News

As the court case began in Texas Monday, a group of iHeart's bondholders made a proposal to the company which includes in the "permitted investment" column iHeartMedia not being able to use Broader Media or CC Finco for future financial transactions, among many other items. iHeartMedia made a counter proposal,

Airing 29,316 commercials on radio stations all over America, Burger King jumped to third on the weekly Media Monitors spot chart behind Home Depot (53,196) and GEICO (43,083), which both held on to their number one and two spots respectively. AutoZone moved to fourth, from 10th, airing 26,597 commercials, and McDonald's was fifth with 26,564. Sprint moved into the eighth position, up from number 79, with a strong week running just under 23,000 ads.

Last year, WOWO Radio in Fort Wayne, Indiana, celebrated 90 years of broadcasting with an on-air documentary and live show featuring present and previous personalities. This week, the radio documentary surrounding the history of WOWO was launched on the WOWO website. It's a seven-part series that kicks off with episode number one focusing on the early years between 1925 and 1940. A new episode will be posted every Monday.

David Goodman is Ace & TJ’s longtime manager. He becomes the CEO and President of the Radio Button Network, which the two Charlotte-based syndicated hosts launched last week.

Reuters is reporting iHeartMedia has brought in restructuring advisory firm Millstein & Company "to help it evaluate options for its debt, including buying some of it back." The company previously brought on investment bank Moelis & Co. as a financial adviser. iHeartmedia has $21 billion in debt. iHeart, then Clear Channel, was taken private for $26.7 billion in 2008. iHeartMedia had no comment about the Millstein & Company report in Reuters.

On Friday The FCC issued a public notice that June 24 is the date radio stations must begin uploading documents to the online public file. This applies to stations in the Top 50 markets with five or more full-time employees. You will not be required to place your political file in the online public file. For all the details, for all stations, check out the FCC's public notice HERE.

The deal values Sirius XM Canada at about $367 million, according to Reuters. SiriusXM Holdings said it expects to pay about $275 million for the transaction, which will increase its stake in Sirius XM Canada to 70 percent from 37 percent, and give it ownership of 30 percent of its voting shares.

(By Stephanie Winans) Twitter was founded in 2006, has 310 million monthly active users today, and is the social media darling of TV. So why is radio still confused about how to use it? I blame the 140-character restriction. It’s scary. Kind of like when Randy Lane tells you that every sentence out of your mouth on the air needs to drive toward your story’s payoff…

The New York Daily News writes up a nice profile on Martinez, highlighting how important she is to the New York City Hip Hop scene. Martinez has a new book out called My Voice. A big part of the News story is the revelation that, in 2012, Martinez decided to jump from Emmis' Hot 97, where she'd been for two decades as "The Voice of New York," to work for iHeartMedia's Power 105.1, about which the News reports "her roster of celebrity fans flew into a frenzy." Martinez, now approaching 50, started out as an intern at Hot 97 at age 18.