Radio+Television Business Report

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.

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

WASHINGTON, D.C. — The Media Bureau has opened what is formally called MB Docket No. 21-293.

It deals with “Revisions to Political Programming and Record-Keeping Rules,” and it is certainly a topic of interest for every broadcast media C-Suite executive.

The Notice of Proposed Rulemaking proposes to update the Commission’s political programming and recordkeeping rules for broadcast licensees, cable television system operators, Direct Broadcast Satellite (DBS) service providers, and Satellite Digital Audio Radio Service (SDARS) licensees.

“The proposed updates would conform our rules with statutory amendments, increase transparency, and reflect modern campaign practices,” the FCC says.

The NPRM proposes two specific actions.

First, the Commission proposes to revise the definition of “legally qualified candidate for public office” in the Commission’s political programming rules to add the use of social media and creation of a campaign website to the existing list of activities that may be considered in determining whether an individual running as a write-in candidate has made a “substantial showing” of his or her candidacy.

Second, the FCC proposes to revise the Commission’s political recordkeeping rules to conform with the Bipartisan Campaign Reform Act of 2002 (BCRA) 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.

A Comment Date and Reply Comment Date are forthcoming, as they will respectively reflect 30 days and 45 days from the date the NPRM is published in the Federal Register.

On March 6, Audacy stock topped the $6 mark, repeating a feat achieved in early February. All seemed bright for the company formerly known as Entercom, as its stock price had been stuck in the $1.50 range until the 2020 U.S. Presidential Election for months.

Since that early March finish, Audacy shares are down 41% in value. The latest dip comes on reports that its Top 40, or Contemporary Hit Radio (CHR), stations, on Thursday saw a culling of its air personality roster.

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It’s Virginia’s home for public media, headquartered at 23 Sesame Street in Richmond. It rebranded in August 2019 from Community Idea Stations.

Now, VPM is gaining attention again, but for the wrong reason. It’s received a Notice of Apparent Liability for Forfeiture for not making a required public file upload to the Commission’s “OPIF” in a timely manner.

It was also admonished by the Commission.

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The acquisition of three broadcast towers in Norfolk from Com-Ent LLC has closed.

This puts the structures in the hands of an entity that owns or operates more than 1,000 structures across the U.S.

CTI Towers, headed by Tony Peduto, is the buyer, and it will now own tower structures used in the Hampton Roads region of Virginia by Max Media, Hindlin Broadcasting, and Sinclair Communications (not to be confused with Sinclair Broadcast Group).

Michael J. Bergner of Bergner & Co. served as the broker in this transaction. He notes that the towers are “income producing,” and such structures remain in high demand. “I fully expect values to go even higher as 5G services come online,” he notes.

For the second consecutive year, the Radio+Television Business Report is teaming up with Media Staffing Network for an exclusive Sales Compensation Study.

Friday, July 23 is now the final day one can participate by taking the survey.

We know that sales teams have endured many challenges over the past year. What is perhaps the biggest visible change at broadcast TV that Laurie Kahn, CEO for Media Staffing Network, has seen?

Kahn shares her insights, along with why it’s so important for those in TV sales to participate in this study, in this InFOCUS Podcast, presented by dot.FM.

TO TAKE THE SURVEY NOW, PLEASE CLICK HERE!

 

 

Listen to “The InFOCUS Podcast: Laurie Kahn, Media Staffing Network” on Spreaker.

ViacomCBS has completed its leadership transition from Peter Dunn, who led the CBS O&Os until losing his job amid claims gender and racial misconduct, and news division leader David Friend, who was also tied to similar allegations.

As of August 2, there will be a new President of CBS Stations. She will report to President and Co-Head of CBS News and Stations Wendy McMahon.

Who is it? Look no further than the FOX affiliate serving Portland, Ore., which are being sold to Gray Television by Meredith Local Media.

That hasn’t stopped Meredith from naming Roark’s replacement, even as a change in ownership looms.

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It began service in September 1987 with home shopping programming. Its history includes ownership by Paxson Broadcasting, which had hoped to use the property as a flagship for what is today ION Network. It was also earmarked as a New York DMA home for Azteca América some 20 years ago, but the plan collapsed.

Now, this facility using digital Channel 21 is being acquired by the company whose digital multicast network aired on the station from Jan. 4, 2012 until fall 2015: Weigel Broadcasting.

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The individual who will direct the marketing strategies for each of the business units within FOX Entertainment, including the FOX broadcast TV network and free AVOD platform Tubi has been selected.

It’s the man who presently serves as EVP of Marketing for FOX Entertainment.

As such, it’s a promotion for Darren Schillace.

His duties extend to projects from Bento Box, FOX Alternative Entertainment and Blockchain Creative Labs.

But, Schillace’s responsibilities for FOX and Tubi are perhaps the greater focal point of his task list. They include on-air and off-air promotion, brand and program advertising, national media and promotions, digital marketing, strategic partnerships, music, social media, affiliate marketing and production.

He will continue to oversee FOX Entertainment’s strategy for its program development, Newfront and Upfront presentations.

With his expanded purview, Schillace’s direct reports will now include Natalie Bastian, who, as Head of Marketing for Tubi, was recently promoted to Senior Vice President.

The FOX Marketing team will continue to report to Schillace.

Under Schillace’s marketing campaigns, Call Me Kat, starring Mayim Bialik and featuring Leslie Jordan and Swoosie Kurtz in supporting roles, emerged as the pandemic-impacted seasons top new sitcom.

