Radio Broadcasting
NRG-Usher Media Deal Closes: NRG Media has completed the sale of a group of Nebraska radio stations to Usher Media, marking another step in the company's divestiture of assets in the state. The transaction includes KGFW-AM, KQKY-FM, KRNY-FM, and translator K241CN in Kearney; KROR-FM in Hastings; and KSYZ-FM in Grand Island.
NAB Promotes: The National Association of Broadcasters has appointed Carrie Healey as Vice President of Communications. She will report to Michelle Lehman, Chief of Staff and Executive Vice President of Public Affairs. In the role, Healey will serve as NAB's primary spokesperson and lead media relations.
Fire Knocks Stations Off-Air: Eastern Shore Radio “Coastal Country” WESR-AM (1330 AM and FM translator W289CE at 105.7) and adult contemporary “The Shore” WESR-FM (103.3) Onley-Onancock, VA were taken off air Tuesday when a fire destroyed the stations’ transmitter house. The blaze brought fire units from seven nearby communities to the scene and resulted in the loss of the station’s main and auxiliary transmitters.
Media Industry
Judge Delays Nexstar Ruling: A federal judge has postponed a ruling on a temporary injunction in a lawsuit filed by DIRECTV and several state attorneys general challenging Nexstar Media Group's $6.2 billion acquisition of peer broadcaster TEGNA. During a three-hour court hearing on Tuesday, Judge Troy Nunley of the Eastern District of California heard arguments from both sides in the case, with each party claiming they will face staggering business harms if the court rules against their wishes.
UMG Take-Over: Shares of Universal Music Group jumped 12.9% on Tuesday after Bill Ackman’s Pershing Square Capital Management submitted a €55.8 billion ($64.4 billion) takeover bid to acquire the company’s outstanding shares. The proposed cash-and-stock deal, which is expected to close by year end, would see Pershing form a newly merged company with UMG that would list on the New York Stock Exchange.
Broadcasting Giants: The Broadcasting+Cable Hall of Fame is slated to honor 14 honorees as part of its 34th annual class. Stephen A. Smith, Suzanne Scott, and Wolf Blitzer headline the class. Smith is the featured commentator and Executive Producer of ESPN’s First Take. Suzanne Scott has served as the CEO of Fox News and Fox Business Network, Wolf Blitzer has long served as the anchor of The Situation Room on CNN. He originally joined the network in 1990.
U-S News
Back From the Brink: President Donald Trump announced the United States reached a ceasefire with Iran for two weeks after earlier threatening to destroy Iranian energy and transportation infrastructure and wipe out a "whole civilization." The pause came less than two hours before the 8 p.m. ET deadline Trump set for a deal. The agreement, the president said, will be contingent on Iran allowing oil shipments through the Strait of Hormuz, the waterway used to ship much of the world's oil.
Trump Threats: President Donald Trump’s strongly-worded Easter threat to blow up Iranian infrastructure has prominent figures on the right pushing back, further inflaming tensions in his MAGA base over Iran. Former GOP Rep. Marjorie Taylor Greene even suggested Trump should be removed from office under the 25th Amendment to the U.S. Constitution after he doubled down on his threat in another post on Tuesday that said: "a whole civilization will die tonight." Trump has been issuing increasingly dire warnings about the damage he may inflict on Iran, alarming some conservative leaders.
Pump Pain: Oil prices plunged Wednesday after President Donald Trump agreed to suspend attacks on Iran for two weeks in exchange for Tehran allowing safe passage through the Strait of Hormuz. The West Texas Intermediate fell more than 15% to $96.6 per barrel by 2.03 a.m. ET. International benchmark Brent lost more than 14% to $93.9 per barrel. Trump said the two-week ceasefire was subject to Iran agreeing to a complete, immediate and safe opening of the Strait of Hormuz. The U.S. has received a 10-point proposal from Iran that is a workable basis for negotiations, he said.