Radio+Television Business Report

Two years ago, he was appointed Director of Sales for Univision Communications’ radio and television properties in San Antonio. Now, with rumors swirling that Univision wishes to sell some of its radio stations, this media ad sales veteran with experience at Urban One and iHeartMedia is joining Cumulus Media.

He’ll be leading up the company’s audio properties in Birmingham, Ala.

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Of the media companies that have seen the most excitement on Wall Street across 2020, Urban One is perhaps tops when it comes to radio and television industry assets combined with a growing casino gaming operation.

It’s stock burst upward one year ago, fueled by new commitments from advertisers to Black-owned media. Earlier this month a second burst in share value came. Both times, shares receded following those big gains.

Now, SEC disclosures show that a former Urban One board member and two current members have obtained a chunk of Class D shares in the African American-focused company.

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On November 9, sports data and iGaming affiliate platform QL Gaming Group (QLGG) officially became an Entercom Communications entity, as the company now known as Audacy closed on its all-cash purchase of QLGG.

In late January 2021, that deal gave birth to the BetQL Audio Network, with programming created expressly for the sports gaming community. Now, Audacy has rebranded four CBS Sports Radio stations, eliminated “The Score” in one market, and dropped Spanish-language sports programming from a heritage Washington, D.C., AM to help spread the “BetQL” brand.

Starting today, the following stations will take on new branding as “The Bet”:

• Baltimore – WJZ-AM 1300
• Detroit – WXYT-AM 1270
• Houston – KIKK-AM 650
• Kansas City – KWOD-AM 1660
• Las Vegas – KXST-AM 1140
• Washington, D.C. – WJFK-AM 1580

On June 28, an additional station — WWWL-AM 1350 and its FM translator at 92.9 MHz — will switch from “New Orleans Classic R&B” to “The Bet.”

The rebranded stations follow the launch earlier this year of “The Bet” on KEZW-AM 1430 in Denver, and on FM HD multicast signals in Chicago and Los Angeles.

Meanwhile, WQAM-AM 560 in Miami will air select BetQL Network programming, as will WRNL-AM 910 and FM translator 105.1 MHz in Richmond and WTEM-AM 980 in Washington, D.C.

Future stations will be announced in the coming months as markets legalize sports betting, Audacy says.

Furthermore, Audacy plans to distribute the network via affiliate opportunities with additional network providers. Details to be announced in the coming weeks.

However, an Audacy spokesperson tells RBR+TVBR that the company is not rebranding CBS Sports Radio, and that the stations the company owns that aren’t making the change to BetQL Network programming will keep things as is.

“When we launched the ‘BetQL Network’ in January, we committed to giving our national audience a home for compelling sports betting content as this new landscape was rapidly growing,” said Audacy EVP/Programming Jeff Sottolano. “This expansion is the next step in that goal and we’re pleased to bring new and dynamic ‘BetQL Network’ programming to nine additional markets and new digital platforms. We are proud to build on our local and national sports audio leadership position with this expanded commitment to production and distribution of entertaining sports betting content to audiences across the country.”

As of 11:42am Eastern, Audacy shares were trading at $4.15.

Streamline Publishing’s Radio Ink and Radio + Television Business Report are pleased to announce that Forecast 2022 will be back in New York on November 16 — with RBR+TVBR a co-presenter for the first time.

The one-day conference, which attracts C-Suite media executives and Wall Street observers each year to the Harvard Club, grows in its 19th year with the addition of  broadcast television industry topics of conversation, insight and growth.

With this expanded focus, Forecast will be co-chaired by Disney Media & Entertainment Distribution Media Networks President Debra OConnell and Bill Wilson, CEO of local media and radio broadcasting company Townsquare Media.

“We are especially excited about this year, not only for the chance to re-convene in person, but to have two such outstanding media executives chair this year’s Forecast,” said Deborah Parenti, publisher of RBR+TVBR and Radio Ink. “The fresh focus, energy, and direction they will bring to the agenda will add greatly to the event.”

“After the last year, it’s more important than ever to come together across our industries and share key learnings and best practices,” OConnell said. “I’m thrilled to be co-chairing with Bill and working with the Forecast 2022 team on an event that enables us to share all the valuable learnings of the last year, and more importantly, help us identify and drive long-term growth strategies for the radio and television businesses moving forward.”

OConnell oversees operational leadership including P&L oversight of all of Disney’s linear television channels, as well as business planning, network/channel commercial marketing, and audience strategy for the ABC broadcast network and eight ABC Owned stations, Disney Channel, Disney Junior, Disney XD, ESPN Networks, FX Networks, Freeform, and National Geographic Networks.

OConnell has been associated with ABC’s owned stations for more than two decades and previously served as President/GM of WABC-7 in New York. In this role, she had overall management responsibility for the station and all of its ancillary businesses, as well as Live with Kelly and Ryan. In 2020, she was recognized by Radio + Television Business Report as a Top Local TV Leader.

