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Welcome to RBR's Daily Epaper
Volume 24, Issue 84, Jim Carnegie, Editor & Publisher
Monday Morning April 30th, 2007

Radio News ®

First "currency" data
from Philadelphia PPM

Arbitron released the first "currency" radio ratings from the Philadelphia PPM ratings, covering 3/8-4/4. One compelling new finding is the dramatic increase in the composition of the radio audience (persons 18+) who are employed Full Time compared to what was reported by the diary. As with the overall population, radio's "working persons" advantage also applies for the African-American listener, but to a larger degree in the PPM ratings data. The data also indicates that the composition of the AQH audience for black persons 18+ is significantly higher than diaries. "This is an important day for the American radio industry. Radio advertisers have been united in their desire for radio to enhance its accountability by adopting electronic measurement of radio audiences," said Steve Morris, Arbitron CEO. "We believe advertisers will have increased confidence in the medium, thanks to the increased accountability that electronic measurement delivers. Stations will have new audience insights to make improvements to their programming and broadcasters will be better able to garner incremental revenue from new and existing advertisers. We've already seen in our previously published studies of Portable People Meter estimates that radio audiences during commercials are far higher than anyone suspected."

As well, the PPM AQH Composition confirms targetability of formats. "Just as we have seen in our test markets, the Philadelphia March 2007 ratings show significant growth in the total audience reach of individual radio stations. That means advertisers can now turn to radio for something that they prize: the ability to deliver reach against a specific target audience," said Pierre Bouvard, president, Sales and Marketing, Arbitron. The PPM data indicate that listeners to African-American stations have the highest loyalty to the radio stations they listen to. See the chart. Additional analyses will be released over the coming weeks and months. The Portable People Meter radio ratings in Philadelphia are not yet accredited by the Media Rating Council. Arbitron has submitted the Philadelphia PPM for accreditation. Audit reports have been presented to the PPM audit subcommittee of the MRC and the process continues. See agency comments in Ad Business Report.
| See charts here |


Waiting for the ISS shoe to fall
With the Clear Channel buyout vote set for Tuesday, May 8th, we should hear this week whether Institutional Shareholder Services give the thumbs up or down to the 39 bucks offer. With the vote so close, and a two-thirds majority required, ISS may have the power to cinch or scuttle the deal. As the largest and most influential of the three major proxy advisors, ISS had advised clients to reject the original 37.60 per share offer (3/30/07 RBR #63). That put the pressure on Thomas H. Lee Partners and Bain Capital to come up with a better offer, which they did. Even so, there is plenty of opposition to the new bid of 39 bucks, with Highfields Capital and the Fidelity mutual funds group making no secret of their view that it is still inadequate. Reuters reported over the weekend that a lesser-known proxy advisor, Egan-Jones, had recommended a no vote on the 39 bucks bid. Still to be heard from are ISS, Glass Lewis and Proxy Governance, although the latter had reluctantly endorsed the earlier 37.60 bid. Meanwhile, Bear Sterns analyst Victor Miller was beating the drum again Friday for his proposed "Plan B" if the Lee/Bain buyout is rejected. Clear Channel has already announced a deal to sell its TV group for 1.2 billion and is about a third finished selling off its non-core small market radio clusters. Miller also wants the company to sell its international outdoor holdings and spin off the remaining domestic outdoor company, leaving Clear Channel Communications as a pure play radio company and Clear Channel Outdoor as a pure play billboard company. Both could then lever up and pay out large special dividends or buy back shares. The analyst figures all that would generate a share price in the mid 40s.

Humpty Clear Channel
apart for good?

