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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 01:02 PM
    From All Access: Kudos to SHOW DOG NASHVILLE's TOBY KEITH, who raised more than $1,090,000 during his "15TH ANNUAL TOBY KEITH & FRIENDS GOLF CLASSIC" event earlier this month at BELMAR GOLF … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 01:02 PM
    From All Access: Congratulations to MOUNT WILSON FM BROADCASTERS Country KKGO (GO COUNTRY 105.1)/LOS ANGELES "GRAHAM IN THE MORNINGS" Assoc. Producer AMIE MANGOLA, who wed her fiance, JOSE, over the … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 01:02 PM
    From All Access: Kudos to BIG LOUD's CRAIG WISEMAN, who raised $180,000 at his "14TH ANNUAL STARS FOR SECOND HARVEST" benefit concert that took place TUESDAY, JUNE 5th at the RYMAN AUDITORIUM in … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From Radio Online: Liberty Media, owner of SiriusXM, has rescinded a proposed $1.16 billion cash deal for a 40 percent stake in iHeartMedia, reports the Hollywood Reporter. Liberty Media previously offered to help iHM avoid its bankruptcy filing with the cash infusion, but that proposed deal was rejected by iHeart creditors … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From All Access: Continuing its look at the pivotal year of 1968 on the occasion of its 50th anniversary, WESTWOOD ONE NEWS is feeding another special focusing on that year for INDEPENDENCE DAY week, this one … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From All Access: iHEARTMEDIA/WASHINGTON, D.C./BALTIMORE is looking for a Digital PD to head up digital operations, content, and social media strategy for the region. Based in ROCKVILLE, MD, the ideal … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From All Access: Singer SIA, actress LENA DUNHAM and other celebrities protested the TRUMP ADMINISTRATION's migrant parent/child policy at the border city of TORNILLO, TX, CNN reports. "We came to … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From All Access: MT. WILSON BROADCASTERS Country KKGO (GO COUNTRY 105)/LOS ANGELES has retained the services of CURB NASHVILLE's DYLAN SCOTT for midday duties during JULY, continuing the station's … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From All Access: NELARUSKY, the 12th annual official LOLLAPALOOZA Aftershow, will be held JULY 31st at THE METRO. Headlining will be QUINN XCII, who will be supported by FLETCHER and JOHN SPLITHOFF. Over … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 12:31 PM
    From All Access: ENTERCOM News KYW-A/PHILADELPHIA will hold its 9th annual KYW NEWSRADIO Women’s Achievement Awards on JUNE 28th at the LOEWS PHILADELPHIA HOTEL in CENTER CITY and has announced this … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 11:52 AM
    From Radio Online: neXt2rock 2018 led by Cumulus Media kicks off its second annual grassroots and national search for the nation's newest star in over 46 markets across the U.S., including Los Angeles, Chicago, San Francisco, Minneapolis and Atlanta. Beginning Monday, local artists may enter the competition via the neXt2rock website or … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 11:18 AM
    From the FCC: 220 Applicants Qualified to Bid in the Connect America Fund Phase II Auction (Auction 903); Bidding to Begin on July 24, 2018 Qualified bidders are announced for Auction 903 https://www.fcc.gov/edoc/351930
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 10:21 AM
    From All Access: Beginning TODAY, CUMULUS MEDIA's neXt2rock 2018 kicks off its second annual grassroots and national search for the nation’s newest star in over 46 markets across the U.S., including … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 10:21 AM
