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Following Tuesday’s closing bell on Wall Street, Des Moines-based Meredith Corporation shared that its Board of Directors has approved the distribution of one share of Meredith Holdings Corporation (“New Meredith”) common stock for each share of common stock of the company as it exists today, and one share of “New Meredith” Class B common stock for each share of soon-to-be “Old Meredith” class B stock held as of November 19.

This effectively put the Meredith/Gray Merger Marathon at Mile 26, with the finish line clearly in sight. In fact, Meredith has a date within the next month when it expects the closing to occur.

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Nexstar Media Group has appointed a 25-year broadcast management and sales veteran to the role of VP/GM of its operations in DMA No. 90 — Champaign-Urbana-Springfield, Ill.

He’s already on-site at the stations, reporting to Nexstar Broadcasting SVP/Regional Manager Traci Wilkinson.

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The PreSonus R80 is one of two new studio monitors released by the company.

PreSonus has launched its second-generation R65 V2 and R80 V2 active AMT studio monitors, replacing the original R-series monitors, which have been discontinued.

The new monitor speakers feature more control than the original R-series according to PreSonus, incorporating the analog Acoustic Tuning controls: low-cut, mid-frequency and high-frequency — from its Eris line. A three-position Acoustic Space switch allows users to compensate for speaker placement against a wall or in a corner. Also onboard is an upgraded 140 W (75 W LF, 65 W HF) Class A/B power amplifier.

[Check Out More Products at Radio World’s Products Section]

The new R65 V2 and R80 V2 monitors feature a custom-designed, 6.8-square-inch Air Motion Transformer (AMT) tweeter with a thin (< 0.01 mm) folded Kapton membrane intended to aid accurate transient reproduction. According to the company, the AMT tweeter also enables R-series V2 monitors to handle 8 to 13 times the projection area of more traditional tweeter designs, while the monitor’s housing design constrains the projection area to the horizontal axis.

The R80 V2 features an eight-inch, custom-woven, composite woofer, while the R65 V2 has a 6.5-inch woofer of the same design. The R80 V2’s overall frequency response is rated at 40 Hz to 22 kHz, while the R65 V2 delivers 45 Hz to 22 kHz.

Balanced XLR and 1/4-inch TRS and unbalanced RCA input connections are in back, and safety features include RF shielding, current-output limiting, over-temperature protection and subsonic protection.

PreSonus R65 V2 and R80 V2 studio monitors are available at $329.95 and $429.95, respectively.

Send your new equipment news to radioworld@futurenet.com.

Info: www.presonus.com

 

The post PreSonus R-Series V2 Monitors Debut appeared first on Radio World.

The Bureau enters into a Consent Decree with Larry Ryan d/b/a/ Eifel Tower Broadcasting

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Patrick Broadcasting LP enters into consent decree to resolve political file investigation

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Mad Dog Wireless, Inc. enters into consent decree to resolve political file investigation

The National Association of Broadcasters has made the following point many many times. But is making it yet again: Broadcasters bear an unfair burden in regulatory fees from the Federal Communications Commission.

The association filed reply comments in an FCC proceeding on this topic.

[Related: “CTA Loathes the Idea of FCC Collecting Fees From Unlicensed Spectrum Users”]

It explained yet again why it thinks it is “patently unfair” that radio and TV companies must “absorb significant fee increases year after year to not only pay for the costs of regulating broadcasters but also for commission activities that are primarily for the benefit of other entities in the telecommunications ecosystem.”

“To bring the commission’s failure into focus, this year alone, broadcasters will be responsible for nearly $3.5 million dollars in commission costs to oversee the Universal Service Fund (USF), in addition to nearly 20% of all broadband costs, even though broadcasters do not benefit directly from the commission’s broadband activities,” it wrote.

It said the commission must ensure that its fee methodology “accurately reflects the benefits received by the payors of its fees.” It called on the FCC to add a broadband fee category. And it said users of unlicensed spectrum have failed to justify why they should be “universally exempt” from regulatory fees.

[Read the comments.]

 

 

The post Fix Your Fee Problem, the NAB Again Tells the FCC appeared first on Radio World.

A study commissioned by WorldDAB indicates that broadcast radios remain an important feature to car buyers.

The research was done by Edison Research for WorldDAB in partnership with Radioplayer and supported by the National Association of Broadcasters, Commercial Radio Australia and Xperi.

Edison did national online surveys in September in Australia, France, Germany, Italy, the United Kingdom and the United States.

It found that broadcast radio “continues to dominate as the most preferred source of in-car entertainment across the globe.”

In the United States, among 1,060 recent and prospective car buyers surveyed, 89% said a broadcast radio tuner should be standard equipment in every car.

