ABC Unveils New Anchors For GMA3

Eva Pilgrim and DeMarco Morgan

ABC News has announced the two news anchors for Good Morning America five months after Amy Robach and TJ Holmes were pulled off air over their affair.

Eva Pilgrim and DeMarco Morgan will co-anchor the afternoon segment GMA3 - which runs in the third hour of the network's morning show. They will join Dr Jen Ashton, who's been on the show since 2020.

Robach, 50, and Holmes, 45, were officially pulled from ABC's airwaves in January after DailyMail.com revealed that both the married co-anchors were lovers.

Pilgim and Morgan are among the anchors that have filled in over the last six months. Pilgrim has hosted the weekend edition of GMA since 2018, while Morgan has been a correspondent for the show since last year.

GMA3 started as GMA Day in 2018, an afternoon spin-off of the morning show, hosted by Michael Strahan and Sara Haines. During the pandemic it was rebranded as GMA3: What You Need to Know.

On December 5, 2022, Holmes and Robach were temporarily suspended after DailyMail.com revealed they had been in an affair for the past six months.  After eight weeks of rampant speculation - and the pair openly gallivanting around NYC together - ABC announced they had been fired.

Houston Radio: Jay Michaels Named APD At KHMx and KKHH

Audacy welcomes Jay Michaels as assistant brand manager of Mix 96.5 (KHMX-FM) and 95.7 The Spot (KKHH-FM) in Houston. Michaels will also host middays on Mix 96.5.

Jay Michaels

“Jay's experience, passion for programming and creativity in radio brand marketing stations make him a great fit for Audacy Houston,” said Melissa Chase, vice president of programming, Audacy Houston. “We are so excited to have him join our team!”

“From the first time I spoke to Melissa Chase and Sarah Frazier, I knew this is where I wanted to be,” said Michaels. “The culture and environment that they've built in Houston is amazing! KHMX is an iconic station and I’m still pinching myself that I’ll get to be a part of it. I’m so excited to join an innovative and audio-first company like Audacy.”

Michaels joins Audacy after spending the last 11 years with Cumulus Media, beginning at Cumulus Indianapolis programming WJJK and WRWM, and most recently as operations manager for the company’s five-station cluster in Shreveport, LA. Previously, he served as program director of KQHN and KRMD and morning show host on KQHN and stations in Providence, RI, Lexington, KY, Boise, ID and Cincinnati, OH. Other prior radio stops include Alpha Media Louisville and Midwest Communications in Terre Haute, IN and Evansville, IN.

BetQL Net Launching 'The Bettor Angle'

Camron and Kate

Audacy announced the launch of “The Bettor Angle,” a new show that takes fans of BetQL Network behind the numbers and uncovers the stories that shape the games.

 

Hosted by sports betting experts Kate Constable and Camron Smith, the show offers a fresh perspective on the world of sports betting and provides viewers with the tools they need to make smarter bets. “The Bettor Angle” will air Saturdays from 4:00 p.m. to 7:00 p.m. ET and be available nationwide via the Audacy app and Twitch beginning May 13.

Portland ME Radio: Krissy Takes Over Mornings On WJBQ

Townsquare Media has announced that popular Portland personality Krissy T will take the morning host reins at the market’s Top 40 station, 97.9FM WJBQ. She joins from Hot Adult Contemporary WMGX-FM.

Krissy says, “The opportunity to come back home and take over a 20+ year legacy morning show as my own, and on such a heritage station, is not only an honor but also so exciting. I can’t wait to unapologetically overshare my life again with Maine!”

Ms. T takes over for 21-year morning mainstays Jeff Parsons and Lori Voornas, who migrate to Townsquare AC 94,9 WHOM hosting mornings staring May 15.

Market President Sarah Dobbins adds, “When you move one of the most successful morning shows in a generation, you better have an exciting replacement. One of Maine’s top media personalities, Krissy is joining the Townsquare Media family and will host ‘Krissy in the Morning’ on Q97.9. As one of Maine media’s top social media influencers, Krissy will bring her energy and personality to Maine’s legendary Q97.9. Our morning show lineup in Portland just got stronger.”

