Emmis Communications Corporation

by Mia Kuhn

The Emmis Comunications Corporation’s logo. Image courtesy of Emmis Communications.

Address: One Emmis Plaza
            40 Monument Circle, Suite 700
Indianapolis, Indiana 46204
E-mail: IR@emmis.com
Phone: 317.266.0100

Website: emmis.com


As the 9th largest radio group in the United States, Emmis Communications Corporation (NASDAQ: EMMS) owns and runs several magazine and radio systems. Emmis operates on the medium to large scale for its market size and has been formally acknowledged as the Most Respected Radio Company in a poll by some of the industry’s leading CEOs. [1]

Company Overview:

New York City’s source for all things Hip-Hop. “Where Hip-Hop Lives.” Image courtesy of WQHT-FM.

Emmis has been evolving since 1979 when Jeff Smulyan and a couple others bought WSVL in Shelbyville, Indiana. One purchase after another, the company has accumulated properties to build what is now a global enterprise with stations from Austin, Texas and St. Louis, Missouri to Hungary, Slovakia, and Bulgaria. Emmis went public in 1994 and now holds ownership over some of the nation’s largest markets, such as New York City’s WQHT-FM (Hot 97) and Los Angeles’s KPWR-FM (Power 106). [2]

As one of the best places to work in Indiana 2012, Emmis stands for a conducive working environment while it also maintains reputable radio, publishing, digital, social impact, and TagStation® and NextRadio™ operations. The company has embodied a definitive “Emmis  culture,” where they believe in risk-taking and positive guidance of employees in order to get innovative and creative outcomes while having fun.

Emmis Communications Corportation was voted one of the best places to work in Indiana in 2012. Image courtesy of emmis.com.

Corporate Philosophy (1 being most important):

  1. Take care of your audiences and advertisers – think of them and you’ll win.
  2. Be passionate about what you do and compassionate about how you do it.
  3. Be good to your people – get them into the game and give them a piece of the pie.
  4. Never jeopardize your integrity – we win the right way or we don’t win at all
  5. Believe in yourself – if you think you can make it happen, you will. [3]
Despite the radio industry weakening with the emergence of online radio presence and more popular news and music acquiring devices, Emmis proceeds to shed positive light on the matter by embracing its corporate philosophy. The corporation’s administration is currently following its eleven commandments to create new and interesting projects.

“Great media. Great People. Great Service.” Screenshot of a graphic of Emmis Communications Corporation’s logline from emmis.com.


Board of Directors:

Jeff Smulyan, Chairman of Board, President, and CEO of Emmis Communications. Image courtesy of emmis.com.

Jeff Smulyan is the Chairman of the Board and CEO of Emmis Communications. He graduated cum laude with a B.A. in Telecommunications and History from University of Southern California. Smulyan’s education propelled him into radio. He managed a station in Indianapolis and Omaha prior to forming Emmis in 1980. Smulyan has held several high-esteemed positions in the radio field; he is the former director of the National Association of Broadcasters, former Chairman of the Board of Directors of the Radio Advertising Bureau, and past chair of the Central Indiana Corporate Partnership. [4]

Patrick Walsh, EVP, CFO, and COO of Emmis Communications. Image courtesy of emmis.com.

Patrick Walsh has been the Executive Vice President, Chief Financial Officer, and Chief Operating Officer of Emmis Communications since 2006. Walsh earned a degree in business from the University of Michigan and gained much of his experience from being the CFO and Senior Vice President at iBiquity Digital Corporation. [5]

Company Officers (In addition to Jeff Smulyan and Patrick Walsh):

  • Rick Cummings –  President of Programming for Emmis Radio
  • Scott Enright –  Executive Vice President and General Counsel
  • Greg Loewen –  President of Publishing and Chief Strategy Officer
  • Paul Brenner –  Senior Vice President – Chief Technology Officer
  • Ian D. Arnold – Vice President, Associate General Counsel and Assistant Secretary
  • Ryan A. Hornaday –  Senior Vice President of Finance and Treasurer
  • Valerie C. Maki –  Senior Vice President – Emmis Radio Division, Los Angeles Market Manager
  • Deborah Paul – Executive Vice President – Editorial Director – Publishing
  • Traci L. Thomson – Vice President of Human Resources

Board of Directors:

  • Susan Bayh – Visiting Professor, Butler University
  • Gary Kassef – Former Executive Vice President and General Counsel
  • Richard Leventhal – President & Majority Owner of LMCS, LLC.
  • Peter Lund – Media Consultant and former President & CEO of CBS Television
  • Greg Nathanson – Former Television Division President
  • Lawrence Sorrel – Tailwind Capital Partners

Other Key Executives

  • Angie May Cook – Vice President, Emmis Digital
  • Sarah Harris – Founder, Incite
  • Alexandra Cameron – Senior Vice President, Emmis Radio Division; New York Market Manager
  • Amy Saralegui – Vice President/Group Publisher, National Sales, Emmis Publishing [6]


Most Recent Financial Data:

A press release from October 12, 2012 describes Emmis Communication’s second quarter as being negatively impacted by “station divestitures.” The past year illustrates net revenue for the second fiscal quarter increased 1 percent, from $54.4 million to $55.0 million.  Pro forma radio net revenues increased 2 percent, from $41.4 million to $42.0 million. This growth in radio revenues exceeded market revenue growth in the quarter, which was less than 1 percent. The Motley Fool nasdaq report card contains the most recent analysis and assessments of NASDAQ:EMMS. [7]

Emmis Communications Corporation notes solid growth in second quarter pro forma revenue growth. This table reconciles reported results (dollars are in thousands). Image courtesy of emmis.com.

Emmis Communications also has a more detailed and consolidated version of their second quarter Financial Data and Subsidiaries Report available for viewing.

Emmis Communications- Class A (EMMS) Snapshot. Screenshot courtesy of investing.businessweek.com.


With the radio industry already struggling with the emergence of MP3s, Internet radio, and specializing radio services, it doesn’t help Emmis Communications that it has to compete against bigger radio corporations. The company’s top three competitors are Clear Channel Communication, Inc., Citadel Broadcasting Corporation, which was bought by Cumulus Media, and CBS Radio Inc. [8]

Companies financially relative to Emmis Communications. Screenshot courtesy of Google NASDAQ data.


Emmis Radio:

August 22, 2012, Emmis Communications’ Terre Haute, Indiana sector signed an agreement to add an ESPN brand station, WSDM-FM, to its collection. It also managed to acquire WSDX-AM. Both of these stations were signed over by Crossroads Investments LLC. Both groups also signed a Local Programming and Marketing Agreement (LMA) that allowed Emmis-Terre Haute to organize and sell advertising on the stations. This agreement went active Septembers 1, 2012. [9]

WIBC, 93.1 FM, Indy’s News Center. Image Courtesy of WIBC and Emmis Communications.

On November 17, 2012, Emmis bought an Indianapolis- area translator for $375,000 from Kaspar Broadcasting, Co., Inc. The official document filed with the FCC stated the new acquisition will rebroadcast Talk WIBC, Indianapolis. [10]

In addition to these recently acquired stations, Emmis currently has these FM and AM stations nationally and internationally –

Austin, Texas

KGSR-FM (93.3)

KLBJ-AM (590)

KLBJ-FM (93.7)

KROX-FM (101.5)

Comedy 102.7


KBPA-FM (103.5 BOB)

St. Louis, Missouri


KPNT-FM (105.7 The Point)

KFTK-FM (FM NewsTalk 97.1)

KHIT-FM (K-Hits 95)

Indianapolis, Indiana

WLHK-FM (97.1 Hank FM)

WIBC-FM (93.1 FM)

WFNI-AM (1070 The Fan)

WYXB-FM (105.7 FM)

Network Indiana


WTHI-FM (99.9 FM)

WWVR-FM (105.5 FM)

WFNF-AM (1130 The Fan)


X Radio Expres


Radio Star FM

Radio FM+

Radio Fresh [11]

Emmis Publishing:

Screenshot of “Los Angeles Magazine” graphic. Image courtesy of www.lamag.com.

Emmis currently has publications in California, Georgia, Ohio, Indiana, and Texas. The corporation has been involved magazine publication since 1988 and is currently operating 6 different magazines. In California, “Orange Coast” and “Los Angeles Magazine” in Georgia, “Atlanta“, in Ohio “Cincinatti” , in Indianapolis, “Indianapolis Monthly“, and in Texas, “Texas Monthly“. [12]

December 2012 Issue of Los Angeles Magazine. Screenshot courtesy of www.lamag.com.

Features of December 2012’s issue of “Los Angeles Magazine” include winter escapes, a holiday gift guide, and seasonal delicacies. The magazine concentrates on providing consumers information on what’s best in LA. From “The Guide” giving the 30 best places to go this month to what films are must see. [13]

Emmis Digital:

Emmis is keeping track of their mentions using the Twitter handle of @EmmisDigital. This sector is strictly social media content. Emmis is also present on Facebook. [14]

Emmis Communications Applications:

October 4, 2012, Emmis Interactive was sold to Marketron in order to provide Emmis Communications Corporation the ability to maximize commercialization of its FM/Analog Radio Smartphone application. Although Emmis sold their property, they still proceed to work with Marketron Interactive on their future developments and distributions of the renowned Digital Suite of software and services. These deluxe systems include BaseStation®, GeoStation® and Guidable™.  Emmis Communications remains a primary customer of Marketron and will gain a portion of its economic successes. [15]

NextRadio is the future of smartphone radio reception for Emmis Communications. Screenshot courtesy of www.tagstation.com.

