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Audacy has launched a podcast studio that’s intended to be the home of its sports digital audio content.

It is called 2400Sports. “The new studio launches on the heels of Audacy becoming the official audio and podcast partner of Major League Baseball,” the company said in the announcement.

“As part of that partnership, Audacy and Major League Baseball will collaborate on the production and distribution of official podcast programming for the league and its clubs.” That includes a new series coming this fall about past playoff highlights, as well as projects with the individual ballclubs.

Audacy also announced an agreement with podcast producer Jody Avirgan’s Roulette Productions to develop and create shows. Avirgan is former executive producer and host of ESPN’s “30 for 30” podcasts.

2400Sports joins Cadence13 and Pineapple Street Studio along with podcast marketplace Podcorn as elements of the company’s podcast stable.

The post Audacy Launches Sports Podcast Studio appeared first on Radio World.

The regional Mexican radio specialist headquartered in Ventura County, Calif., has secured an FM translator for an AM station it owns in the San Francisco Bay Area.

There’s just one catch, and it involves Audacy.

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With a deadline fast-approaching to build low-power TV stations or lose the license altogether, several companies have opted to sell the properties rather than rush to construct them.

Among the willing buyers is Jeff Winemiller.

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Add Cumulus Media to the list of audio content and distribution companies with radio at its roots that has all but recovered from the economic Slip-and-Slide brought forth by the COVID-19 pandemic.

The Atlanta-based company on Thursday (6/24) submitted what’s called an “irrevocable paydown notice” to the administrative agent of its Term Loan to officially make a required paydown of $23 million.

The good news? This represents the remainder of the initial amount of the Cumulus’ Tender Offer that was not validly tendered prior to the expiration date.

For the groups that lent Cumulus the money, holders of the Term Loan are expected to receive their pro rata portion from the paydown on Monday.

With the payment, Cumulus completed its previously announced actions to pay down $175 million of debt — using cash on hand to do so.

Cumulus’ debt reduction actions began on May 17. That’s when the company completed a $60 million repayment of its ABL Revolver due 2025, which represented the entirety of the amount outstanding under the facility. Following the paydown, the ABL Revolver due 2025 is undrawn and available as liquidity for general corporate purposes.

Then, on May 25, Cumulus paid down approximately $89 million of its Term Loan Credit Facility due 2026 related to a mandatory prepayment obligation arising from the company’s sale of the former WMAL-AM tower site. The property, located in Bethesda, Md., was sold in June 2020 after years of wrangling with local leaders over the future use of the land for new home construction. Cumulus also completed a sale of towers and related assets in September 2020.

Pursuant to the terms of its 6.75% Senior Secured First Lien Notes due 2026, Cumulus one day later launched a tender offer to repurchase approximately $26 million of the Notes at par. This, Cumulus says, represents the pro rata amount required to be offered from the proceeds of the tower sale.

As of the expiration of the Tender Offer, approximately $3 million of Notes were validly tendered, accepted for payment and subsequently cancelled.

Giving effect to the impact of the Tender Offer, approximately $450 million principal amount of notes remains outstanding.

“As the improvement in economic and public health conditions continues to drive momentum in business trends, we felt it appropriate to accelerate several debt repayments in order to expedite our balance sheet de-levering, reduce interest expense, and increase our free cash flow generation,” said Frank López-Balboa, the EVP/CFO at Cumulus.

He believes this “better leverage and free cash flow profile,” along with more than $200 million of available liquidity “and solid rebound trajectory” are “significantly enhancing our financial flexibility.”

The liquidity represents $294 million of unrestricted cash on hand as of March 31, less $175 million used to paydown debt — plus $83 million of availability under the ABL Revolver due 2025.

With the news from Cumulus, its shares continued to rise, reaching levels last seen in January 2020. As of 2:18pm Eastern, CMLS was trading at $13.68, up 2.5% from Thursday.

On Aug. 3, 2020, a $3.94 closing price was seen for Cumulus.

That’s an incredible 247% gain in just 11 months.

WASHINGTON, D.C. — The FCC, U.S. Department of Agriculture (USDA) and the National Telecommunications and Information Administration (NTIA) have forged an interagency agreement to share information about and coordinate the distribution of federal broadband deployment funds.

In accordance with the Broadband Interagency Coordination Act, enacted as part of the Consolidated Appropriations Act of 2021, the respective Cabinet and agency leaders announced that their agencies will consult with one another and share information about the distribution of new funds from the FCC’s high-cost programs that support broadband buildout in rural areas, the USDA’s Rural Utilities Services grant and loan programs, and programs administered or coordinated by NTIA.

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Two years and five months after Tom Dobrez agreed to sell a Class C2 FM in Avon, Colo., and a Class C1 FM in Vail, Colo., the operator of CoolRadioStreaming.com in February 2020 moved forward with the sale of his remaining facility.

