Morning Wake-Up Pulse For Jan 23

Radio Broadcasting:

FCC Guidance on Equal Opportunities Rule for Talk Shows: The FCC issued a public notice reminding broadcasters that many daytime and late-night talk shows (including on TV but applicable to radio) do not automatically qualify for exemptions from the equal opportunities rule. This requires stations to provide equal time to opposing political candidates if one uses the facility. The guidance revives focus on this rule amid campaign seasons, potentially affecting how stations handle partisan-leaning programming like certain talk hosts or shows. It has drawn criticism from some commissioners as an attempt to influence speech, and it's seen as relevant for radio talk formats.

Broadcasters Push FCC to Eliminate Local Ownership Caps: Multiple radio groups, backed by the NAB, filed comments in the FCC's 2022 Quadrennial Regulatory Review urging removal of local radio and TV ownership limits. They argue these "archaic" caps disadvantage broadcasters against unrestricted Big Tech platforms (e.g., streaming services), harming localism and competition. Recent court decisions (like Zimmer Radio v. FCC) support a deregulatory approach, with broadcasters claiming the FCC lacks justification to maintain or tighten rules.

Big Tech as Existential Threat to Local Radio: In related filings and commentary, broadcasters describe competition from digital giants as an "existential threat" to local broadcasting, emphasizing how ownership caps prevent scaling while tech companies face no such restrictions on market concentration or national reach.

• Cumulus Media partnered with Eon Media to develop and monetize AI audio tools for broadcast and digital platforms, highlighting ongoing tech integration.
• St. Louis's 88.1 FM relaunched as WorshipOne following a 2025 sale, reflecting format changes and ownership transitions in local markets.

WBD Bids

Netflix's Adjustment: Netflix amended the deal to an all-cash offer at $27.75 per share (no stock component, simplifying valuation and addressing concerns from Netflix's share price drop post-announcement). This has unanimous WBD board support, accelerates the path to a shareholder vote (expected in April 2026), and provides "greater certainty of value." WBD plans to spin off its Global Linear Networks as "Discovery Global" in mid-2026.

Paramount's Pushback: Paramount has repeatedly extended its tender offer deadline (most recently to February 20, 2026) to solicit shareholder support and vote against the Netflix deal. It argues its offer is superior (higher value, full company acquisition, potentially fewer regulatory hurdles due to ties like Larry Ellison's backing). Paramount has filed to compel more disclosures from WBD, launched a proxy fight (planning to nominate board candidates), and sued in Delaware court.

Shareholder Response: WBD stated that over 93% of shareholders have rejected Paramount's "inferior scheme" in favor of Netflix. Only a small fraction (around 6.8–7%, or ~168–169 million shares) have tendered to Paramount so far—far short of the majority needed for control.

Public Statements: Netflix co-CEO Greg Peters dismissed Paramount's bid as not passing the "sniff test," calling it reliant on "fantasy" financing with heavy debt, and expressed confidence Netflix will prevail. Paramount reaffirms its commitment to the higher-value, all-cash offer.

U.S. News

This Is Not an Average Winter Storm, Weather Experts Warn. The latest on the major winter storm affecting much of the U.S. is that a massive, potentially historic system—named Winter Storm Fern by The Weather Channel—is rapidly developing and beginning to impact areas. It's already underway in parts of the Southwest and Southern Plains.

Scale and Reach: This is one of the largest winter storms in years, spanning over 2,000 miles and affecting up to 230-250 million people (roughly two-thirds of the U.S. population) across 33-40+ states. Alerts (winter storm warnings, ice storm warnings, extreme cold advisories) cover from the Southwest (Arizona/New Mexico) through the Southern Plains, Midwest, South, Appalachians, Mid-Atlantic, and Northeast to New England.

Hazards: Heavy snow: Up to 12-20+ inches in spots, especially in the Appalachians, Ozarks, Texas Panhandle, parts of the Midwest/Northeast (e.g., New York City metro could see 6-12+ inches, potentially over a foot in some areas; similar for Boston, D.C., Baltimore).

Damaging ice/freezing rain: Significant accumulations (0.5-1+ inch) possible from eastern Texas across the South to the Carolinas and parts of the Mid-Atlantic, leading to power outages from downed lines/trees, treacherous travel, and prolonged slick conditions.

Frigid temperatures: Dangerously cold air mass following the storm, with wind chills potentially to -50°F in northern Plains (e.g., Minnesota/North Dakota). Record lows possible in southern Plains and mid-Atlantic (coldest since 2018 in places like D.C. and Raleigh).

