Connoisseur Media CEO Jeff Warshaw made headlines a couple of days ago when a reported offer to buy Cumulus Media surfaced.
Warshaw reportedly floated a proposal to purchase the company for between $300 and $340 million. Radio Ink provided a statement made by Cumulus regarding the offer they have on the table.
“Cumulus Media confirmed receipt of a letter with respect to an unsolicited, non-binding, highly conditional indication of interest. Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Cumulus Board of Directors is reviewing the letter,” the statement said.
Cumulus saw its stock price jump about 40% following the Reuters report. The reported Warshaw bid is for $15 to $17 per share. The stock price had been treading ahead in the $10-$11 range for the past year.
Furthermore, the report also stated that Warshaw might be keen to spend more for the company once he looks closer at the books. Radio Ink also spoke to financial experts, who said that Cumulus has two options.
“The Cumulus Board of Directors could ignore the offer and continue to operate as is, or they could engage with Warshaw and allow a possible sale move to the next step,” Radio Ink wrote.
“Everyone we spoke to believes it’s prudent for the shareholders of the company that the Board at least take a look at this offer or justify why it did not engage.”
Cumulus’ Board of Directors is made up of:
Andy Hobson (Innovatus Capital)
David Baum (former investment banker)
Mathew Blank (former CEO of Showtime Networks)
Tom Castro (Founder and CEO of El Dorado Capital)
Joan Gillman (former cable executive)
Brian Kushner (FTI Consulting)
Mary Berner (CEO of Cumulus)
Joe Pagliarulo: I Don’t Know What We’re Doing If We Can’t Protect Children
Joe ‘Pags’ Pagliarulo made strong statements Tuesday regarding a mass school shooting that left at least 21 people dead in Uvalde, Texas.
Texas-based syndicated radio host Joe ‘Pags’ Pagliarulo made strong statements Tuesday regarding a mass school shooting that left at least 21 people dead in Uvalde, Texas. Barret News Media transcribed some of those comments from Pags’ Twitch broadcast, which took place hours after the shooting.
Pagliarulo’s show originates from iHeartMedia’s 1200 News Radio WOAI. The studios are located approximately 83 miles away from where the shooting took place. Pags told his audience that his thoughts and prayers are with the victims.
“If we can’t protect our children, I don’t know what we’re doing as a society,” Pags said. “I think it’s multiple folds of what’s wrong here. Those who want to knee-jerk react and say the school wasn’t secure enough; I think that you’re knee-jerk reacting. Those who are knee-jerk reacting and saying we need to repeal the Second Amendment, that’s stupid.”
Pags stressed that what the country should be focusing on is the fact the families of 18 children will never see them again.
“It is simply unimaginable to ever fathom not having your child again,” he said. “We assume that evil in our society will not get to our kids, that we will see them again after the school day. These children will never come home.”
According to Fox News, Texas Gov Greg Abbott identified the suspect as Salvador Ramos, a Uvalde resident who is also dead and acted alone. Abbott said he had a handgun and possibly a rifle when he opened fire at Robb Elementary School.
“I am telling you, as a father of children, this hits home,” Pags said. “You have to see where the breakdowns are in our society that allow for things like this to happen.”
KMOX Makes Changes to Its Weekday Lineup
Beginning May 31, the station will grow its morning show “Total Information AM” to 10:00 a.m. CT, strengthened by co-anchors Carol Daniel, who returns to the newsroom, and Megan Lynch, investigative reporter.
Audacy has announced a revamped weekday lineup for News Radio 1120 AM and 98.7 FM KMOX. Beginning May 31, the station will grow its morning show “Total Information AM” to 10:00 a.m. CT, strengthened by co-anchors Carol Daniel, who returns to the newsroom, and Megan Lynch, investigative reporter.
Joining Daniel and Lynch will be Debbie Monterrey and Tom Ackerman; they will deliver the news, traffic, weather, analysis, in-depth interviews, and open conversation.
“This series of updates underscores our overarching commitment to delivering news and balanced talk shows to the people of St. Louis, while accentuating the strength of our top-level hosts,” Becky Domyan, Senior Vice President and Market Manager, Audacy St. Louis, said in a statement obtained by Barrett News Media.
“From our award-winning morning show to our unrivaled coverage of the Cardinals, we want to elevate the conversation.”
Also, the station will launch a new midday show after the retirement of longtime on-air host Charlie Brennan. “The Show” will team hosts Amy Marxkors, Kevin Wheeler, and Chris Rongey and air weekdays from 10:00 a.m. to 2:00 p.m. CT, effective May 31.
NPR Promotes Edith Chapin, Terence Samuel to New Roles
NPR is announcing a couple of promotions within the company as Edith Chapin and Terence Samuel will be taking over new positions.
NPR is announcing a couple of promotions within the company. Edith Chapin has led the newsgathering teams for the past seven years and will be promoted to VP & Executive Editor at Large.
Chapin will stay entrenched in the newsroom in her new role but will spend a large part of her time working with Chief Development Officer Leora Hanser, as she has for the past several months.
“I am eager to take on this role bridging the gap between the editorial world and fundraising, helping to share the story of NPR with potential donors and encouraging them to support our mission,” Chapin said, per Inside Radio.
The other promotion will see Terence Samuel promoted from Managing Editor to VP & Executive Editor. He will now permanently lead NPR’s newsgathering teams after filling this role for the last three months.
“This is one of the best, most innovative newsrooms that exists anywhere, and I am incredibly proud to have been part of it for the last five years,” said Samuel.
“I am honored beyond words to help lead it into the next phase. NPR News is uniquely positioned to tell the story of a country in the middle of a raucous argument about what it’s going to be next.”