As of November 28, 2012, the new HD radio application called NextRadio™ was in the final steps of beta testing, according to Emmis. The corporation intends on marketing NextRadio™ to wireless carriers so consumers can listen to live and local radio without having to absorb their data plans. Emmis Communications Corporation continues to build their current TagStation® application and have high hopes for a successful launch of the NextRadio™ service. [16] [17]



[1] Who We Are: About Emmis Communications,  http://www.emmis.com/who-we-are

[2] Who We Are: The Emmis Story, http://www.emmis.com/who-we-are/history.aspx

[3] The Eleven Commandments of Emmis Communications, http://www.emmis.com/who-we-are/eleven-commandments.aspx

[4] Jeff Smulyan, Chairman, President, & CEO, http://www.emmis.com/who-we-are/executives/smulyan.aspx

[5] Patrick Walsh, EVP/CFO/COO, http://www.emmis.com/who-we-are/executives/walsh.aspx

[6] Executives, http://www.emmis.com/who-we-are/executives.aspx

[7] Emmis Communications Reports Solid Second Quarter Pro Forma Revenue Growth, http://www.emmis.com/press/story.aspx?ID=1790065

[8] Top Competitors for Emmis Communications Corporation, http://www.hoovers.com/company-information/cs/competition.Emmis_Communications_Corporation.4eb71fc85d36c170.html

[9] Emmis -Terre Haute to Acquire WSDM-FM/WSDX-AM, http://www.prnewswire.com/news-releases/emmis-terre-haute-to-acquire-wsdm-fmwsdx-am-emmis-terre-haute-moves-into-new-facility-167040985.html

[10] Emmis Buys Indianapolis-Area Translator, http://www.allaccess.com/net-news/archive/story/112695/emmis-buys-indianapolis-area-translator

[11] Emmis Radio, http://www.emmis.com/what-we-do/radio/

[12] Emmis Publishing, http://www.emmis.com/what-we-do/publishing/

[13] Los Angeles Magazine, December 2012, http://www.lamag.com/toc/2012/11/21/december-2012

[14] Emmis Digital, http://www.emmisdigital.com/

[15] Emmis Sells Emmis Interactive to Marketron, http://finance.yahoo.com/news/emmis-sells-emmis-interactive-marketron-160100094.html

[16] New App For HD Radio in Smartphones Now in Final Beta Tests, http://consumerelectronicsdaily.com/Content/nextradio-app-will-enable-hd-radio-reception-in-smartphones-next-year-emmis-says.aspx

[17] What’s Next? Emmis Preparing for NextRadio™ for Smartphone Introduction in 2013, http://www.emmis.com/press/story.aspx?ID=1812333

Buckley Radio

by Ben Aaron

Contact Buckley Radio:

166 West Putnam Ave.
Greenwich, CT 06830
Phone: (203) 661-4307


Buckley Broadcast Group (or Buckley Radio) is a privately-owned company that operates about 18 radio stations in New York, Connecticut and California. The company also owns the WOR Radio Network, which independently produces and distributes syndicated radio programming to about 390 affiliated stations through WOR 710, its historically successful flagship news/talk station. [1]

Station List:

New York

  • WOR and the WOR Radio Network (Based in NYC, both are in the process of being sold to Clear Channel)
  • WFBL and WSEN – Syracuse (sale pending to Leatherstocking Media Group)



  • KLLY
  • KKBB
  • KNZR
  • KSMJ
  • KWAV
  • KIDD
  • KYZZ
  • KUBB
  • KHTN
  • KSEQ


Buckley Broadcasting was founded in 1956 by Richard Dimes Buckley. The company operated modestly, acquiring a few properties for its first few years, until Buckley’s son took over as President in 1972. His father had a strong influence on him both in business strategy and in the commitment to keep the business family-owned and operated. Stations in small and medium-sized markets like Hartford, CT and Fresno, CA (Q97 and WDRC) have remained the company’s focus. Buckley owns several of some of the United States’ oldest radio stations, including WDRC 102.9 and WOR 710.

WFBL Syracuse was the first station to receive an FCC license, and WOR 710 has remained one of New York’s most succesful talk radio stations since it became the first NYC-based station in 1922. Buckley purchased WOR in 1989, keeping almost its entire format the same while changing a few personalities. Then-president Richard Buckley refused offers to sell multiple stations including WOR and its nearly one million listeners.

After Buckley’s passing, current CEO Joe Bilotta sold WOR 710, and the WOR Radio Network with it, to Clear Channel Communications. It marks the sale of Buckley’s most popular and profitable station, which is reportedly causing people to anticipate the total dissolution of the company. [2]

WOR 710 Personalities:

Joan Hamburg                                                     Gov. David Paterson

                   Joe Bartlett                                                               Dr. Joy Browne


              Mike Gallagher                                                           The Frommers

               Dave Ramsey                                                         Dottie Herman


The stations owned by Buckley Radio cover seven markets ranging from relatively small (those in Connecticut and parts of Fresno) to the large NYC market reached by WOR. Programming distributed by the WOR Radio Network includes The Frommers, Top 40 charts, and Warren Eckstein.
The sale of WOR to Clear Channel is ongoing and expected to end by Jan. 2013. Buckley and Clear Channel have long been competitors in the California, Connecticut and New York markets, and WOR 710 will be Clear Channel’s sixth station in New York, and one of the nearly 900 properties owned by Clear Channel. The station is expected to see a dramatic ratings increase with the implementation of Clear Channel-owned programming like Sean Hannity and Rush Limbaugh, causing investors to worry that Buckley will not be able to come back after losing its biggest property.


As president of Buckley Broadcasting for nearly 40 years, Richard Buckley worked extensively in the broadcast industry and received numerous accolades. He served as President of several Buckley-owned California stations for a number of years, and temporarily served as the music director for WNEW-AM. He was named one of Radio Ink’s 40 Most Powerful to being inducted into the New York State Broadcaster’s Associate in June 2011. Buckley unfortunately passed from a brain embolism a month later. Joe Bilotta was immediately promoted from Chief Operating Officer to President and Chief Executive Officer, and issued a statement.

Said Bilotta, “It is with a deep and profound sadness that I must inform you that early Sunday morning, Rick Buckley passed away… He led the company that bears his name for over 4 decades and did so in a style and manner that reflected the family nature of his business. He loved Radio, loved his company and cared deeply for all of his employees.” [3] 

Bilotta has extensive experience in the broadcast industry. He’s on the National Broadcasters Association’s Board of Directors, and serves on the Executive Committee for the Radio Advertising Bureau. Other key executives include Kathy Baker, the Executive Vice President of West Coast operations, and General Managers Eric Fahnoe and Steve Darnell.

Kathy Baker, Executive Vice President of Buckley Radio-West Coast

Richard Buckley, former President (1972-2011)

Joe Bilotta, current President & CEO 





Radio continues to be relevant as new platforms emerge. 93% of U.S. citizens claim to regularly use radio, and 56% of people use online radio. Several Buckley stations are listened to via TuneIn’s streaming service in countries outside the U.S. Commercial radio use is increasing by over 300% in countries such as Africa and India, 30% of men in Pakistan listen to the radio on their phones, and 75% of people in multiple countries including Peru listen to the radio daily. While new platforms continue to emerge and the internet’s popularity booms, radio is certainly still being used. [5] , [11]


Buckley has seen limited integration into platforms outside of radio. Every Buckley-owned station has a corresponding website with diverse features including event calendars, merchandise stores and memberships for communicating with other fans. The company partnered with online radio-streaming service TuneIn in late March 2012 to provide streaming for 12 of the more popular Buckley-owned stations including WOR 710 and KUBB 96.3. The streaming platform reaches tens of millions of listeners in over 100 countries, including Buckley stations. [6]

The company operates a YouTube channel focused on Monterey, CA events, specifically those attended by the Monterey-based Z97.9. Videos include KWAV 96.9 FM at the Monterey County Fair, and the following clip of KWAV at Central Coast’s Got Talent.

Recent News and Looking Ahead:

The continuing sale of WOR 710 and the WOR Radio Network is likely to have a moderate impact on Buckley Radio’s future growth and business model. The revenue from distributing WOR-produced programming is substantial, leading some to think President Bilotta is looking to sell the company after 50 decades of family ownership. Bilotta said of the sale, “For more than 23 years, Buckley Radio has been the steward of one of the most legendary radio stations in broadcasting history and I would like to sincerely thank all of the wonderful people who devoted their time, energy and efforts over the years to WOR Radio. By passing the baton to Clear Channel Media and Entertainment, WOR listeners, advertisers and employees will gain access to the unparalleled resources of a worldwide, multi-dimensional media and entertainment company.” [7]

The new presence of Bilotta has come with several promotions and layoffs. John Sterling was promoted to General Manager of KSEQ and KIOO radios in Fresno, CA. Stuart P. Gorlick was hired as Buckley’s Director of Sales in October. He has extensive sales experience and has worked as an on-air radio personality. [8]


1. WOR Radio Network
2. Clear Channel Purchases WOR
3. Buckley Press Releases
4. Richard Buckley Passes Away
5. International Radio Use Increasing
6. http://rbr.com/tunein-adds-buckley-radio/
7. Clear Channel To Purchase WOR
8. Gorlick Hired as Director of Sales
9. WOR Sold to Clear Channel
10. Properties Owned by Buckley
11. Radio Listenership in U.S. 






