Emmis Reports FY, Quarterly Radio Revenue Drop

Emmis Communications Corporation today announced results for its fourth fiscal quarter and full-year ending February 28, 2019.

Emmis' radio net revenues for the fourth fiscal quarter were $22.2 million, down from $28.4 million in the prior year, a decrease of 22%. Pro forma for the sale of the company's Los Angeles and St. Louis radio stations, Emmis' fourth quarter pro forma radio revenues per Miller Kaplan were down 4%, in markets that were up 3%.

Jeff Smulyan

For the full year, radio revenues were $108.0 million compared to $142.9 million in the prior year, a decrease of 24%. For the full year, Emmis' pro forma radio revenues as reported to Miller Kaplan were down 2%, narrowly missing the performance of its markets, which were down 1%.

Emmis completed a refinancing of its credit facility on April 12. The refinancing, which lowered the Company's cost of capital from 10.5% to 5.8%, reflects the greatly improved credit profile of Emmis.

"While the fourth quarter didn't finish as strongly as we would have liked, we are seeing significant strength as we commence the new fiscal year.  Emmis' first fiscal quarter is pacing up 5%, and ticket and sponsorship sales for Hot 97's Summer Jam, Emmis' largest event which occurs in June, are pacing well ahead of last year," Jeff Smulyan, CEO & Chairman of the Board of Emmis said. "Our renewed focus on digital is bearing immediate fruit, with Q1 digital revenues pacing up 50%.  Ratings remain strong across all our brands and I'm confident that our ratings success will allow us to sustain this growth."

"With the scaling down of NextRadio that occurred last year, coupled with the company's recent refinancing, Emmis has one of the best balance sheets in the radio industry, which has been enhanced by our strong operational start to this fiscal year," Smulyan concluded.

Univision 1Q Earnings Fall

Spanish-language media giant Univision Communications on Thursday reported lower first-quarter earnings amid lower revenue, including from a carriage dispute with Dish Network, which it settled late in the quarter, according to The Hollywood Reporter.

Univision, led by CEO Vincent Sadusky, reported a first-quarter profit of $24.3 million, compared with a year-ago profit of $47.4 million.

Quarterly adjusted operating income before depreciation and amortization, another profitability metric, dropped 19.6 percent to $204.3 million.

First-quarter revenue from continuing operations declined 8.2 percent to $666.2 million, with core advertising revenue down 8 percent to $606.2 million. Networks unit advertising revenue fell 4.8 percent to $287.0 million, "primarily due to declines in network advertising revenue partially offset by growth in our local television and digital advertising revenues," the company said. "Among other factors, the lack of carriage on Dish had an unfavorable impact on our network advertising revenues."

Non-advertising revenue, including carriage fees and content licensing, fell 12.4 percent to $273.6 million in the latest period.

"Our reprioritization on our core assets drove sequential ratings growth in the first quarter, where the Univision Network extended its season-to-date ratings lead among adults 18-49 to double digits over our nearest competitor in primetime," said Sadusky. "This represents the second consecutive quarter of sequential primetime ratings growth without Dish carriage. With our carriage dispute resolved and increased ratings, we are looking forward to showcasing Univision’s exciting new programming slate during this Upfront season.”

Twitter, looking to expand the audience for its video business, recently struck a deal with Univision to offer Spanish-language sports, news and entertainment programming in the U.S.

Urban One Earnings 'Softer' Than Expected

Urban One, Inc. today reported its results for the quarter ended March 31, 2019. 

Net revenue was approximately $98.4 million, a decrease of 1.2% from the same period in 2018.

Alfred C Liggins III

Broadcast and digital operating income was approximately $34.5 million, an increase of 6.1% from the same period in 2018. The Company reported operating income of approximately $16.1 million for the three months ended March 31, 2019, compared to approximately $7.3 million for the same period in 2018. Net loss was approximately $6.7 million or $0.15 per share (basic) compared to net loss of approximately $22.6 million or $0.48 per share (basic) for the same period in 2018. Adjusted EBITDA2 was approximately $29.0 million for the three months ended March 31, 2019, compared to approximately $28.5 million for the same period in 2018.

Alfred C. Liggins, III, Urban One's CEO and President stated, "While our Radio division finished the quarter a little softer than expected, the Q2 pacings show a strong rebound, with April up mid-teens and Q2 overall pacing up high single-digits. TV One advertising revenues performed nicely, with ratings remaining relatively stable, and subscriber churn was largely offset by contractual rate increases.

