Industry News

Increasing its visibility on Capitol Hill, as its Members gain the attention of more investors than ever, is a key first effort for the recently launched LPTV Broadcasters Association.

From new construction permit regulations enacted by the FCC to increased valuations in transactions seen across 2021, low-power TV is growing — and has become more important than ever. For the LPTVBA, connecting with consumers includes the use of low-power TV stations for hyperlocal news and events, such as high school football. Then, there are the future dollars tied to the rollout of broadcast internet, which one LPTV licensee will soon move forward with.

In this InFOCUS Podcast, presented by dot.FM, LPTVBA Executive Director Michael Lee offers a comprehensive update on why his organization seeks passage of the “Local Journalism Sustainability Act” as low-power television stations attract buyers ranging from The E.W. Scripps Co. and Gray Television to entrepreneurs including LPTVBA founder Frank Copsidas and South Asian TV programming specialist Ravi Kapur.

Listen to “The InFOCUS Podcast: Michael Lee, LPTV Broadcasters Assn.” on Spreaker.

There’s a new VP/GM for the CBS and The CW Network affiliates serving Boise, Idaho.

New to the Sinclair Broadcast Group duopoly in Idaho’s biggest market is the former VP/GM of the CBS affiliate serving Champaign, Ill., a Nexstar Media Group property.

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New leadership for talent strategy at CBS News and Stations that its leaders believe “will enhance the organization’s recruitment and development” has been named by its presidents and co-heads, Neeraj Khemlani and Wendy McMahon.

The appointments are effective November 1.

The changes involve CBS News SVP Laurie Orlando, who will move into a new role overseeing talent strategy for the CBS Stations and local streaming unit, reporting to McMahon.

They also involve 20-year CBS News production and talent recruitment specialist Alison Pepper, who returns to the fold to take on the role of SVP for talent strategy for CBS News and Network streaming, reporting to Khemlani.

The new structure is part of “the evolution” of CBS News and Stations under Khemlani and McMahon, a move made by ViacomCBS “to unify all local to global newsgathering across all platforms.”

Orlando joined CBS News in January 2016 after serving as a top executive for ESPN, where she oversaw talent recruitment and development since 2008. She began her career in television in 1980 as a news intern with WRGB-6 in Albany, N.Y. In 1986, she worked as an intern for “Late Night with David Letterman” before moving onto positions with Showtime and Comedy Channel.

Pepper spent almost two decades at CBS, rising to senior producer for 60 MINUTES until taking a job as an agent at CAA in its Television – News and Sports Media group, where she represented on-air reporters, personalities and producers.

Pepper’s career at CBS News began as a page in May 2000.

The first of the broadcast media industry’s quarterly earnings reports surfaced on Thursday morning, as Meredith Corporation, which is in the final stages of the sale of its Local Media unit to Gray Television, released its fiscal 2022 first-quarter results.

With Barry Diller’s IAC purchasing the National Media arm, and all other assets, of Meredith, this will be the final Q1 report television industry observers and financial analysts will see from Meredith. And, as is typical in non-political years, tough comparisons are at play, explaining a 7% Local Media revenue decline.

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NATE, the tower association, has passed along a warning from 3M, a major manufacturer of safety equipment for the tower industry.

Select runs of the company’s DBI-SALA Nano-Lok self-retracting lifeline with anchor hook are under suspicion. First clue, they were manufactured between Sept. 1, 2020 and Aug. 31, 2021, part/model numbers: 3101218, 3101219, 3101241, 3101198, 3101223, 3101224 and 3101249.

The concern is an improperly formed rivet for the top swivel eye that could work loose and fail. 3M has provided instructions on how to inspect the device. If the rivet is formed correctly and secure the unit is safe and can be used.

Check out the warning issued for specific details and what actions need to be taken.

No accidents have yet been reported.

The post Fall Protection Equipment Safety Alert Issued appeared first on Radio World.

The nation’s biggest owner of radio stations has repurchased and cancelled all of its outstanding shares of Series A Perpetual Preferred Stock. To do so, it used cash on hand, wiping 60,000 outstanding shares out of existence.

It is officially iHeartMedia Inc. subsidiary iHeart Operations Inc. that made the move, one that sees the audio content and distribution company behind iHeartRadio voluntarily repurchase the full balance of its $60 million preferred stock.

According to iHeartMedia Chairman/CEO Bob Pittman, it demonstrates the company’s commitment to strengthening its balance sheet and increasing free cash flow, while still maintaining “ample liquidity.”

Pittman added, “Repurchasing early allows us to realize interest savings, exit the most restrictive instrument on our balance sheet, and continue to reinforce iHeart’s commitment to improving our capital structure. This action continues to demonstrate our confidence in our business moving forward.”

The cash repurchase price for each Series A Perpetual Preferred Stock is $1,000, plus a premium equal to the remaining dividends required to be paid through the optional redemption date of May 1, 2022 — discounted at a negotiated rate. This results in an aggregate redemption amount of $64.35 million to be paid to the holders of the $60 million Series A Perpetual Preferred Stock.

On word of the repurchase, IHRT shares were up 22 cents to $19.81 in after-hours trading on Wednesday.

Following in Spot Inc.‘s footsteps in 2016 would have been a good move. Today, with respect to its finances, it is ill-advised.

Tell that to Jack Dorsey, the billionaire CEO at Twitter. His company’s shares plummeted Wednesday on Wall Street following the release of less-than-stellar Q3 2021 results.

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The Board of Directors at the Northern Virginia-based broadcast TV company that’s reportedly considering bids from Byron Allen and from a partnership between embattled investor Soohyung Kim’s Standard General and Apollo Global Management has declared a shareholder dividend.

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With Wednesday’s Closing Bell on Wall Street, 100 shares of Audacy Inc. stock would cost, minus any broker fees, $321.

That’s still not even close to the revised price target one financial analyst just put on a single share of Spotify stock, lauding the streaming audio company for an “excellent” Q3 2021 report card and an outlook that is “quite strong.”

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ANNAPOLIS, MD. — For 24 years, he’s served as a partner at radio industry programming and sales data and insights consultancy Research Director.

Now, after 40 years in the radio industry, he’s announced his retirement at year’s end.

On December 31, Charlie Sislen will conclude a career that began in 1981, and since 1997 has exclusively involved his role at Research Director.

Sislen comments, “It has been a pleasure being part of Research Director for the past 24 years. I woke up every day excited not only about what would come next, but also more importantly the people I would interact with. I enjoyed every conversation with Research Director’s amazing team, our tremendous clients, and everyone who makes our industry great.”

Sislen thanked his partner, Marc Greenspan, who he says had the vision to bring him into the company.

Sislen continued, “I am leaving a phenomenal team, whose hard work made my role as the face of the company easy. They made the difference for every one of our clients. Now is the time of my life where I must shift my focus from my career, which I love, to my family and my community. Research Director and the radio industry will always be in my heart.”

Sislen’s transition is already underway, with much of his duties being handed to new Director of Client Services Karen Morriss.

She was most recently a senior account manager at Nielsen Audio.