Former FCC Commissioner Harold Furchtgott-Roth says that the break-up of Clear Channel, for some, is a "bitter pill" in an essay called "Dismembering Clear Channel" published last week in the New York Sun. He notes that the fate of the current per-share offering for the company is uncertain, but that a sell-off is going on in any case. "Once the company is dismembered, it can never be put together again - nor will any other company likely replicate it, as Clear Channel built the largest radio network in the world to complement a profitable array of other advertising distribution assets." He praised the company's size when it was at its most robust. "Potential advertisers could choose from a large and varied portfolio of advertising options that would have been an impossible dream just 15 years earlier." He said its size enabled both the efficient sale of national advertising accounts and the hiring of national-quality talent. "Investors saw the innovations of Clear Channel and liked them." However, he noted that the company has struggled to recover from the industry-wide downturn that kicked in Y2K. It also bred contempt for its innovation and large size. He said there are lots of reasons the break-up may have occurred. "But for investors who strongly believe in the value of an integrated company with many different advertising channels, today's dismembering of Clear Channel is a bitter pill."

RBR observation: We occasionally see anecdotal evidence that one reason Clear Channel may be struggling is that no matter how local a large company tries to be, it simply isn't an easy task to pull off from one building in San Antonio. The top of a hierarchy can't help but try to govern the entire group, with varying effects down the line. For example, the effects of a new challenge in Hooterville are immediately apparent to Mom & Pop's Hooterville Broadcasting Company. If nothing else, the GM at the Clear Channel cluster across town may have to get blessings from Corporate to do what Mom and Pop did three weeks ago. Anyway, what investors see as a "bitter pill" may be seen as "blessed relief" by fans of local broadcasting. Any thoughts? That's what our Bounceback section is for [email protected] .


FCC violence report continues to draw commentary
Everybody has an opinion on the FCC's recommendation to Congress that it come up with enforceable restrictions on broadcast violence. Some think such regulation is long overdue, while others see it as a full-frontal assault on the First Amendment. Let's focus on one this morning: Morality in Media. The media watchdog said that the FCC "is to be commended" for the report, but correctly, we think, added that "a constitutional amendment may be needed to protect children from violent entertainment." MIM's Robert Peters said that when protecting children, the government should have some leeway regarding protected speech, but "These days the Supreme Court also applies 'strict scrutiny' to laws that restrict speech based on content, and as the Court has said, 'it is rare' that any such law 'will ever be permissible.' One way to overcome this Supreme Court-imposed roadblock is to add a Justice or two who still have some common sense. Failing that, the Constitution will have to be amended to clarify that the First Amendment does not prevent government from enacting reasonable legislation to protect children from entertainment that is harmful to them." Peters concludes that blocking technologies aren't enough, since "...wise consumer choice depends on wise parents, which not every child is fortunate to have."

RBR observation: Freedom of speech. Use it wisely, or we take it away. Is that what the Founding Fathers intended? But forget about all that. Let's say we grant the FCC's wish and eradicate violence from television. It's gone. Does anybody out there really believe that suddenly all of society's ills will by cured? Does anybody out there seriously believe that ANY of society's ills will be cured? Of course they won't, and that means that broadcasters are once again being used as a convenient scapegoat. Look at MIM's closing point - inattentive parents may allow their children to see violent programming. Don't you think the child's problem is inattentive parents? Whether the kid watches TV or not, the parent problem is what needs to be addressed, and if you know how to do that let us all know so we can begin polishing your Nobel Prize for immediate delivery. But do not monkey around with a foundation stone of the world's greatest democracy to pursue a policy for which has zero chance of success.

Washington State Talkers
free to opine

John Carlson and Kirby Wilbur of Fisher Communications' KVI-AM Seattle were trying to whip up opposition to a gas tax hike imposed by the State of Washington a couple of years ago which involved support for a ballot initiative. Now the state's Supreme Court has said their actions did not constitute a like-kind political contribution. The court's nine justices ruled unanimously. According to the Seattle Times, the issue was a 9.5 cent per gallon gasoline tax which was going to be used to help fund local transportation initiatives. Initiative 912 was the ballot proposition which would have turned the tax down, and the radio hosts were actively encouraging their listeners to vote in favor of it. The local governments, including that of Seattle, took them to court and earned a ruling that the time Carlson and Wilbur spent talking about the topic did in fact constitute an in-kind contribution from licensee Fisher to a one-issue public organization called No New Gas Tax (NNGT). Carlson and Wilbur were backed in their appeal by the American Civil Liberties Union, the Cato Institute and other groups. The Washington Supremes said there was no direct link between Fisher and NNGT and that the hosts' exhortations fell within the media exemption. For the record, the Talker's talk was valued at 20K in the first, now-overturned ruling.

