Amazon.com shares slipped Thursday after it projected weaker-than-expected sales for the first quarter, even as it spent a record amount on capital expenditure to build infrastructure for artificial-intelligence services.
The Wall Street journal reports the company’s net sales rose 10% from a year earlier to $187.79 billion for the three months through December. Net income rose 88% to $20 billion. Its sales were in line with analysts’ expectations, while its profit was higher than predicted.
Revenue from Amazon’s cloud-computing unit, Amazon Web Services, rose 19% to $28.79 billion, slightly lower than the $28.87 billion that analysts polled by FactSet had expected. Analysts said they were closely monitoring this number after disappointing cloud-computing results from Alphabet and Microsoft.
Advertising revenue increased 18% to $17.3 billion, as brands continue to spend heavily for prominent positioning on Amazon’s app. In recent years, Amazon has emerged as one of the top digital ad companies, behind only Alphabet and Meta in the U.S.
Andy Jassy
Amazon projected net sales for the first quarter to be between $151 billion and $155.5 billion, lower than the $158.56 billion that Wall Street was expecting.
The company’s stock—which has climbed roughly 40% in the past 12 months—fell about 3% in after-hours trading on Thursday.
The company’s capital expenditure for the fourth quarter totaled $27.83 billion, its highest ever. Last year, Amazon said that it planned to spend about $75 billion on capital expenditure in 2024 and more in 2025 as part of a push to build generative AI services.
Top tech companies have been boosting spending on the expensive chips, data centers and real estate needed to meet the rising demand for computing power for AI.
Amazon Chief Executive Andy Jassy wants to make Amazon an AI leader. As the world’s largest cloud-service provider, Amazon is in a good position to profit from AI. The company has created special teams to drive generative AI innovation and has released a flurry of services, including an AI shopping assistant.
iHeartMedia announced Thursday that longtime executive Bobbie Loesch has been named Market President for Pittsburgh. She will report to D.J. Hodge, Division President for iHeartMedia.
Bobbie Loesch
“Bobbie has been an instrumental and driving force behind the success of our Pittsburgh cluster for over 20 years, and her leadership and vision make her the perfect fit to lead the team into the future,” said Hodge.
Loesch joined iHeartMedia Pittsburgh in April 2004 as an Account Executive. She was promoted to Vice President of Sales in 2012, and most recently served as a Senior Vice President of Sales for seven years. She began her career as an Account Executive for Townsquare Media from 1998-2004.
“I am genuinely honored to be appointed to this role and deeply appreciate the trust placed in me to lead this exceptionally talented team. My colleagues, our partners and our audiences are the cornerstone of our success,” said Loesch. “I am excited to build on our achievements and further elevate our dominance in the market, and I’m eager to continue to help brands harness the unmatched reach, scale and efficiency that only iHeart can deliver.”
Clay Hunnicutt has left his position as EVP/Label Operations at Big Machine Label Group after five years with the company.
He initially joined BMLG as General Manager in 2019 and was elevated to EVP/Label Operations in January 2024. In this role, he concentrated on business development, broadening the label group's ventures, forging partnerships, and enhancing catalog initiatives. Prior to BMLG, Hunnicutt was President and Partner at Big Loud, where he led the charge in developing and promoting successful artists such as Jake Owen and Morgan Wallen.
With 27 years in the radio industry, Hunnicutt served as a Program Director in various Southeast locations, including Nashville and Atlanta, before leading Clear Channel's national programming. In 2014, he was named Executive Vice President and General Manager of National Programming Platforms at iHeartMedia, also serving as Vice President and Brand Manager for Country Programming.
Commenting on his departure, Hunnicutt shared with Country Aircheck, "Moving on is always bittersweet. While I'm so very proud of our achievements at Big Machine, I'm just as excited about future possibilities. My next chapter is yet to be written, but the journey begins now."
Details about Hunnicutt's next move have not been disclosed.
The RTDNA Foundation is thrilled to announce that Trey Yingst, chief foreign correspondent for FOX News Channel, will be among the honorees at the 34th annual First Amendment Awards.