Perhaps surprisingly, this trend was consistent across age groups, Edison reported.

“The survey also reveals that the availability of radio has a major impact on consumers’ vehicle purchasing decisions,” the organizations wrote in a summary of the study. “Eighty-one percent of prospective car buyers in the U.S. say they would be less likely to buy or lease a vehicle that is not equipped with a built-in radio tuner.”

Other findings:

-Among “important” standard audio features in a new car, having a broadcast radio tuner ranked highest for prospective buyers, ahead of USB ports and the availability of Bluetooth and smartphone mirroring.

-More than half said they listen to broadcast radio in the car “frequently” versus 29% for online streaming music services and 19% for CDs.

-Ninety-one percent said it was “important” that radio should remain free. “The importance of free-to-air radio was highlighted by motorists’ concerns about data charges for streamed content: a clear majority (71%) of those who currently listening to audio via their mobile device say they are ‘concerned’ about how much data they are using.”

-Many U.S. car buyers expressed a desire to be able to search for stations using voice controls.

[Read the announcement and summary.]

The post Car Buyers Still Want Radios, Study Suggests appeared first on Radio World.

WASHINGTON, D.C. — The Sinclair Digital arm of Sinclair Broadcast Group and the Baltimore-based media company’s marketing technology and managed services operation Compulse have selected a measurement and marketing analytics platform to measure media performance across its 300+ digital properties.

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The Gracie Awards, presented by the Alliance for Women in Media Foundation (AWMF), has opened its call for entries for the 47th Annual Gracie Awards.

“The Gracie Awards celebrate and honor truly exceptional content by, for and about women,” AWMF President Becky Brooks said. “We know the circumstances of this year made production much more difficult, which is why we are more committed that ever
to honor the remarkable work by so many in our creative community.”

The Gracies is considered the AWMF’s chief fundraiser of the year, as it enables the alliance “to deliver on its promise of further the connection, education and recognition of women in media, even during difficult times,” said AWMF Board Chair Heather Cohen.

Cohen is again serving as a chair, alongside Crown Media Family Networks Chief Communications Officer Annie Howell, and veteran radio programming consultant Mike McVay.

The 2022 Gracie Awards entry eligibility air dates are from January 1, 2021 through December 31, 2021.

Early Bird rates for entries end on December 16, 2021, at 11:59 PM Eastern. The deadline for all entries is January 20, 2022, at 11:59 PM Eastern. Entry details including pricing, updated categories can be viewed at https://allwomeninmedia.org/gracies/call-for-entries/.

The application to judge the Gracies will be available soon.

Crown Media is a Diamond Sponsor of the 2022 Gracies.

NEW YORK — The Broadcasters Foundation of America has kicked off its annual year-end giving campaign with an appeal for tax-deductible donations that will allow the Foundation to continue providing financial assistance to those in broadcasting who need it most.

A 501(c)3 charity, the Broadcasters Foundation is the only organization dedicated exclusively to delivering financial aid to broadcasters and their families whose lives have been upended by tragic illness, accident, or catastrophe.

Personal donations to the Guardian Fund and corporate contributions to the Angel Initiative can be made at www.broadcastersfoundation.org/donate.

 

This year’s plea for donations follows a year-and-a-half of several cancelled fundraising events due to the COVID 19 pandemic, even as more broadcasters than ever are reaching out for monthly or emergency relief.

The Broadcasters Foundation will award more than $1.8 million in monthly and one-time emergency grants in 2021. Monthly grants have increased 75% and more than 500 emergency grants have been awarded since 2017. Over the past 20 years, the Broadcasters Foundation has distributed more than $15 million to broadcasters in need.

“Our grant recipients are hard-working broadcasters from across the country and from all size markets, who have been hit by challenging, often life-altering circumstances,” stated Scott Herman, Chairman of the Broadcasters Foundation of America. “With the support and generosity of the people in our industry, we can help your colleagues and their families get through their toughest times.”

“Requests for assistance have escalated at a significant rate over the past several years,” said Jim Thompson, Co-President of the Broadcasters Foundation. “Combined with the cancellation of several fundraising events due to the pandemic, personal and corporate donations are vital to continuing our charitable mission of disbursing financial aid to those in your industry who need it most.”

Co-President of the Broadcasters Foundation, Tim McCarthy, added, “As I become more involved with the day-to-day operations of the Broadcasters Foundation, I am in awe of the generosity of those in our business who give back by supporting our mission. I would ask everyone who has not contributed in the past to please join our cause and help your colleagues in need.”

