Category Archives: Radio Companies

radio companies

Cox Radio

Posted on by 
by Kadisha S. Phillips
Cox Media Group Logo

Courtesy of coxmediagroup.com

6205 Peachtree Dunwoody Road Atlanta, Georgia 30328.
Phone: 678.645.0000 | Fax: 678/645.5002

Overview

Formerly known as Cox Radio, the radio division of Cox Media Group  is ranked the 5th among all radio media companies in the United States.  Spanning over 20 markets, boasting 86 radio stations; 15 AM and 71 FM CMG’s portfolio provides listeners with a variety of that ranges from Hawaiian to Classic Rock to Country.

The combined weekly listenership of all of CMG’s 86 radio stations is more than 18 million. [1]

Financials

In 2011, Cox Media Group’s radio division reported a revenue of $350 million. Below is a break down of CMG’s radio station properties and their total revenues for 2011:

Courtesy of adage.com

With all other divisions included, CMG’s total revenue for 2011 was $1.7 billion.

The Parent company of Cox Media Group, Cox Enterprises is ranked 8th among all U.S media companies with a 2011 reported revenue of $11.99 billion; a 1.5% increase from 2010. [2]

 

 

 

Key Executives

President of Cox Media Group, Doug Franklin has been an employee of Cox since1977. He joined as “a door-to-door circulation solicitor for Dayton Newspapers, Inc.” In January 1996, he became the chief operating officer of Cox Ohio Publishing; president and chief executive officer in 2004 and president of Cox Media Group in March 2011. Under Franklin’s leadership CMG is looking to focus on larger markets in order to create a heightened impact by using cross-media collaboration. [3] [4]

 

Michael J. Joseph is an Executive Vice President at Cox Media Group. Joseph is responsible for all Cox Media Group radio and television stations in Ohio and Louisville, Kentucky. The radio stations that Joseph oversee include WQNU-FM, WRKA-FM, WSFR-FM and WVEZ-FM of Louisville, Kentucky and WHIO-AM/FM,  WHKO-FM and WZLR-FM of Dayton, Ohio. [3]

 

In July 2012 Kim Guthrie became the Senior Vice President of Radio for Cox Media Group. Under the group’s strategic new leadership plan, Guthrie now oversees all radio markets. In 2012 Guthrie was honored in Radio Ink Magazine’s as one of the “Most influential Women in Radio,” for the second year in a row. Under her leadership, many stations and personalities have been nominated for and won awards for their programming excellence and more. [5]

*Note: images courtesy of coxmediagroup.com

 

WSB AM/FM Atlanta, Georgia (@WSBradio)

Courtesy of captainherb.net

WSB 750 AM/95.5FM was the very first radio station to broadcast in Atlanta, Georgia. Purchased by Cox Enterprises founder Governor James M. Cox of Ohio, WSB is Cox Media Group’s flagship radio station. With both frequencies garnishing top rankings in revenue among all CMG radio stations, WSB 750 AM especially carries some of the most popular News/Talk shows in the country. [6]

In 2011, WSB AM reported a revenue increase of 12.5% at $27 million. WSB FM made a slight decrease in earnings at $15.7 million. [2]

Shows:

The Clark Howard Show 

Courtesy of clarkhoward.com

A 2007 Georgia Radio Hall of Fame inductee, Clark Howard is a financial guru. For decades he has aimed to help Americans save money and has done so through his nationally syndicated radio show– The Clark Howard Show. The show originally broadcasts from WSB AM 750 and can be heard on 200 different radio stations every day or online as a podcast. [7]

On the 29th of November, 2012 Clark Howard and WSB Radio, a COX Media Group Radio Station, kicked off their 22nd annual Christmas Kids season. Christmas Kids is a partnership with the Georgia Dept. of Family & Child Services that helps fulfill the Christmas wish-list of every foster child in Georgia. Running from Thursday November 29th to Sunday December 9th, on six different days The Clark Howard broadcast team will set up for 5 hours at a Wal-Mart and encourage customers to purchase presents that foster children have requested. In 2011, 4500 donations were made. [8][9]

The Neal Boortz Show

Courtesy of www.liberty910.com

Hosted by The Talkmaster Neal Boortz, The Neal Boortz Show has been broadcasting on NewsTalk 750 WSB for the past 19 years. Boasting nearly 6 million weekly listeners on 230 radio stations, Boortz’s claims that his show is “your daily dose of insensitivity training.” Each day from 8:30 AM – 1 PM Boortz discusses topics mainly on politics. This year Boortz was a finalist for the 2012 National Association of Broadcasters Network/Syndicated Personality of the Year Award. [10]

In 2012, Boortz announced that he will be retiring in January 2013. After he retires, Boortz will hand over the torch to Republican Presidential frontrunner Hermain Cain. In an interview: “He may be “The Talk-Master,” but Neal’s listeners know I’m the ‘The Dean of the University of Common Sense,” said Cain in an interview. [11] [12]

The Rush Limbaugh Show (@RushLimbaugh)

Courtesy of hohumproductions.com

Syndicated by Premiere Networks, The Rush Limbaugh Program garnishes 20 million listeners per week on nearly 600 radio stations. Additionally, it is the top-rated radio show on air and moved to Cox Media Group’s WSB 750 AM in October of 2012. In this acquisition, The Clark Howard Show was bumped from the daily lineup as its biggest audience is online. Currently The Rush Limbaugh Program can be heard daily from 12 Noon to 3 PM EST. [13] [14]

The News/Talk WSB 750 AM line-up:

Courtesy of wsb.radio.com

Recent Events

September 2012

Courtesy of 123people.com

In September 2012 Cox Media Group announced that in January 2013, Belinda’s Atlanta Lifestyles will debut on 750 WSB AM. Somewhat similar to the “Pinterest, Martha Stewart or the Oprah brand,” Belinda’s Atlanta Lifestyles will be a show about every-day things such as picking a summer camp or where to go to dinner for your anniversary.

Skelton is currently the Executive Producer of The Neal Boortz Show and has been working for WSB Radio for almost two decades. Her show comes just as Boortz plans to retire and although it will not replace The Neal Boortz Show, Belinda’s Atlanta Lifestyles brings an exciting twist to WSB Radio’s current lineup.Skelton notes that Boortz may even make a guest appearance or two on the show. 

Belinda’s Atlanta Lifestyles will broadcast on Saturdays from 1 PM to 3 PM following Boortz’s retirement in mid/late January. [15]

November 2012

Courtesy of epltalk.com

In mid-November, Cox Media Group brought America’s No. 1 sports-radio network to Orlando, Florida on WBDO 580 AM. On November 12th, ESPN Radio (@ESPNRadio) began to broadcast on this station, moving WDBO’s News/Talk programming to WDBO FM 96.5. Not only did Mike and Mike in the Morning (6 AM to 10 AM EST), The Herd with Colin Cowherd (10 AM – 1 PM) and SVP & Russillo (1 PM -4 PM) debut on 580 AM but the most up to date local news coverage will be available on the station and www.ESPNOrlando.com.

Coverage of special sports events will become a part of programming in a partnership between ESPN 580-AM and ESPN Wide World of Sports including “the BCS (with a full slate of regular season college football); the USGA’s U.S. Open; the 2014 FIFA World Cup; and the Open Championship.” [16] [17] [18]

November 2012

Courtesy of abcnews.go.com

In a combined donation of $75,000 Cox Media Group radio stations in Long Island and Connecticut along with Cox Reps in New York, gave aid to those who suffered from SuperStorm Sandy. Star 99.9 and WPLR FM in Connecticut partnered with Fairfield County’s Child and Family Services to support a relief fund to help the agency regain all losses due to to the storm. In Long Island, Island Harvest received aid from 102.3 WBAB and 106.1 WBLI for their programs that help feed those who are in need.

