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Executive leaders representing the No. 1 owner of broadcast television stations in the U.S. will be participating in a pair of major institutional investor conferences during the month of May.

Nexstar Media Group Chairman/CEO Perry Sook will participate in a “Fireside Chat” at 9am Eastern on May 14 at the MoffettNathanson Technology, Media & Telecom Conference.

The timing is intriguing, given its proximity to Upfront Week in New York. The MoffettNathanson gathering will be at the Hilton Midtown in Manhattan.

Sook will then head to Boston, as the JPMorgan 52nd Annual Global Technology, Media and Communications Conference is scheduled for Monday, May 20 at the Westin Boston Seaport District hotel.

He’ll participate in a Fireside Chat at that event, too. It is scheduled for approximately 1:10pm Eastern.

A live webcast and replay of the MoffettNathanson and JPMorgan fireside chats will be available through the “Events and Presentations” section under “Investor Relations” on Nexstar’s website at www.nexstar.tv.

By all accounts, the 2024 NAB Show in Las Vegas was largely successful for Xperi Inc., as its DTS AutoStage continues to gain momentum while its HD Radio and TiVo branded products also give the company growth opportunities it perhaps hasn’t seen in several quarters.

Rubric Capital feels otherwise, and seeks to replace half of Xperi’s independent board directors. Xperi on Wednesday addressed this “puzzling campaign” by firmly dismissing Rubric’s effort.

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The NAB Show drew around 61,000 people this year, according to the association’s projections, down from around 65,000 last year.

The association is emphasizing its success at bringing in new attendees. It said a “staggering” 54 percent were first-timers, which it defined as people “not having attended since 2017 if ever.”

It also saw an uptick in the percentage of international attendees, to around 27 percent from outside the United States.

Attendance in 2022, the first year back after the COVID interruption, was approximately 53,500.

There were about 1,300 exhibitors this year including around 200 first-timers. The show dates next year are April 5–9. The Central Hall will be under renovation next year.

The post NAB Show Drew Around 61,000 appeared first on Radio World.

MIAMI — NBCUniversal Telemundo Enterprises has created a new structure for its Telemundo Studios arm the Comcast unit says is designed to boost its scripted content offerings across linear and streaming platforms.

This sees a promotion from within to fill the dual role of President/Entertainment and Chief Content Officer. At the same time, an Executive Vice President of Telemundo Studios has been hired.

Now reporting to NBCUniversal Telemundo Enterprises Chairman Luis Fernandez in the higher role of CCO is Ronald Day. Reporting to Day as Telemundo Studios EVP is Javier Pons.

“At a time when Telemundo is the most-watched network in prime time, we are super-charging our scripted content production under one strong brand: Telemundo Studios,” Fernandez said. “For almost two decades, Telemundo has led in the production of Spanish language content made by Hispanics for Hispanics. With this streamlined structure, we are doubling down on our commitment to serve the Latino community with the best scripted content across all platforms for years to come.”

Day’s new role sees him expand his responsibilities beyond the network’s entertainment programming and unscripted content to include Telemundo Studios, comprising the development and production of all scripted content for linear, as well as owned and third-party streaming platforms.

Pons will be responsible for all scripted productions for the Telemundo network and streaming platforms.

A veteran production executive, Pons brings to Telemundo decades of production and management experience across major media companies in Spain, Mexico and France.

Day joined Telemundo in 2018 as Executive Vice President of Entertainment for Telemundo Networks. Before that, he held multiple leadership roles at Univision Network, including SVP/Programming and Promotions, where he oversaw all executive producers and in-show content. He also oversaw the launch of Telefutura, later rebranded UniMás, the third Spanish-language broadcast network.

Pons arrives from Spain, where he served as General Director of Globomedia and as Head of TV at The Mediapro Studio.

Pons has held multiple leadership roles in Spain at such major operations as Prisa Radio, Televisión Española and Discovery Kiss. He also worked in Mexico as President of the production company On Demand and as Executive Producer at Estudios Azteca.

