5/3 WAKE-UP CALL: Police Swarm UCLA, Hundreds Arrested

Police forcibly removed scores of defiant pro-Palestinian protesters at several colleges on Thursday, including taking down an encampment at UCLA in a jarring scene that underscored the heightened chaos that has erupted at universities this week. In the pre-dawn hours, helmeted police swarmed a tent city set up at the University of California in Los Angeles, using flash bangs and riot gear to push through lines of protesters who linked arms in a futile attempt to halt their advance. Los Angeles police said on social media that 210 people were arrested at UCLA, and hundreds of arrests were made at other universities overnight and on Thursday. "I'm a student here," one UCLA protester told cameras as he was led away, his hands bound. "Please don't fail us. Don't fail us." Hours later, the student, who would only give his first name as Ryan, was back on campus and vowed he would not stop fighting.

There’s a terror nexus staring us right in the face. Mob rule’s won before and now these radicals have the same expectations. Biden can say “don’t” all he wants, but our enemies don’t listen to him, so why would our citizens? pic.twitter.com/na5cyN9Vra

— Jesse Watters (@JesseBWatters) May 3, 2024

➤PROTESTORS REQUESTED VEGAN, GLUTEN-FREE FOOD: UCLA protestors requested vegan, gluten-free food . . . Participants in the ongoing “Palestine Solidarity Encampment” at the University of California Los Angeles (UCLA) have reportedly asked supporters to bring “vegan” and “gluten-free” food, whie warning “no nuts” and “no bananas.” The request list was obtained by Fox News’ Bill Melugin, and includes a variety of other supplies, including objects for use in clashes with counter-demonstrators and police, such as “gas masks,” “shields,” and “skater helmets.”

➤TIME TO CLEAN-UP: Work crews began removing tents, wood and other debris after officers forcibly removed a pro-Palestinian encampment in one of the most violent episodes since college demonstrations began last month. Hundreds of pro-Palestinian protestors were arrested, a California Highway Patrol officer told a local ABC affiliate. How many were affiliated with UCLA couldn’t be determined. At Columbia University, officials closed libraries, dining halls and the student center and asked the NYPD to stay on campus through graduation. Clashes at both schools have drawn national attention as students show solidarity with Gazans. Hamas’s Oct. 7 attacks on Israel sparked the war in the enclave. Universities have struggled to balance free expression with maintaining order and combating inflammatory and antisemitic rhetoric from some demonstrators.

WATCH: Fox’s @DanaPerino: “The liberal media is in a bit of a panic, fretting how the images of chaos could negatively impact the reelection chances of Biden.” pic.twitter.com/qPZpTyY9Ut

— TV News Now (@TVNewsNow) May 3, 2024

➤OBAMA STAFFER FEELS 'BETRAYED' BY BIDEN:  Philip Martin, a former Obama-Biden administration staffer, says he feels betrayed by President Joe Biden’s “unconditional support” for Israel as it continues its attack in Gaza, almost seven months after the terrorist group Hamas killed 1,200 people in Israel and took 250 hostages. Martin, a former director in the U.S. Department of Education, told USA TODAY he’d joined the Obama campaign in 2008 because he was furious that the Bush administration had “hijacked" the country's pain to justify killing civilians in Iraq and Afghanistan.But now, he says Biden is having a similar effect with his Israel foreign policy. "Seeing the Biden administration provide unconditional support to the Israeli war machine that is killing, displacing, starving, and otherwise terrorizing Palestinian civilians makes me just as furious and feels like a betrayal,” he said.

Rep. Marjorie Taylor Greene says she plans to move forward with an effort to remove House Speaker Mike Johnson. In an upcoming @60Minutes interview, Democrat leader Hakeem Jeffries tells @NorahODonnell that Democrats will vote against the congresswoman's efforts. pic.twitter.com/NuszGSbmpH

— CBS Evening News (@CBSEveningNews) May 2, 2024

➤COHEN 'DESPONDENT' OVER NOT GETTING JOB WITH TRUMP ADMIN: Michael Cohen was “despondent” when he learned he wasn’t getting a job in the Trump administration, a former lawyer for Stormy Daniels said. Keith Davidson, testifying for a second day in Donald Trump’s New York hush-money trial, said he got a call from the one-time personal attorney for the former president in December 2016. “I thought he was going to kill himself,” Davidson said of Cohen. Trump has previously tried to discredit Cohen, calling him a liar and a bad lawyer. Trump is charged with 34 counts of falsifying business records to cover up the payment to Daniels. The presumptive Republican presidential nominee has denied any wrongdoing. The trial resumes tomorrow.

