Net Loss Dip, But Earnings Slip For Cumulus in Q1
For Cumulus Media, the first three months of 2024 brought some relief: Its net loss declined. But the company's adjusted EBITDA also fell, as its revenue also fell, coming in just shy of a consensus estimate based on the input of two analysts who track the company led by Mary Berner.
Fubo Shares Slide As Net Loss Lowers For vMVPD
Sports-first virtual MVPD Fubo successfully trimmed its massive debt in Q1 2024. However, even with a revenue beat, investors in the 10am Eastern hour began to sell off shares in droves after an early bump in value. Could bigger concerns be at play for those with Fubo stock?
Longtime Katz Television Head Leo MacCourtney To Retire
He was named President of the Katz Media Group entity in 2012 and has served in various high-profile television industry roles across 50 years. His last day is scheduled for June 30, at which time the individual serving as Chief Operating Officer for the past 12 years will succeed MacCourtney.
Linear TV’s Ad Dollar Vacuum? It’s Zuckerberg’s Baby
With Meta presenting Thursday afternoon at the NewFronts, the Mark Zuckerberg-founded parent of Facebook, Instagram and Whatsapp is poised to attract marketers galore. A just-released WARC report indicates Meta is now the biggest dollar-for-dollar competitor with TV.
Consumer Media Usage Flatlines In 2023
Digital and traditional media channel consumption across the world’s 20 largest markets and the rest of the countries in the four major global regions grew by just 0.3% in 2023 to an average of 56.2 hours per week, according to PQ Media. This marks a sharp deceleration for growth.
Nexstar Shifts The CW To Three O&Os, With Detroit In Limbo
Nexstar Media Group on Wednesday shared where The CW Network will be moving to in two of the seven markets where The E.W. Scripps Co. announced on April 19 it would be discontinuing affiliations as of August 31. But, it gave no hints as to what will happen in the Motor City.
After Many Tries, Cumulus Capital Structure Refinanced
One big task for Cumulus Media in the first half of 2024 was to push its 2026 debt maturity wall out by three years. This required debtholder approval of a plan to swap new debt for old debt, at a 60-cent per dollar discount. After several attempts, "Plan B" was put forth. That proved to be the charm.
‘Say On Pay’ Vote Neuters Cumulus Exec Salary Plan
It doesn't happen very often, but the shareholders of Cumulus Media have successfully blocked an executive compensation plan at an annual general meeting convened by the company — another sign that the company has a mountain to climb as it pushes millions in debt repayments to 2029.
Expenses, Impairment Charge Hurt Entravision In Q1
On March 4, Entravision Communications received word from Meta that it intends to wind down its authorized sales partner (ASP) program globally and end its relationship with all of its ASPs by July 1. With a significant revenue loss pending, how did the company fare in Q1?
Who Will Win a Medallas de Cortez Award in 2024?
Streamline Publishing's Radio Ink and the Radio + Television Business Report are pleased to announce the finalists for the prestigious 2024 Medallas de Cortez awards. The Medallas de Cortez awards recognize excellence in Hispanic radio programming, sales and management.
Badger Sharing Comes For iHeartMedia, Good Karma Brands
The University of Wisconsin Athletics Department has confirmed an extended partnership with iHeartMedia Wisconsin and has brought on Good Karma Brands as a new radio broadcast partner through agreements facilitated by Badger Sports Properties.
Key House GOP Members To Query NPR Head On Bias
On April 30, Sen. Ted Cruz sent a letter to the Corporation for Public Broadcasting’s President/CEO querying about “taxpayer-funded” NPR’s reporting. Cruz believes NPR is heavily biased to liberal viewpoints. So do key House E&C Committee Republicans, who wrote to NPR's CEO seeking answers.
Beasley Media Group Finalizing Its Q1 2024 Report
The broadcast radio station ownership group led by Caroline Beasley and CFO Marie Tedesco has announced when it will reveal its first quarter 2024 financial report. And, it will arrive on a busy day for analysts, with TEGNA and Sinclair Inc. also releasing their Q1 results.
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Radio By Grace’s WYZE Choice In Georgia
A broadcast ministry overseen by President William Gehm has signed off on the sale of a pair of FM translators, one in Atlanta and the other in Rockmart, Ga. But, Radio By Grace will still very much be involved in the operation of the LPFM serving Georgia's largest metropolitan area.
Ad Revenue Gain Can’t Help Big Revenue Dip For Bell Media
Ad revenue for the BCE Inc. unit was up 1.6%, thanks largely to "strong growth in digital advertising and improved out-of-home and radio performance," in addition to Super Bowl LVIII ads tied to the game's coverage in Canada on CTV. Yet, overall media operating revenue sharply declined.
Allen Media Group Addresses RIF Chatter
"Strategic changes" are underway at the broadcast and cable media company owned by Byron Allen, resulting in a reduction-in-force initiative, RBR+TVBR has confirmed.
The InFOCUS Podcast, NewFronts Edition: LATV
LatiNation Media CEO Andrés Palencia and President Bruno Ulloa sit in on the InFOCUS Podcast, presented by dot.FM, to share more about GenZ and Millennial-focused LATV and what was delivered to marketers at a Wednesday IAB NewFronts presentation in New York.
Beware The Pitfalls of Trite Phrases
So why do we feel the need to announce the absence of further ado? This trope is one of seven tired phrases that can affect the overall impact of your messages, public speaking expert Rosemary Ravinal writes in this column.
Nielsen: Asian Americans Overindex On AVOD
While streaming is undoubtedly the leading platform to connect with Asian American, Native Hawaiian and Pacific Islander audiences, the use of devices widely varies. Viewership of TV-connected devices outpaces traditional live TV by more than an hour and a half a week.
VAB Tackles Marketers’ Lingering Ad Fraud Fears
How aware and worried are marketers about digital ad fraud? The Video Advertising Bureau (VAB) investigated that question and presents its findings in a newly released report produced with the help of Advertiser Perceptions.
DBS Providers, Fubo Want Congressional Hearing On ‘Hulu For Sports’
The nation's two direct broadcast satellite service providers, in addition to vMVPD Fubo, conservative-leaning cable network Newsmax, and four public interest groups have written to Congressional leaders seeking multiple hearings on the future of competition in pay TV.
Televisa Taps Synamedia to Overhaul Mexican Broadcast Distribution
TelevisaUnivision is now using Synamedia’s Media Edge Gateway (MEG) and PowerVu solutions to overhaul its broadcast distribution throughout its network of Televisa stations, spanning 180 stations across Mexico.
Samsung Brings the Big Screen to the Editing Room
Samsung Electronics has opened the doors to a Los Angeles-based theatrical post-production studio that serves as an addition to Amazon’s portfolio of production and entertainment businesses, further enhancing the area’s reputation as a hub for creativity and innovation.
Broadcast Supply Worldwide Brings Mixing Consoles Stateside
Broadcast audio company Telos Alliance has reached a domestic distribution agreement for Axia-branded AoIP broadcast mixing consoles. They're now available across the U.S. via an arrangement with Broadcast Supply Worldwide.
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