Cox Radio, Inc

by [Isabel Herrera]

6205 Peachtree | Dunwoody Road | Atlanta, GA 30328| Phone: 678-645-0000| Website: www.coxmediagroup.com

Major Market Competitors:

▪       Clear Channel Communications, Inc

▪       Cumulus Media, Inc

▪       CBS Radio, Inc


Cox Radio, Inc is a radio company based in Atlanta, Georgia. Founded in 1934 by James M. Cox, Cox Radio, Inc continues to deliver quality radio content, reaching 18 million radio listeners across the country. Cox Radio prides itself in establishing the first FM station in the south during 1964. [1]

Company Overview:

They operate as a division of Cox Media Group, Inc, a subsidiary of conglomerate Cox Enterprises. In 1996, Cox Radio became a publicly traded company.  However in 2009, Cox Radio, Inc made the transition from a public company to a private corporation. [2] Over the years, Cox Media Group has expanded its television, newspaper and broadcasting services; however, radio remains a relevant component to the company’s overall successful $1.8 billion revenue. Cox Radio, Inc along with Cox Enterprises is considered to be one of the few successful family-own businesses currently functioning in the entertainment market. [3]

Cox Radio is 62 percent-owned by Cox Enterprises, Inc, and is responsible for a total of 86 radio stations (15 AM radio stations, 71 FM radio stations) in locations such as Atlanta, Stamford/ Norwalk, New Haven, Bridgeport Connecticut; Dayton, Ohio, Greenville, South Carolina; Honolulu, Hawaii; San Antonio and Houston Texas; Tampa, Orlando, Miami, and Jacksonville, Florida; Long Island, New York, Louisville, Kentucky, Richmond, Virginia; and Tulsa, Oklahoma. [4]

In Cox Radio Syndication, the company is able to produce and distribute expansive radio programming to approximately 200 affiliate stations through a partnership with Jones Radio Network. [5]

In 2009, Cox Media Group, Inc announced a new model that “reorganized its media businesses by maximizing the expertise and talents of its media across its portfolio or radio, television and newspaper businesses.” Adapting this progressive agenda enabled for the radio division to bring together advertising services and their firms in a costly-efficient manner. [6]

Notable Key Executives:


Courtesy of Google Images

James C. Kennedy is the grandson of the legendary founder is currently the Chairman of the conglomerate Cox Enterprises, Inc. Prior to his position as Chairman, he was CEO from 1988 to 2008. James Kennedy also serves as Chairman of the Board for Cox Radio. [9]


Courtesy of Cox Media Group

Robert Neil as Executive Vice President of Cox Media Group supervises several radio, television, newspaper, and digital research operations within the company. He joined Cox in 1986 as Station Manager of WSB- AM/FM and by 1988 was named VP and General Manager WWRM-FM. Eight years later, he was named President and Chief Executive Officer of radio when Cox Radio became a public company (1996). [7]

Courtesy of Cox Media Group

Charles L Odom serves as Chief Financial Officer & Principal Accounting Officer has served Cox Radio since January 2009. Charles joined Cox Radio in 1996 as Manager of Financial Reporting, and served as Director of Financial Reporting and Analysis from 2001- 2008. [8]


Courtesy of Cox Media Group


Neil Johnston  currently serves as the Executive Vice President, Strategy and Digital Innovation. He oversees Strategic Development, and the digital expansion of Cox Media Group. Neil was also Cox Radio’s Chief Financial Officer for the past nine years, and he has currently stepped down from the position. [9] [10]

Finances/Market Revenue:

After announcing their transition from public to private in 2009, it was reported that Cox’s revenues increased from $1.8 billion to $15 billion. Nonetheless, in 2011, Cox’s annual earned profits was $14.6 billion, falling -0.7 percent short from the previous $15 billion revenue. [11]

Specifically, over the past year Cox Radio’s revenue has increased 1% compared to radio’s overall revenue, which fell by 2%. Similar to other radio companies, Cox Radio, Inc is currently threatened by the ipod effect and the general struggle to maintain profitable radio advertising results in the market. [12] [13]

Popular Radio Shows: 

Alan Cox Show Flyer. Courtesy of www.wmms.com


Kono 101.1 flyer. Courtesy of www Kono 1011.com


Cox Radio reportedly experienced a $404 million loss due to weak advertising revenue. This equates to a $4.08 per share relative to the net income of $1.8 million and earnings back in 2007. Particularly, the general economy and the advertising market contributed to the 7.2 percent decrease in local revenue, while national revenue decreased at an astonishing 11.7 percent. [14]


Interestedly enough, Cox Radio, Inc acquired Valpak of Jacksonville in order to best cross-promote their radio services along with advertising incentives to radio listeners. Valpak mails over 20 billion coupons and targets about 100 markets in 48 states and four Canadian areas. They also integrate digital advertising into their promotions through Smartphone apps, QR codes, and phone messaging interaction. This opportunity will provide a unique outlet for local Cox Radio stations to market their shows and upcoming events. [15]

Cox Radio is set to expand their radio news service throughout their Atlanta-based locations. The news stations will provide regional weather coverage, sports information, and regional weather coverage that w. They decided on this news alternative after seeing an opening where Clear Channel declared closure for their Georgia News Network by the end of this year. [16]


Once again, Cox Radio stations experienced budget cut expenses. Cox Radio has released two of the most charming radio personalities: the amiable Steve O. Sellers and the laid-back Katrina Curtis. The cuts were not done on personal ends, but simply because it was a  “business decision.”  Loyal radio listeners were a bit gloomy, considering there no indication of a goodbye announced through the radio on behalf of the Disc jockeys themselves.  An interesting comparison was made recalling how in the 70s and 80s Disc Jockeys dominated stations, and the ratings correlated with the sales of ads, respectively. Nowadays, large companies are far more concern with cutting costs even if it means getting rid of the most important element in radio shows: the talent. [17]

Cox Radio supports The Internet Fairness Act , which will help end the discrimination against online radio. Their decision to stand in favor of this act demonstrates the acceptable shift between traditional radio and modern radio alternatives. This is certainly a pivotal step towards the merging direction our radio culture is intended to encounter. [18] [19]



[1] http://www.fundinguniverse.com/company-histories/cox-enterprises-inc-history/ (Cox Enterprises, Inc. History)

[2] http://www.adweek.com/news/television/cox-radio-goes-private-112341 (Cox Radio goes Private)


[4] http://streamingradioguide.com/radio-parent-list.php?parentid=6  (List of 86 radio stations)

[5]http://www.hoovers.com/companyinformation/cs/competition.Cox_Radio_Inc.1f936d45ef30fa21.html (Affiliate Partnerships of Cox Radio, Inc)

[6] http://www.coxmediagroup.com/news/cmg-press-releases/cox-media-group-announces-new-integrated-media-org/nCq/ (Cox Media Group Announces New Integrated Media Organization)

[7] http://www.coxmediagroup.com/about/ourleadership/bob_neil/

[8] http://www.coxmediagroup.com/about/ourleadership/bob_neil/  (Bob Neil)

[9] http://people.equilar.com/bio/charles-odom-cox-radio/salary/348497#.UMHqJY48gbU   (Charles L Odom)

[10] http://www.forbes.com/profile/jim-kennedy/ (Jim Kennedy)

[11]http://www.coxmediagroup.com/about/ourleadership/neil_johnston/ (Neil Johnston)

[12] http://www.forbes.com/lists/2011/21/private-companies-11_Cox-Enterprises_H166.html

[13] http://www.forbes.com/lists/2011/21/private-companies-11_Cox-Enterprises_H166.html (Forbes Financial Update)

[14] http://www.wikinvest.com/wiki/IPod_Effect (ipod Effect)

[15]http://www.wikinvest.com/stock/Cox_Radio_(CXR) (Cox Radio Finances)

[16]http://www.bizjournals.com/sanantonio/stories/2009/03/02/daily25.html?ana=yfcpc(Revenue loss)

[17]http://www.kxxv.com/story/19882720/cox-radio-acquires-valpak-of-jacksonville-franchise (Valpak)

[18]http://www.ajc.com/news/business/cox-media-group-to-launch-radio-news-service/nSTHY/ ( Launching news station)

[19]http://blog.mysanantonio.com/jakle06/2012/11/major-cost-cuts-at-cox-radio-popular-djs-axed/ (TV Personalities)

[20] The Internet Fairness Act  (Internet Fairness Act)

[21] http://www.allaccess.com/net-news/archive/story/112490/count-cox-media-group-in-as-supporting-the-interne


Tribune Broadcasting

by Samantha Sloan


Tribune Broadcasting Logo ©Tribune Broadcasting

Tribune Broadcasting
435 N. Michigan Ave Suite 1800
Chicago, IL 60611

Phone: 312-222-3333
Fax: 312-321-0446

Website: http://www.Tribune.com

Tribune Broadcasting is a pioneer in both radio and television broadcasting, and is a faction of the major media conglomerate, Tribune Company. Tribune Broadcasting owns and operates 26 major market television stations, which cumulatively reach more than 80% of United States Households. The group is anchored by super-station WGN America, which can be seen in more that 66 million households via satellite and cable services nationwide. 19 Tribune stations are affiliated with the growing Warner Brothers Television Network, and Tribune holds a 22% equity investment in this network. [6] [11]



Paul Wesley and Torrey Devitto pose at a Tribune Event. ©Tribune Broadcasting

Tribune Broadcasting is one of America’s largest and most respected broadcasters, and has a long history of innovation and development. Starting in 1924 with WGN Radio, Tribune Broadcasting has set a national precedent for American broadcasting. Tribune is responsible for radio’s first live broadcast, television’s first live sporting event, and the invention of instant replay and live aerial news coverage. Also, Tribune Broadcasting has recently switched from analog technology to the latest digital technology to help viewers gain access to the highest quality television possible. [10]


Tribune Broadcasting owns and operates many television stations across the country; however, Tribune also develops and distributes many first run syndicated television programs for the Tribune Station group. It also produces content for national syndication, including the Chicago Cubs Baseball Team and Chicago’s WGN-AM.



