July 24- Shares of radio station operator Townsquare Media LLC fell as much as 7 percent in their market debut, valuing the company at about $172 million. The Greenwich, Connecticut- based company's IPO raised about $91.3 million, after its offering of 8.3 million Class A shares was priced at $11, below its expected price range of $14- $16.» Read More
We all thought Mark Cuban's next project might be the Chicago Cubs, silly us. It's a new pro football league to go up against the NFL with something called the United Football League. We don't know much other than what has been leaked in a press release by the New York Times, which has the story for its June 3 edition of PLAY, their sports magazine.This is what we know. The league will be called the United Football League. Cuban will be one owner and he and Wall Street investor Bill Hambrecht and Google executive Tim Armstrong are looking for seven more to start some pre-season games in August 2008. We know that there will be teams in non-NFL markets like Los Angeles, Las Vegas and Mexico City, and that they'll play games on Friday night.
Sony says it will introduce its first HD Radio products in July, joining the growing group of companies seeking to make the next-generation digital radio technology a standard feature in audio products over the next several years.
Ford has signed Funkmaster Flex -- a popular hip-hop DJ and personality on New York City's Hot 97 radio station -- as a company pitchman for its Ford Flex Expedition, and as host of a new TV show where regular Joes compete in customizing one of the company's SUVs. This is a smart move by Ford for a couple reasons. First, Flex's popularity with younger car buyers can help the company gain some much needed buzz on the new Flex CUV. Second, it's another case of Ford trying to break out with a new approach.
Sirius Satellite Radio said its first-quarter loss narrowed sharply from the same quarter a year ago and reiterated its guidance for revenue and subscribers for 2007.
The sale comes as Clear Channel's shareholders consider a nearly $19.5 billion private equity buyout offer for the company.
At its "First Look" presentation to advertisers Tuesday -- like the TV Networks ad upfronts -- AOL announced five web broadband deals. Randy Falco presented partnerships with Dreamworks Animation, Ellen, and reality TV guru-producer, Mark Burnett. These big announcements designed to draw advertising dollars, promising advertisers better metrics on who's watching what, than you can get from TV ads.
If you believe everything you read, you would have thought that San Diego Chargers running back LaDainian Tomlinson was just lucky enough not to get the Madden cover endorsement. Electronic Arts officially announced last night that Tennessee Titans quarterback Vince Young would grace the cover of the next version of the jinxed popular video game. "Vince was the guy all along," EA's director of marketing Chris Erb told the San Diego Union-Tribune today.
Internet radio broadcasters were dealt a setback Monday when a panel of copyright judges threw out requests to reconsider a ruling that hiked the royalties they must pay to record companies and artists.
Web search leader Google has broken into radio with a multi-year advertising sales agreement with the largest U.S. broadcaster, Clear Channel Radio, the companies said on Sunday.
The buyout groups bidding for U.S. radio operator Clear Channel Communications have suggested sweetening their offer by allowing shareholders to co-invest in the firm, as a key vote on the deal approaches, a source close to the situation said on Sunday.
When advertisers ran from Don Imus, the die was cast: MSNBC and CBS pulled the plug on his show. But the question remains: did the sponsors show leadership in making their decisions to cancel ad spots -- or was it a case of cut and run? Jeffrey Sonnenfeld, senior associate dean at the Yale School of Management, and James Post, corporate governance and ethics professor at the Boston University School of Management, told "Power Lunch" viewers that the sponsors did the right thing -- and will do it again in the future.
CBS fired Don Imus from his radio show Thursday, the finale to a stunning fall for one of the nation's most prominent broadcasters. Imus initially was suspended for calling the Rutgers women's basketball team "nappy-headed hos" last week, but outrage continued and advertisers bolted from his programs.
Leo Terrell, a civil rights attorney and a radio talk show host, told CNBC’s “Morning Call” that Don Imus “is history” because his guests and advertisers will abandon him following his racially charged comments about a women’s basketball team.
NBC News has decided that its cable news channel, MSNBC will no longer simulcast the Don Imus radio program, effective immediately. CBS Radio says its two week suspension of the program stands although it is monitoring the situation. Advertisers have been defecting from the controversial radio host.
SMG, the Scottish media group, said on Thursday it would list Virgin Radio by way of an Initial Public Offering (IPO) and would focus on TV as its core business as part of its strategic turnaround.
The storm over Don Imus' racial comments escalated as more advertisers pulled out from his show. CNBC's Donny Deutsch told "Power Lunch" that "I think Imus is done."
Imus is in trouble for his offensive remarks, and he's not helping himself any. Now Procter and Gamble -- one of the biggest advertisers in the US -- just pulled all their ads from daytime MSNBC, and Bigelow Teas and Staples are suspending their ads for now.
Procter & Gamble, Staples and Bigelow Tea have suspended their advertising spots on Don Imus's radio show in reaction to his comments about the Rutgers women's basketball team, according to the Wall Street Journal.
CNBC's Donny Deutsch, the host of "The Big Idea" and self-described "ad sherpa, says that sponsorship, more than politics, may spell the professional doom of radio host Don Imus.Speaking on "Power Lunch," Deutsch talked about Imus' comments about the Rutgers University womens' basketball team with Sue Herera. Deutsch said "what really matters" is when the advertisers weigh in. "It's about money."
This may be my favorite ingeniously cheap PR ploy of the year so far: KFC is STILL trying to convince "Idol" contestant Sanjaya Malakar to sport a "bowl cut," to promote the chain's Famous Bowls. Malakar is the young kid who hulas but doesn't sing very well, yet he continues to advance on "Idol" partly because of a subversive campaign by Howard Stern.