Other risks: Blizzard conditions in some areas, high winds, sleet, and even isolated severe thunderstorms in transition zones.

Timeline

• Friday (Jan 23): Storm intensifies in Southern Rockies/Plains (snow in NM/CO/TX/OK), spreading east with ice/snow in South and Midwest.
• Saturday-Sunday: Peak impacts—crippling ice in South/Deep South, heavy wet snow pushing into Mid-Atlantic/Northeast (NYC/Tri-State heavy snow late Saturday into Sunday; Boston/NYC lows in single digits).
• Monday: Lingering effects, with storm tapering but cold persisting.

Trump Approval & Polling — A New York Times/Siena poll shows less than one-third of voters believe the country is better off one year into Trump's second term. Majorities disapprove of his handling of the economy, immigration, Ukraine/Russia war, Venezuela, and say his policies made life less affordable.

Conference Championship Sunday Set

NFC Championship: No. 1 Seattle Seahawks vs. No. 5 Los Angeles Rams (6:30 p.m. ET). This is the third matchup between the teams this season, with a Super Bowl berth on the line. The Rams earned redemption after earlier losses, including an epic OT game, and now challenge the top-seeded Seahawks.

AFC Championship: No. 1 Denver Broncos vs. No. 2 New England Patriots (3 p.m. ET). Broncos backup QB Jarrett Stidham steps in for injured Bo Nix to face his former team. Denver advanced dramatically with a 33-30 OT win over the Bills, thanks to a stout defense forcing five turnovers from Josh Allen. Recent divisional results included the Rams edging the Bears 20-17 in OT and other high-stakes games. Super Bowl LX is building massive buzz.

Paramount Extends Deadline On Hostile WBD Bid

Paramount Skydance extended the deadline for its hostile tender offer to acquire Warner Bros.Discovery by about a month to February 20, giving it more time to convince shareholders that its all-cash bid is superior to Netflix's rival deal.

The company did not increase its offer price of $30 per share (total enterprise value over $108 billion, including debt). As of the original January 21 deadline, only about 168.5 million shares—roughly 6.8% of outstanding stock—had been tendered.

Warner Bros. Discovery's board unanimously supports Netflix's amended all-cash offer of $27.75 per share (enterprise value $82.7 billion) for the company's streaming and studio assets, including HBO Max and iconic franchises like Batman and Friends. Netflix switched to an all-cash structure earlier this week to provide greater certainty and speed up closure, addressing concerns from its prior mixed cash-and-stock proposal.

Warner Bros. has repeatedly rejected Paramount's bids as inadequate and expressed confidence in securing regulatory approval for the Netflix transaction, calling it a deal with "tremendous and certain value."

The contest is likely heading toward a shareholder vote expected by April, where Warner investors will decide on the Netflix deal. Paramount plans to urge a "no" vote on Netflix's transaction once it clears SEC requirements, and has threatened a proxy fight to replace the board if shareholders reject Netflix—potentially paving the way for its own offer.

Paramount argues its bid offers higher value, a clearer regulatory path (citing ties to President Trump), and avoids risks in Netflix's plan, such as offloading $17 billion in debt to a Discovery Global spinoff for cable assets. Warner has countered with multiple valuations showing potential upside in the spinoff.

Netflix co-CEO Ted Sarandos is set to testify next month at a U.S. Senate hearing on the deal, alongside Warner's chief revenue and strategy officer. Netflix sees strategic benefits in adding HBO Max for personalized subscriptions and theatrical revenue, though some analysts warn of integration costs, content spending pressures, and added debt.

DOJ Loses Out On Charging Don Lemon's Church Coverage

Federal Magistrate Rejects DOJ Bid to Charge Don Lemon in Anti-ICE Church Protest CaseA federal magistrate judge in Minnesota has declined to approve criminal charges against independent journalist Don Lemon related to his coverage of an anti-ICE protest that disrupted a church service in St. Paul over the weekend.

The decision, issued Thursday, blocks the Department of Justice's attempt to prosecute Lemon under the Freedom of Access to Clinic Entrances (FACE) Act of 1994. Prosecutors had argued that Lemon and others involved may have violated the law, which prohibits using force, threats, or physical obstruction to interfere with access to reproductive health services or the exercise of religious freedom at a place of worship.