Iron Chef is one of the most popular shows on the Food Network, and is owned by Tribune Broadcasting. ©Food Network


The majority of Tribune Stations are affiliated with the media conglomerates, FOX,and the CW Network, however, they also have ties to ABC,and MyNetworkTV due to license agreements in some cities. Tribune holds equity interest in many networks and websites, including the Food Network, Careerbuilder.com, Classified Ventures, ForSaleByOwner.com, Homefinder.com, and Topix, to name a few. [16] [5]


The top executives for Tribune Broadcasting are CEO, Nils Larsen, Chief Financial Officer and Senior Vice President of Administration, Gina Mazzaferri, Chief Executive Officer of the Tribune Company, Eddy W. Hartenstein, President of Programming Division, Sean Compton, and President for WPIX- TV, Betty Ellen Berlamino.  Real Estate billionaire, Sam Zell is also influential, and took ownership of the debt-heavy Tribune Company in the midst of bankruptcy. Zell took the company private, and is now working with Larsen to reestablish Tribune Broadcasting as an industry leader. [12]



Tribune Media Conglomerate Battles Debt ©Tribune Broadcasting

On December 8, 2008, the Tribune Company filed for Chapter 11 Bankruptcy, which was followed by a voluntary petition for reorganization in the United States Bankruptcy Court for the District of Delaware, which is in joint administration with the entire Tribune Media Conglomerate. Upon declaring bankruptcy, the company’s senior debt holders, Oaktree Capital Management, JP Morgan Chase, Anglo, Gordon and Company assumed control of Tribune’s properties. Since then, the company has been transferring ownership of the Tribune Broadcasting Television and Radio Station licenses to the investment groups that now operate the company. For this reason, the company is no longer making any earnings public, and has not released any earnings information since 2008. The company is still operating its media business during while restructuring, which includes production of all content that was produced before the company filed for bankruptcy. [14] [15]


Tribune Broadcasting CEO, Nils Larsen ©Tribune Broadcasting


Nils Larsen became CEO April 2011, after the previous CEO, Jerry Kersting resigned due to his inability to effectively lead the company out of Chapter 11 Bankruptcy. Larsen has been an incredibly effective CEO, and has worked extensively to re-establish the company as a national broadcast leader. According to Tribune owner, Sam Zell, “Nils is the right person to lead out broadcast operations…he’s thoughtful, creative, and has the vision necessary to maximize the effectiveness of the group.”[1]


In the past year and a half, Nils has shifted the company from one stuck in old ways to one that is innovative, creative, and focused extensively on demonstrating company worth to advertisers. In a recent press conference, Eddy Hartenstein, head of Tribune Co’s Print section and editor of the LA Times stated that, “under Larsen’s leadership, cash flows have been up significantly than they were a year earlier”. Tribune Broadcasting keeps its financial information private, however this statement was incredibly promising, and a good sign for investors as the company plans to leave Chapter 11 Bankruptcy in the next few months.
Nils Larsen has also taken the lead in the reinvention of Tribune Broadcasting and its role in local television. As stated by Lee Abrams, Tribune’s Chief Innovation Officer, “we have to be radically and noticeably different-we have to imagine TV and TV news in a totally new way, one that breaks through and reinvents decades of the old, tired, TV playbook”. These changes involve everything from station identifications, logos, graphics, promos, and to anything else that would distinguish a Tribune station from any other station in the market. [14]


Tribune Company’s New Website. The new design, frequently changing pictures, and opportunities for viewer responses is helping viewers become more connected with content. ©Tribune Broadcasting

On June 29th, 2012, Nils hired new creative directors John Zeigler and Carrie King, to implement dramatically new creative standards and promotional emphasis for the websites and television stations within their respective regions. In order to appeal to a younger demographic, the creative duo threw out Tribune’s previous website design, and replaced it with a website that is more appealing to these younger viewers.[2]




Tribune has also distinguished itself from other broadcasters on August 8th, 2012 upon the release of the Augmented Reality Application. This application was designed to help Tribune bridge the gap between what Chief Innovation Officer Lee Abrams referred to as the, “1970’s Television Playbook” to content that spawns a symbiotic relationship between the broadcaster and the viewer. Chicago’s WGN-TV was the first to launch this application, which they named WGNTV-AR. The company used Aurasma technology, which allows printed material to virtually come to life in either the 3D or video form. The company launched this application using the Chicago Tribune and Red Eye online newspapers. Simply, this mobile application allows readers to scan over content that interests them, and then they are linked to the video content on WGN-TV. The application was released widely, and is available on both Google Play and iTunes.  The Tribune Company is confident that this new technology will be beneficial to both their newspapers and television stations, and will help viewers become more involved in the content. [3] [9]


Video: The Impact of Technology Dependency on Media Delivery


Tribune Broadcasting has had many carriage controversies in 2012 beginning on April 1st, when Tribune’s carriage agreement with DirecTV ended. On April 1st, all 23 broadcast stations owned by Tribune Broadcasting were pulled from the satellite provider at midnight. Tribune had been seeking retransmission consent payments from DirecTV, which the company had received for the carriage of WGN America under its previous carriage agreements. On April 3rd, DirecTV filed a complaint with the Federal Communications Commission claiming that Tribune representatives had acted in bad faith. This complaint spawned from the claim that the company had transferred control over its broadcast licenses to bankruptcy creditors in an inappropriate fashion. The dispute continued until April 5th, 2012, when Tribune Broadcasting and DirecTV reached an agreement for the Tribune Broadcasting Stations and WGN America. At 9:00pm that day, the complaint to the Federal Communications Commission was dropped and the Tribune stations were restored to DirecTV subscribers. [4]


Similarly, on April 16th, 2012, Tribune Broadcasting’s carriage agreement with Cablevision was terminated which prompted the removal of WPIX, WCCT and WPHL being pulled from Cablevision systems in New Jersey, New York and Connecticut. Similarly, KWGN was pulled from Optimum West Systems in Colorado and Wyoming. On August 16th, 2012, Tribune Broadcasting clarified this removal of stations and subsequent confusion by stating that, “Cablevision has never compensated Tribune for the retransmission of its local stations, which are among the most highly watched channels on Cablevision’s line-ups.  What we have proposed amounts to less than a penny a day per subscriber, well below what Cablevision pays to providers of less well-watched channels.” [8]


Cablevision blocked out WPIX in dispute with Tribune Broadcasting ©LIBN


On November 16th, 2012, the Federal Communications Commission announced that it has approved Tribune Broadcasting’s request for the assignment of broadcast licenses and waivers in cross-ownership markets. Simply, the FCC granted the Tribune Company cross-ownership in Chicago, New York, Los Angeles, South Florida and Hartford. Tribune owns 23 television stations and 8 newspapers in these markets. The company is extremely excited about the decision, since it will allow the company to continue moving out of Chapter 11 Bankruptcy in the next several weeks. [13] [14]
On November 19th, SVP of programming and entertainment, Sean Compton, moved up to president of programming at Tribune, overseeing WGN/ Chicago as well as Tribune’s 23 National TV Stations and the national WGN America cable station. Larsen was quoted in Radio Ink, stating that, “(Sean Compton) has been turning around the attitude at our station group and at WGN America by securing outstanding syndicated programming- and better programming means better ratings. He’s making a huge difference in our recent success”




[1]Sam Zell names Niels Larsen CEO http://articles.chicagotribune.com/2011-06-01/business/ct-biz-0601-phil-20110601_1_randy-michaels-ceo-and-publisher-executive-shuffle

[2]Tribune Broadcasting Reinvents Creative Services http://www.prnewswire.com/news-releases/tribune-broadcasting-reinvents-creative-services-97411229.html

[3]Printed Reality Comes to Life as WGN-TV Launches Augmented Reality App http://www.wgntv.com/about/station/pressrelease/wgntv-printed-comes-to-life-as-augmented-reality-app-20120808,0,5805252.story

[4]Tribune Broadcasting Says No To DirectTV Deal http://usatoday30.usatoday.com/money/companies/story/2012-04-01/tribune-directv-deal/53919334/1

[5]Tribune Broadcasting http://en.wikipedia.org/wiki/Tribune_Broadcasting

[6]Tribune Company Website http://www.tribune.com/

[7] Newspaper Paywalls http://www.thewrap.com/media/article/newspaper-paywalls-too-little-too-late-fallen-giant-industry-35885

[8] Tribune Company Statement on Negotiations with CableVision http://corporate.tribune.com/pressroom/?p=4462

[9] Printed Material Comes to Life with New Augmented Reality App http://corporate.tribune.com/pressroom/?p=4452

[10] Analog. Digital. What’s the Difference? http://telecom.hellodirect.com/docs/Tutorials/AnalogVsDigital.1.051501.asp

[11]Company Overview of Tribune Broadcasting Co. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1579369

[12] About Tribune Administration/ Executives http://corporate.tribune.com/pressroom/?page_id=2

[13] Tribune Co. Bankruptcy http://www.deadline.com/tag/tribune-co-bankruptcy/

[14] Tribune Win’s FCC Approval http://corporate.tribune.com/pressroom/?p=4835

[15] Restructuring Information Website http://dm.epiq11.com/TRB/Project

[16] Tribune Company History http://corporate.tribune.com/pressroom/?page_id=2313

Sinclair Broadcast Group

by Steven Geer

Logo courtesy of www.sbg.net

Headquarters – 10706 Beaver Dam Road, Hunt Valley, Maryland 21030

Telephone  (410)-568-1500

Social Media – LinkedInFacebook, Twitter (@sbgi)

Brief History


David B. Smith, President & CEO – Photo courtesy of Nicholas Griner, Baltimore Business Journal

Sinclair Broadcasting Group is a telecommunications company located in Hunt Valley, Maryland, USA. Founded as Chesapeake Television Corporation in 1971 by Julian Sinclair Smith, its station ownership started in Balitmore (WBFF), Pittsburgh (WPTT/WPMY) and Columbus (WTTE). In 1985, the remaining stocks of the business were bought out by Smith’s four sons and its name was changed to Sinclair Broadcast Group.

Since 1988, David B. Smith has served as President & CEO while the remaining brothers hold executive positions as well. Their leadership brought the company to a new level, expanding both its audience reach and content variety. In 1995, the company became publicly traded on NASDAQ with the symbol SBGI [1][2].

Sinclair Broadcasting was a pioneer of local marketing agreements in the early 1990’s. Though many stations are owned and operated by Sinclair, others are affiliated through LMA’s. Sinclair’s stations are affiliated with major networks like Fox, NBC, CBS, and ABC. Also, this company was one of the first to experiment with “prepackaged” news programs, produced by the news organization, News Central [3].

Sinclair has a diverse array of holdings outside telecommunications as well. Ring of Honor Wrestling is just one of their many subsidiaries. They air the content they produce in certain markets and upload some episodes to YouTube.

Here is Ring Of Honor Episode 54 from October 11, 2012:

Recent Acquisitions and News

A buying spree in 2011 and early 2012 added the assets of Four Points Media Group, the Freedom Communications stations group, and six stations from Newport Television [4][5][6]. Sinclair Broadcast Group now operates the largest number of local television stations in the United States.

Their most recent acquisitions closed December 1, 2012  and include stations in new and previously established markets. In addition to increasing the audience reach of Sinclair 3%, these purchases also increased the number of affiliated stations in Sinclair’s portfolio. Some of the stations now owned by Sinclair are WTTA (MNT) Tampa, KBTV (FOX) Beaumont, WKRC (CBS) Cincinnati, WOAI (NBC) San Antonio, WHP (CBS) Harrisburg, WPMI (NBC) and WJTC (IND) Mobile, KSAS (FOX) Wichita, and WHAM (ABC) Rochester.

