Radio+Television Business Report

JACKSONVILLE — The Market President for iHeartMedia’s Jacksonville, Fla., station group has just been elevated to a key corporate-level sales post at the audio media company.

It’s a role that will see her report to Multi-Market Partnerships President Julie Donohue, as this 20-year iHeart vet takes on the new role of SVP/Multicultural Sales for the Markets Group.

Taking the role: Nicky Sparrow.

With the promotion, Sparrow will lead multicultural ad sales revenue for the Markets Group division. “Sparrow will apply her deep knowledge of multicultural audiences and strong relationships with multicultural ad agencies and brands to build, drive, influence and execute strategic multicultural initiatives across the iHeartMedia sales organization,” iHeartMedia said.

Donohue commented, “Nicky continues to demonstrate strong leadership skills and with her expansive experience, expertise in sales and vision for creating an innovative, strategic focus on our multicultural audiences, I am fully confident she is the person to lead our multicultural sales efforts.”

Sparrow says she’s “thrilled for this next step in my career. I’ve been with iHeartMedia for more than 20 years, and I can’t wait to take my experience and strong relationships with partners and advertisers to further deliver and create innovative and effective multicultural opportunities for our consumers that will not only grow our portfolio of assets, but represent and truly connect with our diverse audiences.”

Sparrow began her career at iHeartMedia as a sales representative in 1999, in Tupelo, Ms. She later rose to General Sales Manager, and in 2005 moved to Tallahassee to become Director of Sales. In 2008, she was promoted to GSM of iHeart/Jacksonville. After shifting to Memphis in 2011 as DOS and, later, taking the SVP role for iHeart/New Orleans, she returned to Jacksonville in January 2016 to serve as Market President.

In November 1993, Gary Cocola — the Fresno-based digital multicast pioneer — acquired a low-power TV station in one of the fastest-growing markets in the U.S. West.

Now, Cocola is parting ways with the LPTV station, the Azteca América affiliate in this Mountain West locale.

The buyer? Lawrence Weissman and Ted Achilles own it.

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Fort Leonard Wood, Mo., is a major U.S. Armed Forces training site, nestled within the Ozarks of Mid-Missouri.

The closest city of size is St. Robert, and a Class C3 FM playing Adult Contemporary Country favorites is trading hands.

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The final three months of 2020 were robust for many publicly traded media companies. Political advertising, along with digital revenue growth, were key catalysts at the broadcast station owners experiencing growth in Q4.

Unfortunately, Saga Communications, the owner of radio stations in mid-sized and small markets across the U.S., can’t be included in the list of fourth-quarter media industry fiscal success stories.

With the COVID-19 pandemic’s wrath continuing to strangle Saga across its markets, net operating revenue was down to $28.75 million in Q4 2020, from $31.98 million a year ago.

The good news: Sequential quarterly revenue improvement is being seen, as the $28 million bests the Q3 2020 total by 19.1%, Saga says.

Saga didn’t mention that Q3 net revenue fell 22.8% year-over-year.

While operating revenue was down in Q4, so was the company’s station operating expenses, as belt-tightening reduced them to $21.12 million from $23.05 million.

Nevertheless, net income fell to $2.27 million ($0.38 per share), from $3.84 million ($0.64).

Yes, income tax expense impacts this, but even before that expense, net income was off, dipping to $4.95 million from $5.4 million.

Free Cash Flow declined to $5.13 million from $5.43 million in Q4.

 

Add Entravision Communications to the roster of media companies lighting it up in the final three months of 2020.

The owner of Hispanic-targeted radio and TV properties, which has a heavy digital presence, saw its revenue and net income surge on a year-over-year basis.

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On Jan. 25, 2021, Portland, Ore.-based Alpha Media took an important step toward reducing its $267 million debt burden by filing for Chapter 11 bankruptcy protection.

Now, it is getting all of its ducks in a row, if you will, for an emergence from debtor-in-possession status, one the company tells RBR+TVBR is still on track for completion by the end of June.

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A bill to repeal outdated regulations of the 1992 Cable Act has been reintroduced in the U.S. House of Representatives by two influential leaders in a bipartisan move that could potentially erase current retransmission consent legislation.

The bill would also rewrite the rules on the compulsory copyright license.

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RBR+TVBR EXCLUSIVE

On February 26, infamous Royce International Broadcasting owner Ed Stolz filed an appeal of his ongoing litigation over unpaid music royalty fees, which led a Federal District Court judge in California to place Stolz’s three FM stations in the hands of a receiver — respected veteran broker Larry Patrick.

It appeared the United States Court of Appeals for the Ninth Circuit would be hearing Stolz’s plea, with Dariush G. Adli’s role as Stolz’s attorney still in question.

RBR+TVBR has now learned that the higher court has dismissed Stolz’s appeal; the District Court Judge, Jesus Bernal, is beyond furious with Stolz; and new revelations that suggest Stolz committed perjury could very well put Stolz behind bars once again.

This time it could be longer for 24 hours.

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These days, the allure of a Class D daytime-only AM radio station is about as enticing as a pickle Popsicle. However, the interest level for one facilities that fits this description attracted one buyer with money to spend.

