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February 14th, 1998
ARD CD PROJECT GOING STRONG
The ARD CD Project is moving along nicely and AllStarMag
recently published some info on their website and email list.
The CD Project is a way for ARD to fund our efforts while entertaining and informing
people interested in radio diversity. The first disc in the three-disc series is
slated for a May 5, 1998 release date and features music from artists such as Soul
Coughing, Ani DiFranco, Kristin Hersh, Nicole Blackman and Scanner, Walt Mink, Triplefastaction,
His Name Is Alive, Dead Hot Workshop, Thrush Hermit ... and others! Stay tuned for
further updates and exclusive online bonuses.
CHANCELLOR ANNOUNCES RECORD PROFITS
full story online at MyExcite
Fourth quarter after tax cash flow, the most important measure of the Company's
operating performance, rose 52.1% to $43.3 million compared to $28.5 million in the
fourth quarter of 1996. For the three months ended December 31, 1997, consolidated
net revenues increased 180.4% to $248.8 million from $88.7 million last year. Broadcast
cash flow was $117.3 million for the fourth quarter of 1997, a 187.3% increase over
$40.8 million in the corresponding period of 1996.
CAPSTAR AVOIDS COMMUNITY STATION
full story sent via email reprinted here
Apparently there was a close call down in Austin, Texas, and the area was almost
subjected to a community station! Luckily, Capstar stepped in with a whole lot of
money and took care of the situation. Read the story to find out how money saved
the day for corporate radio.
"The FCC gave the three competing applicants until the end of last month
to settle their differences. Otherwise, the license would be auctioned to the highest
bidder.
It took the savvy radio veteran Barger to broker the deal and find the white knight
to buy all of them out and get the station up and running.
The money man? Austin's Steve Hicks, head of Capstar Broadcasting Partners, which
owns more radio stations than any other company in America, and which just bought
KASE [country] and KVET-FM [country] and AM [talk/sports].
For $8.5 million from Hicks, Hill and Stephens gave up their claims on the frequency
to allow Barger to get the license, which he is subsequently selling to Hicks."
February 3rd, 1998
CAPSTAR TO ACQUIRE GIBBONS RADIO
full story online at PRNewswire
Capstar Broadcasting Partners, of Austin, Texas, the nation's largest owner of
radio stations, today announced that Capstar has agreed to acquire Jim Gibbons Radio
of Bethesda, MD.
The four radio stations to be acquired by Capstar are WFMD-AM and WFRE-FM, licensed
to Frederick, MD, and WFIR-AM and WPBR-FM, licensed to Roanoke, VA. The stations
will be managed by Capstar's regional operating company, Atlantic Star Communications,
Inc., a 62-station group based in New York.
Completion of the transaction, which is subject to FCC approval, is expected to occur
by the third quarter of 1998...
...Capstar currently owns and operates or has agreed to acquire 322 radio stations
in mid-sized markets across the country, making it the largest owner of radio stations
in the nation, based on station count, and one of the largest owners and operators
of radio stations in terms of revenue and cash flow.
CAPSTAR SELLS STATION TO CUMULUS
full story online at PRNewswire
Capstar Broadcasting Partners, of Austin, TX, the nation's largest owner and operator
of radio stations, today announced that it has agreed to sell its two radio stations
serving the Salisbury-Ocean City, MD, area to Cumulus Broadcasting, Inc. of Milwaukee,
WI. The two stations to be acquired are WOSC-FM, licensed to Bethany Beach, DE, and
WWFG-FM, licensed to Ocean City, MD. The sale marks Capstar's exit from the Salisbury-Ocean
City market.
Completion of the transaction, which is subject to FCC approval, is expected to occur
by the second quarter of 1998.
Cumulus will begin operating the stations on February 1, 1998, under a local marketing
agreement ("LMA"). The radio stations are currently managed by Capstar's
regional operating company, Atlantic Star Communications, Inc.
KANDU FIGHTS SALE TO JACOR
sent via email / originally from R&R Online
There hasn't been much coverage of this particular situation taking place
in the Minneapolis radio market... we'll see what we can dig up.
Rev. Devin Miller, President of the minority-owned communications firm, tells
R&R that if the FCC turns down its petition to deny Nationwide's sale to Jacor,
it may file for a court-imposed injunction to halt the deal. Miller says Nationwide
should sell its Minneapolis stations to a local owner -- preferably KANDU.
Nationwide and Jacor both have said FCC rules prevent the commission from weighing
whether a particular applicant for a license is "better" than another.
Miller says KANDU will file a supplement to its petition today that cites "discrepancies"
in Nationwide's response; namely, letters from minority entities endorsing the deal
that the reverend says are bogus.
Thursday, January 22nd, 1998
FCC REFORM EFFORTS?
According to the M Street Daily, the FCC's 1998 regulatory reform effort "will
focus on cutting out the red tape in applications and technical rules" and the
Commission will be dealing with three areas: "[1] streamlining application forms
and processes, [2] deregulation/streamlining of substantive non-technical rules (including
ownership rules not subject to a pending proceeding) and [3] deregulation/streamlining
of substantive technical rules."
That pretty much covers it, doesn't it?
NAB CONFERENCE IN APRIL
Guess who's coming to dinner?
At this year's National Association of Broadcasters (NAB) annual conference in Las
Vegas (April 5-9), the guests of honor include the FCC Commissioners with William
Kennard the featured speaker and all commissioners participating in panel discussions.
Sure, the regulators must understand the industry they regulate, but how close it
too close? Is impartiality retained? Especially when the top dog for the FCC used
to be one of the NAB's top legal guys?
MICROPOWER CONFERENCE IN APRIL
Planned to coincide with the NAB conference in Las Vegas (April 5-9), Free Radio
Berkeley wants to turn NAB on to microbroadcasting (NAB has been the principal catalyst
in the FCC's recent stepped-up persecution of "pirate radio"). According
to Inside Radio the NAB will be invited to an open forum for discussion but the NAB
has typically complained about microradio's "interference and comprised integrity
of the American broadcast system."
An East Coast conference is also in the works with Radio Mutiny as the host. Conferences
"are designed to attract people from places that don't have a ... community
station yet and to teach newcomers how to get up and running and meet the movement's
goal of having '1000 antennas radiate.' "
[more info will be posted as it comes in]
Wednesday, January 21st, 1998
FCC MAY LIMIT RADIO DEALS
full story online at USA Today
Regulators might try to slow the frenetic pace of mergers in the radio industry
amid concern that it's homogenizing the on-air landscape and presenting fewer opportunities
for minority entrepreneurs.
The Federal Communications Commission says it's thinking about tightening the limits
on radio station ownership, although doing so would be highly controversial...
...[Since passing the Telecom Act] the top 10 radio groups boosted their holdings
from 652 stations to 1,134. As prices soared, the portion owned by minorities, already
a scant 3.1%, fell to 2.8%...
While the flurry of deals far exceeds what Congress and the FCC anticipated, broadcasters
hail the reform. They say failing stations have been rescued as consolidating companies
achieve cost efficiencies and increase ad revenue.
But FCC Chairman William Kennard worries the deals have narrowed "the diversity
of voices." And Commerce Department Assistant Secretary Larry Irving has lamented
the loss of local touches: Broadcasters often slash costs by piping the same programs
into different markets.
Thursday, January 15th, 1998
NATIONAL PUBLIC RADIO WOOS PRI
full story online at Washington Business Journal
full story online at Orlando Business Journal
National Public Radio is proposing a merger with Public Radio International, which
distributes several of the programs heard on NPR's 595 member stations nationwide.
The boards of both District-based NPR and PRI, which is based in Minneapolis, recently
discussed the merger, officials said.
CAPSTAR BUYS MORE STATIONS
full story online at PRNewsWire
Capstar Broadcasting Partners, of Austin, Texas, the nation's largest owner of
radio stations, today announced that it has completed its acquisition of eight radio
stations in middle markets throughout New England from Knight Quality Stations, of
Boston, in a transaction valued at approximately $65 million.
Thursday, January 8, 1998
CBC SHAREHOLDERS APPROVE SALE
full story online at PRBusinessWire
Children's Broadcasting Corporation announced today that, at its Special Meeting
of Shareholders held yesterday, CBC shareholders voted to approve the sale of all
of the company's owned and operated radio stations to Global Broadcasting for approximately
$72.5 million in cash.
Christopher T. Dahl, Chairman and CEO of CBC, said that, "All requirements have
now been met and we look forward to closing the sale of the stations later this month."
JACOR AFTER KSD-FM
full story online at St. Louis Business Journal
Jacor Broadcasting Group Inc., which already owns four radio stations in St. Louis,
is looking to add KSD-FM to its inventory, according to industry sources.
KSD is owned by Boston-based American Radio Systems (ARS). ARS, however, is being
acquired by CBS Radio, owner of market leader KMOX-AM.
When CBS' purchase of ARS and its four St. Louis stations is complete, antitrust
laws require that CBS unload at least one of its properties here. KSD would probably
sell for between $12 million and $15 million, radio executives said.
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