Seth Goldstein


605 3rd Avenue

New York, NY 10158



Key Executives

Haim Saban – Chairman

Randy Falco

Randel A. (Randy) Falco – President/CEO and Chairman

  • Served as President and CEO of AOL Inc. from 2006-2009 
  • Before that, had spent over 30 years at NBCUniversal Television Group; most recently as President and Chief Operating Officer
  • Responsible for both groups commercial and operational functions including affiliate relations, cable distribution, business development, information technology, and network and studio operations.

Andy Hobson

Andrew W (Andy) Hobson – Senior Executive Vice President & Chief Financial Officer

  • Shared several positions at Univision (Chief Strategic Officer, Executive Vice President)
  • Before Univision, Hobson was a principal at Chartwell Partners from ’90-’93; where he was instrumental in the 1992 leveraged buyout of Univision


Roberto Llamas  – Executive Vice President, Chief Human Resources Officer

  • Llamas comes from a background where he was head of Human Resources at Nielsen; a company with over 35,000 employees in over 100 countries 
  • Has held previous human Resources positions as Lehman Brothers, TRW, and General Electric


Beau Ferrari – EVP of Operations (Univision Networks)

  • Responsible for the growth and profitability of Univision’s content 
  • Serves as interim co-head of Univision Sports; he is responsible for the content on the 24-hour channel Univision owns titled, Univision Deportes


Univision was started in 1960 as an International Spanish Network by Emilio Azćarraga; a media-mogul responsible for forming and operating Grupo Televisa (Leading Spanish Network at the time). Through a partnership with Jerrold Perenchio of Venevisíon, the two business bought out two major network stations ins Houston, TX and Chicago, IL respectively. This led to to the 1996 formation and announcement of the company now known as Univision Communications. THe company has been focused on pertaining to the hispanic demographic across the United States through various media channels featuring, television and radio. They have had a lot of success standing at the top of their class and ratings for a hispanic-television station.


Univision Communications Inc. is the leading media company serving Hispanic Americans. With a number of current channels owned and operated by Univision Communications Inc., Univision Communications Inc. stands alone at the top of the Spanish-American Television totem-pole. The recent news coming out that as of last year,was that Univision Communications Inc. had surpassed ABC for the most watched network at night reaching over 10.8 million homes on the average evening. The numbers do not lie, and the numbers are what has led ABC and Univision to fuse together for a somewhat of a merger, creating a new English-based news channel covering Sports, Entertainment, and original Media Content.

Ben Sherwood of ABC News has been quoted saying “Fusion will be the ultimate meeting place for English-speaking Latinos. Our goal for this young, vibrant, and media-hungry audience to come to Fusion to be informed, entertained, and empowered. It will be fresh, fun, and optimistic and great interest to latinos and non-latinos alike” (WSJ, 1). Fusion will be interesting to see, as watching ESPN has become very natural for the majority of Americans. Seeing the potential cross-branding initiatives of both companies come into full effect will be very interesting.

The medium has been necessary overdue to the high volume of hispanic viewers and the somewhat smaller numbers of American viewers. The medium that “Fusion” will be provide will be one unlike any other, as no major company such as ABC has ever made such a strong push into the Latino marketplace for telecommunications. Other current competitors to Univision include; Belo Corporation, Citadel Corporation, and TV Azteca; which is Univision’s top competitor.

Univision currently has been seeing a large share of their viewers tune in for their shows

  • Arranque de Pasion 
  • Pq El Amor Manda

In addition to their 24-hour running show on sports titled, Univsion Deportes. Univsion offers multiple telenovelas which are spanish-based romantic dramas which seem to be the most popular based off of ratings in the hispanic marketplace. In addition to the telenovelas, the Univision Communications Inc. have worked very hard on various media platform operations. A mobile application for your smartphone will now allow the user to access exclusive Univision content and be regularly updated with new news developments, television episodes, in addition to exclusive webisodes featuring interviews with the cast members of some of the most highly-watched programs.

Univision Deportes

Univsion Deportes serves similar to ESPN’s “SportsCenter”, providing around the clock sports information and news headlines with a large team of anchors and reports. Univsion Deportes does not only entertain the hispanic or latino viewer, but anyone who can understand the spanish language will be able to see that the content is universal. Strongly pertaining to sports that are well-liked in the Spanish community, however, are still relevant in non-hospanic parts of the world.


Arranque de Pasion is a Webnovela series by Univision known for the drama between characters Checo and Ela. The stories and episodes vary on the never-ending lust and personal conflict that take place in this show. It is the 2nd highest rated show on the Univision network, and is becoming more popular in The United States.

ABC and Univision announced their finalized merger on February 11. This let the world know that two of the most powerful media players will be joining forces to bring together the American and Hispanic television communities together through cross-media branding and promotions. This will not only allow the American-based ABC to start branding themselves more in the hispanic markets, while Univision creates their name as a go-to news site in the United States and other english-speaking territories. The merger could not have taken place on a scale of much bigger proportion due to the conglomerate size of both of these companies individually.

The merger with ABC was a substantial power move for the American-based company, that saw the hand-writing on the wall of how successful the potential of a major media merger over different languages could possibly be. Teaming up with the strongest player in the spanish telecommunication game, ABC was able to do just that. Offering their content over cross-media platforms and opening doors for quality product enhancement from both the hispanic and non-hispanic communities alike.


1. Wall Street Journal

  • http://online.wsj.com/article/PR-CO-20130211-909202.html?mod=crnews

ION Media Networks

by John Baldwin

Ion Logo

Ion Media Networks’ Logo [1]

Corporate Headquarters

601 Clearwater Park Road

West Palm Beach, FL 33401


(561) 659-4122



Executive Team

Brandon Burgess

Chairman & Chief Executive Officer

Previously the head of Business Development at NBCUniversal, Brandon Burgess has guided ION Media Networks through a complete reversal—financially and operationally—since its re-branding in 2006. Under his leadership, ION Media Networks has expanded drastically, which is no easy feat for any independent television network company in the US. Also during his tenure, ION Television has seen unprecedented growth, and he has played a significant role in launching Qubo and ION Life [2].

Chris Addeo


Chris Addeo is the head of multiple areas of marketing, including Consumer, Sales, Distribution and Corporate Marketing. She is also responsible for developing ION Media Network’s strategic brand [3].


Douglas Holloway


Douglas Holloway maintains cable, satellite and telephone company partner relationships for each of ION Media Networks’ brands. He also oversees a distribution team in several areas across the US [4].

Jeff Quinn


As the director of the office of Finance, Jeff Quinn sets the financial policy and direction of ION Media Networks. He is credited with establishing ION’s Financial Planning & Analysis Group and also oversees business planning, development, and budgeting [5].


A Brief History

In February 2006, the company formerly know as Paxson Communications—founded in 1984—announced a change to its current name, ION Media Networks. The rebranding of Paxson Communications was done in an effort to create a fresh corporate identity which would reflect its commitment to providing consumers with high-quality media content by distribution to its network of television stations nationwide [6]. Today, ION Media Networks upholds that same commitment.

In 2008, ION Media Network’s primary television network was also re-branded, and has since gone by the name of ION Television. After the network’s re-branding, its reach expanded to about 260 million Americans in 100 million households. Its viewership doubled as well, and it reached the top 15 cable ratings in the United States in only 3 years, an extraordinary feat in American television history [7].



ION Media Networks is a privately owned, independent TV company, officially formed in 2006. The company’s main goal is to lead innovation in television content and technology, as well as provide a wide variety of entertainment to consumers. With the help of its three main branches—ION Television, Qubo, and ION Life—it serves well over 100 million homes in the United States [1]. In addition, ION Media Networks is a partial owner of Dyle, a mobile content service which was created through a joint venture involving a few other television companies [8].

ION Television

ION Television Logo [10]

ION Television’s New Logo [9]

ION Media Networks’ flagship television network, ION Television, is a leading entertainment network in the US. In fact, it stands within the top 15 networks among adults 25-54. ION Television relies on a combination of high-quality syndicated programming such as Criminal Minds, Without a Trace, Cold Case, House, and Leverage, as well as original programming such as Flashpoint and WWE Main Event. In addition, it carries many popular movies of a wide variety of different genres [1].


Qubo's Logo [10]

Qubo’s Logo [10]

Qubo is a television network for 5 to 8 year olds. With a combination of original programming and outside partnerships with organizations such as the US Olympic Committee and Reading is Fundamental, Qubo promotes literacy and a healthy lifestyle for kids. Qubo refuses to air national ads which feature unhealthy food and beverage choices in an attempt to reduce obesity rates in children. This network is available 24/7 on Cable, Satellite, AT&T UVerse and Verison FiOs, and it also airs programming blocks on NBC, ION Television, and Telemundo [11].

ION Life

ION Life's Logo [12]

ION Life’s Logo [12]

ION Life is a digital sub-channel of ION Television, dedicated to healthy living. It carries a vast array of entertaining shows aimed at inspiring people to live healthy, active, and overall better lives [1]. ION Life provides programming 24/7 and is available via Cable, Satellite and Telco carriage [13].


Dyle's Logo

Dyle’s Logo [14]

Dyle is a mobile television service which allows users to view digital broadcast television. It carries channels such as ABC, CBS, FOX, NBC, Qubo, Telemundo, and Univision, as well as some local broadcast channels which are not officially affiliated with Dyle mobile television. Unfortunately, like most television providers, it is not available in all markets [15].

Recent News

In 2010, ION Media Networks along with 11 other major broadcast television companies developed Dyle through a joint venture known as Mobile Content Venture, or MVC for short [8]. On April 3, 2013 it was announced that Dyle mobile television would be on display at NAB in the Las Vegas Convention Center [16].

In January of 2012, ION Media Networks alongside PMC announced ENTV as a new business partner, which launched a premium YouTube Channel to distribute entertainment news. ENTV provides YouTube viewers with breaking stories in the entertainment world directly from reliable sources such as Deadline.com, HollywoodLife.com, and TVLine.com [17].

In October of 2012, ION announced a long-term partnership for ION Television’s to be carried on DIRECTTV nationwide. The agreement ensures that ION Television will be available to DIRECTTV subscribers for years to come, and now in high-definition as well [18].

On March 4 of 2013, ION Television excitedly announced the launch of a multi-tiered business-to-business campaign. The campaign targeted at advertisers introduces IONTHUSIASTS, a digital representation of ION Television’s viewers. Alongside this announcement was the news that ION Television had a new logo and graphics package [19].

The IONTHUSIASTS represent Adults 25-34, 35-44 & 45-54 [20]

The IONTHUSIASTS represent Adults 25-34, 35-44 & 45-54 [20]


[1] Ion Media Networks http://www.ionmedianetworks.com/

[2] Brandon Burgess http://www.ionmedianetworks.com/about/brandon-burgess

[3] Chris Addeo http://www.ionmedianetworks.com/about/chris-addeo

[4] Douglas Holloway http://www.ionmedianetworks.com/about/douglas-holloway

[5] Jeff Quinn http://www.ionmedianetworks.com/about/jeff-quinn

[6] Paxson Communications http://www.annkarrick.com/news/news0602

[7] History http://www.ionmedianetworks.com/about/history

[8] About Dyle http://www.dyle.tv/about/mcv/

[9] ION Television’s New Logo http://www.deadline.com/2013/03/ion-television-gets-makeover-with-new-look-logo/

[10] Qubo http://www.qubo.com/

[11] About Qubo http://www.qubo.com/about

[12] ION Life http://www.ionlife.com/

[13] About ION Life http://www.ionmedianetworks.com/business/ion-life

[14] Dyle http://www.dyle.tv/

[15] More About Dyle http://www.ionmedianetworks.com/business/dyle

[16] Dyle News http://broadcastengineering.com/shows/mobile-tv-go-another-round-nab

[17] ENTV http://www.ionmedianetworks.com/press/pmc-and-ion-television-announce-launch-of-youtube?id=270

[18] DIRECTTV Agreement http://www.ionmedianetworks.com/press/ion-media-networks-announces-new-agreement-with-d?id=297

[19] IONTHUSIASTS & New Look http://www.ionmedianetworks.com/press/ion-television-unveils-new-look-for-the-network-an?id=299

[20] Meet the IONTHUSIASTS http://ionthusiasts.com/meet/

CBS Radio

by Sarah Shelton

1515 Broadway
New York, NY 10036
(212) 846-3939

About CBS Radio

CBS Radio, a division of the television and radio company CBS Corporation, is the third largest radio station owner and operator in America with 127 broadcast stations in 28 major markets across the country under its control, and over 70 million listeners tuning in weekly.[1] Its flagship broadcast formats are sports, news and talk, and CBS Radio continues to be the largest broadcaster of play-by-play coverage and discussion of the major sports franchises in America, including the MLB, NFL, NBA, and NHL.[2] CBS Radio also offers local digital media in over two dozen markets in the US, with local traffic, news, weather as well as other recorded content for on demand access on the Internet and custom mobile apps.[3] CBS Radio’s particular attention to on-air personalities has made it a continual standout in the increasing switch to automated and syndicated radio programming for broadcast radio today.[4]

Key People

Dan Mason

Dan Mason was named president and CEO of CBS Radio in 2012 and oversees all stations as well as the day-to-day operations of the subsidiary. He reports directly to CBS Corporation CEO, Leslie Moonves. Mason has been with CBS Radio for almost two decades, previously serving as an advisor and consultant before stepping up for the role of CEO. He has an extensive background in radio programming and his success with the strategic growth of CBS stations has been reflected in ratings from listeners of all ages.[5]

Kevin Weatherly

Kevin Weatherly is the Senior Vice President of Programming at CBS Radio, the Program Director of the top stations in the Los Angeles market, and also Kevin of Kevin and Bean, the flagship personalities of LA’s KROQ FM. He has been with CBS Radio for over two decades, helping develop audiences for fledgling bands through strategic programming and monumental development for the music industry and radio relationship. He has received accolades and awards from virtually every music publication, including Rolling Stone Magazine, Billboard, Entertainment Weekly and more.[6]

A Brief History

In 1927, talent agent Arthur Jodson created the radio network United Independent Broadcasters in order to showcase the artists that he was working with and as an act of defiance to his employer for refusing to include his roster in their broadcasts. He named the new venture United Independent Broadcasters, but was soon merged with the Columbia Phonograph Company after financial struggles threatened to bury the station before it had even begun. Under the new name Columbia Phonograph Broadcasting Company, the station was launched in September 1927 and quickly grew to earn affiliates and employees, enough to catch the eye of investor William Paley, who bought the station in January 1929 rebranded as Columbia Broadcasting System (CBS). The station continued to grow by embracing advertising, and became a frontrunner in national radio. The company also expanded with ventures in television and film, putting CBS on the map as one of the top media companies in the world. After being outbid for the rights to NFL Broadcast in 1993 and under new leadership, CBS was sold to Westinghouse Corporation for $5.4 billion and put under the control of Viacom. In 2005 with the economic downturn, the television and film divisions of CBS were spun off under Viacom to improve stock market performance and the radio sector along with Infinity Broadcasting, a division of Viacom, were merged and rebranded as the new CBS Radio.[7]

Timeline of Recent Events

On January 2, 2013, CBS Radio launched the largest major market 24 hour sports stations featuring high profile personalities, player and coach interviews, national game coverage and more. This is an effort to condense the 10 million listeners that tune in weekly to over 100 CBS affiliate stations for sports programming, and is meant to compete with rival ESPN Radio.[8]

On January 3, 2013, CBS streamed Bon Jovi’s Tampa concert on Radio.com, the first live event streaming venture for the company. This is meant to rival the live streaming features of iHeartRadio, currently the frontrunner in online radio streaming and app-based radio services, and will lead to many more given the success. A first attempt in December 2012 was postponed due to a major storm affecting the East Coast.[9] 

On February 7, 2013, Kevin Weatherly announced a renewal of his contract with CBS Radio, after more than 20 years of unparalleled contribution to the music industry and radio programming today. An on air personality himself on KROQ FM as well as a main contributor to radio’s second largest market in the nation, Los Angeles, Kevin is excited to continue to use his skills and expertise to benefit CBS Radio.[10]

The pioneering program CBS World News Roundup celebrated its 75th anniversary on March 13, 2013. It is the longest running newscast in history and provided a benchmark from which modern newscasts would be modeled. News programming was the capstone of CBS Radio programming in the 1950s and 1960s, when Americans turned to radio for entertainment and realtime war coverage. Legendary reporters such as Robert Trout and Edward R. Murrow got their start and made their mark on this program.[11]


On March 27, 2013 CBS reported fiscal year-end results: revenue is up 2% to $3.7 billion and says that revenues from non-advertising sources is growing even faster than those from advertising.[12]

Screen Shot 2013-04-07 at 7.30.21 PMAs a venture of CBS Corporation, the stock price of CBS Radio is dependent on the overall stock performance of all areas of the company in the market. As of April 5, 2013, CBS Corporation stocks are at 45.20 a share, with over 8 million shares on the market. The stock prices tend to fluctuate and rise around the most popular sports seasons, but typically stick around 45.00 a share.[13]

1. http://cbsradio.com
2. http://www.cbsradio.com/broadcast
3. http://www.cbsradio.com/local-digital
4. http://www.cbsradio.com/broadcast
5. http://www.cbsradio.com/executives?bio=dan-mason
6. http://www.cbsradio.com/programming?bio=kevin-weatherly
7. http://www.museum.tv/eotvsection.php?entrycode=columbiabroa
8. http://www.cbspressexpress.com/cbs-sports-radio/releases/view?id=34174
9. http://insideradio.com/article.asp?id=2623795#.UWHZt1vwJBo
10. http://www.cbspressexpress.com/cbs-radio/releases/view?id=34527
11. http://www.cbsnews.com/8301-201_162-57573836/reporting-on-history-cbs-world-news-roundup-marks-75-years/
12. http://insideradio.com/article.asp?id=2617560#.UWHZwFvwJBo
13. https://www.google.com/search?q=cbs+stock&aq=f&oq=cbs+stock&aqs=chrome.0.57j0l2j60j0j62.1484&sourceid=chrome&ie=UTF-8



univision logo



605 Third Ave. 12th Floor 

New York NY 10158

Phone:  (212) 455-5200

URL:  http://www.univision.com/

Key Executives

Randy Falco– CEO and COO

Before being appointed CEO, Falco was EVP and COO.  Before his time with Univisio, he was chairman and CEO of AOL, Inc.  Prior to this, he was President and COO of NBC Universal Television Group.

Andrew W. Hobson– Senior Executive Vice President and Chief Financial Officer

Andrew Hobson has been EVP of Univision Network since 1994, and his successful work in strategic planning for the network has resulted in a successful climb in rank.

Jonathan Schwartz- General Counsel

Cesar Conde–  President of Univision Networks

Roberto Llamas– EVP, Chief Human Resources Officer

Peter H. Lori- EVP, Controller & Chief Accounting Officer

Employees:  4,233

Company Profile

Boasting the Largest Spanish-language audience in the world (Nielsen), Univision is a television network based in America mainly targeted at spanish speaking families.  The company’s beginnings date back to 1955, when Raul Cortez started a spanish-language network in San Antonio, Texas.  As more hubs were added around the country, The Spanish International Network began to take shape.  in 1986, the FCC mandated that the service was sold to a domestic organization.  The name was then changed to Univision, and the network started to design their programming around a national audience.  Univision acquired the Hispanic Broadcastic Corporation in 2003 and created Univision Radio, the largest spanish radio network in America.  More recently, the addition of the Univision Deportes Network, a 24 hour sports channel, Univision tlnovelas, a channel that airs the highest regarded spanish novelas, and Uvideos, a bilingual channel, have all led to a seriously robust array of content.  ABC News and Univision News have announced a multiplatform project entitled “Fusion” to empower and inform the Spanish Speaking demographic in America.



Fiscal Year Ends:  December


El Gordo Y La Flaca


This entertainment-news program means “The Fat Man and the Skinny Lady.”  The show features interviews with musical artists and actors, and appears on weekdays on Univision Network.

Nuestra Belleza Latina


A reality/beauty pageant competition show, Nuestra Belleza Latina has 12 hopeful women compete for a title, earning cash prizes and cultivating an image on the Univision Network.  Giselle Blondet hosts this show, and coaches the winner a year after the seasons conclusion.  Casting occurs in six different cities within the United States, and Puerto Rico, and the selected contestants live together in a mansion in Miami for the length of the show.


Primer Impacto


Meaning “First Impact,” Primer Impacto is a news program that airs on Univision in the United States at 5pm weekdays.  One of the longer running shows on the network, it has been running since 1992, when it was broadcast under the name “Noticias y Mas” or, “News and More.”  The show has several segments, and these include the news of the United States and the world, República Deportiva (Sports Republic), movies, and weather.

Mira Quien Baila


A Spanish reality show, “Look Who’s Dancing” features a similar premise to Dancing with the Stars.  In fact, the show is actually included in the franchise.  Professional dancers are paired up with spanish celebrities and actors, and perform latin or ballroom dance numbers before judges to receive a score.  The grand prize is a donation of $50,000 to the charity of the winner’s choice.










DreamWorks Animation SKG Studios

Ricky Laubenstein



A Brief History

Steven Spielberg, Jeffrey Katzenberg, and David Geffen founded DreamWorks SKG in 1994. The “S”, “K”, and “G” comes from the first letter of the last names of the founders. The combination of Spielberg and Katzenberg’s directing prowess, with Geffen’s unmatched musical soundtrack production, turned the company into an instant powerhouse. Their focus was to create and distribute animated feature films. They made partnerships with Microsoft and special effects company PDI in the mid 90’s to increase production quality. The company was eventually sold to Paramount but has created nearly thirty films since it was founded.

Corporate Figures

Jeffrey Katzenberg- Chief Executive Officer and Director


Despite co-founding the company, Jeffrey has only served as Chief Executive Officer and member of the Board of Directors since 2004.  He has a long history of success including being chairman of the board of The Walt Disney Studios for ten years from 1984 to 1994. There he produced several smash hits including Aladdin, The Little Mermaid, and The Lion King.

Lew Coleman- President and acting Chief Financial Officer


Coleman has a rich financial back round working at Wells Fargo Bank for thirteen years and then another ten years at Bank of America where he served as Chairman and Head of Capital Markets. In 2001, he was blessed with the opportunity to be in the Northrop Grumman Board of Directors. By 2004, he became the director of DreamWorks and after a year was promoted to President of DreamWorks Animation.

Ann Daly- Chief Operating Officer


Ann’s experience is un-surmounted with fourteen years of work in The Walt Disney Company. There she developed strategies for the marketing, sales, and distribution for the home video division.  She was quickly appointed president of Buena Vista Home Video. She then moved to be the head of the animation division of DreamWorks SKG in 1997 where she focused more on the production side of things.  After several successful years she was promoted to chief operating officer in 2004.

Anne Globe- Chief Marketing Officer

anne globe

After graduating at Syracuse University, Globe got her start marketing at The Walt Disney Studios. With her wide set of skills and passion it was not long until she moved to be Director of National Promotions for Universal Pictures and Universal Studios Hollywood. Shortly after she was promoted to Vice President of Promotions at MCA/Universal. In 1996, Globe became a part of the DreamWorks team developing promotional campaigns for DreamWorks Animation feature films and creating consumer products. Anne Globe is mostly known for her strategic partnerships and long lasting relations with Hewlett Packard and Intel.

Financial Report

DreamWorks Animation SKG released their financial statement for the fourth quarter (2012) and compared them to the last four years.  There was a steady rise in equity starting at one billion in 2008 to 1.3 billion in 2011, however it platued at 1.3 again in 2012.  Yet total revenues and total assets did increase from the previous year, which will instill investor confidence.

Recent Projects

The Croods


“The Croods” takes place in pre-historic time and is about a family who lost their cave and no longer has a home. The movie, recently released on March 22 2013, follows their adventure of discovery through an unknown world. Starring Emma Stone, Nicolas Cage, and Ryan Reynolds it is a story that the whole family will enjoy. It was the number one ranked movie the opening weekend making a whopping $43 million. It grossed more over seas with a total of $204 million in foreign countries and $125 million domestically adding up to a worldwide gross of nearly $330 million. The marketing strategy was certainly geared towards kids with a partnership with Nickelodeon.  The movie was featured under Nickelodeon’s “Nicksclusives” and they consistently aired the movie trailer on the channel in between episodes.

