WGY, Albany’s Chuck Custer to Retire Next Month. Albany radio personality Chuck Custer is retiring from iHeartMedia’s news/talk WGY-AM/FM on December 18. He currently hosts the morning drive program with Kelly Lynch. Before taking on that role in 2011, he served as news anchor on Don Weeks’ radio show. Custer also previously served as news director and program director for “News Radio 810 & 103.1.” Custer began his WGY career as evening news anchor in 1984. iHeartMedia Albany SVP and market manager John Cooper says, “For over 36 years, Chuck Custer has been synonymous with WGY. From his time as the leader of the award-winning WGY news department, his outstanding work with ‘Don Weeks in the Mornings’, his current co-host position with Kelly Lynch, and most importantly all the time he’s contributed to the people of the Capital District. Chuck has been the consummate professional. He’s a great broadcaster who will long be remembered.” Custer comments, “It was a lifelong dream to work at WGY, a powerful, influential station with a great history and heritage. I’ve been very fortunate to have such a great run here. I’ve worked with many tremendous and talented people, made many friends, and I have had an opportunity to take on many different challenges. For 36-plus-years, I’ve loved what I was doing and loved coming to work. Not many people can say that.”
Urban One Posts Third Quarter Net Revenue Decrease of 17.2%. Reporting results from the third quarter of 2020, Urban One, Inc says net revenue was approximately $91.9 million, a decrease of 17.2% from the same period in 2019. Broadcast and digital operating income was approximately $44.2 million, an increase of 1.3% from the same period in 2019. Urban One posted a net loss of approximately $12.8 million in Q3 of 2020 compared to a net income of approximately $5.4 million for the same period in 2019. Urban One CEO and president Alfred C. Liggins, III says, “During the third quarter, we saw continued sequential improvements in radio revenues: compared to Q2 2020, our radio segment revenues were up 54.3%. This improvement will continue into fourth quarter where same station radio division revenues are currently pacing down only mid-single digits compared to Q4 2019, including political advertising. Most remarkably, despite the ongoing impact of the COVID-19 pandemic, we were able to grow our Q3 2020 Adjusted EBITDA by 2.3% compared to Q3 2019 and by 61.3% compared to Q2 2020. This was largely driven by impressive performance in our TV, Digital and Reach Media divisions, all of which grew their Adjusted EBITDA by double digit percentages, or better, year-over-year. During this 2020 election cycle we have seen record-breaking political advertising revenues, in excess of $20 million across our entire platform of radio, digital and TV assets. I believe this reflects the increasing recognition of the importance of our audience, and the trusted platform we provide our clients to reach Black America… Our cash and liquidity position remains robust, with approximately $102.2 million of cash on hand at September 30. We received strong support from lenders for our recent bond exchange offer, which extends the maturity of both our secured notes and unsecured term loan, thereby giving the Company more flexibility to opportunistically access capital markets during the course of 2021. As part of the exchange agreement we will also reduce our outstanding debt by $25 million.”
KKAT, Salt Lake City Welcomes Dave Ramsey. Nationally syndicated talk radio superstar Dave Ramsey is joining the program schedule at Cumulus Media’s news/talk KKAT-AM, Salt Lake City in the 11:00 am to 1:00 pm slot, effective November 16. Cumulus Salt Lake City VP and market manager Patrick Reedy says, “Now, more than ever, Dave Ramsey’s insights and solutions for life and money bring clarity and straight talk to improving listeners’ financial lives. We are incredibly excited to welcome ‘The Dave Ramsey Show’ to the powerful 860AM lineup.” KKAT program director Chris Hoffman adds, “I’ve personally seen the power of Dave’s message change people’s lives. I can’t wait for our audience to experience it for themselves. I look forward to hearing their debt-free screams!”
