Cumulus

Posted on April 8, 2013 by Joshua Campbell

by Josh Campbell

Cumulus Media, Inc.

3280 Peachtree Road, NW Suite 2300
Atlanta, Georgia 30305
TEL. (404) 949-0700
FAX. (404) 949-0740 [1]

Cumulus Media Logo [2]

1.0 Company Overview

Cumulus Media Inc. is the largest “pure-play” radio company in the United States, with roughly 550 stations in 110 cities, including major markets such as San Francisco, Houston, and Dallas. [3][4] Cumulus Media also operates Cumulus Media Networks, a network with over 4,500 radio affiliates to which Cumulus provides content [5]. Cumulus Media Networks syndicates talk shows by popular personalities like Dr. Sanjay Gupta, Mike Huckabee, Michael Savage, and Geraldo. [6] In addition to its radio holdings, Cumulus Media also owns SweetJack, a daily deals service similar to Groupon. [7] Cumulus is using its extensive radio network to market the relatively new SweetJack. [8]

2.0 Key People

Lewis W. Dickey [10]

Chairman, President, and CEO–Lewis Dickey: Lewis W. Dickey received his bachelor’s from Stanford University, and an MBA from Harvard University. In addition to serving in his current capacity at Cumulus Media, Mr. Dickey is also on the Board of Directors of the North American Broadcasting Co. and National Association of Broadcasters. [9]

Director–Alexis Glick: Alexis Glick received her bachelor’s degree from Columbia University and was previously employed as a Principal by CNBC, Inc., and as Vice President of Fox Business Network. [11]

3.0 Financials

3.1 Income Statement [12]

(2012): Revenue: $1,076,600,000 (+51.67%)

Gross Profit: $415,100,000 (+51.13%)

(2011): Revenue: $520,000,000 (+54.50%)

Gross Profit: $203,700,000 (+54.39%)

(2010): Revenue: $236,600,000 (-8.12%)

Gross Profit: $92,900,000 (+2.69%)

Cumulus Media has had several good years, with both revenue and gross profit rising by roughly fifty percent in 2012 and 2011. Much of this increase is likely due to a number of acquisitions that Cumulus has made recently, most notably its takeover of Citadel Broadcasting Corporation. [13] Cumulus is doing well when compared with what is arguably its biggest competitor, Clear Channel. Clear Channel Communications (CCC), while dwarfing Cumulus in revenue, earning $6,246,884 in 2012, lost money last year, pulling in a net income of -$425,500,000. [14]

3.2 Stock History and Target

Cumulus Media (NASDAQ: CMLS) started the year 2013 at 2.66, and has since risen to 3.28 as of April 5, 2013. On April 9, 2012, approximately this time last year, Cumulus Media was traded at 3.32. [15] This shows CMLS stock to be relatively stable in the long term, though there were some fluctuations in the short term. On November 27, Cumulus dipped to 2.16, its low point of this past year (Apr 2012-Apr 2013). Cumulus Media’s target for the end of the year 2013 is a stock price of 4.00. [16]

As a comparison, Clear Channel Communications (OTCBB: CCMO) is currently traded at 2.80. CCC’s stock price has decreased from a year ago, when it was traded at roughly 5.25. Over the past year, Clear Channel’s stock price has fluctuated to a far greater extent than that of Cumulus Media, hitting a high of 6.2 in late April and a low of 1.2 in late July [17]

4.0 Recent Activity

4.1 January

The beginning of 2013 saw legendary New York DJ Don Imus’s old contract with Cumulus expire. However, the well-known personality stayed on the air under new conditions specified in a deal inked with Cumulus in mid-December of 2012. [18]

Nash 94.7 Logo [23]

Possibly the company’s most publicized decision this year, the purchase of WFME from Family Stations for $40,000,000 allowed Cumulus to rebrand the previously religious station as NASH 94.7, a country music station–the first to serve the major New York City area in many years. [19][20] The station has proven that there was a latent market in NYC for country music; by March, NASH was already averaging 1 million listeners each week. [21] Cumulus CEO Lew Dickey has stated that he hopes NASH 94.7 will be just the start of a “multimedia entertainment brand” including not only radio, but also television, online, and publishing. He stated that this will help draw advertisers to the brand by offering one stop shopping for cohesive advertising on all platforms. [22]

4.2 February

Cumulus Media Networks signed a deal to distribute college football broadcasts by Gino Torretta, a former college athlete who currently provides play-by-play and commentary on a college football game each week. [24]

4.3 March

In March, 2013, Cumulus Media had its earning call for Q4 2012, which showed the net income of the company dip slightly, as many analysts had predicted. [25][26][27] Despite this, the stock price of Cumulus Media did not decrease significantly. [28]

4.4 April

In April, 2013, it was reported that the Senior Vice President, Treasurer, and CFO of Cumulus Media, Joseph P. Hannan, purchased 25,000 shares of Cumulus stock at the market price of $3.30 per share. This most recent purchase increases his total holdings in the company to 70,943 shares. [29] Insiders in Cumulus Media tend to buy CMLS stock in far greater quantities and with far greater frequency than competing company’s executives buy their respective company’s stock. This is seen as a good sign by many analysts. [30]

5.0 Future Plans

Lewis Dickey, the CEO of Cumulus Media, recently conducted a series of interviews with Bloomberg TV about the future of Cumulus Media and of the radio industry in general. Mr. Dickey was excited about the future of SweetJack, the previously mentioned daily deals service that Cumulus Media just started offering. Cumulus is optimistic about the future of SweetJack, believing that the “daily-deals” style business model is essentially a sound one. Cumulus has partnered with Clear Channel to air ads for SweetJack on the latter’s stations as well as Cumulus’s own affiliates. [31]

Cumulus hopes SweetJack will allow them to tap into the daily deals market [35]

Dickey also stated that he believes the radio industry is headed towards more consolidation of ownership, made possible by the Telecommunications Act of 1996. Responding to that trend in the industry, Cumulus is planning new acquisitions in the near future. [32] Cumulus industry has been keen on acquiring stations in the past, having orchestrated over 150 acquisitions since their founding in 1997, including the 2011 buyouts of Cumulus Media Partners, LLC and Citadel Broadcasting, which added 32 and 225 stations to Cumulus’s total amount, respectively. [33][34]

The future looks bright for Cumulus Media; The estimated earnings growth for the next fiscal year for Cumulus, at 83.9% are the highest among several large communications companies, including Discovery Communications, Scripps Communications, and CBS. [36][37]

Sources:

[1] http://www.cumulus.com/contact-us/

[2] http://www.allaccess.com/assets/img/editorial/raw/cu/cumulus2011.JPG

[3] http://www.cumulus.com/local-radio-2/

[4] http://www.cjr.org/resources/?c=cumulus

[5] http://www.cumulus.com/cumulus-media-network/

[6] http://affiliates.cumulusmedianetworks.com/

[7] http://www.sweetjack.com/local/

[8] http://www.clarkhoward.com/news/clark-howard/shopping-retail/sweetjack-heats-daily-deal-marketplace/nF3qr/

[9] http://quotes.wsj.com/CMLS/company-people/executive-profile/115649131?mod=WSJ_qtpeople_dir#less

[10] http://sportsrantz.com/media/files/2012/10/Dickey.png

[11] http://quotes.wsj.com/CMLS/company-people/executive-profile/66954?mod=WSJ_qtpeople_dir#less

[12] http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=CMLS&dataset=incomeStatement&period=A&currency=native

[13] http://www.businesswire.com/news/home/20110916005528/en/Cumulus-Media-Announces-Completion-Acquisition-Citadel-Broadcasting

[14] http://edgar.secdatabase.com/1389/73970813000003/filing-main.htm

[15] http://www.dailyfinance.com/quote/nasdaq/cumulus-media-inc/cmls“`

[16] http://www.nasdaq.com/symbol/cmls#.UWJhJavwL-s

[17] http://www.otcbb.com/asp/Info_Center.asp?symbol=ccmo

[18] http://mediadecoder.blogs.nytimes.com/2012/12/11/don-imus-signs-a-3-year-extension-for-his-radio-show/?ref=cumulusmediainc

[19] http://www.radioink.com/Article.asp?id=2602813&spid=24698

[20] http://www.allaccess.com/net-news/archive/story/114116/done-deal-cumulus-closes-on-wfme

[21] online.wsj.com/article/SB10001424127887323605404578382622285255296.html?KEYWORDS=cumulus+media

[22] http://www.youtube.com/watch?v=Kay-KNEIh38

[23] http://www.mediabistro.com/fishbowlny/files/2013/01/Nash947.jpg

[24] http://www.allaccess.com/net-news/archive/story/115585/cumulus-media-networks-to-distribute-touchdown-rad

[25] http://www.rttnews.com/2078870/cumulus-media-q4-loss-widens.aspx?type=bn

[26] http://www.dailyfinance.com/2013/03/13/what-does-wall-street-see-for-cumulus-medias-q4/

[27] http://seekingalpha.com/article/1284161-cumulus-media-s-ceo-discusses-q4-2012-results-earnings-call-transcript

[28] http://finance.yahoo.com/q?s=CMLS

[29] http://www.allaccess.com/net-news/archive/story/117089/cumulus-media-cfo-buys-25-000-shares-of-company-st

[30] http://www.nasdaq.com/article/cumulus-media-reports-cfo-buy-cm233440#.UWJ1OKvwL-s

[31] http://www.bloomberg.com/video/82123364-dickey-says-radio-industry-is-fragmented.html

[32] http://www.bloomberg.com/video/92870009-cumulus-planning-more-acquisitions-ceo-dickey-says.html

[33] http://www.businesswire.com/news/home/20110131007293/en/Cumulus-Media-Enters-Agreement-Acquire-Cumulus-Media

[34] http://www.forbes.com/2011/03/10/cumulus-media-to-acquire-citadel-broadcasting-marketnewsvideo.html

[35] http://nikigsbootcamp.com/wp-content/uploads/2011/11/sweetjack.jpg

[36] http://www.fnno.com/story/fast-lane/331-cumulus-media-has-highest-future-earnings-growth-broadcasting-industry-cmls-disca-cbs-auto-generated

[37] http://www.mysmartrend.com/news-briefs/news-watch/cumulus-media-has-highest-future-earnings-growth-broadcasting-industry-cmls–3

Radio One

Posted on April 8, 2013 by Charles Gilbert

by Charles Gilbert

Website: http://www.radio-one.com

1010 Wayne Ave.

Silver Spring, MD 20910

A Brief Overview [1] [2]:

Radio One is a multi-media company whose content is mainly targeted at the African American and urban based consumer markets. Their primary business focus lies in their radio broadcasting franchise, which owns 55 broadcast stations operating out of 15 major urban markets throughout the United States. However, in more recent years they have expanded outside radio into the television industry with TV One, into online social media platforms with Interactive One, and strengthened their African American-based, urban brand through companies like Reach Media. Radio One claims to successfully reach 82% of the African American demographic with this multimedia approach.

