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Thom Callahan is the President of the Southern California Broadcasters Association. He's been following the discussion about the AM band, specifically the MMTC's letter to the Trump transition team to create a “Glide Path” for the short-term survival and long-term humane decommissioning of the AM band in a manner that preserves minority ownership.

Back in early November, Cumulus CFO John Abbot said, "We have too much debt." He's been on the job for six months and has said Cumulus' debt problem is what he was spending the majority of his time on. Since she took over as CEO, Mary Berner has also stressed the importance of reducing debt. She's repeatedly pointed out that Cumulus' over-levered capital structure was "real and will continue to limit our turnaround potential.” So here's what Cumulus announced on Wednesday to reduce debt and extend debt maturity...

CNBC has a follow-up to its report that SiriusXM was interested in purchasing the company. CNBC's David Faber reported on Wednesday that Pandora is looking at potential acquirers beyond SiriusXM to give it leverage if SiriusXM does pursues a deal. Faber reported last week that the music streaming service was open to selling itself and was willing to engage with SiriusXM. MORE HERE

Republican Congressman Greg Walden and Democratic Congressman John Yarmuth introduced the bill Wednesday. If approved, it would eliminate the FCC's ban on owning a broadcast radio or television station and a newspaper in the same market. NAB President and CEO Gordon Smith was quick to approve the move...

FCC Commissioner Ajit Pai spoke at the Free State Foundation's 10th Anniversary Luncheon this week and did not hold back. Pai has not been a big fan of the current Chairman, Thomas Wheeler, and is being talked about as a possible replacement for Wheeler when he departs the agency, when the Trump administration takes over.

Following the $150,000 purchase of WETN-FM in Wheaton, Illinois, this week, broker George Reed of Media Services Group tells us that Educational Media Foundation is picking up WLFV-FM in Midlothian, VA, and WARV-FM in Petersburg, VA, from Larry Wilson's Alpha Media. EMF will send a check for $2 million to Alpha for the two Virginia FMs. Both stations will flip to the K-Love format.

The Mentoring & Inspiring Women in Radio Group is now taking applications for the 2017 Mildred Carter Mentoring Program. The deadline to apply is Friday, January 6, 2017.

That’s what the Knoxville Country station helped raise, December 5, to benefit victims of the recent Gatlinburg wildfires. An 18-hour on-air/online (#SmokyMtnStrong Radiothon) radiothon raised $315,000 through call-in pledges, and $500,000 over the Net to the My People Fund, in partnership with the Dollywood Foundation.

The two syndicated jocks have kept up their holiday tradition of “Breaking and Entering” people’s homes – but these “home invasions” are about giving, not snatching. Along with their Hoodlum Elves, the pair have delighted folks in markets such as Charlotte, Birmingham, Columbia, NC for more than a decade. But this year it was Albermarle, NC.

The Hollywood Reporter released its (alphabetical) 2016 Women in Entertainment Power 100 list Wednesday and Cumulus CEO Mary Berner is on it. About the radio CEO, the magazine writes, "After surveying her 6,000 employees, she launched a turnaround effort that included handing over control of content to local programmers. The result: 12 consecutive months of ratings increases." Check out the entire list HERE.