Trump Refuses to Concede/Biden Transition Process, Georgia Recount/Senate Runoff Elections, COVID-29 Stats & Projections/Vaccine, Trump Media Ambitions, Veterans Day, and Tropical Storm Eta to Hit Florida Among Top News/Talk Stories Yesterday (11/11). The refusal on the part of Donald Trump and a fair number of Republican members of Congress to admit that Joe Biden won the election and the transition process to President-Elect Biden; the state of Georgia’s intent to do a hand recount of the ballots and the January runoff elections for Georgia’s two U.S. Senate seats; the fast-rising number of COVID-19 cases in the U.S. and abroad, projections for winter cases, and Pfizer’s statement its vaccine appears to be 90% effective; speculation about Donald Trump’s post-White House media ambitions; the Veterans Day holiday; and Tropical Storm Eta to hit Florida were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Jim Bohannon Goes Back to College. Pictured above on the campus of Piedmont College in Demorest, Georgia is Westwood One nationally syndicate talk show host Jim Bohannon (second from right) along with a group of students from the school’s student-run radio station “Z87.7.” Bohannon visited the school to conduct a radio seminar and speak to individual audio production classes about his industry experience as a talk show host. Bohannon also appeared as a guest on the station’s “1:35” program. Pictured with Bohannon are (from l-r) students Christopher Barker, Cameron Verona,Savannah Richards, Zach Swindell, Brett Loftis, Bohannon, and faculty member Dale Van Cantfort.
Harrison Podcast Presents a Special Salute to the Broadcasters Foundation of America. Taking a brief departure from its usual format of spotlighting a single individual, the Broadcasters Foundation of America is the subject of this week’s installment of the award-winning PodcastOne series, “The Michael Harrison Interview.” Harrison states, “This past week’s election and its aftermath continued the drama, intensity and anxiety that have made 2020 one of the most challenging years in modern history – and thus, one of the most difficult in the lifetimes of those of us born after World War II. The economic crisis sparked by COVID-19 has certainly added to the problems facing millions of people in our country who have either lost their jobs or their businesses and many more who are living with the uncertainty of whether they will still have their jobs and businesses in 2021.” Harrison continues, “All that aside, the radio industry has been hard hit by economic challenges for years leading up to 2020 – through good times and bad – due to a variety of reasons… some unavoidable and some, unfortunately, of its own making… none of which can be blamed on its day-to-day working people. Escalating cutbacks in the radio business are nothing new in the 21st century. The COVID-19 era has only made difficult matters even worse. Firings have primarily targeted the working folks in the trenches, including engineers, producers, programmers, news reporters, DJs, talk show hosts, salespeople, programmers, and mid-level managers.” Harrison adds, “It is important to note radio is always on the front lines of supporting charities and initiatives that rush to the aid of victims suffering from just about every hardship inflicted by disease, natural disasters, and economic calamity. But the only humanitarian organization that I know of that for decades has consistently been standing up for broadcasters facing personal disasters is the Broadcasters Foundation of America.” The Broadcasters Foundation of America derives most, if not all, of its revenues from individuals and companies, large and small, in the radio and television industries creating a process by which broadcasters can support broadcasters in their time of need. 2020 has proven to be a difficult year for the organization due to the economic impact of the corona virus upon its individual donors – and especially with COVID-19 forcing the cancellation of many of the organization’s annual fund-raising events. Harrison concludes, “Keeping in mind that a significant portion of this podcast’s audience are members of the professional broadcasting community, and to personally take a momentary break from the stresses of today’s political turmoil, this installment of our podcast will diverge from its usual path and be devoted to raising awareness of the Broadcasters Foundation of America.” The podcast’s guests this week are WPG, Atlantic City morning host Harry Hurley, Broadcasters Foundation of America president Jim Thompson and Foundation board member and longtime host of TV’s “Inside Edition,” Deborah Norville. To listen to the podcast in its entirety, please click here or click on the player box marked “The Michael Harrison Interview” located in the right-hand column on every page of Talkers.com.
Category: Front Page News, Industry News