Beasley Media Group has entered into a Transaction Support Agreement with key debtholders to restructure its balance sheet, aiming to reduce debt and improve liquidity as financial pressures mount.
The agreement—disclosed late Friday in an SEC filing—has backing from holders representing 98.7% of the company’s first lien notes and 76.5% of its second lien notes due in 2028, paving the way for a broader refinancing plan.
Central to the deal is an exchange offer that would cut the company’s second lien debt in half. Beasley plans to swap existing notes for new 10% senior secured second lien PIK notes due December 31, 2027, at 50 cents on the dollar. The move effectively reduces principal, raises the interest rate slightly, and accelerates repayment by one year. However, about 23.5% of second lien noteholders have yet to agree.
In addition, Beasley is offering to repurchase up to $15.9 million of its first lien notes at par, a step that appears likely to proceed given strong creditor support.
The agreement also gives debtholders increased influence over governance. Beasley will appoint an independent director selected by noteholders to its board, and those investors will later have the right to propose additional board candidates and participate in forming a strategic alternatives committee.
Importantly, the deal requires approval from the newly appointed independent director for major actions, including any potential bankruptcy or insolvency proceedings.
The restructuring effort comes ahead of the company’s full-year 2025 earnings release and follows preliminary financial disclosures that highlight ongoing strain over the past two years.
FCC Commissioner Anna M. Gomez sharply criticized the approval of the Nexstar/TEGNA merger, arguing the decision violated federal ownership limits and lacked transparency, accountability, and a full Commission vote.
Gomez said the FCC’s Media Bureau approved the deal “behind closed doors,” without public input or open deliberation, despite its scale and the novel regulatory issues it raises. She contended that a transaction of this magnitude—one that exceeds the 39% national ownership cap—should have been reviewed by the full Commission in a transparent process.
She warned that the merger will accelerate media consolidation at a time when local journalism is already under pressure. According to Gomez, the deal will concentrate broadcast power among fewer corporations, reduce independent editorial voices, and shift decision-making further away from local communities.
The commissioner also pointed to ongoing newsroom cuts by Nexstar Media Group, arguing that further consolidation will lead to more layoffs and diminished local coverage. She added that larger media companies gain increased negotiating leverage, which can drive up consumer costs through higher fees.
Gomez concluded that the approval will have widespread consequences, resulting in fewer choices, less competition, and higher bills for consumers, while weakening the role of local news in communities nationwide.
A proposed $111 billion merger that would place Warner Bros. Discovery under Paramount Skydance ownership is drawing scrutiny over potential job losses in Hollywood and threats to newsroom independence, as lawmakers raise concerns about the deal’s broader impact.
If completed, the takeover would give the Ellison family control of major media assets including HBO, CNN, CBS News, numerous cable channels, and two historic film studios. Paramount aims to finalize the merger by September following a deal reached last month after Netflix withdrew from negotiations.
At a Friday hearing focused on Los Angeles’ declining film and TV production jobs, concerns centered on both employment and editorial control. Lawmakers, including Sen. Adam Schiff and Rep. Laura Friedman, questioned how the consolidation could affect journalistic independence at CNN and CBS News.
The issue is heightened by the Ellisons’ ties to former President Donald Trump and recent shifts at CBS News under their leadership. Paramount previously paid $16 million to settle a lawsuit from Trump related to a “60 Minutes” interview, a case widely viewed by First Amendment experts as weak.
Since taking control, the Ellisons have already reduced the size and scope of CBS News, while CNN staff are reportedly anticipating similar changes, including shifts in editorial tone.
The Transaction also includes broader governance and strategic implications, with critics warning it could influence not only the future of Los Angeles’ entertainment workforce but also the independence of major U.S. news organizations.
CBS News Radio will shut down at the end of May after 99 years, parent company Paramount Skydance announced Friday, citing economic pressures and shifting audio consumption habits that have made the network unsustainable.
The closure marks the end of one of the most influential institutions in broadcast journalism, as the network—once a proving ground for figures like Edward R. Murrow—has been reduced in recent years to a small, unprofitable operation with only a handful of correspondents, according to a person familiar with the company.
Paramount said the decision reflects changing programming strategies at radio stations and broader industry challenges. In a memo to staff, CBS News leadership said it had become “impossible to continue the service” despite its historic role as the foundation of the organization since 1927.
The decline comes amid growing competition from podcasts and digital audio journalism, including efforts by outlets like The New York Times, which have eroded traditional radio’s prominence. CBS had already begun exiting the radio business in 2016, when it moved to sell 117 stations, while NBC licensed its radio news brand to iHeartMedia that same year.
Even so, radio still reaches 93% of U.S. adults, according to Nielsen, particularly among commuters. Until now, CBS News Radio provided national reporting and short-form updates to roughly 700 affiliate stations across the country, many of which will now need to find alternative sources for news content.
