Urban One may have had an explosive day on Wall Street, but other broadcast media companies also found themselves seeing strong gains on Thursday.
Among them: Salem Media Group, and The Walt Disney Company.
Here’s a glance at today’s activity on Wall Street.
For a live look across each trading session, please visit the homepage of RBR.com.
He’s a New Hampshire native and rose through the ranks at Hearst Television, where he was News Director of its flagship property in Boston. For the past five years, he has been VP of News.
Now, this pro has been selected to succeed the retiring Jeff Bartlett in his home state.
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WASHINGTON, D.C. — A group of Republican Members of the House of Representatives on Thursday (5/20) introduced legislation that they believe help closes the digital divide in the U.S.
How so? The plan, led by the House Energy and Commerce Committee’s top Republican, is designed to ensure broadband infrastructure “reaches all Americans and is not used to fund duplicative and wasteful overbuilding.”
Democrats immediately responded by pointing to support for their own bill.
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Colin Benedict, the Vice President of News for radio and TV station owner Morgan Murphy Media, played an integral role in the planning and execution of an effort across all of the multimedia company’s markets to encourage COVID-19 vaccinations.
How did the initial idea for a “Vaccine Day” effort originate, and then pollinate? What does this effort say about the role that local TV stations, in particular, play in their respective markets?
Learn more in this InFOCUS Podcast, presented by dot.FM, with host Adam R Jacobson, who candidly shares his own qualms about getting vaccinated.
Listen to “The InFOCUS Podcast: Colin Benedict, Morgan Murphy Media” on Spreaker.
For 18 years and change, she’s been the head of sales for Fox Television Stations’ owned-and-operated station serving the Minneapolis-St. Paul market, adding SVP/Market Manager duties in December 2014.
Now, this 35-year TV industry veteran is heading to the Pacific Northwest’s largest market to head up Fox’s O&O.
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WASHINGTON, D.C. — She’s been at the FCC since 1997, and in her time at the Commission oversaw two-thirds of the Commission’s auctions. She served under nine FCC Chairs.
Now, she’s set to retire, and an Acting Deputy Chief in the Office of Economics and Analytics has been named to succeed her.
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MIAMI —NBCUniversal Telemundo Enterprises’ Telemundo Global Studios has promoted the person in charge of Production Operations and Production Design at Argentina-based Underground Producciónes to the role of SVP/GM for the recently launched Telemundo Streaming Studios operation.
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In the northern half of California’s San Joaquin Valley, pastor Juan Montes has established a Spanish-language broadcast ministry that uses a Class A FM station licensed to Chowchilla, and an FM translator in Hughson, to reach the Modesto and Merced markets, respectively.
Now, Montes’ operation is adding two additional FMs in the region.
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Section 230 of the Communications Decency Act was, in the view of the American Enterprise Institute (AEI), designed to promote a competitive online ecosystem that maximizes user control while guarding against illegal activities.
“The law is credited with empowering unprecedented innovation, but it is also blamed for allowing Big Tech to suppress speech and avoid liability for seemingly unchecked misinformation,” the Trump-era FCC influencer notes today.
This sets the stage for a panel discussion hosted by AEI visiting scholar Mark Jamison on proposals to reform Section 230 — and on whether the law has fulfilled its original promise.
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In a potential boost to African American-centric media company Urban One and the nation’s Hispanic and Asian-targeted radio and TV communities, McDonald’s is moving forward with what it calls “bold new investments to further reflect its diverse customers, crew members and communities in its marketing.”
It’s a four-year effort, and women-owned and LGBTQ+ platforms are also poised to benefit.
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With the merger of Tribune Broadcasting and Nexstar Media Group, ownership of one of the nation’s largest affiliates of The CW Network — KTLA-5 in Los Angeles — came to be.
Now, Nexstar and the network have inked a new deal ensuring that KTLA, and every other affiliate of The CW, keeps the relationship in place for the next several years.
Multi-year agreements have been signed that see the renewal of The CW affiliations in 37 markets. The accord includes not only 28 Nexstar-owned stations but also nine owned by companies Nexstar enjoys a shared services agreement with.
Among the latter group: WPIX-11 in New York.
Other key Nexstar affiliates of The CW Network include WDCW-50 in Washington, D.C., seen as an in-flight offering on Southwest Airlines; KDAF-TV in Dallas; and KIAH-TV in Houston.
The 37 DMAs where Nexstar owns affiliates of The CW represents 31% of the U.S. audience.
Tom Carter, Nexstar Media Group“As the nation’s largest CW affiliate group, Nexstar is very pleased to extend its longstanding relationship with the network,” said Nexstar COO/CFO Tom Carter. “The CW’s line-up of prime-time entertainment shows, coupled with Nexstar’s highly-rated local news and other market-centric programming
enables us to deliver great content to millions of viewers and exceptional value to our advertisers.”
Betty Ellen Berlamino, The CW’s EVP of Distribution, added, “We are pleased to extend our valued partnership, through a multi-year agreement, with our largest station group, Nexstar. The linear broadcast model remains the backbone of our business model and vitally important as it gives us the scale and local reach that distinguishes us in today’s marketplace as the original multiplatform network.”
LOS ANGELES — Ten free ad-supported streaming television, or “FAST,” channels have been added to the Local Now platform recently unveiled by the Byron Allen-controlled Allen Media Group.