History [1]:

Radio One (originally known as Almic Broadcasting) was founded in 1979 by Catherine and Dewey Hughes. In 1980, they purchased their first AM radio station, WOL 1450, and strategically re-formatted the then-R&B station into the first African American centric 24-hour talk radio station. In 1987, they acquired their first FM station, WMMJ, and cemented Radio One’s reputation as an essential African American broadcast media outlet. 2004 marked the widening of Radio One’s business spectrum through the establishment of their first television channel, TV One. Later years saw the development of Interactive One, a digital, online platform meant to engage African American and Latino audiences through social media.

-Alfred C. Liggins III [5]

-Catherine L. Hughes [4]

Key Executives [3]:

Catherine L. Hughes– Founder, Chairperson of the Board and Secretary

Alfred C. Liggins III– Chief Executive Officer, President and Treasurer

Peter D. Thompson-Executive Vice President and Chief Financial Officer

Linda J. Vilardo– Vice President. Assistant Secretary and Chief Administrative Officer

Company Divisions [1]:

[6]

Radio One’s broadcast stations operate out of 15 major urban centers throughout the US, including: Atlanta, Baltimore, Washington DC, Charlotte, Cincinnati, Cleveland, Columbus, Dallas, Detroit, Houston, Indianapolis, Philadelphia, Raleigh-Durham, Richmond, and St. Louis. Station formats range from R&B to Gospel, Inspirational Praise to Talk Radio, and Oldies to Adult Contemporary. [7]

Starting in the early 2000s, along with the founding of the cable television network TV One in 2004, Radio One began investing in media platforms outside of the radio industry.

[8]

The TV One cable network currently serves a combination of reality television, original and licensed sitcoms, feature length films, and other entertainment programming appealing to the African American perspective to over 57 million households. TV One’s most popular program is Unsung, a music biography series chronicling the lesser known stories of famous R&B and soul musicians. Other popular shows include R&B Divas, The Rickey Smiley Show and TV One’s first scripted series Love That Girl: [9]

[10]

[11]

In 2008, in order to attract the increasing population of online users, Radio One launched Interactive One, the first major online platform targeted specifically at the African American and urban communities. Interactive One is a multi-faceted, multi-platform outlet for social interaction, information, news, and entertainment content for the Black community. Interactive One also has a heavy focus on brand development, which manifests in their niche news, beauty, and lifestyle websites including: NewsOne, HelloBeautiful and TheUrbanDaily. [12]

Also under the Interactive One company operates Community Connect, a social networking company, whose minority-aimed, social community sites include BlackPlanet, MiGente and Asian Avenue. All of these attempt to provide a much sought-after online platform for urban markets to connect through, while creating a more accessible, cultivated target for advertisers attempting to effectively reach the urban and African American markets. [1]

[14]

Finally, Radio One also owns and operates Reach Media, the home of The Tom Joyner Morning Show, the single largest urban-targeted radio show in the US. The syndicated show draws an audience of over 8 million listeners in more than 105 unique markets, statistically reaching about 1 in 4 African Americans nationwide. Reach Media has also aggregated a substantial online presence, with more than 1.5 million registered users on the Blackamericaweb.com website. [15]

Financials (For 2012) [16]:

Revenue: $424,573,000
[17]
Operating Income: $353,058,000
Total Assets: $1,460,770,000
Share Price [ROIAK]: $1.74

Notable Developments:

Television One division saw a 6.8% increase in revenues from 2011
Core radio revenues up 11%
Adjusted EBITDA for Radio Division increased by 33% from 2011

View Official Financial Reports

Recent News:

January 3rd, 2013- Television One announced a change for their First Quarter Primetime Programming Lineup. Find Our Missing, a docu-drama produced in association with the Black and Missing Foundation, Inc., featuring Law & Order actress S. Epatha Merkerson, shifted from Wednesday nights at 9 pm to Mondays at 9 pm. The docu-series Unsung premiere was moved to Wednesday the 23rd at 10 pm. The season premiere of Belle’s was shifted to Friday, February 1st at 10 pm. [18]

[19]

March 11th, 2013- Radio One signed an affiliation agreement with Telemundo which reformatted the Indianapolis television station WDNI into a Telemundo affiliate. The television channel now carries Telemundo’s complete line-up of Spanish-language programming, including sports, news, entertainment, all of which will fulfill the Hispanic demand for more Spanish-friendly entertainment options in the Indianapolis market. [20]
March 25th, 2013- TV One premiered a new docu-drama series titled Deceived. This new series explores through 7 episodes the true stories of the struggle and pain of victims who fall prey to villains posing as a doctor, a con-real estate agent, a sinister husband, a fake police officer, a smooth swindler, a tooling sports agent, and a woman who steals from her church. Deceived is produced by Juma Entertainment. [21]

Future Endeavors:

TV One’s hit series R&B Divas was renewed for a second season. The reality television series began production in early January, and will feature two new artists Angie Stone and LaTocha Scott, in addition to the original cast of Faith Evans, Nicci Gilbert-Daniels, Monifah Carter, Syleena Johnson and Keke Wyatt as they strive to produce a compilation album. The second season is set to premiere on May 1st, 2013.
Additionally, TV One plans to capitalize on the success of the original series with a spin-off series, R&B Divas: LA. It will chronicle the lives of five LA-based R&B artists Kelly Price,Chante Moore, Lil’ Mo, Claudette Ortiz, Michel’le and Dawn Robinson, as they work their way through their music careers. The spin-off series is slated to premiere in Q3 2013. The Divas series are produced by ThinkFactory Media. [22]

[23]

TV One also has renewed The Rickey Smiley Show, which gained the cable channel its highest network ratings to date with its premiere in Summer 2012. The comedy TV show is losely based on the life of comedian and syndicated radio personality Rickey Smiley, as he tries to balance his wild professional career and turbulent family life. In the vein of other notable African American comedians such as Eddie Murphy and Tyler Perry, one of Smiley’s comedic staples is the fact that he plays multiple characters such as “Mrs. Bernice Jenkins,” “Joe Willie” and “Beauford.” The 26-episode order will start production with in late April, and is slated to premiere in summer 2013. [24]

[25]

References:

[1] http://www.radio-one.com/about-us/

[2] http://www.fundinguniverse.com/company-histories/radio-one-inc-history/

[3] http://www.radio-one.com/about-us/who-we-are/

[4] http://womeninbusiness.about.com/od/workattireandetiquette/ig/Hairstyles-for-Black-Women/Catherine-L–Hughes.htm

[5] http://interactiveone.com/archives/307

[6]/[7] http://www.radio-one.com/our-properties/radio-one/

[8] http://www.hollywoodreporter.com/news/tv-one-rebrand-life-after-unsung-340294

[9] http://www.tvoneonline.com/inside-tv-one/about-tv-one.html

[10] http://www.youtube.com/watch?v=nlAi7btLqOc

[11] http://interactiveone.com/archives/135#!prettyPhoto

[12] http://interactiveone.com/about#!prettyPhoto/0/

[14] http://www.radio-one.com/our-properties/reach-media/

[15] http://www.reachmediainc.com/

[16] http://finance.yahoo.com/news/radio-one-inc-reports-fourth-114500346.html

[17] http://ycharts.com/companies/ROIAK/price

[18] http://www.radio-one.com/2013/01/03/tv-one-annouces-changes-to-first-quarter-2013-primetime-lineup/

[19] http://www.blackcelebritygiving.com/2012/10/tv-one-green-lights-acclaimed-docu-series-find-our-missing-for-a-second-season/

[20] http://www.radio-one.com/2013/03/06/radio-one-launches-telemundo-affiliate-in-indianapolis/

[21] http://www.radio-one.com/2013/02/25/tv-one-announces-new-docu-series-deceived-to-premiere-monday-march-25-2013-at-900-pm-et/

[22] http://www.radio-one.com/2013/01/22/tv-one-renews-hit-series-rb-divas-and-announces-new-los-angeles-franchise/

[23] http://www.youtube.com/watch?v=ONmquFjmPl8

[24] http://www.radio-one.com/2013/03/18/tv-one-orders-more-comedy-with-second-season-pick-up-of-hit-sitcom-the-rickey-smiley-show/

[25] http://rickeysmileymorningshow.com/776871/the-rickey-smiley-show-episode-1-video/

Entercom

Posted on April 8, 2013 by Jasmine Holloway

Entercom Logo [1]

Jasmine Holloway

Contact: 401 City Ave., Suite 809 Bala Cynwyd, PA 19004

Tel: 610-660-5610 ~ Fax: 610-660-5620

Web: www.entercom.com ~ Twitter: @Entercom

Overview:

Entercom Communications Corporation is one of the largest US radio broadcasting companies. Boasting 121 stations across 23 markets, Entercom is dedicated to providing listeners compelling content through music, news, and talk formats. It is also the official broadcaster for major league sports franchises such as Memphis Grizzlies, Boston Red Sox, New Orleans Saints and Hornets, and more. [2]

The company, led by President and CEO, David Field, relies on its 1,400 full-time and 800 part-time employees for day-to-day operations. [3] Entercom focuses on offering advertisers marketing strategies to reach large targeted audiences. In recent years, Entercom has increased its digital presence and has offered media clients multiple platforms for more successful advertising campaigns.