Houston Radio: Sarah Pepper Exits Mornings At Mix 96.5 FM

 

KHMX-FM host Sarah Pepper announced Thursday that she is resigning from Mix 96.5.

"It breaks my heart to say that I have to leave," Pepper told listeners.  Pepper said her reason for leaving was because of her mom's health. She said the best decision she could make for her and her mom was to move them back to their hometown in Indiana, reports KHOU TV11. 

"If you've been through this then you know when parents get old, it's really hard to accept the fact that they are getting old, and as hard as it is for me, my mom is not going to get any younger," she said.

A message to you, Houston. Love, Sarah Pepper❤️ https://t.co/3kE8ovdPzs

— MIX 96.5 (@Mix965Houston) May 2, 2024

Pepper used her resignation announcement to reflect on how much Houston means to her. The popular radio host said she was 28 years old when she first came to Houston for a job interview. She said the minute she landed and had real Tex-Mex food, she was hooked. She called her mom that night and told her they were moving to Houston even before being offered the job.

Sony, Apollo Propose $26B Deal for Paramount Global

Sony Group Corp. and Apollo Global Management Inc. made a $26 billion proposal to buy Paramount Global, the media giant that owns CBS and MTV, according to people with knowledge of the matter.

Bloomberg reports the offer was described as a nonbinding expression of interest, said the people, who asked not to be identified discussing a preliminary proposal. It would be an all-cash offer for Paramount shares, plus the assumption of debt.

Paramount, which is controlled by Shari Redstone, has been weighing a merger proposal from David Ellison, the head of Skydance Media and son of Oracle Corp.’s co-founder. A period of exclusive talks between Paramount’s board and Ellison is scheduled to end Friday.

That proposed transaction, which involves buying out the controlling Redstone family at a premium and merging Ellison’s company into Paramount, has been criticized by other Paramount investors concerned about dilution of their holdings. Some have urged Paramount to consider other offers.

A special committee of Paramount directors went back to Ellison with a list of additional terms, which he largely matched, according to people familiar with the discussions. Ellison and his investors, which include RedBird Capital Partners, agreed to buy more Paramount nonvoting stock at a premium to sweeten the deal for the company’s other investors. The committee hasn’t yet decided whether to accept the offer.

Nonvoting shares of Paramount jumped more than 14% to $13.99 in New York. The move by Sony and Apollo was reported earlier Thursday by the New York Times.

The approach to Paramount is the latest by Apollo. The alternative asset manager previously suggested buying just the Paramount film studio and then made a tentative bid for the whole company, one the Paramount board didn’t view as complete.

Sony, already a major player in entertainment, is most interested in Paramount’s film and TV library. The deal being contemplated involves the Tokyo-based company acquiring a majority stake in the new venture, with Apollo as an investor. Still, a transaction involving a foreign owner and the consolidation potentially of two large Hollywood studios would likely face regulatory scrutiny.

NBA Targets $76B From New TV Rights Deals

The National Basketball Association is close to signing new long-term broadcasting agreements that would pay the league about $76 billion over 11 years, or three times its current deal, ccording to Bloomberg.

The league has agreed to the general framework of deals with Walt Disney Co. and Amazon.com Inc. that are worth $2.6 billion and $1.8 billion a year, respectively, according to people familiar with the terms. While neither is signed and they remain subject to change, it would be a surprise if either fell apart, said the people, who asked not to be identified since the talks are ongoing.

The league has yet to decide the winner of a third package, a race that is down to Warner Bros. Discovery Inc. and Comcast Corp. Comcast has proposed a deal worth about $2.5 billion, according to the Wall Street Journal, more than double what Warner Bros. pays under its current contract.

The league is going to secure a record payday of close to $7 billion annually thanks to strong demand for live sports and the emergence of new bidders. Like the NFL, the league has split its rights into more packages to maximize its returns. Disney, the parent of ESPN and ABC, and Warner Bros.’ Turner Sports have been the league’s two primary partners, but the NBA has prioritized bringing in a third partner rooted in technology.

Amazon is discussing a package of games for its Prime video platform. That would include some conference finals, though the specifics will depend on the outcome of the negotiations with Comcast and Warner Bros., according to the people. Amazon has been the most aggressive tech company when it comes to pursuing live sports. It already holds rights to Thursday Night Football in the US, as well as tennis and mixed martial arts in various territories.

