Judge Denies CBS' Request For Restraining Order

UPDATE 1:15 PM 5/17/18:  A Delaware judge has denied CBS’ request for a temporary restraining order to bar controlling shareholder Shari Redstone from blocking a planned vote today by the CBS board of directors on a move that would dilute Redstone’s voting power in the company.

According to Variety, Delaware Chancery Court Chancellor Andre Bouchard issued his ruling Thursday just before noon. CBS vowed to proceed with its plan to hold the board vote at 5 p.m. ET today. CBS shares plunged more than 6% after the judge’s ruling hit. CBS is also scheduled to hold its regularly scheduled annual shareholders meeting on Friday — which will surely be an awkward affair given the corporate infighting.

“We are pleased by the court’s decision to deny CBS and its special committee’s unprecedented motion to try to deprive a shareholder of its fundamental voting rights,” a spokeswoman for National Amusements said.

“The court’s ruling today represents a vindication of National Amusements’ right to protect its interests.  As we intend to demonstrate as the case proceeds, the actions of CBS and its special committee amount to a grievous breach of fiduciary duties and show no regard for the significant risk posed to CBS and its investors.”

Earlier Posting...

A Delaware Chancery Court judge put a brief pause Wednesday on the legal battle between CBS and Shari Redstone. Following a hearing, Chancellor Andre Bouchard promised to issue a ruling before a special meeting of the CBS board, which is set to be held on Thursday afternoon. He also granted a restraining order that will temporarily freeze the case in place until then.

According to Variety, news of the judge’s limited decision landed just minutes before CBS held its annual upfront presentation for advertisers at Carnegie Hall. The bulk of CBS’ executive team was gathered at Carnegie Hall and were energized by the decision. Moonves got a standing ovation as he came out for his opening remarks.

Les Moonves

“So how’s your week been?” he deadpanned.

The legal war erupted on Monday when CBS Corp. filed a lawsuit against National Amusements, Inc. (NAI) accusing it and Shari Redstone of breaching its fiduciary duty to CBS shareholders by pushing for the merger of CBS Corp. and Viacom, the media conglom that NAI also controls. CBS has been cool to the merger on strategic grounds, given Viacom’s weaknesses.

The sides are squaring off over CBS Corp.’s request for a temporary restraining order barring NAI from replacing CBS board members, or making changes to the company’s charter and bylaws before a judge can weigh in on the merits of CBS’ suit. As part of the legal maneuver, CBS has proposed that board members vote on a plan to issue a special stock dividend that would have the effect of diluting NAI’s voting shares from 79.5% to about 17%.

The unusual case could have profound consequences, according to The NYPost.

If CBS prevails and dilutes Redstone’s interest, the removal of controlling interest could put the company in play.

If Redstone manages to block CBS’ planned move, her already-challenged relationship with CBS management would likely become irreparable.

iHeartMedia Analytics Launch

iHeartMedia today announced iHeartMedia Analytics, the first fully-digital attribution service for broadcast radio that will transform the way advertisers plan, buy and measure their audio campaigns to better optimize the unparalleled reach of radio. 

Radio is the No. 1 mass reach medium reaching 93 percent of the U.S. population and engaging consumers longer than even the largest digital platforms.  Radio has the highest consumer engagement of any major medium, and now it can offer that impact for advertisers who need digital-like targeting and attribution data. By leveraging the data from iHeartRadio’s digital ecosystem, iHeartMedia will enable broadcast radio to measure and show results in the same way as digital media, giving advertisers easy access to state-of-the-art campaign performance insights.

Brian Kaminsky

These new capabilities will allow advertisers to track audience reach, branding metrics and even sales outcomes for iHeartMedia radio ad campaigns in real-time by using data science to fuse information about its digital audience, with broadcast ad logs, on-air programming and commercial content. Advertisers will also have the ability to measure a radio campaign’s impact on a brand’s website visitation, social media engagement, physical foot traffic and more.