 

Eight affiliates of The CW Network can now be seen by DirecTV streaming customers, thanks to new carrier agreements signed by the direct broadcast satellite service provider and the network’s owner, Nexstar Media Group.

 

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It might have a company name that suggests it focuses on print media, but Better Newspapers happens to be the owner of four FM radio stations and an AM with an FM translator in Missouri.

Now this licensee, owned by Greg and Scott Hoskins, is officially adding to its station stable some six months after a deal was reached.

 

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Local Daily Media publishes online newspapers powered by its radio stations in each of the markets it serves.

That market roster is about to grow, thanks to a deal to acquire JAM Media Solutions‘ properties as that company completes a Chapter 7 bankruptcy proceeding.

LDM, a unit of Williamsburg, Va.-headquartered Davis Media LLC, has agreed to purchase the following properties from Jeffrey Testa, who serves as the Chapter 7 trustee overseeing JAM’s debtor-in-possession resolution process:

• KMCS-FM 93.1, K236CF and KWPC-FM 95.1 in Muscatine, Iowa
• WCXL-FM 104.1 “Beach 104” in Kill Devil Hills, N.C., and WCMS-FM 94.5 in Hatteras, N.C.
• WVOD-FM 99.1 in Manteo, N.C.; and WZPR-FM 92.3 in Nags Head.

An $800,000 purchase price was agreed to. This reflects a substantial loss and a distress sale situation in a difficult climate for transactions. JAM’s Iowa stations were acquired from Prairie Communications for $965,000, while WCXL and WCMS were sold by Max Media for $1.75 million; a Max Media subsidiary sold WVOD and WZPR for $100,000.

As RBR+TVBR reported in October 2023, JAM, founded in 2018 by Jonathan A. Mason, had no choice but to move ahead with the liquidation of its assets in order to resolve its debt. Testa, of Newark-based law firm McCarter & English, became the court-appointed trustee. That decision came two months earlier, after a voluntary Chapter 11 bankruptcy petition filed in October 2022 was converted to the more devastating Chapter 7 bankruptcy plan.

With creditors including Max Media, Prairie Communications-affiliated WPW Broadcasting, Broadcast Electronics and the major music licensing groups, including SESAC, GMR, BMI and the Radio Music License Committee, funds owed by JAM will now start flowing to them.

At closing, $650,000 will be wired to Testa; $150,000 will be retained to “correct any antenna, transmission line, lighting, structural or maintenance issues” at the WCMS-FM tower site, establishing a maintenance reserve.

A good faith deposit of $25,000 has been made by Davis Media.

The broker in this transaction is Media Sales Group, doing business as Hanna Unwired LLC.

Serving as the buyer’s legal counsel is Brad Deutsch of Foster Garvey P.A. 

Operating as “Local Daily Media,” Davis Media LLC saw Treasurer/CFO Adam Crotty sign off on the agreement. Once the deal closes, the JAM stations will join WBQK-FM “Cannon Country 107.9” and WNTB-FM “93.7 The Dude” in the Wilmington, N.C., market; WUIN-FM “98.3 The Penguin” in Cape Fear, N.C.; and WTYD-FM 92.3 “The Tide,” which serves an area to the immediate north of Newport News, Va., and the Chincoteague peninsula of Virginia.

LDM will assume control of the JAM properties on Wednesday, May 1, via a Time Brokerage Agreement.

 

GatesAir plans a new software release to help broadcast networks and content syndicators manage local ad insertions through Intraplex AoIP and cloud networking systems. It will be available in June.

“The new targeted advertising capabilities, fueled through precise metadata triggers enabled within the software, offer a compelling new reason for broadcasters to transition out of the satellite space and embrace the benefits of the cloud for bulk audio transport,” the company said.

