Good Morning! Let's Check The Pulse for Thursday, March 12

Radio Broadcasting

Revenue Forecasts and Industry Stability: Analysts from Kagan project modest radio revenue gains in 2026, driven by local advertising and political spending (e.g., midterm elections), offsetting declines in national/network ads—keeping overall growth mostly flat

Salem Media Group swung to a net loss of $34.6 million in 2025, reversing net income of $16.2 million in 2024, as the Christian and conservative multimedia company absorbed heavy impairment charges on its broadcast assets amid declining revenue.

iHeartMedia announced the lineup for the 2026 iHeartRadio Music Awards (airing March 26 on FOX), featuring performances by Alex Warren, Lainey Wilson, Ludacris (hosting and receiving the Landmark Award), RAYE, TLC, En Vogue, Salt-N-Pepa, and more; Miley Cyrus gets the Innovator Award. This highlights radio's role in music promotion and events amid streaming competition.

Media Industry

Paramount Skydance-Warner Bros. Discovery Merger Fallout: The massive $111+ billion acquisition of Warner Bros. Discovery by Paramount Skydance (which closed or advanced significantly in recent weeks) continues to generate concern in Hollywood and media circles.

• Fears of massive layoffs persist, with executives targeting $6 billion in "synergies" (cost cuts) through redundancies, despite public assurances that major workforce reductions can be avoided.
• Plans to merge Paramount+ and HBO Max into a single streaming platform are progressing, aiming for over 200 million combined subscribers to better compete with Netflix. This follows earlier rounds of cuts at both companies post their respective mergers.
• Industry observers note this as part of a broader "re-bundling" trend in media, with overlapping teams in news (e.g., CNN and CBS News potentially staying separate brands but facing efficiencies), film production, and streaming facing scrutiny.

U-S News

Ongoing US-Israel War on Iran: The conflict remains the leading story, with heavy US and Israeli strikes on Iranian targets continuing. Reports highlight:

• Intense bombing campaigns, including accusations of civilian site damage (e.g., nearly 10,000 sites hit per Iranian claims) and a controversial strike on a girls' school in Minab that killed around 175 people, mostly children, with evidence pointing to US responsibility (though President Trump has denied knowledge or downplayed it).
• Iran retaliating with missile/drone attacks on Israel, neighboring countries (including Qatar, UAE, Lebanon), and ships in the Strait of Hormuz, a critical oil chokepoint. This has disrupted 20% of global oil flows.

Gasoline Prices Surge: Gasoline prices have spiked significantly due to the Middle East conflict's impact on crude oil markets (prices in the mid-$70s to higher per barrel, with some reports of spikes toward $90+ earlier in the week).

• The national average for regular unleaded gasoline is around $3.58–$3.60 per gallon as of March 12, 2026 (per AAA data), up sharply from earlier in the month (e.g., jumps of 25–27 cents in recent weeks, with some weekly increases of 15–16%).
• This marks a reversal from lower prices earlier in 2026 (e.g., around $2.80–$3.00 in January/February), driven by supply fears from Strait of Hormuz attacks and broader energy market volatility.
• Analysts note this is fueling inflation concerns, with diesel and other fuels also rising.