Q97.9 Brand Manager Jadd Naamani is ecstatic about the latest addition to his station: “I couldn’t be more excited to collaborate and crush it with this superstar giving Maine a new way to wake up every day!”

May 12 Radio History

➦In 1908...wireless Radio broadcasting was patented by Nathan B Stubblefield.

Nathan Stubblefield

Stubblefield (November 22, 1860 - March 28, 1928) was an American inventor and Kentucky melon farmer. It has been claimed that Stubblefield demonstrated radio in 1892, but his devices seem to have worked by audio frequency induction or, later, audio frequency earth conduction (creating disturbances in the near-field region) rather than by radio frequency radiation for radio transmission telecommunications.

He made public demonstrations of voice and music transmission to five receiving locations on the courthouse square in Murray on January 1, 1902, witnessed by at least 1,000 people, apparently using voice frequency transmission through earth conduction, to a radius of one-half mile. Later he demonstrated wireless telephony in Washington, D.C. on March 20, 1902, where voice and music transmissions were made over a third of a mile from the steamer Bartholdi to shore. He demonstrated wireless telephony as well in Philadelphia on May 30, 1902 to a distance of a half mile. His experiments were discussed in leading scientific journals.

In 1903, he could transmit 375 feet without earth connections, using induction. In 1904, he could transmit 423 yards. The total wire required for the transmitting and receiving coils was of a greater length than what would be required to simply interconnect the transmitter and receiver, but the invention would allow mobility.

By 1907, with a 60-foot transmitting coil, he could work 1/4 mile or 1,320 feet "nicely." On May 12, 1908, he received U.S. patent 887,357 for his Wireless Telephone, using the voice frequency induction system. He said in the patent that it would be useful for "securing telephonic communications between moving vehicles and way stations". The diagram shows wireless telephony from trains, boats, and wagons. In foreign patents he showed wireless telephony with cars. However, there is no indication that he was using voice-modulated continuous high frequency waves, as used for radio today.

Stubblefield's inventions did not lead directly to radio as the technology works today, but the public demonstrations in 1902 and the press coverage in the New York Times, the Philadelphia Inquirer, the Washington Post, the Louisville Courier-Journal, Scientific American, and elsewhere helped to spur public interest in the possibilities of wireless transmission of voice and music. Most other inventors of the era sought to provide point-to-point messaging, to compete with telephone and telegraph companies.

Stubblefield in the 1902 was in a sense the "Father of Broadcasting", in that he said to the St. Louis Post Dispatch reporter in 1902, "..it is capable of sending simultaneous messages from a central distributing station over a very wide territory. For instance, anyone having a receiving instrument, which would consist merely of a telephone receiver and a signalling gong, could, upon being signalled by a transmitting station in Washington, or nearer, if advisable, be informed of weather news. My apparatus is capable of sending out a gong signal, as well as voice messages. Eventually, it will be used for the general transmission of news of every description".

Philly Radio: Legendary Personality John DeBella Announces Retirement

Longtime Philadelphia radio star John DeBella will retire from WMGK airwaves in June, The Philadelphia Inquirer reports the host made the announcement Thursday.

“I just feel it’s time,” DeBella wrote in an open letter declaring his decision to step back after 48 years on the air, and 21 years at WMGK. “My schedule has caused me to miss a lot of family time, and now it’s time to pay them back for all the games, dinners, and events I wasn’t around for.”

The morning show host said Thursday that he would stay with the station until the end of his contract on June 30, promising to “pack as much fun as I possibly can into the next eight weeks.”

DeBella, a New York native, came to Philadelphia in 1982, and helped pioneer WMMR’s “morning zoo” format. There, his morning show became the top-rated show in Philadelphia, and achieved the highest ratings in local radio history at the time, according to WMGK.

“Simply put, John DeBella has defined morning radio in Philadelphia for 40 years,” said Beasley Media Group Philadelphia Vice President and Market Manager Joe Bell. “He’s a true radio icon.”

DeBella posted his farewell letter on the WMGK wesbite Thursday Morning:

"After nearly 48 years on the air, 41 here in Philadelphia, and 21 of those at WMGK, I announced today that I have decided to retire at the end of my contract on June 30th.

