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| Before news breaks, it must bend... and that’s where we come in. |
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Audacy Completes Financial Restructuring
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| Audacy, Inc. announced that it has successfully completed its financial restructuring, implementing "a fully consensual, deleveraging transaction that equitized approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to $350 million."
Audacy will continue to be led by current Pres. & CEO David J. Field (left) and its existing management team. Field will also serve on the Company's new Board of Directors. "We are pleased to have successfully achieved all of our restructuring goals, emerging with an outstanding balance sheet, delivering industry-leading growth, serving our listeners and advertisers with excellence and honoring our commitments to employees and partners,” said Field. "Today, Audacy embarks on our next chapter, capitalizing on our position as a scaled, multi-platform audio leader, differentiated by our exclusive, premium audio content, including our unrivaled leadership in sports audio, powered by our industry-leading financial strength and focused on accelerating our innovation and digital transformation. We are maximizing a broad set of opportunities to further accelerate our growth for the benefit of Audacy and all of its stakeholders."
Concurrent with the completion of its restructuring, Audacy is expected to become a private company.
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Radio is trained to think that P1 is most important, but maybe 1P is even more important. The NuVoodoo crew shares ideas and data in this week's "Moneyball for Radio" feature, now posted at RAMP247.com, right below Breaking News.
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FCC Approves Audacy Reorg Plan
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| The Federal Communications Commission (FCC) has formally approved Audacy's reorganization plan, which will allow it to emerge from Chapter 11.
A statement from FCC Chairwoman Jessica Rosenworcel reads: "In this decision, we approve the assignment of licenses held by Audacy, which has been under the control of a bankruptcy court, to the new Audacy, so that the company can emerge from bankruptcy proceedings. The process we use to facilitate this license transfer is identical to the one recently used by the agency in the bankruptcy proceedings of Cumulus Media in 2018, iHeartMedia in 2019, Liberman Television in 2019, Fusion Connect in 2019, Windstream Holdings in 2020, America-CV Station Group in 2021, and Alpha Media in 2021. To suggest otherwise is cynical and wrong, as this precedent clearly demonstrates. Our practice here and in these prior cases is designed to facilitate the prompt and orderly emergence from bankruptcy of a company that is a licensee under the Communications Act."
It's no secret that the Plan has its detractors, as the Commission voted 3-2 in favor along party lines. (Read the dissenting statements from Republican Commissioners Nathan Simington and Brendan Carr here).
NAB President & CEO Curtis LeGeyt commented, "NAB is pleased to learn that the Federal Communications Commission has approved Audacy's reorganization. While we do not take a position on the merits of this or any particular broadcast transaction, it is essential that the FCC's regulatory processes are fair and predictable so that broadcasters can innovate and invest in their stations to the benefit of communities across the country. Make no mistake, broadcasters and our current and potential investors continue to watch the Commission closely. To ensure a vibrant future, we need a transparent, fair and predictable regulatory process for broadcast license transfers and renewals -- devoid of politics -- that allows local radio and television stations a fair chance to compete for the investment capital that is necessary to continue serving the public. Without it, the vital services local stations provide for free to all is in jeopardy."
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SummitMedia Executive Action
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| SummitMedia, LLC has introduced Mike Hogan as the new President & General Manager to oversee operations in the company's Omaha, NE group.
Hogan (left) brings with him more than 25 years of experience in management, sales, and marketing, most recently serving as Market President for iHeartMedia Sioux City, IA and Ogallala, NE. The new gig also means a return to the Omaha market for Hogan, who earlier in his career led sales and managed accounts for Journal Broadcast Group (now SummitMedia) Omaha, earning the company's coveted Trailblazer, Excellence in Sales, and Gold and Silver Sales Awards during his tenure.
"We're excited to have an executive of Mike's caliber running our Omaha cluster" said SummitMedia Chairman & CEO Carl Parmer. "He brings incredible experience, expertise, and leadership to our team."
"The privilege to return to where my radio career began over 30 years ago is quite an honor," Hogan said. "I look forward to leading the talented team at SummitMedia in Omaha as we develop even stronger relationships with our listeners, clients, and the communities we serve."
• SummitMedia Omaha includes AC KSRZ (Star 104.5); Classic Rock 105.9 KKCD; Top 40 KQCH (Channel 94.1); Mainstream Rock KEZO (Z92); and Sports-Talk KXSP-AM (AM 590 ESPN Omaha).
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New Day(time) Dawns At Denver's Fan
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| Bonneville Denver announced an update to the morning and midday on-air lineup on KKFN (Denver Sports 104.3 The Fan) -- the moves start with eight-year midday vet Brandon Stokley being elevated to morning drive, joining Mark Schlereth and Mike Evans.
The result is the rebranded Stokley and Evans with Mark Schlereth, weekdays from 6-10am. (l-r): Stokley, Evans, & Schlereth
In making the announcement, PD Amanda Brown said, "Brandon Stokley is one of the top radio personalities in the market. Placing his unique blend of energy, enthusiasm and textbook charm alongside an iconic duo like Schlereth and Evans will provide a much needed shot of energy to your morning."
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| Stokley's morning move now affords longtime Denver sports analyst Cecil Lammey (right) the opportunity to step into a well-deserved full-time midday co-host spot alongside Josh Dover (left).
Brown noted, "Cecil Lammey has been a staple in the Denver sports scene for nearly two decades. His passion for community and tireless dedication to his craft make him the perfect fit alongside fellow Colorado native Josh Dover."
Katie Reid, SVP/Market Manager of Bonneville Denver, commented, "I'm excited to showcase Stokley and Cecil in different timeslots; these small shifts offer a big opportunity for them to entertain and engage with new audiences."
• Here is the updated weekday lineup on Denver Sports 104.3 The Fan -- 6-10am: Stokley and Evans with Mark Schlereth; 10am-2pm: Dover and Cecil; 2-6pm: The Drive with Zach Bye and Phillip Lindsay; 6-7pm: Denver Sports Tonight.
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Phoenix Wakes Up With Maddie
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| Desert Valley Media Group Hot AC KMVA (HOT 97.5 & 103.9)/Phoenix is thrilled beyond reasonable doubt to welcome market veteran Maddie Reis as the host of the all-new Maddie in the Morning.
Already used to waking up ungodly early, Reis (left) previously served as Executive Producer of The Morning Mess across the street at Audacy's KALV (Live 101.5), as well as EP for The Chet Buchanan Show on Audacy Top 40 KLUC/Las Vegas, where she honed her skills in show production and audience engagement. No stranger to big-city radio, Reis earlier worked on The TJ Show at former Audacy Top 40 WODS (103.3 AMP Radio)/Boston.
Program Director Mike Gallagher said, "This is one of those 'where-preparation-meets-opportunity' moments. Maddie is ready to make her mark, and I couldn't be more thrilled to add her to the team."
Reis remarked, "I'm beyond excited to join HOT 97.5 and 103.9 with my new show, Maddie in the Morning. Becoming a radio personality has been my dream since I was a kid, so hosting my own show is truly a dream come true. There's no better way to start the day than here in the Valley, and I can't wait to wake up with our listeners, sharing great music and plenty of laughs."
Desert Valley CEO Mike Cutchall added, "Maddie blew us away in the interview, and putting someone in their 'dream job' is a winning formula for this company."
Reis succeeds market mainstay Deongello "Gello" Vanorsby, who recently returned to afternoon drive across the hall on Rhythmic sibling KKFR (Power 98.3).
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Building The Perfect Playlist
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| Which songs define the sound of the last 25 years -- the first quarter of the 21st century? That is the challenging question that non-comm public radio station 88.5 WXPN/Philadelphia has posed to its musically astute listeners to answer, in order to construct the ambitious playlist that will comprise the "885 Greatest Songs of the 21st Century."
From now through Nov. 8, WXPN listeners can vote for their own personal top ten songs released between 2000 and 2024. Those lists will shape the definitive list of 21st century songs that WXPN will reveal starting on Dec. 5. Each voter will be entered to win weekly prizes from WXPN, and a grand prize of a year's worth of concert tickets for two.
"Creating a playlist of the top 885 songs of the 21st century is probably the most ambitious undertaking in the 21 years we've been doing them," said Bruce Warren, WXPN Associate GM for Programming. "Because the outcome is totally dependent upon the passionate voices of XPN listeners, the playlist will directly reflect their input on what will essentially be the soundtrack of a generation."
Since 2004, WXPN has crowdsourced and broadcast "ultimate" lists in various musical categories, such as last year's "885 Greatest Songs by Women." The popular end-of-year special programming can last for more than a week, and each year, listener excitement and engagement builds as the 885-song countdown gets closer to the top-ranked songs.
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| • iHeartMedia's WWPR (Power 105.1)/New York announced the addition of Cash Cobain and Bay Swag to the lineup for Powerhouse 2024, happening Saturday, Oct. 26 at Prudential Center in Newark, NJ.
They join previously announced performers including A Boogie Wit Da Hoodie, Gunna, Sexyy Red, BossMan Dlow, Jordan Adetunji, On The Radar, and SpinKing & Friends, with more acts TBA. Power 105.1's Powerhouse 2024 is produced by Live Nation.
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| • As iHeartMedia released the lineups for its 2024 Jingle Ball Tour yesterday, there was one station noticeably missing -- WRDG (96.1 The Beat), "Atlanta's New Home for Hip Hop, R&B and The Breakfast Club," which now completes the mission with the reveal of the artists scheduled to perform at its Jingle Ball 2024 Presented by Capital One -- Sexyy Red, Tip “T.I.” Harris, T-Pain, Saweetie, The Kid LAROI, Khalid and Tinashe.
The big show is happening on Thursday, Dec. 19 at State Farm Arena.
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| • The tributes to the late, legendary Kris Kristofferson continue -- Rick Jackson, host of the USRN-syndicated Rick Jackson's Country Classics is producing a retrospective of Kristofferson's lengthy career for this weekend's show, carried on 160 affiliates across America.
As Jackson explains to RAMP, "I'll be featuring a four-song segment in each one of the hours of our three-hour program, playing all of the hit songs he wrote and recounting the highlights of his amazing career." Questions? Contact Jackson at Rjaxwhitt@gmail.com.
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| • Our friends at Benztown have produced an Audio Tribute to Major League Baseball’s all-time "Hit King" -- Cincinnati Reds legend Pete Rose, who passed away yesterday at 83.
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| • Beasley Media Group is partnering with the Red Cross as part of the Company's ongoing Community of Caring Initiative to support individuals, families and communities that have been seriously impacted by the devastation caused by Hurricane Helene.
Beasley radio stations across the country are encouraging listeners and advertisers to show their support by making monetary donations online via local station websites and at bbgi.com to help the Red Cross Hurricane Helene Relief effort.
In addition to running on-air and online PSA's, the initiative will be supported utilizing Quu in-car dashboard messaging to encourage donations to the Red Cross relief effort.
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| • Audacy Hot AC KMXB (Mix 94.1)/Las Vegas just wrapped up its annual Four Corners Food Drive, which ran from Monday, Sept. 23 through Friday, Sept. 27.
Mix 94.1 Brand Manager J. Love tells RAMP, "Last year we raised over $77,000, which equates to 231,000 meals -- this year, we shattered last year's number by raising $201,748 for Three Square, which equates to 605,244 meals that will be provided to our neighbors in need!"
Pictured, holding up the ceremonial giant cardboard check, (l-r): Stephanie Sidela (Executive Producer, Mercedes in the Morning); JC Fernandez (co-host, Mercedes in the Morning); Mercedes; J. Love, and Heather Collins (Asst. Brand Manager/Afternoon Drive).
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