Media observers say the shutdown also signals the fading of a long-standing public service model in broadcasting. Former “60 Minutes” producer Lowell Bergman noted that networks like CBS News Radio were built on an early agreement to provide free, responsible journalism when radio first emerged as a mass medium.
NHL Hockey writer Jessi Pierce, 37, died Saturday in a house fire that also claimed the lives of her three children, prompting an outpouring of grief from across the National Hockey League and the Minnesota sports community.
Pierce, a longtime contributor to NHL.com and a familiar presence at Minnesota Wild games, was remembered by the NHL as a passionate voice for the sport and a valued member of its editorial team for more than a decade.
“The entire National Hockey League family sends our prayers and deepest condolences to the Pierce family,” the league said in a statement. “Jessi loved our game and was a valued member of the NHL.com team for a decade. We will miss her terribly.”
The loss reverberated throughout the hockey world, particularly in the Minneapolis-St. Paul area, where Pierce covered the sport at every level and built lasting relationships with players, coaches and colleagues.
1989-2026
A fixture in the press box at Wild games, Pierce was known for her warmth and approachability, often greeting others with a smile and genuine curiosity. Alongside her work with NHL.com, she also contributed directly to the Wild organization.
“The entire NHL.com team is devastated and heartbroken,” said Bill Price, NHL.com’s editor-in-chief. “Jessi’s love of her family and hockey was evident in the energy and passion she brought to her work. She was an absolute joy to talk to and work with.”
Those who knew Pierce described her as insightful and unafraid to share her perspective, delivering analysis shaped by years of experience covering her hometown team, often with humor.
Nashville Predators coach Andrew Brunette, speaking Sunday, called her death “a tragedy,” recalling her as someone who “loved hockey, loved people” and brought positivity to every interaction.
Beyond her professional life, Pierce frequently spoke with pride about her children and often blended family with her work, occasionally bringing them along to practices.
She was also active across Minnesota’s sports media landscape, co-hosting the “Bardown Beauties” podcast, contributing to other outlets and maintaining a strong presence on social media.
A federal judge has slowed a return-to-work order for employees of the U.S. Agency for Global Media, removing a Sunday deadline that would have required a broad reinstatement of staff and instead mandating a phased return of approximately 70 employees per week.
The ruling, issued Friday night, slows efforts to bring back workers at Voice of America and other USAGM outlets who had previously been placed on leave or otherwise sidelined. The decision introduces a more gradual timeline as the court continues to weigh broader legal challenges surrounding the agency’s employment actions.
The original order had called for a large-scale return of employees by Monday, prompting concerns about the agency’s ability to quickly reintegrate staff and resume full operations. By eliminating that deadline, the judge signaled a need for a more measured approach while the case proceeds.
The U.S. Agency for Global Media oversees federally funded international broadcasters including Voice of America, Radio Free Europe/Radio Liberty, and Radio Free Asia, which provide news coverage to global audiences, often in regions with restricted press freedom.
The case stems from disputes over staffing decisions that critics argue have disrupted the agency’s journalistic mission and weakened its global news output. Supporters of the employees have pushed for swift reinstatement, while the agency has cited operational and administrative constraints.
The phased return order means it could take weeks or longer before the workforce is fully restored, leaving ongoing uncertainty about staffing levels, programming capacity, and the agency’s ability to meet its international broadcasting mandate.
ABC’s abrupt decision to pull the latest season of The Bachelorette has created a costly and high-profile crisis for The Walt Disney Company’s new leadership, exposing both financial and reputational risks. The network now faces tens of millions in potential losses, scrambling to manage advertiser fallout and salvage a franchise central to its reality-TV lineup.
The situation marks an early test for Chief Executive Josh D’Amaro, who just succeeded Bob Iger, and for Dana Walden, who oversees entertainment operations including ABC. Both are now tasked with containing the damage while protecting Disney’s brand image.
The decision to pull the show was made by Debra OConnell, who recently stepped into the newly created role of chairman of Disney Entertainment Television, according to a person familiar with the matter. The move halted a heavily promoted rollout and disrupted existing business arrangements tied to the series.
At the center of the controversy is the inherent risk of reality television, where dramatic storylines can drive viewership but also spiral into reputational challenges. Issues involving the show’s lead, Paul, had already surfaced publicly, particularly her volatile relationship with Dakota Mortensen, which had been featured from the outset on Mormon Wives.
Financially, the stakes are significant. ABC licenses The Bachelor franchise from Warner Bros. Television and had committed roughly $5 million per episode for the upcoming 10-episode season—about $50 million total. If the episodes do not air, the network is expected to absorb that cost. Additionally, advertising firm Guideline estimated the season could have generated up to $35 million in ad revenue.
