Thursday, May 6, 2021
Saga Communications Q1 Net Revenue Down 15.5%. Reporting its financial data for the first quarter of 2021, Saga Communications announces net revenue for the period was $22.3 million, a decline of 15.5% from the $26.1 million reported in Q1 of 2020. Station operating expense decreased $3.3 million to $18.9 million for the quarter
compared to the same period last year. Station operating income was $4.7 million, down from the $5.5 million reported in the first quarter 0f 2020. Free cash flow increased 21.4% to $1.8 million for the quarter. Saga Communications reports net income of $758,000 in the first quarter, compared to $1.7 million in Q1 2020. The company’s balance sheet reflects $56.3 million in cash on hand as of March 31, 2021 and $57.4 million as of May 3, 2021. Saga’s total bank debt remained at $10 million as of the end of the first quarter 2021. Capital expenditures in the first quarter were $534,000 compared to $1 million for the same period last year. Saga expects to spend approximately $4.5 – $5.5 million for capital expenditures during 2021.
Nielsen Q1 Revenue Up 2.5%. Ratings and analytics giant Nielsen Holdings plc reveals its financial results for the first quarter of this year and revenue was $863 million, an increase of 2.5% on a reported basis. Nielsen notes that these results reflect the March 5, 2021 sale of the Global Connect business (consumer data) for $2.4 billion in net proceeds, which resulted in a $542 million preliminary gain on sale, net of taxes,
recognized in the quarter. Of the net proceeds, $2.28 billion were used for debt reduction in March and April 2021. Beginning in the first quarter of 2021, Global Connect results were reclassified to discontinued operations for all periods presented. Nielsen CEO
David Kenny comments, “We delivered a solid first quarter, as our teams executed incredibly well. We closed on the sale of Global Connect in March and are now singularly focused as the global essential data, measurement, and analytics provider for the entire media ecosystem. We are investing in our future and we are well-positioned to drive new growth from new solutions across all of our end markets globally. In particular, we are pleased with the advances we’ve made in Audience Measurement, Outcomes and Gracenote Content Services. We are executing as planned and we are increasing key elements of our 2021 guidance.”
FOX Corp Acquires Clay Travis’ Outkick. Yesterday (5/5), FOX Corporation announced an agreement via its subsidiary to acquire Outkick Media, LLC, the digital media platform founded and led by Clay Travis, and related assets. FOX says, “Outkick is an omnichannel leader in sports, opinion, politics, and pop culture content across its radio, podcasts, online and social outlets, as well as being one of the foremost sources
of sports wagering information in the United States. Further, Outkick is in an exclusive marketing agreement with FOX’s partner
FanDuel and serves as a significant source of sports wagering referrals.” FOX Corp executive chairman and CEO
Lachlan Murdoch comments, “As FOX further diversifies our growing digital portfolio and broadens our
position in the sports wagering ecosystem, there could be no better acquisition than Outkick. Clay and his team have quickly made Outkick a content powerhouse with a very large, loyal and engaged audience. We expect the synergies presented across FOX’s existing portfolio of assets will turbocharge this exciting business.” Travis adds, “Outkick has grown out of my passion for producing bold, well-informed, and entertaining content about sports, current events and, more recently, sports wagering. With the power of FOX behind us, we look forward to maintaining Outkick’s unwavering commitment to that mission, as well as further accelerating the growth of our audience, and continued leadership in the sports wagering affiliate category.” Clay Travis will remain integrally involved at Outkick and serve as its president. The price of the acquisition has not be announced.
Dr. Laura’s ‘Call of the Day’ Hits 100 Million Download Mark. The “Call of the Day” podcast from Dr. Laura Schlessinger has reached the 100 million-downloads mark. The podcast is a feature that’s taken from Dr. Laura’s daily SiriusXM talk show in which
she features a call she designates as the best from each day’s show. The “Call of the Day” podcast was launched in 2017 and has consistently ranked #1 in Parenting on
Apple Podcasts, is top ranked in Kids and Family, and is among podcasting’s Global 200 according to
Chartable.
