Industry News

Entercom Communications on Monday launched an audio network that includes broadcast radio stations and its Radio.com platform expressly for the sports gaming community.

It followed the November 2020 closing of Entercom’s all-cash purchase of sports data and iGaming affiliate platform QL Gaming Group (QLGG).

Investors liked the programming move. With 15 minutes remaining in Tuesday’s trading on Wall Street, ETM had climbed to its second-highest value in the last 12 months.

At 3:45pm Eastern, Entercom shares were priced at $4.42, up 18 cents.

Volume was slightly higher than average, at 2.80 million shares.

After an initial drop in value at the Opening Bell, ETM took off like a rocket, reaching $4.46 at 10:26am Eastern.

Trading softened slightly, only to pick up again in mid-afternoon.

As the Closing Bell approached, ETM’s activity increased, as did the slight price fluctuation.

Entercom’s short-term, mid-term and long-term performance outlooks are all “favorable” to Wall Street analysts.

There’s little movement of significance in the latest Spot Ten TV report from Media Monitors.

And, that’s a good thing as it demonstrates the ongoing commitment of several brands to campaigns involving free-to-air television stations.

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“Congress has given the FCC its marching orders, and we are not wasting time.”

Those are the words of acting Chairwoman Jessica Rosenworcel, who released on Tuesday (1/26) the agenda for the Commission’s February Open Meeting.

It will be her first heading the agency.

Taking a cue from her predecessor, Ajit Pai, Rosenworcel released “Notes from the Acting Chairwoman” that follow his lead in offering a preview of what’s to be discussed at the next Open Meeting.

“There are significant tasks for the agency in last month’s new appropriations law,” she said, outlining what will be immediately taken up by the Commission, which presently is comprised of two Democrats and two Republicans. “They include helping Americans afford broadband, expanding access to telehealth technologies, building better maps that reflect where high-speed service is and is not, and improving the safety and security of our nation’s communications.”

Rosenworcel adds that the FCC’s challenge as of today “is to couple Congress’s vision with strategies for successful implementation, so we’re going to hit the ground running.”

And, she adds, “It’s not time to think small—and we can’t afford to act slowly either.”

That’s why I have asked the FCC staff to prepare presentations for the Commission’s February Open Meeting on the plans for each of these tasks.

What’s on deck? Progress on the effort to create an Emergency Broadband Benefit Program, next steps for the agency’s COVID-19 Telehealth program, the work the agency is doing to improve its broadband maps, and two rulemakings seeking comment on security initiatives from Congress are on the agenda.

The EVP/CFO of the Radio Advertising Bureau, the VP/CFO of Graham Media Group, and the VP/Corporate Controller of Hubbard Broadcasting have been chosen to serve as the co-chairs for the Media Financial Management Association’s (MFM’s) 2021 CFO Summit.

Scheduled for March 11-12, this year’s two-day event will be held virtually.

And, it will be led by the RAB’s Van Allen, Graham executive Kimberly Parker, and Paul Yates (pictured), of Hubbard.

Now in its 15th year, MFM’s annual CFO Summit is an opportunity for senior media finance professionals to exchange thought leadership as they discuss issues facing the industry. Interactions with peers and expert speakers also result in real solutions to the challenges that media industry CFOs face daily.

Confirmed topics for 2021 include a look at live events now being constrained by pandemic restrictions, a media-specific economic overview, a deep dive into automotive industry trends, post-pandemic revenue opportunities, and a CFO roundtable.

Most recently he provided brand strategy, consumer insights, and custom market research as a consultant for NBCUniversal, Disney, Crown Media and the Weather Channel.

Before that, he previously spent 14 years directing all programming and marketing analysis for Turner Entertainment Networks as SVP/Research.

Now, he’s the new Chief Research Officer at The E.W. Scripps Company.

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“We have work to do to put consumers first.”

Jessica Rosenworcel made her first remarks as the new acting chairwoman of the Federal Communications Commission via video the commission staff on Monday.