In Houston, an AM that must protect a Class A facility in Oklahoma City is just the right acquisition target for El Sembrador Ministries. 

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In the waning days of 2018, a newly formed entity whose principals include the man who served as SVP of Emmis Communications’ former St. Louis radio stations had just closed on its purchase of four stations serving Northern Arizona.

While Joe Schwartz, the chief executive of Cherry Creek until February 2016, was originally an investor in the operation, Stone Canyon Radio and Marketing, its been a two-person partnership with majority interest held by that St. Louis market veteran.

This will soon change. He’s shedding his interest in the stations — now that he’s settling in as the head of iHeartMedia‘s St. Louis stations.

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The National Association of Broadcasters (NAB) will present Howard University‘s commercially licensed Adult R&B station serving the Nation’s Capital with the Crystal Heritage Award as it salutes all of the finalists for the 34th annual Crystal Radio Awards.

The celebration, which this year will be a virtual affair, is scheduled for April 13.

The NAB Crystal Radio Awards date to 1987 and recognize radio stations for their year-round commitment to community service. The finalists will be celebrated and the winners announced during a special awards program available exclusively at NAB Amplify.

For WHUR-FM, the receipt of the Heritage Award comes in recognition of its receipt of five Crystal Radio Awards for exceptional year-round community service efforts. Only nine other stations have received this honor.

Finalists for the 2021 Crystal Radio Awards are:

KBFB-FM Dallas
KCLY-FM Clay Center, Kansas
KDKA-AM Pittsburgh
KIKV-FM Alexandria, Minnesota
KIRO-FM Seattle
KKBQ-FM Houston
KKFN-FM Denver
KKZY-FM Bemidji, Minnesota
KMVP-FM Phoenix
KNDE-FM College Station, Texas
KOSI-FM Denver
KPNT-FM St. Louis
KRSP-FM Salt Lake City
KSBJ-FM Humble, Texas
KSL-FM Salt Lake City
KSTP-FM St. Paul
KTAR-FM Phoenix
KTMY-FM St. Paul
KUPD-FM Phoenix
KYGO-FM Denver
KYW-AM Philadelphia
WARH-FM St. Louis
WBAB-FM Nassau-Suffolk
WBAP-AM Dallas
WBLI-FM Nassau-Suffolk
WBYT-FM Mishawaka, Indiana WCCO-AM Minneapolis
WDRV-FM Chicago
WDSY-FM Pittsburgh
WDUV-FM Tampa
WFXE-FM Columbus, Georgia
WGCI-FM Chicago
WHPT-FM Tampa
WJJY-FM Brainerd, Minnesota
WKTI-FM Milwaukee
WMCI-FM Mattoon, Illinois
WMMR-FM Philadelphia
WNRP-AM Pensacola, Florida
WOKV-FM Jacksonville
WPLR-FM New Haven
WSB-AM Atlanta
WSB-FM Atlanta
WSHE-FM Chicago
WTAW-AM College Station, Texas
WTMX-FM Chicago
WTOP-FM Washington, D.C.
WWPR-FM New York
WWRM-FM Tampa
WXGL-FM Tampa
WXOS-FM St. Louis
WYCT-FM Pensacola, Florida
WYKY-FM Somerset, Kentucky

 

Ten Crystal Radio Award winners will be chosen from the above finalists by a panel of judges representing the broadcast industry, community service organizations and public relations firms.

What is NAB Amplify? Designed by the creators of NAB Show, NAB Amplify is the new digital hub for the media and entertainment community. With curated content, trusted insights and new product launches, NAB Amplify is the year-round destination to connect and interact with the global NAB Show community. Learn more at www.nabamplify.com.

Entercom Communications, which this week expanded its holdings in the podcast space and amended its October 2016 credit agreement with JPMorgan Chase Bank, has announced that it plans to offer $500 million in aggregate principal amount of senior secured second-lien notes due in eight years.

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Entercom Media Corp., a subsidiary created by Philadelphia-based Entercom, is the issuer. And, it says it expects to use the net proceeds from this offering, due in 2029, to redeem all of its 7.25% senior notes due 2024 and to partially repay existing indebtedness under the company’s senior credit facilties.

Thus, it is a new debt for old debt swap, with the notes “fully and unconditionally guaranteed on a senior secured second-lien basis.”

The notes will be offered privately, Entercom says, to qualified institutional buyers.

Entercom shares have enjoyed strong growth over the last six months and open Thursday’s trading at $5.84.

It’s a far cry from March 9, 2020, when shares were at $2.35 just days before ETM was to see its last ex-dividend payment to shareholders. Entercom stock then slid to $0.83 as March 2020 came to a close, with much pandemic uncertainty crippling ad sales for broadcast media.

Much of Entercom’s stock growth, however, has come in Q1. On December 28, 2020, ETM was at $2.47, with little signs of a jump past $3.

As RBR+TVBR first reported on Wednesday (3/10), HyphaMetrics has just secured a U.S. patent for a cross-media measurement platform.

