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.
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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.”
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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.
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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.
A discussion about updating the commission’s personal radio service rules will be part of the Federal Communications Commission’s Open Meeting on Aug. 5.
The commission is considering granting three petitions of reconsideration to the Part 95 Personal Radio Services Rules, a set of guidelines last updated in May 2017 when the FCC reorganized and amended rules governing various short-range, low-power radio services — including the CB radio service, general mobile radio services (GMRS) and family radio service (FRS).
[Read: Rosenworcel Wants to Update Political Programming Rules]
The changes up for debate would allow FM to be used as an optional modulation scheme for all existing CB radio service channels and allow automatic or periodic location and data transmissions in the GMRS and FRS, which are channels often used during recreational activities and during emergencies and natural disasters.
The order would also correct typographical errors and rule changes to Part 95 that inadvertently changed the medical device radiocommunications service rules, also known as MedRadio.
The commission decided that the public interest would be served by making some additional rule changes as suggested by the three requests for reconsideration filed by Cobra Electronics, Motorola Solutions and Medtronic.
When the FCC last considered changes to Part 95 rules surrounding CB radio, the commission declined to permit use of FM frequency modulation, leaving AM amplitude modulation and SSB single side band as the only permitted voice emission types. At the time, the commission concluded that such a change might substantially change the character of the service, saying that the “alternative modulation techniques would be incompatible with the existing equipment base.”
Soon after, a petition for reconsideration was filed by Cobra requesting that the commission reconsider and permit FM operation as part of an optional dual-modulation scheme for CB radios, meaning that a CB radio could have both AM and FM capability. In its filing, Cobra stated that this “would allow users to enjoy the benefits of FM, if they so choose, while ensuring every new radio sold could communicate with all the existing radios in the field.” The company pointed out that a dual-modulation approach has been used successfully in other countries for many years and would benefit both professional and recreational CB users in terms of providing better quality and clarity.
The commission agreed and concluded that allowing manufacturers to add FM as an optional modulation scheme will not substantially change the fundamental nature of the CB radio service and would improve the user experience.
“Continuing to mandate AM capability while permitting dual modulation will provide benefits to CB radio users who will have an additional modulation option, while maintaining the basic character of the service,” the commission wrote in its order on reconsideration. “The addition of FM as a permitted mode will not result in additional interference because users who hear unintelligible audio on a particular channel can simply select another channel or switch modes.”
The commission said that parties planning to incorporate FM mode into CB radios will need to obtain a grant of certification under the commission’s equipment authorization rules.
The commission will also consider allowing automatic or periodic location and data transmission on all GMRS channels, even though in its previous report and order it concluded there was not enough formally recorded discussion in the FCC comment database to consider it. Based on the supplemental record received in this new proceeding, however, the commission concluded that the public interest will be furthered by allowing automatic or periodic location and data transmission on all GMRS channels. This is in contrast to the earlier changes, which only permitted manually initiated data transmissions.
The safety of radio users in remote, outdoor locations will be increased by having more frequent location information available without repeated manual requests, the commission said in its report. In addition, in an emergency situation involving individuals who are disoriented or otherwise unable to send manual transmissions, the automatic transmission of location information could enhance search and rescue operations.
The commission also agreed to fix typographical errors, clarify language within the Part 95 rules and correct unintended substantive changes made in earlier changes as part of this petition for reconsideration.
The post FCC to Consider Changes to Part 95 Rules appeared first on Radio World.
Marketplace is partnering with Westwood One to offer a 60-second “Marketplace Minute” to public radio stations.
“Twice daily, the one-minute program provides up-to-the-moment economic news in Marketplace’s signature accessible style. ‘Marketplace Minute’ will be available on participating public radio stations starting in August,” the organizations announced.
It is a co-production of American Public Media and the Cumulus Podcast Network. The show will also publish three times daily as a podcast and as a smart speaker briefing on Amazon, Google and Apple devices. It’s available on Apple iPhones through Siri.
The new short-form content joins the stable that also includes “Marketplace,” “Marketplace Morning Report” and “Marketplace Tech.”
The announcement was made by Chandra Kavati, vice president of distribution and underwriting at American Public Media, which distributes Marketplace programming. She said it means stations can offer timely updates throughout the day.
Here is a sample of “Marketplace Minute.”
The post Public Radio Gets a “Marketplace Minute” appeared first on Radio World.
Wheatstone said it plans a million-dollar investment to increase its production capacity.
The company, headquartered in New Bern, N.C., said it is making large component buys and an investment in new factory equipment.