“We continue to see advertisers spend money on less effective mediums simply because they provide a perceived level of measurability and accountability,” said Brian Kaminsky, President of Revenue Operations and Insights for iHeartMedia.

“Now marketers will be able to capitalize on the unmatched scale and reach of iHeartMedia’s more than 270 million monthly broadcast listeners, and receive the same kind of innovative real-time measurements, insights and custom reporting they are accustomed to getting from digital media, quantifying the full power of radio -- in addition they can get attribution information that is missing from most of the digital marketplace.”

iHeartMedia Analytics is part of the company’s ongoing focus to assist brands and marketers in targeting consumers across it’s quarter of a billion monthly broadcast listeners.

Digital Listening Continues to Impact Key Radio Listening Locations

In Jacobs Media’s Techsurvey 2018 – their 14th annual online mega-survey of radio listeners – a big story continues to emerge with the continued changes taking place in radio’s traditional listening locations – the home, the car, and the workplace. From Pandora, Spotify, and SiriusXM satellite radio, to the emergence of Amazon Alexa and smart speakers, the traditional patterns of media usage and radio listening are rapidly changing.

The media habits of 14 format core audiences, along with five generations, are examined in this largest ever survey of radio listeners. From Boomers to Millennials, different patterns of consumption are emerging, providing radio broadcasters with the tools they need to map out game plans and strategies.

The survey was conducted in early 2018 between January 16 and February 26. Stakeholder stations participated in a webinar on April 30, and the results of the study will be released over the next few months.

A free webinar -- “10 Key Takeaways from Techsurvey 2018” -- is scheduled for Thursday, May 24th at 2pm ET. Registration info is here.

As Jacobs Media President Fred Jacobs points out, “We are continuing to see increasing digital platform usage for all forms of audio, particularly the emergence of Amazon’s Alexa, Google Home and the rise of smart speakers, whose ownership has nearly doubled in just one year.”

Techsurvey 2018 provides two different “pyramids” for stakeholder stations. The “Media Pyramid” contains broad categories, including smartphone and tablet ownership, audio and video streaming, as well as voice-command smart speakers like the Amazon Echo.

The “Brand Pyramid” continues to provide fascinating usage information about big brands that include Netflix, Instagram, Pandora, and Hulu.

Paul Jacobs, Jacobs Media General Manager, continues, “In addition to the boom in smart speaker penetration, many forms of digital media, including podcasting, satellite radio, streaming audio and streaming video all show increases in the number of regular users year-over-year.”

More than nine in ten respondents spend at least one hour a day with radio and/or television, the foundation of this pyramid.

This year’s Media Pyramid is below:

Other highlights include:

• Fewer are using in-home radios. Those with regular radios they use in the home now sits at 83% and is markedly lower among Millennials (68%). Devices like smart speakers (Amazon Alexa, Google Home, etc.) and smart TVs are increasingly replacing regular radio usage in the home.
• Smart speaker penetration explodes. In the span of just over two years since their availability, smart speakers are now owned by more than one in five (21%) respondents, up from 11% just one year ago. And for many owners of these devices, their use of music and spoken word programming from broadcast radio stations is increasing.
• AM/FM radio, it’s free & easy. Consumers continue to love broadcast radio for the music, personalities, and emotional drivers, such as companionship and mood elevation. However, nearly seven in ten (69%) say the fact it is easiest to listen to in the car is a main reason they enjoy listening to the radio (the most mentioned response among the choices presented), while six in ten (60%) say a main reason for listening is that it’s a free service.
• Mobile devices are in more hands than ever. Smartphone ownership increases to nine in ten respondents (90%), while tablet ownership now reaches 70%.
• Radio’s digital platforms are rapidly growing. While 70% of consumption to the average station in TS 2018 takes place on “regular radios,” 27% of usage is now occurring via digital platforms -- computer streams, mobile apps, smart speakers and podcasts -- up sharply from 22% this time last year. Among Millennials, 31% of their listening is via digital platforms (vs. 65% on a regular radio).
• AM/FM radio dominates at-work audio consumption. More than half of those who say they listen to any audio while working report frequently listening to AM/FM on a regular radio in the workplace (54%). An additional 23% listen to AM/FM streams on a computer/laptop, while 21% say they stream AM/FM radio stations on a mobile device such as a smartphone or tablet. To a lesser degree, frequent workplace listening is to personal music (23%), Pandora (17%), SiriusXM (11%), and Spotify (10%).
• Weekly podcast listening approaches one in four. Listening to podcasts on a weekly basis or more often is now 23%, up slightly from 21% one year ago. About three-fourths of regular podcast users (74%) listen on a smartphone, followed by fewer than half on a desktop/laptop computer (44%). Music (42%) and radio shows that previously aired (39%) are the top podcast categories regularly listened to among weekly podcast users.

