Industry News

Until its merger with Meredith Corporation, Atlanta-headquartered Gray Television didn’t own a broadcast TV station in its home market.

With the FCC‘s blessing, it will be adding a third over-the-air station to its collection in The A.

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It is designed “to elevate the visibility of diverse-owned media companies with advertisers and agencies.”

Introducing the Diverse Media Equity program, courtesy of the nation’s dominant audience measurement and consumer psychographics data provider.

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MIAMI — Just days after the closing of a transaction that effectively melds Televisa’s media content and production assets with those of Univision, the combined company now known as TelevisaUnivision Inc. has appointed a pair of sales leaders who are each taking Senior Vice President roles under EVP/Multimedia Sales John Kozack.

Joining the company are Rob McGovern, as SVP of Multimedia Sales, and Richard Bertodatti, as SVP of Multimedia and Audience Sales.

McGovern will be based in Los Angeles and will lead the West Coast National Sales efforts. McGovern was previously SVP/National Sales & Client Partnerships at Outfront Media, where he led West Coast national ad sales and the development of revenue growth strategies to drive new OOH business. McGovern has also served as SVP of Sales & Client Partnerships at WarnerMedia and spent nine years at Discovery Networks as VP/National Sales Manager.

Bertodatti will lead the company’s business with Publicis, IPG, Havas, the Boston territory, and at other agencies and work with Univision’s multimedia sales teams “to help optimize and accelerate the advanced advertising sales capabilities.”

Bertodatti joins TelevisaUnivision from Facebook, where he was Director of Global Investment Programs, focused on video and sponsorship opportunities. He previously spent six years at ViacomCBS, where he was active in the data advertising sales and strategy team.

Bertodatti started his career at Telemundo parent NBCU, where he held various sales roles during his 12-year tenure, across various network, digital and cable properties.

In the Public Relations trade, it has become standard practice to release headline-making breaking business news late in the day on a Friday. By doing so, the impact will be lessened, while consumers affected by the now-resolved dispute are happy and going on with their lives.

This is what occurred just before 6pm Eastern on February 4 between DISH and TEGNA. A new carriage agreement was reached — with its timing expressly tied to the start of the 2022 Winter Olympics.

But, is the second reason for an end to a particularly bitter battle tied to the institutional investment firm led by Soohyung Kim, which is reportedly close to a per-share buyout of the company he unsuccessfully sought to lead via two failed shareholder proposals?

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The year 2021 was a quiet one for U.S. broadcast transactions, according to a new report, and radio station deal values were at their lowest point in at least 40 years.

According to a market deal recap, S&P Global Market Intelligence found that while broadcast station advertising revenue rebounded from the hit it took in 2020 due to the COVID outbreak, the station transaction market is sitting at near-historical lows.

Total TV and radio deal volume for 2021 was $4.72 billion. Radio represented only 4% of that; $190.2 million is the lowest value for radio transactions in the company’s records, spanning four decades.

The four largest radio station deals were driven by three of the country’s top-10 TV station owners.

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In June, Sinclair Broadcast Group announced the sale of its only radio stations to Lotus Communications for $18.06 million.

And late in the year, The Walt Disney Co. received $24.25 million for its remaining radio stations: VCY America will pay $9.25 million for KESN(FM) in the Dallas–Ft. Worth market, while Good Karma Broadcasting will pay $15 million for Disney’s AM stations in New York, Los Angeles and Chicago, along with an LMA for Emmis Communications station WEPN(FM).

Of the TV/radio broadcast total, about $4.2 billion or almost 93% came from the top two deals and their spinoffs.

In February 2021, Gray paid $925 million to Quincy Media for two TV stations and two radio stations. In April, Gray then sold 10 full-power and three low-power stations from the Quincy acquisition to Allen Media Group for $380 million. In May, Gray then announced the acquisition of Meredith Corp. and its 16 full-power and 30 low-power TV stations for $2.82 billion.

For the third year in a row, the average cash flow multiple for radio transactions remained stable at 6.6-times forward buyers broadcast cash flow. “In our estimates, only 25 full-power radio stations were sold based on their cash flow. That is, however, five stations more than in 2020.”

