Share Ideas Working Now with RBR, MBR and SMARTMEDIA, a partnership in radio today.
Ideas Working Now Membership
Welcome to RBR's Daily Epaper
Volume 24, Issue 68, Jim Carnegie, Editor & Publisher
Friday Morning April 6th, 2007

Radio News ®

Analyst ups radio forecast
It would be overstating the case to call him bullish on radio, but BMO Capital Markets analyst Lee Westerfield has raised his 2007 estimate for radio industry revenues by three percentage points - to plus 1.5% from his previous minus 1.5%. "In a shift in our view, we no longer consider the radio sector at risk for a significant decline in advertising during 2007. consequently, we see same-station EBITDA growth equivalently positive, +1-3% for most radio groups," he said in a research report, noting that he had previously forecast that EBITDA would be down 4% for pure play radio groups this year. Westerfield still has an "underperform" label on the radio sector. His current stock recommendations in radio are Cumulus and Salem. Westerfield's monthly Radio Airtime Monitor report found that commercial ad time in the top 10 markets was down a slightly 0.4% from a year ago. He said that steadiness was consistent with the recent indications of a "warming trend" in radio advertising, with pricing improving over five consecutive months.

Worries about waivers
We are finally starting to see other reports echoing what we said on Tuesday (4/3/07 RBR #65) - that Tribune Company and Sam Zell are going to face an uphill battle in Washington trying to win new FCC crossownership waivers to keep Tribune's broadcast/newspaper combinations together as the company goes private. The flagship Chicago Tribune noted in a story yesterday that absent those waivers, Tribune could have to sell some of its broadcast or newspaper properties, which Zell has said he doesn't want to do. "We will apply for temporary waivers and we would hope the Commission will recognize the realities of today's marketplace and give us temporary waivers," Tribune CEO Dennis FitzSimons (pictured) said in an interview with a reporter from his company's flagship. The newspaper said one FCC member, Democrat Jonathan Adelstein, sent it an email that "any new owner must comply with the rule on the books that prohibits cross-ownership of newspapers and broadcast outlets." Not only does Tribune Company need new waivers for the TV/newspaper combinations that it created in recent years, winning temporary waivers in anticipation of the quick demise of the crossownership rule, but it will also need new waivers to keep together the Chicago Tribune, WGN-AM and WGN-TV - a combination that predated the rule and had been grandfathered so long as Tribune didn't change owners. With no likelihood now of the crossownership rule going away soon, each and every one of those waivers will be hard to sell in DC. The best quote from the Tribune article came from Media Action Project President Andy Schwartzman, who said that Tribune executives "really are doubling down on the same bet they already made and lost."

RBR observation: We see a very real possibility that Zell and Tribune will be able to complete phase one of the pending deal, which doesn't require FCC approval since less than 50% ownership will change hands, but fail in winning the required waivers to be able to complete the cash-out of public shareholders. We asked what would happen in that case and were told there is no unwind agreement. "If phase two does not move forward, we have returned significant cash to our public shareholders, established an ESOP, brought Sam Zell onto the board and remain a public company," said Tribune spokesman Gary Weitman in response to our question.


Laughlin still on the hunt
Even after striking a deal to buy 52 stations in 11 markets from Clear Channel (4/5/07 RBR #67), George Laughlin tells RBR that his new GAP Broadcasting LLC is still hunting. "We'll continue to look for opportunities in the region," he said, with region defined as anything that's a convenient air flight from HQ in Dallas. "We're excited about the growth of small and medium markets," Laughlin said of his new company. Look for GAP to LMA those 11 CCU markets once the deal clears Hart-Scott-Rodino antitrust review, which means that the price tag is at least 100 million. We'll learn the exact number and who GAP's financial backer(s) is when the paperwork is filed with the FCC in a few days. Oh, and yes, we asked about the name. It is the initials of Laughlin's children.

How'd the other guys do?
We reported in Wednesday's RBR on the lackluster performance of radio stocks in Q1, which paralleled the overall stock market. The quarter was better for your television brethren, pure play TV companies in particular, as investors saw proof that new revenues are coming by way of cash payments for retransmission consent agreements with cable MSOs. Nexstar, which initially led the retrans fight, battled out of penny stock territory and finished Q1 up nearly 107%. Sinclair, which won the most recent high-profile retrans battles, gained over 47%. Also big gainers in Q1 were other pure plays such as LIN (which also made a big sale to de-lever), Young and Gray. The biggest gainer of all, though a penny stock, was Ion Media, up 166% after receiving a buyout bid from NBC Universal and Citadel LP. Of the 35 TV stocks tracked daily by our sister publication TVBR, 23 were up in Q1 and 12 were down.
| Here are the numbers |

