Headlines

And that compares to $115 million the company lost in Q1 of 2016. The company says it ended the quarter with $203 million in cash and investments on the books, down from $243.3 million a year earlier. Pandora used $36 million of its cash to operate in Q1 of 2017, compared to $13.1 million in Q1 of 2016. The company projects it will lose another $50 to $65 million in Q2.

Pandora's revenue in Q1 was $316 million. Advertising revenue came in at $223.3 million, compared to $220.3 million in Q1 of 2016. The company said the only-modest year-over-year growth was due to several factors, including reassigning accounts to salespeople after a workforce reduction in January and clients signing contracts later than expected in the quarter.

CEO David Field said his company's merger with CBS Radio is a game changer for Entercom, and the entire radio industry, and he expects the deal to close in the second half of the year, maybe even as early as the third quarter. Giving an update on the merger during his first-quarter earnings call, Monday, Field also said the company has had a significant number of strong offers for the stations that need to be divested in order to complete the merger.

January was the strongest month for Entercom in Q1, February the weakest. Atlanta, Miami, and Milwaukee were the company's best-performing markets. Home furnishings, Telecom, and TV and Cable were the top-performing categories. Total revenue for the quarter came in at $97.5 million, including $300,000 in political, compared to $1 million in political in Q1 2016.

In announcing the official name change Monday, CEO Alfred Liggins said, “More than 35 years ago, we proudly began representing Black culture by lifting our voices boldly, courageously and unapologetically. Urban One’s mission is to enhance and maintain our position as the largest distributor of urban content in the country.”

On Monday, Nielsen announced it has renewed its contract with CBS Radio for its 117 stations in 26 markets. CBS Radio will also use the Nielsen Data Management Platform, a Cloud application which, for the first time, includes using Nielsen Audio data from Nielsen’s PPM to connect with broadcast listeners through digital channels.

The FCC's Chief Information Officer David Bray said the Commission has been dealing with multiple distributed denial-of-service attacks in its Electronic Comment Filing System which have caused delays for consumers who want to file valid comments. The Commission did not specify the problem was caused by Late Night TV host John Oliver who's been pushing his viewers to the site over Chairman Pai's plan to rollback Net Neutrality.

CEO Ed Atsinger said he was quite pleased with the numbers for the quarter, due to the fact in Q1 2016 Salem took in $1.2 million in political revenue and this year only $100,000. Excluding political, Salem's broadcast revenue would have been up slightly. Total revenue for the company was $64.6 million.

The only change to the weekly Media Monitors spot chart was Mattress Firm (29,550) and Boost Mobile (29,44) flipping one spot. The mattress giant was third last week and Boost Mobile moved down to fourth. The Home Depot (50,410) remained number one and GEICO (39,5360) number two. JC Penney rounds out the top five from last week (27,855).

In 2017, not only is Radio Ink celebrating its 25th birthday, our Radio Wayne Awards also turn 25. The Radio Wayne Awards recognize outstanding performance in radio leadership, management, and sales. In 1994, Skip Finley won the Radio Wayne for Broadcaster of the Year and we recently caught up with Finley to discuss the award he won and what he's working on.