Dan Brady, director of podcast operations and program audio content for
Take On The Day LLC, says, “We set forth to make this podcast a new avenue to hear Dr. Laura. It turns out we made it one of the most popular focusing on families and parenting. Take On The Day LLC president
Geoff Rich adds, “In addition to its popularity with listeners old and new, Dr. Laura’s ‘Call of the Day’ has proven to be a great opportunity for advertisers who want to reach the desirable demographic of women 25-54. It’s been a win-win for everyone.”
Todd Starnes Is This Week’s Guest on Harrison Podcast. Entrepreneur, syndicated talk show host, radio station owner, author, columnist, and conservative/evangelical thought-leader
Todd Starnes is this week’s guest on the award-winning
PodcastOne series, “The
Michael Harrison Interview.” After working as a radio news reporter and news columnist for a number of years, this
colorful and controversial personality began hosting a syndicated talk radio show on
FOX News Radio in 2017. In 2019, he moved on from FOX, launching his own independent syndicated show which just recently cracked the 100-affiliate milestone. In January 2020, he significantly expanded his media empire by purchasing Memphis talk station 990 AM KWAM which now serves as the flagship for his growing radio show and political/industry influence. To listen to the podcast in its entirety, please click
here.
Report: Future of Centennial’s WINC-AM, Winchester, Virginia Uncertain. A story in the Winchester Star shines a light on the status of Centennial Broadcasting II’s Winchester, Virginia news/talk outlet WINC-AM. Company CEO Allen Shaw tells the
paper that WINC-AM “hasn’t had great financial success” lately and that the death of
Rush Limbaugh has added to the station’s woes. Shaw tells the
Wincester Star that his company is selling WINC-FM and WZFC-FM, to Fairfax, Virginia-based
Metro Radio Inc. for $225,000 and that Centennial offered WINC-AM as well “practically for nothing” but Metro didn’t want it. If Centennial can’t sell WINC-AM, it would consider donating it to a college or a religious group before it would take the station dark.
COVID-19, Trump vs Liz Cheney/Future of GOP, Facebook Trump Ruling, Giuliani Investigation, Border Crisis, Newsom Recall/Jenner Run, and Peloton Recall Among Top News/Talk Stories Yesterday (5/5). The rate of COVID cases in the U.S., the move to waive COVID vaccine patents, and the soaring death rate in India; Donald Trump’s orchestration of U.S. Rep. Liz Cheney’s fall from power in the House and the future of the GOP; Facebook keeps Trump account suspended but allows for further review; the FBI’s investigation into Rudy Giuliani and the mainstream media’s reporting errors; the crush of migrants at the U.S.-Mexico border and the Joe Biden administration’s immigration policy; the recall of California Governor Gavin Newsom and Caitlyn Jenner’s plan to run for the office; and Peloton recalls all of its treadmills after numerous accidents and one death were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Promotions Positions Open at Audacy. There are two positions open on the Promotions + Experiences team at Audacy. The company says it is “looking to add two talented, versatile promotions pros to our central Promotions + Experiences team. These individuals will focus on promotional partnerships with concert partners, activating select live performance venues, and play a vital role in live events across the company’s portfolio of brands.” You can learn more and to apply for the Promotion Director, Concerts & Experiences position here and do the same for the Promotion Manager, Concerts & Experiences position here.
Tags: 100-million downloads, 2020, 2021, Allen Shaw, analytics, Call of the Day, capital expenditures, Clay Travis, Dan Brady, David Kenny, Dr. Laura Schlessinger, FanDuel, first quarter, FOX Corp, free cash flow, Geoff Rich, Global Connect business, Lachlan Murdoch, Metro Radio Inc., net income, net revenue, news/talk radio, Nielsen Holdings plc, Outkick, Q1, ratings, Revenue, Rush Limbaugh, Saga Communications, siriusXM, station operating expense, station operating income, Take On the Day LLC, Talkers Magazine, total bank debt, Virginia, WINC-AM, Winchester
Category: Front Page News, Industry News