Cumulus clarified
CEO Lew Dickey called to set us straight on the management changes at Cumulus Media. Only Sr. VP Andy Rosen has left the company. He had joined Cumulus a little over a year ago (3/8/06 RBR #47) after serving as Clear Channel Market Manager in NYC. Under the new organizational structure at Cumulus, John Dickey has been promoted to Co-COO, alongside Jon Pinch. They will each oversee approximately half of the company's markets including the eight CMP markets which were acquired last May. "This move recognizes and clarifies an organizational dynamic that has been in place for some time and will enable us to marshal our management resources in a more timely and effective manner," said Lew.


Ad Business Report TM

Women managing ad sales at 30% of US radio stations
The Mentoring and Inspiring Women in Radio group (MIWs) released its annual General Sales Manager Gender Analysis Summary showing that in 2006 women headed radio advertising sales departments at just 30.1% of the more than 10,000 US radio stations. This compares to 29.5% in 2003. The study shows that women are more than twice as likely to be GSMs (30.1% of all stations) than General Managers (15.3%) or Program Directors (10.6%). These ratios haven't changed over the last four years. The study, based on info as of 11/06, shows that women have slightly more opportunities as sales managers in groups that own 12 or more stations, where they hold 33.1% of all GSM positions, compared to 31.5% in 2002. Clear Channel, with 1173 stations, exceeds the average with 34.4% female GSMs, down from its high in 2004 of 38.9%. The five next largest groups (948 total stations) average 34.2% women GSMs. Of these CBS has the highest ratio (39.7%) and Salem the lowest (19.6%). The 55 groups owning between 12 and 19 stations (791 total stations) has the lowest overall average at 27.2%. 33 groups with 20-29 stations (770 stations) average 34.5% women GSMs. Groups in this cluster run the gamut from no women GSMs at Mid-West Family Stations and Eagle Radio, to 40% or more at Greater Media, Commonwealth Broadcasting and Mapleton Communications, to over 75% female GSMs at Spanish Broadcasting and Maverick Media.

The 17 groups with 30-49 stations (642 stations) average a healthy 35% women GSMs. Qantum Communications, Forever Broadcasting and Triad Broadcasting all list 50% or more; Beasley Broadcast Group, Journal Broadcast, Double O Radio, and Backyard Broadcasting all list 25% or less. The nine groups owning 50-99 stations (628 total) average 33.2%. Cox Radio has the highest ratio (41.1%), NRG Media the lowest (12.5%). 27 of the 120 groups owning 12 or more radio stations have 50% or more female sales managers. They include: Midwest Communications, Triad Broadcasting, Forever Broadcasting, Qantum Communications, Border Media Partners, and Spanish Broadcasting. Fifteen groups with a total of 232 stations list no women sales managers.They include: Eagle Rock, Lincoln Financial, Millennium Radio Group, Schurz Communications, Simmons Media, Wilkins Communications, Gold Coast Broadcasting, Mid-West Family Stations, Red Rock Radio, Route 81 Radio.

Sprint Nextel names Goodby, Silverstein & Partners AOR
Sprint Nextel announced that it has selected San Francisco-based Goodby, Silverstein & Partners as its new AOR, after a review that included TBWA/Chiat/Day and Publicis & Hal Riney. "This has been an intense and thorough process these past few months. We have met with some of the nation's best agencies as we seek to regain our competitive momentum in the marketplace and we are confident we've found the right partner in Goodby, Silverstein & Partners," said Mark Schweitzer, Sprint Nextel's chief marketing officer. "Goodby's sterling reputation and creative talents are second to none and together we will deliver a more integrated and strategic brand execution." Goodby will manage brand strategy and creative for both the Sprint and Nextel brands and the transition process will begin immediately.


NAB Daytime Planner
The following will be attending the NAB.
Call or email to make your
appointment in advance.

BANKERS
Jacob J. Barker; Barker Capital www.barkercap.com Bellagio Hotel
(212) 332-4312 [email protected]

Peter H. Ottmar; 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]

CONSULTING ENGINEERS
Gary Cavell, Richard Mertz, Michael Rhodes, Dan Ryson; Cavell, Mertz & Associates, Inc.; Main Office 703-392-9090; [email protected]

Washington Media Business Report TM
Bush out-Fox-es Congressional Democrats
Since he doesn't have to run for re-election, President George W. Bush doesn't really have to worry too much about feedback from aggressive use of the powers of the presidency. A few days after withdrawing his nomination of Swift Boat Veterans for Truth donor Sam Fox to be ambassador to Belgium (4/3/07 RBR #65), Bush let Congress leave town for its spring break and then he gave Fox a recess appointment that allowed him to bypass the Senate confirmation process. The maneuver will allow Fox to hold the post in Brussels until the next Congress is seated, the same month that Bush's successor is sworn in. Fox was attacked by Democrats for contributing 50K to the group whose 2004 TV ads attacked Sen. John Kerry's (D-MA) military record. The ads, denounced as attack ads, played a role in Kerry's narrow loss to Bush.