This year’s Brand Pyramid provides data points that help broadcasters get more granular with their audiences, identifying the key media brands they use. For each of the brands and platforms, this pyramid shows weekly usage (with the exception of AM/FM radio which is one hour/day or more, SiriusXM which is based on subscribership/free trial, and Shazam which is based on those downloading the app).

Here are some of the highlights from this year’s Brand Pyramid:

• Facebook remains the dominant social media platform. Nearly three-fourths (74%) use Facebook weekly or more. Both Instagram and Snapchat, while firmly behind Facebook in overall social media usage, show healthy growth.
• Streaming video brands see large gains. More than half now use Netflix on a weekly basis (52%), up sharply in the past year (41% in last year’s study). Amazon Prime Video and Hulu also show large spikes in weekly usage, at 24% and 19% respectively.
• Streaming audio brands are mostly flat. One-fourth (25%) listen to Pandora on a weekly basis, flat in the last year after having seen a drop in weekly usage the previous two years. iHeartRadio remains flat at 18% year to year, while Spotify is only up incrementally (now 13% vs. 12% one year ago).

Both the Media and Brand pyramids are available by format, gender, and generation, making them useful tools in better understanding how radio listeners are expanding their horizons.

This year’s survey covers key areas of interest to all media brands, including actionable information about connected and autonomous cars, social media usage, mobile devices and apps, audio and video streaming, and other key topics.

U-K Radio: Digital Now More Popular Than FM and AM

Radio research body Rajar said 50.9% of all listening in the UK was digital in the first three months of the year, according to the BBC.

That's up from 47.2% a year ago and marks the first time digital has accounted for more than half of radio listening.

It means the government is now likely to consider whether it needs to review the future of FM radio.

However, it seems unlikely that the analogue network will be switched off in the foreseeable future.

There are still plenty of black spots for the main digital system, DAB, while about one third of listening by young people is now via phones, which means the development of 5G technology could again transform the industry.

The BBC has said it is fully committed to digital, but that switching off FM in the next few years would be premature.

The government has previously indicated it would undertake a review to assess digital radio progress and determine the next steps once more than half of listeners were consuming radio on digital platforms.

Overall, digital listening hours grew by 7.8% compared to Q1 2017. The greatest amount of digital listening takes place on a DAB radio which now accounts for 36.8% of all listening and 72.2% of digital listening, with hourly growth of 8.9% year on year. Online and Apps now accounts for 9.3% of all listening and 18.3% of digital listening, with the greatest percentage hourly growth of 17%. Listening via digital TV meanwhile accounts 4.8% of all listening and 9.4% of digital listening.

63.7% of adults now have access to DAB digital radio at home, plus millions more are listening via the expanding range of smart and voice-controlled speakers. Additionally digital radio is in over 11 million cars on the road, equating to 33% of all cars in the UK, and 90% of all new cars registered have digital radio fitted as standard.