The co-founder and CEO of HyphaMetrics, Joanna Drews, chats with Editor-in-Chief Adam R Jacobson to share a bit more about the patent, consumer privacy, buying in the 2021-2022 Upfront and scatter markets, and where audio media fits in to HyphaMetrics’ business in this fresh podcast presented by Dot.FM.

Listen to “The InFOCUS Podcast: Joanna Drews, HyphaMetrics” on Spreaker.

A pair of Spanish-language television stations owned and operated by Hispanavisión Televisión will now have the benefit of local TV measurement services provided by the nation’s dominant ratings and audience consumption data provider.

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LOS ANGELES — The L.A. office of Davis Wright Tremaine has a new of counsel in its entertainment practice.

It’s someone with extensive in-house experience at NBC Entertainment, where she was most recently VP of Legal Affairs.

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WASHINGTON, D.C. — A coalition of bipartisan House of Representatives and Senators have reintroduced legislation allowing news publishers — including local radio and TV broadcasters — to collectively negotiate the terms on which their content may be distributed online.

It’s being billed as “a fight to save local news.” And, the NAB commends it.

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Andrew Curran, President/COO of DMR/Interactive, has penned an “open letter” to radio that takes aim at the industry’s unfulfilled opportunity to attract women between 18 and 49 years of age who are struggling to hold their families and careers together.

While there’s a need, and a call to action, what, specifically, could Radio do to achieve this goal?

Curran offers three thoughts exclusively to RBR+TVBR.

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MIAMI — It was a big gamble, one that Bill Siegel was called on to “evaluate and refine” in December 2019. A new English-language local newscast was in the works for South Florida — a 10pm newscast that would challenge Sunbeam Television’s long-dominant WSVN-7.

The E.W. Scripps Co. made the pledge in November 2019, with a spring 2020 launch date for a unique 30-minute newscast for Miami, Fort Lauderdale, and the Florida Keys.

Then came COVID-19, and another evaluation of the plan. Now, it has opted to move forward with multiple newscasts produced not by the recently acquired Scripps station’s own staff, but that by the Berkshire Hathaway-controlled ABC affiliate in Miami — its sole media property.

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LAKE WALES, FLA. — The co-founder and Chief Executive of vCreative, who established the media workflow-focused technology company with her husband, is moving to the role of President Emerita.

This gives the couple more time to devote to weddings, grandchildren, “exploring the world” and perhaps enjoying their lakeside home in Central Florida a little bit more as Susie Hedrick assumes the CEO role.

The changes for Jinny Laderer and husband John Laderer, vCreative’s Chief Technology Officer, will come April 1. At that time, Hedrick will rise from President/COO. Hedrick joined vCreative in February 2019 after serving as SVP/Sales for North America at WideOrbit, overseeing successful TV, radio, network and digital divisions.

What does this change mean for the Laderers’ involvement in the company they created in 2007?

In her new role, Jinny Laderer will attend company executive meetings and industry events, providing “guidance and historical context to ensure that the vCreative legacy continues.”

She will also remain a Broadcasters Foundation of America board member and as an Honorary Trustee for Alliance for Women in Media. Mrs. Laderer also remains on the Nominating Committee for the National Radio Hall of Fame and says she will invest more time with the Mentoring and Inspiring Women (MIW) organization to help nurture the next generation of strong female leaders.

“The timing is perfect,” said Laderer, who has been based in the small town of Babson Park, due south of Lake Wales and Orlando’s theme parks, for the last few years. “While I remain committed to our company, the industry and its people, vCreative is now perfectly positioned for its next chapter under Susie’s leadership, which allows John and I the freedom to focus on our next phase of life.”

John Laderer will continue to serve the company in a consultative technical role.

After working at a small firm offering copywriting, production and voiceovers to agencies and advertisers, Jinny Laderer in 2005 teamed with John in creating SaaS technology enabling her to work remotely as a Creative Director for 8 radio stations while she simultaneously operated her production company, TLCreative.

Two years later, vCreative was born. Today, its software is used by 19 of the top 20 broadcast radio groups, supporting more than 35,000 daily users.

In 2019, the Laderers sold vCreative to Banyan Software, an investment company with a unique buy and hold model.

Commenting on Jinny Laderer’s decision to hand chief executive duties to Hedrick, Banyan CEO David Berkal said, “Jinny and John built a strong and profitable software business with deep relationships. We have made a commitment to continue the Laderers’ people-first culture and the principle of trust that was built over many years. We 100% support Jinny and John as they step back from daily operations while retaining supportive roles in the company.”

Hedrick added, “Jinny and I share a kindred spirit. We both have a strong work ethic and passion for helping people and solving problems. Jinny will continue to have a strong influence on the company as we continue to innovate and grow.”

William W. McCutchen III a decade ago was described by the Waco Tribune-Herald as “the force behind Waco Entertainment Group LLC.

Based in the Los Angeles area, McCutchen in January 2010 acquired two Spanish-language FMs for $1.95 million from the now-defunct Border Media Partners. It was added to an FM in Sherman, Tex.

An Abilene property was also added to the mix. Now, the FCC has given its blessing on its sale.

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