The post Radio Transactions Are at Near-Historical Lows appeared first on Radio World.

It was expected, yet some remained concerned that the necessary percentage of Radio Music License Committee (RMLC) members needed to approve an agreement was still out of reach.

Those worries can now be swept away. A settlement between the RMLC, a group representing several smaller and independently-owned radio stations, and the Irving Azoff-controlled Global Music Rights (GMR) has been reached.

News of the agreement, which RBR+TVBR learned on Friday was imminent, was first shared by Streamline Publishing’s co-owned Radio Ink early Monday.

The deal puts a settlement of long-running litigation between GMR and the RMLC over the royalties that the radio stations which are members of the Committee, led by Executive Director Bill Velez, will pay for the public performance of music written by composers aligned with GMR.

One condition of the settlement, an important one, called for a sufficient percentage of radio stations to opt into the deal by signing the form license agreement that
RMLC and GMR negotiated. The negotiated form license agreement, with member
stations’ annual license fees, was sent directly by GMR via e-mail. That sufficient percentage of signatures was met.

The new GMR licenses that radio stations represented by the RMLC signed will begin on April 1. An interim license previously agreed upon by the parties expires on March 31.

In a statement, Azoff said, “Global Music Rights stands for songwriters and the value of their music. I am proud of the GMR team for the hard work on behalf of songwriters in achieving this settlement. It is wonderful that GMR and thousands of radio stations coast to coast are partnered to bring great music to fans for many years.”

Speaking for the RMLC is its Chairman, Ed Atsinger III, the Executive Chairman and former CEO of Salem Media Group. Atsinger commented, “This settlement puts an end to more than five years of litigation and represents a shared desire by both sides to find a way for radio stations and GMR to work together on a long-term basis without repeatedly resorting to litigation.”

Litigation was perhaps an unfortunate hallmark of GMR’s battles with RMLC, as the settlement resolves antitrust litigation that dates to late 2016.  The battle was bruising, with RMLC striking first in November 2016. A month later, GMR countersued, assailing the RMLC as “an illegal cartel.”

With the deal, radio stations now have rights and royalty accords with GMR, SESAC, BMI and ASCAP. Despite these payments paid by radio, groups including musicFIRST, led by former New York Congressman Joe Crowley, are aggressively seeking Congressional approval of the American Music Fairness Act. While the AMFA was in the spotlight last week on Capitol Hill, it has far less support than the Local Radio Freedom Act, a resolution that serves as a pledge to vote against any legislation placing new fees on broadcast radio with respect to airplay of recorded music.

Forty-three years ago, he began his career at a Class A FM at 92.7 MHz serving Nassau County, N.Y., and parts of New York City with a mix of rock and punk music that would eventually coalesce under leadership that built a radio station that “Dared to Be Different.”

He later made waves as the man who preceded Howard Stern in overnights at a station that previously featured Jay Thomas in mornings that just couldn’t shake its association with Disco.

For the last 18 years, he’s been running a Class A Adult Alternative FM based in Maryland’s state capital.

Now, Bob Waugh is ready to say farewell.

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Could department store retailers be ramping up their spot TV efforts because of the Olympic Games? Or, are other forces at work?

Whatever the case, Target and Macy’s are highly active users of Spot TV, according to the latest Media Monitors report.

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How many active advertisers are there at Spot Radio these days?

Once one deletes iHeartRadio promotional spots and podcast teasers from the mix, the answer is, sadly, not that many.

On the bright side, Macy’s is back with a new effort. This puts the retailer at No. 10 with some 35,145 spot plays.

By comparison, the top paid advertiser, Indeed, comes in with 62,554 spot plays for the week ending February 6.

At No. 4 thanks to a renewed campaign push is DuckDuckGo, “the Internet privacy company that empowers you to seamlessly take control of your personal information online, without any tradeoffs.”

Meanwhile, ZipRecruiter is present to challenge Indeed in the job search category.

Lastly, the QSR category is represented by Wendy’s.

It’s a company “dedicated to providing Great Local Radio and is committed to being an active and integral part of the communities it serves.”

As of today, meeting that goal is now a bigger part of the role Jim Smith will play at the radio broadcasting company led by Mary Quass.

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