The software capabilities are supported on the Intraplex Ascent cloud platform and IP Link 100c, 100e and 100n AoIP codecs. 

“For broadcasters using satellite for bulk transport today, moving to a cloud platform such as Ascent means much lower long-term costs and greater control of the operation without any sacrifice to reliable program delivery,” it said.

Local insertion using an IP Link 100 c system.

“In a typical scenario, a customer’s traffic manager will interface with a headend-based IP Link codec or Ascent to trigger virtual metadata that activates local ads for network affiliates at defined times with exacting precision, and switch back to national programming at the conclusion of the local ad break. Triggers are scheduled within the Intraplex platform, which automates delivery to all affiliates without requirements for local manual intervention. Intraplex IP Link Audio over IP codecs or Ascent will automatically receive and activate triggers at local affiliates to manage the breaks.”

The company said broadcasters that use satellite for program syndication and large-scale content delivery are faced with fresh challenges from the C-Band satellite repack, including diminished capacity to rising operational costs.

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The post GatesAir Expands Targeted Advertising Capabilities appeared first on Radio World.

Did Sirius XM Holdings engage in patent infringement, using technology that was unlawfully based on a high-bandwidth content distribution structure created by a Texas limited liability company with an office in downtown Fort Lauderdale, Fla.?

That’s what the U.S. District Court for the Eastern District of Texas has been tasked with deciding. And, given the plaintiff, the case could very well be settled before trial.

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A renewed racial discrimination fight against the nation’s two direct broadcast satellite (DBS) providers will not proceed for DuJuan McCoy and his Circle City Broadcasting, thanks to a federal appeals court decision delivered Tuesday (4/16) that upholds a lower court’s dismissal of the case.

 

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MediaCo Holding Inc., a publicly traded company on Nasdaq whose assets include two FM radio stations in New York, has acquired Estrella Media’s network, content, digital, and commercial operations.

To be clear, an asset purchase agreement with required FCC approval has not been drawn up, and Estrella Media will own its current roster of television and radio stations — for now. While the relationship is akin to a shared serves agreement seen across the broadcast media landscape, Mediaco will have an option to buy the radio and TV stations at a future date.

With the deal, which closed yesterday, an executive leadership change is happening at Burbank, Calif.-based Estrella Media.

 

Peter Markham, who took the CEO role at Estrella Media in October 2019 following its emergence from federal bankruptcy protection and transition from Liberman family ownership, is exiting the post.

Serving as interim CEO is Jacqueline Hernández, most recently the CEO and Founder of New Majority Ready, a multicultural marketing and content strategy firm. For Hispanic market professionals, she’s widely remembered for her role as Chief Marketing Officer of NBCUniversal Hispanic Enterprises. She has also recently served as a board member of Estrella Media.

“This combination of tested media brands and talented teams will fuel growth of content and distribution for the benefit of our multicultural audiences,” said Ms. Hernández. “We believe this combination is the first step in building a unique multicultural media company that will reach diverse U.S. audiences wherever they choose to consume content and create value for marketers working to reach these important audiences.”

Deb McDermott, the CEO of Standard Media, is also the Chair of MediaCo., parent of WQHT “HOT 97” and WBLS in New York. She commented, “This leverages the strengths of two great companies to build something new. We are committed to representing and serving the Hispanic marketplace, as well as continuing to represent and grow the diverse audience that MediaCo already serves. We see a need for media brands to embrace opportunities with all audiences, and Estrella Media is a key part of our growth strategy.”

Among the Estrella Media brands joining MediaCo are EstrellaTV, Estrella News, Cine EstrellaTV, and Estrella Games – and the EstrellaTV app. Estrella Media also has a collection of regional Mexican-focused radio stations in markets such as Los Angeles, Houston and Dallas. Among the company’s most-established audio assets is Don Cheto Al Aire, the nationally syndicated morning show.

The transaction closed on Wednesday as many industry leaders were leaving Las Vegas at the close of the 2024 NAB Show.