RBR observation: A precedent is set - in the wrong Washington. It might have much longer legs if it happened in the Washington that has DC after it. A legal representative for the local governments conceded defeat, but said the case was in the legal gray area and would come up again, somewhere, some time.


Ad Business Report TM

Agencies comment on Philly PPM data
As Kathy Crawford, MindShare President/Local Broadcast, told us Friday (4/27/07 RBR #83), "...there are going to be individual changes-especially in demographics that were harder to measure in the diary. Those demographics will have a potential of being a greater change because they were do difficult to measure." Well that's indeed true (see Radio News).We asked other agency buyers what they thought about this initial PPM data release for Philly:

Any comments in general about the Philly PPM numbers? Said Rich Russo, JL Media's SVP/Director of Broadcast Services: "I just started to look at them, it takes a while to set it up and cross reference it to what we are used to seeing. The feeling is that this is basically a work in progress in terms of costing out stations and really won't be a factor 'til 2008 buys. I think now it's just a new improved research tool. From what I see, it must be good to be WMMR. I guess Rock isn't dead afterall. Maybe this will wake up some companies who have abandoned the format to readdress it. Other than that, way too early to comment."
| Read More... |

ABSOLUT launches funky
new global campaign

ABSOLUT Vodka announced its next global advertising campaign titled "In an ABSOLUT World." The new advertising challenges the status quo by presenting a bold and optimistic world view. The launch is supported by print, broadcast, out-of-home, PR, on-premise promotions and viral activity. Created by TBWA/Chiat/Day/New York, the campaign will break the week of 5/15 in the US with a broadcast spot and print executions in June weeklies. The first U.S. broadcast spot, titled "Protest" depicts an epic scene that opens with a tense standoff between protesters and police. As the clash ensues, the viewers witness a massive, friendly pillow fight -- demonstrating an alternate way to resolve conflicts. The first U.S. print to launch is a photo of Times Square with iconic works of art installed in lieu of advertising. Other print executions include a factory emitting harmless bubbles instead of smoke, a pregnant man with his wife at a cocktail party and a bar scene where people wear buttons labeling their dating status and mindset. The campaign also includes an industry-leading social responsibility broadcast spot. Titled "Taxi," the spot illustrates a young couple exiting a club. As they press the key fob, instead of unlocking their car it signals a taxi, suggesting that in an "ABSOLUT World" people would always call a cab or use a designated driver after they drink. "In an ABSOLUT World" will also be supported by viral elements that will bring the idea to life for consumers. On 5/14, ABSOLUT will begin a week of guerrilla activities in New York that will make the city a better place for one week. Consumer activities include rickshaw rides in Soho and the Meatpacking District, music downloads in Union Square, Metro Card giveaways and VIP treatment at select downtown restaurants and clubs, all compliments of ABSOLUT. The campaign will continue this summer with out-of-home executions in New York, Los Angeles, San Francisco, Miami, Las Vegas and Chicago that speak directly to these geographic communities. The global campaign will also roll out in 12 international markets this year.


Washington Media Business Report TM
Where's the evidence of a bird kill?
The NAB has joined with a number of other industry organizations to head off any further regulation on towers with regard to the migration patterns of birds. They support further research, but argue that current results are at best sketchy and do not warrant any kind of policy change. Even if it is found that there is a bird mortality problem (and virtually all broadcasters we've heard from wonder where the corpses are), "the facts simply do not exist for the Commission to determine whether there is an issue worthy of action let alone fashion a thoughtful solution." Recommendation: Let the studying continue, but don't act in advance of real results.