"I just feel it’s time. When I came to Philadelphia in 1982, I would never have believed that I could have gone as far as I have here. I’ve been blessed with a magical life and a career beyond my wildest imagination…and I have you, my listeners, to thank for that.

"My schedule has caused me to miss a lot of family time, and now it’s time to pay them back for all the games, dinners, and events I wasn’t around for.

"My contract actually ended in December, but management and I agreed that it would be best for the station if I stayed 6 more months…so we still have some more time together.

"There has been a running joke that started 15 years ago when I was signing what I said was my last contract. I’ve signed that last contract 4 more times since then. But it’s time for that joke to end.

"I’m going to pack as much fun as I possibly can into the next 8 weeks and I’m hoping for the biggest Veterans Radiothon EVER!

"I hope you will be here for as much as you can because “YOU” are the most important element of the show.

John DeBella

 

Tucker Carlson: A Hard Sell for Twitter

Tucker Carlson’s announcement that he is moving to Twitter isn’t getting an enthusiastic reception on Madison Avenue, as many advertisers are already skittish about spending on the Elon Musk-owned social-media platform, reports the Wall Street Journal.

Carlson said Tuesday that he is launching a show on Twitter, just weeks after Fox News canceled his nightly telecast. Carlson was one of Fox’s most popular anchors, but his controversial brand of programming repelled blue-chip advertisers, and he was the target of organized advertiser boycotts.

Several ad buyers said the arrival of Carlson will make it even harder for Twitter—which has faced an exodus of advertisers—to lure brands back.

“Tucker’s transition to Twitter will terrify advertisers,” said Brendan Gahan, chief social officer at digital-ad agency Mekanism. Carlson’s move will “likely further taint Twitter’s image and keep advertisers away,” Mr. Gahan said.

After Musk’s $44 billion takeover of Twitter last year, many advertisers paused their spending out of concern that he might weaken content moderation, or because of the uncertainty surrounding the company’s direction under its new leadership. Advertising represented almost 90% of Twitter’s revenue in 2021, the last full year it publicly reported financial results, before Musk took the company private.

There have been some signs of improvement. In an April interview with the BBC, Musk said many advertisers had returned to the platform or indicated they planned to do so. Among the brands that have resumed spending on Twitter are Oreo maker Mondelez and pharmaceutical giant Eli Lilly, according to the companies.

Many other advertisers have remained on the sidelines, say top ad-buying executives. Companies such as General Motors, United Airlines and Boston Beer say they have kept in place a pause on Twitter spending.

Of the top 100 advertisers on Twitter before Musk bought the company, 37 spent nothing on Twitter advertising during the first quarter of this year, according to market-intelligence firm Sensor Tower, while an additional 24 brands reduced their average monthly Twitter ad spending by 80% or more.

A person close to Twitter said the company is betting that Carlson can help the platform draw and engage a bigger audience. His show might make it harder to persuade advertisers who left Twitter to return, the person said, but he doesn’t expect it to lead to a further exodus.

Court Voids NBA Suns’ New Deal To Leave Cable

A bankruptcy court ruled Wednesday that the Phoenix Suns cannot move forward with a radical new TV deal announced this month that would have taken the team’s games off local cable and moved them to broadcast TV and streaming services.

The Washington Post reports the court ruled that the Suns had not properly unwound their contract with Diamond Sports Group, the cable outlet that owns the rights to the team’s games. Diamond filed for bankruptcy protection earlier this year and owns the rights to 42 MLB, NHL and NBA teams.

The Suns’ deal would be landscape-changing for those leagues. For the past three decades, just about every MLB, MBA and NHL team has sold its local TV rights to what are known as regional sports networks. With those networks in crisis as a growing number of Americans have dropped cable in recent years, the Suns, along with the WNBA’s Phoenix Mercury, announced the boldest strategy yet to counter those trends. They signed the deal with Gray Television, owner of hundreds of broadcast TV stations around the country, and Kiswe, a start-up streaming platform.

