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Volume 23, Issue 95, Jim Carnegie, Editor & Publisher
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Monday Morning May 15th, 2006
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Radio News ®
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 Univision floodGates:
A marriage made in...Seattle?
Mexican telecommunication giant Televisa is serious about its play for US Hispanic media giant Univision. One of the main things holding it back is its Mexican heritage, which limits it to a 25% stake in US broadcast licenses. However, it has decided to sign up some partners. In a release, the company wrote, "The board of directors of Televisa held a meeting on April 27, 2006 and authorized Emilio Azcarraga, Chairman of the Board, President and Chief Executive Officer of Televisa, and Alfonso de Angoitia, Executive Vice President of Televisa, in their judgment to enter into a group with others and to make a plan or proposal for a transaction with the Issuer which, if successful, would involve an increase in Televisa's minority shareholding of the Issuer. By announcing this action by the Televisa board, it should not be understood that Televisa is undertaking an obligation to report on each step of a potential transaction. Televisa, pursuant to such authority, and Bain Capital Partners, LLC, Blackstone Management Associates V, LLC, Carlyle Investment Management, L.L.C., Cascade Investment, L.L.C., and Kohlberg Kravis Roberts & Co. L.P. have decided to work together for the purpose of making such a plan or proposal." Univision combines the largest Hispanic television network operation with both the largest collection of Hispanic television stations and the largest radio group.
RBR observation: Cascade Investment can be translated into two relatively small words that further translate into big bucks. The two words are "Bill" and "Gates." We will leave it to each of you out there in cyberspace to imagine just what might happen when the world's richest man gets a major foothold in the broadcasting business. But just to get things started: Battle lines are being drawn between broadcast, cable, telco and satellite interests. One of the big issues on the table is broadband deployment. On top of that, it seems that every day the Internet gang gets just a little bit better at offering high-quality audio and video. Hmmmmmmm.....Anyway, for those of you keeping score at home, Bill Gates' Cascade Investment is a 5%+ investor in Fisher Communications, although that attributable interest would not appear to pose any hurdles to owning an attributable interest in Univision.
Mediamark Research pulls out of ratings competition
Now there are only two contenders to provide electronic radio ratings in the United States. Mediamark Research Inc. (MRI) notified the Next-Generation Electronic Ratings Evaluation Team on Friday that it has withdrawn from the competition. There was no public announcement, but a company spokesman told RBR that MRI had not changed its position that it would not fund a US test itself and that any such test would have to be funded by the radio industry (3/28/06 RBR #61). With the withdrawal of MRI, the remaining competitors are Arbitron, with its Portable People Meter, and The Media Audit/Ipsos, whose system uses Smart Cell Phones. The MRI proposal had used the Eurisko Media Monitor, developed by a related company in Europe.
RBR observation: Hardly surprising. MRI's proposal that the US radio industry pay for any US field test of its system was pretty much a non-starter from the beginning. Arbitron is in the midst of its second full-scale US field test in Houston and The Media Audit/Ipsos is getting ready to start its first test, also in Houston. Both managed to find their own funding for the tests to compete for the lucrative business of measuring US radio audiences. So we say it again, hardly surprising.
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 RBR Observation
Guilty until proven innocent
To read the general press accounts of New York Attorney General Eliot Spitzer's latest record company settlement, you'd think that the radio industry is rife with payola violations. That's because Spitzer has been spinning that yarn for over a year now and no one in the so-called mainstream media has bothered to investigate whether there is any truth to what Spitzer has been saying. Nor has anyone except RBR questioned his motives - since by acting as a national music/radio cop, where he has no real jurisdiction, Spitzer has been garnering lots of free publicity as he runs for higher office - Governor of New York - and handing out goodies, 27 million bucks so far, to his pet charities. We have read the latest settlement with Universal Music Group (UMG) and, like the two record label settlements signed last year, it cites a couple of instances of possible payola violations by radio station employees (one by an individual already cited previously and another by an individual yet to be identified), then piles on a bunch of allegations of supposed "illegal" activities by radio stations and their corporate owners. In truth, those practices are perfectly legal and long accepted. Yet Spitzer continues to insist that they violate the federal payola statute and the FCC's sponsorship identification rules. This makes us wonder if Spitzer has actually read either, since his interpretation is obviously so far off base. Bizarrely, he claims once again that spin shows are illegal, citing UMG for buying music play on Citadel's "Airbound" show and Entercom's "CD Preview." Such spin shows clearly comply with the FCC's rule because they feature sponsorship identification for each and every song. As with the previous settlements with Sony BMG and Warner Music, Spitzer has branded all promotional support given to radio stations, either directly or through independent promoters, as illegal "corporate payola," although his settlement once again fails to provide any evidence of a quid pro quo amounting to violation of the sponsorship ID rule. Nevertheless, he has now forced three major record companies to discontinue virtually all promotional support nationwide because of his bullying, which has no basis in law. Why, we wonder, is this petty tyrant permitted to get away with this repeated abuse of his office?