She spoke about supporting “digital equity,” of policies that keep the public “cybersecure,” and keeping media policies current “while also honoring our longstanding values of competition, localism, and diversity.”

Rosenworcel is heading a panel that currently has two Democrats and two Republicans, until such time as the open Democratic seat is filled.

Below is the text of her remarks as provided by her office:

>>>

Good afternoon. It is an absolute honor to address you today as Acting Chairwoman. As you may know, last week President Biden designated me to take the reins of the Federal Communications Commission. I thank the President for the opportunity to lead this great agency at a time when its work is more important than ever before.

The FCC staff is not just uncommonly talented and knowledgeable about communications law and policy, it’s also an exceptional group of public servants. I think public service is a special calling.

I also like to think it runs in my family. I grew up mostly in New England, with pitstops in Southern Illinois and Northern New Jersey along the way. My father served in the Air Force and later went on to a career as a nephrologist in Hartford, Connecticut. For three decades he ran the city’s clinic for hypertension and kidney failure. My mother spent over two decades helping run a soup kitchen. And my grandfather before them served in the United States Customs Service right here in Washington. My great grandfather before that served the public in a different way—he swept the streets of New York.

As some of you may know, as a young lawyer I worked at the agency as staff. I then served in Commissioner Copps’ office before going on to work as counsel to the Senate Committee on Commerce, Science, and Transportation under the leadership of Senator Inouye and later Senator Rockefeller. So when I was first sworn in as a Commissioner, it felt like coming home. Because the fact of the matter is that we are a family here at the FCC, too. We share professional accomplishments. We celebrate life’s events together. We weather uncertain times together. But above all, we work hard together toward the same goal—advancing the public interest.

I know that doing all of this during the last year has been difficult. It seemed like overnight our daily routines pivoted from commuting to the office to working from kitchen tables and living rooms. We’ve all had to adjust to new ways of being that help keep us safe. All of this means many of us haven’t been together in nearly a year and I know I miss seeing you in the halls, grabbing coffee, and convening in our meeting rooms.

At home I find myself navigating this new normal, speaking at a video conference one moment, organizing a call the next, and reading the work of the agency all while also serving as chief Wi-Fi fixer and snack-maker in my household. In other words, I know this time is challenging.

This pandemic is not easy. If this virus has touched you or your family, know that you have my support and the support of the agency. Your safety and security are paramount.

To that end, I want to note that my predecessor did an exemplary job of keeping the agency staff informed and safe. I want to assure you that the existing remote work policies will not be disturbed by this transition.

As difficult as it is, this pandemic has also demonstrated how important our work is at the FCC. Because as a nation we need connections—physical and digital—that strengthen our mutual bonds. We benefit from communications that reach all and help us work, learn, be informed, enlightened, and entertained. And we need connections that can break down barriers that for too long have held too many back.

As if on cue, a new appropriations law has provided this agency with authority to help do just that. Congress directed us to establish an Emergency Broadband Benefit to expand access to high-speed connections and assist those struggling in the ongoing economic crisis. It tasked the agency with expanded support for telehealth and provided funding that will make our networks more powerful and more secure.

These efforts surely will take up time in the next few weeks, but they only scratch the surface. We have work to do to put consumers first. We have work to do to support digital equity, especially in communities that have been overlooked and underserved for too long. We need to advance communications policies that keep the public safe and cybersecure. We have work to do to continue our history-making wireless and auction policies that serve as a global model. We have work to do to build bridges and find common ground with our state, local, and Tribal partners. We have work to do to ensure that our functional equivalency policies live up to our responsibilities under the Americans with Disabilities Act. We have work to do to keep media policies current, while also honoring our longstanding values of competition, localism, and diversity. We have work to do to ensure that all students have the internet access they need for a fair shot at 21st century success, no matter who they are or where they live. And we have work to do to ensure open, reliable, and affordable broadband reaches 100% of this country—rural areas, urban areas, and everything in between.

