Radio+Television Business Report

The network is not even 11 months old, and it now boasts triple the amount of programming it had at launch.

Now, as autumn readies its arrival, the winds are blowing in two more high-profile telejournalists at NewsNation — the Nexstar Media Group-owned cable TV operation overseen by President of Networks Sean Compton and, since mid-May, President of News Michael Corn.

One of the new faces at the network formerly known as WGN America will take a time slot given two weeks ago to another program, which will shift to a different time slot come late September.

Please Login to view this premium content. (Not a member? Join Today!)

DISH has selected its primary network services partner for its mobile virtual network operator, or “MVNO,” customers, inking an agreement with billions of dollars in value.

It’s with AT&T, and it is a 10-year agreement, according to a SEC filing made by DISH. “DISH has agreed to pay AT&T at least $5 billion over the course of the ten-year term of the NSA, subject to certain terms and conditions,” the filing states. Neither the length of the agreement nor its value were offered by DISH in an announcement distributed early Monday (7/19).

The deal will allow DISH to provide current and future customers of its retail wireless brands, including Boost Mobile, Ting Mobile and Republic Wireless, access to coverage and connectivity on AT&T’s wireless network, in addition to the new DISH 5G network.

The agreement, DISH says, accelerates its expansion of retail wireless distribution to rural markets where DISH provides satellite TV services.

AT&T is also providing transport and roaming services as part of the agreement, to support DISH’s 5G network.

DISH makes it clear that it is committed to providing competition in the wireless market as the nation’s fourth facilities-based carrier. As such, DISH reiterated that it will continue to build out what it calls “the nation’s first cloud-native, OpenRAN-based 5G network reaching over 70% of the population” by 2023.

“Teaming with AT&T on this long-term partnership will allow us to better compete in the retail wireless market and quickly respond to changes in our customers’ evolving connectivity needs as we build our own first-of-its kind 5G network,” said John Swieringa, DISH COO and Group President of Retail Wireless. “The agreement provides enhanced coverage and service for our Boost, Ting and Republic customers, giving them access to the best connectivity on the market today via voice, messaging, data and nationwide roaming on AT&T’s vast network, as well as DISH’s 5G network.”

DIRECTV BONDS OFFERED TO AID AT&T SEPARATION

The partnership between AT&T and DISH comes as AT&T takes another step toward the spin-off of Dish Network’s lone competitor, DirecTV. 

DIRECTV Entertainment Holdings LLC, a wholly owned AT&T subsidiary, on Monday revealed a proposed offering of $3.1 billion aggregate principal amount of Senior Secured Notes due 2027 by DIRECTV Financing and DIRECTV Financing co-Obligator.

The timing of pricing of the Notes is subject to market conditions.

Net proceeds will go toward the completion of DIRECTV’s separation from AT&T, and will trim debt owed to AT&T by the DBS provider.

TPG Capital is taking a 30% stake in DIRECTV, which AT&T acquired in 2015. Since then, it has largely phased out its own U-Verse video services.

WASHINGTON, D.C. — Indianapolis-based WFYI Public Media, the entity that runs the market’s NPR and PBS member stations, respectively, has been given the green light to lead a public media initiative “designed to instill journalism practices that meaningfully address local information needs through active listening and engagement.”

BE SURE TO FOLLOW RBR+TVBR ON TWITTER.

Please Login to view this premium content. (Not a member? Join Today!)

On Monday (7/12), Cumulus Media surrendered the license for a Class D AM serving the Oregon city of Eugene. The official silencing of this station came just one month after its 59th birthday, and it also sees the extinguishment of its FM translator.

While “The Valley” could be floored with the decision, the company’s News/Talker serving the market is poised to benefit.

Please Login to view this premium content. (Not a member? Join Today!)

On January 1, 2015, Nexstar Media Group agreed to an amended “put and call option agreement” with White Knight Holdings. 

On July 6, 2021, Nexstar exercised its option, putting the wheels in motion on its acquisition of a MyNetwork TV-affiliated UHF serving northwest Louisiana, and the MyNetwork affiliate serving Tyler-Longview, Tex.

Please Login to view this premium content. (Not a member? Join Today!)

Broadcast television programming is structured, like time itself, in a linear fashion. That, of course, is by design.

