|
|
|
|
|
Volume 24, Issue 67, Jim Carnegie, Editor & Publisher
|
Thursday Morning April 5th, 2007
|
|
|
Radio News ®
|
 Investor pressuring Regent
Regent Communications is the latest radio company to come under pressure from an investor who wants to cash out. Riley Investment Management is calling for the company to hang out a for sale sign. The investment company is not shy about going public with its efforts to pressure the management of publicly traded companies. It recently fought the acquisition of Mesaba Airlines by Northwest Airlines, claiming the valuation was "grossly inadequate." As it stands now, though, the airline deal has been approved by a federal bankruptcy judge and is set to go to closing. As for Regent, Riley said in a letter to CEO Bill Stakelin and the board of directors yesterday that the radio group would be worth 50-100% more than its current stock price if it were sold to a financial buyer or, on the high end, a strategic buyer (a bigger radio group). According to an SEC filing, which included its letter, Riley owns 2,525,018 shares of Regent, or 6.5% of the radio company's outstanding shares. There was no immediate response from Regent.
| Read the letter |
RBR observation: Riley can hardly be called a patient or long-suffering shareholder as far as Regent is concerned. Over two million of the shares it holds were bought in March 2007, including 1,189,344 bought March 28th for 2.95 per share. Forcing a sale for its estimated 4.50-6.00 per share would give Riley a hefty return on a short-term investment. Riley is certainly right about one thing, though, Sarbanes-Oxley compliance has made it prohibitively expensive for small companies like Regent to maintain publicly traded stock. There has been a lot of talk on Capitol Hill about providing some relief, but so far it has only been talk.
|
|
|
 Citadel fined 21K; License revocation petitions dismissed
The FCC has at long last issued its full opinion and order from the meeting last month where the Commissioners approved the merger of Disney's ABC Radio with Citadel Broadcasting (3/23/07 RBR #58). We knew that Red Wolf Broadcasting did not succeed in its efforts to have the FCC deny license renewals for Citadel in Connecticut and Rhode Island and hold hearings on whether the company is fit to hold any license at all. Indeed, the FCC dismissed most of Red Wolf's allegations of rule violations as unsubstantiated or insignificant. "We also find that Red Wolf has not raised a substantial and material question of fact whether Citadel Broadcasting possesses the basis [sic] character qualifications to hold its licenses that requires designation of the renewal applications for hearing," the order states. A second petition to deny from three listeners in Birmingham, NY, who had made their filing after the deadline and primarily objected to Citadel being operated as a for profit company to benefit distant shareholders, was likewise rejected. In the end, Citadel was fined 21,000 - 10,000 for a public file violation reported by Red Wolf and the rest for public file violations that Citadel itself reported (10K for WWWZ-FM Summerville, SC and 1K for WLXC-FM Lexington, SC).
RBR observation: What about the Eliot Spitzer "payola" allegations and additional allegations of sponsorship identification violations brought by Red Wolf? The FCC order states that Citadel entered into a consent decree with the Commission last month, under which it agreed to make a voluntary contribution to the US Treasury and adopt certain company policies and reforms. That public document has not yet been made public by the FCC or Citadel.
|
|
|
Peabody winners announced for 2006 broadcasts
WBEZ-FM Chicago, Arizona Public Radio, National Public Radio and Public Radio International were among the winners announced yesterday for the 66th Annual Peabody Awards. On the television side, four local news operations were honored alongside the national operations: WISH-TV Indianapolis, WTHR-TV Indianapolis, WTNH-TV New Haven, CT and KMOV-TV St. Louis. The awards for the best in electronic journalism in 2006 will be presented June 4th at a luncheon at the Waldorf-Astoria Hotel in New York City. Sportscaster Bob Costas, host of HBO's "Costas Now," will be the master of ceremonies.
| Here are the winners |
FCC set to hand out noncom CPs
 A long-delayed FCC awarding of construction permits for new noncommercial FM allocations has been given a filing window of October 2007. The new window is associated with the Commission's previous selection of tentative CP awards from 76 groups of cut-off and mutually exclusive new station applications and major modification proposals. Additionally, another 180 new applications or major modifications are pending for which there has been no opportunity for competing applicants to file. All of these are in the reserved noncommercial portion of the FM band. The whole shebang is now being packaged together for this filing window in October.