The event will be held at the Watergate Hotel in Washington, D.C. on March 6, and honors journalists and news organizations for their dedication to upholding the First Amendment and their commitment to a free press.
The RTDNA Foundation selected Yingst for this honor, stating: “As the world endures conflict on multiple continents, Trey Yingst has a remarkable ability to humanize the horror, making it all the more real for an audience an ocean away. He also has been a leader in the industry, advocating for safety and mental health resources for journalists who witness trauma repeatedly to share it with their audiences.”
As FOX News Channel’s chief foreign correspondent, Yingst has reported from some of the world’s most dangerous conflict zones. He is currently leading the network’s live coverage of the Israel-Hamas war from Southern Israel. Previously, he reported extensively from Ukraine during Russia’s invasion and provided exclusive coverage of the U.S. troop withdrawal from Afghanistan in 2021, including a rare interview with Anas Haqqani, a leader of the Haqqani Terror Network.
Yingst has broken numerous stories in the Middle East, including uncovering a secret Iranian base and the smuggling of Iranian oil to Syria. During the COVID-19 pandemic, he gained exclusive access to the Coronavirus Critical Care Unit at Sheba Medical Center in Tel Aviv, Israel. His book, Black Saturday, published in 2024, became a New York Times bestseller.
Before joining FOX News, Yingst served as Chief Washington Correspondent for OAN, where he was known for his aggressive questioning of the Trump administration. He began his journalism career while still in college, co-founding News2Share, an online outlet covering conflict zones.
Yingst is a graduate of American University and has been recognized as one of Forbes’ 30 Under 30 in media and one of AdWeek’s Young Influentials.
➦In 1908... one of the busiest actors in the Golden Age of Radio Bill Johnstone was born in Brooklyn.
Perhaps best remembered as the actor who succeeded Orson Welles as The Shadow (1938-43), Johnstone could also be heard as Inspector Cramer opposite Sydney Greenstreet in Nero Wolfe; Lt. Ybarra on Philip Marlowe; and in the title role on The Whistler.
From 1950 to 1953, he starred as Lt. Ben Guthrie in the CBS radio police procedural The Lineup. He died Nov. 1 1996 at age 88.
➦In 1915...comic actor Eddie Bracken was born in Astoria NY. After becoming a film star in the 40’s he made frequent appearances on network radio, and had two short-lived series under his own name. On TV he was seen in guest roles over more than 40 years, including serious drama series like Studio One & Playhouse 90. He died after surgery Nov 14, 2002 at age 87.
➦In 1915...First train-to-station radio message, Binghamton, NY.
➦In 1963...B. Mitchel Reed started at WMCA 570 AM NYC.
Born Burton Mitchel Goldberg in Brooklyn, New York, Reed held a B.S. degree in journalism and an M.A. in political science at the University of Illinois. After serving in the U.S. Air Force, he entered the world of radio while teaching political science at his alma mater.
Reed hosted the all-night Birdland Jazz Show at WOV (AM) in New York in 1956. A year later, he landed a job at KFWB in Los Angeles, playing jazz and calling himself "The Boy on the Couch." On January 2, 1958, KFWB became a pioneering Top 40 station known as "Color Radio/Channel 98," and the DJ's were known as "The Seven Swinging Gentlemen." The lineup included Bruce Hayes, Al Jarvis, Joe Yocam, Elliot Field, Bill Ballance, Ted Quillin, and Gene Weed. Reed held the 6-9 P.M. time slot. Under Program Director Chuck Blore, KFWB became the number one radio station in LA.
He was known as "The Fastest Tongue in the West," for the speed in which he spoke to his audience. He left KFWB for WMCA in his home state of New York on February 7, 1963. He soon became part of a team of disc jockeys known as "The Good Guys," among them Jack Spector, a fellow alum from Boys High School in Brooklyn who had graduated two years ahead of him.
➦In 1963… the Vee-Jay label released the first Beatles single in the U.S. “Please Please Me.”