Dayparts and programming were developed to mirror the patterns of daily American life.  Of course, those conceptual schedules – even before COVID-19 rampaged the world – were more of a relic of the way America used to be than a reflection of where work, culture and society is headed today, notes Raghu Kodige, the co-founder and Chief Product Officer at Alphonso who was named CEO of LG Ads on July 14.

But, on the whole, “this structure still mirrored lifestyle patterns for a good portion of America and facilitated attraction of, and advertising to, audience segments desired by marketers.”

Please Login to view this premium content. (Not a member? Join Today!)

As its shares continue to rebound from a COVID-19 pandemic exacerbation of a five-year downtrend, the Board of Directors of Nielsen Holdings plc has declared a quarterly cash dividend of Nielsen’s common stock.

BE SURE TO FOLLOW RBR+TVBR ON TWITTER!

A dividend of $0.06 per share will be payable on September 2 to shareholders of record at the close of business on August 19, 2021.

It’s an incentive, perhaps, for current and new shareholders, as NLSN remains closer to the bottom of a five-year trend than at the top of it. As of 2:51pm Eastern, Nielsen shares were priced at $23.80, down 10 cents from July 15. By comparison, NLSN was priced at $28.10 on May 17, capping a steady growth trend that began Jan. 25, 2021, when the company’s shares ended the day at $21.50.

With a 1-year target price of $29.17, Nielsen has the ability to meet or succeed this price with relative ease, given its current trading level. But, some may question if momentum seen across the first half of 2021 is slowing.

Still, NLSN is more than $10 a share ahead of where it was on October 26, 2020, and is at a level last seen on a steady basis in April 2019.

Now, the bad news: On August 1, 2016, a $53.28 closing price for Nielsen shares was seen.

That said, Nielsen is a different company today than it was five years ago. And, it could be very well primed for less losses, fueling stock growth in the latter half of 2021.

When the FCC’s Media Bureau on June 4 released a Public Notice seeking to update the record in the 2018 Quadrennial Review proceeding, the volume of responses was bound to be large. Changes resulting from the Supreme Court’s unanimous 9-0 decision in FCC v. Prometheus Radio Project to allow the Commission to “modernize” its cross-ownership rules had just taken effect.

On July 1, Comment and Reply Comment deadlines were set. No less than five groups  expressed their concern to the Media Bureau that more time was needed to vocalize on paper what needed to be said as to whether the FCC’s media ownership rules remain “necessary in the public interest as the result of competition.”

The Bureau has obliged.

The original comment filing deadline of August 2 and reply comment filing deadline of August 30 has been extended by one month.

The new Comment Deadline in MB Docket No. 18-349 is Sept. 2.
The new Extended Reply Comment Deadline is Oct. 1.

It is a win for Common Cause; Free Press; the Multicultural Media, Telecom and
Internet Council (MMTC); the National Association of Black Owned Broadcasters (NABOB); and the NAB.

The groups argued that, as more than two years have passed since the original comment cycle in the proceeding was completed, many economic and legal developments in the media industry have transpired since then. As such, additional time is needed to address
“the many complex economic and legal issues through research, updates to previously filed material, and new information.”

Extensions of time aren’t routinely granted. But, in this case, the Media Bureau found “sufficient justification” to warrant grant of the extension request.

In late December 2020, The E.W. Scripps Company appointed a television industry veteran with a surname matching its multicast unit to head them on a day-to-day basis.

Taking the role of COO and Head of Entertainment for Scripps’ national TV networks business, newly expanded following Scripps’ purchase of ION Media: Jonathan Katz.

Nearly eight months later, Katz — founder and President/CEO of what was known as Katz Networks, which Scripps acquired in 2017 — is departing.

In an internal e-mail sent to Scripps employees, Scripps Networks President Lisa Knutson, whom Katz reported to, said, “It is with regret that I share that Jonathan Katz has decided to leave us.” She added that Katz has been “a tremendous partner in getting the Scripps Networks business launched as well as hiring and promoting terrific people.”

Knutson assured Scripps employees that the national TV networks business “is in great shape financially and organizationally, and we have built a strong foundation for our ongoing growth and success.”

Knutson will assume Katz’s duties. According to media reports, Katz plans to launch a new company in the visual media space.

Katz had responsibility for the networks’ entertainment brands including Bounce, Laff, Grit, Court TV Mystery and the ION networks as well as Black consumer-focused streaming service Brown Sugar and syndicated pop culture talk program “The List.” Katz also had oversight of revenue, research, marketing and programming for the entire portfolio of Scripps’ national networks.