Cox Enterprises and the James M. Cox Foundation also gave to those in need by donating $100,000 cash to the American Red Cross. [19]

 

Sources

  1. About Cox Media Group, http://www.coxmediagroup.com/about/
  2. AdAge Top Media Companies Publication, http://adage.com/datacenter/mediatrees2012.php#41
  3. About Cox Media Group Leadership, http://www.coxmediagroup.com/about/ourleadership/
  4. Cox Media Selling 25 Radio Stations, http://www.billboard.biz/bbbiz/legal-and-management/cox-media-selling-25-radio-stations-as-part-1007633152.story
  5. Cox Media Group Purchases News Stations in Jacksonville, Tulsa http://www.prnewswire.com/news-releases/cox-media-group-purchases-new-tv-stations-in-jacksonville-tulsa-realigns-its-broadcast-media-portfolio-163190416.html
  6. WSB Radio History Website, www.wsbhistory.com
  7. Clark Howard Website, www.clarkhoward.com
  8. Clark Howard and WSB Radio Kick Off Christmas Kids Today http://www.examiner.com/article/clark-howard-and-wsb-radio-kick-off-christmas-kids-today-for-the-2012-season,
  9. Clark Howard Christmas Kids Website www.clarkhoward.com/christmaskids
  10. Neal Boortz Website, http://www.boortz.com/
  11. WGST Expected to Dump News/Talk http://www.bizjournals.com/atlanta/morning_call/2012/09/wgst-expected-to-dump-newstalk.html
  12. Neal Boortz to Retire, http://www.examiner.com/article/radio-talk-show-host-neal-boortz-to-retire-herman-cain-chosen-to-take-over
  13. Rush Limbaugh Website, www.rushlimbaugh.com
  14. Rush Limbaugh Moving to WSB, http://www.allaccess.com/net-news/archive/story/110738/rush-limbaugh-moving-in-atlanta-from-wgst-to-wsb
  15. Neal Boortz Producer Gets Her Own WSB Weekend Radio Show http://blogs.ajc.com/radio-tv-talk/2012/10/05/belinda-skelton-neal-boortzs-producer-gets-her-own-wsb-weekend-radio-show/?cxntfid=blogs_radio_tv_talk
  16. ESPN Radio Returns to Orlando, http://www.coxmediagroup.com/news/cmg-press-releases/espn-radio-returns-orlando-debuts-nov-12/nSYbh/
  17. ESPN Radio Wikipedia http://en.wikipedia.org/wiki/ESPN_Radio
  18. WDBO Launches ESPN Radio in Orlando, http://rbr.com/wdbo-launches-espn-radio-in-orlando/
  19. Cox Media Donates to 75k Sandy Relief, http://www.tvnewscheck.com/article/63542/cox-media-donates-75k-to-sandy-relief

 

 

Emmis Communication

Posted on by 
by Longwei Deng
Emmis Logo

Emmis Communication Corporation’s Logo. Picture courtesy of Emmis.

Address:EMMIS Communications
One EMMIS Plaza
40 Monument Circle, Suite 700
Indianapolis, IN 46204
                                                                              Voice: (317) 266-0100 Fax:(317) 631-3750
Website: www.emmis.com

Background:

Emmis (the Hebrew word for “truth”) Communication Corporation (formerly Emmis Broadcasting) was founded in 1979 when its founder Jeff Smulyan purchased his first radio station, WSVL-FM Shelbyville, IN. Smulyan wanted to build a tower close to Indianapolis and broadcast a competitive signal into the market. This goal was realized when he changed his radio station from country music to adult contemporary form and also changed its name to WENS. WENS became very successful in the Central Indiana market and it also led Smulyan to purchase more radio stations throughout the country. Emmis Publishing was created in 1988 with the purchase of Indianapolis Monthly. Emmis also started its television business with the creation of Emmis Television in 1998.  In 1994, Emmis went public.[1]
Company Overview:
Emmis Communication Corporation is a diversified media company, but it principally focuses on radio broadcasting. The Radio Division brings more than 90% of the company’s overall cash flow. Emmis is the 8th largest publicly traded radio portfolio in United States in excess of 23 stations in 7 markets, including the nation’s top three markets- New York, Los Angeles and Chicago.It also operates the two most influential hip hop stations in the world, Power 106 in Los Angeles and HOT97 in New York City. [2][3]

Emmis Communication Corporation is the eighth largest radio company. It is publically traded on the NASDAQ Global Select Market. It boasts over 23 stations in 7 states. Current stock price is $1.75 per share.[2][4]

 Executives:

Chief

Jeff Smulyan, Chairman, President and CEO of Emmis. Picture courtesy of Emmis Website

Jeffrey H. Smulyan is the Chairman of the Board of Emmis Communications Corporation. In 1980, Smulyan formed and became principal shareholder of Emmis. As a principal shareholder, Smulyan led a group that bought the Seattle Mariners baseball team in 1989 and sold it in 1992. During that time, he served on the Mjor League Baseball owner’s Ownership and Television committees.[5]

Radio President

Rick Cummings, President of Radio Division. Picture courtesy of Emmis Website 

Rick Cummings joined Emmis Broadcasting as its first Program Director at flagship station WENS-FM, 97.1 Indianapolis. He became the National Program Director for Emmis. In 2002, Rick became President of the Radio Division of Emmis Communication. [6]

Finance:

Emmis Communication Corporation is the eighth largest radio company. It is publicly traded on the NASDAQ Global Select Market. In 2010, it boasted revenues of $242 million. And it increased to $250 million in 2011[7]

For the Second Quarter this year, the company’s reported results are negatively impacted by station divestitures over the past year. But on a pro forma basis, net revenue for the second fiscal quarter increased 1%, from $54.4 million to $55 million. Pro forma radio net revenues increased from $41.1 million to $42.0 million. This growth in radio outpaced market growth in this quarter. Its latest stock price is $1.75 per share, which was less than 1%. [8]

Stock

Stock Portfolio for Emmis Communications. Chart courtesy of NASDAQ Global Select Market

“We are actively pursuing a refinancing of our entire capital structure that will dramatically reduce our interest expense and increase our free cash flow going forward,” Chairman Smulyan said during the Second Quarter conference. [8]

What’s happening:

In 2010, A Hungarian court ruled in favor of Emmis Communication Corporation- owned Slager Radio that the National Radio and Television Board (ORTT) illegally awarded a national radio broadcast contract to FM 1. This ruling shows that Slager was one of only two bids in the recent tender for Hungary’s two national radio. Emmis won the broadcasting license in 1997. Emmis and Slager invested $170 million in Hungary’s economy, provided employment to its all Hungarian staff in 12 years.  [9]

In 2009, Emmis announced that it had formed a strategic alliance with StreamTheWorld, which is a radio industry’s streaming technology and services company, to collect all Emmis radio stations on a complete new streaming platform. And also in 2011, Emmis entered a partnership with LA-based MediaLeaders to increase the use of social media to generate revenue and market share in both terrestrial and digital platforms. The MediaLeaders team is a grassroots social media strike that helps Emmis establish more connection with its listeners and advertises in a meaningful way. [10]

In September 2011, Emmis Communication Corporation announced the launch of Incite(inciteimpact.com),which is a full-service social impact marketing firm, tend to use its radio brands to drive community impact. Emmis built a team focused on delivering high-impact social marketing programs for nonprofit organizations, government agency and corporate clients to confront great social challenges, from climate change to transportation, education to community building. [11]

In January of 2011, the stock price of Emmis surged 42% as insiders speculated that the company could be close to selling off some of its radio stations. In that January, filing with the Securities and Exchange Commission, Emmis reported that it had the necessary cash to survive through this February. After that September, Emmis survived from that criss.

