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Industry News

FCC Can Use New Pirate Radio Fines Starting April 26

Radio World
4 years 2 months ago

As of April 26, the Federal Communications Commission can start hitting pirate radio operators with beefy new fines.

The Federal Register has now published rules that the FCC recently adopted at the direction of Congress in the “Preventing Illegal Radio Abuse Through Enforcement (PIRATE) Act.” The rules take effect April 26.

[Read “It’s Official: PIRATE Act Signed Into Law”]

The act, signed by President Trump early last year, gives the FCC authority to levy fines of up to $100,000 per violation and $2 million in total.

It also aimed to streamline the enforcement process; requires the FCC to conduct mandatory enforcement sweeps in cities with the highest concentration of pirate radio use; and seeks to ensure more coordination among federal, state and local law enforcement.

The law also mandated the creation of a publicly accessible online database that lists U.S. stations as well as all entities that have received notice that they are operating a broadcast station without authority.

But whether the commission will be able to carry out all of these goals anytime soon is a question.

In January, as we’ve reported, the head of enforcement at the FCC told Congress that efforts to implement the act against illegal stations have been hampered by the pandemic as well as a lack of funding.

Rosemary C. Harold, chief of the Enforcement Bureau, submitted the commission’s first annual report to Congress about its pirate radio work.

Harold said the mandatory telework policy that took effect due to COVID-19 was an obstacle. And, she continued, as of January the commission had received no funding to implement the act a year after it became law.

“The Congressional Budget Office and the commission both estimated that it would cost $11 million for the commission to implement the act,” she said then.

“And yet, the PIRATE Act itself contained no appropriation or other funding source to cover its implementation costs. And because the commission’s FY 2021 budget ceiling level was established by the Office of Management and Budget on December 3, 2019, before Congress adopted the PIRATE Act, the commission did not have an opportunity to incorporate costs related to the implementation of the PIRATE Act during the president’s fiscal year (FY) 2021 budget process.”

As to “sweeps” that the FCC is supposed to do at least once a year in the five markets where pirate radio is worst, she said the commission began studying this but the bureau’s ability to conduct the sweeps “will remain subject to obtaining new funding through the appropriations process” as well as the end of the pandemic. For the same reasons, the public database doesn’t exist a year after it was supposed to be in place.

By the way, the federal government in these new rules defines pirate radio broadcasting as “the transmission of communications on spectrum frequencies between 535 and 1705 kilohertz, inclusive, or 87.7 and 108 megahertz, inclusive, without a license issued by the commission, but does not include unlicensed operations in compliance with part 15 of title 47, Code of Federal Regulations.” Part 15 allows certain unlicensed operations at very low power levels.

The post FCC Can Use New Pirate Radio Fines Starting April 26 appeared first on Radio World.

Paul McLane

Omnirax Broadcast Intros Work From Home Line

Radio World
4 years 2 months ago

With widespread acceptance that work from home is here to stay for at least some segment of broadcast talent and staff, Omnirax has designed a line of compact models which fit in smaller spaces. The company says these economical, ergonomic, purpose-built Work From Home furniture solutions will help “work from homers” become healthier, happier and more effective.

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

Two models, available in three base options (sitting, standing, motorized adjustable height), two configurations (with or without four-space rack) and three color schemes make this a very customizable option for a variety of broadcast applications.

Pictured is model WFH2-AH, motorized, adjustable height in pumice with optional EchoScape Screens.

Info: https://omnirax.com

 

The post Omnirax Broadcast Intros Work From Home Line appeared first on Radio World.

RW Staff

APM Is Launch Partner for Samsung Podcasts

Radio World
4 years 2 months ago
“Marketplace” is among the shows available on the Samsung Free service.

American Public Media is a publishing partner for the Samsung Podcasts service available in the new “Listen” tab of Samsung Free content/app service.

“Through this partnership, APM audio content is now available on the Samsung Podcasts service, on compatible Galaxy smartphones,” APM said in its announcement.

[Read: Survey Says Podcast Demographics Continue to Diversify]

“Starting today, Samsung Podcasts enables Galaxy users to discover and listen to a huge selection of today’s most popular podcasts, including popular shows from APM’s library, such as ‘Marketplace,’‘Don’t Ask Tig’ and ‘Brains On!’”