| Read the settlement with UMG |
| Read the supporting documents |
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Indecency bill on the docket?
Rumors are hot and heavy that Sen. Sam Brownback (R-KS) will be able to get some action on his Broadcast Decency Act of 2004...uhh, 2005...make that 2006. "There is overwhelming bipartisan support for the Broadcast Decency Enforcement Act in both chambers of Congress," said Brownback. "In 2004 ninety of my current Senate colleagues voted in support of an amendment containing the exact same language contained in the Decency Act. In fact, the only 'no' vote was cast by a Senator who is no longer serving. Last year, the House passed a similar bill by a vote of 389-38." In fact, the full House has twice approved companion legislation, but it has thus far been hung up in the Senate. The House version was sponsored by Fred Upton (R-MI), approved by the House version of the Commerce Committee, and approved by an overwhelmingly bipartisan vote on the floor of the full body. It would raise maximum fines up to 500K for particularly egregious acts of broadcast indecency, would open the possibility of fines to non-licensees such as the offending performers, and would instruct the FCC to initiate license revocation proceedings against repeat offenders. Brownback's version, if it makes it to the Senate floor in its simplest version, would indeed be simple. It would increase the maximum FCC fine tenfold, from 32.5K to 325K and would avoid the extras contained in the House version. Its initial pass through the Senate Commerce Committee became an amendment festival, and it never did receive approval from the full body, although it was even more difficult to find anyone philosophically opposed to the concept in the Senate than it was in the House. A last ditch effort to tie to unrelated legislation failed.
 Frets about Cumulus' leverage
Moody's Investors Service has placed its ratings of Cumulus Media on review for possible downgrade, following the company's announcement that it intends to commence a Dutch auction tender offer to repurchase up to 11.5 million shares (24.1%) of the company's outstanding common stock (5/11/06 RBR #93) and repurchase 4.5 million shares of Class B Stock owned by Banc of America Capital Investors and BA Capital. All in all, Cumulus will spend up to 200 million on the buybacks. That has Moody's looking at the implications for bondholders. "The review is prompted by our expectation that leverage will increase and credit metrics will weaken significantly in the near-term as the company uses debt to finance the share repurchase. It is likely that leverage will increase to in excess of 7.5 times (as measured as Total Adjusted Debt to Adjusted EBITDA, per Moody's Standard Adjustments). As a result, Moody's anticipates that the outcome of the review may result in a one to two notch downgrade," the ratings agency said. "The review will focus on the company's ability to reduce the incremental leverage taken on to finance the share repurchase with internally generated cash flow. Moody's will conclude the review when there is greater visibility into the company's future capital structure," it added.
The following ratings are under review for possible downgrade:
Cumulus Media, Inc.
(i) Senior Secured - Ba2
(ii) Corporate Family Rating - Ba2
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Ad Business Report TM
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Revenue Development Systems
creates Sports Marketing Division
Emmis' Revenue Development Systems (RDS) announced the creation of Emmis Sports Marketing (ESM), a full service agency specializing in sports. According to General Manager Elaine Clark, Emmis Sports Marketing will work with National and Regional companies on their sports-marketing interests across the country. Because of Emmis Sports Marketing's existing relationships, ESM can be a one-stop shop for companies wanting to use sports as their marketing platform. "We work with organizations to build profitable marketing programs capitalizing on captive, targeted groups of sports fans who support their teams and their teams' sponsors," said Clark. "The programs we create are multi-faceted, include a call to action for the consumer, and always have a measurable result." Dave Barnett has been named to the position of Director of Sports Marketing for ESM. Barnett previously worked with the St. Louis Cardinals Baseball radio network, secured local sponsorships for college teams while working for CBS Radio, and has expertise creating local activation programs for national advertisers. ESM can place media buys and execute programs in multiple markets with multiple platforms and multiple teams. Programs include local activation elements that engage consumers and deliver results.
