Industry News

On October 28, RBR+TVBR first reported that the company founded and led by Jeff Smulyan had earmarked as much as $5.2 million to invest in a long-awaited stock repurchase initiative — one intended to take up to two million Class A Emmis Communications shares out of public hands.

The stock buyback effort fell short of that goal, the company revealed on Monday.

Emmis’ cash tender offer expired at 5pm Eastern on Friday (11/19). And, based on the final count by tender offer depositary Broadridge Inc., a total of 1,027,494 shares of Emmis’ Class A common stock were properly tendered and not withdrawn.

What does this mean? With Class A common stock set by Emmis at a purchase price of $2.60 per share, it will move ahead with the purchase all of the shares tendered for an aggregate price of approximately $2.7 million — excluding fees and expenses relating to the tender offer.

he shares to be purchased represent approximately 8.5% of the issued and outstanding shares of Emmis’ Class A common stock and 7.5% of Emmis’ total issued and outstanding equity, which includes the issued and outstanding shares of Emmis’ Class B common stock.

The shares purchased in the tender offer will be cancelled by Emmis. And, after giving effect to the purchase and cancellation of the shares, Emmis will have 12,601,659 shares of common stock issued and outstanding consisting of 11,105,959 shares of its Class A common stock and 1,495,700 shares of its Class B common stock.

However, Emmis intended to cancel a higher number of shares in the tender offer.

It was the third transaction to involve a “unique” group of low-power TV construction permits, given their construction deadline. And, the deal was first announced in late August.

Now, Ravi Kapur has completed his acquisition of two digital mini-TV facilities from Mako Communications.

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On November 16, some of the radio industry’s biggest leaders gathered in New York to attend Forecast 2022. Little did they know that they were in perhaps the most underrated hub for AM and FM audio consumption in the United States. From Uber to Lyft, from retailer to sundry shop, traditional radio was alive and well. This leads our Editor-in-Chief to exclaim, “Can someone please alert Madison Avenue that New York loves Radio?!” Check out the newly updated Forecast 2022 Photo Gallery by clicking here now!

 

 

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NEW YORK —  Never More Than 2 Minutes of Commercials at a Time.

That was the pledge presented to listeners of the Alternative music station serving the nation’s largest market, implemented in August 2019 — well before COVID-19 and the pandemic led to advertiser cutbacks. And, it was a sign that Audacy Inc., was prepared to address the No. 1 listener complaint at its “ALT”-branded stations: the length of its commercial breaks.

Now, nearly 28 months after the “2 Minute Promise” even got its own hashtag, Audacy has abandoned it. The reason? Rising advertiser demand.

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Telos Alliance is highlighting Version 4.0 of its Omnia.11 software.

The company describes the new version as being cleaner and brighter, saying it “permeates open sound without a loudness penalty.”

Among its features is a new Silvio Clipper that provides “significant” sonic improvements for G-Force users and new presets for various multiple station formats to make the most of the new design.

Founder Frank Foti and Cornelius Gould will discuss these developments in an upcoming webinar on Dec. 1. The presentation will include interviews with users about the release’s capabilities.

The Omnia.11 is available in FM+HD with separate processing paths for FM or HD/DRM and FM without HD/DRM. The FM-only model is upgradeable to FM/HD at a later date.

The post Telos Highlights V4.0 of Omnia.11 Software appeared first on Radio World.

With Black Friday fast approaching, the holiday vibe is in full effect. For one retailer, that means dominating its ad category on both broadcast and cable television, the latest Media Monitors Spot Ten reports show.

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By Steve Newberry
Special to Streamline Publishing

Forecast 2022 was a great event. Seeing friends in person, gathering to hear industry influencers, and sharing ideas with colleagues felt wonderful! It was a slice of normalcy to the broadcast community that we’ve all missed since March of 2020.

While the social aspect of Forecast 2022 felt familiar, the business challenges facing radio and television broadcasters are far from normal. Digital revenue, D.C. policy battles with giant tech companies, the need for diversity and countless other topics are all impacting how we chart our future. In our previous “normal world”, these were seen as daunting obstacles for broadcasting’s future.

For far too long, our industry looked toward the inevitable changes to the media landscape as a looming threat. I’m criticizing myself as much as anyone. I loved how radio worked. I loved the margins. I felt like I had it figured out, and I really didn’t want to have to deal with a long list of new issues like podcasting, streaming, apps, digital sales, competition from the tech companies and…well, the list seemed to go on and on.

However, Forecast 2022 felt like a pivotal point in how broadcasting is approaching the future. Instead of frustration, objection to or denial of the challenges ahead, I heard optimism, strategic thought, and the embracing of new opportunities.

It seems, at long last, broadcasting is embracing the “new normal.”