"Our digital segment was impacted by the timing of a tent-pole event, which caused some revenue to spill over into Q2, however the reorganization of expenses that occurred at the end of 2018 meant that the division delivered a much improved EBITDA performance. Our investment in MGM National Harbor continues to perform well, with first quarter net gaming revenues up by 5.6% year over year. We remain focused on deleveraging, and during the first quarter we reduced indebtedness by $21.8 million."

NYC Radio: Shannon Departure Was Beginning Of The End For WPLJ

HotAC WPLJ 95.5 FM announced in a tweet that it will air its final broadcast May 31. The announcement comes less than three months after the station was purchased by Educational Media Foundation, a Christian radio broadcaster, signaling a change in formats and call letters.

"The rumors you've been hearing are true," said Todd Pettengill, co-host of the Todd and Jayde show and arguably the station's most popular host, according to northjersey.com. "As hard as it is to believe, WPLJ will be going away on Friday, May 31st. The format and personalities that you've come to love over the years, will no longer broadcast on 95.5."

WPLJ has been a cultural staple since 1971, when its call letters were WABC-FM and it was known for going against the grain, playing obscure tracks and popularizing underground music. Over the years, the radio station has morphed and changed formats, most recently broadcasting as adult contemporary.

“It's no surprise when a station changes its format, but what is shocking is that a religious broadcaster would buy a major property like WPLJ and take it off the market of mainstream radio listening," said Jimmy Fink, a former WPLJ disc jockey who did a 13-year stint with the station from 1970 to 1983. "Those call letters are a legacy in the New York market and to see them disappear along with a whole staff of talented people is sad and disappointing for the future of New York radio.  The replacement will be syndicated programming not connected to NY at all."

The station has enjoyed highs and lows in popularity and listenership, most recently peaking with the now-defunct Scott and Todd Show, co-hosted by Pettengill and Scott Shannon.

Shannon was credited with creating and popularizing the "Morning Zoo" format, where one or two main hosts are flanked by often off-kilter co-hosts who play up characters, do phone pranks and conduct recurring games and segments.

After Shannon left for WCBS 101.1 FM in 2014, Pettengill stayed at WPLJ, teaming up with Jayde Donovan. Many listeners saw Shannon's departure as the beginning of the station's decline.



The sale of WPLJ to EMF signals yet another switch in formats. But this time, the switch appears to be more conclusive, wiping the call letters and the radio personalities that defined the station.

WPLJ 95.5 FM (6.7 Kw) (Courtesy of RECNET.com)

Disney Revenue Rises As Do Content-Production Costs

Walt Disney Co’s theme parks lifted quarterly earnings past Wall Street targets on Wednesday, helping offset big investments to support the media and entertainment company’s bid to draw audiences to streaming media, reports Reuters.

“Avengers: Endgame”, the end of a decade-long superhero series with $2.2 billion in box office sales worldwide, will stream exclusively on Disney+ starting Dec. 11, the company announced.

Growth at Disney parks in the United States boosted results above analyst expectations. From January to March, Disney reported adjusted earnings per share of $1.61, ahead of analyst estimates of $1.58, according to IBES data from Refinitiv. Heavy investment accounted for a 13 percent drop from a year ago by that measure.

Revenue rose 3 percent to $14.92 billion. Analysts had been expecting a small decline.

Disney is trying to transform from a cable TV leader to a streaming media powerhouse that, like Netflix Inc, sells subscriptions directly to consumers. Costs to build digital services will weigh on profits for several years, the company has said, but the stock has risen 15% since the Disney+ announcement in April.

Its biggest streaming bet, the family-oriented Disney+, is set to launch in November. The company told analysts in April that it expects Disney+ to achieve profitability in fiscal 2024.

The just-ended quarter reflected the purchase of film and TV assets from 21st Century Fox, which brought Disney more content for its streaming future.

For the quarter, the direct-to-consumer and international unit recorded a loss of $393 million from streaming costs.  Disney also recorded a $353 million impairment charge from its ownership stake in media startup Vice.

In the theme park unit, net income hit $1.5 billion as more visitors showed up at Walt Disney World in Florida and at Hong Kong Disneyland, and occupied hotel nights increased.

“Increased ticket prices haven’t put visitors off, and hotels continue to be a major driver of additional spending,” said Nicholas Hyett, equity analyst at Hargreaves Lansdown. “It’s easy to get caught up in the hype surrounding new films ... but it’s the less glamorous Media Networks and Parks that pay the lion’s share of the bills.”