Lemon, the former CNN anchor, was present at Cities Church during the Sunday demonstration, where activists interrupted services to protest a pastor's alleged ties to U.S. Immigration and Customs Enforcement (ICE). He live-streamed parts of the event and has maintained that he was there solely as a journalist to chronicle the protest, not as a participant or organizer.

"I was there chronicling protests," Lemon stated in a social media video following the incident. "We did an act of journalism which was report on it and talk to the people involved, including the pastor, members of the church and members of the organization."

The magistrate's refusal to sign off on the complaint means no charges will be filed against Lemon at this stage, though sources indicate the Justice Department could pursue alternative avenues, such as seeking an indictment through a grand jury or presenting additional evidence to another judge.

The ruling comes amid broader federal action: Attorney General Pam Bondi announced arrests of three other individuals connected to the protest—civil rights attorney Nekima Levy Armstrong, St. Paul School Board member Chauntyll Louisa Allen, and William Kelly—on related charges, including potential FACE Act violations.

The protest itself stemmed from outrage over recent immigration enforcement actions, including the fatal shooting of a 37-year-old mother by an ICE officer in Minneapolis earlier this month.

Demonstrators chanted demands to remove ICE influence from community spaces, highlighting tensions between federal immigration policies and local religious settings under the current administration.

Freedom of the press does not override freedom of religion.

Don Lemon doesn’t get to interrupt worship, harass a congregation, and call it journalism just because he brought a camera. pic.twitter.com/u8xpkVQ5pe

— Steven Crowder (@scrowder) January 19, 2026

Lemon's attorney, Abbe Lowell, issued a statement affirming readiness to "fight any charges vigorously and thoroughly in court" if pursued further, emphasizing press freedom concerns in the case.

This development marks a setback for the Trump administration's push to apply the FACE Act—a statute originally aimed at protecting abortion clinic access and religious worship—to the church disruption incident.

Bill O'Reilly Steps Away Due To Medical Issues

Bill O'Reilly, the 76-year-old veteran conservative commentator and host of the No Spin News podcast, announced he is temporarily stepping back from regular media activities, including podcast episodes, due to an undisclosed illness he called a "malady."

In a message posted on his website billoreilly.com on January 20, 2026, O'Reilly told his "No Spin Nation" supporters:

"Hey No Spin Nation. Sorry I am dealing with a malady. We have great doctors so we’ll fight the good fight. Doesn’t affect my fingers so will update you on me, news cycle, and anything major. Hopefully, back in the saddle shortly."

The announcement indicates O'Reilly is scaling back while undergoing treatment but will continue providing written updates on news and his condition, as the issue does not impact his ability to write.

He did not disclose specifics about the illness, including symptoms, diagnosis, or timeline beyond his hopeful note of a quick return. This appears to be a new development, with no prior public reports of similar health-related pauses in recent years.

Radio History: Jan 23

➦In 1941...WOR-AM moved from Newark NJ to NYC.

WOR began broadcasting on February 22, 1922, using a 500-watt transmitter on 360 meters (833 kc.) from Bamberger's Department Store in Newark, NJ. The station's first broadcast was made with a home made microphone which was a megaphone attached to a telephone transmitter, while Al Jolson's "April Showers" was played. Louis Bamberger's sale of radio sets to consumers explained their affiliation with the station.

The WOR call sign was reissued from the U.S. maritime radio service. The station initially operated limited hours, sharing time with two other stations, WDT and WJY, which also operated on 833 kc.

WOR changed frequency to 740 kc. in June 1923 and shared time with WJY until July 1926, when WJY signed off for good and WOR received full use of the frequency. In December 1924, WOR acquired a studio in Manhattan. On June 17, 1927, as a result of General Order 40, WOR moved to 710 kc., the channel it currently occupies (unlike most stations, it was not affected by NARBA).

Later in 1926, WOR moved from its New York City studio on the 9th floor of Chickering Hall at 27 West 57th Street to 1440 Broadway, two blocks from Times Square.

➦In 1954...WNBC 660 AM NYC switched from classical to pop

WNBC signed on for the first time on March 2, 1922, as WEAF, owned by AT&T Western Electric. It was the first radio station in New York City.

The calls are popularly thought to have stood for Western Electric AT&T Fone or Water, Earth, Air, and Fire (the 4 classical elements). However, records suggest that the call letters were assigned from an alphabetical sequence. The first assigned call was actually WDAM; it was quickly dropped, but presumably came from the same alphabetical sequence.