Retailers expand support for
HD Digital Radio with campaigns
Beginning today, Mickey Shorr will launch a marketing and advertising campaign devoted to HD Digital Radio, while ABC Warehouse will be expanding on its current HD Radio campaign, the HD Digital Radio Alliance announced today.
| Read More... |
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| Media Markets & Money TM |
Sixth state for Robinson
Entravision Communications is spinning off an Arizona FM, and Todd Robinson is picking it up in a deal for KZLZ-FM Kearney, which serves the Tucson market. According to the brokers, Kalil & Co. for the seller and Bill Whitley of Media Services Group for the buyer, the price is 4.75M. Robinson is already active in California, Idaho, Wisconsin, Virginia and West Virginia.
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| Washington Media Business Report TM |
Whoa, there, fella
A pending deal will allow NBC/Telemundo to get into the Phoenix market by swapping its Channel 11 Holbrook station, KHPZ into Phoenix on Channel 39. Community Television Educators (CTE) will take its KDTP-TV the other way. Cable operator Cox Communications (CoxCom) wants the Phoenix DMA modified so that Holbrook, 148 miles away, is not considered to be a part of it. And it wants KDTP off its system. The two broadcast principals have formally objected, since the trade has not yet been consummated. The FCC sided with the broadcasters, writing, "Because the stations have not begun operating in their new respective communities, the record in this proceeding is in flux. There can be no certainty as to when the stations will begin operating in their new cities of license and no certainty of the nature of the stations' operating, either technically or operationally." The CoxCom dismissal, at least, was rendered without prejudice, and the cable company is free to pursue its case once the dealings between NBC Telemundo and CTE are complete.
 Bipartisan PERFORM Act
moves forward
Howard Berman (D-CA) and Mary Bono (R-CA) in the House, and Diane Feinstein (D-CA), Lindsay Graham (R-SC) and Senate Majority Leader Bill Frist (R-TN) are moving forward legislation which would attempt to protect the copyright of artists in the digital age. The bill is called The Platform Equality and Remedies for Rights Holders in Music Act of 2006, or PERFORM Act. "One of America's greatest treasures is its intellectual property," said Rep. Berman. "People are listening to more music in more places than ever. Yet the music industry is in crisis, with its revenue declining from $14.5 billion in 1999 to $12.1 billion in 2004." The bill will attempt to strike a balance between fostering technological development, while at the same time seeing to it that artists are adequately compensated when their work is passed on from one consumer to another.
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| Internet Media Business Report TM |
Gannett buys Planet Discover to power local search
Gannett has acquired Planet Discover, a provider of local, integrated online search and advertising technology. Planet Discover provides the platform that powers local search on a number of leading websites. Integrated search reaches out to a wide variety of sources and brings the results together in a presentation that ensures satisfaction on the part of the searcher, as well as the advertiser. In addition to many of Gannett's websites, Planet Discover will continue working with its other clients. "Gannett is exactly the kind of partner we need going forward. There are huge opportunities in local search, and Planet Discover is superbly positioned to take advantage of them," said Terry Millard, president and CEO of Planet Discover. "We are very pleased to become part of a company with such expansive reach and local roots." Millard and his brother, Todd Millard, Planet Discover's chief technology officer, will remain with the company, which is located in Covington, KY, and Cedar Rapids, IA.
RBR observation: Gannett has TV but they are first branded as a Newspaper organization with USA Today and a larger number of local papers are turning the corner needed by focusing on technology. Radio operators are wise to do the same. Here is a paper company buying Technology as it waits for No One. If you can not develop the technology yourself - the next best thing - Buy the company that has done the heavy lifting and the work for you and integrate them into your operations. Or get left behind. End of observation - Period.