Vee-Jay's early releases were at first unsuccessful, but quickly became huge hits once the British Invasion took off in early 1964, selling 2.6 million Beatles singles in a month. Cash flow problems caused by Ewart Abner's tapping the company treasury to cover personal gambling debts led to the company's active demise; Vee-Jay had been forced to temporarily cease operations in the second half of 1963, leading to royalty disputes with the Four Seasons and EMI. The Four Seasons then left Vee-Jay for Philips Records, and EMI's Capitol Records picked up the U.S. rights for both the Beatles and Frank Ifield.
Dick Biondi, at WLS 890 AM in Chicago at the time and a friend of Vee-Jay executive Ewart Abner, played the song on the radio as early as February 8, 1963. "Please Please Me" peaked at #35, but did not show up on any of the major national record charts. The label re-issued the single in January 1964 to a much better result: it peaked at #3 on the Billboard Hot 100, just behind the group's "I Want to Hold Your Hand" and "She Loves You" released on Capitol Records.
➦In 1964...Pan Am Yankee Clipper flight 101 from London Heathrow lands at New York’s Kennedy Airport as more than 3,000 fans jammed the airport launching Beatlemania in the U.S. The Beatles, John Lennon, Paul McCartney, George Harrison and Ringo Starr arrived for their first U.S. visit (including an appearance two days later on “The Ed Sullivan Show”). The “Fab Four” controlled the top spot on the pop music charts for the next 15 weeks and owned the top of the album charts for 10 weeks.
The “Fab Four”–dressed in mod suits and sporting their trademark pudding bowl haircuts–were greeted by 3,000 screaming fans who caused a near riot when they stepped off their plane and onto American soil.
Two days later, Paul McCartney, age 21, Ringo Starr, 23, John Lennon, 23, and George Harrison, 20, made their first appearance on the Ed Sullivan Show. Although it was difficult to hear the performance over the screams of teenage girls in the studio audience, an estimated 73 million U.S. television viewers, or about 40 percent of the U.S. population, tuned in to watch. Sullivan immediately booked the Beatles for two more appearances that month.
Federal Communications Commission Chairman Brendan Carr has launched an investigation into an Audacy station linked to left-wing billionaire George Soros after it aired the live locations of undercover Immigration and Customs Enforcement (ICE) agents.
Last year, a group funded by Soros acquired stakes in over 200 Audacy radio stations nationwide, including KCBS 740 AM / 106.9 FM in San Francisco. This station has faced criticism for disclosing the whereabouts of undercover ICE vehicles and agents involved in deportation operations in the San Jose area.
The FCC's Enforcement Bureau has issued a Letter of Inquiry to KCBS as part of the investigation, questioning whether the station's actions violate its license terms, which stipulate operation in the "public interest." The letter highlights that the ICE agents were working in a region known for its violent gang activities.
Brendan Carr
"I want to express my thanks and appreciation to DHS and ICE agents. These law enforcement professionals are honorably serving this country and carrying out vital missions. Their safety is paramount. The FCC will hold broadcasters accountable for complying with their public interest obligations," Carr stated to Fox News Digital.
The incident in question was reported during the January 26 broadcast of "KCBS Radio Weekend News," where specific details about undercover ICE agents "carrying out an operation on the east side of town" were revealed.
The investigation coincides with FCC Chairman Brendan Carr considering revisiting a prior commission decision on Audacy's post-bankruptcy restructuring, sparked by worries about the company's ownership connections to George Soros, a billionaire known for his Democratic donations, which has raised alarms among numerous Republican leaders. Although Audacy has concluded its bankruptcy proceedings, Carr, when questioned by Fox Business in November, commented, "There's a petition for reconsideration currently under review at the FCC, and I intend to scrutinize it thoroughly."
CBS on Wednesday took the unusual step of releasing internal video footage and transcripts of a “60 Minutes” interview conducted with then-Vice President Kamala Harris in October.
The Washington Post reports the behind-the-scenes materials are of interest in a FCC review of a complaint filed in the fall by the Center for American Rights, a conservative legal organization, which had accused the network of news distortion by airing two different portions of a response Harris gave to a question about U.S. policy toward Israel. The segment is also at the center of a lawsuit filed against CBS by President Donald Trump.
