Among all the engaging sessions at Forecast 2025, perhaps the most intense unfolded about the critical battle to preserve local news and the vital role of advertiser support as presented by a panel of experts, including NAB CEO Curtis LeGeyt.
ABC News National Correspondent Steven Portnoy, Ad Fontes Media CEO Lou Paskalis, and Stagwell Global Executive Vice Chair David Sable joined LeGeyt in highlighting the urgent need for action to preserve and promote the value of local news.
In the spirit of news, Portnoy opened the panel with the breaking story that South Dakota Senator John Thune had been elected Senate Majority Leader, leading to a brief pre-script from LeGeyt. LeGeyt said Thune will be “a tremendous leader,” and highlighted the instrumental role Sen. Thune has played in advancing broadcasters’ priorities in Washington.
The Senator’s support is particularly impactful on legislative issues important to broadcasters, including the AM Radio for Every Vehicle Act.
The main topic opened with a stark reality: newsrooms across the country are shrinking or shutting down entirely, a problem driven by declining advertising revenue. Paskalis painted a grim picture, saying, “There are thousands of licensed radio and television stations in this country…serving their communities. But a terrible thing is happening…newsrooms are shutting down, and good people are leaving.”
Sable pointed out the systemic problem with funding: “When a brand pauses advertising, it is defunding news. Think about the uncertainty of that.” He emphasized the consequences of this trend, noting that newsrooms increasingly rely on unverified third-party sources due to a lack of resources, further eroding trust in journalism.
One recurring theme was the concept of brand safety, a growing concern among advertisers who fear association with controversial or polarizing news content. Paskalis, who helped establish the first brand safety practice for a Fortune 500 company in 2015, reflected on its unintended consequences: “It’s this many-headed Venus flytrap that eventually eats its owner… that fear has metastasized into an ‘avoid news at all costs’ directive.”
Sable debunked the myth that advertising alongside news is inherently risky, citing research conducted by Stagwell. “Our study proved that there is no problem. It is not an issue… 25% of Americans are news junkies. That’s a huge audience.”
The panelists agreed that local news holds unparalleled trust and relevance, making it a powerful medium for advertisers. Sable highlighted the untapped potential. “Local is underserved and local is powerful. If you want to have people listen to you, you’ve got to be relevant. Being relevant is taking whatever stories there are and making them as local as you can.”
The conversation turned increasingly somber as the panelists discussed the heightened dangers journalists face, particularly due to the rhetoric of politicians who take exception with the mainstream media. Moderator Steven Portnoy described the grim reality: “Some organizations have hired private security guards to escort reporters and crews to political rallies in the United States… It is a dangerous but important job that we do.”
LeGeyt underscored the importance of protecting journalists’ ability to report freely. “The reality here is this is the fight that we need to be waging. None of these issues around competing with Big Tech, around over-regulation, around our innovation are relevant if we don’t have journalists on the ground feeling like they can report the truth, they can hold government to account without fear of retribution.”
“We are always, as a trade association, going to stand on the front lines there ensuring that our journalists across all of our members have that right. Hopefully, we will be able to provide a more favorable regulatory environment so that we can invest in those newsrooms, and give all of you even more resources to put to bear on that, but let’s not overlook some of the rhetoric, how heated it’s become. I’m hoping that with the election behind us, we can tamp it down and we can give all of our journalists an environment where they can do their jobs and feel proud of the work that they do every day,” LeGeyt said to conclude the session.