April Webcast Metrics ratings released
 Ando Media has released its monthly Internet Radio Top 20, a listing of the top-performing Internet radio stations and networks measured by the Webcast Metrics audience measurement platform. The audience of online radio network leader Net Radio Sales is up 20% over March and more than 36% this quarter, another in a series of positive up trends for Internet radio.
| View the Numbers |
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| RBR Stats |
BIG Executive Briefing stats for May
Consumer Intentions & Actions Survey monitors over 8,000 consumers each month providing unique insights & identifying opportunities in a fragmented and transitory marketplace. From the report, some insights on the economy: "The combination of waning support for Bush, gas price woes, and continuing conflict in the Middle East translates in May to a dip in consumer confidence....this month, those very confident/confident in chances for a strong economy falls to 38.6% from 44.5% last month and 42.5% last year, and a new low for 2006. It doesn't look like possible nuclear weapon development in Iran has increased consumers' concerns over political and national security issues in May...18.6% continue to worry, a 2 point decline from April (20.5%). Declining confidence generally leads to increased practicality, but in May, slightly fewer consumers - perhaps over the initial gas price "shock" - contend they've become more practical in the last six months...40.9% now indicate so, about a point decline from last month (42.3%), however still a 3 point increase from 2005 (38.0%). In the same fashion, slightly fewer consumers contend they are concerned with needs over wants...49.3% in May from 50.0% in April, yet still an increase over last year (45.9%)." (source: BigResearch)
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| HD Radio |
 RadioShack rolling out
HD receivers in pilot launch
HD Digital Radio Alliance announced the consumer electronics retailer is immediately launching a pilot program in several major markets as a prelude to a national roll-out later this year. More than 100 RadioShack stores in the Dallas/Fort Worth area are now stocking HD Digital Radio receivers for the pilot launch, as are several dozen additional stores in New York City, Los Angeles, Chicago, Philadelphia, Houston and Washington, D.C. RadioShack stores in the pilot program will initially carry the table top Boston Acoustics Recepter Radio HD priced at 299.99, with the plan to add exclusive RadioShack receivers in September when the pilot expands nationally. Customers will be exposed to in-store, online and point-of-purchase educational support backed with comprehensive employee training and customized advertising running on all HD Digital Radio Alliance-member stations directing customers to shop at RadioShack for their HD Radio needs. RS will also feature demos in its pilot stores.
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| Monday Morning Makers & Shakers |
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Transactions: 3/27/06-3/31/06
The fact that the total value of deals filed at the FCC during the last week of March broke 10M is amazing when you realize that station volume was measured in single digits, and only one station was in even a small rated market. NextMedia's Oklahoma deal (see below) accounted for over half of the cash exchanged.
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Total
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Total Deals
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6
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AMs
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3
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FMs
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6
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TVs
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0
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| Value |
12.038M
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| Complete Charts |
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Radio Transactions of the Week
NextMedia cashes out of Ardmore
| More... |
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TV Transactions of the Week
TV trading picks up in Q2; this is still Q1 |
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| Transactions |
17.5M KGDQ-FM Colorado Springs CO from Superior Broadcasting of Denver LLC (Bruce Buzil et al) to Bustos Medoa of Colorado License LLC, a subsidiary of Bustos Media LLC (Amador S. Bustos et al). At closing, buyer will pay seller's senior credit facility up to 17.5M and if less, will pay difference to seller. LMA until closing. [File date 4/21/06.]
5.6M KFTA-TV Fort Smith-Fayetteville-Springdale-Rogers AR (Fort Smith AR) from Nexstar Broadcasting Inc. (Perry Sook) to Mission Broadcasting Inc. (David Smith). Cash. Will remain in JSA/SSA with seller, operated in-market with KNWA-TV Rogers and in-state with KARK-TV Little Rock. All are NBC affiliates. KFTA-TV is on Ch. 24/DT 27; KNWA-TV is on Ch. 51/DT 50; KARK-TV is on Ch. 4/DT 32. [File date 4/18/06.]
0 KHRE-FM CP Hereford TX from Abundant Life Broadcasting (Tamara Durham) to American Family Association (Donald E. Wildmon). Transferred for buyer to build & operate. CP is for Class A on 90.9 mHz with 250 w @ 147'. [File date 4/20/06.]
0 KSPF-FM CP Rapid City SD (Spearfish SD) from Optimum Impact INc. (Patricia Richardson) to American Family Association (Donald E. Wildmon). Transferred for buyer to build & operate. Notes CP is for Class A on 90.9 mHz with 100 w @ 420'. [File date 4/20/06.]
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| Stock Talk |
Inflation spooks the market again
Inflation fears, which could cause the Fed to keep on raising rates, sent stocks lower on Friday. The Dow Industrials fell 120 points, or 1%, to close at 11,381.
