Universal Music Group Tops Revenue Forecasts

Universal Music Group (UMG) reported third-quarter revenue of €3.02 billion on October 30, 2025, up 5.3% year-over-year and beating analyst expectations of €2.95 billion, driven by a surge in physical album sales from Taylor Swift’s latest release and strong contributions from its global artist roster.

The world’s largest music label saw adjusted EBITDA rise 7% to €594 million, with margins improving to 19.7%. Growth was broad-based: recorded music revenue climbed 8.3% at constant currency, fueled by a 23.1% jump in physical sales to €341 million—largely due to Taylor Swift’s The Life of a Showgirl—and 8.7% growth in subscription streaming. Music publishing soared 13.6% at constant currency, boosted by digital and K-pop-related gains.

UMG artists dominated global charts, holding 54% of the top 50 songs worldwide. CEO Lucian Grainge credited the company’s “superfan” strategy—emphasizing exclusive content, merchandising, and direct-to-consumer engagement—for sustaining momentum. 

Key performers included Swift, Sabrina Carpenter, Billie Eilish, Chappell Roan, and catalog acts like BTS.

Year-to-date revenue reached €8.7 billion, up 6.1%. Despite streaming slowdowns in ad-supported tiers, UMG reaffirmed its 8–10% annual growth target for subscription streaming. Shares rose ~2% in after-hours trading.

Physical formats are seeing a revival, particularly in Japan and among high-value collectors, while publishing and merchandising provide diversification. UMG continues to outpace the industry, reinforcing its leadership in a maturing global music market.

CPB: NPR Suit Is An “Conspiracy Theory”

The Corporation for Public Broadcasting (CPB) is defending its award of nearly $58 million to a new nonprofit for distributing public media content in the U.S., dismissing National Public Radio's (NPR) legal challenge as an “over-caffeinated conspiracy theory.”

Radio World was first to report that in a federal court filing this week, CPB urged Judge Randolph Moss to deny NPR's bid for summary judgment and an injunction, calling NPR's claims of retaliation to curry favor with the Trump administration “ridiculous,” “overblown,” and “demonstrably false.” 

CPB insists the allegations contradict Congress's intent and lack legal merit.

The dispute arose from CPB's late-September decision to grant $57.9 million over five years to Public Media Infrastructure (PMI), a new consortium tasked with managing public radio distribution through 2030 via the Public Radio Satellite System (PRSS). PMI comprises American Public Media Group, the National Federation of Community Broadcasters, New York Public Radio, Public Radio Exchange (PRX), and the Station Resource Group.

NPR alleges CPB rushed the grant to PMI out of “desperation” to deliver a “win” for the Trump administration amid threats to CPB funding, driven by the administration's “intense dislike” for NPR. It cites an April 2025 meeting with a senior U.S. Office of Management and Budget official who voiced disdain for NPR, claiming this triggered CPB's abrupt reversal—motivated by politics, not fiscal or governance issues.

CPB counters that no evidence shows any government official ever directed, suggested, or encouraged action against NPR. It highlights years of expert warnings against NPR's “sole and exclusive control” over PRSS interconnection funds, deeming it a “de facto monopoly” contrary to the public interest.

CPB says it repeatedly urged NPR to negotiate a transition to independent management but NPR showed “no interest.” 

Chicago Radio: WGN News Anchor Steve Bertrand To Sign-Off

Longtime WGN Radio news anchor Steve Bertrand is retiring on November 13, capping a 40-year career at the Chicago station. Hired in 1985 and celebrating his 40th anniversary this past June, Bertrand has been a trusted voice for generations of listeners and colleagues, renowned for his crisp news reporting and lighthearted on-air banter.

“From his start at WGN Radio in 1985 during the Wally Phillips era to anchoring news on the Lisa Dent Show today, Steve has upheld the highest standards of journalistic integrity over 40 remarkable years, blending it with his signature playful banter that will be deeply missed by colleagues and listeners alike,” said WGN Radio Vice President and General Manager Mary Sandberg Boyle.