Katz is known for launching the Bounce network in 2011 as a broadcast television network dedicated to serving African-American audiences. Three years later, he founded the Katz networks as digital multicast programming needs widened.

More notably, Katz resurrected the Court TV brand network in 2019, directed its expansion into the United Kingdom in 2020, and led the development of true crime-focused channel Court TV Mystery.

Before founding the Katz networks, he was SVP/GM of program planning and acquisitions for all of the Turner Entertainment Networks including TBS, TNT, Cartoon Network, Adult Swim and TCM, including acquisitions work for the original Court TV and The WB broadcast network.

Additionally, Katz oversaw the re-branding and relaunch of WTBS in Atlanta as WPCH-17 under the “Peachtree TV” brand and led all aspects of the station’s operations as general manager.

Before joining Turner’s Entertainment Group in 2000, he was vice president of marketing for CNN Newsource.

Katz launched his career in local TV with roles in programming, advertising, publicity, promotion, production and news at WTOG-44, a one-time “Superstation” in Tampa-St. Petersburg. He’s also worked at WJZY-TV in Charlotte, WDBB-TV in Birmingham and at WCFT-TV in Tuscaloosa, Ala.

Kerry Denny has secured the purchase of a Class A television station serving the Bayou State’s second-largest market.

The deal involves the sale of a non-commercial, religious facility from a church in the city.

Please Login to view this premium content. (Not a member? Join Today!)

Its share value is down 41% since early March. July 15 saw the “restructuring” of its Contemporary Hit Radio (CHR) stations, resulting in the importation of two hosts across numerous stations it owns throughout the U.S.

Now, Audacy — the company formerly known as Entercom — has engaged in what’s called a “trade receivables securitization” that will give it a huge influx of cash.

Please Login to view this premium content. (Not a member? Join Today!)

PORTLAND, ORE. — Alpha Media, as expected would occur within days of FCC approval, has emerged from Chapter 11 bankruptcy protection.

The company says it has done so “with a significantly improved capital structure.”

In addition to “substantially reducing its debt”, Alpha raised incremental capital to pursue growth opportunities — suggesting it is a buyer.

This would “further enhance its position as a leading mid-market broadcaster across 44 local markets in the United States.”

“This is an important achievement for Alpha Media as we strengthen our Company’s ability to grow,” said Alpha Media Chairman and Chief Executive Officer Bob Proffitt. “Today Alpha Media begins its next chapter, with an improved financial foundation, new capital and enhanced competitive positioning. We have greater financial resources and flexibility, and we will continue to invest in new digital capabilities to better serve our advertisers and communities across our local markets.”

Proffitt continued, “I am so proud of all that our teams at each of our radio stations have accomplished during this period. Our unique culture continues to be key to Alpha Media’s success, and I thank the entire Alpha Media family for their dedication and hard work. We are thrilled to continue our mission to deliver dynamic, diverse and exciting content to our communities.”

As RBR+TVBR first reported July 13, Alpha Media’s plan has received all necessary court and regulatory, including FCC, approvals, and all customary conditions have been satisfied. “With its financial restructuring complete, Alpha Media is positioned to continue serving each of the communities in which it operates across the United States,” it says.

Sheppard, Mullin, Richter & Hampton LLP served as Alpha Media’s lead restructuring counsel, and Kutak Rock LLP served as Virginia counsel. Wiley Rein LLP served as the Company’s FCC counsel. EY Turnaround Management Services LLC and Moelis & Co. served as the Company’s financial advisors. Kramer Levin Naftalis & Frankel LLP served as legal counsel to certain of the new equity holders and GLC Advisors & Co. served as financial advisor.

It was announced Friday that podcast listening app Pocket Casts will be joining Automattic, the parent company of WordPress.com.

Co-founders Russell Ivanovic and Philip Simpson will continue to lead Pocket Casts as part of Automattic.

A release on WordPress.com said, “We will explore building deep integrations with WordPress.com and Pocket Casts, making it easier to distribute and listen to podcasts. We’re thrilled that we can continue to give our users a multitude of ways to tell and engage with stories that matter.”

— Podcast Business Journal

WASHINGTON, D.C. — The Media Bureau has opened what is formally called MB Docket No. 21-293.

It deals with “Revisions to Political Programming and Record-Keeping Rules,” and it is certainly a topic of interest for every broadcast media C-Suite executive.