As MediaCo sees it, “The combined footprint of MediaCo positions it as one of the strongest radio content providers for Spanish and Urban music in both terrestrial radio and audio streaming. These audiences represent almost one third of the U.S. population and 100% of the consumer growth in the marketplace.”

Kudjo Sogadzi, who serves as President/COO of MediaCo, commented, “Today marks the beginning of an exciting journey for MediaCo. As we embark on this next chapter, we see a great opportunity to combine our strengths and capabilities to redefine how we deliver media to our diverse audiences.”

Markham added, “This is a natural next step in the evolution of Estrella Media’s content operations to better serve our important U.S. Hispanic audience. This transaction helps secure a bright and growing future for MediaCo to become the preeminent media company serving the multicultural audiences who drive ad spend ROI and brand growth.”

Several media brokers who spoke to RBR+TVBR about the transaction noted that Estrella Media had been seeking to conduct a deal for some three years.

MEDIACO’S $120 MILLION MOVE

For MediaCo, the deal marks a significant turning point for an entity some trade publications recently reported was experiencing significant fiscal concerns regarding its continuing operations.

With the transaction that closed April 17, Estrella Media will own and operate its local radio and television stations until a date when MediaCo decides to acquire them … if at all.

MediaCo, until that time, will provide programming and content.

MediaCo will also leverage McDermott’s leadership as Hernandez will work with her in an effort to increase distribution with other broadcast partners, as well as to grow digital streaming, Connected TV, and advertising-based video-on-demand (AVOD) assets.

So, what is the structure of the deal that was completed yesterday, effectively shifting all operations of Estrella Media to MediaCo?

There is an Asset Purchase Agreement, with Estrella Media subsidiary Estrella Broadcasting. This entity purchased “substantially all of the assets of Estrella Broadcasting” other than its local radio and television stations. Importantly, MediaCo received an option to acquire those stations from Estrella Broadcasting at a future date, subject to receipt of necessary regulatory approval.

Is there cash being traded between MediaCo and Estrella Media?

As consideration in the transaction, Estrella Broadcasting is receiving a warrant to purchase up to a total of 28,206,152 newly issued shares of MediaCo Class A Common Stock, exercisable at an exercise price of $0.00001 per share. This puts the value at $282.06.

The bigger news is that MediaCo is paying $30 million in cash today, and will issue $60 million of newly issued shares of MediaCo Series B Preferred Stock that will accrue dividends at a rate of 60% per annum, handing that to Estrella Media.

Then, there is a $30 million second lien term note with a five-year term and an interest rate of SOFR + 6% per annum.

In connection with the exercise of the local radio and television stations option, Estrella Broadcasting would receive an additional 7,051,538 newly issued shares of MediaCo Class A Common Stock.

WhiteHawk Capital Partners provided a $45 million first lien term loan facility to MediaCo in connection with the transaction, $35 million of which has been drawn at closing. In connection with the transaction, three designees of Estrella Broadcasting were added to the Board of Directors of MediaCo. The transaction was approved by the boards of directors of MediaCo and Estrella Broadcasting.

Prior to the consummation of the transaction, Standard General converted all of the outstanding shares of MediaCo Series A Preferred Stock into a total of 20,733,869 shares of newly issued shares of MediaCo Class A Common Stock in accordance with the terms of the Series A Preferred Stock.

MediaCo is filing with the Securities and Exchange Commission a Current Report on Form 8-K that will provide additional detail regarding the transaction.

Fried, Frank, Harris, Shriver & Jacobson LLP and Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to MediaCo in connection with the transaction. RBC Capital Markets, LLC served as exclusive financial advisor to Estrella Broadcasting and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Wiley Rein LLP served as Estrella Broadcasting’s legal counsel. Sidley Austin LLP served as legal counsel to WhiteHawk Capital Partners.