Media Markets & Money TM
New haven for Tieman
And it'll be a grand new haven. In fact, it's Grand Haven, Michigan, where Will Tieman will be getting WGHN AM & FM from WGHN Inc., headed by William J. Struyk and Ronald Mass. According to Susan Patrick and Summer Foust of Patrick Communications, who handled brokerage chores, the price tag is 1.65M. both stations bring Adult Contemporary programming to the town, which is located right on Lake Michigan, south of Muskegon and west of Grand Rapids.

Kagan, BIA arm wrestle over TV deal
Sandy DiPasquale's BlueStone has just gotten its name in the news for buying the Clear Channel television group with backing from Providence Equity Partners, but its previous deal to sell a TV group was at issue at the FCC. Well, one station, anyway. Its deal sending a group of small-market TVs to Bonten Media was held up on a petition to deny the inclusion of one of them: KCFW-FM Kalispell, satellite of NBC KECI-TV Missoula. The satellite status was allowed before because the overlap between the two stations is minimal, amounting to 4.9% of the DMA's territory and 7.1% of its population. But Marshall R. Noecker claimed there was reason not to overlook the prohibition on any overlap among satellites. There's a prospective buyer: himself. He argued that could make a bona fide offer, bring in a new network and acquire competitive syndicated programming, backed by stats from Kagan Media Appraisals Robin V. Flynn. BlueStone and Bonten noted that there were problems with the offers, including a non-compete involving KCFW's home town of Kalispell, and further answered with BIA Financial Network's Mark Fratrik arguing that there wasn't nearly enough support in the market for a station to go it alone against four established, satellite-equipped incumbents. The FCC decided that its original decision to allow the flagship-satellite arrangement still had merit; that much of Noecker's proposal to compete was speculative. Admitting it was a split decision, the FCC said, "On balance, given the history of this market and the fact that we have granted this station satellite status twice before, we find that the satellite waiver should be continued."


Internet Media Business Report TM
Can search engines find stories
on your news web site?

by Graeme Newell, 602 Communications

Search engines like Google are constantly searching web sites all over the world cataloging and indexing every word on a myriad of sites. These days most visitors to your news site will enter through the side door, not the front door. Readers will use search engines to find the content and go right to the specific page on your site, completely oblivious to your carefully crafted index on your home page. The importance of your home page is waning. Plain and simple, the best way to create traffic to your site is to make powerfully sure the search engines can find you - and find you easily. An entire industry has sprung up around these complex search criteria. Millions are spent tweaking copy and placing the perfect words in the perfect place. Most retailers have discovered that search engine optimization isn't just the best way to promote their site - it's the only way.
| Read More... |

SaveNetRadio applauds legislation to save Internet radio
The SaveNetRadio coalition applauded Jay Inslee (D-WA) for introducing legislation that could save webcasters from bankruptcy. "The Internet Radio Equality Act" would reverse the 3/2 ruling by the Copyright Royalty Board (CRB) that increased the fees webcasters pay to play music online by a stunning 300 to 1200 percent. The Internet Radio Equality Act would vacate the CRB's decision and set a 2006-2010 royalty rate at the same level currently paid by satellite radio services (7.5% of revenue.) The bill would also change the royalty rate- setting standard used in royalty arbitrations, so that the standards applying to webcasters would align with the standard that applies to satellite radio royalty arbitrations. According to Inslee's office, the bill will reverse the recent CRB decision and change the royalty rate-setting standard that applies to commercial Internet radio royalty arbitrations so that it is the same standard that applies to satellite radio. For public radio, the bill sets a royalty standard designed for noncommercial entities. Commented NAB EVP Dennis Wharton: "NAB is reviewing details of Rep. Inslee's bill, which would overturn the Copyright Royalty Board's disappointing decision to dramatically raise fees for companies that stream music over the Internet. We will work with Congress to craft a solution that helps ensure the survival of a fledgling audio platform."