History:

Entercom began in 1968 when Joseph M. Field gave up law to enter the broadcasting business. Convinced in the future of FM radio , Field founded Entertainment Communications Inc. and began with three radio stations in Philadelphia. In 1973, the company entered into what would become one of its most important markets, Seattle. [4]

Joseph Field [5]

Field continued to grow the company slowly until the passing of the prominent Telecommunications Act of 1996. The Telecom Act enabled companies to have as many as eight stations in a single market. Backed by this legislation, Entercom entered into a trade deal with Viacom swapping a NYC station for three Seattle stations and becoming the eighth largest radio broadcasting company. [4]

1999 saw the company going public and receiving about $236 million in its initial public offering. This year also saw the company acquiring Sinclair Broadcasting Group. The deal gave the company an additional 46 stations in nine markets. This made Entercom the fifth largest US radio broadcasting company with 88 stations in 17 markets. [4]

Since then, the company has continued to grow into the 121-station group it is today. Larger markets such as Seattle provide a financial foundation for the company, complemented by smaller markets such as Buffalo. [4] “Entercom generally wants to be the big fish in medium sized markets than a small fish in a major market.” [6]

Key Executives [7]

David Field, Pres. and CEO

David Field, CEO

Steve Fisher, CFO and Exec. VP of Operations

Weezie Kramer, Station Group President

Andrew Sutor, Sr. VP and General Counsel

Pat Paxton, Sr. VP of Programming

Deborah Kane, Regional Pres.

Michael Doyle, Regional Pres.

Financials (NYSE: ETM)

The company’s major revenue source comes from local and national advertising sales. 50% of Entercom’s 2012 net revenues came from 7 of its 23 markets: Boston, Denver, Kansas City, Portland, Sacramento, San Francisco, and Seattle. 2012 net revenues totaled $388.9 million, a 1.6% uptick. Revenues increased primarily from station reformats in 2011, political advertising, and 2012 acquisitions. The company lowered its operating expenses by 4%. [9]

Currently, the earnings per share are 1.0700. Earnings from Q1 2013 will be released May 8, 2013. [10] Click here for full 2012 financial report.

News

April 2013

4/3: Triton Releases February Webcasting Ranks – Entercom #10

Entercom ranks #10 in Triton Digital’s monthly online audio Top 20 ranker. It lists “top performing” Internet stations and networks. [11]

4/1: Entercom Joins Triton Digital’s a2x Platform

a2x [12]

Entercom becomes an early adopter of Triton Digital’s a2x platform. [13] a2x is an “audience-based programmatic buying platform.” Real-time bidding on targeted online and mobile audio ads allow for more effective managing, buying, and selling of third party ads. [14]

March 2013

3/26: Weezie Kramer Named Station Group President

Weezie Kramer [15]

Weezie Kramer is now one of the highest-ranking women in radio with her promotion to the newly created Station Group President. Her responsibilities would include overseeing Regional Presidents Michael Doyle and Deborah Kane and becoming the chair of the company’s operating committee. Abandoning the previous model of three Regional Presidents, the position was created to streamline operations and provide company-wide cohesiveness under a single operational leader.

Weezie is very excited to begin the duties of her role stating, “Having the opportunity to lead this team will be fun.” [16]

3/19: Entercom Dominates BEMAs

Entercom is leading the way with the most nominations for 2013’s Buffalo’s Excellence in Media Awards (BEMAs) which will take place on April 26, 2013. Entercom’s WGR Sports Radio 550 has the most nominations including Radio Station of the Year. WBEN’s Tom Puckett is nominated for Radio Personality of the Year and Sue Sullivan is nominated for Sales Executive of the Year. [17]

3/12: Rick Crandall Named Colorado’s Broadcaster of the Year

KEZW’s program director and host of “The Breakfast Club”, Rick Crandall, was named Broadcaster of the Year by the Colorado Broadcaster Association. Rick’s show is one of the top rated Adult Standards morning shows in the nation. In addition to providing entertainment, Rick has helped to raise $2 million to begin construction of the Colorado Freedom Memorial, which commemorates over 6,000 Colorado soldiers. [18]

3/4: Entercom Wins at Radio Ink Convergence Awards

After 12 of its stations were nominated for Radio Ink Convergence Awards, Entercom’s WKSE/Buffalo takes home Best Website 51+. With the company’s focus on its digital properties in 2013, next year may see the company taking home more awards. [19]

February 2013

Jelli [20]

2/28: Entercom Teams Up With Jelli

Digital radio platform, Jelli partners with Entercom to set up is platform in 104 of the company’s stations across its 23 markets. This would make Jelli available on 175 stations in 50 markets. Currently, Jelli boasts 23.5 million unique weekly listeners and 1.7 billion radio ad impressions. [21]

Jelli’s on-demand streaming service is delivered via a server installed in local broadcast towers. Users vote and decide programming. The platform takes away the need for DJs, infrastructure, ad sales team and royalty issues. [22]

2/27: Entercom PDs Named Best in Country Music

Entercom Portland’s Mike Moore and Seattle’s Mike Preston were ranked #3 and #7, respectively, by Radio Ink Magazine’s top 25 program directors for country music. [23]

2/4: Boston Celtics Radio Broadcasts Now on Multi-Platforms

Celtics fans can now stream free, live audio of game broadcasts via WEEI.com, WEEI Live

Celtics [24]

mobile app, Boston Celtics Mobile App, and the TuneIn App. [25] The move expands the company’s digital reach and appeals to the modern sports fan on the go.

January 2013

1/8: Game Time

Entercom CEO, David Field, sends a company-wide memo to inform employees that 2013 is “game time.” Following 2012, which saw the company make multi-million dollar deals and an unorthodox master royalties agreement with Glassnote and Big Machine Records, Field wanted to assure his employees of another successful year. The memorandum mentions the 30 million Americans who tune in weekly and engage digitally; strengthening existing partnerships; and Nielsen’s $1.26 billion Arbitron buyout which shows a growing future in radio. Field seems optimistic for the year ahead and hopes to keep Entercom leading the technological curve. [26]

Resources:

[1] Logo – http://images.wikia.com/logopedia/images/8/8b/Entercom_Communications_logo.png

[2] http://www.entercom.com/about-us

[3] Report – http://www.entercom.com/wp-content/uploads/2012/10/Entercom2012Annual_Report_To-Shareholders.pdf

[4] History – http://www.fundinguniverse.com/company-histories/entercom-communications-corporation-history/

[5] Joseph Field – http://thenowexplosion.com/joseph_field.jpg

[6] History – http://streamingradioguide.com/blogradio/?page_id=1250

[7] [8] Executives – http://www.entercom.com/about-us

[9] Report – http://www.entercom.com/wp-content/uploads/2012/10/Entercom2012Annual_Report_To-Shareholders.pdf

[10] Bloomberg – http://www.bloomberg.com/quote/ETM:US

[11] All Access – http://www.allaccess.com/net-news/archive/story/117058/triton-digital-february-webcaster-rankers-released?ref=search

[12] a2x- http://sphotos-b.xx.fbcdn.net/hphotos-ash3/c0.0.403.403/p403x403/537337_462494273799541_563623873_n.png

[13] Ent. Close Up – http://search.proquest.com/docview/1321760511

[14] Ad Operations – http://www.adoperationsonline.com/2013/04/02/entercom-communications-brings-leading-stations-to-triton-digitals-a2x-programmatic-buying-platform-for-online-mobile-audio-ads/

[15] Weezie – http://img857.imageshack.us/img857/7845/louisekramer.png

[16] Kramer – http://www.entercom.com/category/company-news

[17] BEMAs – http://www.wben.com/WBEN-s-Tom-Puckett-Up-For-Radio-Personality-of-Yea/15834594

[18] Rick Crandall – http://www.entercom.com/radio/kezw/rick/crandall/colorado

[19] Convergence Awards – http://www.radioink.com/article.asp?id=2624727&spid=24698

[20] Jelli – http://images.radcity.net/5173/3741424.gif

[21] Jelli/Entercom – http://search.proquest.com/docview/1315784391

[22] Jelli – http://pandodaily.com/2013/02/28/with-23-million-weekly-listeners-digital-radio-platform-jelli-partners-with-entercom-to-supercharge-distribution/

[23] Country – http://www.radioink.com/Article.asp?id=2622354&spid=24698

[24] Celtics Image – http://www.wggb.com/wp-content/uploads/2012/12/Boston-Celtics.gif

[25] Multi-Platform – http://www.entercom.com/radio/boston/celtics/nba/mobile

[26] Memo – http://www.radioink.com/Article.asp?id=2602585&spid=24698

ABC Radio/Radio Disney

Posted on April 8, 2013 by Lindsay Dworman

                        by Lindsay Dworman

HISTORY

In 1943, ABC Radio was born. It all began when RCA, the Radio Corporation of America, sold “The Blue Network” to Edward J. Noble. Noble then changed the name of “The Blue Network” to the “American Broadcast Company”. Ten years later, in 1953, ABC merged with United Paramount Theaters. The merger was brought on in order to build up ABC and create a more powerful company that could become a stronger competitor in the Broadcast market. In 1996, The Walt Disney Company acquired ABC Radio. In 2005, most of ABC Radio was sold to Citadel. Twenty-two stations were sold to Citadel and the only remaining radio broadcast channels under The Walt Disney Company were Radio Disney and ESPN. Everything else the was previously ABC Radio went to Citadel. In 2011, Citadel dissolved as a company due to financial problems and was bought by Cumulus Media Group. Presently, Disney owns Radio Disney and ESPN Radio, and Cumulus Media owns all of ABC Radio’s other holdings. [1]

CUMULUS MEDIA GROUP

Cumulus Media Group owns and operates two different divisions of radio. Their first radio subdivision is Cumulus Radio. Cumulus radio is home to 525 radio stations, making them the second largest local radio company in the United States. Cumulus’ mission is:

“Cumulus Radio strives to create the next generation radio broadcasting enterprise. By leveraging great people and technological excellence, we provide high quality local programming choices for our listeners; targeted audiences with disposable income for our advertisers; and rewarding career environments for our employees. [3]

