Sony-Apollo May Join the Bidding For Paramount Global

Sony Pictures Entertainment and Apollo Global Management are discussing making a joint bid for Paramount Global according to Reuters citing a person familiar with the matter.

The companies have yet to approach Paramount, which is in exclusive deal talks with Skydance Media, an independent studio led by David Ellison, though some investors have urged Paramount to explore other options.

The competing bid, which is still being structured, would offer cash for all outstanding Paramount shares and take the company private, the source said.

Somy would hold a majority stake in the joint venture and operate the media company, and its library of films, including such classics as "Star Trek," "Mission:Impossible" and "Indiana Jones," and television characters like SpongeBob SquarePants, according to the source.

Sony Pictures Entertainment Chairman Tony Vinciquerra, a veteran media executive with deep experience in film and television, would likely run the studio and take advantage of Sony's marketing and distribution.

Apollo would likely assume control of the CBS broadcast network and its local television stations, because of restrictions on foreign ownership of broadcast stations, the source said. Sony's parent corporation is headquartered in Tokyo.

The New York Times first reported the Sony-Apollo discussions. Paramount and Sony declined comment. Apollo could not be reached for comment.

The private equity firm previously made a $26 billion offer to buy Paramount Global, whose enterprise value at the end of 2023 was about $22.5 billion.

S-F Radio: iHM Promotes Travis Loughran, Dan Hunt

Travis and Dan

iHeartMedia announced Thursday that Dan Hunt has been named Program Director for CHR KYLD (WiLD 94.9) and Travis Loughran has been named Program Director of Hot AC KIOI (Star 101.3) , effective May 15. 

Both will report to Don Parker, SVP/Programming for iHeartMedia San Francisco.

“I’m thrilled to welcome Dan Hunt to WiLD 94.9 and to reward Travis’ hard work and dedication to iHeartMedia/San Francisco with this well-deserved promotion to PD of Star 101.3,” stated Don Parker. “Both have a long track record of success at iHeartMedia, as well as previous programming positions prior to joining the company. I look forward to their leadership of these two iconic San Francisco brands.”

Dan joins the San Francisco cluster from sister WWPW (Power 96.1)/Atlanta, where he most recently served as the Program Director and a member of the CHR Brand Team. Prior to joining iHeartMedia Atlanta, Dan served as the Program Director of WRDW/Philadelphia and WWKX/Providence.

Travis is elevated from the Assistant Program Director position he previously held at both Star 101.3 and WiLD 94.9. His previous experience includes Programming and Creative Production positions at WQHT/New York, Program Director of KBMB/Sacramento and APD/MD of B95 for iHeartMedia Fresno.

Monthly Streaming Costs 22% Higher Since 2021

With the average monthly pricing for total consumer streaming platforms climbing over the past three years -- up 22% -- so has cancellation of streamers, according to MediaPost citing a Horowitz Research study.

The study finds that slightly more than half, at 52%, have canceled or dropped at least one streaming service within the past year.

The major reasons for this “churn” include price hikes and “perceived lack of value for the cost,” according to authors of the study. In addition, Horowitz added, about 30% of those who canceled cited the inability to share password and login information as a determining factor. Looking to the future, 23% of consumers plan to cancel one or more of their streamers in the coming months -- up from 19% in 2023.

Horowitz says the average total monthly price for all consumers streaming platforms is now $60.60 in 2024 -- up from $49.33 in 2021. According to industry estimates, consumers are buying around five or so streaming platforms per month.

To help with lowering their streamers' entertainment cost, 59% of streaming consumers are now more receptive to the idea of subscribing to more streamers with advertising options -- if that means lower overall monthly fees.

For example, the study says, almost one in three streamers who have Netflix now buy the streamer's $6.99/month advertising option.

Fresno Radio: KMJ Receives Multiple Honors

Cumulus Media's News Talk 580/105.9 KMJ in Fresno, CA, was honored at Fresno City Hall Thursday, as Fresno Mayor Jerry Dyer officially declared the day, as "Christopher Gabriel Day," "Christina Musson Day," and "Fresno's Morning News Day." Christopher Gabriel of KMJ Morning News is heard on KMJ weekdays from 6:00am-9:00am. Christina Musson is co-host of Broeske & Musson on KMJ weekdays from 9:00am-11:00am. 

The honors were bestowed upon the KMJ crew in recognition of their service to the community and several awards they have received recently. KMJ's Morning News team - Christopher Gabriel, Liz Kern, Don York and Gabe Navarro - took home a Golden Mike Award for Best Newscast from RTNA Southern California. Christopher Gabriel also won a Golden Mike Award for Best Sportscast. Christina Musson won her second consecutive national Gracie Award from the Alliance for Women in Media Foundation for Best Co-Host, Talk/Personality – Small/Medium Market Radio. 