Media Markets & Money TM
Three more CCU markets sold
This time the buyer is Rolland Johnson's Three Eagles group. The brokers at Kalil & Co. say to put him down for Mason City and Ft. Dodge in Iowa, along with Mankato, Minnesota. That's a dozen stations in all. It's the second time Three Eagles has picked up stations in this auction. It previously bought the CCU stations in Lincoln, NE back when the sell-off was just beginning (12/15/06 RBR #243).

Closing in the Tallgrass
Tallgrass Broadcasting has closed on its 1.25 million purchase of a five-station cluster serving the Clovis, NM area (2/7/07 RBR # 26), according to the brokers at Media Services Group who brokered the deal. The seller was Tom Crane's Broadcast Entertainment Corporation. Tallgrass is owned by national TV reporter/personality Bill Kurtis and former Arbitron Sr. Consultant Joe Walker.


Entertainment Media Business Report TM
Savage Nation goes live In L.A.
Talk Radio Network's Michael Savage joins the new AM 830 KLAA, Los Angeles with his nationally syndicated program The Savage Nation. "Broadcasting at 50,000 watts AM 830 KLAA boasts the 4th largest radio signal in California, providing Talk & Sports programming to listeners throughout the greater Southern California area. AM 830 can be heard in Los Angeles, Orange, Riverside, San Bernardino, Ventura and San Diego counties," says AM 830 General Manager Allen Fuller.


Internet Media Business Report TM
Kaspersky Lab discovers
the first virus for iPod

Kaspersky Lab has discovered the first virus designed to infect iPod portable media players. The virus, which has been named Podloso, is a proof of concept program which does not pose a real threat. The virus is a file which can be launched and run on an iPod. It should be stressed that in order for the virus to function, Linux has to be installed on the iPod. If the virus is installed to the iPod by the user, the virus then installs itself to the folder which contains program demo versions. Podloso cannot be launched automatically without user involvement. Once launched, the virus scans the device's hard disk and infects all executable .elf format files. Any attempt to launch these files will cause the virus to display a message on the screen which says "You are infected with Oslo the first iPodLinux Virus". Podloso is a typical proof of concept virus. Such viruses are created in order to demonstrate that it is possible to infect a specific platform. They do not have a malicious payload. Additionally, Podloso is unable to spread. The user has to save the virus to the iPod memory for the device to become infected.


Ratings & Research
AMS introduces radio index
Despite emerging technologies that compete with radio as well as provide new platforms for listening to the radio, a new American Media Services Radio Index indicates that most Americans continue to listen to radio the old-fashioned way: on the radio. But they also indicate they will not be reluctant to accept new ways to listen to their favorite radio stations in the future. The national poll, conducted for AMS by Omnitel, the weekly omnibus survey of GfK NOP of Princeton, N.J., shows that listening to the radio remains relevant and prevalent. Almost two-thirds (64%) say they listen to the radio daily. More than two-thirds (69%) are listening to the radio more or about the same as they were five years ago. And 84% expect that, five years from now, they will be listening to the radio more or about the same as they do now. Almost two-thirds (64%) also said the radio is important in their everyday lives, and 84% said it is important in American life in general.

"The conventional thinking over the past couple of years has been that new technologies were going to overpower radio and threaten its relevance to the American consumer," said Ed Seeger, AMS CEO. "Well, we've heard all that before. Radio was going to become obsolete when television came along, and then when the eight-track cassette was installed in cars, and, most recently, when the computer revolution began. It didn't happen, and it isn't happening now." To underscore his point, Seeger pointed to a major turnaround over the past year in the number of respondents who indicated they have listened to the radio over the Internet. In an AMS survey conducted in April 2006, only about one-third (36%) said they had listened to the radio on the web, while last weekend's survey revealed that two-thirds (67%) now say they have. More than seven out of every 10 of those respondents, 71%, say they have listened to the radio over their home computer, while 42% have used their office computers to listen. Only six% had listened to the radio over a cell phone. Other responses on traditional radio listening included: 75% of respondents usually turn on the radio when getting in their cars; 83% would miss listening to the radio if it were not available; 81% say they think it is "not very" or " not at all" likely they will purchase satellite radio in the next few years. The telephone survey of 1,004 Americans adults was conducted during the weekend of March 30 - April 1, 2007.