In November of 2011, “Emmis announced that it has launched a modified “Dutch auction” tender offer to purchased up to $6,000,000 in value of shares of its 6.25% Series A Cumulative Convertible Preferred Stock, par value $0.01 per share at a price per share not less that $12.50 and not greater that $15.56. ” A “Dutch auction” tender offer allows shareholders to indicate how many shares and at what price they want to tender their shares within the share price range.” [12]

In June 2112, Clear Channel Media and Entertainment announced an agreement to add 106 Cox Media Group and Emmis Communication radio stations to its iHeartRadio digital platform. This will result in more choices and better programming options for iHeartRadio users and also provide more convenient and advanced service for Cox and Emmis listeners. Cox Media Group and Emmis will continue to stream their stations on the station websites and smartphone apps. iHeartRadio has already reached 10 million registered users this past May.[13]

What’s next:
Emmis is building on the momentum of its successful  TagStation® product and introducing NextRadio, the app for FM and HD Radio enabled smartphones. NextRadio is being marked to the wireless industry as an app that shows the best radio listening experience on the smartphone. The product which is specific to local FM and HD Radio allows listeners to listen to local radio without using their data plan for pure internet streaming. “NextRadio™ leverages the efficiency and scalability of broadcast radio improved by the phone’s data channel to deliver an interactive artist and ad experience,” said Paul Brenner, Chief Technology Officer with Emmis Communications.  [14]

Sources:

[1]The Emmis Story. http://www.emmis.com/who-we-are/history.aspx

[2]What we do. http://www.emmis.com/what-we-do/radio/

[3]The Investor Overview. http://www.emmis.com/investors/

[4]NASDAQ Stock Quote. http://www.nasdaq.com/symbol/emms

[5]Jeff Smuylan. http://www.emmis.com/who-we-are/executives/smulyan.aspx

[6]Rick Cummings. http://www.emmis.com/who-we-are/executives/cummings.aspx

[7]2012 Quarter4 Report. http://www.emmis.com/Other/pdf/2012-Q4/Emmis_2-29-        2012_Form10K.pdf

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

[9]Emmis Triumphs in Hungarian Court.http://www.emmis.com/press/story.aspx?ID=1316728

[10]Emmis Enters Partnership with MediaLeaders for Social Media Training.
http://www.emmis.com/press/story.aspx?ID=1528337

[11] Emmis Communications Launches Incite. http://www.emmis.com/press/story.aspx?ID=1546571

[12] The Launch Of Modified “DUTCH  AUCTION”.http://www.emmis.com/press/story.aspx?ID=1579405

[13]Cox Media Group And EMMIS Communications Radio Stations Join iHeartRadio. http://www.emmis.com/press/story.aspx?ID=1728273

[14]What’s Next? http://www.emmis.com/press/story.aspx?ID=1812333

Emmis Communications Corporation

Posted on by 
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

INTRODUCTION

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.

CURRENT ADMINISTRATION

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]

FINANCES

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.

Competition:

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 COMMUNICATIONS HERE AND NOW

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

KLZT-FM(107.1)

KBPA-FM (103.5 BOB)

St. Louis, Missouri

KSHE-FM  (KSHE95)

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

Terre-Haute 

WTHI-FM (99.9 FM)

WWVR-FM (105.5 FM)

WFNF-AM (1130 The Fan)

Slovakia

X Radio Expres

Bulgaria

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]

 

Resources

[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

Posted on by 
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)

Connecticut

California

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

History: 

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

Properties:

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.

People:

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 

 

 

 


Relevance:

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]

Multimedia:

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]

Sources:

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

Posted on by 
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

History:

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

News:

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]

October

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]

November

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]

 

References: 

[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)

[3]http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=350722

[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

 

Entercom

Posted on by 
by Alina Rayas

Photo Courtesy of logos.wika.com [1]

About Entercom :

Entercom is one of the five largest radio broadcasting companies in the United States, with 100 stations in 23 markets, including  Seattle, Boston,San Francisco,Portland,Kansas City, Denver,and Sacramento.[2]

Map of All Entercom’s Radio Stations
Photo Courtesy of Entercom [3]

(click here for a list of all Entercom radio stations)[4}

Brief History:

Joseph Field
Founder of Entercom
Photo Courtesy of The Now Explosion[5]

In 1968, Entercom previously known as  Entertainment Communications Inc was founded by lawyer Joseph Field.  He quit law and purchased three radio stations . He believed that FM radio had the potential to grow and would surpass the popularity of AM radio. It was through his vision the company grew and in 1973 bought a radio station in Seattle, the first in the top 50 market. In 1980 Field expanded and began redesigning content and formats on its stations to attract larger audiences.[6]
In the early 1990’s,  Entercom expanded due to less regulations, the Telecommunications Act of 1996, and a trade deal with Viacom. Entercom became the eighth largest radio broadcast company and the largest in the northwest with eight stations in Seattle and three in Portland.[6]
 In 1998 and 1999 Entercom purchased radio stations in Boston, Sacramento ,Kansas City, and Portland. In 1999 Entercom acquired  the Sinclair Broadcasting Group for $824.5 million with  46 radio stations in nine markets. Entercom now owned 88 radio stations in 17 markets becoming the fifth largest radio broadcasting company in the US. By 2001 Entercom had acquired 101 stations in 19 markets and brought in $333 million in revenues. Their major markets are Boston, Portland, Denver, Sacramento, and Seattle.[6]

Executive Officers:

Entercom Executives
                                               Click on Photo to learn more
                                                Photo Courtesy of Entercom[7]

 Financials:

On Oct 26, 2012 Entercom released its financial results for the third quarter. The company has increased their net revenues for the quarter by 2% or 102.3 million. The company’s EBITDA   grew   26% to $33.5 million. However the net income  per share decreased 7%  to $0.27. Entercom also managed to decrease station expenses drastically  9% or 63.6 million. Although the company’s results show increasing growth, President and CEO, David Field has his mind set on the next quarter. “Fourth quarter pacings look solid and we expect another quarter of solid growth in EBITDA.”[8]

Photo Courtesy of Google Finance [9]

Photo Courtesy of Google Finance[9]

(click here to read full financial data report)[10]

 

Recent News:

December 2012

 

Entercom’s New Website Layout
Photo Courtesy of Entercom[11]

12/4/12 – Introducing Entercom’s website makeover, the new website has many new features but its most notable is the incorporation of social media. The homepage has a live Twitter feed directly from all Entercom’s stations. The new layout also makes it easier for visitors to follow the company making Entercom more interactive and user-friendly. Browse through alphabetical links to the stations, buttons to stations apps, and social media buttons.[12]

WAAF’s Rise Up Against Hunger
Click Photo to Donate
Photo Courtesy of radioinfo.com[13]

12/4/12 – On December 4- 6th  97.7/107.3 WAAF, radio stations owned by Entercom hosted an event named “WAAF’s Rise Up Against Hunger” the purpose of the event was  to help raise money for multiple food banks in the Boston, Worcester, and New Hampshire areas. The event featured two radio personalities LB and Spanz who lived on an elevated boom crane for three days. In the past the station has hosted a series of outrageous stunts to encourage listeners to donate to local food banks.[14]

 

November 2012

 

Volunteers and Ronald Mcdonald work at 5th Annual “Light the House Radiothon” [15]
Photo Courtesy of KOSI-FM

11/7/12 – Denver radio station  KOSI-FM, one of Entercom radio stations, encouraged its listeners to participate in the 5th Annual “Light the House Radiothon”. The fundraising event took place November 13 between 6 am and 6 pm. The donations from the radiothon went to patients at the Rocky Mountain Hospital for Children and family members who stay at The Ronald McDonald House. KOSI listeners had the opportunity to call the station to make donations and pledges while be attended by celebrity guests. Many local businesses also participated by writing checks to the hospital and charity.[16]

11/2/12– David Field, President and CEO of Entercom spoke on November 9, 2012 at the Wells Fargo Technology, Media and Telecom Conference along with Entercom’s Executive VP of Operations and CFO, Steve Fisher.  The event was audio streamed on the Entercom website and a podcast version was available for ten days after the conference.[17]

(click here to watch a previous speech by CEO David Field)[18]

         Jack Donlevie
General Counsel and Executive Vice President of Entercom
Photo Courtesy of Radioink.com[19]

11/1/12 – Jack Donlevie will retire from Entercom in 2015. Donlevie the General Counsel and Executive Vice President will begin scaling back starting in January of 2013 by relinquishing his role as General Counsel. Entercom CEO David Field credits Donlevie with the company’s success and commends him for his dedication and commitment for his 28 years of service to Entercom. Entercom’s Vice President and Corporate Counsel, Andrew Sutor, will succeed Donlevie as General Counsel in January 2013.[20]

