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You may recall the radio industry was required to make quarterly payments of $3.75 million to Sprint in return for Sprint putting the NextRadio app on its phones. On August 9 that payment was made in full. However, on December 12 only a $2.2 million partial payment was made. While Emmis CEO Jeff Smulyan says he's not worried about it, he did say a couple of the larger companies have not paid yet.
The latest Emmis 10Q says, "NextRadio is in discussions with Sprint on its partial payment of the second quarterly installment; however, we believe Sprint has continued to pre-install the NextRadio application in accordance with the planned product rollout." Smulyan has repeatedly said most radio companies are on board with Nextradio, a point he emphasized again on Thursday morning's earnings call. An Emmis spokesperson added, "We do have commitments ? we're just working out machinations of payments."
(1/10/2014 7:55:26 PM)
In Jeff's Jewish pockets?
(1/10/2014 7:09:24 PM)
Where's all the money for commercials that we signed up to run for Dial Global?
(1/10/2014 3:51:56 PM)
Maybe, Jeff should have gotten Bob Struble to spin the numbers for him as "momentum accelerates".
(1/10/2014 12:48:04 PM)
Between the very, very meager downloads and the non-payment I'm sure more people realize that this is D.O.A.
Nobody can say that Jeff didn't try but I guess sometimes things just don't work out.
If broadcasters took this seriously, they would have already paid Sprint. Anyway, this is all a ruse to force IBOC chipsets into cell phones.
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