Industry News

It seems Townsquare Media shareholders are thrilled over the news that it is repurchasing at least 10 million of the 12.5 million shares of Class A and Class B common stock — and warrants — held by funds managed by Oaktree Capital Management L.P.

With Thursday’s Closing Bell on Wall Street, TSQ finished at its best closing price in nearly one year.

On volume of 149,564 shares against an average of 26,296 shares, Townsquare shares surged by 6% to $9.33.

It was the week of Feb. 17, 2020, when TSQ was last at that level.

And, it caps a big comeback for Townsquare, which saw its stock slump to just below $4 and remain in the $4 range through October. On November 2, TSQ finally climbed past $5. It’s been on the increase ever since.

TSQ bears a one-year target price of $13.33.

MIAMI — First, it was called ¡Levántate! – literally, Get Up! Then, it took on a new name and look under the name Un Nuevo Día, a change that brought a “new day” to Telemundo’s network morning program.

Now, NBC Universal Telemundo Enterprises is hitting the reboot button again as it struggles to gain audience against Univision’s long-running Despierta América.

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For years, broadcast media leaders have been taking swipes at digital media’s encroachment and poaching of local advertiser after local advertiser.

Even with negative press and continued questions regarding metrics, Facebook is the platform consumers and marketers simply can’t ignore.

That’s why a new report from Pivotal Research Group Senior Research Analyst of Internet and Media Michael Levine is so noteworthy. It’s not the Q4 2020 results Facebook shared that’s worth a gander.

Rather, it’s what Facebook’s first-half revenue projections for 2021 are that’s truly eye-opening.

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As noted Wall Street analyst Craig Moffett of MoffettNathanson sees it, “the really sexy growth stories right now are in streaming media.”

And, when it comes to Comcast‘s growth stories, the 33 million new Peacock subscribers seen since its launch six months ago is certainly worthy of all of the media’s attention.

What’s perhaps more noteworthy, yet rarely discussed, is the success Comcast is having with Flex.

What, exactly is Flex?

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WASHINGTON, D.C. – The National Association of Broadcasters (NAB) today announced the creation of an advisory committee to the NAB Board of Directors that will provide insights and suggestions on diversity, equity and inclusion (DEI) issues.

The committee will consist of senior-level broadcasters who are women and people of color, and may include current NAB and NAB Leadership Foundation (NABLF) board members who are committed to advancing DEI issues in broadcasting.

The DEI Advisory Committee will assess the broadcast radio and television industries’ diversity and inclusion efforts and advise NAB and NABLF boards on strategies, initiatives and partnerships to increase the effectiveness of these efforts. The committee will also support NAB staff advocacy efforts at the Federal Communications Commission and in Congress on diversity-related issues. In addition, the committee will identify a diverse group of industry experts on various topics for NAB conferences and speaking engagements.

“NAB is committed to ensuring diverse voices are represented in radio and television broadcasting and that every employee has the opportunity to excel in their career,” said NABLF President and NAB Chief Diversity Officer Michelle Duke. “This new committee will help NAB continue moving diversity and equity forward, and provide guidance for the broadcast community in creating a more inclusive workplace.”

In summer 2020, NABLF created the Diversity, Equity and Inclusion Resource Center, a website dedicated to helping media companies and industry professionals create and sustain a diverse and inclusive workplace. NAB is also advocating for congressional passage of a tax certificate program that would provide a financial incentive to those who sell their majority interest in a broadcast station to minorities.

DEI Advisory Committee members will serve a two-year term with one opportunity to renew. They will participate in NAB’s board development training designed to enhance board leadership skills and prepare committee members to become successful directors.

The inaugural members of the DEI Advisory Committee are:

Sandy Breland
Senior Vice President, Local Media
Gray Television

Trila Bumstead
Owner
Ohana Media Group

Caroline Chambers
Senior Director, Diversity
Graham Media Group

Alysia Cox
VP and Associate General Counsel, Regulatory
Cox Media Group

Estevan Gonzales
General Manager/Owner
KSWV RadioCorey Hanson
General Manager
WALA – Mobile, AL
Meredith Local Media Group

Michele Laven – Chair
Chief Diversity Officer/Chief Human Resources Officer
iHeartMedia DuJuan McCoy
Owner, President & CEO
Circle City BroadcastingHeidi Raphael
Chief Communications Officer
Beasley Media Group

Oscar Rodriguez
President
Texas Association of Broadcasters

Sharon Tinsley
President
Alabama Association of Broadcasters

Grady Tripp
Chief Diversity Officer
Tegna

Joel Vilmenay
General Manager
WDSU – New Orleans, LA
Hearst Television

Graham Media Group, the television broadcasting company that owns such stations as WDIV-4 in Detroit and WKMG-6 in Orlando, has upped its Associate General Counsel to Deputy General Counsel.