Before joining FOX in 2017, Schillace oversaw all marketing strategies for ABC’s primetime, late-night and daytime programming, spanning on-air promotion, off-network creative, digital marketing, social media, paid media, strategic partnerships and events.

From 2010 to 2012, he was VP of Consumer Marketing for OWN: Oprah Winfrey Network. Before that, Schillace posted his first stint with ABC, where he was VP of Marketing Strategy.

The Pennsylvania State University graduate joined ABC in 2003 from Walt Disney Parks & Resorts, where he handled marketing strategy for EPCOT and Disney’s Animal Kingdom in Orlando. Schillace, who started his career working in production and design at Random House, also worked at a number of advertising agencies, including Ogilvy & Mather and TBWA Chiat/Day.

The affiliate boards of directors of ABC, CBS, FOX Television and NBC will once again meet during NAB Show, scheduled as an in-person event from October 9-13 in Las Vegas.

It’s another sign that the “premier event for broadcasters and the broader media, entertainment and technology industries” isn’t concerned about the Delta variant of the COVID-19 virus or increases in positive virus cases tied to personal decisions not to vaccinate.

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The 2021 NAB Shows marks the 12th year the ABC, CBS, FOX and NBC affiliate boards have met in conjunction with the event.

“The challenging, changing times and events we have all experienced in recent memory have reinforced the critical importance of broadcasting, particularly accurate, trusted, relevant local journalism – and the vital need to not only preserve it, but to see that it thrives now and in the future,” said Mike Meara, President of NPG Broadcasting and chair of the ABC Television Affiliates Association. “NAB Show – with industry leaders and representatives all back live and in-person, and the latest, emerging technology on display – provides the ideal platform to explore how to ensure that happens. The ABC Affiliates look forward to seeing and meeting with one another, with our network partners, and with other broadcasters in Las Vegas in October.”

The CBS Affiliate Board Chair is Patrick McCreery, President of Meredith Local Media Group, which could be finalizing the sale of its television stations by the time the NAB Show commences.

McCreery said, “Broadcasters are excited about the future and are poised to capitalize on the opportunities that lie ahead for our industry. That is why NAB Show is the right venue for the CBS Affiliate Board meeting — it is where industry leaders, innovators and influencers come together to not only reflect on the current state of our businesses but to discuss and lead the charge into the future. The last two years have shown us that local broadcasters and the trusted journalism we provide are essential to our communities, and no other event provides us with the tools, insights and networking to help us reinforce our commitment to serving our audiences.”

Patricia McRae, president of KHQ Inc. and Cowles Montana Media, chairs the FOX Television Affiliate Board of Governors.

Emily Barr, President/CEO of Graham Media Group, is the NBC Affiliate Board of Directors chair.

As previously announced, signature NAB events including the Sales and Management Television Exchange (SMTE), October 8-9, and the Radio Show, will co-locate with NAB Show in Las Vegas for the first time.

With the promise of a large, demographically diverse audience, the Games of the XXXII Olympiad — the pandemic-delayed 2020 Tokyo Olympics — are forecast to bring in record-high advertising revenue.

In fact, Kantar believes the ad dollars will be more than 20% higher than the 2016 Summer Olympics in Rio de Janeiro.

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There will be no blackouts of Spongebob, CBS2 News or BET fare for subscribers of Charter Communications’ Spectrum MVPD services across the U.S. — including New York and Los Angeles.

The continued carriage of ViacomCBS’ portfolio of broadcast, entertainment, news and sports networks on Charter Communications’ Spectrum systems is now assured.

The freshly signed deal between Charter and ViacomCBS, announced Thursday morning, also includes licensing ViacomCBS’s Paramount+, Pluto TV, BET+ and Noggin for future distribution to Spectrum customers.

“We are pleased to have reached a new deal to deliver ViacomCBS’ expansive portfolio of popular brands and premium programming for Spectrum audiences to enjoy, plus greater choice in how they consume our content,” said Ray Hopkins, President of U.S. Network Distribution at ViacomCBS. “Charter is a valued partner, and we look forward to deepening our long-standing relationship.”

Added Tom Montemagno, EVP of Programming Acquisition for Charter, “These comprehensive agreements with ViacomCBS recognize the fast-changing pace of the subscription video business and provide us the flexibilities to adapt for the benefit of our customers while also furthering our strategic interests in the advanced advertising realm and aggregated video store concept with the addition of the streaming apps.”

ViacomCBS and Charter also will expand their existing collaboration around addressable media and advanced advertising.

Others terms of the agreements were not disclosed.

To facilitate regulatory approvals for its approximately $2.825 billion purchase of Meredith Local Media, announced on May 3, Gray Television agreed to divest an ABC affiliate  “to an independent third-party no later than the closing of the Meredith acquisition.”

At the time, RBR+TVBR asked if it was Allen Media Group.

It is now known that this guess was the correct one.

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Pittsburgh Community Broadcasting Corporation, the owner and operator of Adult Alternative WYEP-FM and NPR Member station WESA-FM, has appointed a Vice President of Broadcasting.

It’s an individual who has been associated with the stations for nearly two decades: Mike Sauter.

Terry O’Reilly, President/CEO of Pittsburgh Community Broadcasting, commented, “WYEP and WESA share a common goal: to be leaders in the service they provide in music and journalism, respectively. We’re thrilled to take this next important step for our organization, by placing Mike at the helm of our broadcast operations and programming.”

Sauter joined Pittsburgh Community Broadcasting in 2004 as WYEP’s Program Director. He was promoted to station manager in 2019. He began his career in 1984 in Ithaca, N.Y., and his career includes a run as an air personality at WHTG-FM in Monmouth-Ocean, N.J.