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Cumulus Files For Chapter 11, Cumulus’ Debt Fight May Not Be Over
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Radio Ink - Radio's Premier Management and Marketing Magazine
Eric Rhoads - Chairman
Deborah Parenti - Publisher
Ed Ryan - Editor-in-Chief
Brida Connolly - Managing Editor
Adrian Zupp - Reporter
 
Radio Headlines For Thursday 11-30-2017
 
Cumulus has over 440 radio stations and thousands of employees. They will wake up this morning to read that their company has filed for Chapter 11 protection. So what should employees expect moving forward? Yes, you will still receive your paychecks. [read more]
 
 
The first big shoe has fallen. Cumulus has taken a serious step to try to restructure its $2 billion in debt by seeking protection in bankruptcy court. Since former CEO Lew Dickey was pushed out over two years ago, company executives have made it clear the debt was a major issue and they needed to get it under control. It's the first step to what may be a long process, because it appears not all lenders are on board. Here's what they've done. [read more]
 
First, the court has to approve any bankruptcy plan put in place before it becomes effective. Second, we are told by several financial experts that, while it's still early in this process, it appears there was no deal made with Cumulus' junior lenders, so there still could be a fight ahead. [read more]
 
The avalanche of firings continue for men who've been accused of using their power to act inappropriately toward women. Minnesota Public Radio and parent American Public Media have cut ties with former host of A Prarie Home Companion, Garrison Keillor. Both organizations are investigating a report of "inappropriate behavior" with someone he worked with. [read more]
 
 
More than $1 million was distributed to broadcasters in need by The broadcasters Foundation in 2017, a record amount. Chairman Dan Mason said what’s even more striking is that there are still broadcasters who need help. [read more]
 
John Garziglia - Radio(By John Garziglia) In the Radio Ink 20th-anniversary issue, the article “10 Legal Issues to Watch for in the Next 10 Years” speculated on the challenges radio might face through 2022. This article, five years later for Radio Ink’s 25th anniversary, tries to own up to the failures and misplaced clairvoyance of previous predictions, and naively attempts to again forecast the next 10 years. [read more]
 
Roy Williams - Radio(By Roy Williams) Words of bonding are expressed by characters in stories. Bonding and loyalty are triggered by the stories you share in your ads, videos, podcasts, and blog posts. Are the characters in your ads interesting and credible? Does the public love and trust them? [read more]
 
RCS
 
(By Laurie Kahn) With the many changes radio has seen over the last 25 years, one thing has remained constant: To be successful, you need to have the right people in place. While it may be getting more challenging to find, hire, engage, and retain the superstars you need, it is still doable with the right tools. [read more]
 
As has been widely reported for the past few weeks, ESPN has let go 150 employees. The sports network has been making cuts to try to keep up with declining revenue due to lost subscribers. It doesn't appear any cuts were made on the radio side. ESPN President John Skipper said the cuts were made in studio production, digital content, and technology. [read more]
 
iheartradioComcast and iHeartMedia have announced a partnership that will make iHeartRadio available on Xfinity X1, giving listeners access to more than 1,000 radio stations from across the country – directly on their TV – with custom artist radio stations, playlists, and podcasts. [read more]
 
 
 
iHeartMedia New York announced on Wednesday that Cara Hahn has been promoted to APD and Music Director for Z100 and Lite FM. Hahn joined iHeartMedia New York in 2014 where she most recently served as Programming Coordinator for the market. She will report to both Chris Conley, Program Director for 106.7 Lite FM, and Mark Medina, Program Director for Z100. [read more]
 
iHeartMedia Washington, DC, has named Jill Kempton PD for 97.1 WASH-FM (an 80s, 90s, and Today format). Kempton moves to DC, from WTLW in New York, where she was APD, Music Director, and Imaging Director. She spent her first eight years in radio at WBEB in Philadelphia. [read more]
 
The Radio Mercury Awards announced on Wednesday that Sean Bryan, Co-Chief Creative Officer at McCann NY, will be the 2018 Chief Judge for the 27th Annual Radio Mercury Awards Competition. Award categories will be announced in December, along with Call for Entry guidelines and deadlines. [read more]
 
RCS
 
ASCAP has revealed its top holiday songs for 2017. According to an ASCAP analysis of streaming and terrestrial radio data from Aug. 7, 2017 to Nov. 19, 2017, 1994’s “All I Want For Christmas Is You,” written by Walter Afanasieff and Mariah Carey, is the number one song of this holiday season. Here's a list of ASCAP's top 25 holiday songs from 2017. [read more]
 
The Elvis Duran Group’s 2017 Carney Awards, which honor Hollywood’s leading character actors for their outstanding achievements, will air on NBC Universal’s COZI TV Saturday at 9:00 p.m. It's the first time the Carney Awards will be broadcast on television. (Pictured left to right: Executive Producer Jim Katz, Elvis Duran, EDG CEO/Executive Producer David Katz) [read more]
 
Are you hearing things about your market? Let us investigate. Radio Ink Magazine is the only 25-year-old trade magazine in the radio industry. That's the result of a lot of trust over those years. Send all news tips in total confidence, and any other station news to Radio Ink Editor Ed Ryan at edryantheeditor@gmail.com [read more]
 
Thank you to John Rosso, President, Market Development, Triton Digital for dusting off this classic and sending it along to us. This is Rosso at SUNY Buffalo’s WBNY-FM rocking the Ian Hunter perm. He tells Radio Ink: "I am now over any self-esteem issues related to that hair style." Send your classic studio shot -- cart machines and all -- to edryantheeditor@gmail.com. [read more]
 
 
 
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