All of this means every single person at this agency has something to contribute. From the dedicated staff in our field offices to the professionals that keep our agency running in Washington to the attorneys, engineers, and economists that populate our offices and Bureaus, know that your work matters. It makes a difference.

Finally, I’d like to close by recognizing Commissioner Carr, Commissioner Starks and Commissioner Simington. This agency is well-served by these men and their contributions, their interests, and their public service. I look forward to working with each of them in the days ahead.

We have a lot to do. I can’t wait to get started. Thank you.

The post Rosenworcel to Staff: “Put Consumers First” appeared first on Radio World.

He was the co-founder and COO of C3 Metrics, which he launched in May 2008 in Portsmouth, N.H.

Now, Jeff Greenfield, who in June 2020 became a strategic advisor to Overnight Dealer, has joined a media technology company devoted to making it easier to buy and sell advertising.

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It was a story first discussed in a front-page report penned by Meg James in the Sunday edition of the Los Angeles Times.

Now, the entire broadcast TV community is digesting the news that the President of CBS Television Stations and the stations’ SVP of News have been suspended while parent ViacomCBS investigates an increasing number of allegations against them for gender and racial misconduct.

ViacomCBS has suspended the two powerful heads of its TV station group, Peter Dunn and David Friend, amid widening allegations that the pair cultivated an environment that included bullying female managers and blocking efforts to hire and retain Black journalists.

In a statement late Monday, CBS said the two veteran executives were “placed on administrative leave, pending the results of a third-party investigation into issues that include those raised in a recent Los Angeles Times report. CBS is committed to a diverse, inclusive and respectful workplace where all voices are heard, claims are investigated and appropriate action is taken where necessary.”

CBS took action just one day after The Times published an investigation that detailed how senior executives disparaged CBS station employees in Philadelphia, the nation’s fourth-largest media market. Dunn ran the Philadelphia station from 2002 through 2004 before several promotions. For the last 11 years, he has been in charge of CBS’ 28 television stations across the country, including KCBS-TV Channel 2 and KCAL-TV Channel 9 in Los Angeles.

The division has 2,800 employees and provides local news for millions of viewers who live in cities where CBS owns a TV station, including Los Angeles, San Francisco, Dallas, Chicago and New York.

Hours after The Times’ published its investigation Sunday, the National Assn. of Black Journalists met with high-level ViacomCBS executives, including CBS Entertainment Chief Executive George Cheeks and ViacomCBS Executive Vice President Marva Smalls, who oversees the company’s diversity and inclusion efforts. During that meeting, NABJ leaders said they raised other complaints and demanded that CBS fire Dunn and one of his lieutenants, Friend, the senior vice president for news.

In a statement, NABJ criticized CBS’ hiring practices at its flagship TV station, WCBS-TV Channel 2 in New York, saying the station only recently hired a full-time Black male reporter in New York after five years without one. NABJ also said that WCBS has just one full-time Black female reporter and only one Black news producer in New York. In addition to overseeing the entire CBS TV stations chain, Dunn has managed WCBS since 2005.

Cheeks, who took over operations of the legendary broadcasting company last March, sent a note to the CBS staff a little before 7:30 p.m. Pacific time to announce the move, acknowledging that “these have been a difficult few days.”

Cheeks said that CBS Chief Operating Officer Bryon Rubin would assume the leadership of the TV station group on an interim basis. “Bryon is very familiar with your business and ready to support your efforts.”

He also noted the meeting with the NABJ delegation.

“We pledged to continue a dialogue with the NABJ on our best path forward,” Cheeks wrote.

The Times report shed new light on CBS’ $55-million purchase of a small independent television station, WLNY-TV Channel 55 on New York’s Long Island in 2011 — a deal that included a membership in the ultra-exclusive Sebonack Golf Club in Southampton, N.Y. The founder and previous owner of WLNY, entrepreneur Michael Pascucci, threw in a membership at his 300-acre retreat as part of the TV station sale.