After the Suns announced the new deals, Diamond filed suit to block them. Judge Christopher Lopez ruled that the deals violated the terms of Diamond’s bankruptcy filing, which placed a stay on all of its contracts as its finances are sorted out. Diamond has argued in court papers that the Suns also did not honor a right of first refusal to assess the Suns’ new deal and have an opportunity to match it. The Mercury’s deal with Gray and Kiswe is unaffected by the litigation.

TV Ratings: The Coronation Had The Big Audience

ABC’s coverage of Game 3 of the Lakers-Golden State Warriors Western Conference semifinal series was the week’s top-ranked program and drew the largest audience for an NBA conference semifinal game since 2011. The Lakers’ 127-97 victory Saturday averaged 8.373 million viewers, the most for a Game 3 of a conference semifinal series since 1999, according to The L-A Times citing  live-plus-same-day figures released by Nielsen.

The first two games were second and third in prime-time ratings. TNT’s coverage of the Lakers’ 117-112 victory in Game 1, Tuesday, averaged 7.365 million viewers, the most for a Game 1 of a conference semifinal series in the history of cable television, second among prime-time programs airing between May 1 and Sunday and first among cable programs, despite starting at 10:13 p.m. Eastern Daylight Time.

ESPN’s coverage of Golden State’s 127-100 victory in Game 2, Thursday, averaged 7.352 million viewers, third for the week and second among cable programs.

Nielsen estimates that the Coronation of King Charles III, airing on 11 networks beginning at 2 a.m. Saturday and continuing into the early morning, had an audience of 10.3 million viewers in the U.S. This was a larger audience than all prime-time programs for the week. Compared to historical Television viewing of other notable British royal events the audience was smaller than:

• Queen Elizabeth II’s funeral, Sept. 19, 2023: 11,363,000
• Prince William and Kate Middleton’s royal wedding, April 29, 2011: 22,766,000
• Prince Harry and Meghan Markle’s royal wedding, May 19, 2018: 29,185,000
• Princess Diana’s funeral, Sept. 6, 1997: 33,252,000

According to TVNewser,  Saturday, May 6, 2023, ABC News ranked No. 1 in the key target measurements: Total Viewers (3.04 million) and Adults 25-54 (688,000) making it the No. 1 U.S. network for coronation coverage from 6-10 a.m. ET across both broadcast and cable. ABC’s live coronation coverage out-delivered live coronation coverage on NBC (2.72 million, 538,000 respectively) and CBS (1.58 million, and 276,000 respectively).

On the cable side, CNN averaged 972,000 total viewers and 173,000 Adults 25-54; Fox News averaged 1.60 million total viewers and 160,000 Adults 25-54; MSNBC averaged 694,000 total viewers and 77,000 Adults 25-54.

CBS had each of the week’s five top non-sports programs to be the win the network battle for the eighth consecutive week, the 11th time in 12 weeks and 13th time in the last 15, averaging 4.39 million viewers.

“60 Minutes” was CBS’ ratings leader, averaging 7.234 million viewers, fourth for the week and first among non-sports programs. “Young Sheldon” was the top entertainment program, averaging 7.137 million viewers, fifth for the week and second among non-sports programs.

The only times CBS has not finished first in the last 15 weeks were the weeks of Feb. 6-13, when Fox aired Super Bowl LVII, and March 6-12, when ABC aired the Oscars.

ABC was second for the fourth consecutive week following four consecutive third-place finishes, averaging 4.12 million viewers. Its most popular non-sports program was “American Idol,” ninth for the week and sixth among non-sports programs, averaging 6.115 million viewers.

NBC was third among the broadcast networks for the fourth consecutive week after four consecutive second-place finishes, averaging 2.94 million viewers. “Chicago Fire” was its ratings leader, averaging 6.093 million viewers, 10th for the week and seventh among non-sports programs.

Fox averaged 1.99 million viewers for its 15 hours. The procedural drama “9-1-1” topped its ratings, averaging 4.174 million viewers, 36th for the week and 25th among non-sports programming. Each of the seven original episodes of “9-1-1” to air in 2023 have been at the top Fox’s prime-time programming each week.