Overall net income jumped 85 percent, to $5.4 billion, thanks to Disney’s acquisition of a controlling stake in Hulu through the Fox acquisition.

Media networks, a division that includes ESPN and ABC, reported $2.2 billion in operating income for the quarter.

Ad Revenue Jumps 9 Percent At Fox

Fox Corp. said its profit rose in its first quarterly earnings report since being separated from 21st Century Fox, driven by stronger performances in its cable network and broadcast TV segments, according to The Wall Street Journal.

The company, whose businesses include Fox News; the Fox broadcast network and television stations; and Fox Sports, was spun off from 21st Century Fox and began trading as a separate public company in March. Walt Disney Co. closed its $71.3 billion acquisition of the major entertainment assets of the former 21st Century Fox earlier this year.

Shares of Fox, which beat analysts’ estimates on profit and sales in the latest period, rose about 5% in extended trading as the company revealed plans to launch a sports-betting partnership with The Stars Group. As part of the deal, Fox will pay $236 million for a 5% stake in Stars Group.

Fox Bet will roll out two products this fall—one providing customers in states with legalized gambling an opportunity to wager on sporting events, and the other offering a nationwide platform where customers can win cash prizes for correctly predicting the outcome of games, the company said.

Fox is among several media companies that have been looking for ways to exploit sports betting after the Supreme Court last year struck down a federal ban. Several states have so far moved to legalize it, including New Jersey, Rhode Island, Pennsylvania, Delaware, West Virginia and Mississippi.

The company said the most recent quarter’s results, including the prior year’s comparison, are based on the 21st Century Fox’s domestic news, national sports and broadcast businesses, along with certain other assets.

Fox said its third-quarter profit was $529 million, or 85 cents a share, compared with $457 million, or 74 cents a share, for the comparable quarter in 2018. On an adjusted basis, earnings were 76 cents a share, more than the 67 cents a share expected from analysts polled by Refinitiv.

Revenue rose 12% from a year earlier to $2.75 billion, above analysts’ expectations of $2.61 billion in revenue.

In the latest period, Fox said its revenue growth was driven by an 11% jump in affiliate revenue and a 9% increase in advertising revenue.

Jeff Glor To EXIT CBS Evening News Friday

Norah O’Donnell won’t take over as anchor of “CBS Evening News” until this summer. But the current anchor of the program isn’t going to stay at the show until that time, according to Variety.

Jeff Glor, who has been the face of “CBS Evening News” since late 2017, has told staff he will step down as anchor of the evening newscast after Friday’s program, according to three people familiar with the matter. Glor is currently in discussions about taking a new role at CBS News, and Susan Zirinsky, the president of the news operations, told Variety earlier this week, that the anchor remains in discussions with CBS News “about a couple of different roles, and I hope he stays.”

Glor is leaving the program as part of a broader overhaul at CBS News that will change not only the evening broadcast, but “CBS This Morning” as well. CBS is betting that a new team of Gayle King, Anthony Mason and Tony Dokoupil can reverse viewership declines at the A.M. program, and that moving O’Donnell to evenings (and her roost to Washington, D.C. from New York) will make the nightly newscast more relevant to a national audience.

Radio One Promotes Dustin Kross At WNOW, KROI

Dustin Kross

Radio One has named veteran programmer Dustin Kross as CHR Format Director overseeing WNOW 100.9 FM RadioNOW in Indianapolis and KROI 92.1 FM RadioNOW in Houston.

He'll also guide and develop the company's roster of air talents in both markets.

Kross previously served as PD/mornings at CHR KLIF-FM (HOT 93.3)/Dallas. Before that, he was Assistant PD/morning host for WJHM-FM (101.9 AMP Radio)/Orlando and Assistant PD/afternoon host at WNWW-FM (97.9 Kiss FM) in Jacksonville, FL.

Vice President of Programming Colby Tyner said, "We are excited to be working with Dustin, his expertise and passion for the Top 40 format is just what we need in Houston and Indy."

"I'm extremely excited to join the Radio One team and oversee both the RadioNOW brands in Indy and Houston, Big thanks to Mark McCray, Colby Colb, Deon Levingston and Pam McKay for this great opportunity," added Kross.

He fills the opening created by Charese Fruge’s exit last month from the same position.

