Urban One Reports Second Quarter Net Revenue Down 37.5%. The first big radio company out of the gate with Q2 2020 financial data is Urban One, Inc. – parent of Radio One. The company reports that net revenue was approximately $76 million, a decrease of 37.5% from the same period in 2019. Broadcast and digital operating income was approximately $30.2 million, a decrease of 33.1%. Operating income was approximately $20.4 million compared to approximately $29.1 million for the same period in 2019. Urban One CEO and president Alfred C. Liggins, III says, “The economic impact of Covid-19 is fully evident in our second quarter numbers: radio advertising was down 51%, and event revenues were -96% year over year. Our TV and digital businesses fared better, with TV advertising revenue down 4.4% and digital -20%, highlighting the benefits of our diversified media asset base. We had to make tough decisions to reduce costs, and I am proud of how our team, including on-air talent, made sacrifices and worked diligently to keep us operating smoothly through the pandemic. With the issue of racial equality featuring so prominently around the world, it is critical that diverse voices continue to be heard and I thank all our staff and talent for their exceptional work engaging with our audience and clients. The outlook for the rest of 2020 remains uncertain, but I anticipate a similar pattern of strong performance from our TV business offsetting some of the weakness in radio advertising and events. On a same station basis, our Q3 core radio business is currently pacing -41% and we continue to see sequential improvement. Our cost saving measures remain in place, liquidity is strong with $70 million of cash on the balance sheet, and I firmly believe that Urban One will continue to successfully navigate our way through these unprecedented times.”

Good Karma Brands Recognizes Mike Golic’s ESPN Radio Career. Tomorrow (7/31) is the last day of ESPN’s “Golic and Wingo” morning radio program as the company’s new radio programming schedule begins on Monday (8/3). While Trey Wingo’s future with the company is unknown at this time, Mike Golic is transitioning to a position as a college football analyst with ESPN and in recognition of his radio work, Good Karma Brands’ ESPN radio stations are celebrating his 22 years in mornings on ESPN Radio with “22 hours of Golic.” Good Karma Brands’ ESPN stations in Chicago, Cleveland, Milwaukee, Madison, and West Palm Beach will be featuring memories, pictures, videos, and stories from his career. Additionally, Golic will also be interviewed on 850 ESPN Cleveland’s “The Really Big Show” with Tony Rizzo and Aaron Goldhammer today (7/30). Golic played football at St. Joseph’s High School in Cleveland before heading to Notre Dame and the NFL.

CBS Audio and Skyview Networks Renew Partnership. After two years of their network sales and distribution partnership, Viacom’s CBS Audio Network and Skyview Networks announce they are renewing to continue their relationship. In a press release, the companies say, “Since partnering in 2018, the CBS network’s audience and revenue have grown through expanded programming and content integration campaigns that generate enthusiastic support and strong results from the advertising community. In the next phase of the partnership, the companies will further develop the CBS sales strategy that leverages its personalities and influencers in both long-form and short-form programming.”  CBS Audio Network and CBS News Radio vice president and general manager Craig Swagler says, “Our CBS Audio Network partnership with Skyview Networks strengthens our ability to drive sales efforts. This collaboration continues to assure our 23 million weekly listeners that they will continue to get the highest level of quality journalism they are accustomed to, while also providing for new opportunities for growth.”

Industry Mourns Bob McCurdy. Radio sales and management pro Bob McCurdy died yesterday (7/29) after long battle with cancer. The All-American basketball star at University of Richmond got into radio at WLEE, Richmond in 1976. He joined Katz Radio in Chicago in 1980 and, several years later, moved to New York to lead that office for Katz. In 1990, he was named president of Katz Radio. In recent years McCurdy returned to his roots in local radio taking on a leadership position with Beasley Media Group. Beasley CEO Caroline Beasley says of McCurdy, “Bob was a trusted confidant, a valued advisor, and an incredible ambassador on behalf of the Beasley Media Group family and the radio industry. His love and passion for the business could be seen and heard in everything he did within our company as well as the industry. Bob will be greatly missed and will be forever remembered as a beloved member of our family.” In a recently completed book about leadership, culture, and sales, McCurdy wrote, “It has often been said that one can never tell where a teacher’s influence ends. The same is true with leaders. As leaders, we are teachers and as with teachers you can never tell where an effective leader’s influence ends. That makes for an amazing legacy.”