See all of Sinclair’s holdings and their information here.

Sinclair’s Markets – Map courtesy of Sinclair Broadcast Group

The failure of New Central and Sinclair’s profile as a “profit first, journalism second” broadcaster prompted the company to shift its focus to quality news in local markets. Sinclair’s recent acquisitions included many local news stations, atypical purchases for the company, but smart because of their powerful local presence. Sinclair has even joined the National Association of Broadcasters, a sign that they’re willingness to participate in Washington alongside competitors [7].

Hurricane Sandy had a large impact on many viewers in Sinclair’s markets, creating an opportunity for the company to serve its local constituents. During the storm, Sinclair provided non-stop coverage by “simulcasting” the news programs online. This allowed those without power to access it using mobiles phones and tablets. Online streaming and other technology platforms are being considered at Sinclair Group. Chief tech executive Del Parks spoke for the company claiming that the multiscreen experience is, “a very personal thing for our news operations.” Simulcasting was also used this fall in local office campaigns within certain Sinclair markets by streaming town hall debates on their website [8].

On November 13, 2012 it was announced that Sinclair Broadcasting would be partnering with Datasphere, a technology company aimed at small business solutions in major media and reaching the hyperlocal market. Sinclair’s television station websites will be retrofitted with Datasphere’s event calendars for local event lists in each market. An example of this calendar can be seen on WBFF Baltimore’s event website. This will be used alongside a whole new technology platform at Sinclair Group. It is a full-sized service that connects local small businesses to media companies for advertising needs. Datasphere’s services will be introduced into 21 markets including Austin, Baltimore, Columbus, Dayton, Nashville and San Antonio [9].

Sinclair attends many industry conferences. Their next conference is the JP Morgan Global HYLFC in Miami Beach, February 25-27, 2013.

Financial Overview

Sinclair’s income statement for December 2, 2012 shows the stock price settling at $11.03; this is still low compared to their period of $14.00+ shares back in 2003-2004. This company has battled through the economic recession, however, showing staggering growth in returns over a three year period. In fact, they’ve quadrupled the 3 year return percentage of their competitor Belo Corporation from 2009 to 2012 [10].

SBGI Total Returns Comparison

Chart courtesy of www.ycharts.com

Three year returns are a significant figure for a long-term shareholder of this company. High returns indicate a growing business. Sinclair has rebounded from the recession and continues to show steady growth.

High third quarter revenues this year were reported following Hurricane Sandy’s aftermath. The 44% increase from $181 million to $260 million was attributed to political advertising associated with the campaign season and a spike in automotive advertising on Sinclair’s stations. After reaching retransmission agreements with networks like Comcast and Dish, Sinclair found that higher retransmissions revenues also contributed to the figure [11][12].

Hear or watch the rebroadcast of the 3rd quarter 2012 earnings results here.

Sinclair’s financial calendar is as follows:

  • February 6, 2013 – Fourth Quarter 2012 Earnings Report
  • May 1, 2013 – First Quarter 2013 Earnings Report
  • June 16, 2013 – Annual Shareholders Meeting
  • August 7, 2013 – Second Quarter 2013 Earnings Report
  • November 6, 2013 – Third Quarter 2013 Earnings Report


Sinclair Broadcasting, though successful and respected in the industry, is not immune to scrutiny by its competition and the public eye. The company is known for blatantly taking sides on social and political issues including political campaigns. A conservative bias can be noticed in the programming Sinclair chooses to air around election time. Even so, they deny any partisanship and claim to only be informing and engaging the public.

Photo courtesy of cbs12.com

The 2012 Presidential Campaign was another opportunity for Sinclair to garner the profits of political advertising at the cost of their audience’s scheduled news programming. The decision to preempt regular programs in order to air the “ABC 6 Election Special – VOTE 2012” didn’t sit well with supporters of Obama [13]. The special was aired in markets all located in battleground states.

A writer for The Baltimore Sun wrote in an article that, “the only thing that was lower than the attack-ad-dominated style of campaigning by both sides was the performance of an increasingly superficial and partisan press,” [14][15]. Sinclair has since rejected the criticism, claiming that the specials were focused on the issues and not so much the candidates, and that the markets where they were aired had more “news value.” [16]

Watch a recap of the election special here.

In a dispute with Dish Network this past August, Sinclair was ready to black out 74 of its stations carried by Dish when they wouldn’t accept a new retransmission agreement. A public exchange of words between the two companies resulted in high tensions and little motivation for Sinclair to bargain with the distributor. Dish claimed that Sinclair was charging more than any other broadcaster, resulting in higher subscription fees for customers. Sinclair, however, views retransmission fees as an important resource for the company. A multi-year consent agreement was finally reached after several weeks. Sinclair has become increasingly aggressive towards television providers and retransmission fees. Similar disputes between Mediacom, Time Warner, and Comcast all ended with agreements favoring Sinclair [17].



[1]: http://www.sbgi.net/about/history.shtml

[2]: http://www.nasdaq.com/symbol/sbgi

[3]: http://www.sbgi.net/about/profile.shtml

[4]: http://www.broadcastingcable.com/article/473517-Sinclair_Grabs_Four_Points_Stations_for_200_Mil.php

[5]: http://www.reuters.com/article/2012/07/19/sinclairbroadcast-acquisition-idUSL4E8IJ3M120120719

[6]: http://www.reuters.com/article/2012/07/19/us-sinclairbroadcast-acquisition-idUSBRE86I0OY20120719

[7]: http://www.broadcastingcable.com/article/481963-Local_TV_s_Death_Star_Gets_in_Sync.php

[8]: http://www.tvnewscheck.com/article/63574/second-screens-now-a-necessity-at-sinclair

[9]: http://www.sacbee.com/2012/11/13/4981878/datasphere-teams-up-with-sinclair.html

[10]: http://ycharts.com/companies/SBGI/performance

[11]: http://www.google.com/hostednews/ap/article/ALeqM5hmOfM9u5nekq4hbPyXAmLOj9OErg?docId=365c480866ce41d9b245673a0f614900

[12]: http://www.broadcastingcable.com/article/490194-Sinclair_Revenue_Up_49_.php

[13]: http://www.mediabistro.com/tvspy/sinclair-under-fire-for-airing-partisan-special-on-stations-in-battleground-states-on-election-eve_b68439

[14]: http://articles.baltimoresun.com/2012-11-07/entertainment/bal-election-night-tv-twitter-youtube-20121106_1_sinclair-stations-baltimore-s-wbff-sinclair-broadcast-group

[15]: http://www.commonwealmagazine.org/blog/?p=21681

[16]: http://www.tvnewscheck.com/article/63412/sinclair-rejects-criticism-of-election-specials

[17]: http://www.deadline.com/2012/08/dish-network-sinclair-retransmission-agreement/




















Raycom Media

by Raja Ram

Raycom Media

Company Description:

Raycom Media Inc. engages in television and radio broadcasting through its subsidiaries. It participates in the sports marketing, video production and telecommunications. The firm also participates in video broadcasting with a focus on corporate, commercial, and manufacturing clients. In addition, they work with state and local governments nation-wide to provide systematic support in telecommunications and broadcasting. For example, one subsidiary, KCBD, broadcasts political advertisements. Below is a video that demonstrates their involvement:

http://www.youtube.com/watch?v=BhBTc1EMfNg  [3]

Raycom Media Inc currently owns and provides services for 52 stations [1]. It covers 12.6% of US households and employs over 3,500 individuals [1]. The firm is currently employee-owned and is not publically traded [1]. In addition, Raycom’s chief subsidiaries include Raycom Sports, a sports marketing firm in Charlotte, North Carolina and Broadview Media which is a post-production company in Montgomery, Alabama. They also own the rights to regional cable and syndication television to the Atlantic Coast Conference (ACC) Athletics [1].

The firm bolsters offices in Texas, Arkansas, Missouri, North Carolina and South Carolina, but is headquartered in Montgomery, Alabama. The company’s contact information and key executives are listed below [9].

Key Executives for Raycom Media, Inc [9]:

Mr. Paul H. McTear
Chief Executive Officer and President

Ms. Melissa Thurber
Chief Financial Officer and Vice President

Mr. Wayne Daugherty
Chief Operating Officer and Executive Vice President

Mr. David Folsom
Chief Technology Officer and Vice President of Technology

Ms. Rebecca Bryan
Vice President and General Counsel

Contact Information:
201 Monroe Street
RSA Tower
20th Floor
Montgomery, AL 36104
United States
Phone: 334-206-1400

Company History:

Raycom Sports was founded in 1979 [7] by Rick Ray who left his former station in order to a tap into the college basketball market.

He partnered up with Dee Birke and started buying the rights to games, and producing, syndicating, and selling commercials to cover expenses. Eventually, Ray acquired the rights to ACC sports teams by 1981 [7] after forming a joint venture with another broadcasting firm Jefferson-Pilot Sports. All syndicated programming was distributed over landlines through AT&T networks. The company flourished under a unique business model in which they purchased all advertising space from local stations, and then sold the allocated time to advertisers at a higher premium. They also incorporated a central monitoring system that allowed for easy billing the following day to advertisers.

The firm continued its successful growth based off the model that local stations broadcasting local sports could be more successful than broadcasting out of region sports programming in multiple sites. In addition, they broadcasted sports programming from ESPN, and in “blacked out” regions. Raycom also partnered with ABC and purchased airtime from the network in order to show sports programming. The deal was so successful, that up until 1995 [7], the two remained partners.

The network continued to expand its horizons and began broadcasting bowl games, and ACC championship games. In addition, they got the rights to broadcast the Charlotte Bobcats NBA games [7]. They also began airing television programming such as “More than a Game”, which featured positive stories from the sports world. They also syndicated a number of specials on the life of Elvis Presley including “Elvis Graceland” (1987) [7].