    From Radio Insight: EW Scripps has announced the first of its planned divestments of its radio properties with the sale of its five stations in Tulsa OK to Griffin Communications for $12.5 million. The privately held Griffin currently owns four television stations in Oklahoma: CBS affiliate KOTV 6 and CW affiliate KQCQ 19 in Tulsa and CBS/CW affiliate KWTV 9 and MyNetworkTV affiliate KSBI 52 in Oklahoma City. The company has a long history in radio as the previous owners of 1430 KTUL Tulsa and 1520 KOMA Oklahoma City. It also currently owns the statewide Radio Oklahoma Network. The stations involved in the sale are: Classic Hits “92.9 The Drive” KBEZ, Country 98.5 KVOO, Classic Country “Big Country 99.5” KXBL, CHR “106.9 K-Hits” KHTT, and News/Talk 1170 KFAQ. Scripps announced its intent to sell its radio assets in January of this year. The E.W. Scripps Company (NASDAQ: SSP) has reached an agreement to sell its group of five radio stations in Tulsa, Oklahoma, to Griffin Communications for $12.5 million. Oklahoma-based Griffin is purchasing KFAQ (1170 AM), KHTT (106.9 FM), KVOO (98.5 FM), KXBL (99.5 FM) and KBEZ (92.9 FM). The transaction is expected to close in the fourth quarter. The sale is the first in what Scripps expects to be a series of radio sale transactions. The company announced in January its intent to sell all its radio stations. Including the Tulsa stations, Scripps’ portfolio includes 34 radio stations in eight markets. “Griffin Communications has a long history of serving Oklahomans through a multiplatform approach to news and entertainment,” said Adam Symson, Scripps president and CEO. “We believe our Tulsa radio stations and their employees are a natural fit for Griffin and its vision. “In addition, this transaction is a promising start to the sale of our entire radio station group, which was one of the pillars of our strategy for returning value to shareholders. We expect more announcements soon.” Griffin Communications is a privately held multimedia company with a focus on Oklahoma. It owns and operates four television stations and their digital platforms in Oklahoma City and Tulsa and runs a portfolio of advertising businesses, including a digital billboard company. Griffin is headquartered in Oklahoma City. Kalil & Co., Inc. is the exclusive broker for this transaction. The post Scripps Sells Tulsa Cluster To Griffin Communications appeared first on RadioInsight. more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 10:21 AM
    From Radio Insight: Earlier today Gray Television and Raycom Media announced their intentions to combine in a $3.6 billion transaction that will give the company 142 television stations across the country. Just like TEGNA’s recent purchase of 760 KFMB/100.7 KFMB-FM in San Diego, Hearst’s continued ownership of 1090 WBAL and 97.9 WIYY Baltimore, and Sinclair seeking to add Tribune’s 720 WGN Chicago to its 570 KVI, 1000 KOMO/97.7 KOMO-FM, and AC “Star 101.5” KPLZ Seattle as part of that merger, there are a small amount of radio assets included in this deal keeping the biggest television station groups with a toe in the radio industry.. Raycom currently owns a pair of Regional Mexican stations that will go along to Gray in this deal: “102.9 Mundo-FM” KEYU Amarillo and “La Ley 104.7” KTXC Lamesa/Midland TX. Both stations were acquired as part of Raycom’s acquisition of Drewry Communications in 2015. Those two stations are currently operated in tandem with the local Telemundo affiliates owned by Raycom in their respective markets. Gray has not commented publicly on if it has plans for its soon-to-be entry into the radio business. Gray Television, Inc. (“Gray”) (NYSE: GTN and GTN.A) and Raycom Media, Inc. (“Raycom”), an employee-owned company, jointly announced today that they have entered into an agreement to combine their companies in a transformative transaction that will create the single largest owner of top-rated local television stations and digital assets in the country. This transaction marks Gray’s transformation from a small, regional broadcaster into a leading media company with nationwide scale based on high-quality stations with exceptional talent in attractive markets. Gray and Raycom have highly complementary portfolios of television stations as well as highly complementary company cultures, award-winning journalistic commitments, and long histories of commitments to exceptional community service. Gray in particular is delighted to announce that, upon the closing, Raycom President and CEO, Pat LaPlatney, will become Gray’s President and Co-Chief Executive Officer. In addition, Mr. LaPlatney and Raycom’s former President and CEO, Paul McTear, both of whom are currently members of Raycom’s Board of Directors, will join Gray’s Board of Directors. At that time, Hilton Howell will become Executive Chairman and Co-Chief Executive Officer of Gray. The transaction is subject to customary