Cumulus Media Group also has another subdivision, Cumulus Media Networks. Cumulus Media Networks is the network division of Cumulus and it is home to more than 4,500 affiliate radio stations and 31 national networks. Cumulus Media Networks prides itself on “developing and syndicating big brands that connect with listeners”. They host a variety of shows including: CBS Sports Radio, ABC News Radio, The Mike Huckabee Show, The Mark Levin Show, and many more. According to their website, the benefits of network radio are as follows:

“Network radio allows advertisers to combine national coverage with pinpoint targeting of virtually every desirable demographic and lifestyle. From an economic perspective, this channel delivers significant efficiencies to national advertisers – leveraging their budgets with unsurpassed media reach and frequency.” [4]

THE WALT DISNEY COMPANY

The Walt Disney Company has many divisions and sub-divisions. All of ABC Radio’s assets that were acquired by Disney fall under the Media Network’s division of The Walt Disney Company. Radio Disney Falls under the Disney/ABC Television Group subdivision of Media Networks, ESPN Radio falls under the ESPN subdivision, and ABC News Radio falls under the ABC News subdivision. ABC News Radio is also a station in partnership with Cumulus Media Networks. [5]

HOLDINGS

One of ABC Radio’s holdings that wa acquired by Disney is “Radio Disney”. Radio Disney is the premiere radio station for young children. The station is 24-hours a day and hosts pop/contemporary music. Artists featured on Radio Disney include young pop artists as well as artists that are linked to Disney Channel. Other than purely playing music, Radio Disney also features many other components. An example of this was the talent competition they hosted , Disney’s “Next BIG Thing”. Radio Disney also has a CD selling franchise that is operated through Walt Disney Records. [6][7]

ESPN Radio is the premiere sports news radio station in the United States. Not only does ESPN Radio feature radio but also podcasts, an interactive website, and a spanish version of the station, ESPN Deportes. ESPN features talk shows as well as streaming MLB, NFL, NBA, NHL, NCAAF, NCAAM, Nascar, Soccer, and many other games live. ESPN “is the leading multinational, multimedia sports entertainment company featuring the broadest portfolio of multimedia sports assets with over 50 business entities”, according to the bio on Disney’s corporate website. [8]

ABC News Radio is the other major station of ABC Radio. It is currently owned and operated by Cumulus Media. The station reports on national news, world news, politics, business, entertainment, and health. ABC News Radio prides itself on providing its listeners with “the latest information and analysis of major events to bring viewers a big picture understanding of the world.” [9]

FINANCIALS

Radio Disney and ESPN, are owned and operated by The Walt Disney Company. The following is information from Disney’s latest annual finance report for their shareholders [10]:

Revenue: $40,893,000,000
Net Income: $4,807,000,000
Income from Continuing Operations: $5,258,000,000
Total Assets: $72,124,000,000
Disney Shareholders Equity: $37,385,000,000

In terms of narrowing down how much of this is attributed to ABC Radio, Disney’s Media Networks division’s revenue was $18,714,000,000 alone, and an operating income of $6,146,000,000.

The following is the financial information for Cumulus Media as of December 31, 2012 [11]:

Total Revenue: $1,076,600,000
Gross Profit: $415,100,000
Operating Income: $211,900,000

KEY PEOPLE

Lewis W. Dickey, Jr. – Chairman, President, and CEO of Cumulus Media
Jonathan G. Pinch – EVP and COO of Cumulus Media
John W. Dickey – EVP and Co-COO of Cumulus Media
Anne Sweeney – Co-Chair of Disney Media Networks, President of Disney/ABC Television Group

Ben Sherwood – President, ABC News

WHAT’S HAPPENING NOW?

Many new things are happening in regards to Radio Disney, ABC News Radio, and ESPN Radio.

Recently, ABC News Radio has been updating the content they cover. To start, they have begun updating listeners on the latest in technology and mobile devices. Also, the station has recently begun a segment on “going green”. ABC News Radio now gives environmental news as well as partners with companies that take initiative and promote “going green”. [9]

Radio Disney has been doing many new things in order to be interactive with their audiences. To start, Radio Disney has started a competition called Radio Disney’s Next BIG Thing, also referred to as “N.B.T”. The premise of this programming is a talent competition in which the station’s listeners vote for one artists out of a select few to become the “Next BIG Thing”. Another venture the station hosts is its own music award show. Listeners can go online vote for the artists, albums, and songs they want to win on the Radio Disney website. [12]

Radio-Disney-Next-Big-Thing

WORKS CITED

Clear Channel Communications

Posted on April 8, 2013 by Sarah Arlotto

by Sarah Arlotto

Clear Channel Communications’ logo- courtesy of clearchannel.com

Company Information

http://www.clearchannel.com

Address: 200 East Basse Road, San Antonio, Texas, 78209

Telephone: (210) 822-2828

A Brief History and Overview

Clear Channel Communications, Inc. was founded in 1972 with the purchase of its first FM radio station in San Antonio, Texas. After expanding throughout Texas, and then globally, Clear Channel has become one of the world’s largest media and entertainment companies. Besides Clear Channel’s Media & Entertainment sector, it also has an outdoor advertising division called Clear Channel Outdoor. Clear Channel Outdoor has over one million displays in over 30 countries. Clear Channel aims to be America’s only radio company that offers local presence with national reach and to develop innovative and dynamic campaigns for advertisers.[1]

Clear Channel Media and Entertainment

With 850 radio stations broadcast to over 150 markets, Clear Channel reaches over 243 million listeners every month and has a greater reach than any other radio or television outlet in the United States. They deliver a variety of content including music, news, talk, sports, and comedy, on a number of platforms such as AM/FM stations, in-vehicle satellite radio, HD radio, and online radio. Clear Channel also offers a digital music service called iHeartRadio. It is free and can be accessed through online internet streaming and through a mobile app. iHeartRadio gives listeners access to over 1,500 live radio stations and the opportunity to create customized stations based on their artist and song and genre preferences. Clear Channel also offers live music events such as their annual iHeartRadio Music Festival.[1]

What Is iHeartRadio? [13]

Key Executives

Bob Pittman [2]

Bob Pittman is Clear Channel Communications’ Chief Executive Officer.[2]

Tom Casey [2]

Tom Casey is Chief Financial Officer and Executive Vice President of Clear Channel Communications.[2]

Wendy Goldberg [2]

Wendy Goldberg serves as Chief Communications Officer and Senior Vice President for Clear Channel Communications. She oversees and executes strategic communications for all of the Clear Channel Brands.[2]

Robert H. Walls, Jr. [2]

Robert H. Walls, Jr. is General Counsel and Executive Vice President of Clear Channel Communications. He oversees the legal and government affairs departments within the company.[2]

John Hogan [2]

John Hogan is the Chairman and Chief Executive Officer of Clear Channel’s Media and Entertainment Division. He oversees the development and organization of Clear Channel’s radio stations.[2]

John Skyes [2]

John Skyes is the President of Entertainment Enterprises for Clear Channel. He helps to develop new business for Clear Channel Communications. He is also on the board of many organizations including Syracuse University’s Newhouse School of Public Communications.[2]

Financials

Clear Channel Communications is a privately traded company. Shares of their parent company, CC Media Holdings, Inc. are traded under the ticker symbol CCMO. Clear Channel Outdoor Holdings, Inc. is traded separately under the ticket symbol CCO.[3]

CCMO’s revenues have been increasing slowly since December 31, 2009. The recorded revenues for December 31, 2012 were $6,246.9 million. Operating expenses have also been on a steady increase. Since December 31, 2009 CCMO has also been experiencing a net loss of income every year. The net income recorded for December 31, 2012 was $424.5 million. This loss of income can be explained by rising operating expenses and only a very small increase in revenues.[4]

In the News

January: On January 7^thClear Channel Media and Entertainment updated their iHeartRadio app. They added a “Perfect For” feature that will allow users to choose a playlist based on their current mood or activity. They have also added an alarm clock and a sleep timer feature to the application, making it so iHeartRadio can be the first thing that listeners hear when they wake up in the morning and the last thing they hear before they fall asleep at night.[5]

Clear Channel’s iHeartRadio app “Perfect For” feature [15]

Clear Channel also announced that iHeartRadio will be made compatible in Chrysler Group and General Motors Company vehicles. The new made-for-driving application will be called “iHeartAuto” and will make it easier and safer for users to listen to their favorite radio stations and artists straight from their car.[6]

February: On February 11^th Clear Channel Media and Entertainment released their findings from recent research study that concluded that by reallocating a small amount of money to radio advertising can help companies increase their brand’s reach. These findings are explained by the notion that radio reaches an audience that is more receptive and open to marketing ideas and suggestions.[7] On February 13^th Clear Channel announced that they have a new partnership with Robbins Entertainment, a music label. As part of the deal, Clear Channel will be sharing all of its radio revenues as well as its digital broadcast revenues with the artists under the Robbins Entertainment label. Clear Channel has closed similar deals over the past few months with other record labels.[8]

March: On March 11^th Clear Channel unveiled an “Add-Ins” feature to their iHeartRadio app. This feature will allow listeners to insert local news, weather, and traffic to their custom stations. This innovation will allow Clear Channel to grow as a national radio provider while still localizing and personalizing their services.[9] On March 15^th Clear Channel announced their partnership with Target to promote Justin Timberlake’s new album: “The 20/20 Experience.” Together, Target and Clear Channel will host an iHeartRadio album release party on March 18^th. 120 lucky winners will be flown to Los Angeles for the event.[10]

“The 20/20 Experience” album release party [16]

On March 28^th Clear Channel announced that their annual iHeartRadio Music Festival will be held at the MGM Grand in Vegas for its third year. Part of the festival includes the Macy’s iHeartRadio “Rising Star Campaign” where 25 new artists compete for a spot in the festival alongside big names in the industry. Clear Channel also puts on a “Road to Vegas” campaign to promote the event, where hundreds of listeners will be awards trips to the concert. The event will take place September 21 and 22, 2013.[11]

