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Showing posts with label Details. Show all posts
Showing posts with label Details. Show all posts

Tuesday, October 7, 2014

The Details of The Deal

10-2-2014

Beasley trades fives major market stations, two in Philadelphia and three in Miami for 14 CBS stations. Beasley picks up six in Tampa, just up the road from the company's home base in Naples, seven in Charlotte, and Sports Radio WIP-AM in Philadelphia. 

Beasley CEO George Beasley said, "Throughout Beasley Broadcast Group's 53-year history, we have actively managed our station portfolio with the goal of serving the local communities where we operate, diversifying our operations, managing risk, and improving financial results. The asset exchange agreement with CBS Radio addresses all of these strategic objectives as, upon completion we will expand our station base by nine stations and add completed clusters in Tampa and Charlotte which complement our already strong mid-Atlantic presence. Furthermore, the transaction is also consistent with our long-term strategy to operate leading clusters in large- and mid-size markets."

Here are the stations in the deal...

Beasley Broadcast Stations to be Exchanged to CBS Radio

CBS Radio Stations to be Exchanged to Beasley Broadcast

The transaction is expected to close in the fourth quarter.

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Tuesday, September 3, 2013

Details From The Dial Global Release

8-30-13

Dial Global announced today that Dial Global and Cardinals Merger Corporation, a wholly-owned subsidiary of Cumulus Media, have entered into an agreement and plan of merger. Dial Global will become a wholly owned subsidiary of Cumulus. While the $260 million purchase price payable in the merger is insufficient to repay all of the Company's indebtedness and the liquidation preference on all of the Company's outstanding preferred stock, as part of the Merger Agreement, the holders of the Company's Series A, B, C and D Preferred Stock agreed to contribute a portion of their shares of Series A Preferred Stock, and all of the shares of Series B, C and D Preferred Stock to the Company for no consideration, effective immediately prior to the merger.  As such, upon consummation of the merger, each outstanding share of common stock of the Company will be converted into the right to receive $0.155, and the balance of the merger consideration, after repayment of indebtedness and transaction expenses and subject to certain escrow holdbacks, will be distributed as merger consideration to the Company's Series A preferred stockholders, based on the liquidation preference of the shares of Series A Preferred Stock remaining outstanding after giving effect to the above described contributions of the other shares of preferred stock.

Shortly following the entry into the merger agreement, stockholders holding approximately 90% of the Company's common stock entered into a written consent approving the merger.  The merger is expected to close by the end of 2013, subject to the satisfaction of the closing conditions, however, there can be no assurances that the merger will close within such timeframe, or at all.



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Sunday, August 11, 2013

Finebaum National Show Details Announced

8-8-13

The Paul Finebaum Show will debut on Monday, Aug. 12, at 2 p.m. ET. The four-hour daily program will be produced by ESPN Radio.Cumulus Media Networks will distribute the show. ESPN affiliated stations in every market will have the first opportunity to carry the show. Finebaum's former home station in Birmingham (WJOX 94.5 FM), as well as WAPI 100.5 FM, will carry the show. His previous show attracted nearly a quarter of the adult male listeners in Birmingham, ESPN?s highest-rated college football television market the past several years.



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Wednesday, March 20, 2013

Dickey Details The Game Plan

3-19-2012

Cumulus CEO Lew Dickey told investors and analysts Monday morning that the company has had its hands full with integration, turnaround and developing new growth initiatives, all which should pay dividends in 2014. The integration had to do with Citadel and CMP which took Cumulus from 330 stations in 57 markets to 570 stations in 120 markets. The turnaround of Citadel included the hiring of 100 new salespeople, over 50 new managers and focusing on 10 stations that are being blamed for the revenue issues Cumulus is having. And the growth initiatives including making investments in new verticals such as Sports (with CBS radio), traffic, SweetJack and now NASH-FM in New York City.

Those 10 major market news/talk stations are still a revenue drag on the company that Dickey says should break even by the middle of 2013. "They were negative in Q4, they are negative in Q1 of this year. We expect them to break even in the second quarter and we'll make up the difference in the back end of the year. We're on target to achieve that objective." In August of 2012 Dickey said these ten stations, including WABC-AM in New York, KGO-AM in San Francisco and KABC-AM in Los Angeles, were "under-invested vehicles for syndication." These ten stations account for about 10 percent of Cumulus' total revenue.