The FCC wrote to CBS requesting the internal materials on Jan. 29, and the network provided them late Monday. CBS, which had originally declined to release the transcript, said in a statement last week that it was “legally compelled” to provide the material.
The complaint, which was lodged in mid-October, was dismissed by then-FCC Chair Jessica Rosenworcel in the waning days of the Biden administration but was reopened by Brendan Carr, Trump’s pick to lead the FCC.
The transcripts and video feeds were also published by the FCC on Wednesday. Carr said in a post on X that “the value of transparency & the public interest” made it necessary to release the materials to the public. The FCC will also be seeking public comment on the matter, with a March 7 deadline.
CBS provided the FCC with unredacted video & a transcript of VP Harris’s ‘60 Minutes’ interview in response to the FCC’s review of a News Distortion complaint.
CBS did not ask for confidential or non-public treatment of these materials.
It’s very unusual for a news organization to publish internal camera feeds from an interview. At the beginning of the nearly 54-minute interview, which the FCC published on YouTube, Harris is shown wiping her nose. “You know that mold is at an all-time high today, which is the one thing I am allergic to,” she says. Viewers can also see an individual tussling Harris’s hair. “Just do what you need to do,” Harris says to the person.
I watched the full, unedited video of the Kamala Harris interview + reviewed the full transcript as well as the segment that aired on CBS News.
I would encourage everyone who cares about fact driven journalism to do the same.@60Minutes did then-VP Harris a favor in the edit… pic.twitter.com/dna0iRno0W
After releasing the transcripts, Carr said the FCC will hold hearings over a complaint by the Center for American Rights, a right-leaning activist group, over CBS News’ alleged deceptive editing.
News Corp’s revenue and profit increased in its fiscal second quarter, reflecting gains at its Dow Jones, digital real estate services and book publishing segments. Quarterly revenue at the company, whose properties include The Wall Street Journal and HarperCollins Publishers, increased 4.8% to $2.24 billion. Analysts had expected revenue of $2.18 billion.
News Corporation Wednesday reported financial results for the three months ended December 31, 2024.
Highlights:
Second quarter revenues were $2.24 billion, a 5% increase compared to $2.14 billion in the prior year, driven by growth at the Digital Real Estate Services, Book Publishing and Dow Jones segments
Net income from continuing operations in the quarter was $306 million, a 58% increase compared to $194 million in the prior year
Second quarter Total Segment EBITDA was $478 million, a 20% increase compared to $400 million in the prior year
REA Group posted record revenues for the quarter of $343 million, a 17% increase compared to the prior year, driven by continued strong Australian residential performance
Dow Jones achieved record revenues for the quarter of $600 million, underpinned by improved circulation revenues and higher professional information business revenues driven by growth of 11% at Risk & Compliance and 10% at Dow Jones Energy
Book Publishing revenues grew 8% in the quarter
Announced agreement to sell Foxtel to DAZN for A$3.4 billion enterprise value.
Robert Thompson
Commenting on the results, Chief Executive Robert Thomson said:
“News Corp had a fruitful quarter, qualitatively and quantitatively. Revenues on a continuing operations basis, which excludes Foxtel, grew 5 percent to $2.24 billion, net income from continuing operations surged 58 percent to $306 million and Total Segment EBITDA rose 20 percent to $478 million.
The three pillars of growth—Digital Real Estate, Dow Jones and Book Publishing—continued to expand Segment EBITDA robustly. We also saw the positive impact of rigorous cost discipline and digital development in the News Media segment, and our overall margin rose meaningfully compared to the prior year.
"We are providing priceless content for Generative AI, and remain vigilant in our pursuit of degenerative AI. We are pleased with our partnership with OpenAI and hope that other companies in the segment take a similarly enlightened approach. Our legal action against the perplexing Perplexity is underway and we look forward with relish to document discovery. The sudden rise of DeepSeek is itself a salutary lesson for all AI players. Data centers, chips, and energy costs aside, we believe DeepSeek lacks the immediacy of trusted news and, ultimately, content will be king in the world of AI.”