Bertrand joined as an intern before securing a full-time role and advancing to the anchor desk in 1992. Throughout his career, he collaborated with Chicago broadcasting icons such as Wally Phillips, Roy Leonard, Spike O’Dell, Kathy O’Malley, and Judy Markey. Alongside O’Malley and Markey, he played a key role in developing the engaging conversational style of “The Girlfriends.”

Steve Bertrand

“I feel like the luckiest guy in radio history. As a kid, I dreamed of living in Chicago one day—I never imagined I’d become part of its daily conversation,” Bertrand said. “I’ll always be grateful to the legends I worked with and, above all, the listeners who made it possible. It’s been an honor to be part of this incredible family for 40 years.”

WGN Radio host John Williams highlighted Bertrand’s lasting influence. “Our loss is Steve’s—and his family’s—gain. But we’re really going to miss him. He’s been the steady, warm, and insightful voice of Chicago radio for so many years. If he won’t be on our shows anymore, I hope he’ll call in. Chicago could use more Steve Bertrands,” 

Williams said.Bertrand also spent six years on the road with the Chicago Bears while WGN served as the team’s flagship station, producing coverage and conducting locker-room interviews with Coach Mike Ditka. Over four decades, he covered pivotal events like the death of Mayor Harold Washington, the 1990 Plainfield tornado, the Oklahoma City bombing, the 9/11 attacks, and Al Gore’s decision on election night 2000 not to concede. He’s also nationally known for his author interviews.

Omaha Radio: KFAB's Gary Sadlemyer Sets Retirement

iHeartMedia Omaha has announced that veteran NewsRadio 1110 KFAB personality Gary Sadlemyer will retire from his regular morning show and full-time radio duties, effective Friday, December 12, 2025.

Inducted into the Nebraska Broadcasting Association’s Hall of Fame in 2011, Sadlemyer began his KFAB career in Omaha in December 1976. 

Gary Sadlemyer

Over nearly 50 years with the station, he anchored KFAB’s Morning News for more than three decades, launched the first live daily talk show in the station’s century-long history, and served for several years as Program Director.

“Time sure flies when you’re havin’ fun,” Sadlemyer said. “Since I was a kid growing up in Minnesota, I had a passion for radio. It’s just like anything else—kids dream of being a doctor or whatever; mine was radio.”

His morning co-hosts of the past 25 years, Jim Rose and Lucy Chapman, will continue anchoring the station’s early-morning commitment to news, weather, traffic, sports, and engaging discussions on issues that matter to the community.

Mid-morning talk host and current KFAB Program Director Scott Voorhees, an Omaha native, will join Rose, Chapman, and morning news anchor Craig Evans.

Philly Radio: Colleagues, Musicians and Listeners Mourn Loss

Philadelphia radio icon Pierre Robert, a fixture on 93.3 WMMR for more than 40 years, died unexpectedly at his home on Wednesday at age 70.

According to Fox 29, musicians from across Philadelphia's scene and beyond joined his longtime co-hosts in mourning and celebrating his enduring impact.

What they're saying:  WMMR's Preston Elliott and Steve Morrison appeared on Good Day Philadelphia Thursday, describing the loss as devastating.

"It hit us like a ton of bricks," Preston said. "It was sudden and unexpected, and we're struggling."

The duo dedicated their Thursday show to listener tributes. Morrison highlighted Robert's deep connection with fans.

"He took time with everyone," Morrison said. "Whether it was 150 people or 1,000, he stayed until the last one. He remembered names, asked about your life—he genuinely cared.

"That warmth extended to artists. Jon Bon Jovi called Robert a "great friend" who championed local talent and emerging acts.

"The station was lucky to have him. We were lucky to have him as our musical guide. I was lucky to call him a friend," Bon Jovi posted on Facebook.

What we know:   Robert, 70, was found dead Wednesday after missing his mid-morning show, which airs right after Preston and Steve.  Preston noted Robert often ran on "Pierre Standard Time" and joked about it, so initial lateness raised no alarm.  By 11:45 a.m., during a post-show meeting, worry set in. Producer Ryan went to Robert's home, found the door locked and his car in the driveway, and called police, who entered and discovered him deceased.