➦In 1969.. in Memphis, Elvis Presley recorded what would be his last #1 song, “Suspicious Minds.” During the 8th take, the producer used a premature fade-out and fade back in near the end of the track. He felt the fade out, fade in reflected the way Elvis performed the song during his Las Vegas acts.

➦In 1969...working at the Apple studios in London, The Beatles (with Billy Preston on keyboards) recorded ten takes of ‘Get Back.’ However, Preston performances were never used. Four days later, 14 more takes of the song were recorded and eventually Take 11 was spliced together with the best take recorded a day later.

➦In 1977... Carole King‘s landmark album, “Tapestry”, became the longest-running album to hit the charts, as it reached its 302nd week on the album lists. In 2020 it remains #5 on the longevity list.

➦In 1978....founder and guitarist Terry Kath of the band Chicago died after accidentally shooting himself in the head with a pistol he didn’t think was loaded. He was a week short of his 32nd birthday.

➦In 1984...In NYC....Country WKHK 106.7 FM in became WLTW "Lite FM".

Trump: We're Targeting 'The View'

The FCC issued guidance on Wednesday stating that daytime and late-night TV talk shows interviewing political candidates must now follow "equal time" rules, requiring comparable airtime for opposing candidates. 

Networks can no longer rely on a 2006 exemption precedent from Jay Leno's "Tonight Show" interviews, as the FCC's Media Bureau declared no current such programs have presented evidence to qualify as bona fide news interviews exempt from the rule.

FCC Chair Brendan Carr emphasized that legacy networks have long assumed these shows count as "bona fide news" even when driven by partisan motives, and the agency is reminding broadcasters of their duty to offer equal opportunities to all candidates.

The guidance applies to broadcast TV stations and is particularly relevant in the 90 days before a candidate's nomination. Programs or stations seeking confirmation of exemption must file a petition for a declaratory ruling.

President Donald Trump amplified the news late Wednesday by sharing a story on Truth Social highlighting the FCC's focus on ABC's "The View" and "Jimmy Kimmel Live!"—shows that have drawn his repeated criticism. 

Trump has previously urged FCC action against broadcasters and commented on media mergers.

Democratic FCC Commissioner Anna Gomez sharply criticized the move as contradicting long-standing views on editorial discretion for newsworthy content, calling it an escalation in efforts to censor speech and intimidate broadcasters into avoiding critical coverage out of fear of regulatory retaliation. She stressed that the First Amendment does not bend to government pressure.

FCC Cracking Down On Liberal Talk-Shows

The FCC has issued new guidance on Wednesday clarifying that late-night and daytime talk shows are generally not exempt from the "equal opportunities" (equal time) rules for political candidates under Section 315 of the Communications Act.

This means broadcast stations airing such programs may need to provide comparable airtime to opposing legally qualified candidates if one appears for an interview, unless the show qualifies for a narrow "bona fide news interview" exemption.

The FCC emphasized that current late-night and daytime talk shows—including programs like Jimmy Kimmel Live! and The View—have not demonstrated eligibility for the exemption. It noted no evidence has been presented that their interview segments qualify as bona fide news, and programs motivated by partisan purposes are ineligible under longstanding precedent.

The guidance addresses industry reliance on a 2006 FCC staff decision granting an exemption to The Tonight Show with Jay Leno as a one-time, fact-specific ruling—not a blanket precedent for similar entertainment programs.

Brendan Carr

Broadcasters or programs seeking formal assurance of exemption are encouraged to file a petition for a declaratory ruling.The action follows controversy involving FCC Chairman Brendan Carr, who previously criticized Jimmy Kimmel Live! over remarks Jimmy Kimmel made after the death of conservative activist Charlie Kirk in 2025. 

Carr urged broadcasters to act, leading to temporary preemption of the show by affiliates owned by Nexstar Media Group and Sinclair Broadcast Group, followed by a week-long ABC suspension before its restoration.

Carr also questioned exemptions for The View and reinstated a complaint against WNBC-TV over Kamala Harris's 2024 Saturday Night Live appearance, alleging equal time violations.

The FCC stressed the importance of broadcasters and candidates understanding the rules to ensure fair access to airtime for qualified political candidates.

FCC's Anna Gomez Calls It Censorship

Democratic FCC Commissioner Anna Gomez sharply criticized a recent FCC guidance requiring late-night and daytime talk shows to comply with "equal time" rules for political candidate interviews, calling it misleading and part of an broader effort to intimidate broadcasters.