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French media regulator CSA announced this month that the national DAB+ broadcast authorization across France will become effective on July 15, essentially setting the earliest day by which national broadcasters in France can go on air.

According to a WorldDAB summary of the CSA announcement, the first stage of the national broadcasts is set to cover highways in mainland France (often referred to as “metropolitan France” in French), starting with highways between the country’s two largest cities, Paris and Marseille, crossing Lyon.

A total of two multiplexes are set to launch in France in the summer of 2021, hosting 12 and 13 stations respectively. The 25 broadcasters that have been selected to broadcast nationally on DAB+ have already been determined, and include the six Radio France national radio stations.

WorldDAB said the CSA’s DAB+ rollout plan, the nodes and arcs strategy, which also includes continued regional rollouts alongside the launch of national services, aims to bring population coverage in France up to 40% by the end of 2022.

The post France Edges Closer to National DAB+ Launch appeared first on Radio World.

With Bill Hendrich‘s retirement at the end of 2020, Cox Media Group needed to select a new leader to oversee its collection of AM and FM radio stations.

On Thursday, CMG, today majority-owned by Apollo Global Management, revealed just who will be assuming Hendrich’s former duties.

While Hendrich held the title of Executive VP of Radio, his day-to-day duties are being passed on to Rob Babin, who takes the title of SVP/Radio.

Babin rises from the role of VP/Market Manager for Cox Media Group’s Atlanta and Athens, Ga., stations.

“We are so excited that Rob accepted this role on the CMG leadership team,” said Dan York, who assumed President/CEO duties at CMG following the exit of Kim Guthrie in May 2020. “He is a proven leader with a true passion for the radio, CMG and his people. Rob is a collaborative and agile executive, with deep industry and CMG expertise and passion for everything he does – making him the ideal leader for CMG Radio.”

Specifically, Babin will be responsible for the profitability, strategic direction and operational execution of CMG’s radio platform, comprised of 65 radio stations in 11 markets including Jacksonville, Orlando, Tampa-St. Petersburg and Miami-Fort Lauderdale in Florida; Tulsa; Dayton; and its home market of Atlanta.

CMG says Babin will also focus heavily “on achieving CMG’s Radio strategic growth objectives while maintaining CMG’s industry leading content, impactful community engagement, and growth-focused culture.”

Babin is a Cox Radio veteran, and has served as a regional VP overseeing Miami, Houston, Tampa-St. Petersburg, San Antonio and New York’s Long Island (Nassau-Suffolk).

He’s also served as GSM and Director of Sales for CMG’s Atlanta quartet, comprised of WSB-AM, WSB-FM, WALR and WSRV “97.1 The River.”

“Over the past 20 years, I’ve had the opportunity to work alongside many exceptional individuals and teams across CMG,” said Babin. “I am thrilled to accept this position and honored to lead our CMG radio team. With our company’s incredible strength, brands, and people, we will continue to excel and grow our radio business to new heights.”

Babin is currently a board member of the Georgia Association of Broadcasters and the Radio Advertising Bureau.

KNXR-FM in Rochester, Minn. is the top-rated station in the market, ranked No. 217 by Nielsen Audio.

It’s a 100kw boomer, and the crown jewel in a 19-station operation focused on Southern Minnesota owned by Lynn Ketelsen and John Linder’s Blooming Prairie Farm & Radio.

How has this Classic Hits station branded as “Minnesota 97.5” managed to stay live and local from 6am-7pm, and keep both local and national advertising buys flowing some 11 1/2 months into the COVID-19 pandemic?

Station Operations Manager and morning co-host Lou Kastler shares the details in this fresh InFOCUS Podcast, presented by DOT.FM.

Listen to “The InFOCUS Podcast: Lou Kastler, KNXR-FM” on Spreaker.

From Radio World’s Who’s Buying What page: UK-based streaming platform SharpStream said British Forces Broadcasting Service chose its Timbre production suite to manage and deliver audio content, including listen again, catchup and on-demand material as well as the “Sitrep” podcast.

Timbre is a new media management and streaming production suite. In addition to hosting and streaming, the company says, it has an interface that allows broadcasters and podcasters to automatically record, publish, distribute and monetize content, and analyze results.

[See Our Who’s Buying What Page]

“IAB-compliant analytics give customers the ability to accurately value their audience for monetization,” the company states. “Its multiuser environment gives broadcasters the ability to create custom roles and approval workflows. Timbre comes with unlimited podcasts/feeds/playlists and a 99.9% SLA.”

Anthony Woodley is digital projects manager at BFBS, which brings UK TV, sport and music to armed forces worldwide.

Send news for Who’s Buying What coverage to radioworld@futurenet.com.

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