9-26-13
SiriusXM announced Wednesday that, on October 25, 2013 it will redeem all of its outstanding 7.625 percent senior notes due 2018. As of September 25, $539.5 million of the 7.625 percent notes remains outstanding. SiriusXM intends to use the proceeds from the issuance of $650 million aggregate principal amount of its 5.875 percent senior notes due 2020 to fund the redemption.
7-25-2012
SiriusXM announced Thursday that on September 1st it will redeem all of its outstanding 9.75% Senior Secured Notes due in 2015. CFO David Frear said, "Our strong cash position and growing free cash flow profile have put us in a position to retire these notes three years ahead of their maturity, at the first available redemption date. The early retirement of these notes will reduce interest expense and eliminate the only remaining piece of secured debt on our balance sheet."
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1-5-2012
After 28 years Cox's Chief Revenue Officer Marc Morgan says he will retire on April 30th. "Marc has contributed immensely to Cox's success over the years through his leadership in radio and now with CMG,? said Doug Franklin, CMG president. ?We will miss his insights, experience and wish him well as he retires. Additionally, Marc has indicated that he intends to take on some consulting projects including working with CMG.?
For the past two years as chief revenue officer, Morgan has overseen the company?s focus on sales opportunities for its clients and sales training opportunities for all CMG businesses. Prior to his current position, Marc served as executive vice president and chief operating officer and as a director of Cox Radio, Inc.
?After a very rewarding 28-year career with Cox, it?s time for me to throttle back and focus exclusively on the things I?m most passionate about, which is helping people do better in their lives and careers.? Morgan added. ?CMG is an innovative industry leader with the best radio, television, newspapers, and direct marketing professionals in America. I know it will continue to shape the media industry, and I look forward to supporting their endeavors.?
Morgan joined Cox in 1984 as vice president and general manager of WCKG-FM in Chicago, Ill. where he worked until 1992 when he was named vice president and general manager of WSB Radio in Atlanta, Ga. until 1998. From 1996 to 1997 he served as senior vice president of Cox Radio, Inc. and from 1997 to 1999 as senior group vice president. In 1999 he was named vice president and co-chief operating officer of Cox Radio, Inc. and in 2003 was named executive vice president and chief operating officer until 2009, when he began serving in his current role.
He currently serves on the Executive Committee of the National Association of Broadcasters Radio Board of Directors. Before joining Cox he held various sales and sales management positions with ABC Radio in both Chicago and New York.
(1/6/2012 10:15:21 AM)
Good Luck Marc.
Enjoy some quality time away from the "biz". JOB WELL DONE!!
For the last 3 years, Steven Brill was the General Operations Manager for Citadel in Des Moines Iowa where he says he loved working for Judy Ellis and Market Manager, Terry Peters. "I was allowed to truly program for our market. This was the best gig to go out on." Three decades after starting his radio career Brill called it quits last week. his last day will be July 8th. We caught up with him to get his take on 30 years in the business, why he left and what his next gig is all about.
In his long career, Brill has programmed KSD in St. Louis and the Rams Radio network, WKLH in Milwaukee for SAGA, KFRX in Denver for Clear Channel, KEZO in Omaha for Journal and WAQX in Syracuse. He was also the OM for Cumulus in Rockford, a jock for NBC in Chicago at Q101 and a Morning Personality at Lite 95 in Cincinatti.
Why did you decide to retire?
I decided to leave day to day radio now, because I came up with an idea that I think can actually be a win for everyone involved. Back in college, I worked part-time for a concert promoter in the Chicago area. I enjoyed the job, but didn't give thought to it much after I launched my radio career. The past several years though, I have been producing multiple outdoor concerts for Citadel ie, Big Country Bash & Summer Jam. These are shows that have drawn 20,000 plus listeners each year. Taking on these productions from the ground up taught me a lot about concerts.
What is your opinion on how radio has evolved since consolidation?
When we, as an industry ask what will it take to keep terrestrial radio a vibrant business well into the future, fending out satellite and Internet radio, Pandora and their competitors, MP3 players, games on our cell phones, time spent texting, social media and all the other technological distractions vying for our listeners' time, the answer is always the same, LOCAL CONTEN. They are right, I just hope we start to slowly turn the ship and invest in people again to deliver that needed local content.
Generally, is radio in a good place?
My grandfather always to told me to not to be penny-wise and pound foolish. The same goes for radio at this stage of the game. We have consolidated away much of the fat and found many cost saving synergies, but now I believe it is time to spend wisely on our important assets: creativity, keeping and developing local stars, nurturing programming strategists and giving top priority to stay ahead of the technology curve #radio on cell phone, utilizing social media, interactive radio, etc. I think the future can look bright if we invest in the important things and realize that no one ever saved themselves to prosperity.
Tell us about the new company?
After finishing last year's KGGO Summer Jam & KJJY/KHKI Big Country Bash and generating several hundreds of thousands of dollars in revenue for our stations, the idea came to me. I will bring a full blown concert to other stations, generating six figures in revenue at NO COST to the station. All while giving them a show that they can brand as their own (KJJY Big Country Bash, the KXXX Kicks Country Jam or WXXX Big Birthday Bash) and touch their audience. So now I'm talking to intersted stations that want to make money and set up shows for next year. Anyone interested can call me at 815-621-1515 or e-mail me at steve@concerttoursforradio.com.
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