Colleagues said Robert had no known health issues—he was fit and hit the gym daily."There was no illness; we don't know the cause," Preston said. "That's the question everyone has, and we'll learn eventually, but right now we don't."

Radio History: Oct 31

➦In 1912...actress & singing cowgirl Dale Evans was born as Lucille Wood Smith in Uvalde, TX (Died of congestive heart failure at age 88 – February 7, 2001) She was the third wife of singing cowboy Roy Rogers.

She had a tumultuous early life. Her name was changed to Frances Octavia Smith while she was still an infant. She spent a lot of time living with her uncle, Dr. L.D. Massey, a general practice physician, in Osceola, Arkansas. At age 14, she eloped with and married Thomas F. Fox, with whom she had one son, Thomas F. Fox Jr., when she was 15. A year later, abandoned by her husband, she found herself in Memphis, Tennessee, a single parent, pursuing a career in music. She landed a job with local radio stations (WMC and WREC), singing and playing piano. Divorced in 1929, she took the name Dale Evans in the early 1930s to promote her singing career.

➦In 1942..."White Christmas" by Bing Crosby hit No. 1 on the pop singles chart for the first time.

➦In 1942...CBS radio debuted 'Thanks To The Yanks', a wartime themed game show starring Bob Hawk, the quizmaster who had introduced Take it Or Leave It to radio, the original $64 Question show.

➦In 1963...The Beatles returned to London from Sweden to be greeted by hundreds of screaming fans and a mob of photographers. Ed Sullivan happened to be at Heathrow, and was struck by the sight of Beatlemania in full swing. This was the day he determined to have the Fab Four appear on his Sunday night CBS TV variety show, thus introducing The Beatles to North America.

➦In 1968..'The War of the Worlds' was a radio drama, was aired by Buffalo, New York radio station Top40 WKBW 1520 AM.

It was a modernized version of the original radio drama aired by CBS in 1938.

WKBW program director Jefferson Kaye (d. 2012), a big fan of the original Orson Welles version from three decades earlier, wondered what The War of the Worlds would sound like if it was made using up-to-date (for 1968) radio news equipment, covering the "story" of a Martian invasion. Up until this point, most radio renditions of the 1938 broadcast were simply script re-readings with different actors or had minor variations to account for significantly different geographical locations. Kaye decided to disregard the original script entirely, move the action to Grand Island, New York, and use actual WKBW disc jockeys and news reporters as actors.

Paramount Makes Cuts, CBS Drops Some Streaming Efforts

Paramount Global (now Paramount Skydance), the parent company of CBS, began a major round of layoffs on Wednesday, affecting approximately 1,000 U.S.-based employees in the first wave, with another 1,000 cuts planned soon after—totaling about 2,000 jobs or roughly 10% of its workforce.

The layoffs cut across a broad swath of the company and included staff at CBS, cable channels including MTV, BET and Comedy Central, television production as well as the historic Melrose Avenue film studio, according to people familiar with the matter who were not authorized to comment.

Another 1,000 jobs are expected to be cut at a later date, ultimately bringing the total reduction to about 10% of Paramount’s current workforce, sources said.

At CBS News, about 100 people were forced out. The company pulled the plug on two digital newscasts, the unit’s Johannesburg bureau and several correspondents.

The layoffs stem from Paramount's $8 billion merger with Skydance Media, completed in August 2025, as new CEO David Ellison seeks $2 billion in cost savings through restructuring, eliminating redundancies, and refocusing on growth areas like tech, AI, sports, and film.

In an internal memo, Ellison wrote: "In some areas, we are addressing redundancies... In others, we are phasing out roles that are no longer aligned with our evolving priorities."

CBS laid off approximately 100 employees on October 29, 2025, as part of Paramount Skydance’s 2,000-job cut to achieve $2 billion in merger-related savings.

Programming casualties:

• Canceled CBS Mornings Plus and CBS Evening News Plus streaming shows.
• Overhauled CBS Saturday Morning, removing co-hosts Michelle Miller and Dana Jacobson.
• Closed Johannesburg bureau.
• Disbanded race & culture unit.