 

October 2012

 

10/19/12 – KEZW Studio 1430 AM in Denver, Co is the largest radio station in the US to be powered with solar energy. Entercom Denver and Studio 1430 AM have made history by installing 40 solar panels shifting toward energy efficiency by using the power of renewable energy.  This latest project supports Entercoms’s environmental 1Thing initiative for improving our world. This move has already dropped the station’s monthly energy costs by 80%.[21}

Studio 1430 Solar Panels [21]
Photo Courtesy of Entecom

10/2/12 – Over 30 Entercom employees from the corporate headquarters located in Philadelphia’s Bala Cynwyd, dedicated their time to reducing the companies carbon footprint. Employees planted 236 trees at Lower Merion Township’s Rolling Hill Park in Gladwyne in order to neutralize its carbon footprint emitted throughout the year. This environmental conscious company received input about what trees would suit the area and planting the trees in areas with gap or mature trees to benefit the park.[22]

 

September 2012

 

9/21/2012 – The National Association of Broadcasters Marconi Radio Awards held in Dallas awarded WEEI Sports Radio with the honor of Sports Station of the Year. This prestigious award recognized WEEI radio for its extraordinary on-air personalities and dedication to excellence. Entercom’s Jason Wolfe, vice president of programming and operations of Entercom Boston was elated to share the honor with WEEI Sports Radio.[23]

Taylor Swift Album Red [24]
Photo Courtesy of Big Machine Label Group

9/20/2012 – Big Machine Label Group has joined Entercom’s broadcast team in a bold move. Big Machine artists will now be able to partake in revenues associated with Entercom’s vast market. Entercom is hoping to build a new business model with the label industry and its band of artists. Big Machine will begin grow its digital business and its community of artists will benefit from Entecom’s terrestrial royalties. Top artists include Taylor Swift and Tim McGraw.[25]

 

ESPN Radio logo [26]
Photo Courtesy of logos.wikia.com

9/18/2012 – Entercom, ESPN radio, and Boston’s WEII 850 AM have teamed up together to provide top national sports talk and some of the finest play by play available. Highlights will include NBA, Major League Baseball, and college football and basketball’s latest.  Dubbed “ESPN on WEII” listeners can access live audio stream through ESPNBoston.com and get the latest ESPN video content.[27]

9/12/2012 – Entercom has chosen WO Traffic, a part of WideOrbit Inc. to run all of its radio stations. This market includes over 100 of its stations throughout the US that covers 23 markets. WO Traffic will customize its product to serve Entercom with more effective and efficient tools.[28]

August 2012

 

     Ric Bucher [29]
Co-host of The Drive
Photo Courtesy of All Access

8/29/2012 – San Francisco  radio station, KGMZ-FM,  owned by Entercom , signed ESPN analyst Ric Bucher (@RicBucher) to co-host the afternoon weekday show The Drive  from 3-7pm. He will work alongside current host Brandon Tierney.(@BrandonTierney) Bucher’s enthusiasm is evident when he stated that signing on will “ feel like I am coming home.” He has signed on to a deal that will include multiple years at the station.[30]

 

 

Click to Listen Live [31]
Photo Courtesy of WRUF-FM

8/28/2012 – Entercom announced a seven year partnership with the University of Florida’s College of Journalism and Communications radio stations WRUF-AM and WRUF-FM.  The partnership between Entercom and the UF’s  College of Journalism and Communications creates a great opportunity for Entercom to increase its sale profile market while providing UF’s Journalism students with experience in multiple daily activities involved in Entercom’s local radio station.[32]

Sources:

[1] Entercom logo http://logos.wikia.com/wiki/Entercom_Communications

[2][7] Entercom About Us Page and Executive Profile Image  http://www.entercom.com/about-us

[3] Entercom Radio Station Map Image http://www.entercom.com/contact

[4] Entercom Radio Station List http://www.entercom.com/radio-stations

[5] Image of Joseph Field http://thenowexplosion.com/

[6] History of Entercom http://www.fundinguniverse.com/company-histories/entercom-communications-corporation-history/

[8] Entercom Financials  http://finance.yahoo.com/news/entercom-communications-corp-reports-third-115500443.html

[9] Google Finance Graphs http://www.google.com/finance?q=NYSE%3AETM&fstype=ii&ei=Y6PBUMCvBYPL0QGqxgE

[10] Financial Data Report PDF http://www.entercom.com/docs/ETM_financial_data_tables_Q3_12.pdf

[11]  Image of New Entercom Wesite http://www.entercom.com/

[12]  New Website Layout for Entercom http://www.radioink.com/article.asp?id=2585453

[13] Rise Up Againist Hunger Image http://www.radioinfo.com/

[14] Rise Up Against Hunger Article http://rbr.com/waaf-rises-up-against-hunger/

[15] Light the House Radiothon Image http://www.kosi101.com/pages/14788073.php

[16] Light the House Radiothon Article http://www.radioink.com/article.asp?id=2568797

[17] David Field to Talk at Wells Fargo Conference http://www.dailyfinance.com/2012/11/02/entercom-to-present-at-november-7-wells-fargo-tech/

[18] David Field Previous Speech link http://vimeo.com/7724884

[19] Image of Jack Donlevie http://www.radioink.com/article.asp?id=2565542&spid=24698

[20] Jack Donlevie Will Retire In 2015 Article http://finance.yahoo.com/news/entercom-announces-general-counsel-executive-210000872.html

[21]  KEZW Studio 1430 AM Solar Panel  Project Article and Image http://www.entercom.com/kezw-studio-1430am-unveils-historic-project-that-turns-sunbeams-into-airwaves

[22] Entercom goes Carbon Neutral Article  http://mainlinemedianews.com/articles/2012/10/02/main_line_times/life/doc506b4c7dbec2d554528024.txt

[23] WEEI Wins Marconi Award Article http://www.weei.com/extras/press-release/weei-wins-prestigious-marconi-award-sports-station-year

[24] Image of Taylor Swift Album Red http://www.bigmachinelabelgroup.com/artist/Taylor_Swift

[25] Big Machine Label Group Signs Deal With Entercom Article http://www.billboard.biz/bbbiz/industry/record-labels/big-machine-label-group-signs-terrestrial-1007954192.story

[26] ESPN Radio logo http://logos.wikia.com/wiki/ESPN_Radio 

[27] Entercom and ESPN Radio Article  http://www.weei.com/extras/press-release/entercom-and-espn-radio-join-forces-launch-espn-weei-850-am

[28] WideOrbit Inc And Entercom Article http://www.wideorbit.com/company/news/74-news/press-a-news/767-wideorbit-traffic-and-crm-selected-by-entercom-to-manage-more-than-100-radio-stations-across-23-us-markets-

[29] Image of Ric Bucher http://www.allaccess.com/net-news/archive/story/109729/ric-bucher-named-afternoon-co-host-at-95-7-the-gam

[30] Ric Bucher Signs with 95.7 THE GAME Article http://www.957thegame.com/95-7-The-Game-Signs-ESPN%C3%A2–s-Ric-Bucher/14110314

[31] Image of WRUF-FM http://www.country1037thegator.com/

[32] Entercom Partners with University of Florida http://www.jou.ufl.edu/news/2012/08/28/uf-and-entercom-communications-announce-new-economic-and-educational-partnership/

 

 

 

 

 

 

Cumulus Media Networks

Posted on by 
by Lauren Rush

Courtesy of All Access Music Group [1]

Executives

Photo courtesy of Cumulus Media Network [2]

Lewis W. Dickey, Jr. – Chairman, President and CEO of Cumulus Media. He co-founded the company in 1997 and became its CEO in June of 2000.

 

 

Photo courtesy of Cumulus Media Network [3]

Jonathan G. Pinch- Executive Vice-President and Co-Chief Operating Officer. He joined Cumulus in December 2000 and prior to this was the President of Clear Channel International Radio.