The top 20 prime-time programs consisted of four NBA playoff games — two on ESPN and one each on ABC and TNT; eight CBS scripted programs, its news magazine “60 Minutes” and alternative series “Survivor”; the two editions of “American Idol” on ABC; NBC’s three “Chicago” series and its singing competition “The Voice.”

📺BROADCAST EVENING NEWS

Audacy To Continue Slashing Costs

After another quarter of declining revenue and soft advertising demand, top executives at audio content provider Audacy faced some tough questions from analysts Wednesday, according to The Philadelphia Business Journal.

Philadelphia-based Audacy experienced a revenue decline of 5.7% in the first quarter, with an operating loss of $12.2 million compared to operating income of $8.5 million during the same quarter last year. It reported adjusted EBITDA of $3.5 million and a net loss of $35.9 million in 1Q compared to $26 million in adjusted EBITDA and an $11 million net loss during the first three months of 2022.

The company also said the soft advertising demand that has been in place for the past year could get worse before getting better.

David Field

With that in mind, analyst Craig Huber of Huber Research directed pointed questions at CEO David Field and Chief Financial Officer Richard Schmaeling during the question-and-answer portion of Audacy’s first quarter earnings call.

“Why are costs not down a lot more?” Huber asked. “I know you are trying to preserve the company for the long term, but I’m worried you are not going to get to the medium term let alone the long term. Why are costs not down honestly by 10% right now?”

Schmaeling noted that in the first quarter, the company provided guidance that indicated costs would be down “slightly” for the year. It has now updated that guidance to say that costs will be down 4%, or by over $35 million. He said it is important to recognize that macroeconomic forces have changed since the pandemic year of 2020. He said the company was able to save on salaries and reduced sports broadcasting rights fees during that time because of canceled games. Now the employment market has become tighter and Audacy is “fiercely competing for talent, as are other companies,” Schmaeling said. He noted that costs have been cut by over $60 million since 2019.

“I wish I had a magic wand,” Schmaeling said, noting that the company is doing “everything we think is practical to mitigate persistent ad weakness.” He said there will be a few difficult quarters ahead but that the company is “doing everything appropriate and practical” to cut costs.

Huber said while the company might have cut costs by $60 million, it also experienced a $300 million decline in revenue since 2019. The analyst said he thinks with rising interest rates and inflation hampering advertising spend, the company is between a rock and a hard place.

Richard Schmaeling

Under questioning from Huber, Schmaeling said that, in addition to the $17 million gained from the sale of some radio towers and the pending $15.5 million sale of two radio stations that should close in the second or third quarter, Audacy is working on selling other assets that could net the company somewhere in the range of $20 million in savings.

Costing cutting, Field said, could include reduction in office space requirements, enhanced technology, and terminating certain sports broadcasting rights agreements. For example, Audacy recently chose not to renew its broadcasting rights for Chicago Bears games. In Philadelphia, Audacy-owned SportsRadio 94 WIP-FM broadcasts both Eagles and Phillies games.

Schmaeling also noted that Audacy might not be able to sustain compliance with its first lien covenant debt over the next 12 months. This led the company to include a disclosure about its ability to continue as a going concern in the footnotes to its financial statements in its first quarter 10-Q, which will be filed late Wednesday. Schmaeling said this will not impact day-to-day operations and is merely based on current projections of future operating results. He added that the company is meeting with lenders about moving forward with financing to manage its liabilities.

Audacy has more than 220 radio stations across the country, including six in Philadelphia.

5/11 WAKE-UP CALL: Trump Combative During CNN Town Hall

Donald Trump and Kaitlan Collins often got out of their chairs to go at each other in a tense 70-minute town hall on CNN on Wednesday night. The former president blasted Collins as a 'nasty person' slammed writer E. Jean Carroll for her rape accusation, refused to say he lost to Joe Biden in the 2020 election and defended the January 6th rioters. The former president blamed Nancy Pelosi for not securing the Capitol on the day of the riot and even pulled out notes of old tweets he posted that day.