COVID-19 Statistics & Projections, School Opening Debate, GOP Stimulus Bill, Tech CEOs Before Congress, Presidential Race, BLM Protests/Federal Troops, and U.S. Pro Sports Leagues Among Top News/Talk Stories Yesterday (7/29). The rising number of positive COVID-19 cases on numerous U.S. states and in other countries, plus the projections for future cases; the debate over opening schools in the fall; the wrangling over what will be in the final Republican stimulus bill; CEOs from Google, Facebook, Amazon and Apple appear before the House Judiciary Committee; the November presidential election; the Black Lives Matter protests and the controversial use of federal troops; and the issues pro sports leagues are facing playing games were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Multi-talented Talk Personality Steve Trevelise Is This Week’s Guest on Harrison Podcast.  He’s a news/talker heard weekday evenings on one of the most innovative radio stations in America – New Jersey 101.5. He’s also a sports/talk host heard weekends on one of the leading radio stations in that genre – WIP, Philadelphia.  And he’s an established stand-up comic who’s opened for some of the greats for the past decade-plus at top clubs and venues all over the Delaware Valley.  Steve Trevelise is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.”  Born and raised in the Garden State, Trevelise is described by TALKERS founder Michael Harrison as being “a real Jersey boy who, although not a member of the Four Seasons, is a man for all seasons.” Harrison and Trevelise take the listener on an insightful tour of today’s politically polarized society, the mask debate, similarities and differences between 1968 and 2020, the long-lasting impact of John Lennon and the Beatles, the state of pandemic-era sports, and the challenges faced by humorists during an age of hyper-political correctness. To listen to the podcast in its entirety, please click here or click on the player box marked “The Michael Harrison Interview” located in the right-hand column on every page of Talkers.com.

Salem Seeks Chief Engineer for NYC. This chief engineer position is in Salem Media Group’s New York City operations for news/talk WNYM “AM 570 The Answer” and Christian teaching WMCA (plus translator W272DX). See the list of position duties and qualifications necessary to be considered – and how to apply – here.

Music Radio News and Career Moves. In Detroit, programming pro Scott Jameson is named director of programming for Beasley Media Group’s cluster there that includes: rock WRIF-FM, classic rock WCSX-FM, hip hop WMGC-FM, urban contemporary WDMK-FM and the Praise Network. Jameson most recently was vice president of classic rock programming, program director of classic rock KQRS-FM and operations manager of KQRS-FM, KXXR-FM & WGVX-FM in Minneapolis for Cumulus Media. He says, “Joining Beasley Media Group in Detroit is a terrific opportunity. The Midwest is home for me, so it’s a natural fit. The legendary WRIF-FM and heritage WCSX-FM, joined with ‘The BOUNCE,’ ‘KISS,’ and ‘PRAISE’ boast exceptional talent across all five brands. Adding Beasley’s commitment to the community, along with an aggressive digital presence, turns listeners into fans. I’m thankful to Justin Chase for approaching me about the Detroit situation and grateful to Mac Edwards and Brian Beasley for their endorsement.”…..Also at Beasley Media Group, the company announces that Al Beck adds evening jock duties at WRXK-FM, Fort Myers “96 K-ROCK.” Beck currently serves as the producer of the “Dave and Chuck The Freak Morning Show” at WRIF-FM, Detroit, is co-host of the Nerd Radio podcast, and can also be heard evenings on WBOS-FM, Boston “ROCK 92.9.” Beasley Media Group Southwest Florida operations manager Adam Star says, “We are excited to add Al Beck to our on-air line up at WRXK. Al’s on-air rock presentation is stellar, plus his connection with our syndicated morning show, Dave and Chuck the Freak, doesn’t hurt either! We felt bringing him on the air made perfect sense to embrace the Fort Myers rock world.”

Tags: Aaron Goldhammer, Alfred C. Liggins III, Beasley Media Group, Bob McCurdy, Caroline Beasley, CBS Audio Network, Craig Swagler, ESPN Radio, Good Karma Brands, Katz Radio, Mike Golic, net revenue, news/talk radio, radio advertising, Skyview Networks, Talkers Magazine, Tony Rizzo, Trey Wingo, TV advertising, Urban One, Viacom

Category: Front Page News, Industry News