Disney CEO Bob Iger, who once questioned the importance of linear TV, now sees it as beneficial. He explains that funding and programming these networks enhances Disney's broader TV strategy, including streaming.
"We are programming them and funding them at levels that actually enhance our overall television business, which naturally includes and emphasizes streaming, which, let's admit it, is the future of television," he explained. "I'm not ruling out the possibility that some of our smaller networks could be restructured or even see changes in ownership in how we market them, but at this moment, we're content with our current strategy. We feel good about the hand we're playing and how we're managing both our linear and streaming businesses."
Disney has demonstrated openness to discontinuing some of its lesser-known cable networks during carriage discussions with pay TV providers. For instance, in 2023, an agreement with Charter Communications resulted in Spectrum dropping channels like Baby TV, Disney Junior, Disney XD, Freeform, FXM, FXX, Nat Geo Wild, and Nat Geo Mundo.
Additionally, Disney struck a deal with DirecTV in September to offer genre-specific channel packages, such as sports, entertainment, and kids & family, which include Disney's linear channels alongside Disney+, Hulu, and ESPN+.
"I can't predict if these narrower bundles will significantly affect cord-cutting, but we are definitely looking to capitalize on these opportunities, as they provide an excellent distribution channel for ESPN," Iger noted.
In the first quarter of 2025, Disney's entertainment linear networks saw a revenue decrease of 7% to $2.62 billion, with operating profit dropping by 11% to $1.1 billion. However, domestic linear revenue and operating income remained unchanged year over year, both at $2.2 billion and $837 million, respectively.
An escalating trend shows that a significant portion of U.S. internet households now label themselves as "cord cutters," according to the latest research from Parks Associates' Video Services Consumer Insights Dashboard.
The study reveals that 56 million, or 46%, of U.S. internet households are "cord cutters," while 12% are "cord nevers," individuals who have never subscribed to traditional pay TV services.
The Dashboard tracks changes in consumer behavior towards video services, noting a shift towards free-to-air broadcasts or online video platforms as alternatives to traditional cable.
In response, service providers are adjusting their strategies through competitive pricing, various bundling options, and exploring hybrid revenue models. The growth in ad-supported video-on-demand (AVOD) and free ad-supported streaming TV (FAST) platforms reflects a consumer demand for more affordable viewing options. Meanwhile, subscription video-on-demand (SVOD) services are testing different pricing structures and exclusive content offerings to keep subscribers engaged.
Jennifer Kent, Vice President of Research at Parks Associates, commented, "Cord Nevers present a unique market opportunity for streaming providers. This group has never valued traditional pay TV subscriptions, but streaming services have successfully tapped into this segment, which either grew up with streaming as the primary video consumption method or holds different expectations for subscription video services."
In the third quarter of 2024, data shows that 59% of subscriptions among the top eight SVOD services are for the ad-supported basic tier, indicating a preference among consumers for cost-saving options over ad-free premium services.
The Senate Commerce Committee has advanced the "AM Radio for Every Vehicle Act" with significant bipartisan support, as noted by Curtis LeGeyt, President and CEO of the National Association of Broadcasters (NAB). The legislation, which requires AM radio to be included in all new vehicles, was passed through the committee quickly, underlining the enduring significance of AM radio for American listeners.
LeGeyt commended the committee's prompt action, saying, "NAB applauds the Senate Commerce Committee for rapidly advancing the AM Radio for Every Vehicle Act with overwhelming bipartisan support." He stressed the essential role AM radio plays in providing local news, community services, and critical emergency alerts via the Emergency Alert System.
FCC Chairman Carr also commented on the bill's importance, stating, "Millions of Americans rely on AM radio for local news and community updates. Just last week in North Carolina, after Hurricane Helene, I witnessed firsthand how AM radio was the primary source for life-saving information for many residents."
"Therefore, I commend Chairman Cruz and Senator Markey for their leadership, and the Commerce Committee for pushing this bill forward. Ensuring AM radios are in new cars supports our emergency response system and guarantees that Americans can access important news, information, and entertainment. I hope the Senate will move this forward soon," Carr added.