closing conditions and regulatory approvals. The parties expect to close the transaction in the fourth quarter of 2018. Gray also announced today that, on July 1st, Bob Smith will become its Chief Operating Officer and Nick Waller will become its Chief Administrative Officer. Currently, Bob and Nick serve as Co-Chief Operating Officers. In his new role, Bob will oversee station operations and sales operations through the closing of the transaction. During that period, Nick will oversee human resources, information technology, traffic and CRM systems, capital projects, and performance benchmarking. Nick also will focus on the transition and integration of pending acquisitions. As detailed below, Gray and Raycom will host a conference call for all stakeholders and other interested parties beginning at 9:00 a.m. Eastern today to discuss this transaction further. Additional information about the transaction can be obtained from Gray’s Current Report on Form 8-K being filed with the SEC in connection with the announcement of this transaction, including the investor presentation furnished therewith, which presentation will also be available on Gray’s website. A Compelling Combination The combination will create a dynamic broadcaster with meaningful scale, significant operating leverage, and a compelling portfolio of high quality assets. In particular, the combined company will consist of the following broadcast assets, giving effect to all other pending acquisitions by both companies and prior to any divestitures: 142 full-power television stations serving 92 markets, the third largest portfolio of stations and markets in the country. A high-quality station portfolio that reaches 24 percent of U.S. television households, ranging from large markets such as Tampa-Sarasota, Cleveland, and Charlotte, to some of the smallest markets like Ottumwa, Fairbanks, Presque Isle and North Platte. 62 television stations ranked first in all-day Nielsen ratings in their local markets, which is the highest number of top-ranked television stations owned by any broadcaster. 92 percent of markets with the #1 or the #2 Nielsen rated local television station. Nearly 400 separate program streams including approximately 165 affiliates of ABC, NBC, CBS, and Fox, and over 100 affiliates of CW, MyNetwork, and MeTV. In addition to high quality television stations, Gray will acquire several additional Raycom businesses that will result in a more diversified media company. These businesses include: Raycom Sports, a marketing, production and events management and distribution company. Tupelo Raycom, a sports and entertainment production company. RTM Productions, an automotive programming production and marketing solutions company. Broadview Media, a post-production/digital signage company. Raycom has initiated processes to sell or spin off Community Newspaper Holdings, Inc. (“CNHI”), which owns community newspapers and information products including over 100 titles located in 23 states, as well as PureCars, a digital ad platform for the automotive industry. As a result, Gray will not acquire either CNHI or PureCars as part of this transaction. Excluding CNHI and PureCars, the combined net revenue of both companies on a blended 2016/2017 basis would total approximately $2 billion. Transaction Summary Gray expects that the Raycom transaction will be substantially accretive on a free cash flow per share basis. Under the terms of the merger agreement between the parties, Gray will acquire Raycom for $3.647 billion in total proceeds, consisting of $3.547 billion in enterprise value and $100 million of Raycom cash. The consideration will consist of $2.85 billion in cash, $650 million in a new series of preferred stock, and 11.5 million shares of Gray common stock. Wells Fargo has underwritten the debt financing portion of the transaction in the amount of $2.525 billion. Gray’s existing Term Loan B and Senior Unsecured Notes will remain in place. Expected strong free cash flow generation through the closing of all pending transactions and throughout 2018 should allow Gray to deleverage its capital structure following the closing. Gray anticipates that, assuming a year-end 2018 closing, its total leverage ratio, net of all cash, would approximate 5.0 times trailing eight-quarter operating cash flow, including estimated synergies. Including