 

Photo courtesy of Cumulus Media Network [4]

John W. Dickey- Executive Vice-President and Co-Chief Operating Officer. He joined Cumulus in 1998.

 

 

Photo courtesy of Cumulus Media Network [5]

Joseph P. Hannan- Senior Vice-President, Treasurer and CFO. He joined Cumulus in April 2008.

 

 

 

Corporate offices: 

3280 Peachtree Toad, NW Suite 2300

Atlanta, Georgia 30305

Ph. (404) 949-0700

Overview/History

Cumulus Media Network is a company that runs approximately 525 stations within 110 cities in the US1. They also have more than 4,500 affiliate radio stations; through these means they reach around 140 listeners above the age of 12 every week2.  The company was founded in 1998 and works as developers of original content and as syndicators. As of 2011 Cumulus acquired Citadel Broadcasting Corporation, making Cumulus the largest pure-play radio company and the second largest operator of radio stations in the US 1, 4.  The most famous programs and affiliates that Cumulus airs include: The Mike Huckabee show, A Better Life With Dr. Sanjay Gupta, Perez Nights Live, ABC News Radio, CBS Sports Radio, along with many others3. Furthermore, they now have many Spanish language programs broadcasting across the country.  In addition, Cumulus operates national scale digital and mobile platforms with websites that deliver over 70 million page views per month as well as the third largest radio-streaming network, Cumulus Streaming

Courtesy of Billboard [6]

Network, in the US according to Triton Digital10. Also in 2011,  Cumulus partnered with other top radio company, Clear Channel Media and Entertainment, to allow Cumulus network programs to be streamed on Clear Channels iHeartRadio app and website and for Clear Channel to give ad space to SweetJack, Cumulus’s daily deals program5.  Cumulus prides itself on its local and national advertising space stating, “high-impact local marketing solutions…help our customers build strong brands and tap into over $4 trillion of local spending power”1.

Finances

Cumulus as of Thursday December 6th was selling on the New York Stock Exchange for $2.25 a share6. However, like many companies in the current economy has been on a steady decline since its being priced around $22 a share in 200420 On November 5th Lew Dickey, CEO, announced the third quarter results, which showed an increase in net revenue, up 120.7%, or $1.50.6 million from $124.8 million to $275.4 million7. However, earnings declined 5.9% from $59.5 million in 2011 to $56 million this quarter. Dickey pointed out that this quarter was the first anniversary of the Cumulus/Citadel merger and that integration was mostly complete. Plus he also made reference to the fact they the company is hopeful in its “turnaround” of 10 under performing stations that equate to 100% of revenue loss that they believe will be restored to growth in revenue in 20138.

Chart courtesy of Bloomberg [7]

Recent News

Courtesy of Top News UK [8]

In accordance with its new acquisition of Citadel Broadcasting Corporation, Cumulus’s stock price rose to $2.98 in September. This was the highest the stock has been since October 2009. CRT capital Group LCC commented, “the company’s cost-savings forecast with the acquisition may be ‘understated’”9.

Another development that happened in September was Marketron’s interface connection between its Network Connect service and Cumulus Media Networks’ traffic system10. This service automates and facilitates network orders and scheduling at an advanced technological level. Therefore allowing “valuable and efficient workflow” for affiliates and advertisers that work with Cumulus10.

Courtesy of The Conservative Beacon [9]

On October 17th, Cumulus announced that it would be adding a new talk show, “Michael Savage’s The Savage Nation”, to air on stations across the country.  Michael Savage is an author of 28 books and is ranked as the third most listened to radio talk show over broadcast and is ranked first via online streaming. Savage is a graduate from UC Berkeley. His show consists of politics, American conservative culture and values, and the ways in which these things are changing within the country. Cumulus hopes this acquisition will bring many new listeners and lead them toward their goal of having “radio’s most compelling mix of show hosts”11.

The Savage Nation Full Show from November 26 [10]

Along with progressive talk shows and hosts, Cumulus is trying to compete in the sports format by dropping ESPN radio from 47 stations

Courtesy of CBS Radio [11]

and exclusively syndicating CBS Sports Radio12 . Beginning on January 2nd. CBS Sports Radio will air on approximately 100 stations, including the major markets of New York, Boston, and Dallas. These programs are estimated to reach 10 million households12 . However, it is not clear how much of a success CBS Sports Radio will be because ESPN radio still has more station affiliates and total listeners. Plus NBC also launched a sports radio network this fall with NFL rights12. However, Cumulus has signed a 12-year contract extension with the San Francisco 49ers football team. This allows the games to continue to be broadcast through 2023 on three Cumulus stations in the Bay Area10.

Damon Amendolara
Courtesy of The DA Show [12]

Two new changes that will be launching on CBS Sports Radio are “The D.A. Show” and three new hosts for the morning drive13, 14. “The D.A. Show” was announced on November 16th and will debut Wednesday January 2, 2013. It will be available in 12 major markets across the country, including Boston, Detroit, Dallas, Houston, Washington D.C., and more. The host will be Damon Amendolara who was a previous host on CBS Radio Boston’s WBZ-FM and has had many other positions within the Boston, Miami, and Kansas City areas. He is a graduate from Syracuse University13. The new hosts of the morning drive were

Tiki Barber
Courtesy of USA Today [13]

announced on November 26thand they will include Tiki Barber, Brandon Tierney and Dana Jacobson. Barber was a professional football player with the New York Giants, while Tierney and Jacobson both already have prolific careers as broadcasters and reporters14.

Along with the third quarter reports Lew Dickey announced that Cumulus received $4.3 million from political ad revenue23. However, Dickey was disappointed with this outcome since they had received $5 million from the same quarter in 2010. One explanation given for this downturn was the amount of experimentation with social media that occurred during this election, which was greater than ever before. Although Cumulus, and radio in general, did not profit too heavily from this seasons elections, Dickey told the Wall Street Journal that he believes “radio can do a better job of selling itself” in the future and “perhaps we can change [sales] in the next cycle23.

Cumulus announced on November 26th that JT Batson would be appointed as the company’s first Chief Revenue Officer. He would direct sales strategy and operations for their broadcast, commerce, events, publishing, and digital platforms. Batson’s previous positions include: Chief Strategy Officer at Mediaocean, an advertising systems provider,

JT Batson
Courtesy of Radio Ink [14]

and facilitation of the merger between Donovan Data Systems and Mediabank. He also worked on marketing for Mozilla Firefox. Batson is a graduate from Stanford University15. Prior to this major announcement, on November 13th, Cumulus also announced promotions of Bob Raleigh and Davey Morris to Corporate Program Directors14.

Along with these corporate announcements Cumulus made some regional changes as well this fall. In September, they launched a new Adult Hits station in Atlanta16 as well as flipping a Modern Rock station to Active Rock format, also in Atlanta 17.  In October, Cumulus published that it is purchasing WFME-FM in the New York metro area but has not released format plans18. Plus, Ann McManus was named the Regional Vice President of Northeast Cumulus markets on October 18th. Markets included are: Bridgeport, New London, Westchester and Poughkeepsie. Some disappointing news came to Cumulus on November 9th when Steve Borneman, their New York Market Manager moved to Clear Channel Media and Entertainment19, the only company more prolific in radio than Cumulus and their fiercest competitor. Lastly Scott Jameson replaced Dave Hamilton on December 3rd as the OM of Cumulus Media’s Minneapolis three-station market21.

Most recently many of Cumulus’ AC stations across the country have switched to all Christmas music formats for the holiday season. They will remain on this format 24/7 through December 25th 10.

The Future

Looking towards the future Cumulus is very happy with its new acquisition of Citadel and believes that it will remain a huge player in the radio industry for years to come because of this deal. Dickey, comments that Cumulus is one of really only three major radio corporations in the business and they are looking to expand on numerous platforms in the months to come. Regarding their partnership with Clear Channel, Cumulus is excited about the outcome of more EasyJack airtime and increased efforts towards improving ways of bringing better advertising to consumers and advertisers22. Cumulus’ CEO also does not believe that the radio business will suffer substantial losses in the future because  93% of the population is continuing to listen to radio 2, 22.