The FAST offerings come courtesy of a new agreement with The E.W. Scripps Co.
It sees the expansion of local news by adding to the Local Now streaming platform the following Scripps O&Os:
The partnership is not inclusive of all non-Ion properties owned by Scripps. For instance, WKBW-7 in Buffalo is not included in the Local Now arrangement.
Local Now SVP/GM Michael Senzon noted, “Scripps’ focus on growing audiences and revenue in the free streaming space is smart and we’re happy to be in business with them.”
As Scripps Local Media President Brian Lawlor sees it, “Scripps is committed to serving its audiences with the essential news and information they need, whenever and wherever they consume it. With more consumers turning to streaming platforms to access the local content that helps inform their day-to-day lives, we’re looking forward to expanding our commitment to them by adding Scripps local TV stations to Local Now’s growing roster of news and entertainment.”
On Friday (5/14), the Board of Directors of Audacy approved a restatement of three specific company plans and/or policies.
An SEC filing made following Wednesday’s Closing Bell on Wall Street explains what transpired.
Amendments to the three documents were needed in order to formally recognize the change of the company’s name from Entercom Communications Corp. to Audacy, Inc..
These documents are the Audacy Nonemployee Director Compensation Policy; the Audacy Equity Compensation Plan; the Audacy Employee Stock Purchase Plan; and the Audacy Acquisition Equity Compensation Plan (formerly the QLGG 2017 Stock Incentive Plan).
The amendments coincide with the 2021 annual Audacy shareholders meeting, which saw the ratification of the selection of Grant Thornton LLP as the company’s independent registered public accounting firm for the 2021 calendar year.
The meeting also saw the election of David Levy as a Class A Director, in Board Class I, for a three-year term; Weezie Kramer and Susan Neely were each elected as a Director, in Board Class I, for a three year-term.
That’s not the only news Audacy shared with the SEC.
On Wednesday (5/19), it filed Articles of Amendment with Pennsylvania’s Secretary of State to amend and restate Audacy’s Articles of Incorporation. They consolidate all prior amendments, and in particular removes references to multiple series of preferred stock which are no longer outstanding: Series A Cumulative Convertible Preferred Stock; Series A Junior Participating Convertible Preferred Stock; and Series B Junior Participating Convertible Preferred Stock.
It’s always nice when a broadcast media company enjoys a big day on Wall Street as general indices decline.
On Wednesday, Urban One — the company founded as Radio One by Cathy Hughes and today led by her son, Alfred Liggins III — saw double-digit growth.
A late buying surge fueled UONE.
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The team at Fletcher Heald & Hildreth has put together an update on the important broadcast media FCC regulatory deadlines operators will need to take note of in the next several weeks.
Here’s a look at what should go on the calendar today.
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Two months ago, the News Director for TEGNA-owned KING-5 in Seattle-Tacoma was announced as the new ND for Nexstar Media Group‘s KTLA-5 in Los Angeles.
Now, the company formerly known as Gannett has selected his successor.
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TEGNA has transferred the Asst. News Director for its NBC affiliate in Charlotte to Connecticut, where he will take the News Director role for the company’s FOX and The CW Network affiliates serving New Haven, Hartford, and most of the state.
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NBCUniversal, MAGNA, and Identity have teamed together for a new research study released today that explores ‘the full spectrum of diversity, and the role that brands play in acknowledging and amplifying cultural identification.’
The study, Deconstructing Diversity Today, “flips the script on outdated cultural archetypes, and reveals the multifaceted and fluid nature of how people identify today.”
It also outlines what the three entities call “tangible next steps that marketers can take to connect with multicultural audiences in authentic, culturally relevant ways.”
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The number of new unique creative on radio increased by 44.6% in April, with 20,933 more instances than in April 2020.
That’s the positive news for AM and FM radio station owners seeking to bring their ad revenue out of the pandemic-driven doldrums, courtesy of iHeartMedia-owned Media Monitors.
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If securing Nick Cannon for two sessions wasn’t a sure bet the 2021 NAB Show would be staged as a live event in Las Vegas — the first major industry gathering since NATPE Miami 2020 due to COVID-19 — this is.
Registration is open for the “premier convention for broadcasters and the broader media, entertainment and technology industries,” scheduled for October 9–13 in Las Vegas.
Co-located events The Radio Show and NAB’s Sales and Management Television Exchange (SMTE) have also launched registration.
SMTE is focused on revenue-generating strategies for small and medium market television stations and commences one day prior to the start of NAB Show. The Radio Show, October 13–14, is again co-produced by the Radio Advertising Bureau.
All NAB Show and co-located event registrants receive access to the NAB Show floor, open October 10–13, as well as all-access NAB Show Main Stage sessions and special events.
NAB pre-show gatherings are expected for Sunday evening; however there will be no full schedule of events, as envisioned for the cancelled 2020 affair.
“We look forward to delivering the first live, major domestic industry event following a long hiatus for all events,” said Chris Brown, the NAB’s EVP/Managing Director of Global Connections and Events. “[The] NAB Show represents a significant annual business catalyst for the media industry, which is eager to get back to doing business face-to-face, according to recent trade show attendee research. With momentum building toward the show in October, we continue to prioritize health and safety with a sound plan in place to deliver a safe experience for our community.”
NAB Show, Radio Show, SMTE and associated event registration packages are available here.
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