“The goal is to double production in its New Bern factory where all Wheatstone and Audioarts products are made, from machining, fabrication, screening and circuit board surface mount to final testing and AoIP system configuration,” it stated in a release.
[Read: Wheatstone Rolls Out the Blade 4]
Wheatstone quoted Production Manager Matt Wilson saying that by keeping manufacturing in-house, it can respond more quickly to changes and have better control over a “volatile” supply chain.
Additions to the factory include a second multi-axis CNC mill and a larger-format brake press for precision metal work. Wheatstone also was an early adopter of surface-mount manufacturing technology, and plans to add another surface-mount machine to its floor to support manufacturing of its consoles, Blades and audio processors.
A new Omada press brake is prepped for service.The company said its recent orders include a multimillion dollar contract that includes WheatNet-IP audio console surfaces, network devices and system preconfiguration for 24/7 studios in 32 U.S. markets, “with the majority of completed systems to ship through September.” It did not identify the customer.
Manufacturers of broadcasting equipment are among those hit by the global instability in component availability. “Lead times on everything down to diodes and capacitors are insane,” Wheatstone’s Dee McVicker said, so the company has increased its materials inventories. “We’re sitting in a really good place, having been able to meet the requirements for one of our largest orders to date plus meeting all of our usual production runs with plenty of parts to spare.”
The post Wheatstone Beefs Up Factory Capacity appeared first on Radio World.
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.
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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.
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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
Digital Alert Systems is reminding users of DASDEC and OneNet EAS devices to update their IPAWS digital certificates.
“As you probably know, an IPAWS digital certificate expires on 21 August 2021. It is urgent that EAS Participants update their IPAWS digital certificates by or before that date,” wrote the company’s Edward Czarnecki.
[Read: National EAS Test Will Focus on Broadcast Chain]
“For DASDECs, we have an updated IPAWS digital certificate bundle that is now available and downloadable. There is no charge for this certificate update.”
If you don’t upload it by Aug. 21, CAP alerts from FEMA will not properly validate and will be rejected.
The certificate bundle can be applied to Version 3 or Version 4 software.
“If you are still running Version 3 software, the NPT test will be properly processed, however we still recommend you consider upgrading to V4 software,” Czarnecki said, noting that V3.0 was issued five years ago. Version 4 includes a completely upgraded operating system, plus numerous security, functional, and regulatory updates.
Sage Alerting Systems issued a similar notice recently, as we’ve reported.
The post DASDEC Users, Update Your IPAWS Certificates appeared first on Radio World.
The Federal Communications Commission is considering updating its political programming and recordkeeping rules for broadcast licensees for the first time in 30 years.
Acting Chairwoman Jessica Rosenworcel said two specific changes are designed to comply with statutory requirements and account for modern campaign practices.
The August commission meeting agenda has been released. It includes a notice of proposed rulemaking that, first, would revise the definition of “legally qualified candidate for public office.” If ultimately passed, this proposal would update the list of activities that may be considered in determining whether an individual running as a write-in has made a “substantial showing” of their candidacy. It would add use of social media and the creation of a campaign website to the list.
[Read: Changes to Radio Technical Rules Advance]
“At the time our current rules were drafted, social media and campaign websites did not exist,” the draft NPRM states. “Media coverage of recent campaigns on the national, state and local levels indicates that the use of social media has become an activity that bona fide candidates routinely use to solicit support, financial contributions and votes. Recent articles reveal that bona fide political campaigns use major social media platforms to advertise, connect with supporters, and fundraise, and that such engagement in social media use, for example, by creating a Twitter or Facebook account, typically increases donations for new politicians … In addition, social media platforms enable political campaigns to build support by disseminating campaign updates and targeting advertisements to potential voters, and they provide sophisticated tools to regularly measure user engagement.”
The draft NPRM also would also revise the FCC’s political recordkeeping rules to conform with the Bipartisan Campaign Reform Act of 2002 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. The commission said the current rule language does not reflect the federal law on this question.
If this NPRM is approved in August, these proposals would then be opened for public comment before the FCC would take action. In addition to radio and TV stations, the changes would apply to cable system operators, Direct Broadcast Satellite (DBS) service providers and Satellite Digital Audio Radio Service licensees.
The commission noted that it had not has done a formal review to update the political programming and recordkeeping rules in 30 years.
A PDF of the draft NPRM is available on the Radio World website.
The post Rosenworcel Wants to Update Political Programming Rules appeared first on Radio World.
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