News

Lazer Broadcasting has named Gerardo Martinez GM for its Sacramento, Modesto, and Merced markets. Prior to joining Lazer, Martinez was the V.P. of Sales and Marketing for EMC Advertising, a law firm marketing advertising agency. Prior to that, he was GM for radio and television stations in several different markets. Lazer owns 29 stations in 13 markets in California and one in Nevada.

Highdive Advertising Founder and Creative Director has been named the chief judge for the 26th Annual Radio Mercury Awards Competition. This past fall, Gross, along with fellow DDB Chicago colleague and Radio Mercury Award winner Chad Broude, founded Highdive Advertising, a new boutique agency in Chicago.

Mitch Galvin (left) is promoted to VP/GM for Radio One Cincinnati and David Glenn Smith. also known as Hurricane Dave. is elevated to Vice President, Programming for Radio One Atlanta.

Doug McIntyre is the host of McIntyre In The Morning on KABC in L.A. He'll continue in that capacity for at least another two years.

Longtime WBAL Baltimore talk show host Allan Prell has passed away at the age of 79. Prell, a two-time Edward R. Murrow award winner, had undergone surgery several months ago. He worked at WBAL from 1982 to the early 2000s.

Cox Media Group in Atlanta has hired Michael Baisden as afternoon drive host on KISS 104.1 FM. He starts January 16. SupeRadio is syndicating the program starting in January. KISS in Atlanta will be the flagship station. An earlier version of this story incorretly stated that Cox would be syndicating the show.

Yesterday's flurry of financial activity and lawsuits all has to do with legacy notes and a disagreement over a Springing Lien. On Tuesday, iHeart announced an independent special committee decided not to repay $57.1 million in legacy notes due on Thursday that are being held by Clear Channel Holdings. iHeart has $725 million in legacy notes.

December 13 sees the tip-off of University of Kentucky hoops coach John Calipari’s new weekly podcast, Cal Cast. The show will feature a variety of topics and high-profile guests from the world of sports, leadership, business, and entertainment. Calipari’s first guest is fellow Naismith Memorial Basketball Hall of Fame inductee Charles Barkley.

In a Tuesday afternoon press release, iHeartMedia announced the company had decided not to repay $57.1 million in senior notes due Thursday, held by Clear Channel Holdings. While $192.9 million of legacy notes held by other holders will be paid in full, the $57.1 million balance held by affiliate CCH will remain outstanding. Here's what CEO Bob Pittman and CFO Richard Bressler told iHeart employees about this decision

Apparently JP Morgan Chase is not happy with Cumulus' plan to refinance. Cumulus says it needs to refinance and it needs to be done quickly, by January 27. In a 21-page lawsuit filed Monday, Cumulus is accusing JP Morgan Chase of thwarting its refinance plan by breaching a 2013 credit agreement and unreasonably withholding consent to the refinance.