Voting page for Macy’s Rising Star Campaign [13]

April: On April 1^st Clear Channel Media and Entertainment announced a partnership with Big Machine Label Group. Together the two companies will release The Band Perry’s second album, called PIONEER. The idea of the campaign is to increase audience awareness through an on-air Artist Integration Program to introduce the new album to listeners. The campaign will also include on-air interviews with the artists and a live performance.[12]

The Band Perry [17]

References

[1] http://www.clearchannel.com/Corporate/Pages/about.aspx

[2] http://www.clearchannel.com/Corporate/Pages/our-team.aspx

[3] http://www.clearchannel.com/Investors/Pages/faq.aspx

[4] http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=CCMO

[5] http://www.clearchannel.com/Pages/IHeartRadio-Unveils-New-“Perfect-For”-Feature—Now-Users-Can-Listen-To-Stations-Based-On-Their-Moods-And-Activities.aspx

[6] http://www.clearchannel.com/Pages/iHeartRadio-Expands-Its-Reach-Across-The-Automotive-Industry-With-Integrations-in-Chrysler-Group-and-General-Motors-Vehicle.aspx

[7] http://www.clearchannel.com/Pages/Research-Shows-That-Mix-Of-Radio-And-Tv-Gives-Advertisers-Bigger-Bang-For-Their-Buck.aspx

[8] http://thenextweb.com/media/2013/02/13/clear-channel-will-share-digital-radio-revenues-with-robbins-entertainments-music-artists/

[9] http://finance.yahoo.com/news/iheartradio-introduces-local-news-traffic-130000770.html

[10] http://www.webwire.com/ViewPressRel.asp?aId=171678

[11] http://www.billboard.com/biz/articles/news/branding/1554919/clear-channels-iheartradio-music-festival-announces-return-to

[12] http://www.clearchannel.com/Pages/Clear-Channel-Media-and-Entertainment-and-Big-Machine-Label-Group-to-Launch-Artist-Integration-Program-Around-The-Band-Perr.aspx

[13] http://macys.iheart.com/macys/

[14] http://www.youtube.com/watch?v=ZhQSr2SugXA

[15] http://www.allaccess.com/net-news/archive/story/113908/iheartradio-unveils-perfect-for-feature-based-on-l

[16] https://www.facebook.com/iheartradio

[17] http://www.countrymusicislove.com/category/the-band-perry

Cox Media Group/Cox Enterprises

Posted on April 7, 2013 by Autumn Boatner

Autumn Boatner

http://www.coxmediagroup.com/

Headquarters Contact Info: 6205 Peachtree Dunwoody Rd.
Atlanta, GA 30328
(678) 645-0000

Overview [1]

Cox Media Group is an integrated broadcasting, publication, direct marketing, and digital media company which is a part of Cox Enterprises that includes Cox Target Media. Cox Target Media operates two leading American companies which are Valpak (direct marketing), and savings.com (online savings). The company’s operations currently include 19 broadcast TV stations, one local cable station, 87 radio stations, eight daily newspapers and more than 100 digital services. CMG’s reach includes more than 30 media markets and 52 million Americans weekly, which includes 18 million radio listeners, 32 million TV viewers, and more than four million print and online newspaper readers.

2012 Key Metrics [2]

Revenue: 1.9 Billion
TV Stations: 19
Local Cable Channels: 1
Television Markets: 11
TV Viewer Reach: 30+ million
AM Radio Stations: 15
FM Radio Stations: 72
Radio Markets: 20
Combined Weekly Radio Listeners: 18 million

The Business of Communications

A duopoly is a specific type of oligopoly where only two producers exist in one market. In context, Cox Media Group is a duopoly due to the fact that it is one of two firms with dominant control over the communications market. Cox Media Group is in the process of changing its structure as part of a new business strategy to sell off their stations in smaller markets. The broadcast realignment was announced in July 2012 by CMG President Doug Franklin following the purchase of duopolies in larger markets — Jacksonville, Fla., and Tulsa, Okla. — from Newport Television . [3] CMG’s strategy is focused on larger markets, cross-media collaboration, and heightened reach in fewer markets. “This simplified structure will enable CMG to capitalize on continued growth and synergies, while retaining its size financially,” said Franklin.

Simultaneously, CMG is realigning leadership structure to fit the new broadcast portfolio. Leadership changes in 2013 are as followed:

January 11th – Romeo Solomon Named General Sales Manager at KICU-TV
January 14th – Cox Media Group Appoints Matt Dalton as National Sales Manager of Long Island’s 106.1 WBLI-FM and 102.3 WBAB-FM
January 30th – CMG Orlando Tammie McGrath promoted to Director of Sales for six stations [4]
February 7th – CMG Tulsa Radio Promotes Matt Ledbetter to Director of Sales for Its Five Station Cluster [5]
March 1st – Tom Calococci Joins CMG Miami as New Program Director East Coast
March 8th – Cox Media Group Atlanta Names Adam Wolfson New General Sales Manager
March 11th – Greg Bilte named general manager, Suzanne Nadell named News Director for CMG Tulsa
March 13th – CMG Jacksonville Named Eric Lauer GSM, CMG San Antonio Names Jeff Garrison as New Program Director of Y100 [6]
April 1st – Lee Rothenthal named News Director at KUTV in Indianapolis [7]

Consolidation

On February 12th, Cox Media Group announced the sale of radio stations in six markets to SummitMedia – a Birmingham, Ala.-based ownership group which includes David DuBose, Cox Media’s Birmingham Vice President and market manager.

Source: http://www.freepress.net/

Cox Media Group also sold three Southern Connecticut radio stations and contract rights for an additional station to Connoisseur Media based in Conn. Four stations were sold to Connoisseur and 21 stations were sold to Summit. In southern Connecticut, Cox sold WPLR-FM, WEZN-FM, WFOX-FM, and contract rights for WYBC-FM to Connoisseur Media for $40 million. SummitMedia paid $66.25 million for a number of stations in Birmingham, AL, Greenville, SC, Louisville, KY, Richmond, VA, and Hawaii, according to documents filed with the FCC. [8] As part of the broadcast realignment, Cox recently added four TV stations to its broadcast portfolio: WAWS-TV (fox) and WTEV-TV (CBS) in Jacksonville, Fl, and KOKI-TV (fox) and KMYT-TV (MyNetwork) in Tulsa, OK. [9]

Source: www.sbgi.net/

Sinclair Broadcast Group had the opposite strategy, and acquired four COX small television stations for $99 million on February 25^th, 2013; the purchase was part of a string of over thirty acquisitions over the past year and a half. [10] They also purchased 18 stations from Barrington Broadcasting Group for 370 million. [11] Sinclair Broadcast Group Inc. is a Hunt Valley, Maryland-based diversified television broadcast company. The four stations Sinclair purchased from Cox were:

KFOX (Fox) El Paso, Texas DMA 91

WJAC (NBC) Johnstown-Altoona, Pa. DMA 102

KRXI (Fox) Reno, Nev. DMA 108

WTOV (NBC) Wheeling, W.Va.-Steubenville, Ohio DMA 158

FCC rules prohibit ownership of two stations in markets as small as Reno, Nev., therefore Sinclair plans on getting past this loophole by operating MNT affiliate KAME Reno under contract with a third-party licensee, Deerfield Media. [12] Sinclair said it expects to finance the deal through a bank loan, the deal will close in the second quarter and is pending FCC approval. Sinclair is arguably taking this strategy because there are less medium-sized stations for sale, but small stations provide large profits through local advertisements. [13] “Over the past 18 months, we have led the industry’s consolidation efforts in the mid-sized markets, purchasing 30 TV stations and creating over $400 million of equity value,” said David Smith, Sinclair President and CEO.

On March 4th, 2013, Broadcast stock analyst Marci Ryvicker and Wells Fargo Securities approved the Sinclair buy. “We like SBGI’s scale, leverage and opportunistic approach to M&A and anticipate there is more to come,” stated in an investor’s note. According to the note, Sinclair is paying a reasonable 4.6 times cash flow for Cox and 5.2 times for Barrington while maintaining a healthy debt profile of 5.1 times projected for the end of 2013. [14]

Other news concerning COX

Source: RadioInk.com

On January 18th, Cox Media Group made radio history with Tampa 97X by giving local listeners total control of the music by utilizing social media. Listeners chose songs they wanted to hear by selecting from over 1,800 songs listed on 97X app and website. The app gave listeners the ability to interact with an ‘Open Mic’ feature which enabled them to record and upload themselves introducing songs. [15]

On March 6th, Cox Media Group was accepted into the Google AdWords (TM) Premier SMB partner program. This partnership allows CMG to be a leading provider in digital marketing solutions for local and regional advertising clients. Premiere SMB partners meet Google’s highest criteria for qualification, transparency and customer service, which include completing extensive Google product and account management training to provide businesses with the most effective AdWords advertising solutions. In addition to in-depth AdWords knowledge, PSP partners provide campaign management, detailed reporting, one-on-one customer support, and broad marketing guidance to help advertisers make the most of their advertising campaigns. [16]

Sources

1 & 2. http://www.coxmediagroup.com/about/
3. http://articles.baltimoresun.com/2013-02-26/business/bs-bz-sinclair-acquires-cox-stations-20130226_1_sinclair-plans-station-owner-stations-in-mid-sized-market
4. http://www.coxmediagroup.com/news/2013/jan/
5. http://www.coxmediagroup.com/news/2013/feb/
6. http://www.coxmediagroup.com/news/2013/apr/
7. http://www.coxmediagroup.com/news/2013/may/
8 & 9. http://www.mediapost.com/publications/article/193537/cox-sells-25-radio-stations.html#axzz2PoUSjKxl
10. http://articles.baltimoresun.com/2013-02-26/business/bs-bz-sinclair-acquires-cox-stations-20130226_1_sinclair-plans-station-owner-stations-in-mid-sized-markets
11. http://www.bizjournals.com/baltimore/print-edition/2013/03/08/sinclair-broadcast-group-tuning-into.html?page=all
12.http://www.tvnewscheck.com/article/65729/sinclair-buys-four-cox-tvs-for-nearly-100m
13. http://www.bizjournals.com/baltimore/print-edition/2013/03/08/sinclair-broadcast-group-tuning-into.html?page=all
14. http://www.tvnewscheck.com/article/65893/ryvicker-gives-thumbs-up-to-sinclair-buys
15. http://www.coxmediagroup.com/news/cmg-press-releases/tampa-bays-97x-does-it-again/nTzz2/
16. http://www.marketwatch.com/story/cox-media-group-selected-as-google-adwords-premier-smb-partner-2013-03-06

