Steven Baker

The Cumulus compensation ploy • May 2nd Cumulus had their annual shareholders meeting and they were not talking about what their angry investors did. • They approved one thing – their account firm. • When asked to re-elect their board of directors, a surprising and resounding outcome. • The company is still laying employees off and shrinking operations so when they asked shareholders to show a financial vote of confidence in them, an even greater surprise. • What’s really going on here – a questionable debt exchange deal, a second bankruptcy and a growing rift between investors and their top management. https://lnkd.in/gQRZYCWq

4

1 Comment

The latest on the "Succession"-like drama that is Paramount's deal process. -The Skydance consortium, which has been in talks to acquire Paramount, is prepared to walk away from its bid if it doesn't get a firm commitment from Shari Redstone, according to a person familiar with the matter. -Further uncertainty was thrown into the mix this week when PE firm Apollo and Sony Pictures sent a letter to Paramount's board expressing formal interest in buying the company for about $26B. -Redstone, the controlling shareholder, has been guiding the process. She's been partial to the offer that would keep Paramount a whole company following a sale -- unlikely in a scenario where PE is the acquirer, CNBC has reported. It's also unclear if the Sony-Apollo bid gives her the same premium as the Skydance offer. -The exclusive window for deal talks between Paramount and Skydance ends Friday, and won't be extended. More from me and Alex Sherman on CNBC about this roller coaster deal process:

35

1 Comment

What the FCC has Against Audacy • The unspoken damage the FCC is doing to Audacy. • Why other radio bankruptcies got the green light to emerge quicker. • How this delay jeopardizes the Soros plan to rebuild Audacy. • The delay’s effect on Audacy’s plan to sell, consolidate or shut down some stations. https://lnkd.in/eh8pVJnY

2

I am still reading up on the proposed FCC changes to LPTV and what that means to LP stations. Check out the article from Advanced Television Broadcasting Alliance on more details. What are your thoughts on these proposed changes?

4

3 Comments

Rich Greenfield, it's premature to call the Disney/Charter distribution deal a failure. Their "bundle" combines separate Disney products but falls woefully short of meeting consumer needs. I have yet to meet an NFL fan who only cares about the football games that air on ABC and ESPN. As compelling as the Disney programming may be, sports fans want to watch all games, irrespective of the network or streaming service. We should not view the adoption of the bespoke Disney bundle as the measure of the deal's success. The true measure is whether other legacy media companies adopt this deal template to create a comprehensive "full streaming bundle" distributed through pay-TV operators, including Disney+, Hulu, ESPN+, Max, Discovery+, Paramount+, Peacock, and Fox programming. I believe legacy companies' long-term success will largely hinge on their ability to roll out these "full streaming bundles" through pay-TV operators as quickly as possible. I explain why in the comments section of Rich's post. #Disney #WBD #Strategy

14

2 Comments

🏔 Paramount Global is officially merging with the production company Skydance. On its first investor call following news of the merger, the company unveiled a new logo as part of a presentation to investors. It reads more like the launch of a private equity firm than an entertainment company. The new logo uses Paramount’s legacy mountain motif and circle of stars, but replaces the media company’s script wordmark with a new serif version that gently arcs with a curved line underneath. It’s set in what appears to be the same font and arrangement as the Skydance logo. The traditional all-caps serif and thin strokes, when paired with its royal blue background, creates a wordmark resembling those in corporate consulting and investing, like McKinsey or Citadel, rather than other entertainment companies and streaming services, which largely use script or sans serif type. Read more: https://lnkd.in/gZVyBzRk

4

Too many rules spoil the plot? The recent withdrawal of the second draft of the Broadcasting Services (Regulation) Bill has sparked mixed reactions in the media industry. While some see it as a positive sign, many remain cautious. Key takeaways: ➡ Relief, but not celebration: The extension of the consultation period for the first draft is viewed as a temporary reprieve. However, concerns remain about the first draft's content evaluation provisions, potential for censorship, and lack of clear guidelines. ➡ Seeking clarity: Industry stakeholders are eager to understand the government's true intentions. Is this a genuine move to incorporate feedback, or simply a delay tactic before implementing stricter controls? ➡ Call for open dialogue: Stakeholders demand for a more transparent and inclusive approach to media regulation. ➡ Focus on differentiation: A significant part of the industry reiterates the need for distinct regulations for linear TV and OTT platforms, acknowledging their fundamentally different models. ➡ Uncertainty persists: As the industry awaits the revised draft, a sense of uncertainty continues. Questions linger about how effectively feedback will be addressed and the potential impact on independent media and content creation. Let's discuss! #BroadcastBill #MediaRegulation #ContentFreedom Meanwhile for a deeper dive you can read exchange4media's hot take on the subject. Link is in the comments section.