Introduced only a week prior, the bill has quickly gained support from nearly half of the Senate, demonstrating a widespread recognition of AM radio's role in public safety and information sharing. LeGeyt further remarked, "This bill is crucial to maintain access to AM radio's local news, community programs, and emergency alerts during crises."
The push for this law comes amid concerns about the fading inclusion of AM radios in new cars, despite their utility in emergencies like the recent California wildfires. The legislation aims to make AM radio a standard feature in new vehicles without imposing extra costs on consumers.
WGN 720 Radio has announced a multi-year extension with morning show host Bob Sirott who is heard 6 am to 10 am weekdays.
“Management has given me a terrific on-air and behind-the-scenes team, plus freedom to do whatever I want,” said Bob Sirott. “That’s why waking up at 4:30 am is fun now. Actually…that last line is a lie.”
Sirott has been the station’s morning drive host since 2020. Listeners can expect to hear hyper-local stories along with news and conversations related to health, tech, business, travel, entertainment, lifestyle, and where to find the best Chicago-style hot dog.
“Bob’s work ethic, focus and character is the stuff of legends in the broadcast industry,” said WGN Radio Vice President and General Manager Mary Sandberg Boyle. “He’s an excellent communicator and continues to strategically engage and connect with the WGN Radio audience daily. Bob is one of the best in the business and we’re proud to have him as part of the WGN Radio team.”
Generations of Midwesterners have grown up with lifelong Chicagoan Bob Sirott whose acclaimed broadcast career spans five decades as a radio host and DJ and television news anchor. Sirott is a national Emmy award-winning journalist who received a 2022 Dante Award from the Joint Civic Committee of Italian Americans and a 2022 Silver Dome Award from the Illinois Broadcasters Association.
Cumulus Media announces that it has appointed longtime popular Albuquerque radio personality Bobby Gutierrez - known on-air as Bobby G – as On-Air Host, Middays, on Cumulus Albuquerque Country station 92.3 KRST. Listeners can hear Bobby G every Monday through Friday from 10:00am-2:00pm.
Bobby G
Bobby G hosted middays on KRST from 2017 to 2022, when he left radio to run a non-medical home health care company. In addition to his time at KRST, Bobby G has been a radio personality for over 35 years at New Mexico stations including Cumulus Albuquerque’s 96.3 KKOB-FM and Santa Fe station KISS 97.3 (KKSS-FM).
Jeff Berry, Vice President/Market Manager, Cumulus Albuquerque, said: “We are thrilled to have Bobby G back in his rightful position hosting middays on this legendary radio station. He brightens the days of our listeners and all of us in the hallways at Cumulus ABQ.”
Bobby G commented: "Back in the saddle where I belong - Albuquerque, you have always been home! Feeling the love from my Cumulus family and my AMAZING listeners! It’s an absolute privilege to be back... Let’s ride this Country wave together!”
For more information or to stream 92.3 KRST, visit: https://www.923krst.com/.
FOX News Channel (FNC) has signed Lara Trump to host a new weekend primetime program entitled My View with Lara Trump, announced FOX News Media Chief Executive Officer Suzanne Scott.
Premiering on February 22nd, the new program will air on Saturdays from 9-10 PM/ET. One Nation with Brian Kilmeade will be moved to Sundays from 10-11 PM/ET.
Lara Trump
In making the announcement, Scott said, “A gifted communicator who knows how to connect to the viewers, successful entrepreneur and working mother, Lara’s innate understanding of the American public and today’s political landscape will be a compelling addition to our weekend lineup.”
Trump added, “I’m thrilled to bring my voice back to FOX News, talk directly with the American people, and highlight what makes this country so great. As I cover the success of The Golden Age of America, I look forward to where this time will lead our country and where this opportunity will lead me in the future.”
My View with Lara Trump will focus on the return of common sense to all corners of American life as the country ushers in a new era of practicality. Every week, the program will feature big picture analysis and interviews with thought leaders, shedding light on the headlines driving the national conversation and affecting families around the country.