In 1992, Bert Ellis formed Ellis Communications which at the time consisted of 13 television stations [7]. Ellis was a good friend of Ray’s and acquired Raycom Sports in 1994 [7]. He consequently sold the firm to an Atlanta based pension fund, Retirement Systems of Alabama, later that year. Through the merger of three big media hubs, Raycom Media Inc was founded in 1996 [1]. Initially the merger consisted of the purchase of 15 television stations, and other networks. This included the sports marketing firm that Raycom Sports, a distribution company and two radio stations.

Current Activity

Raycom Media Inc. is currently employee-owned, and has performed moderately well in comparison to competitors. Some of the firm’s current competitors include Media General Inc., Hearst Television Inc., and Nextar Broadcasting Group Inc [4]. Although these competitors provide similar broadcasting, marketing, and television services, Raycom excels with its sports marketing division. In addition, in recent years they have made strides to advance their uniqueness by branching out onto mobile devices and tablets [5].

Since Raycom media is a privately owned firm, their financials are not made available to the public. They are however, subject to auditing by the SEC and its subsidiaries [10]. Some financial data is available. Their annual revenue is $183.6 million [8]. The firm has not reported any significant loss or inability to meet expectations in the past year.

The firm has a number of subsidiaries. These include but are not limited to the following: KAIT, KCBD,KFVS, KGMB, KHNL/KOGG/KHBC, KLTV, KOLD, KPLC, KSLA,KTRE, WAFB, WAFF, WALB, WAVE, WBRC, WBTV, WBXH, WCSC, WDAM, WDFX, WECT, WFIE, WFLX, WFXG, WIS, WLBT, WLOX, and WMBF [2].

Raycom Media has four major programs. The first is “America Now” [14] which is a lifestyle magazine with several local appeals. The second is the “ACC Network” [15]. This network broadcasts both basketball and football games of the Atlantic Coast Conference. They also broadcast a number of individual programming such as player, coaches, and team interviews. In addition, they provide feedback and analysis on games including the ACC championship games. Third is “Bounce TV” [13] which airs programming and sports directed at African Americans 20+ and provide regional original programming as well. Finally, there is “Right this Minute” which airs originally programming that connects the internet and social media to broaden the appeal of television [2].


The firm also provides a number of career opportunities in marketing, sales, programming, and broadcast to prospective employees. To see the different opportunities within Raycom Media, please watch the following clip [3]:


Recent News

April 13, 2011: Raycom Media Inc., Cox Media Group, and The E.W Scripps Company partners up with MagicDust to create “Right this Minute”. This original programming will incorporate the internet, social media, and new storytelling methods to broaden the appeal of modern television. In addition, the programming is expected to reach 30% of American households and will be available for nationwide syndication. It will comprise of an hour-long special every weekday [9].

May 5, 2012: Raycom Media Inc announces the first ever exclusive African American programming station, Bounce TV. It is intended to reach 26 Raycom markets [2].

May 12, 2011: Raycom overhauls its broadcasting graphics system and replaces it with Chyron BlueNet graphics workflow. All 31 of its stations will now have the HD upgrade and will be outfitted with two dual-channel LEX3 on air graphics systems, a CAMIO server, and iSO monitoring application. This will allow Raycom’s networks to broadcast programming in HD and have fully automated playout as well as real-time playout. Raycom will incorporate BlueNet into its current cloud-based services [9].

May 23, 2011: MSA Security forms partnership with Raycom Media Inc.  This allows Raycom’s Media’s local news affiliates to use MSA Security’s analysis in its local news broadcasting. This includes analytics on some of the top counterterrorism operations within the past year [2].

July 12, 2011: Raycom media is recognized by PromaxBDA which represents broadcasting, cable, and advertising agencies as well as new media programming. This is one of the first steps for Raycom Media to become a national contender in broadcasting [2].

July 25, 2011: Raycom Media Inc, and Meredith Local Media sign an online pact that allows Meredith Local Media to access Raycom News Network and its digital content hub in Montgomery, Alabama [2].

September 29, 2011: Raycom Media Inc. debuts “America Now” which provides local news and broadcasting for regional areas. Upon initial airing of the program, it bolstered a strong viewership, and attracted many new viewers in “blacked out” regions [2].

January 18, 2012: Raycom Media Inc acquires New York based firm Tupeo-Honey Productions (THP) and 50% of the parent company My Tueplo Entertainment. This adds to the company’s production capacity. Most of Tupelo-Honey Production’s managing staff will remain in their current positions [2].

August 1, 2012:Raycom Media Inc. partners up with the College Football All-Star Classic to bring together the top contenders in college football in a week-long event played in Montgomery, Alabama [2].

August 13, 2012: Raycom Media Inc. launches its tablet applications for all 32 news stations. This is intended to connect consumers with local news and weather remotely. It is available for both android and iPad tablets. In addition, it includes live radar and storm tracking, breaking news push alerts, local sports including high school and college, and viewer submitted content. The application is compatible with iOS, Android, RIM, and mobile web [9].


1. Raycom Media Inc.–http://www.raycommedia.com/about/

2. Raycom Media News–http://www.raycommedia.com/news/

3. Youtube.com–http://www.youtube.com/watch?v=x3lxtbJrF4I, http://www.youtube.com/watch?v=BhBTc1EMfNg

4. InsideView–http://www.insideview.com/directory/raycom-media-inc

5. New York Times: BusinessWeek–http://www.nytimes.com/2003/01/31/business/the-media-business-advertising-addenda-people-111716.html

6. Robert Trent Jones Golf Trail– http://www.rtjgolf.com/partners/

7. Raycom Sports History–http://www.raycomsports.com/about-us/company-history/expanded-company-history/

8. Hoovers D&B Company–http://www.hoovers.com/company-information/cs/competition.Raycom_Media_Inc.8cc7c242ffb31d6f.html

9. Bloomberg BusinessWeek–http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=681777

10. Bloomberg–http://www.bloomberg.com/quote/24601Z:US/

11.Victory Management Group– http://vmg1.info/vmg-names-rick-ray-chairman-2/

12. IMD– http://www.imdb.com/

13. Bounce TV– http://www.bouncetv.com/

14. America Now — http://www.americanownews.com/

15. ACC Network– http://www.americanownews.com/

16. Right this Minute — http://www.rightthisminute.com/


by Joseph Palagonia

Address: 1716 Locust Street,

Des Moines, IA 50309-3023

Phone: 515-284-3000

Official Website: www.meredith.com


Meredith Corporation, a media and marketing company, engages in magazine publishing and related brand licensing, television broadcasting, digital and customer relationship marketing, digital and mobile media, and video creation operations in the United States. It operates in two segments, National Media and Local Media. The National Media segment publishes magazines for women focusing on the home and family market. [1]

Mission Statement

“We are Meredith Corporation, a publicly held media and marketing company founded upon service to our customers and committed to building value for our shareholders. Our cornerstone is knowledge of the home and family market. From that, we have built businesses that serve well-defined readers and viewers, deliver the messages of advertisers, and extend our brand franchises and expertise to related markets. Our products and services distinguish themselves on the basis of quality, customer service, and value that can be trusted.” [2]

Meredith Corporation’s main principles include focusing on long term success, returning superior funds to their stockholders, and dedicating their lives to their employees and customers.


As we build our businesses for the future, the company is focused on three key strategies:

  • We will further develop our fundamental commitment to publishing – the essential element of our home-and-family focus.
  • We will further develop our fundamental commitment to broadcasting – an essential element of our growth strategy.
  • We will produce additional revenues and profit by integrating and leveraging the assets of our core businesses across multiple platforms. [2]


Edwin Thomas Meredith [2] founded the Meredith Corporation in 1902, when he began publishing Successful Farming magazine. After the publication’s success, the company in 1912 moved to it’s current headquarters located in Des Moines. Since then, many additions have been added to the building including a $40 campus addition completed in 1998.

Key Personnel

Stephen M. Lacy                                                                                  Joseph H. Ceryanec

Chairman, President and CEO                 Vice President and Chief Financial Officer


John S. Zieser

Chief Development Officer, General Counsel

Tom Harty

President, Meredith National Media Group

Paul Karpowicz

President, Meredith Local Media Group

Steven M. Cappaert

Corporate Controller

Local Coverage

Meredith Corporation provides entertainment for audiences on a local level. Led by President Paul Karpowicz, it’s television station group affiliates include CBS, FOX, and NBC. With its 12 local broadcast stations across the country, over 10 million U.S. households world wide receive forms of media from Meredith.

Meredith Stations

CBS Atlanta 46 CBS Atlanta (WGCL 46)
Atlanta, GA
Local News | Weather
Phoenix, AZ
Local News | Weather
FOX 12 Oregon KPTV FOX 12 Oregon (KPTV)
Portland, OR
Local News | Weather
Portland, Oregon
WFSB Channel 3 WFSB Channel 3
Hartford/New Haven, CT
Local News | Weather
WSMV Channel 4 WSMV Channel 4
Nashville, TN
Local News | Weather
KCTV Channel 5
Kansas City, MO
Local News | Weather
Kansas City, MO
FOX Carolina 21 FOX Carolina (WHNS 21)
Greenville, SC – Asheville, NC
Local News | Weather
FOX 5 Vegas FOX 5 Vegas (KVVU)
Las Vegas, NV
Local News | Weather
WNEM Channel 5
Flint/Saginaw, MI
Local News | Weather
CBS 3 Springfield WSHM CBS 3 Springfield (WSHM)
Springfield/Holyoke, MA
Local News | Weather

Also within Meredith’s Local Media Brands is a service developed and known as ONE Service, or On-Air Notification Entry System. ONE Service is an efficient solution to presenting time-sensitive information on the news, that would be traditionally found in local newspapers. A major service of ONE Service is their Obituary Notification service, which announces during weekday morning or noon shows and on weekend morning shows of any obituary notifications within up to 4 days, along with information of the respective upcoming funeral services. [4]

National Coverage

On a national level, Meredith Corporation is solidified by its core selection of magazines. From ranging selections including fitness to farming, Meredith Corporation helps provide knowledge to help women in all aspects of their lives. Magazines within Meredith Corporation include:

  • Better Homes and Gardens
  • More
  • Ladies’ Home Journal
  • Family Circle
  • Fitness
  • Parents
  • ReadyMade
  • Traditional Home
  • American Baby
  • Midwest Living
  • Wood
  • Successful Farming
  • Siempre Mujer
  • Ser Padres

Over the last year, Meredith has aggressively expanded its digital portfolio by offering:

  • Subscriptions and single-issues of nearly 20 brands on a range of tablet devices and distribution channels;
  • Over a dozen branded mobile Apps each with over 1 million downloads;
  • A broad array of branded consumer websites, including the recently acquired Allrecipes.com, that comprise the Meredith Women’s Network and reach approximately 40 million unique users every month;
  • Over 10,000 original videos, including the recently launched Digs Channel on YouTube. [5]

International Coverage

Along with local and national coverage, Meredith Corporation offers an service to international consumers throughout the world through its international branch, Meredith International. Meredith International’s goal, led by Meredith Corporation’s Chief Development Officer John Zieser, is to extend Meredith’s leading consumer publications to people of all countries.