Iran jumps in news buzz
The seizure of 15 British sailors by Iran placed a new story atop the weekly list of top US news stories, as measured by the Project for Excellence in Journalism. It was the hottest topic for four of the five types of media tracked, with the exception being newspapers. The online news world in the US has a much more international outlook than other media, listing two stories in the top 10 - the turmoil in Zimbabwe and the freeing of children held hostage in the Philippines - that got scant attention from traditional news outlets. Here is the weekly breakdown by media.
| View the Chart |
Cumulus Media shake up and out
At RBR deadline very late last night rumors hit the internet of the departure of three top executives at Atlanta based Cumulus Media: Exec. VP/COO Jon Pinch, Exec VP John Dickey and Sr. VP Andy Rosen departing. RBR called Cumulus HQ looking for Chairman/Pres./CEO Lew Dickey to seeking confirmation but nobody was home as offices were closed. Emails also sent with no reply. RBR will seek confirmation and complete details.
|
|
|
|
|
Ad Business Report TM
|
Chicago Sun-Times launches campaign via radio, outdoor
The Chicago Sun-Times unveiled major new editorial enhancements and an upgraded design for the newspaper including more color, more graphics, a new digital version of the paper and a free downloadable afternoon edition. At the same time, a new ad campaign, "Let's Get Into It," has been launched on major Chicago radio stations, billboards, taxi roofs and public transportation to promote the enhanced Chicago Sun-Times. The "Let's Get Into It" theme expertly describes how this paper isn't afraid to tackle the tough issues -- and also how much it is all about real Chicago and its people. The campaign was developed by Two by Four advertising and is one of the Sun-Times' largest marketing initiatives in recent memory. As part of the company's increased online presence, the paper also is launching "Sun-Times e-paper" -- a digital replica of the print product available every morning and free to print subscribers. The digital version allows readers to search by keyword, columnist, section and content. The Sun-Times has been working closely with advertisers on the enhanced products. "The Sun-Times enhancements and upgrades will dramatically improve our ability to provide custom, integrated multi-media marketing solutions to our loyal advertisers," said John Martin, VP/Advertising for Sun-Times News Group.
|
|
|
|
| NAB Daytime Planner |
 |
The following will be attending the NAB.
Call or email to make your
appointment in advance.
|
|
BANKERS
Peter H. Ottmer; Dover Capital Partners, LLC; office 401/723-1063 x103;
cell 401/639-4958; Bellagio Hotel; [email protected]
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]
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] |
|
|
|
|
| Washington Media Business Report TM |
FCC doubles down on Tyler AM
On appeal, Community Broadcast Group, licensee of has been ordered to fork over 11k, exactly the amount of a fine the FCC hit it with for a pair of violations. First, a fine for missing Issues/Program lists in its public file stands. The station claimed that if the regular office staff happened to be on hand at the time of the inspection, they would have been able to produce the lists, but the FCC countered that it should have been produced anyway, and that no attempt of any kind has been made since to prove their existence. The second violation would seem to be the more serious of the two - the station is licensed for a two-tower directional configuration, but had been using just one of the towers for over a year. The station claimed it was less than a year and that it had plans to get back to a two-tower broadcast, thus supporting the "...finding that it willfully operated its station in a manner inconsistent with its station authorization for more than a day," which is all the FCC needed to assess liability. The station finally pleaded that paying the fine would be a hardship, but failed to back that up with any documentation. The fines stand.
|
|
|
|
| Media Markets & Money TM |
New group launches with 11 CCU markets
Veteran Dallas broadcaster George Laughlin is launching a new group, GAP Broadcasting LLC, having snared 11 markets from the Clear Channel auction of many of its smaller markets. The brokers at Kalil & Co. say Laughlin is buying nine CCU clusters in Texas - Abilene, Amarillo, Lubbock, Lufkin, Midland-Odessa, Texarkana, Tyler, Victoria and Wichita Falls - along with Shreveport, LA and Lawton, OK.