Any Future for Radio? [14]

 

References

1 http://www.cumulus.com/local-radio-2/- Company overview (local).

2 http://www.cumulus.com/cumulus-media-network/- Company overview.

3 http://www.abcradio.com/Article.asp?id=341544- List of Cumulus programs.

4http://www.allaccess.com/net-news/archive/story/96553/it-s-official-cumulus-announces-completion-of-cita- Acquisition of Citadel Broadcasting Corp.

5http://www.nytimes.com/2011/12/05/business/media/clear-channel-and-cumulus-form-daily-deal-alliance.html

6www.bloomberg.com/quote/CMLS:US/- Stock profile.

7  http://www.cumulus.com/cmls/– Third Quarter Report given by Cumulus Media Network on November 5th.

8 http://www.4-traders.com/CUMULUS-MEDIA-INC-8822/news/Cumulus-Media-Inc-Cumulus-Reports-Third-Quarter-2012-Results-15471263/

9 http://www.bloomberg.com/news/2011-09-19/american-water-jazz-pharmaceuticals-western-gas-u-s-equity-preview.html – Rise in stock price in September.

10http://news.radio-online.com/cgi-bin/rol.exe/radio_news_search – Cumulus joins Marketron’s Network Connect, Cumulus Names Two New Corporate PDs, Cumulus signs extension with San Francisco 49ers, Triton Digital findings, Christmas format.

11 http://adsales.cumulusmedianetworks.com/content/press-release-101712 – Press release given by Cumulus Media Network on “The Savage Nation” on October 17th.

12http://www.nypost.com/p/news/business/espn_radio_sacked_H7pmVZM058sECDWVcQ6sRM- Cumulus/CBS Sports Radio deal.

13 http://www.cbsradio.com/single-press/1876 -Press release given by CBS Sports Radio on November 16th.

14  http://radioinsight.com/blog/headlines/79745/cbs-sports-radio-names-morning-show/ – Press release given by CBS Sports Radio on November 26th.

15 http://news.radio-online.com/cgi-bin/rol.exe/radio_news_search – Press release given by Cumulus Media Network on JT Batson on November 26, 2012.

16 http://www.fmqb.com/article.asp?id=2526179 – New hit station in Atlanta

17http://www.fmqb.com/article.asp?id=2524521 – Flips stations in Atlanta

18  http://www.fmqb.com/article.asp?id=2553572 -Purchase in New York market.

http://www.fmqb.com/article.asp?id=2555248 – Ann McManus new RVP of Northeast.

19 http://www.fmqb.com/article.asp?id=2571039 – Steve Borneman moves to Clear Channel.

20 http://en.wikipedia.org/wiki/Cumulus_Media

21http://www.fmqb.com/article.asp?id=2586001 – Minneapolis market

22http://video.cnbc.com/gallery/?video=3000045781 play=1#eyJ2aWQiOiIzMDAwMDQ1NzgxIiwiZW5jVmlkIjoiT3pUVGFZd3JNekdyRWRucn pPbGdnZz09IiwidRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdG VzdCBWaWRlbyJdLCJnU2VjdCI6IkFMTCIsImdQYWdlIjoiMSIsInN5bSI6IiIsInNlYXJjaCI6IiJ9

23http://radioworld.com/article/dickey-%E2%80%98radio%E2%80%99s-share-of-political-dropped%E2%80%99/216214 – Political ad revenue.

Image and Video References

 [1] http://www.allaccess.com/net-news/archive/story/111718/more-cumulus-media-networks-affiliates-this-week

[2] http://www.cumulus.com/leadership/lewis-w-dickey-jr-2/

[3] http://www.cumulus.com/leadership/jonathan-g-pinch/

[4] http://www.cumulus.com/leadership/john-w-dickey/

[5] http://www.cumulus.com/leadership/joseph-p-hannan/

[6]http://www.billboard.biz/bbbiz/industry/digital-and-mobile/clear-channel-cumulus-announce-streaming-1005616182.story

[7] http://www.bloomberg.com/quote/CMLS:US/chart/

[8] http://topnews.co.uk/21458-citadel-broadcasting-corp-files-bankruptcy-protection

[9]http://theconservativebeacon.com/the-conservative-beacon-on-the-savage-nation

[10] https://www.youtube.com/watch?v=hN4ctWMq9Ks

[11] http://www.cbspressexpress.com/cbs-radio/releases/view?id=32726

[12] http://thedashow.com/about/

[13]http://content.usatoday.com/communities/entertainment/post/2010/04/tiki-barber-takes-the-heat-off-jesse-james-tiger-woods/1#.UMIlEERCWfs

[14] http://www.radioink.com/article.asp?id=2581128&spid=24698

[15] http://video.cnbc.com/gallery/?video=3000045781&play=1#eyJ2aWQiOiIzMDAwMDQ1NzgxIiwiZW5jVmlkIjoiT3pUVGFZd3JNekdy RWRucnpPbGdnZz09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdGVzdCBWaWRlbyJdL CJnU2VjdCI6IkFMTCIsImdQYWdlIjoiMSIsInN5bSI6IiIsInNlYXJjaCI6IiJ9

Clear Channel Communications

Posted on by 
by [Gabriel Sansone]

Clear Channel Communications Logo [1]

Who is Clear Channel?

Clear Channel Communications is a global entertainment and media company from San Antonio, Texas, that specializes in digital and radio platforms, as well as outdoor advertising. Clear Channel’s radio division, Clear Channel Media and Entertainment, reaches 239 million monthly listeners in the United States, giving it the largest reach of any television or radio outlet in the country.[2] Clear Channel Media and Entertainment has holdings in 150 cities and owns 850 radio stations,[3] which can be heard via AM/FM transmission, Sirius/XM satellite radio, HD digital radio, the Internet, mobile applications on smartphones and iPads, and navigation systems from Garmin and TomTom. Other properties of Clear Channel Media and Entertainment include Premiere Radio Networks, the number one radio network in the country with 90 radio programs in syndication, and Katz Media Group, the leading media representation company in the U.S., with over 500 television and 4,000 radio stations.[2] Clear Channel Media and Entertainment also owns iHeartRadio, a free digital radio service that allows users to listen to more than 1,500 Live Stations.[2] Clear Channel Media and Entertainment is run by Chairman and CEO John Hogan, who graduated from Lake Forest College in 1979.[4]

Clear Channel’s History

Clear Channel Communications was founded in 1972 by Lowry Mays and Red McCombs as the San Antonio Broadcasting Company, and by 1984 Clear Channel had six AM and six FM stations in seven different markets. Clear Channel first entered the television business in 1988, and by 1995 was in control of 43 radio stations and 16 television stations in 32 different markets. With the passage of the Telecommunications Act of 1996, the company acquired 49 new radio stations that covered 20 markets. In 1997, Clear Channel acquired Eller Media Company, helping it to become a leader in outdoor advertising. By 1999, Clear Channel was ranked by The Wall Street Journal as the fifth best-performing stock of the 1990s, and today, under the leadership of CEO Bob Pittman, Clear Channel continues to be one of the leaders in both the entertainment and advertising industries.[5]

What’s Clear Channel Doing Today? 

September

On September 27th, Clear Channel announced that it had struck a deal with Glassnote Entertainment Group to pay sound recording performance royalties to artists signed to the Glassnote record label, whether their songs are played via digital media or over the air.[6] The revolutionary deal, similar to one Clear Channel

Glassnote Entertainment Group Logo [8]

forged with the Big Machine Label Group in June, allows the label to receive a (undisclosed) percentage of Clear Channel’s digital and terrestrial advertising revenue, as opposed to just receiving revenue on a per-play basis.[7] Clear Channel CEO Bob Pittman released a statement to the press, saying that the deal not only allows for Glassnote Entertainment Group artists to participate in Clear Channel’s radio revenues, but “it also creates a vibrant new digital radio business model that we believe will provide more money for the artists and the labels and more digital choices for the consumer.”[7] Popular Glassnote artists that will benefit from this deal include Mumford and Sons, Childish Gambino, and Phoenix.

