Sports Radio News
Learfield/IMG Refutes WSJ Story About Financial Trouble
“Learfield/IMG is the biggest name in media rights for college athletics. The company represents nearly 200 schools.”
Learfield/IMG appears to be preparing for a fall without college football and is making sure it is legally protected. The Wall Street Journal reports that the broadcast company has retained the King & Spalding law firm to advise it on renegotiating its multimedia rights contracts with schools and debt.
A college football season is very much in doubt for 2020. Learfield had already begun asking schools to renegotiate their rights deals, including eliminating rights fees and delaying payments.
The Journal cites “sources familiar with the matter” in its reporting. Learfield/IMG is refuting parts of the story according to Sports Business Journal. Learfield/IMG says it is not renegotiating debt. The company also says that it is not obligated “to make the guaranteed annual payments to its school clients” as the WSJ suggests. Some schools have already agreed to renegotiated deals.
Learfield/IMG is the biggest name in media rights for college athletics. The company represents nearly 200 schools.
The company’s financial struggles were highlighted in the story as well. Investors don’t seem to have faith Learfield/IMG will be able to payback the loans it has taken out to stay afloat during the Covid-19 Pandemic. The first-lien loan of $475 million is trading at 72 cents on the dollar. A second loan of $75 million is trading at 48 cents on the dollar.
Sports Radio News
Chase McCabe Named Director of Operations & Sports Programming at Cromwell
“Our owner, Bud Walters, opened the door for me almost 12 years ago as an intern and I’m honored to continue to be a key member of the Nashville leadership team.”
Congratulations are in order for Chase McCabe. He is adding a new title to his already full plate at Cromwell Media in Nashville. He has been promoted to Director of Operations & Sports Programming at the company.
“I’m very fortunate to have been to be able to grow into this opportunity under one roof,” McCabe said in a press release. “Our owner, Bud Walters, opened the door for me almost 12 years ago as an intern and I’m honored to continue to be a key member of the Nashville leadership team. I am forever grateful, but none of this could have happened without the great group of people we have here at Cromwell Media.”
McCabe has spent his whole career with 102.5 The Game and its sister station, now called 94.9 The Fan. He was named Program Director and Brand Manager of the stations in January of last year. He has maintained an on-air presence as well. He hosts Chase & Michelle weekdays at 9 AM on The Game.
In his new role, Chase McCabe becomes the number two man in Cromwell’s Nashville building. Shawn Fort was recently named the cluster’s general manager.
“Chase and I have developed a great working relationship in the two and half years since I’ve joined Cromwell Media,” Fort said. “We share similar visions on how to create compelling sports programming all while driving revenue growth. I’m excited to have Chase as my right-hand man as we move forward together with this new chapter of leadership at Cromwell Media Nashville.”
Sports Radio News
Mark Schlereth: People Outside of Denver Aren’t Paying Attention to NBA Finals
“There was not one group of people – they’re all in there together – that was paying attention to the NBA Finals.”
The Denver Nuggets took to the National Basketball Association’s largest stage on Thursday night as they defeated the Miami Heat for the organization’s first-ever NBA Finals victory. Early reports reveal that the game had a 2.21 demographic rating between people ages 18-49, attracting a total of 7.62 million viewers on ABC. The figure is considerably lower than the audience for Game 1 between the Boston Celtics and Golden State Warriors last year – which averaged 11.9 million figures across ABC and ESPN2. Ratings for the alternate NBA in Stephen A’s World broadcast Thursday night on ESPN2 have not yet been released by Nielsen Media Research.
Sports fans in the Denver market have felt as if the play of the Nuggets was largely being neglected by the national media throughout these playoffs. Now that the team is the last one standing in the Western Conference, there is no one else to focus on and their play is beginning to be realized by basketball fans throughout the country. It is a narrative that Denver Sports 104.3 The Fan’s Mark Schlereth and Mike Evans felt was especially obvious by watching the press conferences after the game. The duo was able to deduce as such through the questions posed to Nuggets players and head coach Michael Malone by members of the media cohort.
“The national media – it’s like, ‘Oh, wow. We’re just kind of becoming aware of how these guys play,’ and they keep asking the Nuggets about their unselfishness and how everybody is willing to share the ball,” Evans said. “Nikola Jokić [is] being asked about not taking a lot of shots, and they’re all just kind of shrugging their shoulders like, ‘Yeah, this is who we are. We’ve been doing this for a long time.’
Schlereth was curious to find out the ratings from the game last night because he watched the game from a sports bar in Chicago. He is away from Denver, Colo. to help his son’s family move there for the summer and surmises there were about 50 people in the bar with him. What he noticed was that their interest was fixated elsewhere.
“I’m the only person that was watching the Nuggets,” Schlereth said. “There was not one group of people – they’re all in there together – that was paying attention to the NBA Finals.”
“Their loss,” Evans pithily replied.
Denver ranks 19th on Nielsen Media Research’s metropolitan market size list, but the Nuggets have been a contending team for the last five seasons. Most media analysts expect diminished ratings for the NBA Finals this year because of the lack of a storied franchise, even with the Miami Heat as the team’s opponent.