On the Cumulus growth initiatives, Dickey said the company made investments in the CBS Sports Network, Right Now Traffic and Daily Deal play, SweetJack. His expectations are that those businesses will break even in 2013 with growth in 2014. Dickey says Sports and Traffic alone are both $150 Million revenue markets.

The industry is well aware of huge revenue potential in sports. In addition to the CBS/Cumulus launch, NBC and Dial Global are getting set to launch a network on April 1st. Dickey says CBS has launched a great lineup and 300 affiliates are on board adding,  "The next big wave will come when contracts expire." For example, if a station is carrying ESPN or Fox Sports and decides to switch affiliations. Dickey said clearances and ad bookings are off to a very good start. "Ad Sales look strong. We expect to exceed our budgets in 2013.

At SweetJack, Dickey said that business took in $10 million in revenue in 2012 and is still in the investment stages. All of the new Cumulus initiatives are being invested in to help drive revenue in addition to regular spot sales. Dickey says scale has its advantages. "The legacy Cumulus stations never could have done this. Businesses have to evolve and innovate."

(3/19/2013 1:12:37 PM)
I've listened to KABC-Los Angeles for over 30 years. The syndicated garbage from New York is killing the station. Los Angeles is a left-of-center city on the West Coast; we don't want the ranting of right-wingers from the East Coast. When KABC addressed a variety of topics targeted to L.A. listeners, it was always among the five highest rated stations in the market. When it became all right-wing politics, with few locally-generated programs, the ratings tanked. Go back to Live and Local!
(3/19/2013 9:25:59 AM)
Any station that can draw and hold a massive audience as well as cut some decent, effective spots will have numbers and advertisers.
On surface, this doesn't seem like "god-particle physics".
(3/19/2013 9:04:20 AM)
One might consider the graying demographic of AM listeners are a reason why revenues are down...no station...not even WABC would be immune from that issue.
(3/19/2013 5:51:06 AM)
Why are the 10 major market sations a "revenue drag" on the company? Those legendary stations should be the golden goose.

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Monday, December 10, 2012

MIW Mentoring Details Announced

12-6-2012

The Mentoring & Inspiring Women in Radio (MIW) Group announced details for the 2013 Mildred Carter Mentoring Program. This is the 12th year of the program, which matches up-and-coming women in radio with female professionals who are leaders in all aspects of radio. Three candidates from radio will be selected for the program. For instructions on how to apply, visit www.RadioMIW.com. Your deadline to submit is December 21.

The program is named in memory of Mildred Carter, who, along with her husband, Andrew "Skip" Carter, founded the first African American-owned radio station in the U.S. in 1950, when they turned on KPRS Kansas City, Missouri. Mrs. Carter ran the Carter Broadcast Group for many years after the death of Skip Carter, before turning over control of the company to her grandson, Michael Carter in 1987.

http://www.RadioMIW.com



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Monday, July 9, 2012

Mossberg Details How to Avoid Being Tracked

7-9-2012

While checking out Walter Mossberg's website "www.allthingsd.com" last night, we noticed something new posted to the top of his site that has been gaining a lot of chatter online. And, it may not make every advertiser who uses the web very happy. Mossberg gave very specific details about tracking cookies that are placed on your computer when you visit sites, including his. And, he explains what you can do to avoid them. Cookies are used to determine how you behave online which, in turn, advertisers use to target ads. Here's Mossberg's entire post.

A note about tracking cookies
Some of the advertisers and Web analytics firms used on this site may place ?tracking cookies? on your computer. We are telling you about them right upfront, and we want you to know how to get rid of these tracking cookies if you like. Read more ?

Tracking cookies are small text files that can tell such companies what you are doing online, even though they usually don?t record your name or other personably identifiable information. These cookies are used by these companies to try and match ads to a user?s interests. They are used all over the Web, but in most cases, their presence is only disclosed deep inside privacy policies.

We want you to know how to get rid of these tracking cookies if you like. Here are links to pages where you can manage the cookies set by some of the third parties that help us deliver online advertising:

The Wall Street Journal Digital Network Registry, powered by BlueKai
http://www.google.com/privacy/ads/
http://www.omniture.com/privacy/2o7

If you would like more information about this practice or to opt out of having this information used by third-party ad servers that are part of the Network Advertising Initiative to provide targeted ads, please visit: http://www.networkadvertising.org/managing/opt_out.asp.