Samsung Podcasts are in the new Samsung Free platform, which gives users access to live TV, headlines and games. Samsung Free and Samsung Podcasts are available on compatible Galaxy S21, Galaxy S20, Galaxy Note20, Galaxy S10 and Galaxy Note10 devices.

APM’s Thomas De Napoli, managing director, multiplatform sales strategy & business development, American Public Media, said the move “is an excellent way for us to reach even more young and diverse audiences on a global scale.”

 

The post APM Is Launch Partner for Samsung Podcasts appeared first on Radio World.

RW Staff

In A Sea Of Red, One Radio Company Climbs On Friday

Radio+Television Business Report
4 years 2 months ago

The last Friday of the first quarter of 2021 wasn’t a pretty one for media issues on Wall Street. That said, one radio broadcasting company is swimming against the red tide. On Friday, its shares were on the rise.

That company is Beasley Media Group.

Trading under its Beasley Broadcast Group name, with the ticker symbol of “BBGI,” the owner of radio stations that has invested in eSports — and a Houston Overwatch League franchise — enjoyed a 4-cent gain to $2.89 on Friday.

While that may seem minor, Beasley stock has seen nothing but growth across Q1 2021.

And, as the quarter comes to an end, C-Suite executives can take pride in the improvement.

As shown above, BBGI was priced at $1.63 as 2021 began.

While Beasley shares have a long way to go to return to where they were in 2019, it appears the path has been paved to reach that destination.

Adam Jacobson

MSG Networks Eaten By MSG Entertainment

Radio+Television Business Report
4 years 2 months ago

NEW YORK — Madison Square Garden Entertainment Corp. has struck a deal to acquire MSG Networks in an all-stock, fixed exchange ratio transaction.

The merger is expected to be tax-free for both entities.

MSG is an institution across the Empire State and New York Tri-State Area. It is the home of New York Rangers NHL hockey and New York Knicks NBA games.

Upon the closing of the transaction, MSG Networks stockholders would receive 0.172 shares of MSG Entertainment Class A or Class B common stock for each share of MSG Networks Class A or Class B common stock they own.

The exchange ratio is approximately 4% above the ratio of the unaffected closing stock prices of the two companies on March 10, the last trading day before a press report speculated on a potential transaction.

This transaction, MSG Entertainment says, would create “a leading entertainment and media company with a more diversified revenue base that would be well positioned to deliver innovative experiences across all of its assets. The combined company would have a stronger liquidity position to support its live entertainment business, which following the shutdown of its venues due to the pandemic, is now on a path back to normal operations. In addition, the new company would have enhanced financial flexibility to fund current growth initiatives, including its planned state-of-the-art venue in Las Vegas, MSG Sphere at The Venetian, as well as future opportunities across both entertainment and media.”

With the acquisition of MSG Networks, MSG Entertainment anticipates it would capture more of the emerging revenue opportunity related to the potential expansion of legalized sports gaming in its market. The combination of the companies’ media, digital and venue assets creates a powerful platform for potential sports gaming partners, which is expected to generate significant incremental revenue in the years ahead.

As of December 31, 2020, MSG Entertainment had a federal net operating loss (NOL) of approximately $250 million, primarily due to the temporary shutdown of its venues as a result of COVID-19.

Furthermore, MSG Entertainment expects to accelerate the depreciation of significant components of the capital investment for MSG Sphere in Las Vegas in calendar 2023, which is when the venue is expected to open.

As a result of this transaction, the combined company would be able to more efficiently utilize MSG Entertainment’s existing NOL, as well as future bonus depreciation related to MSG Sphere in Las Vegas, to offset the taxable income of all of its businesses, including MSG Networks, which today is a full state and federal income tax cash payer.

For fiscal year 2020, MSG Networks generated revenue of $685.8 million, operating income of $295.0 million, adjusted operating income of $321.4 million, net cash provided by operating activities of $210.0 million, and free cash flow of $207.2 million.

The media company’s two networks, MSG Network and MSG+, also deliver exclusive live local games of the New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills.