Wilson, who has been associated with Townsquare Media since September 2010, said, “Forecast 2022 will be an important opportunity for broadcasters to fully examine and understand the consumer and advertiser trends in local media post the pandemic, including which trends were permanent and were accelerated as a result of the pandemic. Many challenges, yet many more opportunities. I am very pleased to be co-chairing this year’s event with Debra OConnell.”

Register for Forecast 2022 today.

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The worst of the COVID-19 pandemic is now in the past. Plans are in the works for the 2021 NAB Show in Las Vegas. One group of CFOs and other key financial leaders in broadcast media have successfully navigated through stormy seas and are positioned for sunny days ahead.

In recognition of their efforts, the readers of RBR+TVBR have once again spoken, with nominations for the Broadcast Best Finance Leaders of 2021. It’s a ranked Top 15 list, as it was in 2020, and honors industry professionals who have demonstrated leadership prowess, fiscal skill, and the acknowledged respect of their peers.

Who’s at No. 1?

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Want to take your coaching game to the next level?

This column from expert sales trainer Barrett Riddleberger is worth six minutes of your time.

Here, he provides a list of “proven” techniques that effective sales managers use to improve sales performance.

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When it comes to long-term investments, the company’s stock is still a big winner. Still, Urban One shares trading as “UONE” have been as up and down of late as a rollercoaster at Kings Dominion.

On heavier-than-average volume, Urban One stock was down sharply in midday trading on Friday — continuing a plunge that began on Tuesday (6/15). Why are shares down, following a sharp rise at the start of June?

Some are pointing to the registration of 2,928,906 Class A shares — a $58,373,097 offering for Urban One — made this week by the African American-centric media company and casino gaming operator.

The move allows Urban One to sell, from time to time, up to that amount of stock. There’s no guarantee that Urban One will execute a sale anytime soon. But, the mere possibility spooked those looking for a quick payout from a stock that shot up in value after months of tepid, uninspiring activity in the wake of social justice protests and a newly stated commitment from big companies to invest in Black-owned media with their advertising budgets.

That was exactly 12 months ago, when Urban One soared from prices in the $1.30 range to $36.30 as of June 15, 2020. By September 7, UONE was down to the mid-$3 range. For long-term investors, gains were threefold. For day traders, the pain was severe.

Then came mid-May. In the last month, UONE moved from $5.43 to $9.56 on May 20, only to dip to $7.35 on May 28. Then came a big burst of buying activity, as investors learned of Urban One’s coming casino operation in Richmond. Shares shot up to $18.57 by June 8 and climbed to $20.95 on Monday, June 14.

That finish was the best for UONE since that June 2020 rise-and-recede activity.

But, another rise-and-recede story is underway. At 1:40pm Eastern, UONE was priced at $10.81. This reflects a 48.5% share value slide for the week, should UONE close June 18’s trading session at that level.

Urban One’s “UONEK” shares are also down, but not as significantly, and were trading at $4.64 in midday trading Friday. On June 7, a $6.45 closing price was seen; UONEK was trading in the mid-$1 range through late April 2021.

SAN LUIS OBISPO, CALIF. — With 100 watts from a small broadcast tower on city-owned property, Morro Bay, Calif.-based KEBF-FM serves this bucolic Central Coast community as low-power locally focused “The Rock.” It simulcasts on a 9-watt signal overlooking Paso Robles, famed for its vineyars.

It’s just one of many LPFMs that could benefit from a rule change brought forth by the FCC this week.

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He’s the President of Carroll County Broadcasting and of related entity Bunyard Northwest Properties.

Now, Jay Bunyard is adding an additional Arkansas radio property to his stable of stations.

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The Video Advertising Bureau (VAB), in partnership with the ANA’s Alliance for Inclusive and Multicultural Marketing (AIMM) and presented by Univision, will host a weeklong virtual summit next week that provides “a virtual stage for new voices and candid conversations, featuring video advertising industry professionals whose experiences can inspire real shifts in mindset and offer practical guidance.”

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One month ago, a licensee headed by Matthew Davidge and Julie Huang agreed to purchase a trio of yet-to-be-constructed low-power TV stations serving small communities in Illinois, New Mexico and North Dakota, respectively.

They’ve now struck a series of bigger deals with the entity that in May agreed to spin those three unbuilt LPTVs — HC2 Broadcasting.

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A former U.S. Surgeon General has agreed to join the medical reporting team of the CW Network affiliate serving Indianapolis owned by African American broadcast station owner DuJuan McCoy.

BE SURE TO FOLLOW RBR+TVBR ON TWITTER!

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In late May, the head of sales for Fox Television Stations’ owned-and-operated station serving the Minneapolis-St. Paul market, who added SVP/Market Manager duties in December 2014, packed her bags and relocated to the company’s Seattle-Tacoma operations.