Armen Williams New Exec Director of 24/7 Sports Programming

Cumulus Media’s Westwood One has announced the appointment of Armen Williams as Executive Director of Westwood One Sports 24/7 Programming, where he will lead the development and production of the network’s new round-the-clock sports content. 

Williams officially joins the team on Monday, November 3, with an immediate focus on building and executing the 24/7 sports programming slate.

In his new role, Williams will oversee all aspects of sports talk content across the network, including daily technical operations, social media strategy, and brand management. He will build a talented team of hosts and producers responsible for compelling on-air programming—featuring original content, interviews, benchmarks, and fan interaction.

 

Armen Williams

Bringing more than 20 years of audio programming experience, Williams has a proven track record of guiding high-performing teams, crafting innovative content strategies, and strengthening brand presence in sports and talk formats. Prior to joining Westwood One, he held leadership roles at Audacy, Bonneville, and Townsquare, among others.

 
“There’s never been a more exciting time to be in audio—the industry is thriving, innovative, and constantly evolving,” said Williams. “This is a unique opportunity to build on the incredible foundation created by our partners at Audacy and BetMGM and combine it with the reach, heritage, and credibility of Westwood One Sports. I’m honored to help shape the next chapter, delivering smart, entertaining, and authentic sports content for listeners everywhere.”

 
Bruce Gilbert, SVP of Sports / Content & Audience, added: “Armen is a passionate and experienced leader who is the perfect choice to help us launch our first-class, all-sports network at Westwood One. His vision is exactly what we need to define a new era in national sports talk audio.”

John Flaherty Exits Yankees Broadcasts On YES Network

John Flaherty and Michael Kay

YES Network will not renew longtime Yankees analyst John Flaherty for 2026, part of a broadcast overhaul to spotlight David Cone, Paul O’Neill, and Joe Girardi on every telecast, sources told The Athletic.

Flaherty, 58, spent 20 years in the YES booth after catching for the Yankees (2003–05) during a 14-year MLB career. The network also parted ways with part-time analysts Jeff Nelson and Dave Valle. Cone, O’Neill, and Girardi—all champions from the 1990s–2000s dynasty alongside Derek Jeter and Mariano Rivera—will rotate as the primary voices. One or two will appear in every game.

Flaherty learned of the decision Monday from executive producer Jared Boshnack. YES declined his contract option in August but could have re-signed him.

“I was kind of prepared for it,” Flaherty said. “It quickly went from reality to gratitude—what a great run: 20 years with the same network, right from retiring in 2006 into the booth.”

He called the end of a 38-year baseball chapter—from signing his first minor-league deal at 20—“exciting,” open to new broadcasting roles or ventures outside the sport.

The move addresses criticism of YES’s analyst rotation. Across town, SNY’s consistent trio of Gary Cohen, Ron Darling, and Keith Hernandez is widely regarded as MLB’s top local booth.

A YES spokesperson confirmed the departures of Flaherty, Nelson, and Valle.

SiriusXM Reports Sharp Net Income Turnaround

SiriusXM reported third-quarter revenue of $2.16 billion, surpassing analyst expectations but down 1% from the prior-year period. Net income reached $297 million, a sharp turnaround from a $29.6 billion net loss a year earlier.

Earnings per share came in at $0.84, beating forecasts and contrasting with a $8.74 loss in Q3 2024. The prior-year loss included a $3.36 billion noncash goodwill impairment tied to the Liberty Media transaction.

The satellite radio provider ended the quarter with 33 million total subscribers, reflecting a net loss of 40,000 paid users year over year. Monthly churn improved slightly to 1.6%, though the smaller base drove a $13 million drop in subscriber revenue.

In recent quarters, SiriusXM extended its deal with Andy Cohen, renewed with Megyn Kelly, and launched Stephen A. Smith on the platform. It also added hit podcasts Morbid and The MrBallen Podcast. Podcast advertising remained a standout, surging 50% year over year, while total ad revenue rose just 1%. The podcast gains helped counter weakness in music streaming ads (via Pandora, which SiriusXM owns).

On potential video podcast ads, Chief Content Officer Scott Greenstein highlighted “enormous growth” on YouTube and referenced Spotify’s Netflix partnership.

