Headlines

CFO Rich Bressler (pictured) and Senior Vice President and Treasurer Brian Coleman reported to investors that iHeartMedia's total debt remains at $20.7 billion. That's basically the same as the final debt total at the end of 2015. The company has $979 million on hand and the largest use of cash in Q1 was interest on the company's debt. iHeartMedia paid $549 million in interest.

Great news coming out of radio's #18 market. Interim CEO and Executive VP/CFO Caroline Beasley (pictured) told investors the revenue at the company's Tampa cluster was up over 30%, while the entire market was up 12%.

Entercom Kansas City sports talkers Danny Parkins and Carrington Harrison of KCSP-AM were slightly unhappy that their hometown Kansas City Chiefs picked Tyreek Hill in the recent NFL draft. Last year, Hill pleaded guilty to punching and choking his pregnant girlfriend and received three years probation for the crime. Parkins and Harrison chose the power of radio -- and the loyalty of a radio audience -- to turn what they believed was a negative into a very big positive.

CBS Boston has the details about long-time WBZ traffic reporter Scott Eck who will now be known as Kristen Eck after announcing the gender transition on Wednesday. “This has been a journey of sorts that I’ve been on for the last 40 years of my life."

The Christian and conservative focused media company reported a total of $64.6 Million in Q1. Total revenue increased 4.4% while broadcast revenue increased 4.2% to $48.5 million from $46.5 million.

The shift to the Internet continues in a big way, both for consumers and advertisers. Advertising Firm Magna Global buys advertising for big brands such Johnson & Johnson, Coca-Cola and Fiat Chrysler Automobiles. The company announced Wednesday that it will spend at least $250 million between October 2016 and December 2017 on Google Preferred, which offers premium advertising space on YouTube. Magna says that money will come from budgets originally planned for TV. More details HERE at The Wall Street Journal.

Syndicated host and financial expert Dave Ramsey will keynote the 2016 Radio Show this September. Ramsey’s address will include a conversation with country music star John Rich (of Big & Rich) and will be held Wednesday, September 21 at the Omni Hotel. The Radio Show, produced by the RAB and NAB, is being held September 21-23 in Nashville.

The Current is reporting that the board of directors of non-com KUSP in Santa Cruz, California, is recommending a sale of the station’s license. According to the report, KUSP’s entire staff of about five full-time employees will be laid off this week, and on Sunday the station will change formats to an automated Triple A format. The station website says KUSP needed to raise $300,000 to stay afloat but only came up with about $100,000.

Entercom Upstate, which launched 96.3 The Block last October, is expanding its coverage to Spartanburg and can now also be heard on 104.5 FM. The Block features Steve Harvey in the Morning and a Hip Hop/R&B format. The station also features a late-night radio show promoting local artists.