Ratings & Research
Consumer goods companies plan
to increase spending on interactive

Leading consumer goods companies are steadily growing their investment in interactive marketing, and plan to continue increasing their interactive budgets in the foreseeable future, according to a Coogan & Partners / SoftCoin 2007 Interactive Marketing Landscape Survey. The study polled 42 major consumer goods companies representing a wide range of categories and products. According to the survey, consumer goods companies currently invest an average of 6.4% of their total marketing budget towards interactive marketing. However, 45% of the companies surveyed plan to increase their total investment in interactive marketing budgets by a minimum of 25% over the next two years. This represents a profound shift in the traditional marketing mix. The study also found there were distinct differences in terms of willingness to embrace and implement interactive marketing programs. These differences are directly correlated to the progress reported by survey participants. For example, 82% of companies engaging fully in interactive marketing reported high satisfaction with marketing program results, while only 60% of companies not as deeply engaged reported the same level of progress. For those fully engaged, key factors that emerged were:

-- A commitment to campaigns that engage consumers and dovetail with brand equity
-- The presence of a dedicated internal interactive marketing department
-- The integration of online components with traditional marketing tactics
-- The willingness to embrace emerging media vehicles
-- A means to measure results and demonstrate improved ROI
-- Senior management support for interactive marketing


Monday Morning Makers & Shakers

Transactions: 3/12/07-3/16/07
Things are still essentially moving kind of slow out there, ladies and gentlemen. Suffice it to say that the virtual mailman did not risk a hernia carrying this week's filed volume nor value over to the FCC transaction database. Almost all of the action was outside of rated territory, and all but one transaction involved a single station. The lone top-50 contract was a 1M filing for a noncommercial FM in Puerto Rico. Television was absent. This just missed being the slowest week of 2007, an honor still held by sub-8.1M 2/19-23/07.

3/12/07-3/16/07

Total

Total Deals

11

AMs

10

FMs

7

TVs

0
Value
9.399M
| Complete Charts |
Radio Transactions of the Week
Zebulon GA earns the honors
| More...
|
TV Transactions of the Week
Transaction? We don't got no stinking transaction...


Transactions
2.4M KFPT-AM Fresno CA (Clovis CA) from Peak Broadcasting LLC (Todd Lawley) to Fat Dawgs 7 Broadcasting LLC (Christopher L. Pacheco, Jim Huelskamp). 245K escrow, balance in cash at closing. Duopoly with KFIG-AM. LMA until closing. [File date 4/4/07.]

1.7M KSND-FM Monmouth OR from Radio Beam LLC (Earnest R. Hopseker) to 94 Country Inc. (Donald D. Coss). 85K escrow, balance in cash at closing. [File date 4/4/07.]


Stock Talk
Broadcasters down, but Dow sets another record
The Commerce Department reported on Friday that GDP growth in Q1 was the slowest in three years, an annual rate of 1.3%, which seemed to run counter to the string of strong corporate earnings being reported. Even so, the Dow Industrials set another record, closing up 15 points, or 0.1%, at 13,121. The broader market was mixed.

Radio stocks were mostly lower. The Radio Index was down 2.572, or 1.6%, to 162.084. Salem had a tough day, down 7.5%. Citadel dropped 4.4%.


Radio Stocks

Here's how stocks fared on Friday

Company Symbol Close Change Company Symbol Close Change

Arbitron

ARB

49.36

-0.11

Hearst-Argyle

HTV

26.36

-0.74

Beasley

BBGI

8.95

-0.01

Journal Comm.

JRN

13.49

+0.10

CBS CI. B CBS

32.04

-0.18

Lincoln Natl.

LNC

71.17

-0.58

CBS CI. A CBSa

31.98

-0.06

Radio One, Cl. A

ROIA

7.44

-0.06

Citadel CDL
9.38 -0.43

Radio One, Cl. D

ROIAK

7.44

-0.07

Clear Channel

CCU

35.70

-0.10

Regent

RGCI

3.49

-0.01

Cox Radio

CXR

14.50

-0.44

Saga Commun.

SGA

10.14

+0.04

Cumulus

CMLS

9.93

-0.12

Salem Comm.

