It was a 3-0 decision, handed down today by the United States Court of Appeals for the 7th Circuit, which just affirmed the U.S. District Court's decision in Emmis' favor in a lawsuit filed by preferred shareholders. This case has been going on for years (see previous stories). In a nutshell, when the financial crisis hit, Emmis restructured and stripped preferred shareholders of their right to collect millions of dollars in past dividends, a plan the preferred shareholders fought -- and have now lost. The court decided that, under Indiana law, what Emmis did was legal. Emmis CEO Jeff Smulyan said, "It has been a long road, but we are incredibly gratified that the 7th Circuit upheld Judge Barker's ruling, and denied the arguments made by dissident preferred shareholders. We were always confident in our stance, and we are pleased the courts have agreed." Read the full 10-page decision HERE
After many months of speculation and rumors, Spanish language media giant Univision has indeed taken the first step towards going public. The company has filed a Form S-1 with the SEC, with the goal of offering Class A common shares of stock for sale, most likely in this year's fourth quarter. More HERE...
The syndicated news reports delivered to affiliates and SiriusXM from TheBlaze Radio Network will be ending at the end of next month. The network is doing so to put more efforts into its full-length radio talk shows. No other network programming is expected to end at this time. Read on...
WKRC-TV reports on a pirate radio station west of Cincinnati that has area residents calling the federal authorities. The pirated radio station can be heard on 87.9 FM in the Cincinnati neighborhoods of West Price Hill, North Fairmount, and Westwood. The station is playing uncensored music from rappers The Geto Boys continuously, with the artists' sometimes-vulgar lyrics broadcasting for all to hear. Complaints have been filed with the FCC. WKRC-TV reached out to the FCC for a comment, but the agency declined.
Mapleton Communications in Monterey, CA announced on Thursday that the company has successfully completed its refinancing with loan partners Webster Bank in Waterbury, CT and Balance Point Capital Partners in Westport, CT. Mapleton CEO James Shea said, "We are so pleased to be partnering with two very experienced lenders that are active in the radio industry and share the same positive view of Radio's future." Mapleton owns and operates 42 stations in eight small and medium markets in California, Oregon, Washington and Louisiana. Corporate Partners, a private equity firm based in New York City, remains the majority shareholder of Mapleton Communications.
Saga Communications, the parent company of the Chicago-based Illinois Radio network and the Springfield-based Capital Radio Group, is consolidating the two entities into one. IRN operations will mostly move downstate to Springfield, as a result, leaving only a reporter and sports director in Chicago. The news director of CRG's WTAX/Springfield, Alex Degman will add IRN ND duties, replacing Jim Anderson, who has exited.
Moody Radio announced the completion of their purchase of WLGO-FM/Ashtabula, OH from Lamb of God Communications. The call letters will now be changed to WVMU. Moody Radio religious programming will begin on the station later this month, simulcasting sister-station WCRF/Cleveland. WVMU becomes Moody Radios's sixth station in the Ohio/northwestern Pennsylvania region, as well as the 37th owned and operated station for the company overall.
Cumulus Media and Westwood One Chief Marketing Officer Pierre Bouvard contributed a new blog that looks deeper at the Nielsen Q1 Total Audience Report. He finds that radio is the #1 number one mass reach medium in America -- beating television, streaming Internet, and smartphones. Continue reading.
There is nothing like a celebration, and in the latest issue of Radio Ink, we celebrate the achievements of 100 incredibly talented and dedicated women who are making a difference every day in radio. Their hard work, determination, and passion not only set a wonderful example to others, but represent the ultimate payoff for those who have guided and led them over the years. Here are The 100 Most Influential Women in Radio for 2015.
Every year at the Radio Show, hosted by the RAB and NAB, Radio Ink Publisher Eric Rhoads pays tribute to Radio Wayne Cornils by discussing the tremendously positive impact he had on so many people and by awarding the over-achievers in our industry the awards created in his name. Nominations are now open for the 2015 Radio Wayne Awards which will be presented at the 2015 Radio Show being held this year in Atlanta, September 30 to October 2. Make your nominations HERE and take a look at the 2014 Radio Wayne winners HERE.
An opinion column in the Washington Post by Marc Fisher looks at the new Beats 1 streaming radio station by Apple Music. He feels that the new service is not so much a forward-thinking advancement, but more of a modern remake of classic Top 40 radio, with hyper-speaking DJs. It wasn't necessarily the technological revolution he was seemingly hoping for. More...
Westwood One syndicated host Michael Savage launched an essay contest and $100,000 scholarship fund in early 2015 to support conservative college students. Savage received approximately 1,700 entries, with their essays on "What Does It Mean to Be an American?" Savage announced the names of the five winners Thursday, with each earning a $20,000 scholarship over a two-year period.
SiriusXM announced it would be broadcasting a two-week, in-depth audio biography which will offer a behind-the-scenes look at the life, career, and achievements of Howard Stern. The History of Howard Stern will air on SiriusXM channels Howard 100 and Howard 101 beginning July 6. The entire special will be available on-demand starting on July 4.
The Atlanta Journal-Constitution's Rodney Ho reports that CoCo Brother (aka Cory Condrey) is returning to Atlanta radio after two years away. He will be hosting an inspirational gospel show entitled CoCo Brother Live: The Weekend, heard Sunday mornings on WSTR-HD3 and FM translator W233BF (Streetz 94.5).
Steel City Media announced the hiring of Chris K for middays on WLTJ/Pittsburgh. He comes from WDHZ/Detroit, where he worked weekends/fill-ins. Chris K replaces Debbie Wilde, who has joined the station's new morning show.
The syndicated Bob & Sheri Show is going on a road trip. Bob Lacey, Sheri Lynch, and their morning show team are loading up an RV and traveling for a week, driving from their home base in North Carolina to Maine. Calling it the RV Crazy Tour, the show will stop at affiliate stations in Zanesville, OH; Hudson, NY, and Bangor, ME. The 10-day trip begins July 3.
Don Barrett, founder and publisher of the Los Angeles-centric radio information website LARadio.com, announced he will be shutting down the website later in July, after nearly 20 years of operation. Barrett had previously worked in Los Angeles radio for ten years and has authored a pair of books on LA radio personalities
FCC Chairman Tom Wheeler announced the appointment of Mike Dabbs as Director of the FCC Office of Legislative Affairs. Dabbs and his team will lead the Commission's communications with the U.S. House and Senate. He replaces Sara Morris who exited in April to join iHeartMedia's Government Affairs team. Dabbs will work alongside Deputy Director Andrew Woelfling, who has served as acting director since Morris' departure.
Thanks to Charlie Tuna for sending us this classic when he received a studio visit from Henry "The Fonz" Winkler. Happy Days was taped next to the KHJ studios back in 1977 which is where Charlie did his morning show at the time. Send your classic photos to email@example.com