CBS Stations has named a fifteen-year veteran journalist who has worked at its Sacramento and San Francisco broadcast TV stations to serve as the principal correspondent focused on Golden State politics and how it impacts their constituents.

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Issued an Erratum correcting a Fourth Report and Order, Order on Reconsideration, and Second Further Notice of Proposed Rulemaking, FCC 24-18, released on February 22, 2024

LAS VEGAS — It has become a tradition for many NAB Show attendees to conclude the annual conference and expo with an early morning breakfast gathering in the Brahms Roomn of the Encore Resort. This year was no different, as the 2024 NAB Show began its final day with a Broadcasters Foundation of America event that saw a radio industry icon receive an “Excellence in Broadcasting Award.”

Erica Farber, who is exiting the Radio Advertising Bureau (RAB) after 12 years, was saluted for her many contributions to the radio industry. Before joining RAB as its CEO, she led the former beloved industry trade publication Radio & Records. She has also held leadership roles at Interep, and for RKO Radio. Farber even auditioned for the role of Laurie Partridge in the original ABC television series The Partridge Family. Susan Dey got the role; the radio industry got Farber, who rose to lead RKO’s WXLO “99X” in New York in the mid-1970s when actor and comedian Jay Thomas was the station’s morning host.

In addition to Farber’s recognition, several other prominent industry figures in broadcasting have been named this year’s BFoA Leadership Award recipients.

These include Mike McVay, President of McVay Media; Don Bouloukos, a former executive at CBS and ABC Radio; and Traug Keller of ABC Radio Network and ESPN Radio.

On the television front, recipients were Frank Comerford, NBCU Local CRO and President of Commercial Operations; and John Rouse, EVP of ABC Affiliate Relations at Disney Platform Distribution.

Kathleen Kirby, a Partner at Wiley Law, is also among the 2024 honorees.

For over seventy years, the Broadcasters Foundation of America has served as a crucial support network, providing confidential financial assistance to over 1,000 radio and television broadcasters and their families across the United States who face severe financial difficulties. The foundation, supported by its Board of Directors, numerous volunteers, and many contributors, continues to offer aid to those in the broadcasting community in need.

RBR+TVBR OBSERVATION by Adam R Jacobson: On December 11, 1995, after a few training days at the Washington, D.C., bureau led by Randall Bloomquist, a wide-eyed, cocky, poorly dressed cub reporter with a journalism degree and a passion for the radio business showed up for his first day of work at Radio & Records‘ Los Angeles office at precisely 8:55am. Twenty-five minutes later, when most of the editorial team rolled in, as is typical in L.A., he settled in for what would turn out to be a 10 1/2-year career at R&R. While there was plenty of immature stupidity that led to meetings with Ron Rodrigues and Cyndee Maxwell and lapses of judgment galore, the woman who ran R&R — Erica Farber — was struck by my quick ability to settle in to Southern California just four days after frantically packing and flying out west for the most exciting opportunity one could have dreamed of. I shared with Erica how I found a furnished apartment, mastered the local bus schedules as I had no money for a car (in 1995 this was absurd, compared to today), and had even entertained distant cousins one day after securing a lease. “Would you like to consider a role in our sales team?” she asked. I was flattered … but I was a journalist, and brought to R&R to cover Radio. I stuck with that. And, I made lifelong friends, a few enemies, and met a slew of rock ‘n’ roll celebrities. With the sale of R&R to VNU and its August 8, 2006, merger with Billboard Radio Monitor, I was moving on — and away from Radio. It was a great run; I was done … until August 8, 2016, when Eric Rhoads and Deborah Parenti gave the keys to a publication that was barely on the radar during my R&R days. Fast-forward to the 2024 NAB Show, and somehow, someway, I’m one of two people tied to my time at R&R that are still covering the industry today. Kevin Carter continues the “Street Talk” legacy, as I offer broadcast media business, legal and financial news with skills carved at R&R. While Gail Mitchell was a marvelous mentor, and Julie Gidlow was the News Editor extraordinaire who deserves tremendous accolades for translating Pig Latin and Stream of Consciousness Essays into intelligent, insight-filled columns, I must congratulate Erica on her retirement and for all she has done for this industry, and for me. Without Erica agreeing to create a position for me, who knows where I’d be right now. Over the years we’ve always figured out how to say hello. Alas, this year I didn’t get the chance, even as we were steps away from each other at the ENCO booth, or at the ever-popular Encore Lobby Bar. So, here’s to you Erica. Thank you. Mille Grazie. Gracias. I can’t say it in enough ways.