The guidance, issued Wednesday by the FCC's Media Bureau under Republican Chair Brendan Carr, asserted that such programs—often seen as exempt under longstanding "bona fide news" interpretations—must offer equal opportunities to opposing candidates if interviews are partisan-motivated rather than newsworthy.

In her response, Gomez—the sole Democratic commissioner—argued nothing has legally changed: the FCC has not adopted new rules, interpretations, or policies through proper processes like public comment and a commissioner vote.

She described the announcement as "an escalation in this FCC’s ongoing campaign to censor and control speech" and "government intimidation."Gomez emphasized that for decades, the Commission has recognized late-night programs and daytime news shows' editorial discretion based on newsworthiness, not political favoritism. 

She warned broadcasters against self-censorship, stating: "Broadcasters should not feel pressured to water down, sanitize, or avoid critical coverage out of fear of regulatory retaliation."

She added: "The First Amendment does not yield to government intimidation. Broadcast stations have a constitutional right to carry newsworthy content, even when that content is critical of those in power. That does not change today, it will not change tomorrow, and it will not change simply because of this Administration's desire to silence its critics."

This statement aligns with Gomez's pattern of dissenting against perceived threats to free press and speech under the current FCC leadership, including prior criticisms of government pressure on media outlets.

CBS News Contributor, 2 Others Slain In Gaza

AP Photo

Three journalists, including a contributor to CBS News, were killed Wednesday when an Israeli airstrike hit their car in central Gaza, shortly after they left a camp for displaced people.

The victims were identified as Abdel Raouf Shaat (also known as Abdul Raouf Shaat or Abed Shaat), a freelance cameraman who regularly contributed to CBS News and Agence France-Presse (AFP); Mohamed Qishta (also reported as Mohammed Salah Qashta); and Anas Ghneim (also Anas Ghoneim or Anas Ghanem).

The three were filming footage at a displacement camp managed by an Egyptian government relief committee in the Netzarim/al-Zahra area when the strike occurred on their vehicle about a mile away as they departed. The incident took place amid ongoing Israeli military operations in Gaza, despite a U.S.-backed ceasefire with Hamas that began in October.

Slain Journalists

The Israel Defense Forces (IDF) stated that troops identified suspects operating a drone affiliated with Hamas in a manner that posed a threat to soldiers, and conducted a precise strike on them. The IDF said the incident is under examination but provided no immediate evidence linking the journalists to the drone.

AFP mourned Shaat, who had contributed regularly as a photo and video journalist for nearly two years (though not on assignment for AFP at the time), describing him as a "kind-hearted colleague, with a gentle sense of humor and as a deeply committed journalist." CBS News president Tom Cibrowski informed staff of Shaat's death during a Wednesday morning call, revealing that the journalist had gotten married just weeks earlier. 

Although not on assignment for CBS at the time, Shaat had filed regularly from Khan Yunis during the war, including sending video from the back of an ambulance after being wounded on one occasion. Colleagues remembered him as a brave and deeply loved journalist.

Mediaite Launches Newsletter To Track Other Newsletters

Mediaite's new newsletter, "One Sheet," launched on Wednesday, as a daily subscription-based email briefing focused on the world of media coverage itself.

It's designed as a quick, five-minute read that curates and interprets the most notable scoops, sharp analysis, gossip, arguments, and emerging fault lines from the explosion of media-focused newsletters, Substacks, and similar outlets. 

Rather than just aggregating links, it provides interpretation and context on what's shaping media discourse in real time.

The newsletter is written by Colby Hall, Mediaite's editor (and a founding editor of the site, with prior experience at HBO and iHeartMedia). 

It publishes weekdays around 11 a.m. ET.

Examples of newsletters and sources it covers include:

• 
  Adweek’s On Background
• Axios’s Media Trends
• Bill O’Reilly’s No Spin News
• CNN’s Reliable Sources
• Columbia Journalism Review
• Morning Brew
• The Poynter Report
• PR Daily

And many others in the "news about the news" space.

The first edition (a free preview) highlighted items like Bari Weiss-related coverage, Minneapolis media stories, Davos insights, and more.

It's positioned as a way to cut through the overwhelming volume of media newsletters out there—essentially a meta-newsletter summarizing other media newsletters (which outlets like The New York Times noted has a fun "meta" layer to it).

Subscription details: It's part of Mediaite's premium offerings (Mediaite+). Pricing is $8/month or $80/year (sometimes listed as ~$79.99/year). It's included for existing Mediaite+ subscribers at no extra cost, delivered weekday mornings.

