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Wednesday, November 13, 2019
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TALKERS Magazine --- Talk Radio Magazine TALKERS Magazine --- Talk Radio Magazine
For Immediate Release:
Dateline: Springfield , MA
Wednesday, November 13, 2019

 
| November 13, 2019

Salem Third Quarter Revenue Down 2.2%. Total revenue for the third quarter of 2019 for Salem Media Group, Inc.was $64.1 million, down 2.2% from the same period in 2018.  It also posted an operating loss of $14.5 million in Q3 compared to operating income of $6.3 million a year ago.  Salem is reporting a net loss of $20 million, or $0.75 net loss per share, “impacted by a $17.5 million loss on the disposition of assets and a $1.9 million impairment of indefinite-lived long-term assets other than goodwill, compared to net income of $1.2 million, or $0.05 net income per diluted share in Q3 of 2018.  Salem breaks its divisions down into three segments: Broadcast, Digital and Publishing.  In the third quarter, net broadcast revenue decreased 2.3% to $47.7 million from $48.8 million.  Same station net broadcast revenue decreased 1.4% to $46.5 million from $47.2 million and same station SOI decreased 11.4% to $10.6 million from $12.0 million.  Digital was also down 12% for Salem to $9.1 million.   However, publishing revenue increased 15.3% to $7.3 million from $6.3 million.  Salem also reports a $17.5 million ($13.0 million, net of tax, or $0.49 per share) net loss on the disposition of assets which includes a $9.9 million estimated pre-tax loss for the pending sale of radio stations WAFS-AM in Atlanta, Georgia, WWDJ-AM in Boston, Massachusetts, WHKZ-AM in Cleveland, Ohio, KEXB-AM (formerly KTNO-AM) in Dallas, Texas, KDMT-AM in Denver, Colorado, KTEK-AM in Houston, Texas, KRDY-AM in San Antonio, Texas and KXFN-AM and WSDZ-AM in St. Louis, Missouri, a $4.7 million pre-tax loss from the sale of radio stations WWMI-AM and WLCC-AM in Tampa, Florida and WZAB-AM and WOCN-AM (formerly WKAT-AM) in Miami, Florida, a $1.6 million pre-tax loss from the sale of radio station WDYZ-AM (formerly WORL-AM) in Orlando, Florida and a $1.3 million pre-tax loss on the exchange of radio station KKOL-AM in Seattle, Washington for KPAM-AM in Portland, Oregon.

DeMann Named Director of Programming for JVC’s Florida Stations. Programming pro Stevie DeMann joins JVC Broadcasting as director of programming for the company’s Florida radio station group that includes talk WDYZ-AM, Orlando and WYGC-FM, Gainesville “Florida Man Radio 660AM/105.5FM” and five music brands.  DeMann was most recently operations manager for Cox Media Group’s Orlando cluster.  DeMann says, “I wanted to find the right situation before getting back into the business.  The team at JVC Florida is the best.  From management to programming, sales and promotions, they are all pros that love working together to create successful local content, events, and promotions.  I am thrilled and thankful to CEO John Caracciolo and EVP Shane Reeve for trusting me to ensure our on-air product is the best.”  Caracciolo comments, “Our company is in rapid-growth mode and we require someone with a significant and successful programming background to show that live and local radio is what listeners and clients want and can be done well.  Stevie’s history and background in Orlando allows JVC such a leg up on the competition in that market.  His experience in big markets like Boston, Orlando, and others will lend a tremendous hand with our already successful team in Gainesville-Ocala.  I am very excited about the future of JVC in Florida and across the country!”

Impeachment Process/Ukraine Affair, 2020 Presidential Race, SCOTUS Hears DACA Arguments, Trump-Erdogan Meeting, Bitter Cold U.S. Weather, Hong Kong Violence, and the NFL’s Kaepernick Workout Among Top News/Talk Stories Yesterday (11/12). The impeachment process against President Trump and allegations against him in the Ukraine affair; the Supreme Court hears arguments about the status of the Obama Administration’s Deferred Action for Childhood Arrivals act; the controversy surrounding President Trump’s scheduled meeting today (11/13) with Turkish President Recep Tayyip Erdogan; the unseasonably cold weather affecting the U.S. north and east; the violent protests in Hong Kong; and the NFL-organized workout for quarterback Colin Kaepernick were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Rose Anderson, VP/Executive Director of the New York Festivals Radio Awards Is This Week’s Guest on Harrison Podcast.  New York Festivals, the prestigious, long-running international awards organization spotlighting quality in the fields of advertising, TV & film, and radio will be opening its acceptance of entries for the 2020 radio competition tomorrow (11/13) along with presenting information about its exciting new presentation in April.  Full details will be posted in TALKERS tomorrow.  In the meantime, the organization’s vice president and executive director, Rose Anderson, is this week’s guest on the award-winning PodcastOne series “The Michael Harrison Interview.”  Anderson, who brings years of experience as a network TV producer to her role at NYF, joins Harrison in a fascinating conversation about the renaissance of storytelling in the radio field as well as other exciting changes the industry is experiencing in the rapidly evolving digital era.  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 of the TALKERS email newsletter and on every page of Talkers.com.

WTOP, Washington Seeks Director of News and Programming. Washington, DC all-news WTOP-FM is seeking a director of news and programming.  Hubbard Radio says this person, “leads WTOP, an effective organization of over 100 people consisting of news directors, writers, anchors, reporters, editors, and staff to provide the best available local, national and international news, traffic, weather, sports and money news across all media platforms, including radio, internet and social media while serving as brand manager to maintain the imaging, marketing and overall sound.”  Essential job functions for this position include: Overall responsibility for WTOP news gathering, production, news programming and presentation across multiple platforms with the utmost in quality control; provides effective leadership to a diverse workforce covered by a collective bargaining agreement that operates 24 hours a day, 7 days a week; establishes short and long term program format objectives, strategies and plans to achieve maximum listenership of a quality product across multiple platforms; ensures that all programming is in compliance with state and federal laws and FCC Rules and Regulations; liason between company management and union.  For more information and to apply, click here.

Cool Talk Radio Sales Opportunity. In New York City, Salem Media Group is seeking an account executive for radio and digital sales.  Here’s the ad: Salem Media Group is looking for a dynamic individual to join the sales team for “AM970 The Answer” and the legendary WMCA “AM570/102.3FM The Mission, New York’s Christian Talk.”  Compensation is commensurate with degree of experience and skills.  This is a fabulous career opportunity for the right individual with one of the finest broadcasting companies in America.  Ideal candidate has a proven track record of success with radio and digital sales.  Interested candidates should apply online and email cover letter and resumes to Jerry Crowley’s attention.

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Category: Front Page News, Industry News

 
 
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Springfield, MA
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