We?d prefer a totally opt-in system, but, as far as we know, the ad industry doesn?t have a practical one as of now.

If you want to clean out all tracking cookies from all your Web sites, here are links where you can download three programs that can clean out tracking cookies:

http://www.lavasoftusa.com/products/ad-aware_se_personal.php
http://www.spybot.info/en/download/index.html
http://www.webroot.com/consumer/products/spysweeper/

You can also change the preferences or settings in your Web browser to control cookies. In some cases, you can choose to accept cookies from the primary site, but block them from third parties. In others, you can block cookies from specific advertisers, or clear out all cookies.

Not all cookies are tracking cookies. Like most other Web sites, ours may place cookies on your computer, in addition to any placed by advertisers. But ours aren?t ?tracking cookies.? They merely do things like save your registration information, if you choose to register. They do not tell us what you do or where you go online.

This policy will always be available at:
allthingsd.com/trackingcookies

This notice is intended to appear only the first time you visit the site on any computer.

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Thursday, May 17, 2012

RMLC and BMI Sign Deal. Give No Details

5-15-2012

The new deal with BMI was posted to the Radio Music License Committee website yesterday. An agreement in a new industry wide license has been announced, settling a multi-year litigation between the parties. The agreement covers the performance of more than 7.5 million musical works in the BMI repertoire from 2010 through 2016 but no details were disclosed.

If approved by the court, the agreement will end a Federal Rate Court litigation over the fees that radio stations pay BMI on behalf of the songwriters and music publishers it represents for the public performance of their works by radio stations. The proposed deal covers January 2010 through December 2016. Details of the agreement have not been released pending review by the Court.

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Saturday, December 10, 2011

New Study Details Retention During Stopsets

12-7-2011

Be listening for the radio industry to start shouting the number 93 from the rooftops in the upcoming weeks and months. Here's why. A study released yesterday has concluded that an average of 93% of your listeners will still be with you from the time your stopsets begin until the time they end. In the age of DVR, iPods, Pandora and all the other technologies and products that put the consumer in charge of music content, radio has been trying to decipher where it fits in. There has always been this in-house battle between Program Directors who believe we need to keep the stopsets short, and sales (and GM's) who will try to squeeze every dollar they can into every stopset of every hour.

Coleman Insights President and Chief Operating Officer Warren Kurtzman says ?The incredible ability of radio stations to deliver audiences during commercial breaks suggests that programmers should not obsess over their stations? spot placement strategies. There is no doubt that running excessive commercial inventory can undermine a station?s brand and hurt its long-term performance, but we see very little evidence that commercials cause nearly as much audience tune-out in the short term as many radio industry professionals believe.?

The popularity of playlist curation has created a perception that consumers want less commercial clutter and talk and more music. Radio has responded by saying listenership is not down, that playlist creation cannot save you during a tornado and the new technology is simply giving consumers more ways to tune in, not tune out. A study released yesterday attempts to shed some light on whether or not consumers will sit through commercials and wait for the return of the content.

The study, done by Arbitron, Media Monitors and Coleman Insights, analyzed 18 million commercial breaks, 62 million minutes of commercials and 866 stations for a year of audience data from all 48 PPM markets. The key point of the study focuses on comparing the audience level for each minute of a commercial break to the audience for the minute before the commercials began. The study did not ask listeners if stopsets were too long, if radio stations should reduce the amount of clutter or if listeners were leaving radio for other music-only technology. It focused on the percentage of listeners who were still with a station from the start of a break to the end.

The study is called What Happens When the Spots Come On and the authors concluded "that radio maintains its audience delivery during commercial breaks, contrary to the common misperception among advertisers, agencies and even radio executives that audiences during commercial breaks are a fraction of the numbers that were listening to the station just before the commercials began."

In what may be the most helpful stat, the study says one to three-minute commercial breaks keep listeners engaged the longest. Listeners who were onboard before the stopset began will be with you when you come out of a break. While they may not be the exact same people, the study says nearly 100% stay if the break is one minute, two-minute breaks deliver 99 percent of the audience and three-minute breaks deliver 96 percent. You might conclude that shorter stopsets are better. The question is how many radio stations actually still running 1-3 minute stopsets and how concerned should you be if you play 6 or more minutes per break.

