Thursday, August 4, 2022
Richard Neer is This Week’s Guest on Harrison Podcast. Legendary WFAN, New York sports talk show host/rock radio pioneer
Richard Neer and
TALKERS founder
Michael Harrison have been close friends and radio colleagues for more than half of the medium’s 100-year history. Needless to say, they always have plenty to talk about regarding media and popular culture – past, present, and future. Richard Neer is this week’s guest on the award-winning
PodcastOne series, “The Michael Harrison Interview” marking his record-breaking seventh visit since the program
debuted as one of the platform’s earliest offerings in 2015. In addition to his rich on-air history, Neer is the prolific author of 10
Riley King murder mystery novels and his historic overview of album rock radio,
FM: The Rise and Fall of Rock Radio (Villard, 2001) remains a literary milestone chronicling the golden days of the AOR era. On this podcast, Harrison and Neer talk about a wide variety of topics including
Joni Mitchell’s recent performance at the
Newport Folk Festival, the high cost of
Bruce Springsteen concert tickets, the controversial
LIV Golf tour backed by Saudi Arabia, changes in the record business, the challenges of writing and publishing historical fiction, movies, TV, CGI and a whole lot more. To listen to the podcast in its entirety, please click
here.
Cumulus Media Q2 Net Revenue Rises 5.4%. Reporting its financial data for the second quarter of 2022, Cumulus Media reveals net revenue of $236.7 million – an increase of 5.4% over the same period in 2021. The company also reports net income of $8.7 million for the quarter after posting a net loss of $5.9 million during Q2 of 2021. Total broadcast revenue for Cumulus fell 0.3% to $175.7 million compared to the second quarter of 2021. While radio spot revenue was $127 million – up 5.1% over Q2 2021,
network revenue slipped 12% to $48.7 million. Cumulus Media’s digital segment rose 20.3% to $37.8 million. CEO
Mary Berner comments, “Our ability to deliver yet another quarter of strong results is testament both to the quality of our strategic plan and the discipline and relentlessness with which we implement it.
Specifically, we have deployed our multi-platform audio-first content strategy, developed multiple digital businesses, significantly reduced fixed costs, undertaken high ROI internal investments, and created a best-in-class balance sheet that gives the company substantial financial flexibility and capital allocation optionality. Given our track record, we have tremendous confidence in our ability, under this plan, to grow shareholder value. Despite the challenging macro environment, we increased revenue in the quarter by more than 5%, driven by our digital businesses whose growth accelerated in Q2 to 20% year-over-year. Additionally, bolstered by our ongoing focus on fixed cost reductions, this quarter we generated additional cash from operations and increased net income, EBITDA and EBITDA margins vs. the same period last year. We also efficiently executed nearly half of our $50 million share repurchase authorization and bought back $50 million of bonds at a discount, while simultaneously reducing net leverage to 3.8x, the lowest it’s been in more than a decade. With a robust political spending season anticipated, we are on trend toward achieving our net leverage target of less than 3.5 times and EBITDA at the low end of our 2022 guidance range.”
Conservative Media Figures Gather at CPAC 2022. Pictured above (from l-r) are WMAL-FM, Washington, DC morning drive personality Larry O’Connor, Salem Radio Network VP, news & talk programming Tom Tradup, and author and TOWNHALL.com contributor Kurt Schlichter in Dallas for the first day of CPAC 2022. The annual event runs through Sunday and speakers scheduled to address the gathering include: former President Donald Trump, Senator Ted Cruz, British conservative leader Nigel Farage, and Hungary Prime Minister Viktor Orban.
Former WFTL, Fort Lauderdale Talk Host Rich Stevens Passes. TALKERS magazine
has learned that former WFTL, Fort Lauderdale talk host
Rich Stevens died on July 30 at the age of 68 after suffering a heart attack. Stevens worked in music radio prior to hosting his talk show on WFTL, serving at such signals as WPLJ-FM, New York and WJHM, Orlando. He also served at WABC-TV, New York as an entertainment reporter.
Kansas Abortion Vote, Midterms/2024 Presidential Race, Pelosi Taiwan Visit, January 6 Investigation, Russia-Ukraine War, The Economy, COVID-19, and U.S. Rep. Walorski Killed Among Top News/Talk Stories Yesterday. Kansas voters elect to keep abortion rights in the state’s constitution; the primary races for the November midterm elections and speculation about the nominees in the 2024 presidential race; House Speaker Nancy Pelosi’s visit to Taiwan and China’s angry response; the January 6 investigation and the DOJ subpoenas issued to former White House counsel Pat Cipollone and former deputy counsel Patrick Philbin; Russia’s ongoing invasion of Ukraine and the impact on the global economy; the falling price of gasoline and the still-high cost of food in the U.S. and concerns about a recession; the rate of BA.5 subvariant cases in the U.S.; and U.S. Rep Jackie Walorski (R-IN) and two staffers are killed in a car accident were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
WSVA Radio Has A Rare Opportunity For You To Join Our News Staff. Live and work in Virginia’s beautiful Shenandoah Valley. WSVA has been covering Virginia news since 1935 and in these days of cutbacks and consolidation in the radio industry, WSVA continues its commitment to local news. We’re looking for a full-time news reporter/anchor who can be a storyteller with a news mindset. If you’re charismatic and have a sense of humor; if you’re active in your community; if you’re interesting; if you’re an elite communicator, we’re looking for you. We want someone who understands how to reach the local listeners and make a story interesting. We want an individual who loves to connect with listeners and community leaders. Duties include gathering and reporting news for our news/talk station, delivering updates on our music stations and keeping our digital site up-to-date. If you enjoy doing play by play sports, there’s opportunities to help our sports department too. Local radio news is alive and well on WSVA! To apply, send your resume, on air demo and references to
Frank Wilt at
fwilt@hrgradio.com.
Saga Communications is an equal opportunity employer and a long-term radio only company dedicated to the principles of excellence in radio.
Salem Media Group Seeks Producers. Attention producers! Salem Media Group is looking for producers. Salem has great radio
stations, the Salem Radio Network, the Salem Podcast Network, and the Salem News Channel, and we always need producers to help us create our great products. If you have experience producing radio or TV shows, please send your resume and keep ‘em coming to: Phil Boyce, Senior VP of Spoken Word Formats, Salem Media Group Philip.boyce@salemmedia.com. Salem is an Equal Opportunity Employer.
Tags: broadcast revenue, CPAC 2022, Cumulus Media, digital segment, financial data, Fort Lauderdale, Kurt Schlichter, Larry O'Connor, Mary Berner, net income, net revenue, network, New York, news/talk radio, Orlando, Q2, radio spot revenue, Rich Stevens, Salem Radio Network, second quarter, Talkers Magazine, Tom Tradup, Washington, WFTL, WJHM, WMAL-FM, WPLJ-FM
Category: Front Page News, Industry News