“With our lineup of content, there’s no shortage of opportunity where we’ll go in video right now,” Greenstein said. “We like the way we’re monetizing. We’re flexible. We can have video behind the paywall. We can have video with YouTube or any distribution partner.”

CEO Jennifer Witz added: “Most of our engagement, of course, is in the car, right? And we believe we still have lots of opportunity with audio in the car, but that video is a great complement. And to the extent we can work, like Scott said, with other partners, especially where we’ve seen success with YouTube, it gives us a real opportunity to build complementary engagement outside of the car, and even promote back to SiriusXM content in audio in the car.”

Cumulus Reports Sharpe YoY Net Revenue Decline

Cumulus Media Inc. has announced its third-quarter 2025 earnings results on Thursday prior to the opening of U.S. markets, reporting net revenue of $180.3 million for the quarter ended September 30, 2025—reflecting a sharp 11.5% year-over-year decline from $203.7 million in Q3 2024.

The revenue drop was primarily driven by persistent weakness in the broadcast radio and network segments amid a challenging advertising environment for legacy media, including soft national spot demand and lower political ad spending compared to the prior year (Q3 2024 political revenue: $6.4 million). Total digital revenue edged down 2.6% to $39.0 million (22% of total revenue), though digital marketing services—a key growth area—surged 34% year-over-year and now comprise 50% of digital revenue.

Adjusted EBITDA fell 31% to $16.7 million from $24.2 million, reflecting revenue pressure and higher operating costs, while the company posted a net loss of $20.4 million (or $1.17 per share), wider than the $10.3 million loss in Q3 2024.

President & CEO Mary G. Berner stated: "In an advertising environment that remained challenging for legacy media, we continued to outperform. We once again gained market share in total broadcast spot as well as in digital, where our market share gains reflected the strong growth of our digital marketing services business, which was up 34% in the quarter."

Fox Reports 5% Bump in Revenue

Fox Corporation announced its fiscal first-quarter 2026 earnings results on Thursday, October 30, 2025, prior to the opening of U.S. stock markets, reporting a 5% year-over-year increase in total revenue. The company generated $3.57 billion in revenue for the quarter ended September 30, 2025, compared to $3.39 billion in the same period last year.

The bulk of the growth came from the Advertising segment, which rose 7% to $1.78 billion, fueled by strong performances at Tubi, Fox’s free ad-supported streaming television (FAST) service, and the return of NFL programming on the Fox broadcast network.  Tubi delivered double-digit ad revenue growth, driven by increased viewership, expanded advertiser demand, and continued expansion of its content library. 

Lachlan Murdoch

Meanwhile, NFL broadcasts benefited from higher ratings and renewed sponsorship deals following the league’s return after the prior-year writers’ and actors’ strikes had disrupted some sports-related advertising.

Affiliate revenue (fees paid by cable, satellite, and virtual MVPDs) grew a more modest 3%, supported by contractual rate increases, though partially offset by ongoing cord-cutting trends.

Other revenue, including content licensing and political advertising at Fox News, remained relatively flat.

• Adjusted EBITDA rose 9% to $1.02 billion, reflecting disciplined cost management and operating leverage from higher ad volumes. 
• Net income attributable to Fox Corporation was $623 million, or $1.38 per share, up from $590 million, or $1.25 per share, a year ago.

CEO Lachlan Murdoch highlighted Tubi’s momentum, noting it reached 82 million monthly active users and continues to gain share in the FAST category. He also emphasized the NFL’s role as a cornerstone of Fox’s linear broadcast strategy, with the network securing strong upfront ad commitments for the 2025–2026 season.

Comcast 3Q Profit Falls 8%, Media Revenue Drops 20 Percent

Comcast beat Wall Street’s Q3 earnings and revenue expectations on Thursday, despite losing broadband subscribers for the fourth straight quarter.

It dropped 104,000 U.S. broadband customers, ending with ~31.4 million—flat growth amid fierce 5G competition. Comcast rolled out growth plans earlier this year and, after the upcoming Versant spin-off of cable networks, will lean harder on connectivity under co-CEOs Brian Roberts and Mike Cavanagh.