The longer the breaks, the more tune-out you get according to the study. For longer breaks of four to six minutes-plus, the study says 90 percent of the lead-in audience stays. Four-minute breaks delivered 92 percent of the lead-in audience; five-minute breaks delivered 87 percent. Breaks of six minutes or longer delivered an average minute audience that was 85 percent of the audience level before the commercials began. The study says commercial breaks in morning drive deliver 97 percent of their lead-in audience, on average.

Arbitron and Coleman also conducted a web poll about the perception of commercial loads and the results were included in the study. People identifying themselves as members of the advertiser/agency industry (362 responses) said that, on average, the size of the audience during a radio commercial break is only 68 percent of the size of the audience before the commercial began. On average, respondents identifying themselves as members of the radio industry (1,178 responses) believe radio holds only 78 percent of the audience during commercials.

(12/8/2011 7:48:00 PM)
Ed, it appears as if you've updated the story. When it was first posted, I believe you said that 93% of the listeners there at the beginning of the break were there at the end of the break. I was there when the study was presented in Baltimore yesterday and the presenters made it very clear that this was not what their study was claiming.

For the record, I'm an APD/MD for two stations in Virginia.

(12/8/2011 4:55:51 PM)
Dan:

Why don't you be a little more specific about what is wrong about the story I wrote. And, please do tell us all what you do and where you work as well.

Thanks
Ed

(12/8/2011 3:01:42 PM)
The only listeners not tuning away from stop sets are those who are uable to do so at the time the set is running. And those who are unable are just getting annoyed if the stop set is long AND the spots annoying (as so many are....more tolerance for clever, well-produced spots, but those are more and more few and far between..).
Any programmer who thinks the length and "quality" of the stop sets don't matter would do so at their peril.
(12/8/2011 1:02:54 PM)
I don't listen to radio stations with long stopsets. I'm not there at the end because I'm not there at the beginning.
(12/8/2011 12:43:52 PM)
Read the report instead of this article, which misstates many of the study's conclusions. You can get it from arbitron.com, colemaninsights.com or mediamonitors.com.

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Sunday, September 11, 2011

(AUDIO) iHeartRadio Details Coming Together

In a little over two weeks the highly anticipated upgraded iHeartRadio will be released by Clear Channel at a two-day music festival in Las Vegas. The three year old product will be Clear Channel's answer to the wildly popular Pandora which now boasts over 100 million users. A key feature of the new iHeartRadio will be playlist creation. Yesterday it was announced a company called The Echo Nest is providing the technology to power the Clear Channel feature. The Echo Nest has developed an automated "intelligence platform" where computers can listen to a song in three seconds and read approximately 15,000 blogs about music every day. All of that information - 5 billion data points - on over 30 million songs is categorized to help users create customized playlists.

The Echo Nest CEO Jim Lucchese (pictured) told Radio Ink yesterday (LISTEN HERE) his company processed 30 million sings in the last year, compared to Pandora which has categorized 800,000 songs over the past decade. Pandora employs people to do the music research, not computers. The Echo Nest provides similar technology to MTV, The BBC, MOG and Rhapsody. Lucchese was introduced to the Clear Channel management team through a mutual friend, an investor, and he's been working with Clear Channel for months to incorporate the technology into the iHeartradio app.

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Tuesday, August 30, 2011

Greater Media Boston On Top of Kenny Chesney Details

Kenny Chesney is taking no chances when it comes to Hurricane Irene. And, in light of the recent stage accidents it's better to be safe than sorry, even though fans on his Facebook fans are not real happy. Legendary Greater Media Country station 102.5 WKLB-FM recently served as the exclusive radio source in Boston for getting the word out about this weekend?s Kenny Chesney concert, originally scheduled for Sunday at Gillette Stadium in Foxboro, MA. The concert has been moved to tomorrow night in preparation for the anticipated arrival of Hurricane Irene. Fans are complaining the show should have been moved forward so they could prepare, not back.

 "The instant the decision was made to change the show date, Country 102.5 made announcements every 15 minutes to inform our listeners," said Station Program Director Mike Brophey. "As New England's most listened to country station, we were in the best position to touch the greatest number of fans as quickly as possible."



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Wednesday, July 6, 2011

More Details on The Slacker AOL Radio Deal.