MSG Entertainment’s portfolio features iconic venues, including Madison Square Garden; production assets such as the Radio City Rockettes and the Christmas Spectacular and a majority interest in Tao Group Hospitality.

The definitive agreement was exclusively negotiated and unanimously approved by Special Committees of MSG Entertainment’s and MSG Networks’ boards, both of which are comprised entirely of independent directors. The agreement was also unanimously approved by the Boards of Directors of both MSG Entertainment and MSG Networks.

The transaction, which is also subject to customary closing conditions, is expected to be completed during the third quarter.

Upon the closing of the transaction, a current director of MSG Networks elected by the holders of its Class A common stock would be appointed as a director of MSG Entertainment.

Moelis & Company LLC and The Raine Group are serving as independent financial advisors and Wachtell, Lipton, Rosen & Katz is serving as independent legal counsel to the Special Committee of the Board of Directors of MSG Entertainment. LionTree Advisors LLC and Morgan Stanley & Co. LLC are serving as independent financial advisors and Davis Polk & Wardwell LLP is serving as independent legal counsel to the Special Committee of the Board of Directors of MSG Networks. Debevoise & Plimpton LLP is serving as legal counsel to the Dolan family.

RBR-TVBR

Voice-Enabled Interactive Advertising to Smart TVs? Check This Out

Radio+Television Business Report
4 years 2 months ago

A Scottsdale, Ariz.-based universal control and sensing technologies tech company focused on the smart home has inked a development partnership with a voice dialogue marketing platform powered by AI technology familiar to those in the radio and TV broadcasting industries.

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RBR-TVBR

Cahall Call Dings Discovery on Wall Street

Radio+Television Business Report
4 years 2 months ago

Wells Fargo media analyst Steven Cahall not only gave ViacomCBS a downgrade, which led to a further pummeling of that company’s stock, but presented Discovery Inc. with some bad news of its own.

Cahall’s downgrade of Discovery wasn’t a sucker punch, as he put the company in a better light than ViacomCBS. Still, investors immediately responded by selling off their shares.

The result: A 27.5% day-over-day decrease in value for DISCA resulting in value investors buying in early after-hours trading on Friday.

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Adam Jacobson

iHeart Promotes Latham in Florida

Radio World
4 years 2 months ago

iHeartMedia has promoted Barbara Latham to area president for Central Florida, overseeing the Orlando and Melbourne markets.

She will be responsible for overseeing programming, advertising and operations across its stations in those cities. She will report to Division President Linda Byrd, who had been handling the Space Coast role but now will focus on her division president responsibilities, which now have expanded to include all of Florida.

[Read: iHeart Tabs Paul Rogers to Lead North Florida]

Latham has held leadership positions in Jacksonville, Melbourne and Orlando and most recently was senior vice president of sales for iHeartMedia Orlando.

She began her career as an account executive and sales manager for Hoker/Paxson Broadcasting.

Send news of hires, promotions and job changes to radioworld@futurenet.com.

 

The post iHeart Promotes Latham in Florida appeared first on Radio World.

RW Staff

BBN Adds In New Mexico’s Biggest Market

Radio+Television Business Report
4 years 2 months ago

Since December 1994, New Mexico’s largest market has been home to a commercially licensed FM offering bible teaching and modern worship over its Class C2 signal licensed to the town of Armijo.

Soon, the programming on this station will change, but it will remain committed to serving a Christian audience. And, it will do so under BBN ownership.

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Adam Jacobson

Following Second Analyst Downgrade, ViacomCBS Stock Crashes

Radio+Television Business Report
4 years 2 months ago

At first, it seemed like a reaction to a massive $3 billion equity offering, which was priced following the close of Wednesday trading on the Nasdaq GlobalSelect market. However, there’s more to the story, as one esteemed financial analyst shared Thursday when explaining his downgrade of the company’s stock.

With ViacomCBS shares already tumbling, the bubble burst for the company that saw its shares finish Monday’s trading at more than $100 per share.

With 90 minutes remaining in Friday’s trading session, ViacomCBS’s stock price was down by nearly 56% in just four days.

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Adam Jacobson

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