Deborah Dugan Named President/CEO Of The Recording Academy

Deborah Dugan

The Recording Academy Board of Trustees has appointed Deborah Dugan as the next President/CEO of the Recording Academy, the leading society of performers, musicians, songwriters, producers, engineers, and all music professionals, and the organization behind the annual GRAMMY Awards ®. The appointment was announced today by John Poppo, Chair of the Board.

“I’m honored, humbled, and ready,” said incoming Recording Academy President/CEO Dugan. “The goal of the Recording Academy is to support, encourage, and advocate for those within the music community. I will listen to and champion all of those individuals, and lead this iconic organization into the future. I’m excited to get started.”

“Deborah is a highly accomplished business executive and a visionary leader who also brings to this role a great passion for the mission of the Academy,” said Poppo. “The Board of Trustees is very eager to work with her as we embark on this next chapter in the Recording Academy’s story.”

Dugan is the first woman appointed as President/CEO of the Recording Academy. She brings three decades of high-level private sector and nonprofit executive experience to the role. Dugan most recently served as CEO of (RED), the AIDS nonprofit co-founded in 2006 by U2 singer Bono and activist Bobby Shriver. During her tenure, she worked with the creative community on many groundbreaking campaigns, tripling (RED)’s contributions to the Global Fund and positively impacting millions of lives.

A former Wall Street mergers and acquisitions attorney, Dugan was also president of Disney Publishing Worldwide, and executive vice president of EMI Records Group/Angel Records. She currently serves as co-chair of the award-winning storytelling nonprofit The Moth. Dugan was featured in Forbes Social Entrepreneurism’s “100 Most Powerful Women” and Elle ’s “Top Women To Help Change The World.”

In her role, Dugan will oversee all Recording Academy affairs, working closely with the Academy’s Board of Trustees and senior management team to advance the Academy’s goals and mission. She will drive the creative and strategic vision of the organization and lead the operations of the Academy. Dugan will also serve as President/CEO of MusiCares  and on the boards of the GRAMMY Museum Foundation  and The Latin Recording Academy .

Dugan will formally assume the role of President/CEO on Aug. 1, 2019.

Pandora Offers New Student, Military Sub Plans

US-based music streaming platform Pandora has launched discounted plans for students and military personnel.

The Pandora Student Plan offers full Pandora Premium features for $4.99/month, with a 60-day free trial, according to a blog post.

The move brings Pandora’ pricing options in line with rivals like YouTube Music, SoundCloud, Spotify, and Apple Music, which all offer discounted student plans.

The Pandora Military Plans offer the same Premium features to those with qualified military status (including active duty, reservists, retirees, veterans, and military family) for just $7.99/month, with a 60-day free trial.

The new plans follow last year’s launch of the Pandora Premium Family Plan, where up to six family members get Premium features for $14.99/month.

Pandora’s new owner SiriusXM has been rolling out a number of initiatives to ensure that the the streaming service can keep a foothold in the increasingly competitive music streaming space.

SirusXM recently pledged a ‘major commitment to delivering world-class content’ for Pandora users with the development of a dedicated Content Team to rival the likes of Spotify as some of it focus shifts from music to non music content, according to Music Business Worldwide.

Content from select SiriusXM shows was also made available to all Pandora listeners as podcasts.

Sun Broadcast Group Adds Ed Moloney, West Coast Office

Sun Broadcast Group (SBG), a Gen Media Partners Company, has announced the opening of their west coast office in Los Angeles, CA as part of its expansion efforts to better serve its affiliates, advertisers and partners across the country.

In addition, SBG has hired Ed Moloney as Affiliate Content Director effective immediately. In his new position, Ed will affiliate stations for all SBG shows and services, maintain relationships with current affiliates, and support other programming efforts for new additions to the SBG line up such as Ground Zero with Clyde Lewis, the 90’s with Alfonso Ribeiro, In the Mix with DJ Grooves, Retro Pop Reunion and Throwback Nation Radio.

For the past 8 years, Moloney programmed the syndicated version of JACK FM. He has also worked for Westwood One, Entertainment Radio Networks, KCBS and KYSR, Los Angeles and WBCN Boston . “Ed brings valuable experience to the team with tremendous knowledge of the radio industry, great connections among PDs and GMs and an appetite for success. I am confident that his programming background will immediately contribute to the growth of our affiliate base” commented VP Programming and Affiliate Relations Rich O’Brien.

