, TX, where he and his wife, Lil, had resided in recent years. She was also injured, but is recovering. Hubbard, who was 89, spent many years on the air at WGN, much of it in morning drive, before going to Dallas to become nationally recognized on the "Stardust" syndicated format for Satellite Music Network and ABC Radio Networks. Hubbard's death was confirmed on his personal website by his family, who said that a private memorial service was held. "In lieu of sending flowers, donate to your favorite charity in Eddie Hubbard's name," they said.
Martin onboard for Vegas
FCC Chairman Kevin Martin will be making an appearance at NAB2007 later this month in Las Vegas. At this point, about all we know is that he will show up on Wednesday, but the exact when and where has yet to be decided. NAB says Martin will address the attendees at a special event on Wednesday, April 18th.
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| Wall Street Media Business Report TM |
Interep tallies down year
Radio and TV rep firm Interep has filed its annual report for 2006 with the SEC. Commission revenue for 2006 decreased 7.7% to 73.9 million bucks, which was blamed on the loss of revenues from Cumulus Media and Radio One terminating their radio representation contracts. Selling expenses increased 14% to 70.1 million, but the company said that was due was, in large part, to severance costs from its voluntary early separation program. All of this took place before new CEO David Kennedy took the helm at Interep in February, so it will be interesting to see how things change this year.
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Ad Business Report TM
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Global Internet advertising to overtake radio a year early
In its global report issued yesterday, ZenithOptimedia Group predicts global Internet ad spend to overtake radio in 2008, a year earlier than forecast in December: "The Internet will grow six times faster than traditional media between 2006 and 2009 and increase its share of the ad market from 5.8% to 8.7%." ZenithOptimedia April Advertising Expenditure Forecasts for the US-specific says the radio marketplace continues to suffer from a bit of a revenue rut as the industry is suffering from a lackluster traditional advertising environment. While audiences remain stable, broadcasters are unable to add inventory or increase rates anytime in the near future. Though some ownership groups are developing their digital platforms, the general migration to digital is still a work in progress that will need some time before seeing a positive cash flow. HD Radio is becoming a reality quickly, but again this platform may take time before stations see an increase in budgets from the sector. Given this, they don't expect the industry to show any outstanding growth in the near future and their radio forecasts all remain unchanged from December. 2007 will experience an increase of 2.0%. Spending will continue to augment in 2008 based on digital platforms with an increase of 2.5%. Resulting from anticipated cyclical changes in the industry, a strengthening economy, and incremental revenue growth from digital platforms, radio will enhance 4.0% in 2009.
 Sporting goods, Atlanta spot markets detailed
Media Monitors took a look at Atlanta the week leading up to the big Final Four NCAA games. And with Major League baseball launching its new season this week, we also took a look at Sporting Goods stores and how they advertised on the radio. Lots of these stores have grown in popularity over the years after starting as small, local, then regional firms. The top dog on the radio last week was Gander Mountain with their 1545 spots. Gander has stores primarily in the Northeast and Midwest from Pittsburgh to Minneapolis but also have a Miami outlet. Number two on the Sports Top 10, is Foot Locker with 1141 commercials. Foot Locker locations are all over the USA. In the three hole, we have Bass pro Shops with 812 spots. 4th largest advertiser on the radio in this group last week was Cabela's with 559 commercials. Dick's Sporting Goods in the 5th position posted 543 spots with Sports Authority in at 6th with 427 units. The NBA Store ran 151 spots in the 7th position. NBA Stores are only located in cities with NBA franchises. The 8th largest advertiser in this group was Game World, out of North Carolina, with only 133 spots, while the PGA Tour Superstore in Dallas was 9th with 119 spots. East Coast Leisure was 10th with 113 spots. East Coast Leisure has one outlet in Norfolk, VA. The headquarters and founding city for Home Depot is Atlanta, so no surprise they are the #1 advertiser on the radio last week with 984 spots. Coming in #2 with 666 commercials was the Shane Company, one of the largest radio advertisers in the market for over thirty years. Lowe's, Home Depot's biggest competitor was #3 with 409 units. AT&T was 4th with 400 spots, while the Cincinnati based food company, Kroger, was #5 with 374 spots. Nissan was #6 with 366 spots and Verizon was #7 with 332 units. Proactiv Solution, a skin care product, ran 319 spots to rank 8th, with AT&T Wireless coming in 9th with 312 commercials. Keeping step with the pollen season is the opening of Six Flags Over Georgia running 297 spots in at #10. Home Depot on the National chart was the #1 radio advertiser in America last week with 30,269 spots.
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| NAB Daytime Planner |
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The following will be attending the NAB.
Call or email to make your
appointment in advance.
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BANKERS
Brian Eick/Dave Meier/John Weller; Gladstone Capital; Bellagio Hotel;
Brian cell 847-612-3002, Dave cell 847-650-1735, John cell 509-496-3254; [email protected], [email protected], [email protected]
BROKERS
Todd Fowler/David Reeder; American Media Services; Bellagio Hotel; 843-972-2200; [email protected], [email protected]
Brian Cobb/ Denis LeClair /Dan Graves/Jack Higgins; Cobb Corp; Bellagio Hotel; 212-812-5020; [email protected]
Andy McClure/Erick Steinberg, The Exline Company, Bellagio Hotel, office 415-479-3484, cell 415-497-3855, [email protected]. [email protected]
Frank Boyle; Frank Boyle & Co.;
Bellagio Hotel; 203-969-2020; cell 203-249-7818; [email protected]
John L. Pierce/ Jamie Rasnick; John Pierce & Company LLC; office 859-647-0101, John cell 859-512-3015; Jamie cell 513-252-1186, Bellagio Hotel; [email protected]; [email protected]
Gordon Rice; Gordon Rice Associates;
843-884-3590; Bellagio Hotel; [email protected]
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Dick Kozacko/George Kimble;
Kozacko Media Services; office 607-733-7138; cell 607-738-1219; Bellagio Hotel; [email protected], [email protected]
Media Services Group; Bellagio Hotel; www.mediaservicesgroup.com
Elliot Evers/Greg Widroe/Brian Pryor/Patricia Carberry-Harris;
Media Venture Partners;
415-391-4877; Bellagio Hotel;
pcarberryharris@
mediaventurepartners.com
Brian Byrnes; Paramount Media
Advisors, Inc.; 312-396-4043;
cell 312-933-7559; Bellagio Hotel; bbyrnes@[email protected]
Glenn Serafin; Serafin Bros., Inc.;
office 813-885-6060; cell 813-494-6875; Aladdin Hotel; [email protected]
Bill Schutz; Schutz & Company; Bellagio Hotel; 757-258-8740, cell 757-880-9251; [email protected]
Larry C. Wood; Wood & Company, Inc.; Alexis Park Hotel; Office: 513-528-7373; Cell: 513-225-5100; [email protected] |
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| Washington Media Business Report TM |
Swift boat donor sunk
We reported awhile back that a potential ambassadorship for Sam Fox may be in trouble. Normally an incident that involves Belgium is not cause for RBR to take an interest, but this time around, the individual indirectly dispatched 50K into broadcast bank accounts. The problem that the money passed through 2004 527 organization Swift Boat Veterans for Truth, which in turn launched a highly controversial advertising campaign attacking Democratic presidential candidate John Kerry (D-MA). Fox also amassed donors to the Bush campaign amounting to at least 200K, but that part of his contribution record was not in contention. The 50K was an issue when Fox had to pass through a Senate Committee in order to have his ambassador appointment confirmed, where he met Kerry face to face. Fox testified that he had no idea what the money was going to be used for when he made the donation. However, it became clear that the Democrats, who now hold a majority in the Senate and the relevant Foreign Relations Committee, were not going to support the nomination, and the White House pulled the nomination.
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| Media Markets & Money TM |
Bulking up in Charleston
Thomas B. Daniels already owns four radio and two TV stations in South Carolina, so it is hardly surprising that he is adding another station to his cluster in Charleston. Broker Art Camiolo reports that Daniels is buying WZJY-AM from Levas Communications. Levas also owns WURD-AM Philadelphia.
Close encounter in Las Vegas
Legacy Communications pulled the lever, and the one-armed bandit registered the message signed, sealed and delivered. The object was KBET-AM Las Vegas, and seller Beasley Broadcasting was the one collecting the payout. According to broker John Pierce, it amounted to 2.5M. Morgan Skinner is the head of Legacy, which has eight other stations in Nevada, California, Utah and Idaho. Legacy says it specializes in "broadcast properties that have significant upside potential when provided proper management, engineering, programming and marketing." The 790 kHz KBET operates with 1 kw days and 300 watts nights out of Winchester NV.
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| Entertainment Media Business Report TM |
 WEEI Boston announces
"Red Sox Wednesdays"
Sports Radio 850 WEEI-AM Boston announced a series of new programs surrounding Boston Red Sox Baseball that will begin Wednesday with the creation of "Red Sox Wednesday." As the home of Wednesday Night Baseball, WEEI will air non stop Red Sox Programming all day long leading up to the game, beginning with Dennis and Callahan. Jerry Remy joins D&C each Wednesday at 9am, Red Sox Manager Terry Francona will join Dale and Holley at 12 noon, and a Red Sox player of the week will be on the Big Show with Glenn Ordway. In addition, Red Sox Ace Curt Schilling and Sox CEO Larry Lucchino will return with regular segments on the Dennis and Callahan show. On all game nights, WEEI's night time program lineup is also getting a makeover. Mike Adams will move up an hour to host the newly created show "Red Sox On Deck" from 6 until game time. "The Daily Planet" follows at 7pm. WEEI's coverage will conclude with Jon Rish and "Red Sox Review," a caller driven show until 1am.
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| Ratings & Research |
Taking a look at iPod usage
The results of a new web poll survey, conducted by Rock radio consultants Jacobs Media, shows that iPod/personal mp3 player growth continues to be impressive. But iPod owners - in particular - want an FM radio in that next Nano or Shuffle. The study was conducted in late February through early March, and consisted of more than 25,000 respondents from over 69 Rock-formatted stations from all over the U.S. "iPods are showing no signs of stopping," according to Fred Jacobs, President of Jacobs Media. "Last year, our data showed that the growth of personal mp3 players was far from over. This year, our new study confirms that this phenomenon continues to have lots of life, and we expect strong growth throughout '07." Since this poll was started in February '05, year-to-year personal mp3 player penetration has steadily increased. From the '06 to '07 studies, ownership is up to 47% of the Rock sample, an impressive jump of 34%. And among Alternative listeners, two-thirds (67%) now own an iPod-like device. The study asked those who still don't own one of these devices if they intend to do so in 2007. Nearly half (45%) of these iPod-less respondents say they are very or somewhat likely to take the plunge. One in ten (12%) has a strong likelihood to buy one sometime during 2007. It should be another great year for Apple and other personal mp3 player manufacturers. The study asked about the most important new feature that consumers desire in their next personal mp3 player. Overwhelmingly, these respondents want an FM tuner (33%). That feature outpaces increased capacity, a larger screen, and video playback in importance. It is noteworthy that Apple owners are especially desirous of being able to receive FM radio in their next iPods. In fact, more than four in ten (43%) make this choice.
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| Engineering Business Report TM |
BE presenting HD EPG demo at NAB2007
Broadcast Electronics (BE) is presenting a demonstration of an electronic program guide (EPG) for HD Radio broadcasting at its booth N7106 during NAB exhibition. Held in cooperation with iBiquity Digital Corp., the concept demonstration will feature program schedules of 20 HD Radio program channels in the greater Las Vegas area between April 16 through 19. What we hope to accomplish with this demonstration is a typical user experience of HD Radio EPG and some of the offshoot features that will come of this technology, said Ray Miklius, BE Vice President Studio Systems. The demo exemplifies BEs IDi 20 Importer and BEs The Radio Experience for broadcasting and managing the advanced capabilities of HD Radio technology. A receiver platform with touch-screen interface will display station names, frequencies and HD channels, and automatically advance through EPG schedules by station or by time. The interactive display lays the foundation for store-and-replay, setting program reminders or opt-in access and other advanced HD Radio features.
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| Sales |
 Emmis/Indianapolis launches NoMoreRemotes.com
Emmis' Indianapolis cluster announced the launch of www.nomoreremotes.com, a site designed to dispel the myths associated with radio station remotes. "The bottom line is if we aren't getting cash register results for advertisers, we are irrelevant," said Mike Cortese, Director of Sales for Emmis Indianapolis. "Instead of providing an advertiser a one-size fits all kit - station vehicle, card table, station t-shirt, on-air personality - nomoreremotes.com demonstrates how we can replace a tired gimmick with a cool, custom, and effective advertiser solution." By example, Cortese said that instead of a remote at a cosmetic retail store, Emmis Indianapolis might create a mini-spa event; instead of a yawn-inducing two-hour remote at a local car dealership involving a station personality, the station might create an on-line event where that same personality and campaign can be exposed to thousands of potential customers as opposed to the mere thirty who might attend the remote. Emmis Indianapolis includes WIBC-AM, WNOU-FM, WYXB-FM, WLHK-FM and Network Indiana.
RBR observation: We've heard Clear Channel is taking remotes out of the equation as well. For many advertisers and stations, remotes are still very effective. But yes, smarter, more efficient ways to help an advertiser are hitting the street, replacing some of the traditional means. It did seem a bit self-deprecating for the nomoreremotes website to mention that "radio station remotes just don't work." Well, if remotes don't work, what does that say for radio? We're assuming some competitive media from the Indianapolis area are going to be adding that link to their sales kits.
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| Transactions |
1M WPLI-FM Levittown PR from Family Educational Association Inc. (Juan Carlos Matos Barreto) to Siemba Fertil Puerto Rico Inc. (Aurio A. Mator Barreto). Cash. Noncommercial station. [File date 3/12/07.]
374,106.26 KEPL-AM Estes Park CO from MK Inc. (Monte Spearman) to WP Broadcasting of Colorado LLC (David Westburg). Debt forgiveness of 374,106.26. [File date 3/12/07.]
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| Stock Talk |
Buyout deals boost stocks
M&A activity, including Sam Zell's Tribune buyout, helped stock prices on Monday, but only a little bit. The Dow Industrials rose 28 points, or 0.2%, to 12,382.
Radio stocks also crept up. The Radio Index rose 0.312, or 0.2%, to 154.778. Emmis, also the subject of renewed buyout speculation, jumped 4.8% as the day's leader. Westwood One had a tough day, falling 5.7%.
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| Radio Stocks |
Here's how stocks fared on Monday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron
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ARB
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47.08
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+0.13
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Hearst-Argyle
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HTV
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27.31
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+0.12
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Beasley
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BBGI
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8.64
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+0.17
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Journal Comm.
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JRN
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13.00
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-0.11
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| CBS CI. B |
CBS |
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30.78
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+0.19
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Lincoln Natl.
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LNC
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67.75
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-0.04
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| CBS CI. A |
CBSa |
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30.77
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+0.16
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Radio One, Cl. A
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ROIA
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6.51
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+0.04
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| Citadel |
CDL |
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9.49 |
-0.02 |
Radio One, Cl. D
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ROIAK
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6.49
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+0.03
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Clear Channel
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CCU
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35.20
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+0.16
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Regent
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RGCI
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3.09
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-0.13
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Cox Radio
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CXR
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13.67
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+0.02
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Saga Commun.
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SGA
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9.80
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+0.07
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Cumulus
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CMLS
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9.32
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-0.06
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Salem Comm.
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SALM
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12.62
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+0.12
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Disney
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DIS
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34.47
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+0.04
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Sirius Sat. Radio
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SIRI
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3.15
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-0.05
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Emmis
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EMMS
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8.85
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+0.41
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Spanish Bcg.
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SBSA
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3.94
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-0.06
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| Entercom |
ETM
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28.11
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-0.07
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SWMX
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SMWX
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0.85
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unch
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Entravision
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EVC
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9.28
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-0.06
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Westwood One
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WON
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6.48
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-0.39
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Fisher
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FSCI
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47.66
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-0.94
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XM Sat. Radio
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XMSR
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12.39
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-0.53
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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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Wall Street Media Business Report
Interep tallies down year
Radio /TV rep firm filed its annual report for '06 revenue decreased 7.7%...
Ad Business Report
Global Internet advertising
To overtake radio a year early...
Media Markets & Money
Close encounter in Las Vegas
Legacy pulled the lever, and the one-armed bandit registered...
Entertainment Media
Business Report
"Red Sox Wednesdays"
WEEI-AM announced a series 'of new programs...
Ratings & Research
Taking a look at iPod usage
Results of a new web poll survey shows iPod/personal mp3 player growth continues to be impressive...
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Stations for Sale
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Ski Country FM
NEast, very profitable w. T site.
8.5x trailing CF. Price 950K
Inquiries 781-848-4201
email: [email protected]
Web: RadioStationsForSale.net
Syracuse, NY
metro FM: $3.25M
Open to purchase, swap plus cash, or LMA. Confidentiality agreement required. No brokers please.
hightowercommunications
@hotmail.com
888-904-0045
10 TX, AZ, NC, and GA
FM radio stations at an exceptional value offered for sale. Broker cooperation encouraged. Please visit www.toweritrust.com for complete information including pricing.
 Market your Stations For Sale
in our daily epapers.
Contact
June Barnes
[email protected]
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Radio Media Moves
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Upped at ABCRN
ABC Radio Networks announced that Martha Luszcz has been promoted to Vice President, Research, reporting directly to ABC Radio Networks President Jim Robinson. Luszcz was formerly the Senior Director of Research for the network, having been promoted several times since she joined ABCRN in 1999. Her career has included working for New Jersey Public Radio, Greater Media, Nassau Broadcasting, Westwood One and Buckley Broadcasting.
Denton to NextMedia
Tony Denton joins the NextMedia management team as a Local Sales Manager for the Jacksonville/Morehead City operational area. Denton was most recently Market Manager for Archway Broadcasting's cluster in Greenville/New Bern/Jacksonville.
Shift at the FCC
Effective this Thursday, Rick Chessen will become Senior Legal Advisor to FCC Commissioner Michael Copps. Chessen is currently Associate Chief of the Media Bureau. This will be a return to the 8th floor for Chessen, since he once served as Senior Legal Advisor to Commissioner Gloria Tristani.
Rice to RCS
RCS announced the hiring of Richard Rice to be its Midwest Regional Sales Manager. Rice will be based out of St. Louis and comes to RCS from his most recent position as Western Region Sales manager for Broadcast Electronics.
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More News Headlines
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ESPN relaunches ESPNRadio.com
Today ESPNRadio.com has relaunched with a re-designed and enhanced site highlighted by a new "ESPN Super-stream Player" that delivers live 24/7 streaming of ESPN Radio's national programming and all five of ESPN's owned stations (New York City -AM 1050 WEPN; Chicago - AM 1000 WMVP; Los Angeles - AM 710 KSPN; Dallas - FM 103.3 KESN; and Pittsburgh - AM 1250 WEAE). More sites will be added in the future. At launch, the ESPNRadio.com Super-Stream player will feature 15 national programs as well as 40 local-market ESPN Radio programs, delivering more than 100 hours of programming each day. The new site features exclusive, live in-studio video of The Herd with Colin Cowherd at launch, with live video of Mike & Mike in the Morning to follow later this month. The cameras will allow fans, for the first time, to choose between listening or watching the programs live, and mark the first step in bringing exclusive online, in-studio video for all ESPN radio programs in the future. ESPNRadio.com also integrates the recently launched a network of local ESPN-affiliate station Web sites and local podcasts. The local sites feature local and national sports news, scores and headlines, city-specific interactive sports schedules and calendars, local weather conditions and more. Local ESPN Radio podcasts include Pittsburgh's Mark Madden Show, New York's Michael Kay Show, and Los Angeles' The Big Show with Mason and Ireland and more. The network initially includes the sites for ESPN's five owned stations. In addition, programming from ESPN's owned stations will include local high school sports coverage.
SCBA launches "Radio Means Business" campaign
Southern Californians who listen to radio every day will begin hearing a new series of commercials starting this week promoting radio. Created by The Southern California Broadcasters Association and aimed at the business community, the series reminds both consumers and business leaders that radio is still one of the most effective advertising mediums available. And that used effectively, it has the unique ability to make their product as much a part of peoples lives as the medium itself. A Spanish language campaign is still being developed.
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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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Mel's blue smoke and mirrors
In addition to all of his obvious talents, Mel Karmazin now proves his skills as a Master Illusionist. I have known the "Zen Master" since the mid-70's when I was working Morning Drive at the original Disco 92 WKTU (NYC) and Mel was at MetroMedia's WNEW-AM. Mel's brilliance as a businessman always stemmed from his realization that he has absolutely no knowledge of or concern with what constitutes great "programming content." Recall that he! once remarked very publicly that programming was just "arts and crafts" from his perspective. For Mel, it always was all about "hitting the number" More Executive Comment in this report page of RBR.
04/02/07 RBR #64
What's next for Clear Channel?
The vote "no" recommendation from Institutional Shareholder Services (ISS) has made it unlikely that the pending private equity buyout of Clear Channel will get the required two-thirds approval by shareholders (3/30/07 RBR #63). With a core group of stockholders controlling 20-25% of the votes already publicly opposed to the deal as it stands, following the ISS thumbs down call Bank of America Securities analyst Jonathan Jacoby told clients he sees two possible outcomes, see RBR'
04/02/07 RBR #64
Jeff to bid again?
Emmis Communications stock rose sharply Friday after Goldman Sachs analyst Mark Wienkes upgraded it to "buy" and suggested that another going-private bid from CEO Jeff Smulyan could be on the horizon. Is it just a coincidence, or has Wienkes discovered a pattern?
RBR observation: What assets might Emmis sell to make it easier for Smulyan to do a buyout without tapping outside private equity cash? Only WVUE-TV (Ch. 8, Fox) New Orleans remains to be sold from the former Emmis TV group and its sale is already assumed in the Goldman Sachs analysis. The radio assets which clearly are not part of the core business for Emmis are WTHI-FM & WWVR-FM in its smallest market, Terre Haute, IN, but they are also the least valuable of the radio assets. The other radio markets are New York, LA, Chicago, Indianapolis (home base), Austin, St. Louis, Hungary, Belgium, Bulgaria and Slovakia.
04/02/07 RBR #64
Expert testimony:
No XM/Sirius merger
"Regardless of the definition, a satellite radio merger still has an antitrust component that must be thoroughly examined by the Department of Justice and the Federal Communications Commission," said J. Gregory Sidak. "No matter how you slice it, dice it or package it, the merger of XM and Sirius would establish a monopoly, which are typically characterized by a lack of economic competition for the good or service that they provide, as well as a lack of viable substitute goods." Sidak works for Criterion Economics, but he used to be Deputy General Counsel for the FCC, and he produced his analysis at the request of Consumer Coalition for Competition in Satellite Radio (C3SR), and for the benefit of his former Commission employers. More on Sidak's examination in this RBR report.
03/30/07 RBR #63
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