Xfinity (broadband, cable, mobile) and NBCUniversal still topped forecasts:

• Adj. EPS: $1.12 vs. $1.10 est.
• Revenue: $31.2B vs. $30.70B 
• est.Net income fell 8% to $3.33B ($0.90/share) from $3.63B ($0.94) YoY.
• Total revenue down ~3% to $31.2B from $32.1B.
• Connectivity & platforms (broadband/mobile/pay TV): $20.18B, –1% YoY.
• Mobile added a record 414K lines → 8.9M total, offsetting broadband weakness.
• Pay TV lost 257K subs → 11.5M remaining.

NBCUniversal’s cable networks (incl. CNBC) spin-out closes by year-end.

• Media revenue: $6.6B, –20% YoY; +4% ex-Olympics.
• Peacock: 41M subs (flat 3Q), losses cut to $217M from $436M.
• Studios: +6% to $3B on Jurassic World Rebirth.
• Theme parks: +19% to $2.72B; EBITDA +13% to $958M on Epic Universe launch.

TV Ratings: FNC Marks 42 Consecutive Weeks Leading Cable Television

During the week of October 20-26, FOX News Channel (FNC) marked 42 consecutive weeks leading all of cable television with total day. 

Compared to the cable news competition, FNC once again outpaced CNN and MSNBC combined in all categories, also reaching triple-digit advantages across the board. 

In primetime (8-11 PM/ET), FNC earned 2.3 million viewers and 216,000 in the 25-54 demo, commanding all of cable with viewers. In total day (6AM-6AM/ET), FNC posted 1.5 million viewers. The Five was the top show of the week, securing 3.6 million viewers, while Gutfeld! was most watched among the 25-54 demo (311,000 A25-54). FNC delivered 63% share with total day viewers and 65% with primetime viewers across cable news.

The Five averaged 3.7 million viewers and 301,000 in the 25-54 demo, leading cable news with viewers. At 6 PM/ET, Special Report with Bret Baier drew 2.8 million viewers and 257,000 in the 25-54 demo. The Ingraham Angle saw 2.5 million viewers and 241,000 in the 25-54 demo at 7 PM/ET. Jesse Watters Primetime commanded 3 million viewers and 279,000 in the 25-54 demo at 8 PM/ET. At 9 PM/ET, Hannity posted 2.6 million viewers and 241,000 with A25-54. At 11 PM/ET, FOX News @ Night secured 1.4 million viewers.

FNC’s late-night hit Gutfeld! (weekdays, 10 PM/ET) averaged 2.8 million viewers and 312,000 in the 25-54 demo, continuing to outpace the broadcast competition including CBS’ Late Show with Stephen Colbert (2.2 million viewers), NBC’s The Tonight Show with Jimmy Fallon (1.1 million viewers) and Late Night with Seth Meyers (763,000 viewers).

FNC continued to see its daytime programs outpace the broadcast competition. The Will Cain Show (weekdays, 4 PM/ET; 2.1 million viewers) and America’s Newsroom (weekdays, 9-11 AM/ET; 1.9 million viewers) outranked NBC’s Today Third Hour, while The Faulkner Focus (weekdays, 11 AM/ET; 1.9 million viewers) and Outnumbered (weekdays, 12 PM/ET; 1.9 million viewers) drew more viewers than CBS Mornings (1.8 million viewers). The Story (weekdays, 3 PM/ET; 1.8 million viewers) and America Reports (weekdays, 1-3 PM/ET; 1.8 million viewers) both led NBC’s Today with Jenna and Friends (1.3 million viewers), ABC’s GMA3 (1.3 million viewers) and NBC News Daily (1.3 million viewers).

➤Ratings Graphics Courtesy of RoadMN

On Saturday: Kayleigh McEnany’s Saturday in America (Saturday, 10 AM - 12 PM/ET) continued its reign as the most-watched cable news show of the day, notching 1.5 million viewers. FOX & Friends Weekend (weekends, 6-10 AM/ET) followed with 1.2 million viewers. In primetime, Life, Liberty & Levin (weekends, 8 PM/ET) and My View with Lara Trump (Saturday, 9 PM/ET) each drew 1.1 million viewers.