Photo: KMJ's Christopher Gabriel (holding plaque), daughter Cadence (in green), wife Wendy (in beige) are flanked by Fresno City Councilman Garry Bredefeld (Left), and Fresno Mayor Jerry Dyer (Right).

Concord Chorus Acquires Hipgnosis Songs Fund

Hipgnosis Songs Fund, a company that played a significant role in the music industry’s surge of catalog deals, has agreed to a $1.4 billion takeover by Concord Chorus, a rival company. This acquisition comes after a tumultuous period for Hipgnosis, which saw its share price decline significantly.

Here are some key points about this deal:

• Deal Value: The takeover is valued at $1.402 billion and represents an opportunity for Hipgnosis shareholders to realize their holdings at a premium.
• Background: Hipgnosis Songs Fund had faced challenges, including a failed investors continuation resolution and a partial catalog sale. The company decided not to recommence paying dividends for the foreseeable future as it focused on debt reduction.
• Catalog: Hipgnosis Songs Fund’s catalog includes stakes in songs by artists such as Neil Young, Justin Bieber, Journey, Lindsey Buckingham, Blondie, and Justin Timberlake.
• Management Transition: After the acquisition, Concord is expected to take over the management of Hipgnosis’ assets. Concord has a track record of completing more than 100 transactions across recorded music, music publishing, and theatricals, with a total spending spree of US$2.8 billion since 2015.

This deal marks a significant development in the music industry landscape, and Concord aims to manage the Hipgnosis catalog in the interests of composers and performers.

Radio History: April 19

➦In 1924…A year before the "Grand Ole Opry" hit the airwaves from WSM Radio in Nashville, "The Chicago Barn Dance" aired on WLS Radio in Chicago. The country music show was later renamed "National Barn Dance" and continued on the air – on WLS, simulcast on the ABC Radio Network, simulcast on the NBC Radio Network, back to WLS only, then Chicago's WGN Radio – until 1968.

According to Edgar Bill, the first WLS station manager: "We had so much highbrow music the first week that we thought it would be a good idea to get on some of the old time music.  After we had been going about an hour, we received about 25 telegrams of enthusiastic approval.  It was this response that pushed the Barn Dance!"  Indeed, Sears-Roebuck management was aghast by this "disgraceful low-brow music" that was being broadcast on their new station.  When Bill and Agricultural Director Samuel Guard were confronted by the angry executives, they pointed to the audiences overwhelming approval.

The Barn Dance served two distinct audiences.  It targeted the rural farm audiences as well as city listeners that had come from rural communities or those whom had been told about the "good old times."

In November 1925, WLS claimed to be the first to build an audience studio when it moved to larger quarters on the 6th floor of the Sherman Hotel in downtown Chicago.  The theatre was designed to hold 100 people as well as technical and control room facilities. (WLS History)

National Barn Dance continued for more than two decades on WLS.  WLW Cincinnati became the flagship from 1950-60, and Chicago’s WGN took over as host station from 1960-68.

➦In 1943...'Theater of Romance' anthology debuted on the CBS Radio Network as a filler show between 1943 and 1957. It substituted from time to time for such shows as Gunsmoke, Life with Luigi, Lux Radio Theater, and many others. Producers, directors, and actors changed constantly through the years. Even the locale changed from New York to Los Angeles in 1945.

Romance featured such stars as Henry Fonda, Humphrey Bogart, Gregory Peck, Shirley Temple, and many other Hollywood stars, often binding the story lines with the films in which the stars were currently being featured. The themed stories often revolved around historical fiction as well, and broadcast before a live audience.

➦In 1965..WINS 1010 AM in New York City flipped from Top40 to become the first All-News radio station.  Two months earlier, personality Murray The K departed WINS...

R.I.P.: Dickey Betts, Founding Member Of the Allman Brothers Band

Dickey Betts (1944-2024)

Dickey Betts, co-founding member of The Allman Brothers Band who was responsible for the band’s biggest hit “Ramblin’ Man,” has died at the age of 80.

Betts’ manager told Rolling Stone that the musician passed away on Thursday, April 18th, from cancer and chronic obstructive pulmonary disease.

“The legendary performer, songwriter, bandleader and family patriarch was at his home in Osprey, Florida, surrounded by his family,” they said in a statement. “Dickey was larger than life, and his loss will be felt worldwide. At this difficult time, the family asks for prayers and respect for their privacy in the coming days. More information will be forthcoming at the appropriate time.”