expected synergies and excluding CNHI and PureCars, the transaction purchase price represents a multiple of approximately 7.5 times a blended average of Raycom’s anticipated 2018/2019 operating cash flow and 7.8 times a blended average of Raycom’s anticipated 2017/2018 operating cash flow. This multiple includes approximately $80 million in identified contract, insourcing, and other efficiency synergies during the first full calendar year following the closing. The multiple also includes the anticipated net present value of the deferred tax asset resulting from Raycom’s net operating losses. The transaction has been approved unanimously by the Boards of Directors of both Gray and Raycom. The transaction has also been approved by the requisite vote of the Raycom shareholders. No Gray shareholder vote will be required. Gray shareholders will retain 89 percent of the economic ownership of the Company following the closing. Clear Regulatory Path to Prompt Closing As noted, Gray and Raycom have highly complementary portfolios, and, as such, their combination should create only minimal regulatory issues. To facilitate prompt approvals and therefore the transaction closing, Gray has elected to divest television stations in each of the nine overlap markets rather than seek regulatory approvals of potentially permissive combinations in certain markets. Specifically, Gray intends to retain and divest stations in the overlap markets as follows: Market (DMA Rank and Name) | Retained Full-Power Stations (November 2017 All-Day Rank) | Divested Full-Power Stations (November 2017 All-Day Rank) 61 Knoxville | Gray WVLT (#2 CBS) | Raycom WTNZ (#5 Fox) 78 Toledo } Gray WTVG (#2 ABC) | Raycom WTOL (#1 CBS) 86 Waco | Gray KWTX (#1 CBS) | Raycom KXXV (#3 ABC) 108 Tallahassee | Gray WCTV (#1 CBS) | Raycom WTXL (#2 ABC) 112 Augusta | Gray WRDW (#2 CBS) | Raycom WFXG (#3 Fox) 144 Odessa | Gray KOSA (#1 CBS) | Raycom KWES (#2 NBC) 151 Panama City | Gray WJHG (#1 ABC) | Raycom WPGX (#4 Fox) 154 Albany | Raycom WALB (#1 ABC) | Gray WSWG (#3 CBS) 173 Dothan | Gray WTVY (#1 CBS) | Raycom WDFX (#3 Fox) Today, Wells Fargo Securities will begin a formal process to market the divestiture stations to qualified third parties. The divestitures may take the form of cash sales, swaps involving other television stations, or a combination of cash and swaps. Interested parties should contact Wells Fargo Securities directly and should not contact Gray or Raycom about the divestiture opportunities. The planned divestiture stations collectively represent less than 4 percent of the operating cash flow of the combined company (excluding CNHI and PureCars). Based on the foregoing divestiture plan and the lack of other anticipated material regulatory concerns that might arise from the combination, the parties expect to close their transaction following receipt of regulatory and other approvals in the fourth quarter of 2018. CEO Comments on Transformative Transaction “Today we announce the transformation of Gray Television into a true leader in the broadcast television industry,” said Hilton H. Howell, Jr., Gray’s Chairman, President and CEO. “Combining our company with the excellent Raycom stations and the superb Raycom employees will create a powerhouse local media operation. Together, this new portfolio of leading local media outlets will excel at what they do best, which is to provide the local news that local communities trust, the entertainment and sports content that viewers crave, and the incredible reach that advertisers demand. Indeed, this is a transaction in which there can be no doubt that local community standards will be honored and embraced. We are excited to welcome the dedicated reporters, account executives, and technologists of Raycom to our growing corporate family. On behalf of the Board, our employees, and our investors, I convey our deepest gratitude to Jim Ryan and Kevin Latek for leading our efforts on this momentous, transformative transaction.” “We are thrilled to be joining Gray Television as we share the same core values of journalistic excellence and community service,” said Pat LaPlatney, Raycom Media’s President and CEO. “Together, we will be a stronger, more impactful force for our audiences, advertisers, and communities. I have tremendous respect for the way Hilton Howell and Gray Television have grown their portfolio with a focus on localism. I look forward to working alongside Hilton and the wonderfully talented people of Gray Television as the combined entities create an even greater opportunity for growth as a leader in the broadcast industry. I also want to extend a special thank you to Paul McTear, Becky Sheffield, Ellenann Yelverton and the entire Raycom team for their tireless efforts on this transaction.” The post The Small Radio Ramifications Of The Gray/Raycom Merger appeared first on RadioInsight. more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 10:21 AM