Meredith offers its partners high-end editorial content, marketing expertise and consumer research derived from more than 100 years of experience as the leading media company serving women in the United States. The backbone to our ability to share content is Meredith’s proprietary digital library, housing over a million images and articles, and hundreds of hours of video. [12]

Click on the following link to watch a detailed description of Meredith International


Latest News


Meredith Corporation acquired the assets of Family Fun from Disney Publishing Worldwide to acquire the highly popular magazine, along with its special interest publications and its Toy Hopper and digital magazine applications. Financial terms of the acquisition however have yet to be disclosed [6].


Meredith Corporation announces its renewal of The Better Show for its sixth straight season, beginning in September 2012. The show has already cleared four of the top five U.S. markets (New York, Los Angeles, Chicago, Philadelphia) and has already sold in 135 cities. Groups such as CBS, Lin, Sinclair, Hearst, Newport, Gray, Northwest, and New Age have renewed or acquired the rights for the fall. [7]


Meredith Corporation and the Reader’s Digest Association Inc. reached an agreement for Meredith’s acquisition of Allrecipes.com, the world’s NO. 1 digital food brand. This acquisition placed Meredith first in comScore’s Food Community rankings, doubled Meredith Women’s Network’s audience, and granted it the power to offer advertisers and marketers access to more than 100 million American women across all media platforms. The transaction was valued at $175 million [8]


Meredith Corporation increased its rate base for EatingWell magazine from 500,000 to 600,000, an increase from 70 percent from the year before. In January 2012, EatingWell’s rate base had been raised from 350,000 to 500,000, and is currently being visited by close to 4 million unique visitors a month. [9] On April 16, 2012, Jon Werther had been named Meredith Corporation’s Chief Strategy Officer, placing him in charge of evolving corporate and business unit strategies and leading key initiatives. [10]


Meredith Corporation announced its decision to offer digital editions of its most popular magazines, including such well-known titles as Family Circle, EveryDay with Rachel Ray, Ladies’ Home Journal, Midwest Living, and MORE, as magazines on Google Play. [6]


Meredith Corporation announced that it had reached an agreement with CelebTV (www.celebtv.com)  to feature daily original HD videos on Meredith’s Divine Caroline (www.divinecaroline.com) site. Under the terms of the arrangement, CelebTV will play videos on everything Hollywoood, ranging from breaking news, movie reviews, celebrity hookups, pregnancies, and more. With Divine Caroline having over 2 million monthly unique visitors, Meredith Women’s Network had reached 40 million unique vistors monthly. [11]


Works Cited:

[1] Meredith Corporation Summary – Yahoo! Finance

[2] Meredith Corporation Mission Statement

[3] Meredith Corporation Local Coverage

[4] Meredith Corporation ONE Service

[5] http://meredith.mediaroom.com/index.php?s=2311&item=130026

[6] http://meredith.mediaroom.com/index.php?s=2311&item=110544

[7] http://meredith.mediaroom.com/index.php?s=2311&item=118747

[8] http://meredith.mediaroom.com/index.php?s=2311&item=122827

[9] http://meredith.mediaroom.com/index.php?s=2311&item=126857

[10] http://meredith.mediaroom.com/index.php?s=2311&item=126930

[11] http://meredith.mediaroom.com/index.php?s=2311&item=134685

[12] http://www.meredith.com/meredith_corporate/meredith_intl.html


Gannett Broadcasting

by Scott Weinstein

Gannett Co., Inc.
7950 Jones Branch Drive
McLean, VA 22107-0150
703-854-6000 / www.gannett.com

A Brief Overview

In 1923, Frank Gannet founded Gannett Company, Inc. in Rochester, New York. It began as an extension of Gannett’s newspaper company that was founded in 1906 and has expanded to a multi-media company that no longer just publishes newspapers (1). “Gannett is a media and marketing solutions company with a diverse portfolio of broadcast, digital, mobile and publishing companies.” They own more than 90 daily newspapers, about 1,000 weekly newspapers, 23 television stations and many more media holdings. Gannett operates in 41 U.S. states and six countries (2). Gannett is expanding its brand and as the CEO, Gracia Martore said at the UBS Global Communications Conference, “The media business does not stand still for even a minute we take for granted that change is relentless and we have to show up with our A game everyday.” (3)

Gannett Broadcasting: Company Overview

Gannett Broadcasting’s division is comprised of 23 television stations and its subsidiary Captivate. The former reaches 21 million households in 20 markets, which is approximately 18.2% of the U.S. population (2). The latter is a company that delivers news, information, and advertising through video monitors in elevators. They are currently located in North America and reach more than 4 million workers (4). At the end of 2011, the amount of employees, both full-time and part-time, totaled about 2,600 (5).


Executives (6)

The Faces of Gannett Company, Inc. (Lougee, Beall, Martore, Harker)(16,17,18,19)

Broadcast Office

David T. Lougee , President, Gannett Broadcasting

Lynn Beall; Executive vice president, Gannett Broadcasting, and president and general manager, KSDK-TV, St. Louis, MO

Company Office

Gracia Martore, President and Chief Executive Officer

Victoria D. Harker, Chief Financial Officer


As noted earlier the company owns 23 different television stations across the country, in 21 different markets. Seven of the 21 markets owned by Gannett are in the top 20 market (7).

(20, 21, 22, 23)

The stations are comprised of 12 NBC affiliates, 6 CBS affiliates, 3 ABC affiliates, and two MyNetworkTV affiliates. These affiliation agreements expire with NBC in 2017, with CBS in 2015, and with ABC and MyNetwork TV in 2014. The most successful weekly audiences, based on the November 2011 Nielsen sweeps, are the CBS affiliate in Washington DC (WUSA-TV) with 1,797,000; the NBC affiliate in Atlanta, Georgia (WXIA-TV) with 1,602,000; and the NBC affiliate in Minneapolis-St.Paul, Minnesota (KARE-TV) with 1,297,000. (8)

The ratings of these stations continue to do well. Lucky for Gannett, more than half of its stations are NBC affiliates, and this past November was the first time since 2003 that NBC ranked number one in the Nielsen prime time ratings programming amongst adults 18-49. This increased revenue, as many people tuned into the NBC programming. Furthermore, the past Summer Olympics in London were the most watched games in Olympic history, attracting more than 200 million people. KUSA-TV in Denver was the top rated NBC market affiliate during the two-week span of the games. Their Atlanta and Minneapolis NBC affiliates were ranked second and third respectively; and their St. Louis and Phoenix did well. In total the Gannett owned affiliate stations took six of ten top NBC affiliate markets in terms of ratings during the Olympics (3).

Arizona FlagstaffPhoenix KNAZ-TV (NBC)KPNX-TV (NBC)
Arkansas Little Rock KTHV-TV (CBS)
California Sacramento KXTV-TV (ABC)
Colorado Denver KTVD-TV (My Network TV)KUSA-TV (NBC)
District of Colombia Washington WUSA-TV (CBS)
Florida JacksonvilleTampa-St. Petersburg WJXX-TV (ABC)WTLV-TV (NBC)WTSP-TV (CBS)
Georgia AtlantaMacon WATL-TV (My Network TV)WXIA-TV (NBC)WMAZ-TV (CBS)
Maine BangorPortland WLBZ-TV (NBC)WCSH-TV (NBC)
Michigan Grand Rapids WZZM-TV (ABC)
Minnesota Minneapolis-St. Paul KARE-TV (NBC)
Missouri St. Louis KSDK-TV (NBC)
New York Buffalo WGRZ-TV (NBC)
North Carolina Greensboro WFMY-TV (CBS)
Ohio Cleveland WKYC-TV (NBC)
South Carolina Columbia WLTX-TV (CBS)
Tennessee Knoxville WBIR-TV (NBC)


Financial Information

Gannett Company, Inc. is a publicly traded media holding company (GCI). On October 15 the third quarter results were released, and the broadcasting division’s success was monumental. Both revenue and profits were at a record high in all of Gannett broadcasting history. The operating revenue increased 36% from $174.3 million the last 3rd quarter to $237 million during the most recent 3rdquarter.  The television revenue was also up 38.1% from $168.8 million a year ago to $233 million. The substantial increase is mostly attributed to advertising, which includes $41.7 million spent on political advertising and $37 million spent on the summer Olympics related ads. The Olympics brought in an unprecedented amount of revenue from advertising. Their total was up 18% from four years ago during the Beijing Olympic games. Part of the explanation was that Gannett reached out to local advertisers to sell television time to. Lougee is looking to increase the revenue even more during the 2014 Winter Olympic games in Sochi, Russia. In total, political revenue for the year will be $150 million. Prior to the 2012 election, Gannett lacked a strong political footprint, but that changed during this election. Because of more local coverage of elections, especially in swing state markets including Colorado, Florida, and Ohio, political advertising increased by a significant margin. Another source of the revenue came from retransmission fees, which accounted for $22.3 million. With retransmission consent in 2013, Gannett  will receive 135-140 million from distributors, which is up 41 to 46% from 2012. The fourth quarter results are expected to be at an all time high. When the books are closed for Gannett’s fiscal year, the broadcasting division will report record growth and revenue (3) (9).

