For Immediate Release:

Monday, November 7, 2022

NOT TOO LATE! Comrex Offers Talk Broadcasters Two Weeks Free Use of Gagl for their Original Election and Post-Election Programming. High-quality, remote contribution is a vital part of any live broadcast – and that’s especially true during election season. Comrex has provided talk radio hosts, reporters and sportscasters with great remote broadcasting tools for decades. Their Comrex ACCESS units have become a ubiquitous presence at political conventions, breaking news stories and

anywhere broadcast-worthy things are happening. Election night is upon us and we all know how fast-paced and frenetic polling places and campaign headquarters can be. Reporters and contributors need to be able to connect from these locations at the drop of a hat. Often, reporters will call in from their remote locations on a mobile phone, which is a simple solution, but results in poor audio quality. Other reporters will have access to a remote audio codec, which provides excellent audio quality, but also requires some management from the engineering team. Gagl, a new remote contribution solution from Comrex, is the best of both worlds. According to the folks at Comrex, reporters and contributors can connect to the Gagl interface from a web browser on a smartphone or laptop, meaning it’s as easy as a phone call to get connected. Up to five reporters can be in a Gagl session at the same time. The Gagl session is connected to a Comrex IP audio codec in the studio, and so on-air hosts are able to talk with field reporters. Each reporter has their own mix-minus, and their audio is studio quality with very low delay, so quality isn’t sacrificed for simplicity. Gagl is a subscription-based service and it’s a first for Comrex. “It’s kind of a pivot for us,” Comrex director of sales, Chris Crump tells TALKERS. “Broadcasters are looking for easier, faster and less expensive ways to do their job. But quality and reliability are just as important,” says Crump. “Gagl uses a web browser on a smartphone or computer. It’s as easy as clicking a link to connect. But it connects to a Comrex IP Audio Codec back in the studio for reliability and greater stability. It sounds great and is designed to be dependable as Comrex customers would expect.” Anyone with an ACCESS or BRIC-Link codec can try Gagl free for two weeks – just in time for midterm elections – by contacting Chris Crump at Comrex Corporation: chris@comrex.com. Office phone: 978-784-1776. Mobil phone. 404-610-5954. comrex.com

Beasley Broadcast Group Q3 Net Revenue Rises 1.5%. Financial data from Beasley Broadcast Group’s third quarter of 2022 reveals net revenue of $63.8 million – an increase of 1.5% over the same period in 2021. The company reports operating income of $4.7 million in the third quarter of 2022 compared to $4.9 million in the third quarter of 2021. It says this slight decrease was driven by a $1.2 million increase in corporate expenses related to investments in its digital business as well as severance expense, partially offset by a year-over-year increase in Station Operating Income (SOI, a non-

GAAP financial measure). Beasley reports net income of $500,000 compared to the net loss of $1.6 million it reported during the same period a year ago. Station operating income increased by 5.1% to $12.3 million in the third quarter of 2022, up from $11.7 million in the third quarter of 2021. The company says the increase is primarily attributable to higher net revenue, which more than offset higher operating expenses. Chief executive officer Caroline Beasley says, “Beasley delivered another strong period of operating and financial performance, reflecting the ongoing success of our digital transformation and revenue diversification strategies. Top-line growth was the primary factor contributing to a 5.1% year-over-year increase in SOI to $12.3 million and was driven by continued strength in local audio advertising and impressive growth in our digital business. Regarding the economic environment, like many companies, we are managing through some challenging market conditions with a focus on what we can control. We continue to experience increased volatility in national spot advertising, which accounted for approximately 15% of our third quarter net revenues. The ongoing strength of our digital and local audio advertising revenues is helping us to partially offset these declines. We are also taking actions on the expense side, and have implemented approximately $10 million in expense reductions, of which roughly half were from a reduction to headcount. Digital remains a key component of our revenue diversification strategy. Digital revenue increased 23.1% year-over-year representing 16% of total third quarter revenues, while our digital margin improved. Our digital performance benefitted from a first full quarter contribution from the white label digital agency we acquired in late June, which we believe will continue to accelerate our digital revenue growth and provide meaningful synergies with our growing digital platform. In both the second and third quarters, digital revenue accounted for a larger share of our revenue than national advertising, and we expect this revenue source to continue offsetting national spot weakness in the coming quarters. Total outstanding debt as of September 30, 2022 was $290 million. In summary, we believe these results demonstrate the strength and relevance of our industry-leading audio and digital content, as well as our teams’ extraordinary efforts to serve our listeners, customers and communities through challenging circumstances. And while we cannot control how the economic situation evolves in the coming months, we have already taken decisive steps to mitigate the impact of near-term headwinds and drive continued progress against our long-term growth strategy. Looking ahead, we will continue to focus on maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers and delivering results for our stockholders.”