Radio stocks joined in the decline, pretty much across the board. The Radio Index dropped 1.246, or 0.8%, to 158.824. Cumulus dropped 3.5%. Radio One's Class A stock fell 2.3% and Class D 2.2%.
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| Radio Stocks |
Here's how stocks fared on Friday
| Company |
Symbol |
Close |
Change |
Company |
Symbol |
Close |
Change |
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Arbitron
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ARB
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37.41
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+1.06
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Hearst-Argyle
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HTV
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22.87
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-0.09
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Beasley
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BBGI
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7.66
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-0.14
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Journal Comm.
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JRN
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11.87
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-0.03
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| CBS CI. B |
CBS |
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25.66
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-0.26
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Lincoln Natl.
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LNC
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57.24
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-0.23
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| CBS CI. A |
CBSa |
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25.69
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-0.25
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Radio One, Cl. A
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ROIA
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8.04
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-0.19
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| Citadel |
CDL |
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10.43 |
+0.06 |
Radio One, Cl. D
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ROIAK
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8.06
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-0.18
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Clear Channel
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CCU
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29.75
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-0.06
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Regent
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RGCI
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4.20
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unch
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Cox Radio
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CXR
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14.60
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-0.19
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Saga Commun.
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SGA
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9.26
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-0.08
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Cumulus
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CMLS
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10.97
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-0.40
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Salem Comm.
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SALM
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14.87
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-0.07
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Disney
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DIS
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29.90
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+0.10
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Sirius Sat. Radio
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SIRI
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4.34
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-0.08
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Emmis
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EMMS
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16.18
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-0.02
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Spanish Bcg.
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SBSA
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5.36
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-0.05
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| Entercom |
ETM
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28.21
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-0.49
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Univision
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UVN
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35.92
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+0.30
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Entravision
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EVC
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8.50
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-0.01
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Westwood One
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WON
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9.00
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-0.09
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Fisher
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FSCI
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42.31
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-0.06
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XM Sat. Radio
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XMSR
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17.09
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-0.05
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Gaylord
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GET
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45.51
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-1.19
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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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Ad Business Report
Emmis Revenue
Development Systems
Creates Sports Marketing Division full service agency...
Retailers expand support
For HD Digital Radio with campaigns...
Media Markets & Money
Sixth state for Robinson
Entravision Communications is spinning off an Arizona FM...
Washington Media Business Report
Whoa, there, fella
A pending deal will allow NBC/Telemundo to get into the Phoenix market by swapping...
Internet Media Business Report
Gannett buys Planet Discover
To power local search as Technology waits for No One...
HD Radio
RadioShack rolling out
Receivers in pilot launch...
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More News Headlines
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Congressional
candidates continue
to rake it in
What would be going on if they hadn't passed campaign financing reform? As we sit almost half a year away from Election Day, candidates for the US Congress are sitting on over half a billion dollars, over than 100M more than they had at this point in the 2004 election cycle. The 522.3M cash on hand total includes money carried over from the last cycle, and receipts of 657.2M. The campaigns have already spent 330.4M. The Federal Election Commission breaks it down. Looking at cash on hand, Democrat Senate candidates hold the high ground, with 114.2M to the Republicans' 86.1M Among Democrats, incumbents hold 86.6M, those challenging Republican incumbents have 18.5M and those vying for open seats have 9.1M. For the Republicans, the numbers respectively are 62.1M, 11.9M and 12.1M. On the House side, the Republican edge in incumbents tells the tale. Republicans hold an overall ready cash advantage of 175.4M to 144.3M. Republican incumbents control 155.2M, challengers 6.7M and open-seat contestants 13.5M. Democratic respective breakdowns are 108.1M, 23.1M and 13.1M.
RBR observation: All boats have been floated, but the big unanswered increases are in the bank accounts of Democratic challengers. That category in Senate races has gone from 3.4M in 2004 to 18.5M, and from 7.6M to 23.1M in House races. By contrast, Republican challengers have gone from 9.7M to 11.9M for the Senate and actually lost ground, from 7.6M to 6.7M in House races. The political category figures to be white hot and the benefits figure to be much more geographically diverse than 2004's battleground-focused contest. The special focus on the House of Representatives also figures to help bring radio stations strongly into the political media mix.