SiriusXM Radio

Posted on April 7, 2013 by llehman

Address:

1221 Avenue of The Americas

36^th Floor

New York, New York

10020

Telephone:

212-584-5100

Overview:

Sirius XM Radio is a radio broadcasting company that offers two satellite radio services called XM Satellite Radio and Sirius Satellite Radio. Sirius XM was born after Sirius Satellite Radio and XM Satellite Radio merged in 2007. Sirius has numerous channels that broadcast weather, news, comedy, traffic, talk, sports, music and entertainment. The company has over 23,900,336 subscribers as of December 31, 2012. Liberty Media Corporation owns over 50 percent of the shares of stock in Sirius. As of December 2012 Jim Meyer is the CEO. [2]

History before the merger:

The company was originally incorporated on May 17, 1990 in Delaware. It was called Satellite CD Radio Inc. IT changed its name to CD Radio Inc. on December 7, 1992. The company changed its name again on November 18, 1999 from CD Radio Inc. to Sirius Satellite Radio Inc. In July 2008 a subsidiary of Sirius, Vernon Merger Corporation merged with XM Satellite Radio Holdings Inc. The name Sirius Satellite Radio Inc. was then changed to Sirius XM Radio Inc. on August 5^,2008. In April 2010 XM Satellite Radio Holdings merged with XM Satellite Radio Inc. XM Satellite Radio Inc. merged with Sirius XM Radio Inc. in January 2011. (where it says Sirius radio make it lead to this clip or the company [3]

Key Executives: [5]

James E. Meyer: James E. Meyer, age 58 replaced Mel Karmazin as the CEO of the company in December 2012. Mr. Karmazin had been CEO since 2004. Mr. Meyer’s position was president of sales and operations from May 2004 to December 2012. His previous jobs included being the president of Aegis Ventures Inc. and a special advisor and a senior executive vice president at Thomson S.A. a consumer electronics company. [4]

Scott Greenstein: The president and chief content officer. His previous jobs included being senior vice president at Miramax Films, co president of October Films, chairman of USA Films and chief executive officer of the Greenstein Group.

Dara Altman: The executive vice president and chief administrative officer. Altman was originally an attorney with the law firm Willkie Farr and Gallagher. She later became senior vice president and general council of Reiss media enterprises. From 1997 to 2005 she was the executive vice president of business affairs for Discovery Communications. January 2006 through September 2008 Altman was the executive vice president, business and legal affairs of XM.

Steven Cook: The executive vice president, sales and automotive. Prior to filling this position, Cook was the group vice president and general manager, automotive division from July 2008 through January 2013. He held various positions with XM from February 1999 to July 2006 including executive vice president, automotive, executive vice president, sales and marketing and senior vice president, sales and marketing.

Patrick L. Donnelly: The executive vice president, general counsel and secretary. Donnelly originally began his career as a lawyer for Simpson Thacher & Bartlett. He has been in his current position at Sirius since May 1998.

David J. Frear: The executive vice president and chief financial officer. Early in his career, he worked at Bear, Sterns & Co, Inc. and Credit Suisse. Frear has been at Sirius since June 2003 acting as its executive vice president and chief financial officer.

Enrique Rodriguez: The executive vice president, operations and products. Rodrigues worked for Microsoft Corp., Xbox Partnerships for Microsoft as well as Cisco System Inc. prior to joining Sirius in October 2012.

Financials: [6]

Subscription fees are Sirius’ main source of revenue. The company has over 23,900,336 subscribers. Most customers subscribe to Sirius either yearly, semiannually, quarterly or monthly. The company offers discounts if a customer prepays or has a long-term subscription. Sirius generates revenue from the sale of advertising on non music channels, by selling satellite radios, components and accessories as well as from the sale of additional services related to internet radio, backseat TV, traffic and weather. In 2012 Sirius XM and its subsidiaries had total revenue of $3.4 billion. Its total operating expenses are $2.5 billion. The net income for 2012 was $3.4 billion.

Sirius XM Program Offerings: [2] [6]

Star Power: Sirius is well known for using stars to lure its customers to purchase subscriptions. For example Oprah Winfrey, Howard Stern, Martha Stewart, Bob Dylan and Jimmy Buffet are some of the many stars who are contracted with Sirius.

Music Programs: The company has numerous music channels, which are commercial free. Various genres including classical, country, rock and hip hop are offered. (Link of a music station or music video). Artist Confidential where customers of Sirius can listen to interviews and performances of the biggest names in musical talent is one of many special features offered. Sirius also hosts a Town Hall special feature where listeners can hear live audiences in the area of sports, talk and music.

Sports: Sirius is known for its select sports talk channels such as ESPN Radio, Sirius XM NASCAR Radio, Sirius XM NFL Radio and MLB Network Radio. The company is known for providing its listeners with live play-by-play sports (SU BASKETBALL GAME BROADCASTER) in the professional and college arena.

Talk and Entertainment Programs: Customers can listen to talk radio programs with hosts including doctors from NYU Langone Medical Center, Howard Stern, Oprah Winfrey, Dr. Laura Schlessinger, Opie and Anthony and Senator Bill Bradley. Comedy channels featuring Jamie Foxx’s The Foxhole, Blue Collar Comedy and Raw Dog Comedy are also presented. Entertainment channels including playboy radio, road dog trucking, kids place live and radio Disney attract thousands of listeners. Sirius customers can also enjoy religious programs including family talk and the catholic channel.

News: Sirius offers local traffic reports for 22 cities throughout the United States. Information and news programs from around the world can be heard at HLN, CNN, CNBC, Fox News, BBC World Service News and Bloomberg Radio. A variety of political talk shows are offered including Sirius’ POTUS channel.

Access to Sirius: Satellite radios are mainly distributed when a consumer purchases or leases a new vehicle. Every major automaker provides satellite radio in their vehicles as per contracts between Sirius and the automakers. Automakers pay Sirius in advance for the subscription to Sirius included in the sale or lease of the automakers vehicle. Sirius also sells satellite and Internet radios through its website to consumers.

March Madness: [7]

To lure back 50 million ex subscribers, Sirius XM activated satellite receivers from March 19^th through March 24^th for the first six days of NCAA Men’s Basketball Championship. The company is hoping that the fans who are no longer subscribers will pay to get service through the Final Four which occurs in early April.

Sources:

[1] http://www.siriusxm.com/ – Sirius XM Radio Website

[2] http://en.wikipedia.org/wiki/Sirius_XM_Radio – Sirius XM Radio Wikipedia

[3] http://www.sec.gov/Archives/edgar/data/908937/000090893713000004/siri-20121231x10k.htm – Sirius XM Radio Security Government

[4] http://www.huffingtonpost.com/huff-wires/20121219/us-sirius-xm-ceo/?utm_hp_ref=sports&ir=sports) (http://www.sec.gov/Archives/edgar/data/908937/000090893713000004/siri-20121231x10k.htm – James E. Meyer Huffington Post

[5] http://www.siriusxm.com/bios -Sirius XM Radio Bios

[6] http://www.sec.gov/Archives/edgar/data/908937/000090893713000004/siri-20121231x10k.htm#sC183289BF5206A53B1AFDC965946148E – Sirius XM Radio Security Government Financials

[7] http://www.fool.com/investing/general/2013/03/16/this-week-in-sirius-xm-radio-22.aspx – Sirius XM Radio Fool.com Investing

[8] http://njbrideau.com/wp-content/uploads/2013/03/2013MarchMadness.jpg – March Madness 2013 picture

SiriusXM Radio

Posted on April 4, 2013 by Trevor Gill

by Trevor Gill

Courtesy of SiriusXM.com

The Basics

Website: www.SiriusXm.com

Address

221 Avenue of the Americas #36

New York, NY 10020

Phone Number: (212) 584-5100

Social Media: Twitter Facebook Instagram Youtube

What is it?

Sirius XM Radio is one of the largest subscription media companies in the United States, providing commercial free satellite radio to subscribers who pay anywhere from $14.49 to $17.99 per month (depending on the package they choose).

Courtesy of IMDB.com

Sirius XM has 23.9 million subscribers. The service offers over 140 channels with content ranging from Howard Stern talk radio, to hits from Jimmy Buffett, to NASCAR and beyond. Subscribers can access content either built into their vehicles via satellite, on Sirius XM’s website, or on mobile applications available for Apple and Android powered devices. (1)

A visual of what Sirius XM is all about, courtesy of their website.

Courtesy of SiriusXM.com

James E. Meyer, Courtesy of satelliteradioplayground.com

Key People

James E. Meyer, Chief Executive Officer

James Meyer joined Sirius XM radio in May of 2004, and after former CEO Mel Karmazin stepped down from the position, Meyer took over as CEO on December 18^th, 2012. Before becoming CEO, Meyer held the position of President of Operations and Sales. Said Meyer, “Sirius XM is a great business and I look forward to working with our talented management team to continue to deliver the best content and service to our subscribers, while enhancing value to our shareholders.” (2)

Scott Greenstein, President and Chief Content Officer

Scott Greenstein is in charge of programming and marketing for Sirius XM. Greenstein previously was a consultant to the company on contractual agreements negotiated with the National Football League. (3)

Dara Altman, Executive Vice President and Chief Administrative Officer

Altman was previously the Executive Vice President of Business and Legal Affairs for XM Satellite Radio, prior to the merger between Sirius and XM. (4)

What’s Going On Today?