Monday Memo: Your Podcast ‘Bones.’ Like your on-air work, your podcast is a show. And consultant Holland Cooke figures that “as a professional broadcaster, you enter the on-demand audio arena advantaged over others…BUT…” In this week’s column, HC cautions that – given the way podcasts are consumed – your format is critical. Read it here.

 
 

Broadcasters Foundation of America Launches Year-End Giving Campaign. The Broadcasters Foundation of America is launching its annual year-end giving campaign. The appeal asks for tax-deductible donations to provide financial assistance to people in broadcasting whose lives have been shattered by debilitating illness, accident, or catastrophe. BFoA president Tim McCarthy says, “Our grantees are your

colleagues. They are hard-working men and women who through no fault of their own need our help. Requests for aid continue to increase every year. We cannot turn our backs on those in our industry who need our help.” This year, the Broadcasters Foundation will award close to $2 million in monthly and one-time emergency grants. Since 2017, monthly grants have increased 70% and more than 600 emergency grants have been awarded. Over the past 20 years, the Broadcasters Foundation has distributed more than $15 million to broadcasters in need. Broadcasters Foundation board of directors chairman Scott Herman adds, “Disaster often strikes without notice and extreme circumstances can deplete a life’s savings quickly. We need everyone in radio and TV to spread the word about the Foundation’s charitable mission across their station and company, in case they or someone they know needs our help.” More information, including how to make a personal or corporate donation or apply for aid is available at www.broadcastersfoundation.org, and by contacting the Foundation at 212-373-8250 or info@thebfoa.org.

Midterm Elections/Trump in 2024, The Economy, Russia-Ukraine War, Elon Musk & Twitter, Daylight Saving Time Controversy, Astros Win World Series, and Powerball Jackpot Among Top News/Talk Stories Over the Weekend. Tuesday’s midterm elections and the battle for control of the House and Senate, combined with expectations that Donald Trump will announce his bid for the 2024 Republican nomination shortly; inflation and concerns about a recession; Russia’s targeting of Ukraine’s infrastructure as the war grinds on; Elon Musk’s mercurial leadership tactics as owner of Twitter; the debate over Daylight Saving Time and whether to make it permanent in the U.S.; the Houston Astros beat the Philadelphia Phillies in the World Series; and the now $1.9 billion Powerball jackpot were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

KWAM, Memphis Seeks News/Talk Morning Host. Memphis news/talk outlet KWAM-

AM “The Mighty 990” is looking for the next great talk show host in America. We have an immediate opening for a morning show host. Our host must have at least three years experience and must be well-versed on national, Tennessee and Memphis news. Send resumes and audio clips to todd@starnesmediagroup.com.

Tags: ACCESS, Beasley Broadcast Group, BRIC-Link, Broadcasters Foundation of America, Caroline Beasley, Chris Crump, Comrex, digital revenue, Gagl, Holland Cooke, IP codec, Monday Memo, net income, net loss, net revenue, news/talk radio, operating income, podcast, Q3, remote contribution, Scott Herman, station operating income, talk radio hosts, Talkers Magazine, Tim McCarthy

Category: Front Page News, Industry News