Mediaite founder Dan Abrams has expressed confidence that dedicated media watchers will pay to streamline their intake of this niche.

You can check it out or subscribe via Mediaite's site: https://www.mediaite.com/subscribe or look for announcements on their homepage.

TV Ratings: AFC Divisional Shattered Records

The AFC Divisional Round playoff game between the Denver Broncos and Buffalo Bills shattered records as the most-watched Saturday NFL playoff game in history, with viewership peaking at over 51 million (specifically 51.3 million or 51.284 million in various reports) during the dramatic overtime period.

The Broncos emerged victorious in a thrilling 33-30 overtime win on January 18, 2026, at home in Denver, where kicker Wil Lutz's decisive field goal sealed the outcome and propelled the team to its first AFC Championship appearance in a decade. 

The game averaged 39.6 million viewers (or precisely 39.597 million per CBS and Nielsen data) across the broadcast on CBS, marking a 17% increase over the previous year's comparable Saturday divisional matchup (Texans-Chiefs, which drew 33.8 million).

This performance not only topped all prior Saturday NFL playoff games—surpassing the previous high of 37.5 million for Packers-49ers in 2024 (a primetime slot)—but also set broader benchmarks: it became the most-watched Saturday afternoon telecast in U.S. television history and the most-watched Saturday broadcast on any network since the 1994 Winter Olympics.

The overtime excitement, featuring high-stakes moments like a Josh Allen fumble and intense back-and-forth scoring, clearly drove the massive audience surge, underscoring the NFL's ongoing dominance in drawing viewers for postseason drama—even on a traditionally lower-viewership Saturday slot.

Fox had less luck with its Saturday night broadcast of the 49ers at the Seahawks, which turned into a lopsided 41–6 Seattle victory lacking the tension and excitement of the earlier matchup. The game drew an average of 32 million viewers, a 5% drop from the comparable Commanders-Lions divisional playoff game on Fox last year, marking the second consecutive year-over-year decline for that Saturday night window.

YouTube Reporter Nick Shirley Testifies On Capitol Hill

Independent journalist and YouTuber Nick Shirley testified before the House Judiciary Subcommittee on Crime and Federal Government Surveillance on Wednesday during a hearing titled "When Public Funds Are Abused: Addressing Fraud and the Theft of Taxpayer Dollars."

The hearing primarily focused on alleged fraud in Minnesota's federally funded programs, including daycare centers, child nutrition, autism services, and other social welfare initiatives. Shirley gained prominence in late 2025 for a viral video claiming to expose widespread fraud in Minnesota's childcare system, where he filmed apparently vacant daycare facilities that had received millions in taxpayer funds. His work contributed to heightened scrutiny, a temporary freeze on certain federal childcare payments to Minnesota by the Trump administration, and ongoing federal investigations into related scandals (such as the Feeding Our Future case involving over $250 million in misused COVID-19 relief funds).

During questioning—particularly from Rep. Kevin Kiley (R-CA)—Shirley shifted attention to California, stating that fraud there "might be worse than the fraud in Minnesota." He highlighted:$24 billion allegedly "went missing" in spending intended to address homelessness in California, with little visible progress.

The long-delayed high-speed rail project, which has been in development for years but has produced "hardly anything to prove for that."

Broader issues like wildfires (likely referencing inadequate outcomes despite related spending or mismanagement).

Shirley's full testimony emphasized accountability for taxpayer dollars, criticizing what he described as systemic waste and fraud in government programs. Clips of his remarks, including the California comments, circulated widely on platforms like X (formerly Twitter), Fox News, One America News Network, and Infowars.

The Wake-Up Pulse for Jan 22

Radio Broadcasting

Station Counts:  The total number of U.S. radio stations saw a modest net increase in 2025 (up by about 201 stations overall), but this growth was driven almost entirely by noncommercial FM stations (up 278 to 4,755) and low-power services. Commercial FM and AM counts continued to decline, with AM stations down roughly 7% over the past decade. Translators and boosters have grown significantly (up 36% in recent years). This highlights a shift toward noncommercial and supplemental services amid challenges for traditional commercial outlets.

Regulatory and Ownership Changes:   Broadcasters, led by the National Association of Broadcasters (NAB), are aggressively pushing the FCC to eliminate or significantly relax decades-old local radio and TV ownership caps during the ongoing 2022 Quadrennial Review. Arguments center on radio's declining audience/revenue share (down roughly half in the past dozen years) amid competition from streaming and digital platforms. Groups like Connoisseur, Townsquare, and Bonneville argue AM band issues shouldn't block reform, as consolidation could enable efficiencies, investment, and better competition. The NAB highlights court decisions limiting the FCC's ability to maintain or tighten rules without proving necessity. A major relaxation appears likely in 2026 under current FCC leadership.

