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Obviously Dave Dennis was speaking tongue in cheek when he suggests that Newsweek Magazine be fined for their shameful printing of the false story about the flushing of the Koran at Guantanamo (5/18/05 TVBR #98). They have done unbelievable damage to the United States as well as to the credibility of their magazine. Advertisers and subscribers have the capability to punish them economically in the marketplace if they choose to do so. CBS News has been suitably punished by the viewers. Fortunately the press still enjoys first amendment protection because the Constitution specifically guarantees freedom of the press. That freedom was seldom compromised until John McCain's campaign financing reform, with the support of the courts, muzzled political campaigns. (The courts are another issue.) Unfortunately radio and television had not been invented when the US Constitution was written. There is no Constitutional guarantee of freedom of the airwaves. As a result there have been many abuses like the Fairness Doctrine and many other abridgements of freedom of speech imposed upon radio and television. It would be wonderful if we had complete freedom of speech on radio and TV. It would also be wonderful if those who hold radio and TV licenses were ethical and responsible stewards so regulation would be unnecessary. The real world falls short of those ideals. We all knew when we acquired broadcast licenses that it is a regulated industry.

Jay Austin
KIOD / KSWN
McCook, Nebraska

Manager rises
in Phoenix
Clear Channel Radio announced the appointment of Joe Puglise to Market Manager, Phoenix, AZ. Puglise will oversee eight radio stations, the Total Traffic Network, integrated marketing and web operation. He had been VP/Market Manager in Wilmington, DE.

Mason, Joyner swap stations
in Detroit

DC Talker Michael Graham protest outside Newsweek offices

Foundation golf tourney sold out

Mercury Award finalists named

CBS announces
2005-2006 primetime schedule
CBS, projected to be the most-watched network among total viewers this season, unveiled a new lineup yesterday of crime dramas and supernatural thrillers to further ratchet-up its appeal to younger viewers. The Tiffany Network introduced six new series at its upfront presentation in NYC, including a sci-fi adventure, a suspense thriller, a paranormal drama with an emotional twist, a Jerry Bruckheimer crime drama set in the suburbs and two ensemble comedies. The freshmen series are Threshold, Criminal Minds, Ghost Whisperer, Close to Home, How I Met Your Mother and Out of Practice. And, no surprises here: CBS will return The King of Queens, CSI, Two and a Half Men, 60 Minutes, Survivor, The Amazing Race and 10 other primetime programs and entertainment series. Cancelled shows included 60 Minutes II (see related story), Judging Amy, Joan of Arcadia, the Jason Alexander comedy "Listen Up" and the long-running military drama "JAG."| See the full schedule | and new program descriptions.

Emmis under review, why?
Taking on debt to buy back up to 39% of its own stock (before an expected sale of its TV group), Moody's Investors Service has placed the company's credit ratings under review for a possible downgrade. notes that the stock buyback will likely increase Emmis' debt leverage to more than eight times EBITDA. Moody's will conclude the review "when there is greater visibility into the company's future capital structure."
RBR observation: The best we can figure is that Smulyan wants to act on the stock buyback now because waiting until after the TV sale many months hence could let the company's stock price creep back up to where the buyback could not find takers below the cap of 19.75 a share. Yes, that will raise leverage temporarily, but step two will bring it way down, since the TV sale is likely to bring in about three times the 400 million that Emmis will be spending on the stock buyback. For Moody's review see 05/18/05 RBR #98

Use in Local sales - Newspaper circulation worst since 1996
Two years ago search engines were not viewed as much of a threat, (but) over the past year newspapers have recognized their effect." In reporting the latest data according to the Audit Bureau of Circulations, concludes that the threat is real. Daily US newspaper circulation dropped 1.9% in the six-month period ending 3/31, which was the largest decline since 1995-1996, when circulation fell nearly 2.1%. Sunday circulation declined 2.5% over the last six months, compared with the same period a year ago. RBR observation: Print this chart out as it is good with you local sales to make a point that your newspaper is just for the bottom of the birdcage. The Chart backs it up. 05/18/05 RBR #98

XM hits 4M subscriber mark
Someone bought and activated the four millionth XM Satellite Radio receiver now in operation. CEO Hugh Panero noted that it took 23 months from launch for XM to reach one million subs. The move from three million to four million took less than five months. XM says it remains committed to hitting its target of 5.5 million by the end of 2005. Meanwhile, rival Sirius was at 1.1 million subscribers at the end of Q1 and projecting that it would hit 2.7 million by year's end.
05/17/05 RBR #97

RBR observation:
What's at stake at Univision
If you're wondering what's up with Televisa suing Univision for 1.5 million bucks rest assured it's not about the greenbacks. The legal bills alone will probably run well over that for both companies. Univision last year paid 170 million in royalties to its two big foreign program providers, Mexico's Televisa and Venezuela's Venevision, both of which are major shareholders of Univision as well. 05/17/05 RBR #97

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