Entercom’s Spinoff Strategy

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The Future of Cable News

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            Entercom’s Spinoff Strategy

            iHeart Rumors

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            Lew Dickey’s Investment Plan

            The Noose Tightens on iHeart

            Westwood One’s Potential Buyer

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iHeart Rumors

Don’t believe all the rumors you’ve been reading about the future of iHeart.

Just some of them.

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Cumulus Swaps

Cumulus is in no position to be writing checks to acquire the stations they badly need to generate more revenue in major markets.

But they can still swap and, as you’ll see, the possibilities affect a lot of people.

  • Two dazzling markets that Cumulus is eying.
  • The seller who holds the key to swapping.
  • How many markets would be involved.
  • And, the breathtaking assets that Cumulus would have to give up to make this proposition work.
  • The buyer who reportedly could be willing to swap with Cumulus on the eve of bankruptcy.
  • What Cumulus could give up.

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Revealed – Lew Dickey’s Investment Plan

Lew Dickey is armed with a $200 million blank check and a reported ability to raise $1.5 billion to build a new Modern Media company around radio assets.

But why would he want to be a little player, arriving too late to give himself a chance?

Instead, based on loose lips from people close to Dickey, he’s planning to do something that if he actually follows through could be very viable.

  • The strategy that prevents his new company from making the mistakes Cumulus made.
  • A sampling of the assets Lew could buy.
  • Where Lew would NOT buy.
  • How he might partner with his former company, Cumulus.
  • Any other assets but radio?
  • What about brother Fredo – does he have a future at Modern Media.

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The Noose Tightens on iHeart

By now everyone knows that iHeart is in big trouble – mostly from financial missteps but not limited to that.

Now, stunning revelations on how tight things are getting previously withheld from public view.

  • For example, what percentage of lenders has agreed to their debt exchange refinancing effort?
  • Which lender stood up to Bob Pittman’s playing the bankruptcy card and the ballsy thing they did.
  • The audacity of one lender to counter Pittman’s bankruptcy threat with this ploy.
  • The real likelihood that iHeart defaults into bankruptcy according to Wall Street investors – not what iHeart is threatening.
  • Why is iHeart spending like a drunken sailor when expenses are in record territory?
  • Why layoffs are being conducted even as Pittman commits hundreds of millions elsewhere – here are some examples.
  • How much cash does iHeart have on hand and is it an issue going forward.
  • And most importantly – what we know to date on an upcoming iHeart scandal that can totally rock the company.

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Westwood One

Cumulus originally spent $260 million to buy Westwood One and with that acquisition buried itself in debt.

But does Cumulus really need Westwood One now?

  • Who is the “surprise buyer” who could make Mary Berner a very nice offer.
  • What’s wrong with Westwood One?
  • Why Westwood One would be better off in the hands of a new owner.
  • The two radio groups that need Westwood One more than Cumulus.
  • What’s the scenario under which Westwood takes on this investment partner.

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CBS PDs

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Manchester

Terror has come to the entertainment industry.

Today’s Millennial generation and the ones who came after – 13 year olds among others – are among the most anxiety ridden of all.

When concert venues become the target, it really hits home – our home in the music and broadcasting industry.

Go to Twitter for the latest, not most radio stations.

Hit music stations had this one chance to help heal the pain for their young music loving audiences but no one was home.

Voice tracking or jocks so stuck in formatics that they didn’t realize that when your P1 audience is rocked to its bones, the news story and conversation that follows is precisely the “hit record” you must play over and over again.

Open the mics, let the audience vent.

If not, go to Twitter and social media because they do.

Even all-news stations were falling asleep.

Why didn’t they just plug into BBC Radio because they still know how to cover news?

Beyond the missed opportunities, the bombing as Ariana Grande’s concert was wrapping up signifies some challenges to the live venue business, one of the last aspects of music entertainment to remain robust.

iHeart is the leader in concerts and now they have to be even more aware of safety at their events.

Things won’t be the same for their audience or their parents after last night.

If you’re a parent, the news of this latest act of terrorism is scary.

The idea of being at risk at a musical event may have its short-term disadvantages to concert promoters from now on, but Americans and humans in general find ways to go on with their lives and confront their fears.  They stand up to terror.  That is our wish for these young people across the sea and to empathizers across the street.

Media in the post 9/11 world will have to adapt.

Social media is the lifeline in good times and times of crisis.

Radio, television and the music industry will have to become a greater part of the conversation to remain relevant.  They can’t just act like it’s business as usual when the entire world is in pursuit of news, conversation and connection.

The concert business may dip.

Fans may be more reluctant to attend live events especially from a generation that suffers from more anxiety than any other.

Radio will have to wake up, turn off the computer in the closet and become a kind of audio Twitter reflecting a real concern and sensitivity for their audience.

I scanned the dial in Philly last night after the Manchester explosion and no hit music station was doing anything other than what they would do on any other night.

I get it.

Budget cuts, canned talent.

But last night was not like any other night and for those of us who know the real potential of radio know that it was a missed opportunity to show our P1s that we indeed know the difference between social media and corporate radio.

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Cumulus Hostile Takeover

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            Entercom’s Cratering Market Value

            iHeart Raises

            The Future of Power 106 & Emmis

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SiriusXM in Trouble

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            The Future of Power 106 & Emmis

            iHeart Trying to Force Bankruptcy

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The Cumulus Free Fall

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            iHeart Trying to Force Bankruptcy

            The Elvis Duran Revenge RIFs

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The Latest on CBS Radio RIFs

What are “don’t ask/don’t tell” firings?

How CBS Radio plans to dispense with the remaining RIFs under the radar.

Unexpected layoffs breakout.

The iconic CBS station that will wind up cutting a whopping $750,000 in expenses in this round of cost cutting alone.

Are they done yet? 

That’s just the CBS layoffs, the actual dollar number of Entercom RIFs planned once the merger is complete.

Read the full article now.

Cumulus Survival Chances

  • The role of Bob Walker now
  • How secure is Mike McVay after yesterday?
  • Why Westwood One may be the undoing of Cumulus.
  • How Cumulus is generating more debt per quarter than ad revenue.
  • How long does Mary Berner get to turn around Cumulus

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Cumulus Predictions

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Entercom’s Cratering Market Value

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            The Future of Power 106 & Emmis

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            iHeart's New Talent Policy

            Trouble Ahead for CBS/Entercom

            Sale of iHeart Markets

            The Elvis Duran Revenge RIFs

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Massive iHeart Raises

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            Sale of iHeart Markets

            The Elvis Duran Revenge RIFs

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The Future of Power 106 & Emmis

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            iHeart's New Talent Policy

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            Sale of iHeart Markets

            The Elvis Duran Revenge RIFs

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iHeart Trying to Force Bankruptcy

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            Ryan Seacrest Endangering iHeart

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iHeart’s New Talent Policy

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Entercom

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            The Elvis Duran Revenge RIFs

            Ryan Seacrest

            Elvis Duran

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            CBS Radio Cutbacks Begin

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Sale of iHeart Markets

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The Elvis Duran Revenge RIFs

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Ryan Seacrest

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            The Cumulus 23-Cent Stock

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