Emmis Privatization Offer Off The Table
Emmis Communications Chairman/CEO Jeff Smulyan's plan to take his company private officially lapsed on Friday. The decision by Smulyan effectively puts an end to an effort announced Aug. 18 that would have seen the purchase of all outstanding EMMS shares at $4.10, pending shareholder approval following the acceptance of the plan by a special committee comprised of Peter Lund and Susan Bayh. Smulyan tells RBR + TVBR, "We just could not reach an agreement with the special committee." More …
Rocking M: 'Not A Radio Company'
Rocking M Media last week made its fifth acquisition since its 2007 founding by purchasing a group of stations from Alpha Media. The Manhattan, Kansas-based company sees the stations as "electronic real estate," while president Christopher Miller — a fourth-generation media owner — doesn't consider Rocking M a "radio company." In the first of a two-part interview with RBR + TVBR, Miller shares how Rocking M has grown thanks to AM and FM stations, annual events and online portals. It's why he defines Rocking M as "a business development company." More …
CBS Corp. Splits Radio Numbers Ahead Of Q3 Results
As CBS Corp. prepares to spin off its CBS Radio division, it has adjusted how it reports revenue for its "Local Broadcasting" holdings by separating its radio operations in all quarterly reports dating to Q1 2015. How does CBS Radio look? Slightly down, on a year-to-year basis. More …
Cumulus Stock Sliding After Reverse Split
It may be too soon to sound the alarms, but shares of Cumulus Media have swooned since shareholders last Wednesday approved a 1-for-8 stock split that effectively put shares at $2.60 at the opening bell on October 12. As of Friday's close, CMLS sits at $1.94. More …
Radio One Latest To Set Quarterly Call
The Urban media specialist will host a call with investors, analysts and other interested parties on Thursday, Nov. 3 at 10 a.m. It will be a busy day for media analysts, as CBS Corp. announces its Q3 results at market close, followed by Entravision Communications. Several other companies have set the dates and times that they will release their quarterly earnings reports, and RBR + TVBR has it all for you on one bookmark-and-save page.
Forward Auction To Resume With High Ask Prices
The second stage of the FCC's reverse auction is set to begin Wednesday, with twin two-hour sessions on the schedule until further notice. What's perhaps more noteworthy is where the opening round prices are: Right where they left off in a tepid final Stage 1 bidding session. That could make the lower $54.59 billion target for wireless companies that seek to obtain spectrum from television broadcasters a still difficult dollar amount to clear. More …
FCC Seeks Comment On Post-Auction Pricing
Good news: The FCC intends to use funds from the $1.75 billion TV Broadcaster Relocation Fund to reimburse eligible broadcasters and Multichannel Video Programming Distributors (MVPDs) for post-incentive auction equipment. Here's the slightly bad news: There are a host of price increases for several items. More …
Flood Claims Nebraska Translator For News
In September, the owner of a Nebraska statewide news and information channel agreed to acquire a low-power TV station in Omaha as part of a coverage expansion effort. Now, it's buying a low-power facility in the state capital. Like the September deal, the seller is a religious broadcaster. More …
Intelligence Brief Alternative Inspection Cerfications Made Easy
Alternative FCC Inspector Ken Benner's previous column on alternative inspection certifications drew such a strong response that Benner believes the subject needs to be addressed further. He writes, "Be assured there is no reason why your station(s), with a reasonable degree of professional management and staff dedication, cannot certify following a careful review of the primary items of which the FCC is most concerned with." More …
Beasley Captures A Queen City Translator
In August, Beasley Media Group agreed to place three Charlotte properties it was acquiring as part of its merger with Greater Media in a trust, in order to comply with FCC ownership limits in the Queen City. Now, it's gaining an FM signal that will be used to bring a HD multicast's programming to a greater potential audience. Also in RBR +TVBR's TRANSACTIONS TODAY for Monday, Oct. 17: Wasatch Public Media sells a translator covering SLC. More …
Stocks End Higher, Despite Cumulus Dip
U.S. stocks rose Friday after good financial earnings reports, but ended the week with a loss. As noted in our story above, Cumulus Media has disappointed since Wednesday's 1-for-8 reverse stock split. Radio and Television both posted losses again. The RBR Radio Index fell 5.443, or 0.88%, to 613.138. The TVBR Television Index fell 6.530, or 0.73%, to 885.860. More …