Other FCC actions include guidance requiring equal time for political candidates on certain late-night and daytime talk shows (previously exempt), sparking debate over speech control. HD Radio rules have seen expansions, such as asymmetric sideband operations for FM and all-digital AM options (voluntary, with notifications required).

Advertising and Revenue Trends Traditional spot ad revenue continues declining: national radio spot projected down 5% in 2025 and 3.5% in 2026, with local spot also contracting (though less sharply). Digital revenue (streaming, podcasting, connected devices) is growing (up ~6.5% in 2025), along with off-air sources like events. Radio is evolving digitally, with owners urged to lead with digital marketing alongside traditional solutions.

Technological and Programming Innovations: 

• A Phoenix station 94.9 The Zone (KZON-HD2) launched what is described as U.S. radio's first all-AI on-air lineup.
• Some stations experiment with data-driven playlists based on local streaming stats.
• AM revitalization efforts continue, including all-digital transitions and pushes for AM inclusion in vehicles (via the AM Radio for Every Vehicle Act, with strong congressional support but ongoing momentum needed).
• Broader discussions question radio's relevance in the streaming era, including calls for performance royalties on AM/FM plays (opposed by broadcasters via groups like NAB).

Media News

Political and Journalistic Landscape:  U.S. mainstream media coverage heavily focuses on President Trump's aggressive foreign policy moves, including repeated threats to annex or acquire Greenland (leading to tariff threats against European allies, market drops, and a recent "framework of a future deal" announcement at Davos). 

Domestic stories include mass ICE deployments and protests in Minnesota (with DOJ investigations into state leaders), military actions in Venezuela (capturing President Maduro), and broader themes of immigration enforcement, tariffs, and international tensions.

Journalism faces mounting pressures: low public trust, misinformation battles, potential hostility from the administration, and declining audiences (especially younger demographics shifting to social media). Reports predict a tough 2026, with traditional outlets struggling amid a "hostile White House" environment and shrinking space for independent/liberal voices due to ownership changes.

Entertainment and Broader Media Industry Trends The sector anticipates a challenging year, with predictions of further consolidation and disruption:

• Warner Bros. Discovery (WBD) remains in play, with Netflix reportedly edging out Paramount in bids for all or parts of it (after Paramount's offers were rejected). This could reshape streaming, independent film distribution, and news outlets like CNN.
• Hollywood and film face a potential "do-or-die" moment, needing better consumer engagement amid franchise fatigue and tight budgets.
• Reuters Institute surveys show 75% of news leaders expecting "agentic tools" (advanced AI agents) to have a large impact on journalism and media workflows.

News and Sports

Trump Announces 'Framework' Deal on Greenland  Drops Tariff ThreatsPresident Trump, speaking at Davos, declared a "framework of a future deal" with NATO on Greenland (and related Arctic issues), leading him to cancel planned tariffs on European allies who opposed U.S. acquisition or control efforts. This follows days of market turmoil, European backlash, and threats of a global "rupture." Stocks recovered partially after the reversal, with Trump calling it "a great deal for everybody." Allies like Europe are still grappling with implications, including discussions on bolstering their own defenses amid doubts about U.S. reliability.

Former Uvalde Police Officer Acquitted in Trial A Texas jury cleared a former Uvalde school police officer of child endangerment and abandonment charges related to the 2022 Robb Elementary shooting. The verdict has renewed debate over accountability in the response to the tragedy, with critics calling it a setback for justice efforts.

Severe Winter Storm Threatens Widespread Impact  One of the most extreme winter storms in recent years is forecast to bring heavy snow (6–12+ inches in places), damaging ice, freezing rain, and record cold across the central and eastern U.S., from Texas to the Carolinas and up the East Coast. States of emergency are being declared in multiple areas, with travel disruptions, power outage risks, and hazardous conditions expected through the weekend.