Washington State AM sold
Broker Todd Fowler of American Media Services reports that Robert Uteda's Anacortes Broadcasting has cut a deal to buy KLKI-AM Anacortes, WA for 760K. The seller is Berry Entertainment, headed by William Berry.
Close encounter in Dyersburg
Educational Media Foundation has grabbed the keys to yet another FM radion station. The noncommercial Contemporary Christian broadcasting outfit has closed on its acquisition of 90.7 MHz WKNQ-FM from the Mid-South Public Communications Foundation. According to Greg Guy and Summer Foust of Patrick brokerage Communications, the price was 825K. The station is licensed to Dyersburg TN, part of the Jackson TN Arbitron market.
|
|
|
|
| Internet Media Business Report TM |
DoubleClick unveils online ad marketplace
DoubleClick, a major provider of digital advertising technology and services, unveiled its proprietary DoubleClick Advertising Exchange service, an online marketplace that connects buyers and sellers of online display advertising. The service provides advertisers, agencies, publishers and ad networks with a dynamic marketplace where they can buy and sell online display advertising - impression by impression. Using the new platform, publishers and other sellers make specific inventory available for purchase. Sellers define a minimum bid value - or "reserve price" - for the inventory and specify rules to restrict certain advertisers, formats and content. In parallel, buyers specify the inventory they wish to purchase, and the associated bid value for that inventory. They can also specify a rule to dynamically control the bid so that the bid price is automatically adjusted in line with inventory performance. The service has the ability to dynamically optimize price for publisher inventory between traditional sales channels and ads sold through the exchange. DoubleClick simplifies the invoicing and payment process for sellers by reconciling all transactions and making payments to the seller, regardless of the number of trading partners. "The marketplace concept is gaining traction among buyers and sellers," said David Rosenblatt, CEO of DoubleClick. "The fundamental value proposition for customers is that we are the only company that combines the management of premium and non-premium inventory into one, fully integrated platform that delivers maximum yield across sales channels." The service is currently in limited testing with a select group of buyers and sellers in the United States. The marketplace is expected to go "live" in the third quarter and will be available globally by the end of 2007.
 "Wi-FiTV Is Free" campaign launches on MySpace
Wi-FiTV, creator of the Social Internet TV web site www.Wi-FiTV.com, is launching its first ad campaign. As part of the promotional effort to bring an increase in the number of Wi-Fi TV users, Wi-Fi TV has entered into a six-month, six-figure advertising contract with MySpace. "We have selected MySpace, the leading social networking site, with more than 90 million unique users, as the ideal location to introduce Wi-Fi TV ads. We can think of no better place to embark on a major advertising campaign that touts Wi-Fi TV's free video parties, free calls, free program specific chat, 450 free live TV stations, and free personal TV channels," said Alex Kanakaris, Chairman and Founder of Wi-Fi TV. The Wi-Fi TV advertising campaign on MySpace will run from today to October 31, 2007. It will include ads on MySpace user profiles, MySpace groups and forums (including Entertainment, Film and TV), MySpace IM, Music, and Videos as well as Premium runs of the site. The campaign will result in over 69 million impressions.
|
|
|
|
| Ratings & Research |
Arbitron adds three markets
Three more US radio markets are set to be measured by Arbitron. The ratings company says the trio will be added for the Spring 2007 Radio Ratings Survey, which begins today. The newbies are Twin Falls (Sun Valley), ID, market rank #235 with a 12+ population of 142,700; Hot Springs, AR, #290, pop. 82,600; and Aspen, CO, #300, pop. 55,800. All three will be measured twice annually.
Latest on "Streamies"
 Bridge Ratings has released an updated study of U.S. Streamies, those individuals ages 12 and over who spend time on the Internet listening and/or viewing streaming content. The last study we conducted in 2003 reflected early-stage behavior of this highly-sought after on-line population which now totals 47% of the U.S. population who have ever streamed audio or video. 84% of Americans now have Internet access - up 25% from 2003. Other facts from this week's release:
* 33% of Adults 35-44 have ever streamed compared to 20% of teens.