Disney will air games on its ABC and ESPN networks, as well via streaming, the people said. The company is expected to keep the NBA finals. In the past, Disney has had one of the two conference finals, while Turner aired the other.

Comcast appears to be the favorite for a third piece of the contract, thanks to the size of its offer and ownership of the NBC broadcast network. The league wants to reach as many people as possible, and the audience for cable networks has been contracting. Comcast and would air games on the NBC broadcast network, its suite of cable networks and the Peacock streaming service. NBC last held NBA rights in the 2001-2002 season.

Some industry experts had questioned whether the NBA was seeking too much for its TV rights given that audience for the finals has declined in recent years. The league’s current media deals are worth a total of $24 billion, or over $2.6 billion a year.

Radio In An Evolving Landscape

 

Nielsen's audience measurement reporting provides comprehensive overviews of the media universe and deep dives into the audio landscape. In its newest report, The Record, Nielsen partners with Edison Research and hones in on the most relevant part of the audio landscape for advertisers: ad-supported audio.

Radio Is The Dominant Source of Ad-Supported Audio Listening

When it comes to the audio sources that advertisers care about - the platforms on which they can reach consumers with messaging - the vast majority of that listening happens on AM/FM radio. 7 out of every 10 minutes spent with ad-supported audio is done listening to AM/FM radio. Consumers spend over 3x as much time with radio than they do with podcasts, and over 6x as much as with ad-supported streaming audio. Radio's dominance goes even further in the car, making up more than 80% of ad-supported audio in-car.  

After looking at the share of time spent with all ad-supported audio, the next step is to delve deeper into the largest source, AM/FM radio, and examine what formats are drawing the most listening. AM/FM delivers engaging content across a variety of spoken word and music formats, each one offering advertisers a chance to reach a different target consumer. The Record also finds that format shares differ by platform preference as well, between all radio listening and AM/FM streams.  

News/Talk (including commercial and non-commercial stations) earns the highest share of total radio listening across OTA and station streams for P18+ at 10.8%. Also landing in the top 5 for total listening are AC, Classic Hits, Country and Classic Rock. When looking at streaming-only listening, News/Talk is number one with a bullet at 21.7%, with AC and Classic Rock still placing in the top 5. All Sports and Urban AC/R&B also show up strong among AM/FM streams. 

‘TV Ratings: The Five’ Keeps Outperforming Primetime

When Tucker Carlson was booted from Fox News last year, he took his massive prime time ratings with him. But according to Mediaite, an overlooked story is that in the final years of his reign he often traded ratings wins with a show that aired in the afternoons, a show that has now grown into a consistent behemoth of a ratings winner: The Five.

The Five features Fox News hosts Greg Gutfeld, Jesse Watters, Dana Perino, and Jeanine Pirro and rotating co-hosts Jessica Tarlov and Harold Ford Jr. The 5 p.m. show is the perfect place to find passionate and sometimes tense and loud debates on everything from politics to sports to culture.

In the first quarter of 2024, The Five averaged more than three million viewers, according to Nielsen Media Research. For context, Fox’s prime time shows, which top competitors MSNBC and CNN, don’t quite reach those numbers. Jesse Watters Primetime averaged 2.79 million viewers, Hannity averaged 2.4 million, and The Ingraham Angle averaged 2.2 million viewers.

Airing at 5 p.m. is typically not supposed to bring in the kind of ratings that beat a network’s prime time lineup, but The Five has defied the odds in that respect. The show became the first non-prime time program to break into the cable news top 10 for 10 consecutive quarters.

📺Among Total Viewers

1. The Five — Fox News (3,027,000)
2. Jesse Watters Primetime — Fox News (2,570,000)
3. Hannity — Fox News (2,217,000)
4. Gutfeld! — Fox News (2,083,000)
5. Special Report with Bret Baier — Fox News (2,056,000)
6. The Ingraham Angle — Fox News (2,013,000)
7. Deadline: White House — MSNBC (1,678,000)
8. Outnumbered — Fox News (1,612,000)
9. The Beat with Ari Melber — MSNBC (1,585,000)
10. Last Word with Lawrence O’Donnell — MSNBC (1,579,000)
11. America’s Newsroom — Fox News (1,542,000)
12. The Faulkner Focus — Fox News (1,510,000)
13. Your World with Neil Cavuto — Fox News (1,481,000)
14. The Story — Fox News (1,469,000)
15. All in with Chris Hayes – MSNBC – (1,451,000)