Moloney added: “I’m very excited to be part of the affiliate sales and programming team at SBG. I’ve been fortunate enough to work on several syndicated projects in my career and joining Jay Bailey’s innovative team at SBG is something I’ve wanted to do for a long time.  The new office in California is the proof that the company is thriving and keeps moving forward at a fast pace. I can’t wait to start helping our network create compelling content that radio professionals can use to entertain and inform their listeners.”

Ed Moloney will work out of SBG’s Los Angeles office and can be reached at 310.283.9407 or emoloney@sunbgi.com.

Billy Bush Gets TV Gig

Billy Bush

Billy Bush has finally found a job nearly three years after the Donald Trump tape scandal that resulted in his firing from the “Today” show.

According to The NYPost, the 47-year-old Bush will host “Extra Extra,” an updated version of the current syndicated entertainment show “Extra.”

“We all have to be able to evolve as we grow,” Bush, 47, told People. “The guy that left the scene in 2016 was already a changed person [since 2005], but I had the opportunity to grow up a little bit. Facing adversity in some way is good. And I feel I’ll be better at my job than I ever was. This is my next step.”

“Extra Extra” will take in-depth looks at topics ranging from pop culture to politics. “Extra,” which is currently hosted by Mario Lopez, will continue its run through the remainder of the season. Amid rumors that Lopez is departing his series to replace Natalie Morales on “Access Hollywood,” a source told Page Six on Wednesday that Warner Bros., the production company behind “Extra,” isn’t aware of Lopez’s future plans, though they expect him to complete the show’s current season.

In 2016, Bush was serving his first year on “Today” when a tape that showed Bush laughing as then-“Apprentice” star Trump bragged about groping women leaked to the press. Bush was promptly fired from the job while Trump went on to win the presidency.

“I fell completely apart,” said Bush. “I’ve been through resentment and anger and being inconsolable. But then I realized I had an opportunity to put one foot in front of the other and get going.”

Talking Head Marie Harf EXITING Fox

Marie Harf

Marie Harf, a liberal on-air Fox News personality, is leaving the network to join Rep. Seth Moulton’s (D-Mass.) presidential campaign, according to The Hill.

Moulton's campaign told The Daily Beast that Harf, who has served as a political commentator for Fox News Channel and as a co-host of Fox News Radio’s "Benson and Harf," will work with Moulton as his deputy campaign manager for policy and communications.

Fox News confirmed to The Hill that Harf is leaving the network but pointed to Moulton’s campaign for confirmation that she is joining his campaign staff. The Moulton campaign did not immediately respond to a request for comment from The Hill.

Harf, a former State Department spokeswoman during the Obama administration, has served as a Democratic voice on Fox News, though she has criticized the party in the past.

Harf previously served as a senior communications adviser to former Secretary of State John Kerry and as a Middle East analyst at the CIA, bringing international relations experience to a campaign already highlighting Moulton’s foreign policy chops as a veteran. She also worked on former President Obama’s 2012 reelection bid.

Moulton, an outspoken moderate who grabbed headlines for working to deny Nancy Pelosi the speakership for the current congressional session, launched his presidential bid last month. He has thus far struggled to gain traction in national and statewide polling.

Guy Benson, Harf’s co-host, who is also a Fox News contributor, will take over the radio show as the solo host starting Thursday.

USRN Offers Summer of '69 Radio Special

Dick Bartley

United Stations Radio Network (USRN) announced it will be distributing a summertime special in honor of the 50th anniversary of the Summer of 1969 which will be produced and hosted by the legendary on air personality, Dick Bartley.

The Summer of 1969 was a special time in both music and pop culture… it was the summer of the Moon landing, the Woodstock Festival, the Manson Family, the “Hair” phenomenon on Broadway and a lot more. With Dick Bartley handling the programming and the hosting of this special, that special summer will be commemorated perfectly for Classic Hits/Oldies stations that are looking for a great retrospective of 1969 on its milestone 50th anniversary.

Dick Bartley is a beloved broadcaster, unparalleled host and producer and a three-time winner of the Billboard Radio Award. He was inducted into the National Radio Hall of Fame in 2000, and has had his weekend program distributed nationally for over 30 years. Dick Bartley is also currently celebrating the 10th anniversary of his association with the current incarnation of United Stations as he’s been partnered with the network since 2009.

For more info, contact Andy Denemark – andyd@unitedstations.com or 212.536.3603

FCC Call Sign Activity For April 2019

During April 2019. the FCC accepted applications to assign call signs to, or change the call signs of the following broadcast stations: