Private equity firm Alden Global Capital has said it will no longer support Emmis Communications Chairman/CEO Jeff Smulyan's plan to take the company private, Emmis said in a release Monday. Emmis on Friday failed for the fifth time to get a group of preferred shareholders to vote on a plan to exchange their stock for new notes; another meeting is set for Thursday.
Westwood One founder Norman Pattiz is retiring from the company's board as chairman emeritus and signs a consulting contract with the company. Gores Group Sr. Managing Director Mark Stone moves into the role of chairman. Pattiz said the change "allows me to play an active role at the Company I founded, working with people that I admire and respect, while continuing the other activities that are very important to me."
Steve Carver has been named SVP/Market Manager for CBS Radio's Los Angeles cluster, coming over from the same post in West Palm Beach. Carver is a broadcast vet who returned to CBS Radio earlier this year after serving as president and publisher of the Tribune-owned Hartford Courant. At CBS Radio/L.A., Carver succeeds Ed Krampf, who exits.
Listener Driven Radio, headed by Daniel Anstandig, brings in Brian Seeders as chief engineer while Gale Parmelee moves up to VP of programming support. Blake Weber and Craig Bowman also join the LDR engineering team.
Lincoln Financial Media makes a deal to buy Big League Broadcasting, which has been leasing LFM's Sports WQXI-AM (790 the Zone)/Atlanta. LFM also has Top 40 WSTR in the market, and with WQXI rejoining the fold, Star 94 VP/GM Rick Mack moves up to market SVP/GM.
The Dickey family expands its reach into publishing with an agreement to purchase Modern Luxury Media, a publisher of city magazines in markets including New York, Los Angeles, and Atlanta. Cumulus Media will operate Modern Luxury through its management services division.
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Clear Channel spent $1.37 million in the second quarter lobbying Congress on a variety of topics, including the Performance Rights Act and various regulatory issues, according to a federal disclosure filing.
Andrew Ross Sorkin joins the lineup at Radio Ink's Forecast 2011, set for December 7, 2010 at the Harvard Club in New York. Sorkin is the chief mergers and acquisitions reporter for the New York Times and the best-selling author of the recent Too Big to Fail, and he's as well connected in the financial world as anyone in radio. The thrice-daily "Business Brief With Andrew Ross Sorkin" is produced and distributed by United Stations Radio Networks. Click the headlne for Forecast information and registration.
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September 6: Cover Q&A: Arbitron President/CEO Bill Kerr Also:Jeff Haley and JohnDavid talk about the first combined RAB-NAB Radio Show DeborahParenti's Dialogue: Financial execs explain "How to Build a Budget" Gordon Borrell's Spam Filter: The mobile marketing backlash
Coming up in Radio Ink: September 20: Radio Show edition/Radio Wayne winners October 4: Fall News/Talk Update October 18: The Top PDs in Radio
Also: November 1: Focus on radio's top advertisers November 15: The Best Managers in Radio