The network must now rework advertising commitments, shifting brands into other programming and potentially offering additional commercial placements to match expected audience reach. Disney is actively negotiating with advertisers to reallocate those media buys.
Some partners have already backed away. Cinnabon announced it has ended its partnership with The Bachelorette and Secret Lives, despite recently launching promotional products tied to the show.
Meanwhile, those close to the production remain hopeful that further context around Paul’s relationship with Mortensen could shift public perception, potentially allowing the episodes to air at a later date.
OpenAI will begin showing ads to users of the free and Go versions of ChatGPT in the United States within the next few weeks, a company spokesperson told Reuters, as the company looks to expand revenue amid rising costs and competition.
The rollout follows OpenAI’s recent integration of Criteo, an advertising technology firm, into its U.S. ad pilot for those tiers. Criteo said earlier this month it is already working with the company to enable ad buying and improve targeting.
According to The Information, Criteo has been encouraging advertisers to commit between $50,000 and $100,000 in spending. OpenAI has also advised advertisers that providing multiple variations of ad copy and visuals can increase ad frequency and improve performance.
The move into advertising comes as ChatGPT usage continues to surge, prompting OpenAI to seek additional revenue streams while managing the growing costs of computing infrastructure and heightened competition in the generative AI market.
➦In 1910...Paula Winslowe was born Winifred Reyleche (Died at age 87 – March 6, 1996). She was a radio and television actress and is known for her role as Bambi's mother in the 1942 movie Bambi.
Winslowe played the role of Mrs. Martha Conklin in Our Miss Brooks on both radio and television. On radio, she played Peg Riley in The Life of Riley, She was also heard in Silver Theater, Big Town and Broadway Is My Beat.
She briefly portrayed Mrs. Foster on Big Town, which starred Edward G. Robinson. She starred in several episodes of Suspense, including June 14, 1955 ("The Whole Town's Sleeping") written by Ray Bradbury; July 11, 1956 ("Want Ad"); January 24, 1956 ("The Cellar Door"); and June 5, 1956 ("The Twelfth Rose").
➦In 1922...KMJ-AM, Fresno, California signed-on.
KMJ was originally owned by the San Joaquin Light and Power Corporation. It was later acquired by the McClatchy Newspaper Company in 1925. It is also the 38th oldest licensed, and continuously operated radio station in the United States.
KMJ operated on a number of other frequencies between 1925 and 1932; some of the frequencies used included 820 and 1350 kHz.
McClatchy was intent on improving the signal, and competed with KTAB in Oakland for a new frequency (580 kHz), which was being made available by the newly created FCC.
Eventually, they were awarded the new channel, and KMJ moved to 580 kHz in 1932, operating with 1 kW non-directional from a building rooftop in Downtown Fresno.
In 1936, a new 5,000-watt non-directional transmitter site was constructed, which utilized a 5/8 wave antenna, and was located 5 miles east of Fresno, at the northeast corner of the Kings Canyon Road and Fowler Avenue intersection.
The Fresno Bee - April 1940
In 1941, Hammer Field (which later became Fresno Air Terminal) was constructed, as a training base for the Army Air Corps. The KMJ tower was directly in line with the runway, and the Army wanted the site relocated.
The site was then moved some 16 miles west of Fresno, the existing tower was unstacked and moved as well; however, it was only 660 feet in height. The remaining 330 feet were stored on the site, with the intention of creating a directional array, altough World War II interrupted the project and it never resumed.
The extra portion was eventually moved to Sacramento, and used in the construction of the KFBK transmitter site in 1945.
Today, KMJ-AM operates on the regional channel 580, with 50Kw and a directional antenna array.
KMJ 580 AM (50 Kw, DA2) Daytime 2 mV/m contour
From 1925 until 1987, KMJ was owned by McClatchy Company, who also owned KFBK in Sacramento, KBEE in Modesto, KERN in Bakersfield, and KKOH in Reno. McClatchy Newspapers also owned three daily newspapers in Fresno, Sacramento, and Modesto. In 1953, McClatchy signed on KMJ-TV on channel 24. The television station would be sold off in 1981 to become KSEE.
In November 2006, KMJ and its sister stations KFPT (AM), KWYE (FM), KSKS (FM), KFJK (FM), KOQO (FM), and KMGV (FM) were sold by CBS Radio to Peak Broadcasting, for $90 million.
In March 2009, Peak Broadcasting replaced the KFJK Jack FM format on 105.9 FM, with KMJ-FM; it is a partial simulcast of KMJ-AM.
In the fall of 2012, Premiere Radio Networks exercised a termination clause and ended its relationship with both the AM and FM KMJ stations. As of January 1, 2013, all Premiere-controlled syndicated shows were moved to Clear Channel-controlled stations in the greater Fresno area. From 6:00 A.M. until 6:00 P.M., Monday through Friday, KMJ-AM broadcasts all live and local talk shows.