SALM

12.58

-1.02

Disney

DIS

34.98

-0.19

Sirius Sat. Radio

SIRI

3.04

+0.08

Emmis

EMMS

10.15

-0.12

Spanish Bcg.

SBSA

3.63

-0.07

Entercom

ETM

28.38

-0.25

SWMX

SMWX

0.55

-0.05

Entravision

EVC

10.03

-0.11

Westwood One

WON

7.00

-0.01

Fisher

FSCI

48.83

-0.19

XM Sat. Radio

XMSR

11.98

+0.20


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
Philly PPM data
Agencies comment, today Rich Russo, JL Media; Matthew Warnecke, MediaCom...

Media Markets & Money
Kagan, BIA arm wrestle
Over TV deal asSandy DiPasquale's BlueStone is in the news...

New haven for Tieman
It'll be a grand new haven. In fact, it's Grand Haven, Michigan...

Washington Media Business Report
Where's the evidence
Of a bird kill? NAB has joined with a number of others to head off...

Ratings & Research
Consumer goods companies
Plan to increase spending on interactive...



Stations for Sale

CA Coastal Class A
Rated Market $1.5M
CO Rated Market C.P.
Class C1 $400K
Brett Miller - 805.543.3466
[email protected]

OR Coastal Class A FMs
Positive Cashflow $795K
ND Small Market C.P.
Class C1 $150K
Brett Miller - 805.543.3466
[email protected]


Market your Stations For Sale
in our daily epapers.

Contact
June Barnes
[email protected]

Radio Media Moves

Back to Chicago
Chicago native and veteran newscaster John Dempsey returns to the Windy City to serve as Morning News Anchor for Don Wade & Roma in the morning on WLS-AM. Dempsey is currently Morning Anchor/Host of on KMBZ-AM Kansas City.




More News Headlines

Talkers follow
the headlines

The talk world generally amplifies the top news, taking whatever is on top of the Project for Excellence in Journalism chart and turning the volume way up. In the case of the shootings at Virginia Tech, there wasn't that much farther to go to reach the saturation point. National news media gave it 51% of the hole during the week of 4/15-20/07, a figure talkers bumped up to 63%. although all other issues paled on both charts, the two that talkers picked after VT were a little offbeat. The NASA shooting, good for 2% on the news chart, got 5% of the talkers', as did the infamous Alec Baldwin voicemail, a mere 1% entry into the news hole.

A look at auto
ad spending

Advertising spending for the Automotive Industry in 2006 declined 1% to 13.5 billion, with gains in seen in Spot TV (4%), Network TV (3%), and Spot Radio (8%), according to Nielsen Monitor-Plus, the global advertising information service of The Nielsen Company. Nearly 80% (10.5 billion) of automotive advertising in 2006 was placed on television and 11% (1.45 billion) was spent in national magazines.
| Read More... |

Chrysler makes
changes in sales and
marketing posts

Chrysler Group CEO Tom LaSorda announced the appointments of several key sales and marketing execs effective 5/1. Steven Landry will be promoted to EVP/NAFTA Sales, Global Marketing, Service and Parts, and Michael Manley will be promoted to EVP/International Sales, Marketing and Business Development. Both executives will report directly to LaSorda. Landry currently is Vice President - Sales and Field Operations, while Manley serves as Vice President - Sales Strategy and Dealer Operations. In addition, Darryl Jackson will be promoted to VP/U.S. Sales; Mike Keegan will be promoted to VP/Volume Planning and Sales Operations; and Tom Hausch will be promoted to VP/International Sales. Jackson and Keegan will report to Landry, while Hausch will report to Manley. In addition to Jackson and Keegan, execs reporting to Landry in his new role include: Christine Cortez, SVP/Global Service and Parts; George Murphy, SVP/Global Marketing and Advertising; Joseph ChamaSrour, President - DaimlerChrysler de Mexico; Reid Bigland, President and CEO - DaimlerChrysler Canada; and, Michael E. Yatsko, Director - Franchising Operations.