Sports Radio News
Nielsen Releases List of Markets Where Most People Use AM Radio
“In a recent survey, Nielsen Media Research found that AM radio still reaches over 82.3 million Americans on a monthly basis”
Amid concerns regarding the future of AM radio, Nielsen Media Research has unveiled a list of 141 markets where at least 20% of consumers regularly listen to programming on the medium. The list is reflective of the percentage of monthly total radio listening being funneled to AM as opposed to total radio listening as a whole. The top three markets are all in the Great Lakes region, and Westwood One has found large proportions of these listeners are derived from the upper Midwest.
Buffalo-Niagara Falls leads the list with 56% of its audience tuning into AM radio in a month. It is a figure that makes sense based on the variety of AM stations, including leading news talk outlet WBEN and leading sports outlet WGR. The city of Chicago is ranked second, complete with 670 The Score, WGN and WLS. Nearby Milwaukee, Wis. ranks third on the list, another city with various AM stations such as WTMJ and WISN.
In a recent survey, Nielsen Media Research found that AM radio still reaches over 82.3 million Americans on a monthly basis – a measurement that equates to one-third of AM/FM radio listeners as a whole. Fifty-seven percent of the audience listens to stations in the news and/or talk format, utilizing the public service the outlets provide to learn of breaking news and other concerns.
There is a wide variety in market size represented throughout the list, but a trend of markets with undulating topographies tends to have larger shares of AM listeners because of the challenges the landscape presents to FM signals.
The full list compiled by Nielsen Media Research can be found below:
|Metro market rank||Market name||Percentage of radio audience that listens to AM radio|
|59||Buffalo-Niagara Falls, NY||56%|
|3||Chicago, IL [PPM]||48%|
|43||Milwaukee-Racine, WI [PPM]||48%|
|253||Grand Forks, ND-MN||45%|
|39||San Jose, CA [PPM]||43%|
|33||Cincinnati, OH [PPM]||42%|
|11||Seattle-Tacoma, WA [PPM]||42%|
|187||St. Cloud, MN||41%|
|75||Omaha-Council Bluffs, NE-IA||39%|
|4||San Francisco, CA [PPM]||39%|
|244||Sioux City, IA||38%|
|25||San Antonio, TX [PPM]||38%|
|7||Atlanta, GA [PPM]||38%|
|176||Wausau-Stevens Pt (Centrl WI), WI||36%|
|114||Johnson City-Kingspt-Brstl, TN-VA||36%|
|27||Salt Lake City-Ogden-Provo [PPM]||36%|
|202||Cedar Rapids, IA||35%|
|34||Kansas City, KS-MO [PPM]||35%|
|71||Des Moines, IA||34%|
|73||Metro Fairfield County, CT||33%|
|231||Waterloo-Cedar Falls, IA||32%|
|13||Phoenix, AZ [PPM]||32%|
|12||Miami-Ft Lauderdale-Hollywood [PPM]||32%|
|9||Philadelphia, PA [PPM]||32%|
|28||Sacramento, CA [PPM]||32%|
|15||Minneapolis-St. Paul, MN [PPM]||31%|
|2||Los Angeles, CA [PPM]||31%|
|5||Dallas-Ft. Worth, TX [PPM]||31%|
|68||Grand Rapids, MI||31%|
|223||Eau Claire, WI||30%|
|20||Nassau-Suffolk (Long Island) [PPM]||30%|
|14||Detroit, MI [PPM]||29%|
|30||Orlando, FL [PPM]||29%|
|10||Boston, MA [PPM]||29%|
|189||Bryan-College Station, TX||29%|
|18||Denver-Boulder, CO [PPM]||28%|
|41||Hudson Valley, NY||28%|
|17||Tampa-St Petersburg-Clearwater [PPM]||28%|
|116||Ft. Wayne, IN||27%|
|35||Cleveland, OH [PPM]||27%|
|22||Portland, OR [PPM]||27%|
|183||Green Bay, WI||27%|
|6||Houston-Galveston, TX [PPM]||26%|
|54||Hartford-New Britain-Middletown [PPM]||26%|
|175||Sioux Falls, SD||25%|
|180||Lima-Van Wert, OH||25%|
|1||New York, NY [PPM]||25%|
|119||Corpus Christi, TX||25%|
|237||Grand Island-Kearney-Hastngs, NE||25%|
|51||Memphis, TN [PPM]||25%|
|151||Ann Arbor, MI||24%|
|208||Las Cruces-Deming, NM||24%|
|178||Traverse City-Petoskey, MI||24%|
|87||Colorado Springs, CO||24%|
|126||New Haven, CT||22%|
|79||Wilkes Barre-Scranton, PA||22%|
|29||Austin, TX [PPM]||22%|
|24||St. Louis, MO [PPM]||22%|
|23||Baltimore, MD [PPM]||22%|
|77||Baton Rouge, LA||21%|
|205||Santa Barbara, CA||21%|
|50||New Orleans, LA||20%|
|19||San Diego, CA [PPM]||20%|
|32||Las Vegas, NV [PPM]||20%|
|37||Raleigh-Durham, NC [PPM]||20%|