Then came the COVID-19 pandemic. That deal never closed. Now, Dobrez has a new buyer lined up for Cool Radio LLC‘s last FM.

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Six over-the-air television stations serving the Baltimore market have initiated broadcasts using the ATSC 3.0-powered new digital broadcast standard.

The stations involved are owned by The E.W. Scripps Co., Hearst Television, Sinclair Broadcast Group, Cunningham Broadcasting and Maryland Public Television.

On Thursday, Scripps’ ABC affiliated WMAR-2 entered the NEXTGEN TV era, as did Hearst-owned NBC affiliate WBAL-11 and Sinclair’s flagship property, “FOX45” WBFF. 

Also getting NEXTGEN TV — Sinclair-run and Cunningham-owned WNUV-54 and MPT stations WMPT-TV and WMPB-TV.

Noticeably absent from the NEXTGEN TV arrival in Baltimore: WJZ-13, the CBS O&O serving the market.

The launch in Baltimore follows a decade of development of the new technology and months of planning and preparation by the local stations.

BitPath, which is developing new data broadcasting services, led the planning process and coordinated efforts across the six television stations.

WBFF and WNUV will be charter members of the BitPath data broadcast network, launching later this year.

Weigel Broadcasting has gained national recognition for its ownership of the MeTV-branded digital multicast network and related Classic Hits radio programming, and for snagging The CW Network affiliation from WGN-9 for its over-the-air TV station in Chicago.

Now, Weigel, headed by Norman Shapiro, is expanding with a pair of unbuilt LPTV stations located in two key DMAs. It’s a steal of a deal.

Guess who’s the seller?

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RBR+TVBR OBSERVATION 

This column was originally intended to offer commentary on what “Classic Hits” are in 2021, and how one overseas radio network has refined an era of pop music from 2000-2015 as the next wave of Oldies.

But, a funny thing happened along the way: full newscasts, and a lively host, to be precise. It led our editor-in-chief to pen a column not about revenue ignition through format revision, but about what it means to truly be live and local in an era where information sources devoted to the small towns of America could be severely lacking.

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A committee that advises the Federal Communications Commission on diversity and “digital empowerment” in the media will have its mission broadened to cover the broader tech sector.

Acting Chairwoman Jessica Rosenworcel said the Advisory Committee for Diversity and Digital Empowerment will be renamed the Communications Equity and Diversity Council.

“This committee is charged with providing recommendations to ensure that underserved communities are not denied the wide range of opportunities made possible by next-generation networks. Jamila Bess Johnson will remain the Designated Federal Officer for the committee, which will run for two years.”

The committee was created in 2017 with the goal of providing advice and recommendations about how to help disadvantaged communities and accelerate the entry of small businesses, “including those owned by women and minorities into the media, digital news and information, and audio and video programming industries.”

Rosenworcel complimented its work and described its members as including “some of the most talented civic-minded people in the communications industry, helping to open doors of opportunity that too often have been closed to women and minorities.”

But she said she hopes for “meaningful progress on these issues” of diversity and equity across the tech sector.

The current committee chair is Anna M. Gomez, partner at Wiley Rein, representing the Hispanic National Bar Association. Among current members who will be familiar to radio readers are Raúl Alarcón of the Spanish Broadcasting System, Caroline Beasley of Beasley Media Group, Skip Dillard of Emmis Communications, Nimisha Shukla of NJ Broadcasting/South Asian Broadcasting and James L. Winston of the National Association of Black Owned Broadcasters.

 

The post Rosenworcel Widens Focus of Diversity Group appeared first on Radio World.

On April 14, 2021, the Media Bureau, Video Division (Bureau) issued a Notice of Proposed Rulemaking (NPRM) in response to a petition for rulemaking filed by Gray Television Licensee, LLC (Petitioner), requesting the allotment of channel 9 to Freeport, Illinois in the DTV Table of Allotments as the community's first local service. For the reasons set forth in the Report and Order referenced below, the Bureau amends FCC regulations to allot channel 9 at Freeport. The newly allotted channel will be authorized pursuant to the Commission's competitive bidding rules.

The Federal Communications Commission published a document in the Federal Register of June 16, 2021, concerning a petition for rulemaking filed by KHQA Licensee, LLC, licensee of KHQA-TV, channel 7, Hannibal, Missouri, requesting the substitution of UHF channel 22 for VHF channel 7 in the DTV Table of Allotments. The document contained the incorrect call sign of the licensee. The document also contained an incomplete email address of the contact person.

The Commission has before it a petition for rulemaking filed by Corridor Television, L.L.P. (Petitioner), the licensee of KCWX (MyNetwork), channel 5, Fredericksburg, Texas. The Petitioner requests the substitution of channel 8 for channel 5 at Fredericksburg in the DTV Table of Allotments.

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re: Applications Accepted for Filing

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