The NFL postseason is in full swing  with the conference championship games set for Sunday:

• AFC Championship: Denver Broncos (No. 1 seed, clinched) host the New England Patriots. Denver advanced after a dramatic 33-30 overtime win over the Buffalo Bills in the divisional round, where Bo Nix threw for 279 yards and three TDs, and the Broncos' defense forced five turnovers (four from Josh Allen).
• NFC side: Details are emerging with teams like the Los Angeles Rams advancing past the Chicago Bears 20-17 in OT, setting up matchups. The Broncos are hosting the AFC title game at Empower Field, with Super Bowl LX on the line soon after.
• Viewership note: The Broncos-Bills divisional game was the most-watched Saturday NFL playoff game ever, peaking at over 51 million viewers.
• The league is also in discussions with President Trump, as commissioners from the NFL, NBA, NHL, and MLB are set to meet at the White House to discuss plans for America's 250th anniversary celebrations in 2026.

So How Profitable Is CNN?

CNN is projected to generate $1.8 billion in revenue in 2026, according to newly disclosed figures from its parent company, Warner Bros. Discovery (WBD). 

This comes amid a major corporate restructuring where WBD is splitting into two entities: one involving high-growth assets like studios, HBO, and the HBO Max streaming service (being sold to Netflix), and the other spinning off most cable networks, including CNN, into a new public company.

Profitability, measured as adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), is forecasted at about $600 million for 2026. This represents a significant decline from CNN's peak profitability a decade ago, when it approached $1 billion in gross profit during high-viewership periods like the 2016 election cycle.

Revenue is expected to grow steadily in subsequent years, driven by shifts to streaming and subscriptions (such as CNN's All Access service launched last fall at $6.99/month), which are anticipated to offset declines in traditional cable and advertising income. 

WBD's filing indicates core linear TV revenue for CNN will drop at a compound annual rate of about -4% through 2030, but "new platform revenue" from digital and streaming is projected to reach around $600 million by 2030.

The detailed year-by-year forecasts from the SEC proxy filing are:

• 
  2026: $1.8 billion in revenue, ~$600 million EBITDA
• 2027: $1.9 billion in revenue, $500 million EBITDA
• 2028: $2 billion in revenue, $600 million EBITDA
• 2029: $2.1 billion in revenue, $600 million EBITDA (stagnant thereafter)
• 2030: $2.2 billion in revenue, $600 million EBITDA

This upward revenue trajectory contrasts sharply with other traditional cable networks under WBD (excluding CNN), where U.S. networks are projected to see revenue fall from $9.9 billion in 2026 to $7.7 billion by 2030, with EBITDA dropping from $3.8 billion to $1.9 billion over the same period.

These projections highlight CNN's pivot toward digital transformation as a key differentiator in an era of declining linear TV audiences and cord-cutting, even as overall profitability remains below historical highs and faces pressure from shrinking traditional streams. The disclosures, made public for the first time in years as part of the restructuring proxy, aim to provide transparency to investors evaluating the upcoming split.

Judge Blocks DOJ From Analyzing Reporter's Devices

Hannah Natanson

A federal judge has temporarily blocked the Justice Department from reviewing any materials seized from Washington Post reporter Hannah Natanson's electronic devices.

U.S. Magistrate Judge William B. Porter granted the newspaper's request for a "standstill order" on Wednesday, shortly after The Post filed an emergency motion. He ordered that the government "must preserve but must not review" the seized materials until the court issues further authorization. Oral arguments are scheduled for February 6.

The ruling follows an FBI raid on Natanson's home last week, during which agents seized two phones, two laptops, a Garmin watch, a portable hard drive, and a recording device. The search warrant relates to an investigation into Aurelio Luis Perez-Lugones, a government contractor with top-level security clearances who was arrested on January 8 and charged with illegally retaining classified documents.

The Washington Post condemned the seizure as a violation of First Amendment protections for free speech and a free press, as well as federal safeguards for journalists. In court filings, the newspaper argued that an unrestrained search of a reporter's newsgathering tools threatens source confidentiality, attorney-client privilege, and press freedom, and demanded the immediate return of all seized items.

Natanson has not been accused of any wrongdoing. It is not a crime in the U.S. for journalists to receive or report on leaked classified information, even if the source faces charges.

The raid drew widespread criticism as government seizures of reporters' records are exceedingly rare. FBI Director Kash Patel and Attorney General Pam Bondi have publicly alleged that Perez-Lugones leaked classified Pentagon files to a Washington Post journalist. 

However, court documents charge him only with unlawful retention of classified materials—not with leaking them to the media.

The Post filed the motions in the U.S. District Court for the Eastern District of Virginia after learning that substantive review of Natanson's devices could begin this week. The standstill order maintains the status quo while the court considers the broader issues.