* 46% of Americans have ever streamed video or audio - up from 38% in 2003. MySpace and YouTube are responsible for a significant portion of this increase.
* Men out-stream women in this latest study. In 2003 the balance was closer to 50/50.
* Streamies not only discover more new music on the Internet than their counterparts, but they tend to purchase this newly discovered music.
* Streamies spend 30 minutes more per day listening to on-line audio than they were a year ago.
|
|
|
|
| Transactions |
3.4M WEKS-FM Zebulon GA from Spalding Broadcasting Inc. (Stephen D. Tarkenton) to Legacy Media - South Atlanta LLC (Michael D. Easterly, Martin W. Moore, Carol Cordray, Joseph Pedicino). 170K escrow, balance in cash at closing. [File date 3/14/07.]
600K WYYZ-AM Jasper GA from Hellinger Broadcasting Inc. (Mark Hellinger) to Enlightenment LLC (Gertrude Maxwell). 30K escrow, balance in cash at closing. Includes option to acquire WABV-AM Abbeville SC. [File date 3/14/07.]
|
|
|
|
| Stock Talk |
Stocks end barely higher
With nothing much in the way of news to get traders excited, the stock market moved up a bit Wednesday on the previous day's momentum. The Dow Industrials gained 20 points, or 0.2%, to 12,530.
Radio stocks were mixed. The Radio Index declined 0.871, or 0.6%, to 156.110. Regent, a penny stock, jumped 2.6% as a big shareholder called for it to be put up for sale. The day's worst performer was Salem, down 7% with no news to account for it.
|
|
|
|
| Radio Stocks |
Here's how stocks fared on Wednesday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
|
Arbitron
|
ARB
|
|
47.72
|
-0.39
|
Hearst-Argyle
|
HTV
|
|
27.43
|
+0.01
|
|
Beasley
|
BBGI
|
|
8.80
|
-0.10
|
Journal Comm.
|
JRN
|
|
12.97
|
+0.01
|
| CBS CI. B |
CBS |
 |
31.24
|
+0.14
|
Lincoln Natl.
|
LNC
|
|
67.56
|
-0.49
|
| CBS CI. A |
CBSa |
|
31.22
|
+0.11
|
Radio One, Cl. A
|
ROIA
|
|
6.53
|
+0.05
|
| Citadel |
CDL |
|
9.57 |
-0.03 |
Radio One, Cl. D
|
ROIAK
|
|
6.50
|
+0.06
|
|
Clear Channel
|
CCU
|
|
35.53
|
-0.01
|
Regent
|
RGCI
|
|
3.19
|
+0.08
|
|
Cox Radio
|
CXR
|
|
13.75
|
unch
|
Saga Commun.
|
SGA
|
|
10.01
|
+0.04
|
|
Cumulus
|
CMLS
|
|
9.45
|
-0.04
|
Salem Comm.
|
SALM
|
|
11.80
|
-0.89
|
|
Disney
|
DIS
|
|
34.64
|
-0.28
|
Sirius Sat. Radio
|
SIRI
|
|
3.09
|
unch
|
|
Emmis
|
EMMS
|
|
8.89
|
-0.05
|
Spanish Bcg.
|
SBSA
|
|
3.84
|
-0.12
|
| Entercom |
ETM
|
|
27.78
|
-0.38
|
SWMX
|
SMWX
|
|
0.85
|
unch
|
|
Entravision
|
EVC
|
|
9.85
|
+0.18
|
Westwood One
|
WON
|
|
6.67
|
+0.09
|
|
Fisher
|
FSCI
|
|
48.64
|
-0.64
|
XM Sat. Radio
|
XMSR
|
|
12.31
|
+0.17
|
|
|
|
|
|
|
Bounceback
|
 We want to
hear from you.