On August 30, 2013, a deal was announced in which Townsquare Media would purchase Peak Broadcasting, and then immediately swap Peak's Fresno stations, including KMJ, to Cumulus Media in exchange for Cumulus' stations in Dubuque, Iowa and Poughkeepsie, New York. The deal is part of Cumulus' acquisition of Dial Global. Peak, Townsquare, and Dial Global are all controlled by Oaktree Capital Management. The sale to Cumulus was completed on November 14, 2013.
Today the station airs a news/talk format.
WEW Chief Engineer Gordon Sherman 1933
➦In 1922...WEW-AM, Saint Louis, Missouri began broadcasting.
Saint Louis University established the station 9YK around 1912, using Morse code to communicate seismological and weather information. George E. Rueppel, assistant director of the Meteorological Observatory at SLU, worked with 9YK before he founded WEW in 1921. Audio transmissions began at 10:05 a.m. on 26 April 1921; the first voice heard was SLU president Rev. William Robison. The station received radio license #560 to broadcast on 618.6 kHz (wavelength 485 meters) as WEW on 23 March 1922; KSD had been licensed on March 8.
The station has claimed to have broadcast the first quiz show, Question Box Hour, in 1923.
The station later moved to 833 kHz (360 meters). In April 1927 it was changed to 1210 kHz then 850 kHz; and changed in 1928 to 760 kHz, which was moved to 770 kHz on 29 March 1941 when NARBA took effect.
On April 28, 2016 the station was granted a Federal Communications Commission construction permit to move to a new transmitter site, increase day power to 10,000 watts and add nighttime operation with 200 watts while still protecting clear-channel station WABC (AM) in New York City.
Today the station is owned by by Birach Broadcasting and airs diverse ethnic programs.
➦In 1938...CBS Radio newsman Christopher Glenn was born (Died at age 68 from liver cancer – October 17, 2006). He was a news journalist who worked in broadcasting for over 45 years and spent the final 35 years of his career at CBS, retiring in 2006 at the age of 68.
Christopher Glenn
Glenn worked at various radio stations in New York, Connecticut, and Washington, D.C. before joining CBS in 1971. He was a narrator for In the News, a long-running Emmy award-winning TV news program geared toward children and young people, which aired between the network's Saturday-morning children's shows. Glenn also appeared on camera as an anchor for the short-lived 30 Minutes, a young people's version of 60 Minutes.
He served as an anchor for two of the CBS Radio Network's signature news roundups carried by affiliates in the United States - The World Tonight (now the CBS World News Roundup Late Edition) from 1988 to 1999, and the morning CBS World News Roundup from 1999 until his retirement. Glenn's final morning broadcast occurred on February 23, 2006.
Glenn made his best-known report on January 28, 1986, when he anchored CBS Radio's live coverage of the launch of the Space Shuttle Challenger. Glenn had just signed off—after what was thought to have been a normal launch—when the shuttle disintegrated, killing the seven astronauts on board. "I had to get back on the air real fast to describe that, and had a very difficult time doing that," he recalled. Glenn and correspondent Frank Mottek (now a reporter at CBS Radio Station KNX) covered the Challenger disaster from that point as a CBS NetAlert bulletin.
➦In 1940...The game show “Truth or Consequences” was first heard on the NBC Radio Network.
Ralph Edwards (left) stated he got the idea for a new radio program from a favorite childhood parlor game, "Forfeits". The show premiered on NBC Radio in March 23, 1940, and was an instant hit with listeners.
Edwards hosted the show from 1940 to 1957 and on television from 1950 to 1954. Other TV hosts were Jack Bailey (1954–1956), Bob Barker (1956–1975), Steve Dunne (1957–58), Bob Hilton (1977–1978) and Larry Anderson (1987–1988). The television show ran on CBS, NBC and also in syndication. The premise of the show was to mix the original quiz element of game shows with wacky stunts.
Truth or Consequences was the first game show to air on broadcast television, airing as a one-time experiment on the first day of New York station WNBT's commercial program schedule on July 1, 1941. However, the series did not appear on TV again until 1950, when the medium had caught on commercially.
In the late 1940s, Hot Springs, New Mexico agreed to host a T or C radio episode, resulting in the community renaming itself to Truth or Consequences; it still continues to use that name today.
AFVN Saigon - 1972
➦In 1973...American Forces Vietnam Network (AFVN) radio and TV signed off permanently after serving the American fighting men and women for many years in Vietnam. During that time over a thousand military personnel served at one of the many in-country sites.
➦In 2008…Big Jack Armstrong died at age 62 in High Point NC. (Born - John Charles Larsh on December 4, 1945). He was also known as Jack Armstrong, Jackson W. Armstrong, and Big Jack Your Leader, was a top-40 disc jockey of the 1960s through the 1980s, and an oldies DJ until 2006.