Project Apollo Steering Committee to
participate in roundtable discussion

Members of the Project Apollo Steering Committee will participate in a roundtable discussion 4/9 4-6 PM CT hosted by the University of Wisconsin's AC Nielsen Center for Marketing Research at their semi-annual External Advisory Board meeting. The conversation between industry experts and students majoring in marketing research and product management will focus on the future of advertising and the marketing implications of Project Apollo as it begins to provide advertisers with better ROI and greater accountability tools. Nielsen and Arbitron are operating a national pilot panel of more than 11,000 persons in 5,000 households as a demonstration of the national marketing research service. Using Arbitron's PPM system, AC Nielsen Homescan technology and other technologies, Project Apollo aims to provide advertisers with a better understanding of the connection between consumer exposure to advertising on multiple media and their shopping/purchase behavior. Committee panelists include: Ron Bates Director, Global Analytics & Strategy, Kraft Foods. Donald Gloeckler, Manager, North America Media Research, Procter & Gamble. Mark Green, SVP/Strategic Measurement Initiatives, The Nielsen Company. Barbara Singer, Associate Director - Media Services, Kraft Foods.


RBR Stats
Attention beer drinkers!
Here is the news you really care about. The IRI Beer, Wine & Spirits Practice (a marketing research firm) is out with its annual list of the top 30 beer brand performers for 2006. IRI analyzed volume growth, share of segment trends, everyday base pricing, and incremental sales growth in 2006 versus 2005 to determine the brands with the strongest performance in the beer industry. Ranked #1 for year-over-year growth was an import, Newcastle Brown Ale from the UK, followed by Modelo Especial from Mexico. Two specialty domestics were next, Samuel Adams Seasonal and Blue Moon Belgium White Ale (which, despite its name, is a US brew). Fifth was one of the best known imports, Stella Artois. Where was Budweiser in the ranking? Its big growth brand, Bud Light, was #19. "Consumers are definitely willing to pay premium price for their favorite brands, with 21 of the top 30 performers being high-end brands that include 14 imports, 6 craft brands, and one malternative. Manufacturers are also meeting the ever-changing tastes of consumer demands with their new product innovations. The key now is getting the proper amount of shelf space and distribution in the right stores to support these power brands." said Bump Williams, general manager, IRI Beer, Wine and Spirits Practice. Ready to do your own research this weekend? Here is the top 30 list for 2006 and 15 up-and-comers to watch in 2007.
| View the Charts |


Transactions
1M WRKP-FM Wheeling WV (Moundsville WV) from RKP International Corporation (Ronald W. King) to Educational Media Foundation (Richard Jenkins). 50K escrow, 250K cash at closing, 700K note. [File date 3/15/07.]

200K WNWK-AM Wilminton DE (Newark DE) from East Coasat Broadcasting Inc. (Vincent Klepac) to Jose Roberto Ekonomo & Aida Esperanza Ekonomo. 10K deposit, balance in cash at closing. [File date 3/15/07.]


Stock Talk
Stocks up ahead of holiday
Word that billionaire investor Kirk Kerkorian was interested in buying Chrysler Group gave stock prices a boost ahead of the three-day market weekend. The Dow Industrials rose 30 points to 12,560. US stocks markets are closed today in observance of Good Friday.

Radio stocks were higher. The Radio Index rose 3.987, or 2.6%, to 160.097. Salem was the day's champ, up 8.7% as the volatile stock rebounded from the previous day's decline. Cox Radio jumped 8.3% as two analysts released reports again suggesting that it might be taken private by Cox Enterprises.


Radio Stocks

Here's how stocks fared on Thursday

Company Symbol Close Change Company Symbol Close Change

Arbitron

ARB

48.09

+0.37

Hearst-Argyle

HTV

27.73

+0.30

Beasley

BBGI

8.75

-0.05

Journal Comm.

JRN

12.89

-0.08

CBS CI. B CBS

31.02

-0.22

Lincoln Natl.

LNC

68.08

+0.52

CBS CI. A CBSa

31.00

-0.22

Radio One, Cl. A

ROIA

6.78

+0.25

Citadel CDL
9.64 +0.07

Radio One, Cl. D

ROIAK

6.82

+0.32

Clear Channel

CCU

35.68

+0.15

Regent

RGCI

3.17

-0.02

Cox Radio

CXR

14.89

+1.14

Saga Commun.

