Cumulus Will Continue Running The Merlin Stations…For Now
An agreement has been reached between Merlin Media and Cumulus over two Chicago radio stations Cumulus is now operating under an LMA. Cumulus had agreed to buy WLUP-FM and WKQX-FM for $50 million back in 2017. As part of a court-approved agreement Cumulus will no longer be obligated to purchase the stations. Here are all he details.
iHeart Chooses Not To Make Interest Payment
You may recall Cumulus taking similar action back in November 2017, choosing not to make an interest payment of $23.6 million on 7.75% senior notes due 2019. At the end of that month Cumulus filed for Chapter 11 and is now in the middle of restructuring its debt. The $106 million interest payment iHeart is passing on is on junior debt.
Alpha Names Nine Format Captains
Alpha Media Executive VP of Content Scott Mahalick said, “We are always proud to promote from within Alpha. Our Format Captains have been carefully selected based on their experience, format expertise, reliability, and performance. I look forward to seeing great success happen from this collaboration.” Here are the nine broadcasters Alpha has now given a ton more responsibility...
Westwood One Boss Gets Raise
According to an SEC filing Thursday, Cumulus' Executive VP of Corporate Marketing and President of Westwood One, Suzanne Grimes will be paid a salary of $650,000 as of July 1, and her contract has been extended through July of 2020
Alpha Gets Matthews For Dayton Cluster
Alpha Media, Dayton, has named Bo Matthews Operations Manager of the cluster and Content Director of 92.9 Jack FM and 101.5 Hank FM. Most recently, Matthews held the position of SVP of Programming for iHeartMedia in Cincinnati.
Selling The Sizzle
It’s a fact. Some stations have great “numbers,” but unless those numbers translate at the cash register, they may be ringing the wrong ears. That’s because numbers don’t tell the whole story, especially Hispanic radio’s rich and vibrant story. And in small markets or for independent operators, sometimes numbers aren’t even available — or affordable.
Proof Advertisers Love Radio
Our thanks to Centennial Fredericksburg Market Manager Mark Bass for sharing this success story. Mark tells Radio Ink, Modern Ballroom Dancing is a small local business just starting up, training people in ballroom dancing. "Lance Carmine one of Centennial's senior AEs took them through the 'why radio' pitch, and specifically what WBQB-B101.5 could do for them, and they signed."
Kay & Banks Delivering Afternoon News For KXL
FM News 101 KXL/Portland has named Lucinda Kay and Cooper Banks co-hosts for the Afternoon News program, which airs Monday–Friday 4 p.m.-7 p.m. "I am extremely excited to work each day with Cooper and Lucinda. They have the talent that will take KXL to a new level in p.m. drive,” commented Alpha Media Portland Content Director Bruce Collins.
How Much Mobile Revenue Is Radio Getting?
According to BIA/Kelsey, local advertising on mobile devices sold by pure-play mobile providers in 2018 will reach $19 billion. $3.1 billion of that total will go to newspaper, TV, and radio, with radio getting about $104 million of that $3.1 billion pie.
Henderson Hanging Up His Jersey
Jim Henderson “The Voice of the Saints” announced his retirement from WWL in New Orleans, Thursday. Chris Wegmann, SVP & Market Manager at Entercom New Orleans, said, “Jim has been a beloved member of our team at WWL in New Orleans for many years. He made a very complex job look easy and raised the bar for sportscasters everywhere."
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