CBS said the Sebonack membership belonged to the company but that it was put in Dunn’s name because the club did not have corporate memberships. The company said the membership was used to entertain clients and business partners.

Current and former CBS executives also questioned the thoroughness of CBS’ high-profile 2018 investigation into corporate culture, saying the outside law firms were aware of allegations about Dunn and Friend. The Times review of court filings, CBS’ internal communications and interviews with two dozen current and former CBS television station employees found that many were troubled by the outcome of the investigation and questioned the company’s commitment to cleaning up its culture.

“Senior management at the time addressed the situation with Mr. Dunn, and the company has not received any complaints about his conduct during the period since then,” CBS said last week.

Dunn declined to comment on the allegations.

CBS earlier defended its inclusion efforts at Philadelphia TV station KYW Channel 3, saying 45% of the station’s on-air reporters and anchors are Black, Indigenous or other people of color.

“I believe that I — and our stations — have a strong track record of hiring, supporting and placing women and BIPOC journalists in important roles as anchors, reporters and news directors,” Friend said in an earlier statement. “These comments I may have made about our employees or prospective hires were only based on performance or qualifications — not about anyone’s race or gender.”

Two former senior Philadelphia station executives — Margaret Cronan and Brien Kennedy — told The Times that Dunn made disparaging comments about the station’s popular evening anchor, Ukee Washington, who is a distant cousin to actor Denzel Washington. Among the complaints, Dunn allegedly called Washington “just a jive guy” and criticized Washington’s dancing.

After the report, the Philadelphia Inquirer and the Philadelphia Tribune wrote about the situation. CBS’ KYW also took a stand with sports anchor Don Bell, during the 5 p.m. newscast, calling Washington “our quarterback and the crown jewel of Philly…. The good people at this station reject racism and misogyny in all its forms — no matter where or who it may come from.”

Washington has been a fixture at KYW since the mid-1980s and was elevated to the lead anchor spot when Kennedy, the former general manager, arrived at the station in 2015. Before that, Washington spent 19 years as morning anchor and a decade as sports anchor.

In addition to the comments about Washington, Dunn allegedly refused to approve a contract extension for another Black anchor, Rahel Solomon, a Philadelphia native who served as KYW morning anchor for more than two years. Kennedy, in an interview, said that in a two-plus-hour phone call, Dunn raised “bizarre objections,” such as saying, “I hate her face.”

Solomon left CBS in 2019 for CNBC.

“We are heartened by our discussion with George and Marva that there will be real, substantial and substantive changes at CBS to ensure that it is a welcoming place for Black and other journalists of color to work, rise and succeed,” Roland S. Martin, NABJ Vice President for Digital, said in a statement earlier Monday.

Rewind the clock by a decade, and Leon Black made headlines in RBR+TVBR because of the strong dislike of the billionaire by Sirius XM shareholders. At the 2010 annual shareholders’ meeting, more voted against Black than for him as he sought to remain on the Board of Directors.

Who knew then that the founder of Apollo Global Management, which today has a majority stake in Cox Media Group, would end up emerging as a despised individual who would end up stepping down due to his ties to one of the most infamous American financiers of the modern era?

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On a historical five-year trend chart, Urban One‘s stock performance looks like a hospital patient who flatlined and suddenly received a powerful EKG to revive the heart.

After years of languishing between $1.25 and $3.50 per share, UONE in mid-June 2020 rocketed to $36.30 — only to dip to $3.48 by Sept. 7 — as “Black Lives Matter” protests ignited daytraders eager to capitalize on potential new interest in Urban One’s assets.

Since late September, Urban One shares found a new normal that, while much less in value than that mid-June burst, remains significantly higher than where UONE was one year ago.

Now, UONE is poised to get a further bump in its price — thanks to a big investment by an investment fund focused on media, technology and communications companies.

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