When Weather Is Bad, Radio Is At Its Best

The fall of 2017 was one of the most active Atlantic hurricane seasons on record, and in places like Puerto Rico, which experienced immense damage from multiple storms, the recovery and rebuilding process continues today.

In Puerto Rico, which is a Nielsen diary market, the just-released winter 2018 survey reveals a rise in listening to news-formatted radio stations as a result of last year’s tumultuous weather.

Nielsen’s fall 2017 survey was not conducted after measurement operations were suspended following Hurricane Maria’s landfall on Sept 20, 2017. As infrastructure recovery has progressed, however, Nielsen has been able to resume surveying on the island.

As detailed in the chart, which combines all of the news-formatted radio stations Nielsen measures in Puerto Rico (16 of them carrying the News/Talk format and another five broadcasting Spanish News/Talk), tune-in across Puerto Rico spiked significantly during the winter survey when compared against previous survey periods.

This mirrors the patterns we observed in both Texas and Florida, where audiences tuned into the radio for news and information during such a disruptive hurricane season.

During the September portable people meter (PPM) survey, Hurricane Harvey made landfall in Texas (on Aug. 25); just two weeks later, Hurricane Irma came ashore in Florida (on Sept. 10).

These two storms affected nine different major markets. While each one was unique, there is a common thread of tune-in to local news radio stations increasing dramatically during the week those storms arrived. Regardless of evacuations, flooding, or power outages, the reach of local news radio stations spiked during the specific week those hurricanes rumbled into town.

PPMs Day 3: Portland OR, Orlando, Las Vegas, 9 Other Markets

Nielsen on Wednesday 5/16/18 released the third batch of April 2018 PPMs results.  They included the following markets:

22  Portland OR

24  Charlotte-Gastonia-Rock Hill NC


26  San Antonio

27  Sacramento

28  Pittsburgh

29  Salt Lake City-Ogden-Provo UT

30  Las Vegas

31  Orlando

32  Cincinnati

34  Cleveland

35  Kansas City

36  Columbus OH

Click Here for Topline numbers for subscribing Nielsen stations.

Lachlan Murdoch To Be New Fox CEO

Lachlan Murdoch

Lachlan Murdoch, a son of 21st Century Fox Executive Chairman Rupert Murdoch, has been named chairman and CEO of New Fox, which will launch after 21st Century Fox sells a considerable amount of its TV and entertainment holdings to Walt Disney Co.

“We have worked through the winter ‘standing up’ a reimagined independent Fox. The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities,” said Lachlan Murdoch, 46.

John Nallen, who currently serves as chief financial officer of 21st Century Fox, will move into the role of chief operating officer of New Fox, while Rupert Murdoch will serve as co-chairman of the new company.

The Hill reports the news comes five months after Disney announced plans to acquire most of 21st Century Fox’s assets for $52.4 billion, a deal that does not include Fox News, Fox Business Network, Fox Sports 1 or 2, the Big Ten Network or the Fox broadcasting network and stations.

The buyout does include Fox television channels including FX and Nat Geo, among others. Fox's film and entertainment franchises, which include "The Simpsons," “X-Men” and "Avatar,” will be owned by Disney.

Federal regulators still need to approve the deal.

Denver Radio: iHM Promotes Any Griesheimer To Area President

Amy Griesheimer

iHeartMedia announced Wednesday that Amy Griesheimer has been named Area President for the Denver Region.

As Area President, Griesheimer will work with the programming and sales teams for radio brands in Fort Collins; Colorado Springs; Ogallala, Nebraska; and Cheyenne, Wyoming to oversee on- air and digital programming as well as create new business and revenue opportunities. She will work closely with the iHeartMedia Denver Senior Vice President of Sales, Ryan Clune, and Senior Vice President of Programming, JoJo Turnbeaugh, as well as Colorado Springs Market President, Samantha Kumm. Griesheimer will report to Tim Hager, President for iHeartMedia’s Denver Region and will be based in Fort Collins.