YTD Stock Price (December 6, 2011-December 6, 2012) (24)

As far as the stock market is concerned, the current share price for GCI is $17.88. Their share price has seen an incline for the most part, as a year ago it was being sold at $13.13 (10) Just recently, a report was released by Dividend Channel that named them the top dividend stock with insider buying. On October 23, the Board of Directors of Gannett announced that a dividend of $0.20 per share would be payable to stockholders just after the new year. As of now the company is on track to return dividends up to $1.3 billion through 2015. Throughout the UBS Global Media and Communications Conference a common theme that both the CEO and CFO spoke about was making sure an increasing level of capital is returned to their shareholders. Furthermore, there is currently a large amount of cash flow totaling over one billion dollars. That money will be used to return even more cash and to invest into things that will expand the Gannett brand (3) (11).

Recent Happenings

Gannett and Dish Network

In late May, Dish Network introduced its Auto Hop feature available on its DVR service. This new technology allows users to skip over commercials on broadcast networks. While this is beneficial for TV viewers it hurts the broadcasters who lose advertising revenue. As a result of this feature, Dish Network and Gannett were having difficulty renewing their retransmission agreements (12). Gannett was looking for a 300% rate increase to compensate for the loss of revenue from advertisers. Dish Network’s stance was that they wanted to take a stand for customer choice and control. Fortunately for subscribers, rather than suffer from a blackout, the two companies reached a deal as the October 7th deadline was slightly extended. The terms of the deal have not been released, but the new contract is long term according to press releases by both companies (13).

Gannett and DirecTV

DirecTV customers narrowly avoided a blackout of Gannett television stations across the country. As the November 30th deadline approached, Gannett warned their viewers that they may experience a blackout of affiliate stations until an agreement was reached. This was all because Gannett was looking for a fair deal for retransmission fees, while DirecTV said that Gannett was trying to get customers to pay almost twice what they pay now for their stations. While the deal was made by the deadline, the details of the agreement have not been made public yet (14).


1. History of Gannett

2. Background info on the company

3. 40th Annual UBS Global Communications and Communications Conference Slide Show presentation Dec 5, 2012

4. About Captivate

5. 2011 Annual Gannett Company, Inc. Report

6. The Gannett Company, Inc. Leadership Team

7. http://www.stationindex.com/tv/tv-markets

8. 2011 Annual Gannett Company, Inc. Report pgs. 14-17

9. Q3 Earnings, October 15, 2012

10. Google Finance

11. Press Release, December 5, 2012

12. http://online.wsj.com/article/SB10000872396390443768804578038742408997314.html

13. http://www.reuters.com/article/2012/10/08/us-dish-gannett-idUSBRE89403I20121008

14. http://www.rapidtvnews.com/index.php/25251/gannett-directv-avoid-local-tv-blackout.html

15. Captivate Image

16. Lougee image

17. Beall image

18. Martore image

19. Harker image

20. MyNetworkTV image

21. NBC image

22. ABC image

23. CBS image

24. Google Finance image

25. Dish Network image

26. DirecTV image

27. Gannett image








by [Sean Schupak]

Key Executives:

                                  Total Assets       Net Income               ($000; 2012 through Q3) [1]

  • 2008 –                592,983       –       528,556
  • 2009 –                487,927       –       50,072
  • 2010 –                490,810       –       18,086
  • 2011 –                467,321       –       8,200
  • 2012 –                451,507       –       5,904

Financial Overview:

The third period of 2012 was a period of growth for Entravision, highlighted by an increase of $8.4 million–17%–net revenue.  Television net revenue increased by $7.3 million–22%–which is by far the bulk of the company’s overall net revenue increase. [1]

Company Overview:

Entravision Communication Corporations is a Spanish-language media company with holdings in television, radio, and digital formats.  The company’s head quarters is located in Santa Monica, CA, where the company was first started in 1996.

Entravision holds 53 television stations in the United States, operating in 19 of the top 50 Hispanic markets.  Entravision’s television holdings are, for the most part, affiliates of the networks Univision and TeleFutura–the two networks owned by Univision Communications Inc.  [2]

The company’s primary source of revenue is “sales of national and local advertising time on television and radio stations, and from retransmission consent agreements.”  The company’s profits peak in the 3rd quarters of off years i.e. during years when there is either a presidential election of the FIFA World cup.

Relationship with Univision

Some of Entravision’s channes have exclusive rights deals with Univision to broadcast the corporation’s Univision and TeleFutura programming.  These are “long-term affiliation agreements” that expire in 2021, at which point they can be renewed.  Until that point, though, Entravision is entitled “to sell approximately six minutes per hour of available advertising time on Univision’s primary network, and approximately four and a half minutes per hour of available advertising time on the TeleFutura network.”

Univision also acts as Entravision’s “exclusive sales rep for the sale of national advertising on [Entravision’s] Univision–and TeleFutura–affilate television stations.”  During the third quarters of the past two years–2011 and 2012–Entravision has paid Univision “$2.8 million and $2.4 million, respectively.”

Official Logo of Univision Communications, Inc.

Entravision also has “marketing and sales agreements with Univision which give Entravision rights to manage marketing and sales operations of Univision owned TeleFutura and Univision affiliates in nine markets–Albuquerque, Boston, Denver, Orlando, Tampa, and Washington, D.C.” [1]

Increasing Revenue and Impact of Political Advertising:

On November 1st, Entravision reported a television revenue of $40.9 million for the its third quarter this year.  This represented a 22% increase from its third quarter revenue in 2011.

The company attributed the increased revenue, in large part, to political advertisements.  2012, being an election year, saw a large number of advertisements for various campaigns [3].  The opportunity to broadcast such advertisements was not available the previous year.  This leap in revenue due to the election period is reflective of Entravision’s increasing role in the Latino political world, and the increasing population and activity of this particular market in the United States.

2012 Presidential Election:

Entravision covered the 2012 Presidential election extensively, providing a platform with which the Latitino population in the U.S. could stay informed.  They provided the most expansive coverage of the Democratic and Republican Conventions in September.

On Labor Day, Entravision aired an exclusive interview with President Barack Obama.  Entravision was also the only Spanish-language television company that was allowed an interview with the President in the contentious, battleground state of Colorado. [4]

In October, Entravision partnered with national non-profit Mi Familia Vota Education Fund.  The two came together to provide free rides for to polls in Denver, CO; Orlando, FL; Tampa, FL; Reno, NV; Las Vegas, NV; Palm Springs, CA; Stockton, CA; and Modesto, CA in an effort to help turn our Latino voters. [5]

New Management Structure:

On November 1, Entravision announced a new management structure.  The overhaul included promoting Jeffrey A. Liberman–who had previously been President of Entravision’s radio branch–to Chief Operating Officer of the company.  Mario M. Carrera–previously Senior Vice President of Spanish-Language Television–became Entravision’s Chief Revenue Officer.  Esteban Lopez Blanco–previously Entravision’s Executive Director of Interactive–was made Chief Strategy Officer, Corporate Development and Innovation.

The restructuring was a step in Entravision’s growing interest in digital, mobile, multi-media platforming. [6]

With television, radio and interactive assets serving the fastest-growing Latino markets in the nation, Entravision is uniquely positioned to meet the integrated multi-platform marketing needs of advertisers.  Our diverse asset base provides a comprehensive offering of media solutions targeting the Spanish-language community. This new management structure will allow us to strengthen our ability to serve our advertisers and consumer audiences, drive operating efficiencies and capitalize on a range of growth opportunities.
-Walter F. Ulloa, Chairman and Chief Executive Officer

Wells Fargo Debt:

On November 29 Entravision’s Board of Directors declared that it would pay back $40 million worth of 8.750% notes due to Wells Fargo Bank, N.A.  The payment is an early payment of a part of a larger debt outstanding due in 2017.  That debt will total at $324 million after the $40 million is payed.  The payment will be payed with $20 million cash-in-hand along with another $20 million from a separate, senior banking contribution.

Official Logo of Wells Fargo Bank, N.A.

In addition, the Board of Directors declared that it would offer up a one-time-only $0.12 a share cash dividend to stock holders. [7]

Today’s announcements demonstrate our confidence in the health of our business and its ability to deliver solid cash flows, as well as our commitment to rewarding our shareholders.  We continue to review the strategic use of our capital and are pleased to further reduce our outstanding debt and return capital to shareholders through this special dividend.”

-Walter F. Ulloa, Chairman and Chief Executive Officer

Stock Upgrade:

On December 4th, the investment website thestreet.com upgraded Entravision’s stock from a “sell” status to a “hold,” implying that the stocks have overall become more valuable and will, at least as projected, continue to improve in value.

The ratings site cites a number of reasons for the upgrade.  Entravision has slightly exceeded the average growth rate–15.8%–by achieving 16.7% growth in the last year.  As a result, the average earnings-per-share has increased considerable over the last year, an improvement that is considered indicative of overall improvement.

However, the website also cites a number of issues with Entravision stock.  Despite a high gross profit margin, Entravision’s net profit margin is an umimpressive 12.36%, which lags behind the industry average.  And despite maintaining a “very strong quick ratio of 2.87, which shows the ability to cover short-term cash needs, “debt-to-equity ratio is very high at 50.55 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company.”  Additionally, Entravision’s closing prices in the market have remained fairly consistent–neither increasing nor decreasing dramatically. [8]


In early August Entravision launched Luminar, an analytics company specifically geared towards the United States’ Hispanic market.  Luminar is a partership of Entravision and Impetus Technologies.  The project aims to create “a data driven organization, creating a cloud based data services platform, and creating new revenue streams focused on Hispanic consumers.”

Entravision presented the company at the Strata.Hadoop World Conference October 24.  The new division was unveiled as “the first Big Data analytics and modeling provider connecting marketeers with US Latino consumers. Luminar helps clients identify predictability models of consumer behavior to allow companies to reach, up-sell and retain Latino consumers more effectively.” [9]


[1]      Entravision Quarterly Report – Yahoo Finance

[2]      Entravision Company Website

[3]      Entravision Provides Expansive Election Coverage – Yahoo Finance

[4]      TV News Check

[5]      PR Newswire

[6]      Entravision Announces New Management Structure – Yahoo Finance

[7]      Entravision Partially Redeems Wells Fargo Notes – Yahoo Finance

[8]      TheStreet.com

[9]      LuminarInsights.com