Now, her successor has been chosen, and it is a promotion from within.

Marian Davey, the VP/News Director for KMSP-9 and MyNetwork TV sibling WFTC (KMSP-9.2), has risen to SVP/GM of the Twin Cities siblings.

Davey succeeds Sheila Oliver, who took the Seattle SVP/GM post, overseeing KCPQ-TV “Q13,” and “Joe TV” KZJO-TV.

Davey reports directly to FOX Television Stations CEO Jack Abernethy, who called out Davey for “a stellar job in leading the KMSP-FOX 9 news team for the past eight years. Her past success and understanding of the market, coupled with her local news expertise and results-driven attitude, make her the natural choice to lead our Minneapolis duopolies.”

Marian Davey

Davey has been with the FOX-owned duopoly in Minneapolis for nearly 20 years. She ascended to her most recent role in August 2013, and previously served as Managing Editor and Assistant News Director for the stations. Prior to joining FOX, she spent fourteen years at WCCO-4 in Minneapolis, in various roles ranging from intern, to Producer, and Managing Editor at the CBS O&O.

“Getting the opportunity to lead these incredible stations, KMSP/WFTC is a dream come true,” Davey said. “I’m honored and excited to bring both stations continued growth and success.”

 

The parent company of FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations is moving forward with an authorization of incremental stock repurchases.

This could see FOX Corporation snap up hundreds of millions of its own Class A and Class B shares.

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In addition to owning a formidable portfolio of over-the-air television stations across the U.S., Atlanta-headquartered Gray Television is the parent of video production companies such as Raycom Sports, Tupelo Honey, and RTM Studios.

Now, Gray is seeking to better monetize its internal content production portfolio when presenting to CMO, brand managers and advertising agencies.

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“SuperFrank” Copsidas has gained attention over the years for his television industry activity across New England.

Now, he’s decided to invest in a low-power TV station in a popular area of Texas due northwest of San Antonio.

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Some four years ago, Jimmy Johnson’s Johnson Broadcast Ventures reached an agreement to sell a Class C radio station serving the city of Roanoke Rapids, N.C.

However, some 17 months after the transaction was consummated, the deal cratered due to the buyer’s default on a Promissory Note agreed upon in order to get the sale in motion.

Now, Johnson has tried again, and has a new asset sale agreement in place for this AM facility.

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WOODBRIDGE, VA. — For seven years until 2012, he was President/GM of ABC Radio’s stations serving the National Capital Region.

Now, after leading Alpha Media‘s four radio stations in nearby Fredericksburg, Va., Jeff Boden is on an express VRE train heading north, and will be back in Friendship Heights to lead what are now Cumulus Media‘s radio properties serving Washington, D.C.

Boden is taking the role of VP/Market Manager, and will lead a much different group of properties than what ABC Radio ran until nine years ago. Gone are Smooth Jazz WJZW and Hot Adult Contemporary WRQX “Mix 107.3.” Today, the station group is comprised of Talk powerhouse WMAL-FM 105.9, and “ESPN 630” WSBN-AM.

Still, it’s a homecoming for Boden, who spent more than three decades in D.C. radio and holds a communications degree from American University.

And, it is bittersweet, as Boden is succeeding the late Ken Roberts, who unexpectedly passed away in April.

Commenting on Boden’s return to Jenifer Street in far Northwest Washington, Cumulus EVP/Operations Dave Milner said, “WMAL and WSBN are exceptional stations and demand an exceptional leader at the helm. Jeff is the perfect choice to take these D.C. stations into the future, and we couldn’t be more thrilled to have him on the Cumulus Media team. His deep experience and relationships in the market, along with his past experience, make him our ideal choice. Jeff is respected and appreciated by those in and out of the company.”

Boden commented, “I am truly honored to have this once-in-a-lifetime opportunity to rejoin the exceptional team at Cumulus in Washington, D.C. It’s wonderful to come back to serve the local community and our advertising partners. I look forward to working with so many people I have known for years, as well as with newer additions to the team.”

— RBR+TVBR Washington News Bureau

For 39 years, Kagan has offered an up-close look at where broadcast radio and TV is heading, with respect to revenues and station valuations.

This continued on Thursday (6/17) in virtual fashion, as the 2021 Kagan Media Summit kicked off with a spotlight on the U.S. broadcast station industry from Senior Research Analyst Justin Nielson.

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In March and April 2020, the revenue picture looked rather bleak for Sinclair Broadcast Group. Today, things couldn’t be more different — and more positive.

Even with chip shortages hampering new auto inventory, squelching advertising dollars, Sinclair is hitting all cylinders. With mid-term political dollars on the horizon and sports betting revenue projected to be significant, Sinclair’s chief executive is excited about the “big uplift” that’s already underway.

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