October

On October 25th, Clear Channel announced that the company successfully completed a private debt exchange of $1,999, 815,000 for new notes that are worth the same principal amount but due in 2019.[9] As Clear Channel is currently in almost $20 billion in debt,[10] this debt exchange is a step in the right direction for providing the company with “greater flexibility to manage our debt maturities in the future,” says company Executive Vice President and Chief Financial Officer Tom Casey.[9] The offering was reportedly highly oversubscribed, which shows that debtholders are prepared to allow Clear Channel more years to repay some of its  debt.[11]

Throughout the week of October 27th, Clear Channel dismissed dozens of local radio D.J.’s across the country in an effort to revamp their 600 U.S. regional stations. In a company statement, spokeswoman Wendy Goldberg said the firings came about because Clear Channel rethought their regional market strategy and “reinvented our operations in those markets in a way that will let us…succeed using all of Clear Channel’s resources, scale and talent.” However, the layoffs proved controversial, as many media reform groups believe that Clear Channel is sacrificing radio’s integrity by replacing locally produced programs with less costly shows that are syndicated nationally.[10]

On October 29th, Clear Channel announced that it had stuck a deal with another record label, Naxos. Naxos is America’s largest digital distributor of independent

Naxos Logo [14]

classical music, with over 30,000 albums from various classical labels, including 6,500 on its own labels.[12] The deal is different from Clear Channel’s previous deals with Big Machine and Glassnote, as it only permits Clear Channel to pay Naxos for digital, not terrestrial, radio play.[13] The agreement is representative of Clear Channel’s current desire to continue to help radio permeate the digital world, and as part of the deal Naxos will assist with iHeartRadio’s digital classical station, “Classica.”[12]

November

On November 2nd, Clear Channel released their quarterly earnings report for the third quarter of 2012, which ended on September 30th of 2012. Clear Channel Media and Entertainment revenues experienced a 1%, $7 million dollar increase in comparison to the third quarter of 2011. This increase is due in large part to a 3% growth in radio revenues, which occurred as a result of increased national advertising, the growing popularity of digital radio service iHeartRadio, and the iHeartRadio Music Festival.[15]

On November 20th, Clear Channel announced that its popular digital radio service, iHeartRadio, has been downloaded more than 135 million times and has over 20

iHeartRadio Logo [17]

million registered users. These numbers are particularly impressive, considering that iHeartRadio was launched a mere 13 months ago. In a company statement, Clear Channel Media and Entertainment Chairman/CEO John Hogan said “iHeartRadio has reinvented the digital radio experience and is a key element of how Clear Channel continues to reshape the media and entertainment industry.”[16]

 

On November 29th, it was announced that innovative social commerce web site Lockerz made an agreement with iHeartRadio. Lockerz is a website on which users can discover the latest fashion trends and top brands, receive points (called PTZ) for sharing images and videos from the web, and use their PTZ for big discounts on fashion and electronic products.[18] Now, iHeartRadio’s 1,500 live and user-created custom stations are available on Lockerz, and members can earn PTZ for sharing and adding their favorite music and radio stations. Clear Channel hopes the agreement will help iHeartRadio to continue to grow in popularity. “Lockerz has built an incredibly passionate and social user base and is a great distribution platform for us,” said Brian Lakamp, President of Digital for Clear Channel Media and Entertainment.[19]

What’s Next for Clear Channel? 

Clear Channel is helping produce the 12-12-12 concert, a show that will take place in New York City on December 12, 2012, with all proceeds from ticket purchases going to the Robin Hood

Poster for the 12-12-12 concert, featuring some of the notable artists who will be playing at the show [20]

Relief Fund to assist the victims of Hurricane Sandy. The concert has already secured distribution to over one billion people via various mediums to maximize awareness and relief efforts, and in a joint statement, event producers James Dolan (Chairman of The Madison Square Garden Company), John Sykes (President of Clear Channel Entertainment Enterprises) and Harvey Weinstein (Co-Founder and Chairman of The Weinstein Company) said the concert and its media distributors “will enable us to create a tremendous and unprecedented fundraising effort on a global scale to benefit the victims of this devastating storm.”[21]

Tickets to the show are currently available on Ticketmaster

Because of its current debt situation, Clear Channel could be experiencing some financial turmoil in the future.  According to a Moody’s report released during the week of December 5th, while Clear Channel should be able to manage the amount of debt they have due through 2015, they could very well be unprepared to deal with the $10 billion of debt that will be due in 2016. Moody’s senior analyst Scott Van den Bosch writes that “the company’s ability to avoid restructuring will be challenging as debt levels will exceed our expected asset value. The possibility of a restructuring or a distressed exchange remains high…in our downside scenario the company is likely to face a restructuring of its balance sheet in excess of $16 billion in debt.” It is possible that Clear Channel will be able to avoid the restructuring, but it is going to “depend on the receptivity of the financial markets and moderate underlying interest rates.” So, in the future, Clear Channel will be very sensitive to changes in the economy.[22]

Contact Clear Channel

Wish to contact Clear Channel Communications?

Web: http://www.clearchannel.com

Mail: 200 E. Basse Rd. San Antonio, TX, 78209.

Phone: (210) – 822 – 2828

Sources

1.http://www.mxdwn.com/wp-content/uploads/2011/11/clear_channel-logo.gif

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

3.http://www.cjr.org/resources/?c=clearchannel

4.http://investing.businessweek.com/research/stocks/people/person.asp?personId=3155827&ticker=CCMO

5.http://www.clearchannel.com/Corporate/PressRelease.aspx?PressReleaseID=1166&p=hidden

6.http://www.radioinfo.com/tag/glassnote-entertainment-group/

7.http://www.hollywoodreporter.com/news/clear-channel-glassnote-deal-royalties-radio-374870

8.http://api.ning.com/files/hlQ-vCRmc7HLq7s2h095TW2ASni-7sqYnVv*HTSsNnP*DxoNt4pidwK7SO6S–ofSU6ONB9KxxSHctjKIrDFxMgiYnJq87GE/GlassnoteLogo.jpg

9.http://online.wsj.com/article/PR-CO-20121025-913636.html?mod=crnews

10.http://mediadecoder.blogs.nytimes.com/2011/10/27/clear-channel-cuts-d-j-s-across-the-country/

11.http://blogs.wsj.com/deals/2012/10/25/clear-channels-well-received-debt-exchange-creates-flexibility/?KEYWORDS=Clear+Channel

12.http://www.radioink.com/article.asp?id=2562695&spid=24698

13.http://mediadecoder.blogs.nytimes.com/2012/10/29/clear-channel-goes-classical-sort-of/

14.http://www.europadisc.co.uk/images/additional/Naxos%20Logo%20Square%20200×200.jpg

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

16.http://www.fmqb.com/article.asp?id=2577966

17.http://images.wikia.com/logopedia/images/6/68/Iheart_radio_logo.jpg

18.http://lockerz.com/101

19.http://www.prnewswire.com/news-releases/lockerz-announces-innovative-agreement-with-iheartradio-181421021.html

20.http://www.msgsoundcheck.com/content/dam/msgsoundcheck/featuredArticles/600x400_121212_soundcheck.jpg

21.http://www.clearchannel.com/MediaAndEntertainment/PressRelease.aspx?PressReleaseID=3162

22.http://blogs.barrons.com/incomeinvesting/2012/12/05/moodys-10b-of-debt-due-in-2016-could-trip-up-clear-channel/?mod=BOL_hpp_blog_ii 

 

 