📺Among Adults 25-54

1. Gutfeld! — Fox News (295,000)
2. The Five — Fox News (262,000)
3. Jesse Watters Primetime — Fox News (244,000)
4. Hannity — Fox News (240,000)
5. The Ingraham Angle — Fox News (198,000)
6. Outnumbered — Fox News (197,000)
7. Special Report with Bret Baier — Fox News (196,000)
8. The Faulkner Focus — Fox News (188,000)
9. America’s Newsroom — Fox News (186,000)
10. Fox News at Night — Fox News (183,000)
11. Fox & Friends Saturday — Fox News (167,000)
12. America Reports — Fox News (163,000)
13. The Story — Fox News (162,000)
14. Fox & Friends Sunday — Fox News (161,000)
15. Your World with Neil Cavuto — Fox News (160,000

Universal Music Group Revenues Up 6%

Universal Music Group (UMG) reported strong financial results for the first quarter of 2024. Here are the key highlights:

Revenue Growth: UMG generated revenue of 2.59 billion euros (approximately $2.8 billion) in Q1 2024. This represents a 5.8% increase (or 7.9% at constant currency) compared to the same period in the previous year1.

Adjusted EBITDA Margin: The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by 13.2%, reaching 591 million euros ($640 million). The adjusted EBITDA margin increased to 22.8%, up from 21.3% in Q1 20231.

Product Mix and Margin Improvement: UMG attributed the margin improvement to revenue growth and a change in product mix, specifically a decrease in physical sales. However, executives cautioned against reading too much into any single quarter and emphasized looking at longer-term trends1.

TikTok Licensing Deal: UMG recently announced a new licensing deal with TikTok. While specific details were not disclosed, executives stated that the deal provides fair value relative to other short-form video platforms. The agreement includes aspects of economic value beyond direct revenue, such as ad credits, data, and marketing programs1.

Recorded Music and Subscription Services: UMG’s recorded-music division saw growth, with recorded-music subscription revenue increasing by 10.7% to 1.12 billion euros ($1.2 billion). Subscription services continue to be a driving force for UMG, accounting for 43.3% of total company revenue. Subscriber growth remains a significant driver of year-over-year growth rates1.

Total Streaming Revenue: While total streaming revenue grew at a slower rate (8.9%), it reached 343 million euros ($371 million) in Q1 2024. UMG remains encouraged by improvements in ad-supported streaming but remains cautious about growth until consistent broad-based improvements are seen across all partners and geographies1.

Overall, UMG’s diverse revenue streams, including subscriptions and streaming, contribute to its continued success in the music industry

Concerts Drive Ticket Sales, Live Nation Revenue Beats Estimates

Ticketmaster parent Live Nation Entertainment beat estimates for first-quarter revenue on Thursday, driven by the popularity of live events such as concerts, sending its shares up more than 3% in aftermarket trading.

Reuters reports high ticket prices amid rising demand for live events, at a time when more performers are gearing up for concerts, have benefited companies such as Live Nation.

Revenue rose 21% to $3.80 billion for the first quarter ended March 31, beating estimates of $3.26 billion.

The total estimated events rose about 13% from a year earlier to 11,203, while total estimated fans stood at 22.9 million, compared with 18.9 million a year earlier.

Ticket sales reached an estimated total of about 155 million in the first quarter, compared with 145.5 million a year earlier.

The company's concert business comprising merchandise sales and the production of live music events generated $2.88 billion, making up the bulk of its overall revenue, followed by $723.2 million from ticketing.

The Beverly Hills, California-based company's loss per share in the reported quarter was 53 cents, compared with estimates for a loss of 18 cents per share.

Apple's Share Price Surges After Earnings Report

Apple’s share price experienced a significant surge Thursday following its impressive Q1 earnings announcement. Here are the key details:

Share Price Movement: On that particular day, Apple’s share price soared approximately 7%, reaching $170. This remarkable increase was driven by the news that Apple achieved a staggering $124 billion in revenue during Q1.

Pre-Market Trading: Prior to the market opening, Apple’s share price had already climbed nearly 5% during pre-market trading, opening strongly at $165.

Warren Buffet’s Holdings: The gain in Apple’s share price had a significant impact on Warren Buffet’s Berkshire Hathaway holdings, which grew in value by almost $10 billion in just one day. Berkshire Hathaway owns almost 888 million Apple shares, representing more than 5% of Apple’s total stock.