The Notice of Proposed Rulemaking proposes to update the Commission’s political programming and recordkeeping rules for broadcast licensees, cable television system operators, Direct Broadcast Satellite (DBS) service providers, and Satellite Digital Audio Radio Service (SDARS) licensees.

“The proposed updates would conform our rules with statutory amendments, increase transparency, and reflect modern campaign practices,” the FCC says.

The NPRM proposes two specific actions.

First, the Commission proposes to revise the definition of “legally qualified candidate for public office” in the Commission’s political programming rules to add the use of social media and creation of a campaign website to the existing list of activities that may be considered in determining whether an individual running as a write-in candidate has made a “substantial showing” of his or her candidacy.

Second, the FCC proposes to revise the Commission’s political recordkeeping rules to conform with the Bipartisan Campaign Reform Act of 2002 (BCRA) to include any request for the purchase of advertising time that “communicates a message relating to any political matter of national importance” (i.e., issue ads) and specify the records that must be maintained.

A Comment Date and Reply Comment Date are forthcoming, as they will respectively reflect 30 days and 45 days from the date the NPRM is published in the Federal Register.

On March 6, Audacy stock topped the $6 mark, repeating a feat achieved in early February. All seemed bright for the company formerly known as Entercom, as its stock price had been stuck in the $1.50 range until the 2020 U.S. Presidential Election for months.

Since that early March finish, Audacy shares are down 41% in value. The latest dip comes on reports that its Top 40, or Contemporary Hit Radio (CHR), stations, on Thursday saw a culling of its air personality roster.

Please Login to view this premium content. (Not a member? Join Today!)

It’s Virginia’s home for public media, headquartered at 23 Sesame Street in Richmond. It rebranded in August 2019 from Community Idea Stations.

Now, VPM is gaining attention again, but for the wrong reason. It’s received a Notice of Apparent Liability for Forfeiture for not making a required public file upload to the Commission’s “OPIF” in a timely manner.

It was also admonished by the Commission.

Please Login to view this premium content. (Not a member? Join Today!)

The acquisition of three broadcast towers in Norfolk from Com-Ent LLC has closed.

This puts the structures in the hands of an entity that owns or operates more than 1,000 structures across the U.S.

CTI Towers, headed by Tony Peduto, is the buyer, and it will now own tower structures used in the Hampton Roads region of Virginia by Max Media, Hindlin Broadcasting, and Sinclair Communications (not to be confused with Sinclair Broadcast Group).

Michael J. Bergner of Bergner & Co. served as the broker in this transaction. He notes that the towers are “income producing,” and such structures remain in high demand. “I fully expect values to go even higher as 5G services come online,” he notes.

For the second consecutive year, the Radio+Television Business Report is teaming up with Media Staffing Network for an exclusive Sales Compensation Study.

Friday, July 23 is now the final day one can participate by taking the survey.

We know that sales teams have endured many challenges over the past year. What is perhaps the biggest visible change at broadcast TV that Laurie Kahn, CEO for Media Staffing Network, has seen?

Kahn shares her insights, along with why it’s so important for those in TV sales to participate in this study, in this InFOCUS Podcast, presented by dot.FM.

Listen to “The InFOCUS Podcast: Laurie Kahn, Media Staffing Network” on Spreaker.

ViacomCBS has completed its leadership transition from Peter Dunn, who led the CBS O&Os until losing his job amid claims gender and racial misconduct, and news division leader David Friend, who was also tied to similar allegations.

As of August 2, there will be a new President of CBS Stations. She will report to President and Co-Head of CBS News and Stations Wendy McMahon.

Who is it? Look no further than the FOX affiliate serving Portland, Ore., which are being sold to Gray Television by Meredith Local Media.

That hasn’t stopped Meredith from naming Roark’s replacement, even as a change in ownership looms.

Please Login to view this premium content. (Not a member? Join Today!)

It began service in September 1987 with home shopping programming. Its history includes ownership by Paxson Broadcasting, which had hoped to use the property as a flagship for what is today ION Network. It was also earmarked as a New York DMA home for Azteca América some 20 years ago, but the plan collapsed.

Now, this facility using digital Channel 21 is being acquired by the company whose digital multicast network aired on the station from Jan. 4, 2012 until fall 2015: Weigel Broadcasting.

Please Login to view this premium content. (Not a member? Join Today!)