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

Pacings soft for
Clear Channel Radio
CEO Mark Mays called "solid first quarter results," with radio revenues up 3% to 819.7 million, Clear Channel Communications warned that radio is pacing down 1.6% for Q2. How will that affect the May 8th vote on the going private buyout? Bank of America analyst Jonathan Jacoby said the Q2 outlook was worse than he had expected for radio, but he said the market had already likely anticipated a soft Q2.

RBR observation: Less is still less. While Q1 radio revenues were up from a year ago, they were still down from before Clear Channel launched its Less is More initiative. That target was 832.9 million in radio revenues set in Q1 of 2004 - three years ago. Clear Channel has sold a few small market stations in the interim, but that hardly accounts for the 13.2 million shortfall. Clear Channel's main business is radio, not outdoor, so it doesn't make a lot of sense to depend on a bailout from the #2 business line if #1 is still ailing. All in all, Clear Channel's Q1 results appear to argue for the "take the money and run" side as far as the May 8th vote is concerned.
04/27/07 RBR #83

Nothing to fear on PPM in Philly
RBR asked Kathy Crawford, MindShare President/Local Broadcast, about fears that there will be lower AQH numbers and therefore less dollars for radio in the market. Will buyers increase the CPP value to compensate? How will it pan out in negotiations? "The same way that it happened with the LPM [Local People Meter-for TV]. The bottom line was the pricing didn't change, the CPP changed," (for the Q&A with Crawford see Ad Business Report section in RBR)
04/27/07 RBR #83

39 bucks is all they have to give
If you are a Clear Channel shareholder waiting for Thomas H. Lee Partners and Bain Capital to raise their bid a second time, you may be waiting forever.

RBR observation: We are inclined to believe him. Sperling was reluctant to raise the original 37.60 bid (4/12/07 RBR #72) and did not get to the 40 bucks mark that would have probably guaranteed acceptance. Now we wait to see if 39 bucks will get the job done - or not.
04/26/07 RBR #82

AM/FM radio listening
still dominates
use of digital audio platforms Arbitron and Edison Media Research say AM/FM radio listening still dominates use of digital audio platforms. The study, "The Infinite Dial 2007: Radio's Digital Platforms," found average time spend listening to AM/FM radio by persons 12+ was 2 hours, 37 minutes per day -- but those who use digital platforms listen a full to 2 hours, 45 minutes per day among those who use radio's digital platforms. (Complete details see Ratings & Research in RBR)
04/26/07 RBR #82

FCC weighs in on DTV
It you're a retailer, and you want to sell an analog-only television receiver, you must make sure that the buyer knows that it possibly will become no more than a paperweight on 2/17/09. Second, even though most broadcast television stations are now operating with some form of side-by-side digital platform, the problem child, the issue of forcing cable to provide dual digital/analog must-carry after 2/17/09.
04/26/07 TVBR #82

Hip-Hop flip-flop
Reversing course from a statement issued just two weeks ago (4/16/07 RBR #74), Hip-Hop Summit Action Network founders Russell Simmons and Benjamin Chavis are now calling for record labels to ban three particularly inflammatory words: bitch, ho and that racial epithet so vile it is usually referred to in polite company as the "n-word."

RBR observation: The heat is on. Who could have imagined that Don Imus would prove to be the catalyst for a movement to take the degradation of women out of hip-hop and rap? It is unfortunate that C. Delores Tucker did not live to see this day - if there is indeed going to be an era of new social responsibility by the record labels.
04/25/07 RBR #81

Shareholders revolt at Gray Lady
In what appears to be a record for a US public company, 42% of Class A shareholders withheld their votes for the four New York Times Co. directors up for election at yesterday's annual meeting. All directors, however, vowed to keep their seats. Dissident shareholders, led by Hassan Elmasry, who manages an investment portfolio for Morgan Stanley clients, have demanded stronger performance by the company and an end to the two-tiered stock structure that gives the Ochs-Sulzberger family voting control of the company via their Class B shares. (more on the Gray Lady see TVBR)
04/25/07 TVBR #81


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