Since its inception, the Broadcasters Foundation has distributed millions of dollars to thousands of needy broadcasters and their families. Individual donations can be made to the Guardian Fund, corporate contributions are accepted through the Angel Initiative, and bequests can be arranged through the Legacy Society.

To learn more or to donate, please contact the Broadcasters Foundation at 212-373-8250 or info@thebfoa.org or visit www.broadcastersfoundation.org.

When it comes to investing, financial blog Simply Wall St. notes that there are some useful financial metrics that can warn an investor when a business is potentially in trouble.

“When we see a declining return on capital employed (ROCE) in conjunction with a declining base of capital employed, that’s often how a mature business shows signs of aging,” the financial blog notes. “This reveals that the company isn’t compounding shareholder wealth because returns are falling and its net asset base is shrinking.”

On that note, Simply Wall St. took a magnifying glass to Saga Communications. What did the blog have to report? “We weren’t too upbeat about how things were going.”

Economic Forecasting: Broadcast Revenue Trends and Expectations for 2022 What do the experts have to say about the opportunities for broadcast advertising in the year ahead, along with the myriad challenges to growing its share? A Forecast 2022 panel of experts led by Jack Myers of MediaVillage are preparing now for what will certainly be a provocative discussion about who is going to “show us the money” in the year to come. Don’t miss out … join us at Forecast 2022 on November 16 in New York City. Click here for all of the details!

 

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One of the nation’s biggest media companies superserving U.S. Hispanic audiences has entered into a consent decree with the Media Bureau of the FCC that effectively resolves two online political file violations.

One incident occurred in Dallas. The other incident occurred in Houston.

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Audacy President and CEO David Field says he expects a full rebound in ad revenue in 2022 and the company’s third quarter 2021 report is proof of further progress in its recovery from the COVID-19 pandemic.

The audio company, formerly known as Entercom, reported net revenues for Q3 this year were $329.4 million, up 23% compared to the same quarter in 2020. And revenues were up 8% sequentially from the second quarter this year.

Spot radio advertising revenues for the broadcaster, which has more than 200 radio stations, were $220.6 million which is up 21% from third quarter 2020. Digital revenues climbed 30% YoY posting revenue of $61.4 million for the most recent quarter.

[Read: Audacy Picks Former NYT Exec for Digital Business Hire]

Field on a quarterly earnings call on Tuesday morning said the company continues to drive forward with “its strategic transformation as a scaled multiplatform audio content and entertainment company, including broadcast, podcasting, digital audio, network, live events, music news and sports.”

The sports betting ad revenue windfall continues for Audacy, according to its earnings report. Field said on the call the company is projecting sports betting ad revenue will grow 100% for the year 2021. “We expect sports betting to grow into a $100 million ad category for us in a few years as legalized mobile sports betting continues to spread across the country,” he said, “including California, Texas and Florida.”

The well publicized supply-chain issues affecting the United States impacted Audacy in Q3, Field said, especially in the automotive sector. Automotive, which is Audacy’s number one advertiser segment, was off about 40% in Q3 compared to 2020 levels. The company revealed today it doesn’t expect automotive ad revenue to recover until sometime in 2023.

“The decline in auto ad spending accounted for a third of our third quarter revenue decrease versus 2019. Another third was due to the combined cancellation of Audacy events and the decline in advertising from third-party concerts, theme parks and festivals,” Field said.

The radio broadcaster, which returned to hosting live Audacy events in the third quarter, has seen a significant difference in the rate of recovery between its larger and smaller markets, according to Field. “The sharp contrast in market recovery reflects how larger markets were slower to reopen and faced more disruption to their local economies. For Audacy this differential has a meaningful impact on our performance as our portfolio is by the far the most concentrated in the largest markets versus any of our peers,” Field said on the earnings call.

Audacy in October announced the $40 million acquisition of WideOrbit’s digital audio streaming and ad tech business and then relaunched it as AmperWave, which will “enhance future growth opportunities for Audacy,” according to Field.

“This acquisition gives us control of our product roadmap to deliver enhanced consumer-facing live and on demand streaming features to our 170 million monthly listeners using the cloud-based distribution and monetization platform,” Field said.

The company also this week announced Brian Benedik has joined the broadcaster as Chief Revenue Officer. Benedik is well known to many broadcasters for his previous role at Katz Media Group.

Audacy listed approximately $1.7 billion of debt in its most recent filing with the U.S. Securities and Exchange Commission.

 

The post Audacy Q3 Ramps up the Revenue appeared first on Radio World.

ATLANTA — The broadcast television station licensee that is on target to complete its merger with Meredith Local Media within the next eight weeks has completed its offering of $1.3 billion in aggregate principal amount of 5.375% senior notes due 2031.

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