Earnings Highlights: During the Q1 earnings call, Apple reported a new all-time quarterly revenue record of nearly $124 billion. The company’s quarterly profit stood at $34.6 billion. Growth was observed across all product lines, including strong performance from the iPhone 13. However, iPad sales were impacted by supply constraints.

Dividend for Shareholders: Not only did shareholders witness portfolio growth, but they can also expect a handsome dividend of $0.22 per share.

Layoffs Reported At Allen Media Divisions

Byron Allen’s Allen Media Group has begun layoffs across every division of the company, which includes The Weather Channel, The Grio and Freestyle Digital Media, a rep for the company told TheWrap on Thursday.

Byron Allen

“Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company,” read the statement, dated Monday. That’s when cuts at TheGrio, a multi-platform media outlet catering to Black Americans, were first reported.

“Allen Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market. We are aligning these changes to drive future business opportunities and support our growth strategies in our rapidly evolving industry,” the statement, which was shared with TheWrap again on Thursday, concluded.

“The axe is falling at TheGrio,” an individual with knowledge of the situation told TheWrap on Monday. Managing editor Christy Oglesby and members of the podcast and video team were laid off, the individual said.

Allen, who founded his company in 1993, offered to buy Paramount Global for $14 billion in January. The deal would have included the assumption of Paramount Global’s debt, bringing the total cost to $30 billion.

What's Going On At ABC News?

ABC News President Kim Godwin reportedly is facing increasing scrutiny from Debra OConnell, who was appointed to oversee the news network earlier this year. OConnell has been evaluating the state of affairs at ABC News and has been less than impressed with what she has found1. In private conversations, OConnell has pointed to a slew of problems that have materialized on Godwin’s watch, faulting the embattled ABC News chief for her hands-off leadership style, which she believes has allowed problems to fester. 

When ABC News staffers phoned into the network's daily editorial meeting on Thursday, they quickly took note of the absence of their ostensible boss, President Kim Godwin. Hours after CNN reported about how Godwin is skating on thinning ice, the embattled news chief was nowhere to be found as staffers assembled to discuss the day's coverage plans.

Cumulus Gets Debt Extension

Cumulus Media, a major player in the media industry, has successfully secured an extension to repay its debt. Here are the key details:

Debt Amount: Cumulus had approximately $325.7 million in debt set to mature in 2026.

Extension Offer: Through an exchange offer, the company managed to push back the maturity date to 2029. This extension provides Cumulus with much-needed financial breathing room. The exchange offer achieved about 94% of the company’s targeted $346 million reduction in debt. Lenders agreed to eliminate restrictive covenants on the debt, modify certain provisions, and release collateral securing the old notes.

Interest Rate: While Cumulus will pay a higher interest rate (8% compared to the current 6.75%), it gains more time to repay what’s owed.

Strategic Flexibility: By proactively extending the debt maturities, Cumulus aims to enhance its long-term strategic and financial flexibility.

This move allows Cumulus to focus on its operations and navigate the challenges faced by the media landscape. The company’s quarterly earnings report is expected soon, shedding further light on its financial performance2. If you have any more questions, feel free to ask! 

Merulo Media Appoints Pio Ferro SVP/Audio

 

Pio Ferro, a seasoned executive in the audio industry, has taken on the role of Senior Vice President (SVP) for Audio Brands at Meruelo Media. His appointment brings a wealth of experience and expertise to the company’s audio division.

Pio Ferro

As SVP for Audio Brands, Ferro will be responsible for overseeing the strategic direction and growth of Meruelo’s audio properties. This includes radio stations, podcasts, and other audio content. His leadership will play a crucial role in shaping the company’s brand identity and expanding its reach in the competitive media landscape.

Meruelo Media, a diversified media company, operates radio stations across various formats, including music, news, and talk. With Ferro’s leadership, the company aims to strengthen its position in the audio market and deliver compelling content to its audience.

Ferro’s track record in the industry makes him a valuable addition to Meruelo Media. His insights and vision will undoubtedly contribute to the company’s success as it continues to evolve in the dynamic world of audio entertainment.

Pio Ferro’s appointment as SVP for Audio Brands at Meruelo Media is an exciting development for the company. His expertise and strategic leadership will likely have a positive impact on the organization’s audio properties. If you have any further questions or need additional information, feel free to ask! 

Radio History: May 3

➦In 1904...Harry Lillis "Bing" