Wednesday, April 17, 2013
Wednesday, April 17, 2013
If You Haven't Already Visited Talkers.com Today, Here's Some of What You're Missing...
Arbitron Shareholders Approve Acquisition by Nielsen Holdings N.V.
At yesterday's special meeting of stockholders, Arbitron's shareholders voted to approve the acquisition of the company by  Nielsen Holdings N.V. with 98.99% of the shares voting in favor of the agreement and plan of merger. These shares represented approximately 77.11% of total outstanding shares of Arbitron common stock as of the March 8, 2013 record date for the Special Meeting. As previously announced on December 18, 2012, Arbitron Inc. and Nielsen Holdings N.V. entered into a definitive agreement for Nielsen to acquire all of the outstanding common stock of Arbitron for $48.00 per share in cash. The deal remains subject to certain regulatory approvals, including expiration of the Hart-Scott-Rodino antitrust waiting period, and customary closing conditions.
Dial Global Closes on Recapitalization.
Dial Global first announced plans to enter into recapitalization of its existing credit facilities, other obligations and equity interests back on March 4. Now, it reports it has entered into an Amended and  Restated Credit Agreement with General Electric Capital Corporation, as administrative agent and collateral agent on a "First Lien Credit Agreement," which, after taking into account a $15 million paydown, consists of a term loan of $136 million and revolving credit commitments of approximately $23 million, $18 million of which is drawn. The maturity date for that is October 21, 2016. DG also states it has entered into a Priority Second Lien Credit Agreement with Cortland Capital Market Services, LLC, as administrative agent and collateral agent, Blackrock Kelso Capital Corporation, as syndication agent and as the lender party for an additional $31.5 million term loan facility, with a maturity date of July 21, 2017. The Company issued to Blackrock penny warrants to purchase 7.5% of the Dial Global common stock. The Second Lien Credit Agreement was a restructuring of the existing approximately $93 million in second lien obligations and was accomplished by amending and restating the Second Lien Credit Agreement to provide for a $30 million term loan with a maturity date of April 16, 2018 and exchanging approximately $63 million in remaining obligations under the prior Second Lien Credit Agreement for a new Series A preferred stock of the Company. Lenders received penny warrants to purchase 12.0% of the Company's common stock and 12.0% of the outstanding shares of Series B preferred stock, Series C preferred stock and Series D preferred stock. Those will be subject to forfeit, in whole or in part, if the Dial Global retires all or a portion of the $30 million second lien term loan and the Series A preferred stock held by such 2L lenders prior to certain specified dates. As part of these agreements, stockholders of preferred stock and warrants were granted certain corporate governance rights, including the right to elect three directors to the Dial Global's new eight-person board of directors. The three newly-elected directors are Brian Pope, Marshall Merriman and Ethan Underwood.
Washington Post's Erik Wemple Examines Smerconish Departure from WPHT.
In a piece in the Washington Post, media writer Erik Wemple takes a look at Michael Smerconish's exit from longtime home base WPHT, Philadelphia for his new employer SiriusXM and, more  specifically, Smerconish's unwillingness to be defined as a dyed-in-the-wool conservative Republican and the CBS Radio station's move to remain true to the conservative talk radio philosophy. Smerconish debuted this week on the satcaster's POTUS channel – politics of the United States – that serves those interested in politics in general as opposed to the conservative and liberal talk channels the service also offers. Smerconish is not afraid to criticize what he believes are faults with both the news/talk format or the country in general, telling Wemple, "The problem for the country, I think, is that too many [people] cannot differentiate between entertainment and substance. The country is paying a price for this brand of polarized media…Too many politicians are taking th.êr cuos}'uom people with microphones." Wemple spoke with WPHT GM Marc Rayfield who says Smerconish's philosophical change over the past few years veered from the station's objective. He says there's little passion for "middle-of-the-road." He also says Smerconish "didn't serve our core values. We wanted to remain conservative…We had been talking about the direction of the radio station for some time and we came to a mutual conclusion that we were not necessarily the best fit for each other." Michael Smerconish will deliver the State of the First Amendment address at the Talkers New York 2013 conference in New York on Thursday, June 6. Read Wemple's piece here.
Radio Legend Jim Bohannon Celebrates 30 Years in Syndication.
The lifelong radio broadcaster has been in national syndication with Dial Global and its predecessors for 30 years as of Friday, April 19  when he celebrates that mark. Jim Bohannon began with the old Mutual Radio Network as a reporter and then started filling in for Larry King on his nationally syndicated program. The network was acquired by Westwood One and Bohannon took over for King's late night slot in 1993. Bohannon recently re-signed with Dial Global (which acquired Westwood One) and will be honored with the "Lifetime Achievement Award" from TALKERS magazine at th.£Talkcr.aIew York 2013 industry convention in New York City on Thursday, June 6.
Doug Stephan Adds a Dozen Affiliates.
Doug Stephan's Stephan Multimedia reports the company has picked up a dozen new affiliates for the company's radio offerings  including Stephan's "Good Day" nationally syndicated morning program, the weekend "Talk Radio Countdown Show" and others. New affiliates include: WNZS, Bangor, Maine; KTPA, Prescott, Arizona; WLBK, DeKalb, Illinois; KLEY, Wellington, Kansas; KMAS, Shelton, Washington; KVPI, Ville Platte, Louisiana; KXAR, Hope, Arkansas; KKLE, Winfield, Kansas; KOAL, Price, Utah; KUGN, Eugene, Oregon; WICO, Ocean City, Maryland; and WTIM, Taylorville, Illinois.
Media Management Group Expands into Network Syndication; Warren Eckstein's Pet Show Joins Initiative.
 Longtime WOR, New York and WOR Radio Network personality Warren Eckstein returns to national syndication via Media Management Group's new MMG Radio Network division. The syndicator reports Eckstein's "The Pet Show" launched on Saturday, April 6 on more than 100 stations. Additionally, Warren's "Pet Tip" can be heard daily on more than 200 stations. MMG also announces the new network will be led by Alan Eisenson, MMG's EVP of business development. MMG states, "Eisenson has a 23-year background successfully  programming news/talk radio stations in New York, Denver, Las Vegas and, most recently, Clear Channel's news/talk properties in Sacramento and San Francisco." On the new initiative, Eisenson says. "As the industry environment continues to evolve, the opportunity presented itself to acquire some of the format's top talent in various niches. We're thrilled to have seized that opportunity. We're honored to be working with an accomplished pro like Warren Eckstein, and excited by the array of top caliber talent to come as we expand the network." The MMG Radio Network says it will eventually include 12 hours of programming produced weekly and tailored for stations' weekend lineups. The programs will also include a broad roster of digital elements, making them completely customizable for listeners to consume exactly when and how they wish.
Seton Hall University Radio Station Honors Alumni Glenn Schuck and Bob Windrem.
 
Two alumni of Seton Hall University's radio station WSOU, South Orange, New Jersey "The Loudest Rock" were honored at the station's Hall of Fame induction ceremony this past Saturday. WINS, New York reporter Glenn Schuck (left) and NBC News producer Bob Windrem (right) were inducted during WSOU's 65th anniversary dinner, which drew more than 200 people together to celebrate the station's birthday. Some of the attendees included station alumni Bob Ley, Anthony Delia, Bill Rock, Full Metal Jackie, Pete Tauriello, Christina Stoffo, Frank Garrity, Mike DePippa, Joe Guzick, Mark Mitchell, and Gary Susalis, among others.
Boston Marathon Bombing Aftermath, Gun Legislation Proposals, and Teen Rape/Suicide Cases Among Top News/Talk Stories Yesterday (4/16).
The aftermath of the Boston Marathon bombing was the dominant story on news/talk radio across the country on Tuesday. Other stories that registered included proposals for gun legislation and the high-profile cases of young teens allegedly raped who then committed suicide. The top stories are the result of ongoing research from TALKERS magazine.
The 2013 Heavy Hundred
 The editors of TALKERS magazine, with input from industry leaders, present the 100 Most Important Radio Talk Show Hosts in America –– a popular annual feature that has come to be known as the "Heavy Hundred." This is one of the most challenging tasks that TALKERS undertakes each year considering that there are thousands of talk show hosts across the country, ranging from national icons to those laboring in relative obscurity. Aside from the hosts whose sheer numbers and fame demand their inclusion on this list, the selection process is subjective with the goal being to create a list reflective of the industry's diversity and total flavor as well as giving credit where credit is due. The TALKERS magazine editors who painstakingly compile this super-list draw upon a combination of hard and soft factors when evaluating candidates. These include (in alphabetical order): courage, effort, impact, longevity, potential, ratings, recognition, revenue, service, talent and uniqueness. We acknowledge that it is as much art as science and that the results are arguable. There is one concrete qualification for inclusion. Hosts must be working at the time TALKERS magazine initially posts the list in order to be considered. They must have a regularly scheduled professional show on the air at a minimum of one terrestrial or satellite radio station at "press time." The list remains intact from that point forward until the next year's edition. In past years, TALKERS magazine has included sports talk hosts in the Heavy Hundred. Last year, due to the massive growth in the sports talk genre, sports talk radio has earned a Heavy Hundred of its own, the 2013 installment of which will be published by TALKERS in the coming months. TALKERS magazine salutes the fine broadcasters who made this year's list. To view it click here.
A Serious Loss for Howard Stern
By Steven J.J. Weisman
TALKERS
Legal Editor
 BOSTON — Sometimes it is, as Mel Brooks commented in his movie "The History of the World, Part One," good to be the king. But other times it is not. Howard Stern, the self-proclaimed (and not too far off) "King of All Media" took a hit last week when the dismissal of his lawsuit against Sirius XM Radio, Inc. in which he sought more than $300 million in stock awards was upheld by the Appellate Division of the New York Supreme Court.
In order to understand Stern's lawsuit, which he filed in 2011, it is important to review the history of Stern's relationship with Sirius. Satellite radio was in its infancy in 2004 when Stern signed with Sirius after being courted by both Sirius and its then sole satellite radio competitor XM Satellite Radio. In the year prior to Stern joining Sirius, its subscribers numbered less than 700,000 while XM had 2.5 million subscribers. Upon the announcement in October of 2004 that Stern would be broadcasting on Sirius beginning in 2006, Sirius' stock went up a whopping 15%. After a year of trumpeting his journey to Sirius radio, Howard Stern had his initial broadcast on Sirius in January of 2006. By this time the number of subscribers to Sirius had risen to well over 3 million." Read this entire story here.
True Believers
By Chris Miller
Miller Digital
 SHAKER HEIGHTS, Oh. — "I ran into to another couple of True Believers this past week.
True Believers are the radio folks I talk to who just know deep in their heart of hearts that the brilliant use of our digital tools could help radio be the best it could possibly be. When I talk with them, they often just see so clearly how to fit all our different platforms together and how to use them. Most of them seem to feel a level of frustration, too. I suspect that's because they are often the one person at work who is both knowledgeable and passionate about the potential of these tools.
If you think that describes you, here are a couple of ideas on how to lessen your frustration level. I think these might help you in other ways, too. Ideally, they'll help position you as the radio/digital expert in your workplace, and help accomplish what you want to, as well. Read the complete story here.
Radio Should Learn About Hyperlocal Marketing
By Walter Sabo
Sabo Media
 NEW YORK — "A vital revenue and programming trend to understand is "hyperlocal" marketing. It is easy to assume that live, local radio is hyperlocal but in marketing terms it is not. Hyperlocal to a brand marketer is content, technology and commerce that is one step in front of the target customer. Hyperlocal marketing influences the buying decision at the moment of decision and purchase.
For example, if your station offers an app with hyper-local commerce capabilities, a listener carrying that app could pass by a Dunkin' Donuts, and through GPS, the app could signal the listener that they can walk into DD and receive a free donut. That's hyper-local marketing at its simplest.
The levels of usage are profound. Advertisers can now separate customer leads from page views of ads on your website. According to Tech Crunch, Yelp is announcing a new feature intended to highlight and quantify the value that the listing and review site provides for small businesses. The feature separates customer leads from page views — those leads can include things like bookmarking a Yelp business listing, mapping directions to the business, placing a phone call from the Yelp app, or purchasing a Yelp deal. Read the complete story here.
Stranger Than Fiction
By Thomas R. Ray, III CPBE, AMD, DRB
Tom Ray Consulting
 NEW YORK — "March was a bizarre month. I don't know if it was the full moon last week, the expectation of a spring that wasn't quite here yet or what. Here are two examples: I would have asked that this be published on April 1, but too many people would think this was an April Fools gag. I swear, I couldn't make this one up!
Where's the Proof?
I have a client station that I'm working for on a submission to the FCC. It involves a directional AM antenna, and we need to submit the results of a Partial Proof of Performance on the antenna system – one done before a modification, one done after. Only problem is, the station cannot locate the full Proof of Performance of record on the antenna system. Read the complete story here.
Interview Your Dentist
By Hollland Cooke
Radio Consultant
 BLOCK ISLAND, R.I.— "Assume that, in meetings you're not invited to, tough decisions are on the table. And as cutbacks continue, it's real smart for on-air personalities to seem real valuable to the sales department. If your endorsement spots move product, bean counters view you as "revenue," not just expense.
Savvy hosts are pro-active, not just reactive. They THINK sales, spotting prospects everywhere, and tipping-off the sales department.
Next time you slide-into the dental chair, you might chat-up your doc…at least until he or she numbs you.
Though laser eye surgeons are still using radio, the category has cooled, as the market saturated, and with demand being met. Prediction: Dentists will be worth even more to radio than laser eye surgeons have been, for five reasons:
1. They need new patients. In the two generations since Baby Boomers squirmed into the chair, dentistry has evolved. Amalgam fillings were profitable work in the 1960s. As fluoride and better care have reduced cavities, dentists' new opportunities are… Read the complete story here..
Keeping it Local is KSCO's Key to Success
By Jeff McKay
TALKERS
 SANTA CRUZ, CA— "The news/talk radio station in question is not owned by a hedge fund or multi-billion dollar conglomerate. Their ownership group doesn't occupy the top floors of a big-city skyscraper. You will not see the morning or afternoon show brandishing seven-figure contracts, nor the corporate PD flying into town on the company Lear jet, or the "brand manager" moving from market to market implementing new strategies to grow the market cluster.
The fact of the matter is none of the above elements – which have become somewhat commonplace in today's radio industry – at this station exist.
10k KSCO (1080 AM) is located in Santa Cruz, California, in a neat stand-alone building (that also houses its smaller sister station KOMY 1340 AM – a facility that owner Michael Zwerling uses as a developmental farm club) on a piece of land that overlooks the Pacific Ocean that would be the envy of any real estate developer in this town known for its college, beach and boardwalk, liberalism, and state park land and forests. It is an 80-minute drive from San Francisco. Read the complete story here.
Endorsements Should Be Interesting
By Michael Berry
Talk Radio Host
 HOUSTON— "All I ever hear radio industry execs talk about is ratings and revenues, as if the two go hand in hand. With music stations, that may be true. But talk radio's future will be determined by our ability to get results for our advertisers. That includes, but is not limited to, ratings, and it probably has more to do with ratings in categories currently seen as less, or altogether un-, important; namely, 55 and up, or 35-64.
Ratings are not an end in themselves, but rather a pricing mechanism by which advertisers determine the rates they will pay. In an industry which measures itself primarily, indeed almost exclusively, on the 25-54 demo, it's good to remember how many people are active consumers who don't fit into those niches. Twenty-five-year-olds don't buy houses, or improve them. Their bodies aren't breaking down, so they don't need all the medical advancements of companies willing to advertise those services. They are not investing, banking, exercising, losing weight, restoring vision, or maintaining a house that needs everything from new pipes to electrical to roofing to driveway pavers to a pool. In short, radio can still be very profitable as our society ages by appealing to direct-buy advertisers. But only if radio can yield results for the client. Think about it: listeners tune to music radio to zone out to music, and when someone talks it's a distraction. Listeners tune to talk radio to be engaged, and the talk by the host is what they sought. If the host's endorsement of a product could be as compelling as his discussion of Obama's hypocrisy, imagine the boon to advertisers. Winning the ratings war for most listeners under 54 does not necessarily yield financial returns to the people who pay for advertising. It is not the size of the audience, but rather the size of the response for the advertiser, that will build loyalty in clients. So how do we get results for clients, especially live, direct clients? Read the complete story here..
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