Trump, 76, lost his temper with Collins, 31, when she pressed him as to why he had classified documents at Mar-a-Lago, his home in Palm Beach. The CNN anchor had a tough task keeping Trump on track in his appearance outside the conservative media bubble since 2020. The crowd at New Hampshire's St. Anselm College - made up of Republican primary voters and independent voters - cheered and applauded Trump's signature moves, which included name calling, taking out props, and dashing off quips at Collins. 'I like you guys,' Trump told them. 'We love New Hampshire.'

Former President Trump covered topics ranging from the 2nd Amendment to the debt ceiling in 70 minutes of tense questioning on CNN 

• When moderator Kaitlan Collins grilled him on why he took so long to return classified documents, Trump blasted her as a 'nasty person'
• Trump again denies knowing E. Jean Carroll as he responds to civil jury verdict - and mocks the name of her cat called 'vagina'
• Says he had 'every right' to take classified documents with him after leaving White House - and calls Collins a 'nasty person'
• Defends comments he made on 'Access Hollywood' tape, says he won't take it back
• Doesn't feel he owes former VP Mike Pence an apology for January 6 riot
• Trump pulls out tweets he sent during the Capitol Riot and says he will pardon suspects if elected again in 2024
• Trump again refuses to acknowledge that he lost the 2020 election
• Says he would accept 2024 election results if he believes 'it's an honest election'
• Trump says he will protect 2nd Amendment if he's reelected - and would do 'numerous things' to address mass shootings
• On debt ceiling: US should default if the White House does not agree to Republican spending cuts
• Trump won't say whether he wants Russia or Ukraine to win war - and says Europe should be giving more money to Kyiv
• Won't say if he believes Vladimir Putin is a war criminal while discussing Russia's war in Ukraine
• Trump doesn't say whether he would sign federal abortion ban - and calls overturning Roe v. Wade a 'great victory'

REACTION:

• Liberal journalists, AOC blast CNN over Trump town hall: 'Lost total control'
• Chris Christie says Trump would give 'Ukraine over to Putin' to end war
• CNN town hall 'proved Trump is stuck in the past': pro-DeSantis super PAC
• CNN Media Reporter Oliver Darcy Slams ‘Spectacle of Lies’ in Network’s Trump Town Hall
• Trump Town Hall Gets Failing Grade From CCN Viewers on Twitter: ‘It’s a Trump Infomercial’

➤HOUSE OVERSIGHT COMMITTEE SAYS BIDENS RECEIVED OVERSEAS CASH: House Oversight Committee Chairman James Comer identified nine members of President Biden’s family Wednesday who allegedly received foreign income after teasing the bombshell for weeks. “Since you asked, I’ll tell you,” Comer (R-Ky.) told a rapt room of reporters at the Capitol after laying out new bank record evidence showing first son Hunter Biden received $1 million from a corrupt Romanian businessman while his dad was vice president.

“Joe Biden’s son [Hunter], Joe Biden’s brother [James], Joe Biden’s brother’s wife [Sara], Hunter Biden’s girlfriend or Beau Biden’s widow [Hallie], however, you want to write that, Hunter Biden’s ex-wife [Kathleen Buhle], Hunter Biden’s current wife [Melissa Cohen], and three children of the president’s son and the president’s brother,” Comer said. The chairman seemed to indicate that only one of Biden’s grandchildren and two of his brother’s children got the foreign funds. “We’re talking about grandchil — a grandchild,” Comer said at the press conference. “That’s odd, most people that work hard every day’s grandchild doesn’t get a wire from a foreign national.” 

James Biden has three children, including daughter Caroline, who pleaded guilty in 2018 to making over $100,000 in charges on a stolen credit card. Emails from Hunter’s abandoned laptop show Caroline turned up her nose at an $85,000 job offer that would have allowed her to serve her probationary period near her beloved cousin in California.

Meanwhile, The FBI missed a noon deadline Wednesday to provide a document allegedly linking Biden to a cash for access 'criminal scheme,' angering top Republicans who issued a subpoena last week demanding the unclassified record. After the deadline passed, the top Republican on the House Oversight Committee's Comer, accused the FBI of 'refusing' to provide the document to his committee.  'The FBI's position is 'trust, but you aren't allowed to verify.' That is unacceptable. We plan to follow up with the FBI and expect compliance with the subpoena,' Comer said in a statement.