    From All Access: Light up your 4th of JULY programming and your phone lines this year with 140 CHARACTERS. The ENVISION syndicated offering is introducing a featured character - Four Fingers Freddy, "the … more
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    June 25th, 2018, 09:49 AM
    From All Access: KELLY MAC has exited BEASLEY MEDIA GROUP Urban AC WBAV (V1O1.9)/CHARLOTTE, NC. She held down the APD/MD position. MAC’s resume includes RADIO ONE Urban AC WTLC/INDIANAPOLIS, … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 09:49 AM
    From All Access: THE E.W. SCRIPPS COMPANY has found a buyer for its TULSA cluster, selling Country KVOO, Classic Country KXBL (BIG COUNTRY 99.5), News-Talk KFAQ-A, Top 40 KHTT (106.9 K-HITS), and Classic … more
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    June 25th, 2018, 09:49 AM
    From All Access: The NAB EDUCATION FOUNDATION has graduated the 2018 class in its Broadcast Leadership Training (BLT) program for senior level broadcast executives aspiring to advance as group executives or … more
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 09:49 AM
    From the FCC: Ex Parte Presentations And Post-Reply Comment Period Filing In Permit-But-Disclosure Proceedings Received on 6/13/2018 . https://www.fcc.gov/edoc/351910
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 09:49 AM
    From the FCC: Ex Parte Presentations And Post-Reply Comment Period Filing In Permit-But-Disclosure Proceedings Received on 6/14/2018 . https://www.fcc.gov/edoc/351912
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    June 25th, 2018, 09:49 AM
    From the FCC: FCC Boosts Funding For Rural Health Care Program Order Addresses Funding Shortfall Driven by Growing Demand for Telemedicine in Rural Areas . https://www.fcc.gov/edoc/351946
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    June 25th, 2018, 09:49 AM
    From the FCC: Broadcast Applications . https://www.fcc.gov/edoc/351889
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 09:49 AM
    From the FCC: Ex Parte Presentations And Post-Reply Comment Period Filing In Permit-But-Disclosure Proceedings Received on 6/12/2018 . https://www.fcc.gov/edoc/351909
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 09:49 AM
    From the FCC: Promoting Telehealth in Rural America Addresses the current funding shortfall in the Rural Health Care Program by raising the annual program budget cap to $571 million https://www.fcc.gov/edoc/351944
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    June 25th, 2018, 09:49 AM
    From the FCC: Broadcast Actions . https://www.fcc.gov/edoc/351888
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    June 25th, 2018, 09:49 AM
    From the FCC: Petitions For Reconsideration of Action In Proceeding . https://www.fcc.gov/edoc/351929
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  • Colorado Media Newsroom's Avatar
    June 25th, 2018, 09:17 AM
    From All Access: KENDRICK LAMAR led the pack with the most trophies at SUNDAY night's 2018 BET AWARDS in LOS ANGELES. LAMAR's victories included Best Male Hip-Hop Artist and Album of the Year … more
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    June 25th, 2018, 09:17 AM
    From All Access: The latest SIRIUSXM limited run channel will feature the DAVE MATTHEWS BAND. MATTHEWS and HOWARD STERN announced "DAVE MATTHEWS BAND RADIO"'s JULY 2nd debut on STERN's … more
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    June 25th, 2018, 09:17 AM
    From All Access: WARNER BROS./WAR's DAN + SHAY celebrated the release of their new, self-titled album with a performance on NBC-TV's "TODAY" show this morning (6/25). Watch the duo sing … more
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