<iframe width=”560″ height=”315″ src=”http://www.youtube.com/embed/VeG3Zmk08UU” frameborder=”0″ allowfullscreen></iframe>

Rise of the Guardians


“Rise of the Guardians” is another kid-oriented animated feature film that involves the holiday heroes we all know and love combining forces to stop evil and preserve imagination for the world. It was released last November 21st .Starring Hugh Jackman and Alec Baldwin the movie debut at a number four ranking the opening week grossing at nearly $23 million. It seems to be a re-occurring pattern for DreamWorks as foreign sales nearly doubled domestic sales with over $200 million with a total gross of over $300 million worldwide.  An essential element to the movie as a whole was the consumer products that went with it.  Having action figures of characters in the movie is a highly effective way of marketing and keeps it relevant to the kids. DreamWorks also made a unique business move with the release of the DVD around Easter time. Since the Easter bunny was one of the main characters in the story, the DVD came with two hopping eggs. It may seem miniscule, but even little things like eggs make the DVD more memorable and attractive for consumers.


action figure

-Rise of the Guardians action figures

Puss in Boots


“Puss in Boots” was released back on October 28, 2011 and is based off the supporting character in the “Shrek” movies. The story takes place long before Puss met Shrek and involves him saving his town with the help of Kitty Softpaws and Humpty Dumpty. The movie grossed $34 million opening weekend with a number one ranking. Domestic sales barely broke over production costs with nearly $150 million but almost tripled that with foreign sales at over $405 million. The marketing strategy fit well with the on your feet action in Puss in Boots. DreamWorks developed a series of games that involved different elements of the movie. You can be Puss and climb up the beanstalk in the game “Beanstalk Boost” or participate in a dance competition in the game “Dancing Boots”. You can even take a shot at directing with the game “Dance Fight Mix Master” where you pick different clips of the movie to mesh together and make them funny. Having interactive games gives kids a different perspective on the movie and creates an emotional attachment to the characters. With a spin-off movie like this it not only elaborates the “Shrek” series but also further promotes DVD sales and the movie “Shrek: The Final Chapter”. Now when consumers watch the classic “Shrek” tales there is so much more behind the character Puss in Boots because they now know his story.

<iframe width=”560″ height=”315″ src=”http://www.youtube.com/embed/Znuq-daWfLE” frameborder=”0″ allowfullscreen></iframe>


DreamWorks Animation SKG for the Future

DreamWorks Animation SKG has a long history of creative ingenuity.  They have seemed to dominate the animated feature film genre for quite some time now. The company has shown no signs of stopping and will continue to grow and develop new stories as well ass continue their spin-offs to keep their classics relevant.

Work Cited

[1] Company Information, Movies, Corporate figure heads and pictures http://www.dreamworksanimation.com/company

[2] Company Press http://topics.nytimes.com/top/news/business/companies/dreamworks-animation-skg-inc/index.html

[3] Company Timeline http://www.referenceforbusiness.com/history2/97/DreamWorks-SKG.html

[4] Company Insight http://www.closinglogos.com/page/DreamWorks+Pictures

[5] Company box office numbers http://www.boxofficemojo.com/

[6] Company Future




Paramount Pictures

by Alejandro Navas
Courtesy of www.closinglogos.com

Courtesy of www.closinglogos.com

5555 Melrose Ave, Los Angeles, CA 90038

(323) 956-8398

History [1]

Founding Fathers Courtesy of Paramount Pictures

Founding Fathers
Courtesy of Paramount Pictures

In 1912, Adolph Zukor acquired the U.S distribution rights to Queen Elizabeth, a silent French film, though his Famous Players Film Company. His success inspired Jesse Lasky and Cecil DeMille to team up and make The Squaw Man, the first Laky Feature Play Company film and first feature-length Hollywood film. In 1916, these two companies merged. Soon after, the new Famous Players-Lasky Corporation merged with a distributor called Paramount Pictures to form Paramount Famous Lasky Corporation, the first company that was able to control all aspects of filmmaking (production, distribution and exhibition). This company went bankrupt through the great depression in 1932, but Zukor reorganized the company, named it Paramount Pictures Inc. and brought success back to it.

Paramount Pictures Today

Paramount Pictures Studios Courtesy of magazine.uc.edu

Paramount Pictures Studios
Courtesy of magazine.uc.edu

Paramount Pictures Corporation is owned by and is a branch of the media conglomerate Viacom. Paramount produces and distributes television and film material that has been very successful over the years, allowing the company to be ranked as one of the most lucrative and largest movie studios. It is the fifth oldest film studio in the world and the last major film studio located in Hollywood district, California. Paramount Pictures is divided into eight sub-divisions: Paramount Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc, Paramount Studio Group, Worldwide Television Distribution, Paramount Famous Productions and Paramount Parks & Resorts [2]. In addition, Paramount Pictures is part of the Paramount Motion Picture Group, which also includes Paramount Vintage, Paramount Classics, Paramount Animation, Insurge Pictures, MTV Films and Nickelodeon Movies [3].

Executives [3]

Brad Grey

Brad Grey Courtesy of www-deadline-com.vimg.net/

Courtesy of www-deadline-com.vimg.net

Grey is the Chairman and Chief Executive Officer of Paramount Pictures. He is responsible of the development and production of all the feature films included in the Paramount Motion Picture Group. His responsibilities also include the worldwide business operations for all the sub-divisions of Paramount Pictures. Grey produced the award winning series The Sopranos and he is the winner of various awards including multiple Golden Globes and Emmy Awards.  He is also the founder of Brillstein-Grey Entertainment, Hollywood’s most successful management and production firm according to Forbes.

Rob Moore

Courtesy of www.hollywoodreporter.com

Courtesy of www.hollywoodreporter.com

The Vice Chairman position was given to Moore in 2008. His responsibilities ensue to oversee Paramount’s Worldwide Marketing, Distribution, Home Entertainment, Digital, Interactive, Television, Licensing, and Business Affairs divisions. Before working for Paramount, Moore worked thirteen years at The Walt Disney Studio and then founded Revolution Studios.

Frederick Huntsberry

Courtesy of www.123people.com

Courtesy of www.123people.com

In 2006, Huntsberry was named Chief Operating Officer. He takes care of the worldwide strategic planning and operations for the studio. Prior to working at Paramount Pictures, Huntsberry worked NBC Universal, where he held the President position.

Adam Goodman

Courtesy of thezog.wordpress.com

Courtesy of thezog.wordpress.com

Goodman has been the President of Paramount Film Group since 2009. Prior to working at Paramount Pictures, Goodman was the President of Production at Dreamkworks Studios.


Hansel & Gretel: Witch Hunters

Courtesy of IMDb.com

Courtesy of IMDb.com

Hansel & Gretel: Witch Hunters Trailer

Hansel & Gretel was released on January 25th, 2013.  This film is a tweaked version of the fairy tale Hansel & Gretel, where they become bounty hunters and follow and kill witches all around the world. This film made a staggering $19.7 million gross on the opening weekend, placing it in the number one spot at the time. The following weekends, the weekend gross plummeted down to $9 million and continued to drop constantly. The movie made its budget back domestically, making $55.4 million when the production budget was $50 million. Where Paramount succeeded immensely with this film was in the foreign market, making $163.8 million, more than triple the budget. This totals $219.2 million worldwide [4]. Paramount’s foreign marketing and distribution, as well as good reviews allowed this movie to be profitable.

