Shareholders in Audacy have voted to approve a reverse stock in an effort to prevent the radio conglomerate from being delisted on the New York Stock Exchange.
The approval came last week at the company’s annual shareholders meeting.
Shares in Audacy have plummeted to near zero over the last year, closing at just $0.06 ahead of the Memorial Day weekend. The NYSE requires companies listed to have a minimum average closing price of $1.00 per share over 30 trading days. Audacy hasn’t traded for over a dollar per share since July of last year.
The company received an extension back in February after it was unsuccessful in trying to get back over the dollar per share threshold. Audacy needed shareholder approval to meet NYSE compliance requirements.
A reverse stock split is where an individual outstanding share of a company is converted into a fraction of a share.
Full details on Audacy’s reverse split are expected to be announced sometime this week.
Jordan Bondurant is a features reporter for Barrett Sports Media. He’s a multimedia journalist and communicator who works at the Virginia State Corporation Commission in Richmond. Jordan also contributes occasional coverage of the Washington Capitals for the blog NoVa Caps. His prior media experiences include working for the Richmond Times-Dispatch, the Danville Register & Bee, Virginia Lawyers Weekly, WRIC-TV 8News and Audacy Richmond. He can be reached by email at [email protected] or follow him on Twitter @J__Bondurant.
‘The Dan Patrick Show’ Criticizes Sound on ‘Thursday Night Football’
“You pay all this money for that game [and] you can’t hear that it sounds like crap.”
Thursday night’s matchup between the New York Giants and San Francisco 49ers ended up being a compelling game to watch throughout the first several quarters and was enhanced by the stellar images and presentation from Amazon Prime Video. The Thursday Night Football property recently garnered record-setting streaming numbers from its season premiere, according to a custom integrated streaming report by Nielsen Media Research.
Even so, there was critical feedback from many fans watching regarding the sonic experience of watching the game. Viewers complained that there was an inherent lack of crowd noise and field-level sound, making it more difficult to fully immerse themselves in the atmosphere.
“You pay all this money for that game [and] you can’t hear that it sounds like crap,” Patrick “Seton” O’Connor, an executive producer of The Dan Patrick Show, said on Friday. “There’s no atmosphere – you’ve got no crowd sound; the mics are all over the place. It’s terrible.”
Show host Dan Patrick concurred with this point, relaying that his wife walked by the television and thought something was amiss with the sound. When she asked Patrick what was happening, he replied that it was due to the presentation from Prime Video. Although most viewers ended up watching the game anyway, the inadequate soundscape detracted from the aura of the contest and dampened the viewing experience.
“I love [Kirk] Herbstreit [and] I love Al Michaels, but when I have the game on, do you ever have your stereo in your car and you have the bass and the treble set and somehow it gets reset – and everything’s reset to medium?,” Paul Pabst, an executive producer of The Dan Patrick Show, said. “You’re like, ‘Where’s the highs? Where’s the lows? It has that feeling.’”
The lack of dynamic contrast and aggregate timbre caused some viewers to connote that the broadcast sounds flat despite the stellar, highly-experienced commentary team. Improving on the sound and other customer feedback will be critical in incentivizing non-ardent fans to return to the property or try it altogether.
“We’ve created the atmosphere that is so good that you don’t even have to go to a game,” Patrick said. “With the sound of it, the TVs, [and] the quality… it’s almost a better experience sometimes when you’re sitting at home.”
In addition to watching the National Football League, Pabst frequently consumes college football on Saturdays, including the prime-time presentations. When he is viewing those games, he can feel the noise of the crowd permeating through the speakers and be part of the crowd.
“It’s thunderous,” Pabst said. “The crowd noise almost overwhelms [Chris] Fowler, sometimes in a good way, and it’s hard to tell what’s going on there.”
Finding games on Amazon Prime Video has been a difficult proposition for some users, evidenced by O’Connor describing how it took him 10 minutes to begin watching the Giants-49ers game last night. The game was broadcast regionally on FOX for those in the New York metropolitan area, but for O’Connor, he noticed that the network had the baseball contest between the New York Mets and Philadelphia Phillies on instead.