“Amy has a proven track record of leading and growing successful teams, and cultivating new and existing relationships,” said Hager. “Her passion, energy and skills are an ideal match for iHeartMedia’s Denver Region. We’re fortunate to have Amy at the helm of our strong brands in these markets.”

Griesheimer is an industry veteran who brings 29 years of broadcast radio experience to her new role. Her extensive background includes a variety of Vice President, Director of Sales, General Manager and Market Manager positions at stations in Denver, Seattle and Madison, Wisconsin.

“I am thrilled and honored to be joining the largest media company in the nation,” said Griesheimer. “iHeartMedia’s tremendous platform in the Rocky Mountain region is unmatched. I am anxious to work with the talented team there and continue developing great marketing solutions with many of the advertisers I have worked with through the years.”

Senate OKs Bill To Retain Net Neutrality

The U.S. Senate voted on Wednesday in favor of keeping open-internet rules in a bid to overturn the Federal Communications Commission decision to repeal net neutrality rules, but the measure is unlikely to be approved by the House of Representatives or the White House.

According to Reuters, the 52 to 47 vote margin in the Senate was larger than expected with three Republicans — John Kennedy, Lisa Murkowski and Susan Collins — voting with 47 Democrats and two independents to reverse the Trump administration’s action.

Democrats used a law that allows Congress to reverse regulatory actions by a simple majority vote but it is not clear if the U.S. House of Representatives will vote at all on the measure, while the White House has said it opposed repealing the December FCC order.

The FCC in December repealed rules set under Democratic President Barack Obama that barred internet service providers from blocking or slowing access to content or charging consumers more for certain content.

Representative Mike Doyle, a Democrat, said he would launch an effort on Thursday to try to force a House vote and needs the backing of at least two dozen Republicans. He said Democrats would try to make it a campaign issue if Republicans will not allow a vote.

The 2015 rules were intended to ensure a free and open internet, give consumers equal access to Web content and bar broadband service providers from favoring their own material or others’.  The new December 2017 rules require internet providers to tell consumers whether they will block or slow content or offer paid “fast lanes.”

FCC Chairman Ajit Pai called the vote disappointing but added that “ultimately, I’m confident that their effort to reinstate heavy-handed government regulation of the Internet will fail.” Pai said the his approach “will deliver better, faster, and cheaper Internet access and more broadband competition to the American people.”

Last week, the FCC said the net neutrality rules would expire on June 11 and that the new regulations approved in December, handing providers broad new power over how consumers can access the internet, would take effect.

You Tube Music Service Relaunches Next Week

YouTube Music is relaunching its subscription service on Tuesday, which will be available as an ad-supported (i.e. free) model and as a Premium model for $9.99 per month, with various bundle options for other Google services.

Variety reports YouTube Music will have its own “reimagined” mobile app and desktop player and will eventually replace Google Play Music and the music component of YouTube Red (although the latter paid service will continue separate from YouTube Music as YouTube Premium, for $12 per month). According to the announcement, YouTube Music will include thousands of playlists, the official versions of millions of songs, albums, artist radio and more, in addition to music videos.

The new YouTube Music will initially roll out in five territories — the U.S., Mexico, South Korea, Australia and New Zealand — with 13 European countries and Canada to follow at an unspecified later date.

YouTube remains the No. 1 streaming service for music globally, although most of its 1.5 billion monthly users listen and watch videos for free. Spotify is the No. 1 paid streaming service with around 75 million subscribers, and Apple Music recently passed the 50 million mark.

"Roseanne's" John Goodman Voices New ABC News Promo

"Roseanne" star John Goodman is featured as the voice of a new on-air brand campaign for ABC News released Tuesday at the network's presentation to advertisers held each May in New York.

“Your mom said ‘comb your hair.’ Your dad told you ‘smarten up.’ Your dog is judging you right now, and your best friend just called you crazy. We all need someone who will pull no punches and give it to us straight,” Goodman, 65, narrates in the 30-second promo.