Financial News

On February 5^th Sirius XM released its annual financial report from 2012. The company reported that 2012 revenue was $3.4 billion, a 13% increase from 2011 revenue, which was $3.0 billion. Another positive for Sirius XM was that Net Income for 2012 was $3.5 billion, compared to $427 million in 2011. Net Income was higher than revenue for 2012 because of a $3 billion income tax benefit, and thanks to $130 million due to a loss on extinguishment of debt.

Sirius XM was also happy to announce that it added 2 million subscribers in 2012. That is the largest amount of added subscriptions since 2007 (before Sirius and XM merged).

Sirius XM predicts that 2013 revenues will exceed $3.7 billion. Also predicted is a total net subscriber addition of 1.4 million. (5)

On the negative side for Sirius XM, on Friday April 5th its stock (SIRI), dipped below $3 for the first time since late February. The stock dropped to $2.95, the lowest price so far in 2013. However on Monday, April 8^th the stock closed at $3.04 per share, up from what was a down last week. (6)

The Competition

On April 2^nd, A new study by The NPD Group suggest that streaming music is quickly gaining ground on traditional terrestrial radio, especially with the younger demographics (ages 13-35). The report, which looks at the fourth quarter of 2012, shows that in this 13-35 demographic, 23% of music is being heard on Internet radio, while 24% is still heard on traditional AM/FM radio. The report shows that just 5% of listeners in this age group listen to music via satellite radio.

Courtesy of NPD.com

Breaking down the 23% of Internet “streaming” radio usage, Pandora leads the way, taking up 39% of users time. In second is iHeartRadio, which accounts for 11% of usage amongst ages 13 and 35 in the 4^th quarter of 2012. (7)

Courtesy of NPD.com

Apple

According to Paul Sloan of CNET.com Apple is in the works of signing deals with both Warner Music and Universal Music Group to allow Apple and iTunes to offer streaming content, similar to what Pandora offers. The new product is rumored to be called iRadio. This would add another huge source of competition for Sirius XM, especially if the Apple product is free (or cheaper than Sirius XM’s monthly rate). (8)

Courtesy of CNET.com

Current Programing

Super Bowl Coverage

Courtesy of twitter.com

Sirius XM Radio offered in-depth coverage of Superbowl 47, which included broadcasting the game in eight foreign languages, and airing Beyonce’s halftime performance live. In addition, they offered coverage all Superbowl week long with specials from SiriusXM NFL Radio, Mad Dog Radio, Maurice Jones-Drew, Jeff Foxworthy and more. Sirius XM also aired a limited-run, special New Orleans jazz Channel called “Radio New Orleans” from February 1^st – 3^rd. (9)

Town Hall Exclusive with Al Gore

Courtesy of biography.com

On Thursday, February 28^th Sirius XM’s “Town Hall” series sat down with former Vice President Al Gore to discuss his new book “The Future: Six drivers of Social Change”. The special was hosted by Ari Rabin-Havt, who hosts The Agenda on Sirius XM, and allowed for audience members to ask Gore about a wide variety of topics. (10)

New 24/7 Entertainment Weekly Channel

On March 1^st, Sirius XM announced that Entertainment Weekly would launch an all-new channel, Entertainment Weekly Radio, offering 24/7 coverage of all the latest news in the world of entertainment. The channel will offer shows hosted by Entertainment Weekly and EW.com editors, featuring news, interviews, opinions and more. (11)

New Addition to Mad Dog Radio

Courtesy of twitter.com

On March 4^th, Sirius XM announced that Adam Schein has joined its all-sports Mad Dog Radio channel. Schein will host his own show, Schein on Sports. Schein previously worked for Sirius XM in 2004. He also currently works for SportsNet New York (SNY) and the CBS Sports Network. Prior to that Schein had worked at WFAN Radio in New York, and Fox Sports Radio.

Schein graduated from Syracuse University’s S.I. Newhouse School of Public Communications in 1999. (12)

More Live Coverage

NCAA Final 4

Sirius XM provided an array of live broadcasts from The NCAA Final Four in Atlanta, including coverage of the National Championship game. Shows such as Inside College Basketball, Tim Brando Show, and SiriusXM’s Final Four Roundtable all provided live coverage from Atlanta, from Thursday April 4^th, to Tuesday April 9^th. (13)

The Masters

Courtesy of espn.go.com

Sirius XM will offer live hole-by-hole coverage of the 2013 Masters on the PGA TOUR Radio Channel from the Augusta National Golf Club in Georgia. The Masters coverage will last the length of the tournament from Thursday April 11^th, to Sunday April 14^th. The channel will also offer a two-hour pre-Masters show before each day of the event, and Masters Review recapping each round. (14)

Sources

1. Sirius XM Corporate Website

2. James Meyer Corporate Bio

3. Seth Greenstein Corporate Bio

4. Dara Altman Corporate Bio

5. Sirius XM 2012 Report

6. This Week in Sirius XM Radio – The Motley Fool

7. NPD report on Radio Streaming Usage

8. CNET.com article by Paul Sloan

9. Sirius XM Press Release (on Superbowl coverage)

10. Sirius XM Press Release on Town Hall Event

11. Sirius XM Press Release on Entertainment Weekly Announcement

12. Sirius XM Press Release on Adam Schein Addition

13. Sirius XM Press Release on Final 4 Coverage

14. Sirius XM Press Release on 2013 Masters Coverage

Clear Channel

Posted on April 3, 2013 by Lucy Bartozzi

by Lucy Bartozzi

http://www.clearchannel.com

200 E. Basse Road San Antonio, TX 78209

(210) 822 – 2828

About Clear Channel

Clear Channel Communications is a global media and entertainment company specializing in radio broadcasting and outdoor advertising. The company was founded in 1972 in San Antonio, TX with the purchase of a single FM radio station [1]. Currently, Clear Channel is privately owned by Bain Capital and Thomas H. Lee Partners [2]. Clear Channel operates as CC Media Holdings and consists of two main businesses: Clear Channel Outdoor Holdings and Clear Channel Media and Entertainment [1].

Clear Channel Media and Entertainment

Clear Channel Media and Entertainment (CCME) owns and operates 840 broadcast radio stations, reaching nearly 243 million monthly listeners. CCME services 150 U.S. markets, as well as 140 radio stations in Australia and New Zealand. This gives Clear Channel the largest reach of any radio or television outlet in the United States [3]. Operations of CCME include radio broadcasting, online and mobile services and products, program syndication, entertainment, traffic data distribution, and music research services [2]. CCME’s content is distributed on a variety of platforms including AM/FM stations, satellite radio, the Internet, in-vehicle navigation systems, iHeartRadio, and mobile devices. Properties of CCME include Premiere Networks, a national radio network with 90 radio programs in syndication, Katz Media Group, the leading media representation company in the United States, and Total Traffic Network, a service that delivers real-time local traffic flow and information to over 3,000 radio and 200 television affiliates [4].

iHeartRadio

iHeartRadio, launched in 2008 by Clear Channel, gives users access to over 1,500 live radio stations across the country and the ability to create custom stations. This service is available online and as a mobile application for smartphones and tablets, as well as in-vehicle systems and some gaming consoles. Users are able to stream a wide variety of content, including pop, country, talk, sports, and college radio. In just 13 months, iHeartRadio reached a milestone of 20 million registered users [5].

Key Executives [6]

Bob Pittman, Chief Executive Officer

Tom Casey, Chief Financial Officer and Executive Vice President

Robert H. Walls Jr., Executive Vice President and General Counsel

John Hogan, Chairman and CEO of Media and Entertainment

Financials [2]

Clear Channel estimates that nearly half of their revenue is derived from CCME, with the primary source of this revenue being the sale of commercials on their radio stations
Clear Channel’s total revenue for 2012 equaled $6,246,884
CCME’s total revenue for 2012 equaled $3,084,780, a $98 million increase from 2011
In 2012, CCME saw an increase in digital revenue, event sponsorship revenue, and traffic business revenue; however, direct expenses and SG&A expenses increased as well

New Developments at Clear Channel

On March 6, 2013 Clear Channel and eOne, the fastest-growing independent music company in the U.S., announced an agreement to share revenue from digital and terrestrial radio. Since its inception, eOne Music has charted more than 100 albums on Billboard’s Independent Chart. Clear Channel has recently entered into similar agreements with Big Machine Label Group, Glassnote Entertainment Group, DashGo, rpm Entertainment, Robbins Entertainment, and Naxos [7].

On March 11, 2013 Clear Channel introduced a new feature for their iHeartRadio service which will enable users to to add short local news, weather, and traffic updates into their custom station when listening online. Clear Channel hopes that these “Add-Ins” will provide users with a custom experience they can’t find anywhere else. Users will be able to receive localized information based on their current location or choose to receive updates from different markets across the country. Add-Ins will soon be available on the iPhone, Android, and other platforms [8].

On March 13, 2013 Clear Channel launched its second broadcast Electronic Dance Music (EDM) station, Evolution 93.5 Miami. The new format will feature non-stop dance music from artists such as Skrillex, David Guetta, Calvin Harris, and more. On March 25, the station began airing a two-hour long daily show titled “All Gone Pete Tong” featuring Pete Tong’s Essential New Tune of the Week and the hottest track from the global Top 100 chart on Beatport.com. The show broadcasts Monday through Friday from 7 – 9 p.m. EST and additionally features Tong’s mixes, on-air interviews, and guest-hosted radio shows. EDM fans across the country can listen to Evolution as well on iHeartRadio [9].

On March 28, 2013 Clear Channel announced the return of their iHeartRadio Music Festival, as well as the continuation of their partnership with Macy’s. For its third year, the event will be held at the MGM Grand in Las Vegas on September 20 and 21, 2013. Macy’s iHeartRadio Rising Star campaign will return as well, spotlighting America’s emerging musicians and giving one lucky artist or band the opportunity to perform at the iHeartRadio Music Festival. Clear Channel listeners, iHeartRadio fans, and Macy’s shoppers will have the opportunity to vote for their favorite performer online until May 12. Bon Jovi, Jason Aldean, Lil Wayne, Swedish House Mafia, Taylor Swift, Linkin Park, and Aerosmith are just a few of the names that have previously performed at the festival [10].