Top Gun 3D

Courtesy of www.beyondhollywood.com

Courtesy of www.beyondhollywood.com

Paramount re-released the famous 1982 Top Gun starring Tom Cruise on February 8th, 2013. They re-mastered the film into IMAX 3D and also released it in Blu-ray [5]. The re-mastering of this film is cheaper than the actual production, so Paramount is smart to use old material, adapt new technology that audiences are attracted to, which is relatively cheaper, and then most likely make a profit out of doing this. On it’s release weekend, Top Gun rounded the top 10s with $2 million including both ticket and Blu-ray sales [6].



G.I. Joe: Retaliation

Courtesy of IMDb.com

Courtesy of IMDb.com

G.I. Joe: Retaliation Trailer

Released on March 28th, 2013, G.I. Joe: Retaliation, starring Dwayne Johnson, D.J Cotrona and Channing Tatum, is about the G.I. Joes fighting their enemy Cobra and at the same time survive threats from the government that could wipe them out. This is the second G.I. Joe produced under Paramount Pictures, the first one was G.I. Joe: The Rise of Cobra back in 2009 [7]. Retaliation’s opening weekend gross was only $10.5 million, while it’s second weekend gross increased to $55.0 million. Worldwide, Retaliation has already made its budget of $130 million back, with $231.8 million. This film is only on its second week, therefore if weekend gross is constant, it will generate a lot of profit for Paramount worldwide [8].


Hansel & Gretel:  Witch Hunters Sequel [9]

On March 18th, 2013, after Hansel & Gretel reached $200 million worldwide, Paramount and MGM confim that a sequel is in development. The revenue that the film is generating hints that audiences are interested in this film, and would probably watch a sequel. As said before, even though this film only opened with $19.6 million domestically, most of the profit is being generated overseas. The producers of the first film, Will Farell, Adam McKay and Kevin Messick are expected to return and produce the second one. This signals the beginning of a franchise.

Satellite Movie File Delivery To Theaters [10]

Courtesy of www.deadline.com

Courtesy of www.deadline.com

On March 7th, Paramount signed on for satellite delivery of digital movies. A delivery service like such, would be cheaper and faster than what is used today. Today’s delivery consist of the physical transportation of harddrives to cinemas, but with satellite delivery that job would be cut. Paramount joined this initiative with three production companies and three major theater chains. This initiative is being carried out by the Digital Cinema Distribution Coalition.


[1] The Paramount Story http://www.paramount.com/100-years-paramount/paramount-story

[2] Paramount Divisions http://www.paramount.com/inside-studio/studio/divisions

[3] Paramount Motion Picture Group http://www.paramount.com/inside-studio/studio/executives/meet-executives/brad-grey

[4] Box Office Mojo: Hansel & Gretel http://www.boxofficemojo.com/movies/?id=hanselandgretelwitchhunters.htm

[5] Top Gun 3D IMAX http://www.imax.com/movies/m/top-gun-an-imax-3d-experience/

[6] Deadline – Top Gun 3D http://www.deadline.com/2013/02/eastern-winter-storm-could-devastate-box-office-as-movie-theatre-chains-shut-down/

[7] IMDb – G.I. Joe http://www.imdb.com/title/tt1583421/?ref_=sr_1

[8] Box Office Mojo: G.I. Joe: Retaliation http://www.boxofficemojo.com/movies/?page=main&id=gijoe2.htm

[9] Deadline – Hansel & Gretel Sequel http://www.deadline.com/2013/03/hansel-and-gretel-witch-hunters-sequel/

[10] Deadline – DCDC http://www.deadline.com/2013/03/disney-paramount-lionsgate-join-wb-uni-for-satellite-movie-delivery-to-theatres/

Liberty Media Corporation

By McCauley Braun

Picture courtesy of Liberty Media Corporation

Picture courtesy of Liberty Media Corporation

Liberty Media Corporate Office and Headquarters

12300 Liberty Boulevard

Englewood, Colorado  80112

Telephone: (720) 875-5400

Company Overview

Liberty Media Corporation is a mass media and communications company that owns a wide range of companies within the entertainment business. Some of it’s subsidiaries include True Position, Inc., Atlanta National League Baseball Club, Inc., Live Nation, Barnes and Noble, and Sirius XM. Liberty Media Corporation also holds minor equity investments in Time Warner Inc. and Viacom.

Management Team

John Malone – Chairman

Picture Courtesy of Liberty Media, Inc.

Picture Courtesy of Liberty Media, Inc.

Mr. John Malone has been the chairman of Liberty Media Corporation since 1990, and the chairman of Liberty Global, Inc., Liberty Media Corporation’s cable provider – which happens to be the leading international cable operator. Mr. Malone has received many awards throughout his career, including the NCTA Vanguard Award in 1983, which is considered one of the highest honors and most prestigious awards in cable television [1].

Greg Maffei – President and Chief Executive Officer

Picture Curtesy of Liberty Media, Inc.

Picture Courtesy of Liberty Media, Inc.

Mr. Greg Maffei has been Chief Executive Officer since 2006.  Mr. Maffei  serves as the chairman for some of Liberty Media’s largest assets including Starz, Live Nation, and Sirius XM. In addition, Mr. Maffei also serves as President and Chief Executive Officer of Liberty Interactive. Under Mr. Maffei’s delegation, Liberty Media Corporation has exceeded some of the major competing media companies in the industry [1].

Richard N. Baer – Senior Vice President and General Counsel

Picture Curtesy of University of Denver

Picture Courtesy of University of Denver

Mr. Richard N. Baer was just recently elected Senior Vice President and General Counsel in January 2013 [1]. Mr. Baer is responsible for overseeing Liberty Media Corporation’s legal, regulatory, and compliance matters [2].

Mr. David J. A. Flowers – Senior Vice President and Managing Director or Alternative Investments

Picture Courtesy of Liberty Interactive, Inc.

Picture Courtesy of Liberty Interactive, Inc.

Mr. David J. A. Flowers has served as senior vice president and managing director of alternative investments since November 2011 [1].