“Now imagine getting your news like that," he continued. "No bull, no spin. Just give it to me straight. Straightforward news. Straight to the heart of the story. ABC News. Straightforward.”


ABC has recently seen an overall improvement on the ratings front largely due to the "Roseanne" revival that premiered to an audience of 18 million on March 27, the highest viewership for any network comedy since 2014. "Roseanne" still ranks as the top-rated entertainment program.

ABC has finished in third or fourth place the past few seasons in the key 25-54 demographic, but is tied with CBS and Fox for second place behind NBC this season in that coveted demographic.

WWO Goes Backstage At BBMAs

Westwood One Backstage at the BBMAs will take place at the MGM Grand in Las Vegas on Saturday, May 19 from 12 noon – 4:00 pm PT.

More than 25 stations will participate on site and major radio groups -- including Entercom and Cox Media -- will feed content from the radio row remote to their stations across the country, covering 46 of the top 50 markets.

Ralphie Aversa from WPLJ-FM/NY and WPRO/Providence will be hosting content online and on Cumulus station websites. Recording artist Kim Petras will kick off Radio Row festivities on Friday night, followed by a performance by Noah Cyrus and MAX. Loote will perform Saturday morning and Daughtry will take the stage late Saturday, in a performance emceed by Enrique Iglesias, capping off a fun-filled day of artists and activations. 

In addition to the backstage activations, Westwood One has five hours of BBMAs Night of Event Coverage on Sunday, May 20, 7:00 pm to Midnight ET. Jayde Donovan, host of Westwood One’s nationally-syndicated Jayde and co-host of WPLJ-FM’s Todd & Jayde in the Morning, will host the red carpet coverage; Adam Bomb and The Bert Show’s Kristin Klingshirn will host the Hot AC/AC Format version; and Zach Sang Show will host the Top 40/Rhythmic Format version.

The 2018 Billboard Music Awards will broadcast live from the MGM Grand on Sunday, May 20th at 8:00 pm ET / 5: 00 pm PT on NBC. The event is being hosted by Kelly Clarkson and will feature live performances from two-time Billboard Music Award winner John Legend, Jennifer Lopez, Ed Sheeran, and other artists; in addition to historic duets featuring Salt –N-Pepa and En Vogue, Christina Aguilera and Demi Lovato, and Macklemore and Kesha; a performance of “The Middle” with Zedd, Maren Morris, and Grey; plus a performance from this year’s Billboard Music Awards Icon recipient, Janet Jackson.

#WWOBackstage #BBMAs @TheBBMAs

May 17 Radio History

➦In 1903...comic actor Artie Auerbach was born in New York City.  He became famous as “Mr. Kitzel”, first on the Al Pearce radio show in 1937, then as a regular on Jack Benny‘s radio & television shows for 12 years. He suffered a fatal heart attack Oct. 3, 1957 and died at age 54.

➦In 1938...the Radio quiz show "Information Please!" premiered on the NBC Blue Network.



Information Please was one of the most popular radio shows in the 1930s and 1940s. Oscar Levant, Franklin P. Adams and John Kieran were regulars with Clifton Fadiman acting as host. RKO produced a series a films of the radio show and most of them have been lost.

➦In 1939...nearly 1800 fans crowded into the Glen Island Casino in New Rochelle, New York to attend an unusual dual-network dance remote radio broadcast of the suddenly very popular Glenn Miller and His Orchestra that was aired on both NBC and Mutual.

➦In 1943...The Jack Kirkwood Show made its NBC debut, after 5 years locally on San Francisco radio.  A very funny man, Kirkwood would eventually become second-banana on the Bob Hope radio show, and continue with his own various network radio features through early 1953.