On April 1, 2013 Clear Channel Media and Entertainment announced a partnership with Big Machine Records to launch The Band Perry’s sophomore album, PIONEER. Following the release of the album on April 2, Clear Channel will launch a two-week on-air and online Artist Integration Program to introduce the new music to fans and listeners. On April 3, The Band Perry will perform for iHeartRadio Live at the iHeartRadio Theater. The goal of this campaign is to raise audience awareness by featuring custom content and spots on a multitude of Clear Channel’s different platforms [11].

Sources

[1] http://www.clearchannel.com/Corporate/Pages/about.aspx

[2] http://edgar.secdatabase.com/1389/73970813000003/filing-main.htm

[3] http://www.clearchannel.com/CCME/Pages/default.aspx

[4] http://www.clearchannel.com/CCME/Pages/Brands.aspx

[5] http://www.clearchannel.com/CCME/Pages/iHeart.aspx

[6] http://www.clearchannel.com/Corporate/Pages/our-team.aspx

[7] http://www.clearchannel.com/Pages/Clear-Channel-And-Entertainment-One-(Eone)-Announce-Agreement-To-Share-Digital-And-Broadcast-Radio-Revenue-With-Artists.aspx

[8] http://www.clearchannel.com/Pages/iHeartRadio-Introduces-Local-News,-Traffic-and-Weather-Add-Ins-to-its-Custom-Stations-.aspx

[9] http://www.clearchannel.com/Pages/Clear-Channel-Media-And-Entertainment-Brings-EDM-To-Miami%E2%80%99s-Airwaves-With-Evolution-93-5.aspx

[10] http://www.clearchannel.com/Pages/The-iHeartRadio-Music-Festival—The-Biggest-Live-Concert-Event-In-Radio-History—Returns-to-the-MGM-Grand-in-2013-.aspx

[11] http://www.clearchannel.com/Pages/Clear-Channel-Media-and-Entertainment-and-Big-Machine-Label-Group-to-Launch-Artist-Integration-Program-Around-The-Band-Perr.aspx

Clear Channel

Posted on December 7, 2012 by hjparker

by [Holly Parker]

http://www.clearchannel.com/

Address: 200 East Basse Road, San Antonio, TX 78209

Telephone: (210) 822-2828

Overview

Clear Channel Communications is a private communications company, founded in 1972 and based out of San Antonio, Texas. It is privately owned by Bain Capital and Thomas H. Lee Partners. Clear Channel is most well known for its radio station ownership but the company also owns outdoor advertising around the country. The two main divisions of the company are Clear Channel Media & Entertainment and Clear Channel Outdoor. [1]

Clear Channel Media & Entertainment

Clear Channel Media & Entertainment (CCME) is the radio division of Clear Channel and serves 150 cities through 850 radio stations. Its stations are broadcast on a wide variety of platforms including AM/FM stations, satellite radio, HD radio, and iHeartRadio which streams music on mobile phones and the Internet. CCME has divisons including “radio broadcasting, online and mobile services and products, syndication, music research services and independent media representation.” [2]

Clear Channel Media Statistics [2]

With 239 million monthly listeners in the U.S., Clear Channel Media and Entertainment has the largest reach of any radio or television outlet in America.
100 million listening hours a month
Over 45 million monthly digital uniques
15 million+ fan reach through station and radio personality Facebook pages

Robert Pittman, CEO of Clear Channel

Key Executives [3]

Robert Pittman, Chief Executive Officer: Mr. Pittman is a giant in the world of media communications. He is the founder of MTV and became CEO of Clear Channel Communications in October 2011. He has helped increase the company’s digital presence and stated that he wants to make Clear Channel’s stations free on as many platforms as possible. [4]
Tom Casey, Chief Financial Officer and Executive Vice President
Robert H. Walls, Jr., Executive Vice President and General Counsel
John Hogan, Chairman and CEO, Clear Channel Media and Entertainment

Financials [5]

In the third quarter of 2012, Clear Channel Media and Entertainment (CCME) was up 1%, or $7 million, in revenues compared to the third quarter of 2011. This increase was primarily the result of a 3% increase in radio revenues, due to an increase in national advertising, digital radio services, and the iHeart Radio Music Festival in September.
At the end of the third quarter, CCME had a revenue of $798.8 million, and Clear Channel Communications increased its overall revenue by 2% up to $1.59 billion.
However, the company may have some financial troubles in the coming years. It needs to refinance more than $10 billion in debt, due in 2016. Its debt by this year will likely outnumber its asset value. This debt has caused some to speculate that the company may have to merge or sell off some of its assets. [6]

iHeartRadio

iHeartRadio is a company owned by Clear Channel consisting of a mobile application and an Internet radio website. Its website states that iHeartRadio is a “free, all-in-one digital radio service that lets you find more than 1,500 Live Stations or create commercial-free, all-music Custom Stations featuring songs from the artist you select and similar music” [7]. The company has proved quite successful for Clear Channel and has helped keep radio in the 21st century. It allows users to stream from a wide variety of radio stations around the country. The company has evolved to become more versatile than just streaming radio stations over the Internet; it now has customizable stations similar to Pandora.

In November, iHeartRadio announced that they had reached 20 million users and surpassed 135 million app downloads [8].

iHeartRadio’s website homepage

iHeartRadio Music Festival 2012

The 2nd annual iHeartRadio Music Festival was held this year on September 21 and 22 in Las Vegas, and featured popular musical acts such as Rihanna, Lil Wayne, Taylor Swift, No Doubt, and Aerosmith. The festival was also broadcast on The CW on October 1. The first iHeartRadio Music Festival took place last year and kicked off the official launch of iHeartRadio. Of the festival, CEO Robert Pittman said: “The iHeartRadio Music Festival is an indication of Clear Channel’s ongoing commitment to music and artist development — maximizing artists’ exposure to fans and audiences nationwide.” [1]

Katz Media Group

Katz Media Group is a subsidiary of Clear Channel Communications and a leading media representation company in the United States. Katz’s website explains: “With more than 4,000 radio stations and 500 television stations retaining our services, we are the only media representation company to serve a variety of over-the-air and digital platforms.” [9] Katz recently announced that it set a digital sales record for its Digital Display Network and Online Audio Network, reaching more than 100 million and 66.5 million unique monthly users respectively. [10]

Other Clear Channel Media & Entertainment News

September 27, 2012: Clear Channel made an agreement with Glassnote Entertainment Group, that will “align the companies’ business interests, accelerate growth and innovation in digital radio and enable Glassnote and its artists to share in all Clear Channel radio revenue streams.” [11] The agreement comes in hopes of accelerating the digital music industry. Glassnote, an independent record and publishing company, represents such artists as Mumford & Sons, Childish Gambino, Phoenix, and The Temper Trap. These artists and others represented by the music company will benefit from this deal with Clear Channel.

October 12, 2012: The Australian Radio Network (ARN) announced that they would launch iHeartRadio in Australia and New Zealand, providing a lucrative opportunity for Clear Channel Media & Entertainment to expand their company internationally. The service will launch in Australia and New Zealand in 2013 and will be marketed through Clear Channel International’s media assets. [12]

November 8, 2012: Clear Channel Media & Entertainment announced, in partnership with The Madison Square Garden Company and The Weinstein Company, plans for a concert called 12-12-12, A Concert For Sandy Relief. The one night only concert will raise money for people in the tri-state area (New York, New Jersey, and Connecticut) affected by Hurricane Sandy and will take place on December 12, 2012 in Madison Square Garden. All money raised will be administered to the Robin Hood Relief Fund. John Sykes, President of Clear Channel Entertainment Enterprises, will help produce the event. The lineup for the concert includes huge name musical acts such as Paul McCartney, Eric Clapton, Bon Jovi, The Who, Billy Joel, Bruce Springsteen & The E Street Band, Alicia Keys, and Kanye West. [13]

November 20, 2012: Clear Channel will sponsor a series of annual holiday concerts across the country called Jingle Ball 2012. Each year Clear Channel stations across the country host Jingle Ball concerts in local cities, featuring performances by top recording artists and emerging new talent. Washington, DC’s Hot 99.5 and Atlanta’s Power 96.1 are hosting Jingle Ball for the first time this year. Concerts will also take place in Detroit, Los Angeles, Minneapolis, Philadelphia, Boston, New York, Miami, Tampa, San Francisco, and Seattle. [14]

December 3, 2012: Triton released its Online Audio Rankings for October 2012, declaring Clear Channel #2 in ratings behind Pandora. The report lists Clear Channel as having 281,782 Average Active Sessions (AAS). AAS is defined as Total Hours Listening (total number of hours the station/publisher has streamed) divided by hours in the reported time period. Clear Channel is also listed as having 0.61 average hours listening. Above Clear Channel, Pandora has 1,561,757 Average Active Sessions and 0.64 average hours listening. [15]

December 6, 2012: Clear Channel made a number of layoffs in large and mid-sized markets. It is unclear how many layoffs were made, but the company said in a statement that “this creates some new jobs, and unfortunately eliminates others.” The company is continuing to evolve its organizational structure. [16]

References:

1. http://www.clearchannel.com/

2. http://www.clearchannel.com/MediaAndEntertainment/

3. http://www.clearchannel.com/Corporate/PressRelease.aspx?PressReleaseID=1168&p=hidden

4. http://www.tritondigital.com/news-items/pittman-envisions-new-life-for-radio

5. http://www.ccmediaholdings.com/documents/Quarterly/CC-Media-Holdings-Q3-2012-Earnings-Release.pdf

6. http://www.bizjournals.com/sanantonio/blog/2012/12/clear-channel-facing-cloudy-financial.html

7. http://www.iheart.com/about/

8. http://www.slashgear.com/iheartradio-surpasses-20-million-users-sees-over-135-million-downloads-20257809/

9. http://www.katz-media.com/default.aspx

10. http://www.katz-media.com/newsroom/Lists/Newsroom/DispForm.aspx?ID=127&ContentTypeId=0x0104001CC469D696FE464A8A8D4A5554FA03A2

11. http://www.clearchannel.com/MediaAndEntertainment/PressRelease.aspx?PressReleaseID=3148