There was excitement and energy around merging new business and distribution opportunities with our long-established and trusted brands. A realization broadcasters can do more than ever before. A fresh approach to taking traditional over-the-air signals, enhancing our familiar and trusted broadcast products with new delivery paths, and creating rich content. An approach that both deepens the relationships with our listeners/viewers while also creating exciting new revenue opportunities.

Panel after panel presented this new perspective throughout the day. Discussions about business growth, station valuations, diversity and revenue trends ALL had the same general theme. Radio and television broadcasting are strong industries with tremendous legacies of service. However, by embracing a different way of running our businesses, creating compelling content, and serving our communities, the future path is filled with opportunity for enormous reward.

It was great to be in-person at Forecast 2022 with so many colleagues. It felt terrific. But in reflection, what felt best about this year’s event was the sense of how those in the room have pivoted from defending threats to embracing opportunities. Broadcasting’s world is not back to “normal.” Instead, it appears broadcasters are now embracing a “new normal” with enthusiasm and a sense of opportunity.

I’m looking forward to Forecast 2023 and I’m really looking forward to broadcasting’s exciting new future. It will have its challenges, but the opportunities are endless!

Steve Newberry is CEO of Quu Inc. He was previously Executive Vice-President, Industry Affairs and Strategic Planning for the National Association of Broadcasters. He can be reached at snewberry@radioky.com

KIRO(AM)’s Jake and Stacy broadcast their mid-day sports show live from the emergency studio. (Photo courtesy FMEA Region 10 via Twitter)

In the event of a natural disaster or national emergency, Seattle’s KIRO(AM) is prepared to keep the public informed. The Bonneville International station is the latest station to upgrade its emergency broadcasting capabilities as part of the Federal Emergency Management Agency’s National Public Warning System (NPWS).

Based at the station’s Vashon Island, Wash., transmitter site in Puget Sound, the free-standing emergency studio is designed and hardened to withstand natural disasters and acts of terrorism. The upgraded facility was formally dedicated on Nov. 19. As part of the unveiling, KIRO mid-day hosts Jake Heaps and Stacy Rost originated their show live from the new emergency studio.

“It’s an honor for Bonneville Seattle to serve the community and we are proud to partner with FEMA. We share and salute the agency’s commitment to protecting the public,” said Bonneville International President Darrell Brown in a statement released by FEMA. “Radio is a lifeline, and the new studio and continued investment will ensure KIRO-AM 710’s resiliency during times of crisis when communication is vital.”

[Related: “FEMA Celebrates PEP Upgrade at Historic WBZ”]

Maintained under FEMA’s Integrated Public Alert and Warning System (IPAWS), KIRO is a Primary Entry Point (PEP) station — one of 77 across the country. PEP stations are specially designated NPWS broadcast stations that serve as the primary intake source of initial broadcasts for a national alert. Together, the 77 PEP stations provide coverage to 90 percent of the United States.

FEMA equips PEP stations, which are operated by local station personnel, with backup communications equipment and power generators, allowing them to continue broadcasting information to the public during and after an emergency, including conveying official alerts to communities regionally and nationwide.

KIRO is the 14th PEP station to complete the all-hazards upgrade, which included outfitting a hardened shipping container with a full radio studio, a 60-day supply of food and water, and sleeping and bathroom facilities, along with sustainable power-generation capabilities.

The island location of the site is not a problem for emergency readiness, according to Bonneville Seattle General Manager Cathy Cangiano. “The Coast Guard has standing orders to meet members of the KIRO staff at the Seattle waterfront and rush them to the Vashon transmitter site,” Cangiano told MyNorthwest.

Send news of engineering and executive personnel changes to radioworld@futurenet.com.

The post KIRO Unveils Upgraded Emergency Studio appeared first on Radio World.

Hubbard Radio is now a member of RadioDNS, the organization that promotes development of open standards for hybrid radio.

“We’re very much looking forward to supporting Hubbard as they develop their hybrid radio presence,” said RadioDNS Project Director Nick Piggott in the announcement. “They’re already doing some fantastic work with their hybrid radio systems, and contributing to development of new functionality.”

Piggott made the announcement with Jeremy Sinon, VP of digital strategy for Hubbard Radio, who was quoted saying, “As vehicle dashboards continue to evolve we recognize the importance of making sure our stations look as good as they sound. Working with RadioDNS is one of the ways we get there.”

Hubbard Radio is playing a role in the RadioDNS Technical Group.

Other broadcasters that are members of RadioDNS include iHeartMedia, Cumulus, Audacy, Beasley, NPR, Bauer Media, the BBC, ARD and others. RadioDNS also encourages manufacturers and service providers to participate.

[Related: “RadioDNS Welcomes Nielsen’s Gracenote”]

The post Hubbard Is on Board With RadioDNS appeared first on Radio World.

It’s a Class C 1kw AM radio station with an FM translator serving as the ESPN Radio affiliate for East Texas’ key Nielsen Audio-rated market.

Now, the facilities are being sold to a new owner, pending FCC approval of the deal.

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