This is your column, so send your comments and
a photo to [email protected]
|
|
|
Below the Fold
|
|
Ad Business Report
Chicago Sun-Times launches
Campaign via radio, outdoor called "Let's Get Into It,"...
Media Markets & Money
New group launched
GAP Broadcasting LLC, with 11 Clear Channel markets...
Internet Media Business Report
DoubleClick online ad marketplace
Advertising Exchange service,online Market-place that connects buyers & sellers...
Ratings & Research
Arbitron adds three markets
For the Spring 2007 Radio Ratings Survey
The newbies are...
|
|
|
Stations for Sale
|
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
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
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]
|
|
|
Radio Media Moves
|
Upped at ABCRN
ABC Radio Networks has promoted Michael Knize to Vice President, Western Sales. This expands Knize's leadership role to include a 16-state region from the Southwest to the West Coast, adding management of ABC Radio Networks' Los Angeles and San Francisco sales offices to his responsibilities.
Fox in Raleigh
Capitol Broadcasting Company announced that Barry Fox has been named Program Director of MIX 101.5 WRAL-FM and 99.9 Genuine Country, WCMC-FM Raleigh, NC. Fox was most recently Operations Manager for Clear Channel's seven-station cluster in Lexington, KY.
|
|
|
More News Headlines
|
Dan Clarke dead at 51
The Fresno Bee reports that Dan Clarke has died suddenly from an aortic aneurysm, just four days after celebrating his 51st birthday. According to the report, Clarke worked for at least 14 different radio stations in the area through the course of his career.
|
|
|
RBR Radar 2007
|
|
Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
|
RBR observation: Do the math
It never ceases to amaze us at RBR how so many different figures are reported by various media outlets when a big M&A deal is announced. Numerous journalists have read that announcement and still reported that Tribune is being sold for 8.2 billion. Why? Are billions too hard to fathom? Then let us try a simple example. This is Not Brain Surgery for those journalists that just do not understand. RBR shows the simple math 101.
04/04/07 RBR #66
Report blasts Sirius-XM merger
Analysis by The Carmel Group helped convince the FCC to turn thumbs down on a merger of the two satellite TV companies just a few years back, so it is hardly surprising that NAB hired the firm to analyze the proposed satellite radio merger. Sure enough, the report now out says an XM-Sirius merger would result in "less service, less affordability, less diversity and less choice in content and hardware" - exactly the opposite of what Sirius CEO Mel Karmazin has said on Capitol Hill to try to win approval of the deal. There is more view the rest of the issue and the special full Report in RBR
04/04/07 RBR #66
Radio stocks in line
with blah quarter
While their television brethren saw stock prices rise in Q1 as new revenues began to flow in from cable retransmission consent payments, radio had no similar event to excite Wall Street traders. Yes, non-spot revenues are growing well, but Internet revenues are growing for all types of media companies, and the bread-and-butter spot business is still sluggish. So, radio stocks were right in line with a lackluster quarter for the overall stock market. View the stats see where you favorite media company stock is and tracked here in RBR
04/04/07 RBR #66
|
|
|
|
 |
New listing
Web Content Director
RBR/TVBR is looking for an aggressive and progressive Media Website Director. Will be working side by side with all aspects of our editorial, sales, marketing and production staff. RBR/TVBR is moving forward with a Pro-Active Strategy see what is required as we begin our 25th year in the media business. See Radio Careers
Hard finding that key person
to fill the important position at your organization? Media HeadHunters is the place that key media firms use to get results. See Media HeadHunters and get results with service--Period.
Need assistance
contact Cathy Carnegie
|
 |
|
|
|
|
Help Desk
|
__EMAIL__ :
Having problems with our epapers?
Please send Questions/Concerns to:
[email protected]
If you wish to remove your name completely from our database use this link __UNSUB__
RBR Epaper -- 108 annual
or just 9 a month
|
|
|
|
©2007 Radio Business Report, Inc. All rights reserved.
Radio Business Report -- 2050 Old Bridge Road, Suite B-01, Lake Ridge, VA 22192 -- Phone: 703-492-8191
|
|