Disney Posts Narrower Streaming Loss

Walt Disney Co. said it would make Hulu content available within Disney+ in the U.S. by the end of the year, the latest effort by newly returned Chief Executive Robert Iger to get the company’s streaming business to profitability. 

The Wall Street Journal reports Iger said the company’s major streaming platforms—which beyond Disney+ and Hulu also include ESPN+—would remain available as stand-alone options, but said the upcoming one-app offering would provide greater opportunities for advertisers and make navigating Disney’s various content libraries easier for consumers.

“We also think that it will benefit consumption in general, lower churn, be more attractive,” Mr. Iger said. “It’s just an all-in-one. It’s a bigger platform.”

The move comes as Disney announced it had dramatically reduced its streaming business’s losses in the latest quarter—largely the result of price increases for Disney+—but also reported that Disney+ suffered its first-ever domestic subscriber loss.

Disney CEO Rips Ron DeSantis Over Florida Battle

Disney boss Bob Iger slammed Florida Gov. Ron DeSantis on Wednesday in the escalating tit-for-tat over the special tax district that oversees the company’s Orlando theme parks.

“This is about one thing and one thing only: them retaliating against us,” Iger said during a call with investors after the Mouse House reporting second-quarter earnings in line with Wall Street estimates.

“Does the state want us to invest more, employ more people, pay more taxes or not?”

Bob Iger

The NY Post reports Disney and DeSantis have been at loggerheads since the likely Republican nominee for president pushed through the state’s so-called “Don’t Say Gay” law, which bans teachers from talking about sexual orientation and gender for all public school students.

Disney’s opposition to the law led DeSantis to strip the company of its special Reedy Creek tax district, leading to lawsuits and countersuits in recent months.

“There’s also a false narrative that we’ve been fighting to protect tax breaks as part of this,” Iger railed. “But in fact, we’re the largest taxpayer in Central Florida paying over $1.1 billion in state and local taxes last year alone.”

The CEO poked holes in DeSantis’ claim that Disney has a unique situation in the Sunshine State because it occupied a special tax district, noting that other venues like the Daytona Speedway and prominent retirement community The Villages enjoy the status.

Iger said Disney intends to spend more than $17 billion in investments at Disney World over the next decade, which would create around 13,000 jobs at the company and generate more taxes for Florida.

Disney currently employs more than 75,000 people in the area.

Townsquare Media Q1 Revenue Rises 3%

Releasing its operating results for the first quarter of 2023, Townsquare Media reports net revenue of $103 million, an increase of 3% over the same period in 2022. 

The company reports in three segments – Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. 

The company says Digital Advertising revenue was $33.7 million (an increase of 15.4% over the same period in 2022), while Broadcast Advertising revenue was $45.9 million (down 4.8% over Q1 of 2022), and Subscription Digital Marketing Solutions revenue was $21.5 million (down 1.3% over Q1 of 2022). 

Bill Wilson

Townsquare Media CEO Bill Wilson says, “I am pleased to share that Townsquare’s first quarter results exceeded our previously issued guidance for both net revenue and Adjusted EBITDA, due primarily to the continued strength of our digital and local advertising platform and solutions… In the first quarter, we grew cash flow from operations to $9 million, due to the strong cash generation of many of our assets, and opportunistically repurchased more than $12 million of our Unsecured Senior Notes at a discount. We ended the quarter with a strong cash balance of $42 million and maintained our all-time low net leverage multiple of 4.29x. 

"Our growth engine has been and will continue to be our digital solutions. We believe that our Digital First business model and strategy position us to navigate the current macro-economic environment better than most, and that our revenue, profit and cash flow results will be among the best in the local media industry, particularly when compared to 2019 pre-COVID financials given our growth in revenue and profit since 2019. Our confidence is directly tied to the Townsquare team’s efforts and talent, as well as our large, growing, and profitable digital platform which contributes more than half of Townsquare’s total net revenue and profit."