A snapshot of
the latest spot loads
CC Radio's Less is More initiative is still proving to offer some of the lowest spot loads on stations across the country. See the numbers from most commercial broadcasters, market by market, station by station via MediaMonitors data.
| See It Here |
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RBR Radar 2006
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Radio News you won't read any where else. RBR--First, Accurate, and Independently Owned.
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Spitzer strikes again
in anti-payola crusade
Universal Music Group (UMG), the largest record label of all, is the third to settle with New York Attorney General Eliot Spitzer over what he claims are "pervasive 'pay-for-play' practices" in the radio industry. UMG has agreed to make a 12 million bucks payment to be distributed to some of Spitzer's designated charities in New York.
RBR observation: What a shakedown artist! Eliot Spitzer, candidate for Governor of New York, gets to look the hero by distributing 27 million bucks, so far, to music charities in his state - and none of it counts as a contribution to his campaign. Meanwhile, hundreds of radio stations nationwide have been denied perfectly legal and legitimate promotional support from record labels because Spitzer has bullied them to make these settlements and accept his flawed interpretation of the federal payola law.
05/12/06 RBR #94
Billboard's owner warns that
Top brass are ready to walk
VNU, the parent company of Nielsen Media Research and such US trade publications as Billboard, The Hollywood Reporter and Adweek, issued a statement yesterday reiterating that most, if not all, of its Executive and Supervisory Board members will quit if the takeover bid by a group of equity firms is not approved.
RBR observation: As we said before, this one is going down to the wire. It is pretty much a given that the company's name will be changed and the headquarters moved to New York, since most of the operations are in the US and most of the revenues come from the US. It is definite that a new CEO will be taking over. The real question to be decided on May 19th is whether it will become a privately-owned company or continue to have publicly-traded stock.
05/12/06 RBR #94
On online ad auction test
Get to understand this quickly
Wal-Mart VP/Marketing Communications Julie Roehm spoke to RBR/TVBR regarding the RFP and call for an online auction system to buy and sell TV ads unveiled at the ANA Management Conference. The whole idea of an online ad buying/auction system - does it cut out any function of the media agency?
RBR observation: Better understand this method of business because it is coming to the media business quickly. RBR has been pounding hard on this phrase and it is reality, 'Technology Waits For No One.' 05/11/06 RBR #93
The Debate Continues; Less Clear Channel is More for radio
It is sad to see people, like Scott Winchell, who can get so brainwashed by the powers that be at Clear Channel. Like I stated in my original commentary, "there is nothing wrong with being progressive in an ever-changing world." However, what Mr. Winchell doesn't realize is that Clear Channel's primary objective is to satisfy Wall Street and its stock holders. Read if you have a bounce back send along and Share in the Voice.
05/10/06 RBR #92
California legislator targets
junk food ads
A bill which would attempt to tie audience demographics to alcohol advertising, is back with one of her own. This time the target is makers of nutritionally-challenged food blamed for the state's childhood obesity program. A tax on TV ads for such food is part of the bill.
RBR observation: Is there any ill in America for which TV is not to blame? But keep your helmets on but not strapped to tight.
05/10/06 RBR #92
Smulyan is saying bye-bye
to Wall Street pressures
There had been widespread speculation that if Jeff Smulyan didn't win the bidding for the Washington Nationals baseball team, he might turn his personal resources toward taking Emmis Communications private. Sure enough, the Nationals were sold to another bidder last week and before the stock market opened on Monday, Smulyan had announced a bid to buy out Emmis' public shareholders. Smulyan's offer is to buy the 83% of Emmis' stock that he doesn't already own for 15.25 per share.
RBR observation: Smulyan is not saying how he will fund the nearly half-billion dollars stock buy. He does not have to that is the beauty of being a private company. His announcement did say that his new company is getting financial advice from The Blackstone Group, Banc of America Securities and Deutsche Bank Securities. Its legal advisor is Paul, Weiss, Rifkind, Wharton & Garrison. So, who's next? In the depressing Wall Street environment that they have had to endure for the past couple of years, no doubt nearly every public broadcasting group CEO would love to be able to take his/her company private and escape The Street's quarter-to-quarter scrutiny and demands. Most likely candidates are Hearst-Argyle Television and Cox Radio, whose majority shareholders, Hearst Corp. and Cox Enterprises, respectively have ready access to plenty of cash to do such a deal.
05/09/06 RBR #91
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