On Sunday: Maria Bartiromo’s Sunday Morning Futures (Sunday, 10 AM/ET) was the number one cable news show of the day with 1.7 million viewers. The Sunday Briefing, anchored by Jacqui Heinrich, who was live in Kuala Lumpur, garnered 1.3 million viewers. Sunday Night in America with Trey Gowdy nabbed 1.2 million viewers and The Big Weekend Show (weekends, 5-8 PM/ET) saw 1.1 million viewers.

Source: Nielsen. Big Data + Panel. Week of 10-20-25 ratings data. Average audience for cable news networks Monday-Sunday based on Total Day and Prime (6a-6a, 8P-11P), P2+, P25-54. Cable News/Broadcast Program averages exclude repeats and include the corresponding program name.

📺BROADCAST EVENING NEWS

CBS Evening News stood out for the week of October 20, posting double-digit growth in total viewers across its five airings. The gains were tempered, however, by co-host John Dickerson's announcement that he will leave the broadcast and the network at year's end.

ABC World News Tonight was the only evening newscast that failed to grow in the Adults 25-54 demo.

Per Nielsen live-plus-same-day national ratings:

• ABC World News Tonight with David Muir: 7.864 million total viewers (+3% week-over-week; +7% vs. same week in 2024) and 925,000 A25-54 viewers (flat w/o-w; -11% y-o-y). It was the lone newscast to grow in just one of the two metrics year-over-year.
• NBC Nightly News with Tom Llamas: 5.843 million total viewers (+3% w/o-w; flat y-o-y) and 803,000 A25-54 viewers (+8% w/o-w; -12% y-o-y). Second place in both categories.
• CBS Evening News: 4.090 million total viewers (+12% w/o-w; -5% y-o-y) and 457,000 A25-54 viewers (+6% w/o-w; -26% y-o-y).

TV Ratings: NFL Continues Strong Pacing

NFL ratings are soaring through Week 8 of the 2025 season, with CBS and NBC on pace for their strongest starts in decades.

• NBC’s Sunday Night Football averages 24.7 million viewers across NBC and Peacock—its best eight-week start since 2006. Five games have already topped 25 million viewers, a series first this early.CBS’s Sunday afternoon package averages 18.61 million viewers—the network’s strongest opening since 1998. October alone hit 19.07 million per game, CBS’s best month since 2015 and up 7% year-over-year.
• Fox leads all Sunday windows with 19.59 million viewers, its best start since 2015. Amazon’s Thursday Night Football averages 15.29 million, up 16% from last year and its strongest in four seasons.

League wide through Week 7:  NFL games average 17.6 million viewers—the best since 2015. Nielsen’s new “Big Data + Panel” measurement, launched in September 2025, adds 5–8% more viewers by capturing streaming and out-of-home viewing, though core growth remains strong even adjusted.

The NFL claimed 15 of September’s top broadcasts, pushing broadcast TV’s share of total viewing to 22.3%—the highest since January. High-profile matchups, star quarterbacks, and competitive games continue to drive the surge.

John Malone Stepping Down as Liberty Media Chairman

John Malone, the 84-year-old billionaire “Cable Cowboy,” is stepping down as chairman of Liberty Media and Liberty Global effective January 1, 2026, ending a 50-year reign that built the modern cable and media empires.

Robert R. “Dob” Bennett, a 35-year Malone associate, will succeed him at Liberty Media; CEO Mike Fries will take the chair at Liberty Global. 

Malone becomes Chairman Emeritus at both, retains his largest shareholdings, and stays an advisor at Liberty Media.

The move follows portfolio simplification—Liberty Media now centers on Formula 1, MotoGP, Live Nation, SiriusXM, and the Atlanta Braves—and follows Malone’s recent exits to emeritus roles at Warner Bros. Discovery (2025) and Charter (2024).

Malone called the timing ideal, saying of Liberty Media: “With our portfolio simplified and businesses strong, it’s time to step back,” and of Liberty Global: “Never dull and a lot of fun.” 

He insists, “I’m not retiring from business,” and will keep personal ventures and Braves ownership.