“I look and I’m like, ‘I swear there was a game tonight,’ and I see it’s in the first quarter.’ What the hell is going on?,” thought O’Connor. “Oh, that’s right. I forgot Amazon was a thing; it’s just not a TV destination all the time for me.”
Gregg Giannotti on Taylor Rooks: ‘Send in a 10’ to Get Players Talking
“I also thought, ‘Why don’t we use more attractive women in interrogation scenarios?'”
This week’s Thursday Night Football matchup between the New York Giants and San Francisco 49ers came off a record-setting week for Prime Video, according to an integrated streaming report by Nielsen Media Research. There were questions surrounding the impending contest off the field pertaining to injuries, and the TNF Tonight pregame show did its best to address pertinent information.
New York Giants running back Saquon Barkley headlined the team’s injury report after suffering an ankle injury last week, something the team publicly called a sprain. New information was divulged on Thursday night from Barkley himself after features reporter Taylor Rooks asked him about his injury. He then proceeded to reveal that he was dealing with a mild high ankle sprain, an impediment more serious than originally thought.
WFAN host Gregg Giannotti watched the entire pregame show and watched the desk discuss the state of New York football, including New York Jets quarterback Zach Wilson. The report from Rooks, a reputable source of information who formerly worked for SportsNet New York (SNY) occurred shortly thereafter. While she has a network of contacts and insider information about the league, Giannotti believes there was another reason she got the exclusive story.
“It’s funny because all we heard was, ‘It’s a regular ankle sprain; not a high ankle sprain,’” Giannotti explained Friday morning on WFAN. “Then Taylor Rooks gets over there and finds out it’s a high ankle sprain. I was thinking, ‘You know what? I’d tell her anything too. Whatever you need to know, Taylor, about me, I will tell you.’”
Giannotti watched the Giants lose the contest 30-12 and fall to a 1-2 overall record, but he also began to ponder over the manner in which Rooks was able to effectively do her job. It led him to make a proposition on the air that challenges the effectiveness of the team’s beat writers because of their collective age and appearance.
“I also thought, ‘Why don’t we use more attractive women in interrogation scenarios?,’” Giannotti said. “This is what I was thinking about after I saw this last night. Art Stapleton couldn’t get that out of Saquon Barkley – I love Art Stapleton, but there’s no way. Taylor Rooks got it out of him right away, so why don’t we send in some of these interrogation scenarios where people are just totally zipped up – send in a ‘10’ in there, [and the] next thing you know, ‘Yeah, it was him. He did it, and I did it. We did it together!’”
Giannotti’s co-host Boomer Esiason was surprised to hear Rooks get that information from Barkley, and has not seen anyone in the media react to the occurrence. The injury update changes the way in which people consider his timeline for a return and was a part of the Prime Video broadcast that Giannotti valued.
“Yeah, of course, great reporting,” Giannotti said. “I’m just thinking about all the Giants beat writers sitting around – old guys who look like me just stewing and trying to hide farts in the locker room.”
Arizona Sports Extends Deal With Coyotes
“We look forward to an exciting season delivering Coyotes coverage on-air, online and on the Arizona Sports app.”
Arizona Coyotes fans can keep their presets the same. The team has extended its relationship with Bonneville in Phoenix.
The new deal is a one-year extension to keep the Coyotes on the company’s two Phoenix-area radio stations, 98.7 Arizona Sports and ESPN 620 AM and on the statiations’ website and app.
“We are excited to continue our partnership with the Arizona Coyotes and the Meruelo Group,” Bonneville Phoenix senior vice president and market manager Ryan Hatch said in a statement. “We look forward to an exciting season delivering Coyotes coverage on-air, online and on the Arizona Sports app.”
As part of the extension, Burns & Gambo will welcome Coyotes president and CEO Xavier A. Gutierrez and general manager Bill Armstrong for weekly segments. Wolfe & Luke will be joined weekly by head coach André Tourigny.
“We are very pleased to extend our partnership with Bonneville Phoenix and are thrilled to have Arizona Sports 98.7 and ESPN 620 broadcast all Coyotes games this season,” Gutierrez added. “There is a tremendous amount of excitement about our team, and we look forward to Arizona Sports 98.7, the Valley’s sports leader, providing our fans with outstanding Coyotes coverage all season long.”
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