21

2 Comments

Audacy in the blast zone of deregulation bombshell • How anyone unhappy with George Soros owning a large share of Audacy can now block it or fatally delay it by filing one piece of paper. • If the FCC fails to act in favor of the pending waiver Soros needs, then what? • How Audacy is quickly losing control of a critical timeline out of bankruptcy. • The prognosis of a fresh start promised by Audacy to advertisers and employees in light of recent developments. https://lnkd.in/eFrPBP35

8

Cumulus Expense Cuts Coming • What cuts Cumulus had to promise to re-fi their debt. • What about selling existing assets? • The Cumulus employees most directly caught in the crosshairs of this deal. • How it affects executive pay. • The unusual timeframe of these promised cutbacks.

1

When Beasley will file for bankruptcy • Take out your calculator, based on the Cumulus and Audacy bankruptcies that proceeded Beasley, here’s what could extend their lifeline or abruptly throw them into bankruptcy sooner. • The efficacy of a potential reverse stock split that they are considering, • The one telltale move to watch for – when Beasley does this, no question they’re going down. • How long before Beasley initiates another round of deep layoffs like last week. • Why they are firing programming and content people above others. • My calculation of “B” date (so far, we’ve called 3 radio bankruptcies scarily on target).

2

3 Comments

As a #voiceover and #weather guy, I've been putting the two together in these audio updates for my Heads Up Weather page (New England area). I did this for a while during my radio weather days so might as well, right? If you're a weather geek like me, I have more posts, updates, and videos diving into more weather details on my Facebook page. https://lnkd.in/eVuNZBxP #weatherforecasting #meteorology #weatherforecast #forecasting

5

2024 was a tough year by anyone’s measure that included a challenging publishing landscape in the aftermath of iOS17, an industry reckoning with how to measure its audience, beloved podcast companies sunsetting, and massive layoffs from seemingly every company in podcasting. Even a bankruptcy for good measure. And yet… We’re still seeing a vibrant community that’s seeing more growth than most other mediums. There are still blockbuster deals seemingly every other month, we’re still seeing podcast adaptations to other mediums, and we’re still exploring all new kinds of business models – for better and worse (plus whatever your views on AI in podcasting are). And true or not – there are a LOT of people who think our industry was THE story in the 2024 US elections. Brought to you by The Podglomerate, Podcast Perspectives is the Signal Award-winning show about the latest news in the podcast industry, and the people behind it. So far, we’ve had 46 industry leaders on the show to discuss the trends they’re seeing in podcasting. In this special episode, we tapped 18 of them to reflect on this past year and share how they’re feeling about the industry right now — how they feel about 2024 in hindsight, what innovations they’re excited about, and what makes them optimistic about 2025. We’re also sharing plenty of advice for creators and new podcasters. You can read, watch, or listen to these thoughts here: https://lnkd.in/eu3Fd2f7 Thank you to all of the guests in this episode who took the time to contribute. What do you think of podcasting's past year and next? Share your thoughts in the comments. Guests include: – Chris Peterson of DWNLOAD Media – Fatima Zaidi of Quill Inc and CoHost – Bradley Davis of Podchaser – Amber Smith of iHeartMedia – Eric Barnett of Supporting Cast – Brady Sadler of Double Elvis Productions – Michele C. of The Podcast Academy – Jessica Cordova Kramer (she/her) of Lemonada Media – Matt Shapo of the IAB – Ross Adams of Acast – Will Pearson of iHeartMedia – Dusty Weis of Podcamp Media – Lisa Laporte of TWiT.tv – Odile Beniflah of Ausha 🚀 – Chris Colbert of DCP Entertainment – Harry Morton of Lower Street – Bryan Barletta of Sounds Profitable – Molly Barton of Realm – Sharon Taylor of Triton Digital

92

15 Comments

Stopping Election Rigging: The Game Plan Revealed! Join us in this insightful discussion on the crucial efforts to prevent election rigging in pivotal states. Our speakers delve into recent actions taken to ensure fair voting, assessing key statistics and political strategies. Stay informed and empowered as we analyze the integrity of our democratic process! #ElectionIntegrity #VoterFraud #FairElections #VotingRights #PoliticalDiscussion #DemocracyInAction #NorthCarolinaVotes #RiggingPrevention #CivicEngagement #Election2024

1

Audio is always underestimated. But a new study by Oxford Road shows Audio advertising—whether through podcasts, streaming, or radio—delivers a hidden advantage for marketers. Their analysis, which shows audio drove an average of 18% of clients’ branded search volume, provides valuable insight into the impact of audio on consumer behavior. In an ecosystem dominated by bottom-funnel search and social marketing, a dominance that can stymie growth, audio fills a critical gap. https://lnkd.in/gJuZixV2

13

Great read on audio products originating from China "Chi-Fi" as its referred to in many circles. I like the way Tom Gibbs explains his foray into products originating from China, and the positive experiences they created for him. From my perspective, I've heard products manufactured from all over the world. Big companies, small companies, hand-made vs highly automated, etc. If an audio component does the job you need it to do, looks cool, and is priced so you can afford it, that should be the only bearing on its quality. The actual enjoyment of listening has nothing to do with where a component comes from.

3