Successors praised his unmatched legacy; analysts flag possible F1/MotoGP sales. The announcement, made October 29, 2025, is widely called the “end of an era” in media and telecom.

FOX Business Network Beats CNBC Across the Board

FOX Business Network (FBN) closed October 2025 once again surpassing CNBC among business day and market hours for the sixth straight month and total day viewers for the 19th consecutive month, according to Nielsen Media Research. 

Notably, the network posted wins each weekday from 6 AM-8 PM/ET with viewers for the fourth consecutive month, while CNBC saw network lows in prime with the 25-54 demo and its lowest rated month since 1992 with viewers. Kudlow and Varney and Co. remained the top two business programs for the month.

 During October, viewers turned to FBN for business news throughout the ongoing government shutdown. The network outranked CNBC in business day and market hours with viewers for the sixth straight month. In business day, FBN scored 219,000 viewers, a 51% advantage over CNBC, while the network saw 214,000 viewers, a 46% advantage over CNBC with market hours. FBN also beat CNBC with total day viewership for the 19th straight month with 129,000 viewers, a 43% advantage over CNBC.

FBN’s three-hour market-opener Varney & Co. (9 AM-12 PM/ET) was the number one business news program in October, crushing CNBC’s Squawk on the Street/Money Movers for the 44th consecutive month notching a 78% difference with 267,000 total viewers. Meanwhile, Larry Kudlow’s eponymous Kudlow (4 PM/ET) followed, defeating CNBC’s Closing Bell with a 98% advantage, drawing 258,000 viewers. October marked the program’s 49th consecutive monthly win with viewers.

Maria Bartiromo’s Mornings with Maria (6-9 AM/ET) drew 117,000 viewers across its three hours, marking its sixth consecutive monthly win over CNBC’s Squawk Box and delivering a 50% advantage. All of FBN’s additional core programs dominated with double-digit advantages over CNBC. The Big Money Show (12-2 PM/ET; 182,000 viewers) saw a 21% advantage over Fast Money Halftime Report, Making Money with Charles Payne (2 PM/ET; 161,000 viewers) nabbed a 25% advantage over Power Lunch and Liz Claman’s The Claman Countdown (3 PM/ET; 170,000 viewers) delivered a 14% advantage over Closing Bell and all secured a spot in the top 10 business programs on television with total viewers.

During post-market coverage, FBN’s The Evening Edit (5 PM/ET; 183,000 viewers) held a 71% advantage over CNBC’s Fast Money. FBN’s The Bottom Line (6 PM/ET; 139,000 viewers) marked a 49% advantage over Mad Money. On Fridays, Maria Bartiromo’s Wall Street (Fridays, 7-7:30 PM/ET; 90,000 viewers) posted a 50% advantage over CNBC’s Shark Tank. Barron’s Roundtable (Fridays, 7:30-8 PM/ET; 65,000 viewers) captured 5% year-over-year growth compared to October 2024.

Google Revenue Soars to Record

Alphabet (Google's parent company) released its blockbuster Q3 2025 earnings Wednesday, marking the first time ever its quarterly revenue topped $100 billion—hitting $102.35 billion, up 16% year-over-year (YoY) and beating Wall Street estimates of ~$99.9–$100.1 billion.

YouTube ad revenue: $10.26 billion, surging 15% YoY from $8.92 billion—and topping analyst estimates of $10.01–$10.03 billion. This is YouTube's second straight quarter over $10B in ads (after Q4 2024's $10.47B), fueled by strong demand for Shorts (now nearing monetization parity with long-form videos), Premium/TV subs, and AI-driven engagement.

Google's total advertising revenue (including YouTube + Search/Network): $74.18 billion, up 12.6% YoY from $65.85 billion—also crushing estimates (~$71.8–$72.5B).

Google for years has been working to cut costs to help fund its spending on AI.

YouTube this week told employees it plans to reorganize the unit’s leadership and offer voluntary severance for some U.S. employees, according to an internal memo. The memo was first reported by tech publication Sources.

Several other divisions within Google, including search and advertising, have also offered employees voluntary severance packages this year.