➦In 1971...In the NYC Market, Country WJRZ 970 AM became Top40 WWDJ..The station was hampered by a directional signal that covered Manhattan and parts of New Jersey well but suffered in the rest of the Five Boroughs and was virtually nonexistent on Long Island and western New Jersey. Eventually, FM competition from WCBS-FM and adult top 40 station WXLO (now WEPN-FM), and an evolution to adult Top 40 by WNBC (now WFAN), began to eat into WWDJ's ratings.



In November 1973 it was ranked 15th in the Arbitron ratings.WWDJ changed format to Religious on April 1, 1974.

➦In 1984...radio station CFRB journalist and broadcaster Gordon Sinclair died after a heart attack, at age 83.

➦In 2004...actor Tony Randall, who began in radio as “Reggie” on I Love a Mystery, then starred in TV’s Mr. Peepers & The Odd Couple, and was an entertaining guest on hundreds of TV talk shows, died of pneumonia following heart surgery at age 84.

➦In 2006...NYC and Philadelphia radio personality Long John Wade died at the age of 66.

From the early '70s, listen for a Wade audio clip on 56 WFIL in Philly at the :30-second time mark:

"Long John" was, in reality, Carl Wehde. He worked at WDRC 1360 AM in Hartford, just before coming to WFIL. It was there that Long John worked with another WFIL Boss Jock, Jim Nettleton. Jim did 10 am to 1 pm and Long John did afternoon drive.

Long John wasn't an original 56WFIL Boss Jock when the station flipped format in September of 1966.

However, by Thanksgiving of that same year, Wade had replaced Frank Kingston Smith on the 2 to 6 am overnight shift. He then moved to the 10 pm to 2 am time slot where he became a Philly fixture. He stayed with the station for five years.

Wade said that he got the nickname "Long John" because of his height (6 foot, 4 inches tall). He could always reach the top shelf in the record library.

In August of 1964, the WDRC's PD sent him on tour with the Beatles. Only two U.S. radio people were on the entire Beatles tour, Larry Kane and Long John Wade.

It cost WDRC five grand, in expenses, to have Long John join the whole tour. The station turned that money into a profit when they sold Wade's reports to 11 other radio stations. Long John reported that the young weren't the only ones that loved the Beatles. He said, "I saw newsmen picking up the cigarette butts discarded by Ringo, or an old coffee cup that Paul used."

Wade said that during his stay at WDRC, he was consistenly drawing a 50 percent share in a market of 16 stations. One out of every two radio listeners were tuning in his program.

Long John became radio’s Beatles information expert. He developed a personal friendship with each of the group. The tempermental John Lennon, it has been reported, once punched Long John for asking an impertinent question. The two remained close for years, with John Lennon inviting Wade to join himself and Yoko Ono for their infamous bed-in in May of 1969 at the Queen Elizabeth Hotel in Montreal.

Of the Beatles, Long John Wade once said: “Personally, I would say John Lennon is the ‘thinker.’ Ringo is the funniest, Paul the friendliest, and George is the quiet one.”

Before his WFIL days, Long John worked at these stations in Massachusetts (some while attending Boston University): WHIL, Medford; WAAB, Worcester; WHAV, Haverhill; WORL, Boston; WTAO, Boston; WSPR, Springfield (where he used the name "Johnny Midnight.") During his prep school days, he ran the campus radio station in New Hampton, NH.

Long John had later stops at WIFI and WCAU in Philadelphia (he did morning drive on FM and then had a talk show on AM). Then, we went to WCBS-FM in New York City.

In 1979, Wade was diagnosed with a bi-polar disorder and left the business he loved so much.

Long John Wade suffered a stroke in 1996 which left him with speech problems. He also lost the total use of his right hand. He battled bad health for a decade.

Long John had two brothers, Tom Wehde and Don (known as Don Wade on the air). The late Don and his wife, Roma, former co-host the morning show on WLS-AM Chicago.

Redstone Calls CBS Action 'Egregiously Overboard'

UPDATE 5/16/18 1:15 PM:  Shari Redstone is firing back at CBS Corp. after the media company moved to strip her family of voting control.