SGA

10.22

+0.21

Cumulus

CMLS

9.86

+0.41

Salem Comm.

SALM

12.82

+1.02

Disney

DIS

34.91

+0.27

Sirius Sat. Radio

SIRI

3.11

+0.02

Emmis

EMMS

9.08

+0.19

Spanish Bcg.

SBSA

3.67

-0.17

Entercom

ETM

28.17

+0.39

SWMX

SMWX

0.85

unch

Entravision

EVC

9.87

+0.02

Westwood One

WON

6.73

+0.06

Fisher

FSCI

48.99

+0.35

XM Sat. Radio

XMSR

12.38

+0.07


Bounceback

Send Us Your OpinionsWe 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
Women managing ad sales
At 30% of US radio stations...

Media Markets & Money
Three more CCU markets sold
This time the buyer is Three Eagles headed by Rolland Johnson...

Closing in the Tallgrass
1.25M purchase of a 5-station cluster...

Internet Media Business Report
Kaspersky Lab discovers
First virus for iPod named Podloso...

Ratings & Research
AMS introduces radio index
Indicates that most Americans continue to listen to radio the old-fashioned way...



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]

Arbitrends

Arbitron
Market Results
| Buffalo |
| Cincinnati |
| Dallas |
| Denver |
| Houston |
| Minneapolis |
| Pittsburgh |




Radio Media Moves

New
news boss

Ellen Weiss, who has served as head of the NPR News National Desk and Executive Producer of "All Things Considered," has been named Vice President for News, NPR. She will oversee NPR's worldwide journalism operations, including 18 domestic and 18 foreign bureaus; more than 400 staff members; and more than 50 hours of news programming weekly. Weiss has served as Acting VP for News since October 2006. Just this week, Weiss was named winner of a Peabody Award, along with correspondent Daniel Zwerdling and editor Anne Hawke, for the December 2006 NPR News investigation into how soldiers returning from Iraq to Fort Carson, CO with post traumatic stress disorder and other emotional problems were being punished and even discharged for seeking help.

Boston promotion
Phil Redo has been promoted to the position of Vice President and Market Manager of Greater Media Boston. Redo is responsible for overseeing all of Greater Media's Boston-based properties, which include FM stations WKLB, WROR, WMJX, WBOS and WTKK. Redo joined Greater Media in April 2006 as the Market Manager of Greater Media Boston. Prior to that, he was the Vice President of Station Operations and Strategy for New York Public Radio, WNYC-AM & FM.

No surprise here
Having already left CBS Radio as CEO, Joel Hollander has also stepped down from the board of directors at Westwood One, where he was once CEO. WW1 is managed by CBS Radio under a contractual arrangement.

Seat open at SBS
Now that he is back at CBS Radio as CEO, Dan Mason has resigned from the board of directors at Spanish Broadcasting System.


HD Radio 2007

Jaguar, Hyundai
to add HD Radios

Hyundai and Jaguar announced plans at the NY Auto Show to add an HD Radio receiver option to select 2008 models. Hyundai and Jaguar are the second and third automotive OEM's to formally announce their HD Radio plans in the last four months. In January, BMW said that it would offer the option of an HD Radio receiver across its entire 2007 product line. Hyundai will offer HD Radios on its rear-wheel drive premium sports sedan scheduled for introduction in 2008. Jaguar will offer it in its 2008 XJ line-up as an option.




More News Headlines

New owner for Kagan
A year after merging Kagan Research and Jupiter Research, MCG Capital, a public company, has un-merged them and sold Kagan to SNL Financial, a private company based in Charlottesville, VA. SNL defines itself as "the leading sector-focused provider of essential business intelligence to investment banks, money managers and corporations." By acquiring Kagan, SNL President Mike Chinn said his company is expanding its business coverage to include media and communications.


RBR Radar 2007
Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.

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.

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. Read Riley's Letter in this RBR report.
04/05/07 RBR #67

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.

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.
04/05/07 RBR #67

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.

RBR observation: Another entry into the world of on line services. Big guns like Google, DoubleClick, and others are attempting to get into the broadcast media biz in a big way. Only factor RBR sees as the top issue is the working knowledge of our broadcast medium. How the inner parts of a station truly works. RBR does not think that anyone of these companies has ever worked for or been inside of a radio or TV station no less sold an ad campaign to a local advertiser. Again RBR strongly urges broadcasters to research all companies before you commit your stations inventory.
04/05/07 RBR #67

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


Visit MediaHeadHunters.com

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

Find Your Radio Career

Post Your Companies Job Openings


Other Links

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