Albert E. Rosenthaler – Senior Vice President (Not Pictured) Mr. Albert E. Rosenthaler has served as senior vice president of Liberty Media Corporation since May 2007. Mr. Rosenthaler is responsible for overseeing the company’s corporate tax functions [1].

Christopher W. Shean – Senior Vice President and Chief Financial Officer (Not Pictured) Mr. Christopher W. Shean has served as senior vice president and chief financial officer since January 2011. As senior vice president and chief financial officer, he oversees all accounting and treasury functions at Liberty Media Corporation [1].

A Brief History

Liberty Media’s beginning was it’s merging with Tele-Communications (TCI) in the late-90s [3]. In 1998, Tele-Communications merged with AT&T, which consequently made Liberty Media Interactive, a media conglomerate branch of Liberty Media Corporation that creates trading stock, a tracking stock of AT&T in the New York Stock Exchange. However, in 2001, Liberty Interactive split from AT&T and began trading stock under it’s own name. In 2003, Liberty Interactive merged with Ascent Media Group and Liberty Satellite and Technology, Inc. It wasn’t until 2011 that Liberty Interactive separated from Liberty Media Corporation which held all of the business, assets, and liabilities previously attributed to Liberty Interactive [4].

Quarterly Report – Year End 2012 Financial Report

On January 11, Liberty Media Corporation completed it’s official separation from Starz, and Liberty Media Corporation received $1.2 billion in compensation. In addition, the FCC approved Liberty Media Corporation’s complete control over Sirius XM. Consequently, Liberty Media Corporation purchased 50 million more shares in Sirius XM which made Liberty Media Corporation 50% owner, and therefore resulted in consolidation. Liberty Media Corporation also purchased more shares in Live Nation which increased Liberty Media Corporation’s ownership by 27%.

Overall, Liberty Media’s revenue decreased 52% to $426 million in the fourth quarter, and decreased annually 32% to $2 billion. Additionally, operating income before depreciation and amortization decreased 76% to $77 million for the quarter, and decreased 58% to $450 million a year. Lastly, operating income decreased 91% to $25 million for the quarter, and 66% to $326 million annually. According to Liberty Media Corporation, the loss of revenue can be attributed to deferred revenue costs of one of their assets, True Position, Inc., the prior year [5].

Liberty Media Corporation’s Assets Today

Liberty Media Corporation holds a myriad of assets both directly and indirectly through joint ventures, partnerships, common stock investments, and assets convertible into common stock.

Associated Partners, L.P (37%): An investment and operating investment agency that helps customers receive long-term, risk balanced tax refunds.

Atlanta National League Baseball Club, Inc. (100%): Owner of the Atlanta Braves and their assets which include some minor league baseball clubs.

Barnes & Noble, Inc. (17%): The world’s largest bookstore operating in 50 states as well as online. Barnes & Noble, Inc. is also a Fortune 500 company.

CenturyLink, Inc. (<1%): Provider of broadband, voice, and video services. CenturyLink, Inc. operates in 37 states.

Crown Media Holdings, Inc. (3%):  United States cable owner and provider.

Ideiasnet (5%): Technology, media, and telecommunications developer and provider. Idaiasnet acquires stakes in companies’ projects and invests in those projects.

Kroenke Arena Company, LLC (7%): Owner of The Pepsi Center, a sports facility in Denver, Colorado.

Leisure Arts, Inc. (100%): Owner of publisher of crafts, decorating, lifestyle, and other home improvement “how-to” books.

Liberty Associated Partners, L.P. (29%): Investment firm specializing in private equity investments.

Live Nation Entertainment, Inc. (27%): Largest live entertainment company in the world that specializes in sponsorship, ticketing solutions, artist management, eCommerce, and concert promotion and venue operations.

MacNeil/Lehrer Productions (67%): Producer of PBS News HourI and other educational documentaries.

Mobile Streams Plc (16%): Global mobile content retailer. Mobile Stream PIc sells music, polyphonic ringtones, videos, and graphics.

Sirius XM Radio Inc. (50%): American satellite radio provider. Sirius XM Radio, Inc. provides all content from talk to sports, to entertainment, to Top-40 hits, all commercial-free.

Sprint Nextel Corporation (1%): Provides a range of wireless and wireline communications products.

Time Warner Cable Inc. (1%): One of the largest cable providers in the world. Time Warner Cable offers video, high-speed data, and voice services over broadband cable systems.

Time Warner Inc. (1%): Media and entertainment company that provides film entertainment, television networks, cable systems, interactive services, and music.

TruePosition, Inc. (100%): Owner of company providing location-based solutions for national security and public safety.

Viacom Inc. (1%): Global media company whose assets include companies such as MTV, Paramount Pictures, CMT: Country Music Network, TV Land, and Comedy Central.

All information on assets source [6].


[1] http://ir.libertymedia.com/management.cfm

[2] http://iaals.du.edu/about-the-institute/board-of-advisors/richard-n-baer/

[3] http://en.wikipedia.org/wiki/Liberty_Media

[4] http://www.libertymedia.com/company-history.aspx

[5]  http://ir.libertymedia.com/releasedetail.cfm?ReleaseID=743807

[6] http://www.libertymedia.com/asset-list.aspx



by Lyndsey Lombard
Image courtesy of articles.latimes.com

Image courtesy of articles.latimes.com

                                 10250 Constellation Blvd. Los Angeles, CA 90067                                    310.449.3000 / www.mgm.com

A Brief History

MGM (Metro-Goldwyn-Mayer) Studios is an American media and entertainment company that produces and distributes films and television programs. It was founded in April 1924 and has been producing classic films since then such as “Rocky,” “West Side Story,” and “The Wizard of Oz.” While the company has not been producing as many movies independently after coming back from bankruptcy in 2010, it still is responsible for distributing many recent popular films [1]. MGM currently has a distribution deal with Sony Pictures Entertainment, which allowed it to distribute the most recent Bond movie, “Skyfall” [2]. Some of the current films MGM has co-produced are “The Hobbit,” “21 Jump Street,” and “Hansel and Gretel.”

Key Figures

Image courtesy of aceshowbiz.com

Image courtesy of aceshowbiz.com


Gary Barber is Chairman and CEO of MGM, Inc. and has held this position since October 2012. Previously, he served as Co-Chariman and CEO since December 2010 alongside Roger Birnbaum. Barber and Birbaum founded Spyglass Entertainment together in 1998 [3]. With Barber’s help, MGM has been able to make a strong comeback after declaring bankruptcy in 2010.