June 30, 2011

When Slacker starts powering AOL Radio in September the company expects to see its listeners double thanks to what AOL brings to the table in terms of listeners. And as everyone knows by now more listeners in the online radio game means more money paid to play that music. In the AOL/Slacker deal that's a cost being picked up entirely by Slacker. That was another one of the reasons, we are told, AOL went with Slacker. For others in the discussion, it was a hard pill to swallow if you have to pay the music fees and not get to keep 100% of the revenue. But Slacker's Jim Cady is convinced his model will work, picking up those fees, and he took the deal with AOL.

The head of AOL Radio Lisa Namerow wouldn't talk about the specifics of the deal, "We don?t really disclose what the business terms are. That?s kind of nitty gritty and we don?t disclose the nitty gritty?s." SVP of marketing at Slacker Jonathan Sasse says Slacker will be footing the entire bill. "The expense and the monetization are our responsibility? with Slacker ? each new and returning listener is a net positive and given the infrastructure ? this should continue to scale with AOL."

Namerow has a tough job at AOL Radio. While slightly wounded, AOL is still a huge brand name, yet you don't often hear AOL Radio mentioned as much as the other online radio players like iHeartradio, Pandora, Lastfm or Slacker. It's Namerow's job to get the word out about AOL Radio, which has been around now for a decade and has gone through several name changes (do you remember Spinner radio?). "I do think AOL Radio is a very important part of the overall AOL Music strategy.  I think when you have a company with a lot of different brands, it's like having a lot of children. It's about balancing the brands and giving everybody as much attention and enough marketing to create awareness.  There is only so much to spread around, whereas someone like a Pandora, or a Clear Channel , that?s their core business. That?s what they do 24/7.  Everyone who works there, they work on radio.  We are lucky to be associated with a lot of strong brands at AOL.  We all kind of have to share the spotlight."

Namerow says AOL Radio has about 3 to 4 million listeners per month, depending on the month. "It?s very cyclical. You'll  see December is our biggest month and then it falls off a little bit during the summer time.  We  haven?t moved to Slacker yet, but that?s really what the audience rate is, anywhere between 3 to 4 million depending on the month."

As AOL switches over to Slacker from CBS it's touting fewer commercials, which even the online world is learning turns off listeners. Namerow says she was getting a lot of complaints about the amount of commercials being played. She and her staff go through and respond to every e-mail from listeners. "I think, what we like to call the ?secret sauce? in radio, is the emphasis that we have on our listeners.  We are listening to what they have to say, specifically the feedback that they send us.  We get feedback everyday.  Myself, along with my team, we actually read the feedback every single day so we can respond to the comments and questions they have.   We do that in real time.  Usually we do that within 24 hours.  One of the things that they have noticed as time has progressed is the increase of ads.  They told us they don?t like ads.  But have you ever heard a listener say they like ads?  You have to do what you have to do to pay bills.  That?s what we told them.  We said to them, ?We are sorry that you are unhappy, but we have to pay the bills.  Every time we play a song, we pay for that song.?   We were just very transparent and open with them, as we have always been.  Have we gotten complaints?  Yes, but I think you could ask that question to any radio operator who plays commercials and they will get complaints about commercials." 

Namerow describes the three tiers to be offered to listeners when the change is made from CBS to Slacker. "The first tier is the basic free tier, which allows you to skip a certain amount of songs per hour. It also allows you to create personalized radio stations.  You can set pre-sets.  Very much what we have today plus the personalized radio.  You have the second tier, which is a paid tier ($3.99 per month), which is Radio Plus, which is basically, ad-free radio.  You get all of those features you get from the free product but it's ad-free. You get unlimited skips, you get complete song lyrics.  Then you move to the third tier, which is Premium Radio ($9.99 per month). Premium Radio is everything you get with Radio Plus, but you also have an on-demand feature, which is super cool.  It allows you to play an artist, songs, or albums on demand.  Let?s say you are listening to a radio station and you were listening to the new Britney album, or any Britney song that?s on a top pop station, you could actually click on either the album name and listen to the entire album, or you could click on Britney and see the full catalog of Britney and you could listen to all of her tracks.  That?s what we call the On Demand feature in the Premium Radio, the third tier.  Also, in that third tier, you can create custom play lists.  It is pretty comprehensive in terms of interactivity.  It is something we are excited to be able to offer our listeners, the next level of a radio/music experience. 

Visit www.aolradio.com  

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