CBS said in a lawsuit this week that it wants to prevent Ms. Redstone and her family’s holding company, National Amusements Inc., from overhauling CBS’s board and forcing a merger of CBS and its sister media company Viacom Inc.

The Redstones and National Amusements responded Wednesday in a legal filing, saying they had no such intentions. They called CBS’s attempts to issue new voting shares to dilute their nearly 80% voting control “egregiously overboard and unjustified.

According to The Wall Street Journal, they also argue that CBS would have other options legally that wouldn’t require diluting the Redstones’ voting interest, including challenging the removal of any director.

“This is an unprecedented usurpation of a controlling stockholder’s voting power,” National Amusements’ lawyers wrote.

The documents filed by the Redstones were in opposition to the motion for a temporary restraining order that CBS’s special committee of independent board members filed on Monday.

Earlier Posting...

Les Moonves, CEO of CBS, privately concedes that his fight to wrest control of the broadcast outfit from Shari Redstone could end with its sale to another player in the rapidly evolving media business, FOX Business has learned.

Insiders at CBS say a priority is achieving victory over Shari and her father, Sumner, who own a controlling stake through their holding company, National Amusements Inc. But these same insiders say Moonves is well aware of the challenges CBS will face as an independent company, given its relatively small size compared with the likes of Comcast, or if the courts allow, the proposed combination of AT&T and Time Warner.

With that in mind, Moonves will be open to a merger or being sold if the price is right. “Les knows what’s happening in the media industry,” said one CBS insider. “And he knows if he prevails here he could be sold.”

On Wednesday, a Delaware Chancery Court judge will hear arguments from CBS, which filed an unusual and explosive lawsuit earlier this week against the Redstones to dilute their controlling stake. The suit came after a contentious round of negotiations in which Shari Redstone was looking to merge CBS with the other media company the family controls, the ailing Viacom unit of National Amusements. Moonves has balked over price and her management demands.

Pittman Pay Included $9M In Bonuses During 2017

The Wall Street Journal is reporting iHeartMedia Inc. Chief Executive Robert Pittman collected more than $14 million in the 12 months leading up to the bankruptcy of the company.

In bonus pay alone, Pittman collected more in 2017 than he had received in total compensation as iHeart’s CEO since 2011, according to new bankruptcy court papers and Securities and Exchange Commission filings.

In 2017, iHM had to pay $1.4 billion in cash interest on its debt, putting a significant strain on revenue of $3.6 billion. In 2017, Pittman collected more than $9 million in bonuses, in addition to base pay of $1.25 million. The figure represents a major uptick for a top executive who had made less than $5 million total in the two previous years.

Bob Pittman

Pittman, a longtime radio veteran took over the helm at what was then known as Clear Channel Communications Inc. in late 2011. He was able to maintain the radio network’s dominant spot in the industry, but it wasn’t enough to fend off creditors pushing for a balance-sheet restructuring.

iHeart filed for chapter 11 bankruptcy protection in March, with a pact that will slice $10 billion in debt from its balance sheet, mostly by swapping it for equity or new debt in a reorganized radio operation.

The pact calls for creditors to support the restructuring, as well as enhanced rewards for executives. In bankruptcy, iHeart is asking a judge to approve nearly $7 million in incentive bonuses for Mr. Pittman for 2018, which the company says are tied to performance goals.

iHeart also spent heavily on legal and financial advice in 2017. Court records reveal the company paid more than $52 million to its own restructuring advisers, including $27 million to Kirkland & Ellis LLP, the Chicago law firm that is shepherding it through bankruptcy.

Before the bankruptcy proceeding is over, iHM will also pick up the professional fees for advisers to the major camps of creditors that negotiated its balance-sheet revamping, including advisers to owners Thomas H. Lee Partners and Bain Capital, which led the leveraged buyout that loaded the company with debt.