Image courtesy of latimesblogs.latimes.com

Image courtesy of latimesblogs.latimes.com

Ken Schapiro took on the title of Chief Operating Officer in February 2011. He was previously the co-founder of the private investment management company, Qualia Capital LLC [3].

Image courtesy of www.hollywoodreporter.com

Image courtesy of www.hollywoodreporter.com

As President of the Motion Picture Group, Jonathan Glickman, is in charge of the production and development of all MGM films. He too has a successful history prior to this position at Spyglass Entertainment [3].


The future is looking up for MGM post-bankruptcy.  After MGM acquired Carl Icahn’s stake for $590 million in July 2012, the company went public [4].  According to the 2012 year-end results, revenue was up 97% over 2011.  They reported total revenue of $1.38 billion, which was an increase of $681 million from the prior year.

“Skyfall” and “The Hobbit: An Unexpected Journey” landed MGM with two films in the top 15 of box office history.  These two films also gave MGM the title of being the only studio to have two back-to-back films make $1 billion at the box office.

Image courtesy of imdb.com

Image courtesy of imdb.com

“Skyfall” was named the biggest James Bond release of all time and also the biggest film in the UK by crossing the £100 million mark.

The total home entertainment revenue of 2012 was greater than that of 2011 even though no new titles were released. The fourth quarter was extremely strong with $96 million in revenue, which shows how successful the promotions for James Bond 50th anniversary were.  The worldwide home entertainment generated a total of $195 million, which was $1 million more than the prior year.

The worldwide television licensing revenue generated a total of $395 million, which was also a large increase by $23 million from the prior year.

The 2012 Adjusted EBITDA showed a 48% increase to $286 million.  It was adjusted due to revenue growth.  The revenue growth was so substantial that it offset the increase in marketing, distribution, and operating expenses [5].

Recent Releases

Image courtesy of www.comingsoon.net

Image courtesy of www.comingsoon.net

Trailer: http://www.youtube.com/watch?v=TB11JlyjmkE

Hansel & Gretel: Witch Hunters was released January 25, 2013 and directed by Tommy Wirkola.  MGM co-produced it with Paramount. It is a twist on the children’s fairy tale, Hansel & Gretel.  In the movie, Hansel and Gretel are all grown up and now bounty hunters that kill witches.  It was released in 3D and IMAX. The movie made $19 million in its opening weekend and $219 million total worldwide. It made a lot more money overseas than domestically.  Its production budget was $50 million [6]. Hansel & Gretel will be released on Blu-ray and DVD on June 11, 2013.

Image courtesy of www.comingsoon.net

Image courtesy of www.comingsoon.net

Trailer: http://www.youtube.com/watch?v=QLR3HrV71yM

G.I. Joe: Retaliation was released March 29, 2013 and directed by Jon M. Chu.  This is the third movie out of the series and it starred new cast members such as Dwayne “The Rock” Johnson and Bruce Willis.  It was #1 its opening weekend making $40 million.  Its total worldwide gross is $231 million so far.  Its production budget was $130 million. This movie was also released in 3D and IMAX [6].

Upcoming Films

Image courtesy of imdb.com

Image courtesy of imdb.com

Trailer: http://www.youtube.com/watch?v=H369sxjyhx8&feature=player_embedded

Carrie is an upcoming horror film that is the third adaptation of the Stephen King’s 1974 novel, Carrie. The film is co-produced by MGM and Screen Gems. It stars Chloe Moretz and Julianne Moore.  The release date is set for October 18, 2013. With this release, MGM and Screen Gems are hoping to stay as close to the original novel’s storyline.  Their current promotion for the movie is extremely original.  At the end of the trailer, they provide you with a toll free number to call, which plays back a scene with the characters.

Future MGM Films

There is definitely a trend of adaptations and remakes in MGM’s upcoming film releases.  Two other upcoming releases are “RoboCop,” which is set to release February 7, 2014, and “Hercules: The Thracian Wars,” which is set to release August 8, 2014.

Image courtesy of www.comingsoon.net

Image courtesy of www.comingsoon.net

“RoboCop” is a science fiction action film that will feature Samuel L. Jackson, Michael Keaton, and Gary Oldman.  It is a remake of the original 1987 film. José Padihla, a Brazilian film director, who has not released a feature film in the U.S. yet, will direct it [7].

“Hercules: The Thracian Wars” will feature Dwayne “The Rock” Johnson as Hercules in this adaptation of the Radical Studios graphic novel from 2008.  Its main competition in the box office will be Disney/Marvel’s “Guardians of the Galaxy,” which is set to release a week prior.  If this movie is successful, it could lead to another franchise for MGM [8].

More recently MGM has teamed up with GK Films to develop a new Tomb Raider franchise based on the Lara Croft video game franchise. The two original films from 2001 and 2003 that starred Angelina Jolie grossed $432 million worldwide so MGM hopes to achieve the same success [9].

Image courtesy of www.filmofilia.com

Image courtesy of www.filmofilia.com

“The Hobbit” trilogy was confirmed in a MGM news release this past February.  The second film, “The Hobbit: The Desolation of Smaug” was given a December 13, 2013 release date and the third film, “The Hobbit: There and Back Again,” was officially given the release date of December 17, 2014. The first film in the trilogy did so well that they hope the success will follow throughout.  MGM is co-producing these films 50/50 with New Line Cinema [10].

With all of these plans in place, MGM’s future looks strong and successful.


1. MGM History

2. Sony Pictures Deal

3. MGM Today

4. Carl Icahn sells stake in MGM

5. MGM 2012 Year-End Results

6. Box Office Mojo

7. RoboCop Release

8. Hercules Release

9. Tomb Raider Franchise Announcement

10. The Hobbit Trilogy Announcement


by Josh Campbell

Cumulus Media, Inc.

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

Cumulus Media Logo [2]

1.0 Company Overview

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

2.0 Key People

Lewis W. Dickey [10]

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

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

3.0 Financials

3.1 Income Statement [12]

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

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

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

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

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

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

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

3.2 Stock History and Target

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

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

4.0 Recent Activity

4.1 January

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

Nash 94.7 Logo [23]

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

4.2 February

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

4.3 March

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

4.4 April

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

5.0  Future Plans 

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

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

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

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


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

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

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

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

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

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

[7] http://www.sweetjack.com/local/

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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