Betts was a co-founding member of The Allman Brothers band alongside brothers Duane and Gregg Allman, Butch Trucks, Jaimoe Johanson, and Berry Oakley. When Duane Allman was killed in a motorcycle crash in 1971, Betts assumed the role of the group’s lead guitarist and also took over more of a singing role. In addition to writing and singing lead on “Ramblin’ Man,” Betts composed beloved instrumentals including “Jessica” and “In Memory of Elizabeth Reed.”

Allman Brothers Band first disbanded due to inner turmoil in 1976. They reformed for a brief four-year run in 1978, before permanently getting back together in 1989. Betts was fired from the band in the late 1990s, reportedly due to issues related to his use of drugs and alcohol. Though his dismissal was initially described as only temporary, Betts filed suit against his former bandmates, leading to his permanent separation.

Betts was later inducted into the Rock and Roll Hall of Fame as a member of The Allman Brothers Band in 1995.

Nielsen Reports Greater Shifts in Viewing Behavior

Nielsen has released The Gauge™ report for March 2024, which revealed that TV usage changes from February to March were very similar to those exhibited in the same interval last year, as seasonality—of both content and viewing behavior—has started to take effect. As such, the 3% drop in overall TV usage in March does not come as a surprise, but a closer look at shifts in viewing behavior over a longer period of time highlights greater changes across the broader media landscape.

While usage fell to some extent across each of the primary viewing categories this month, cable viewing from February to March drove a 0.7-point bump in share, resulting in 28.3% of TV for cable. The cable category was lifted in part by sports, which was up 43% in March, driven largely by college basketball viewership. Games in the women's NCAA tournament had a more meaningful impact on viewership compared with previous years, with the Round 2 matchup between Iowa and West Virginia ranking as the No. 7 cable telecast in March with 4.9 million viewers on ESPN. Also giving cable a boost this month was State of the Union coverage on cable news networks. The March 7 event drew 32.2 million viewers in total (14.1M on cable networks), and six of this month's top 10 cable telecasts were related to it. On a year-over-year basis, the cable category saw a 10% decline and has lost 2.8 share points.

The streaming category also exhibited minimal impact compared with last month, falling just 1% which resulted in a 38.5% share of TV (+0.8 pt.) in March. YouTube ended the month with another record, accounting for 9.7% of total TV usage in March (+0.4 pt.) — the largest share for a streaming service to date in The Gauge. Meanwhile, Netflix climbed to 8.1% of TV (+0.3 pt.), boosted by three of this month's top streaming originals: Love is Blind, The Gentleman, and Avatar: The Last Airbender, which combined for nearly 15 million viewing minutes in the March interval.

Streaming viewership was up 12% this month versus one year ago, and the category has added 4.4 share points (vs. 34.1% in March 2023).

Report: Majority of Fans Listen To Sports Audio Content

Sports audio content has become increasingly popular among fans. According to a recent Sports Audio Report conducted by SiriusXM Media, GroupM, and Edison Research, here are some fascinating insights:

Engagement with Audio Content:

• 89% of sports fans say they frequently or occasionally watch sports content.
• 64% of sports fans say they frequently or occasionally listen to sports content.
• Power of Audio for Sports Fans:
• Audio offers sports fans unique perspectives on sports that aren’t covered in other media.

Sports audio listeners, especially those who listen to podcasts, are spending significantly more time than sports video viewers.

Listening Habits:

Sports fans spend an average of six hours and 26 minutes with audio content each day, which is over two hours more than the average American spends listening to audio.

Whether it’s tuning in to sports podcasts, satellite radio shows, or traditional radio broadcasts, audio provides a dynamic way for fans to stay connected with their favorite sports and leagues. So, whether you’re catching up on game highlights, analysis, or player interviews, sports audio content has you covered!

Open minds: Sports audio listeners, and especially sports podcast listeners, spend more on average per year on sports merchandise than sports video viewers, according to the report. They’re also more likely to say they enjoy hearing or seeing their favorite athletes in ads.

• About two in three (67%) sports audio listeners said they trust the products and services used by the athletes they like.
• A similar share (64%) said they trust the products and services used by sports announcers or commentators they like.

Gap in the market: About one-third (32%) of sports fans said they currently follow a women’s team or a woman athlete, a share that skews higher among Gen Z, millennial, Latino, Black, and Asian fans, according to the report. That’s “solid consumer interest” in women’s sports, Martin Blich, executive director of sports and live investment at GroupM US, said. There are also signs that number could be increasing, per the report, with 29% of fans saying they follow women’s sports or women athletes more now than they did five years ago, including 32% of men surveyed.

TV Rating: Fox News Remains Tops In Cable TV

Nielsen live-plus-same-day data for the week of April 8 saw FNC average 2.094 million total viewers and 247,000 A25-54 viewers during primetime. TV Newser reports the network was up in total viewers by +10% and +12% in the A25-54 demo, relative to the week prior (week beginning April 1).

In total day viewing, Fox News averaged 1.317 million total viewers and 167,000 A25-54 viewers. That’s a gain of +5% in total viewers and +10% in A25-54 from what Fox News averaged in those measurements the week prior. Among all basic cable networks, Fox News took first place in total primetime viewers but remained in 5th place in the primetime demo. In total day, the network held its No. 1 position in total viewers and rose two spots to take second place in the total day demo.

MSNBC’s primetime lineup averaged 1.158 million total viewers and 103,000 viewers from the A25-54 demo for the week. It was up by +8% in total viewers and +17% in the A25-54 demo from what the network averaged the week prior.  CNN averaged 632,000 total primetime viewers and 127,000 A25-54 viewers in primetime for the week. The network saw massive gains from the previous week, up +28% in total viewers and +49% in the A25-54 demo. 

Fox once again had 12 out of the 15 most-watched cable news shows of the week, led by The Five (2.930 million viewers at 5 p.m. ET). The second hour of Deadline: White House with Nicole Wallace was MSNBC’s most-watched program, coming in at No. 8 (1.526 million viewers at 5 p.m. ET). MSNBC took the remaining two spots in the top 15, with the first hour of Deadline: White House at No. 11 (1.481 million viewers at 4 p.m. ET) and The Beat with Ari Melber at No. 13 (1.469 million viewers at 6 p.m. ET).

Gutfeld! Stayed at the top in the Adults 25-54 demo, averaging 304,000 A25-54 viewers at 10 p.m. ET. Fox News had 14 of the top 15 cable news shows in the demo overall, with MSNBC’s The Beat with Ari Melber taking the final spot with 147,000 viewers at 6 p.m. ET.

Fox News Digital Reaches Milestone Performance

FOX News Digital finished the first 1Q 2024 marking twelve consecutive quarters leading news brands with multiplatform minutes, while seeing double-digit year-over-year growth in the category, according to Comscore. 

Meanwhile, CNN saw a 10% decrease with multiplatform minutes year-over-year. FOX News Digital also led news brands with multiplatform views, marking seven consecutive quarters leading this metric and closing out the first quarter reaching 9.8 billion total multiplatform minutes, 4.9 billion multiplatform views, and an average of 111 million monthly total digital multiplatform unique visitors.* 

The FOX News Mobile app averaged 5.8 million unique visitors in the first quarter, leading CNN’s mobile app which saw 5.1 million unique visitors.*

In March, FOX News Digital was the top news brand with both multiplatform views and minutes, marking 37 consecutive months as the leader in multiplatform minutes.* 

During the month, FOX News Digital posted 3.4 billion multiplatform minutes, 1.6 billion multiplatform views and nearly 108 million total digital multiplatform unique visitors.*** 

FOX News Digital also led news brands with average views per visit in March, averaging 2.8 views per visit.

FOX News remained the most engaged brand on social media in the competitive set in the first quarter with 70.3 million total social interactions, notching the 40th consecutive quarter FOX News has placed on top, according to Emplifi. FOX News drove 17.5 million interactions on Facebook, 46.4 million Instagram interactions and 6.4 million X interactions for the quarter. On YouTube, FOX News secured 569.2 million according to Shareablee.

R.I.P.: Brian 'Slacker' Adams, Longtime Kansas City DJ

A voice that was known across Kansas City's airwaves for more than 30 years has been silenced Officials at KCFX 101 The Fox announced Wednesday morning that much-loved radio DJ Brian "Slacker" Adams has died after a battle against cancer.

"Slacker had two great passions, his family, and his time on the air in Kansas City," the radio station said in a post on Facebook. "For over 33 years, the last 16 at 101 The Fox, Slacker loved to entertain his radio audience."

Adams previously announced he was battling AML, or acute myeloid leukemia, a blood and bone marrow cancer. He announced with a "heavy heart" at the end of February that he'd made the decision to retire in conjunction with his family and his doctors.

"I'm still in a battle with cancer," he said in the announcement. "And in order to do my best, I'm going to have to dedicate myself at some point to that mission."

Adams said in that broadcast that the decision to retire was a struggle, adding that it would be his "fervent wish" to stay on the radio forever, but that his body wouldn't allow it.

Wednesday morning's post from 101 the Fox went on to say that Adams championed Veterans with Cars 4 Heroes and many other charities, and that "He pointed out the little absurdities we all deal with, making us laugh at him and ourselves."