LAS VEGAS — The government-funded BBC has been honored with the 2024 Broadcaster of the Year Award, one of the biggest accolades to be revealed at a New York Festivals (NYF) Storytellers Gala where 2024 Radio Awards winning entries were shared as part of the NAB Show.

“Engaging audio entries submitted from storytellers around the world mesmerized listeners and were recognized with trophies by the 2024 Radio Award Grand Jury,” New York Festivals notes. Winning entries include entertainment and music specials, podcasts and audiobooks, dramas, and documentaries, and up to the minute news coverage.

Captivating audio entries submitted by the BBC that informed, educated, and entertained  were recognized with Gold trophies. including “The Shamima Begum Story- S2” of I’m Not A Monster and Believe in Magic (a BBC Studios Productions Limited production). Silver trophy winners include “The Global Jigsaw” (BBC World Service), “Shiny Bob: The Devil’s Advocate,” and “Crossing the Cuillin Mountains.” Those two programs are produced by BBC Scotland.

Boutique production company Almost Tangible was recognized with the 2024 Radio Production Company of the Year Award. Award-winning entries include their Grand and multiple Gold-winning “Hamlet Noir.”

2024 Grand Awards

The Beatles’ Legacy: Red and Blue by Howlett Media Productions Ltd – Documentary: Music earned the Grand Trophy. Written, narrated, and produced by Kevin Howlett, The Beatles’ Legacy: Red and Blue two-part series reveals the story behind ‘Now And Then’ and examines the power of the most enduring catalogue in popular music, as represented by the two historic double LPs. Since their release in 1973, the Red and Blue albums have acted as an introduction to The Beatles for generation after generation of young music fans.

Hamlet Noir from Almost Tangible – Entertainment: Drama Program was honored with the Grand Award. Hamet Noir is an innovative mashup of Danish and British creativity: fusing the original words of Shakespeare with a modern detective narrative to create a gripping Nordic Noir crime drama, anchored in Shakespeare’s iconic play. Hamlet Noir was awarded 4 Gold trophies.

Bloodlines by CBC Podcasts, BBC Asian Network, BBC Sounds – Podcasts: Narrative/Documentary Podcast tells the story of a generation of children, who In the aftermath of Islamic State, were forced into a reality they never chose. “Bloodlines,” a profound and poignant podcast from BBC Sounds and CBC, delves into the lives of these children, born under the shadow of Islamic State’s so-called Caliphate or taken there by radicalized parents.

Murder in Boston: The untold story of the Charles and Carol Stuart Shooting Produced by the Boston Globe, presented by the Boston Globe and HBO Documentary Films – Podcast: Investigative Journalism Podcast was recognized by New York Festivals with the 2024 National Press Club Award. The National Press Award honors the highest scoring news program across the Breaking News Story Coverage, Continuing News Story Coverage, Nonfiction Series and News Podcast categories.

The New York Festivals Radio Awards 66-year legacy provides a showcase to celebrate world-class storytellers from around the globe. It is noteworthy that the vast majority of honors did not feature U.S.-based content.

Starting Monday, the owner of broadcast TV stations in Jacksonville, Houston, Roanoke-Lynchburg, San Antonio, Orlando and its home market of Detroit will have a new VP of News.

Taking the role is the former SVP of Local News at The E.W. Scripps Co.

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