CBS Radio/Infinity Broadcasting

Posted on by

CBS Radio – Courtesy of SportsMediaJournal.com

by Elgin Panetto

The media conglomerate known today as CBS Corporation Inc. was created in 1927, when a talent agent named Arthur Judson started his own radio network in order to showcase his own roster. He named his newly created network United Independent Broadcasters, but after a crippling amount of debt was accrued sold it to a man named William Paley for $400,000. [1] Columbia Broadcasting System, or CBS, has gone on to become one of the largest media companies in the world, with ventures in TV, Film, and Radio. In 2006 Viacom Inc., under the leadership of Sumner Redstone, decided to break up its entities to discontinue the age of media conglomerates and improve stock performance. During the split previously named Infinity Broadcasting, with their 179 stations at the time, was renamed CBS Radio and became a part of CBS Corporation under the leadership of Les Moonves. [2]

Company Overview:

CBS Radio currently holds 127 major market radio stations in 28 major markets throughout the United States of America. CBS Radio station formats run the full gamut including news, sports, talk, rock, country, Top 40, classic hits and urban. [3]

CBS Radio’s radio personalities attract almost 70 million weekly listeners. One of CBS Radio’s greatest strengths is their attention to on-air talent, in an age of radio where more automation usually means more dollars. In a recent interview with CBS Radio CEO Dan Mason, he explains the importance CBS Radio puts on the personalities who speak between playing music. “I don’t think the temptation is there to extract talk to add more commercials, the temptation is there to extract talk and thinking that was the clear pathway to get ratings. I believe that there is a fine line, a balance, that can’t be tilted to one side or another…” The rest of that interview with Mark Ramsey can be seen below:

CBS Radios Dan Mason on Radio’s Brands and its Digital Future from Mark Ramsey on Vimeo.

As stated before, CBS Radio stations can be found in 28 different major markets. In many of those markets CBS Radio finds itself with the #1 total rating. The list below, provided in the CBS Corporation 3rd quarter 2012 Investor Newsletter, shows CBS Radio’s strong performance regarding revenue in some of the largest markets in the country.

CBS Radio Revenue Ranking in Top 10 Markets
New York No. 1
Los Angeles No. 2
Chicago No. 1
San Francisco No. 1
Dallas No. 3
Houston No. 2
Philadelphia No. 1
Atlanta No. 2
Washington, D.C. No. 3
Boston No. 1
[4]

In each of those markets, CBS Radio’s high arching influence over both music and talk format stations can be easily seen. Below are just some of CBS Radio’s most influential channels across the United States.

WCBS-F in NYC
WCBS in NYC
WINS in NYC
KRTH in LA
KROQ-F in LA
KCBS in SF
KYW in Philly

[5]

 Executives

CBS Radio has been led by President and CEO Dan Mason for a total of 12 years. Mason started his position at the helm of CBS Radio in 1995 and continued until 2002. After a brief hiatus he returned as CEO in April of 2007. Mason has championed CBS Radio’s industry leading foray into the digital realm. As a keystone speaker at the 2011 RAIN (Radio and Internet Newsletter) Summit Dan Mason talked heavily about CBS Radio’s entrance into digital media, pointing out CBS Radio’s involvement streaming through Radio.com and Last.FM. He also noted that the profits are not coming yet, but success through digital streaming services will come in the long term. [6] Due to his outstanding leadership of CBS Radio, Dan Mason was awarded the National Radio Award in 2012 by the National Association of Broadcasters. [7]

Dan Mason – Courtesy of CBSRadio.com

Finances

CBS Radio’s performance, as a subsidiary company of CBS Corporation Inc., attributes to the stock performance of CBS Corporation Inc.. At the close of the New York Stock Exchange on December 5, 2012 CBS Corporation Inc. was trading at $35.43 a share. [8]

CBS Radio Stock – Courtesy of marketwatch.com

With $5.33 Billion of reported gross income in 2011, CBS Radio saw an increase of $.82 Billion over their reported gross income the previous year. After a steep drop from 2007 to 2009, CBS Radio has steadily increased gross income to the point of surpassing their 2007 mark. [8]

Recent Events

There have been many news-worthy moves by CBS Radio recently, whether it be format changes, new stations, acquisitions, or partnerships.

WODS 103.3 Format Change

At the end of the summer, WODS-FM in Boston changed formats. The switch moved the station from playing hits from the 60s-80s to yet another contemporary hits radio station, or CHR format. CBS Radio Market Manager in Boston Mark Hannon stated, “When looking at the habits of Boston radio listeners, it is clear the music most favored by the biggest group of people is contemporary hit music.” [9] The most recent ratings made available by stationratings.com have WODS-FM as the 12th most popular radio station in the Boston market. [5]

CBS Radio News receives Murrow Award

This past October the RTDNA (Radio Television Digital News Association) awarded CBS Radio News its fourth consecutive Edward R. Murrow Award. CBS Radio News was given the award due to excellence in broadcast and online journalism. At the awards CBS Radio News correspondent Cami McCormick, who was injured while reporting in Afghanistan, accepted the award for all of CBS Radio news. [10]

Edward R. Murrow Award – Courtesy of HuffingtonPost.com

CBS Radio steps up Hurricane Sandy relief efforts

In the aftermath of Hurricane Sandy, and the immense damage done to the east coast, CBS Radio used its vast resources and connections in the Music Industry to organize celebrity endorsements for donations to the American Red Cross. Some of music’s biggest stars such as Usher, Katy Perry, Carrie Underwood, Keith Urban, and Kenny Chesney recorded messages imploring audiences for donations. Usher’s public service announcement can be heard HERE. [11]

CBS re-ups contract with the Chicago Bears

For 13 years WBBM Newsradio in Chicago has been the exclusive provider of Chicago Bears live play-by-play announcement. The Chicago Bears have granted CBS Radio an extension of the companies exclusive rights to do the football team’s radio broadcast. The Bears have one of the largest fan bases in the entire sport, a size reflected by the astounding five CBS Radio stations that will simulcast each and every Bears game. [12]

Chicago Bears – Courtesy of RadioInk.com

CBS Radio buys 101.9 WRXP in New York

In early November CBS Radio announced the purchase of 101.9FM in New York, NY from Merlin Media for the sum of $75 Million Dollars. CBS Radio purchased the station in order to begin simulcasting WFAN on the higher definition 101.9FM. WFAN became the first ever all-sports talk station in 1987, and has pioneered the now insanely popular and lucrative 24/7 sports radio news cycle. WFAN houses many of sports radio’s biggest stars, including Boomer & Carton, Mike Francesa, and Joe Benigno. It also is the sole broadcaster of the Super Bowl champion New York Giants, New York Mets, Brooklyn Nets, and New Jersey Devils. This move by CBS Radio signals a response to ESPN NY’s recent decision to simulcast on 98.7FM. [13]

WFAN Logo – Courtesy of newyork.cbslocal.com

 CBS Radio announces launch of CBS Sports Radio Network

Perhaps the biggest news in the radio industry in the past few months has been CBS Radio’s announcement of CBS Sports Radio. In their press release the company called the  newly created station, “the largest major market sports radio network in the nation.” The network will launch on January 2, 2013 in at least eight stations full time. At the time of the announcement the station was reported to be carried part time in 14 more stations, and through a distribution deal with Cumulus Media Networks an additional 47 Cumulus stations. [14] Since then it’s been announced that the station will be on around 100 stations, with a reach of about 10 million households. While its estimated that ESPN Radio will continue to dominate with 350 full time stations in 30 million households, Dan Mason stated, “ESPN affiliates are in small markets. Maybe you find that adds up to a lot of audience.” [15]

CBS Sports Radio – Courtesy of CBSPressExpress.com

Footnotes

[1] Museum of Broadcast Communications 

[2] Infinity Broadcasting to Become CBS Radio

[3] http://www.cbsradio.com

[4] CBS 3rd Quarter 2012 Investor Newsletter

[5]http://www.stationratings.com/Default.aspx

[6] Dan Mason at RAIN Summit

[7]Dan Mason to Receive National Radio Award

[8]http://www.marketwatch.com/investing/stock/cbs/financials

[9] WODS Changes Format

[10]CBS Radio Takes Murrow Award

[11]CBS Assembles Big Names for Storm Relief

[12]CBS Extends Contract With the Bears

[13]CBS Purchases WRXP

[14]CBS Launching Sports Radio Network

[15]CBS Sports Radio to Compete with ESPN Radio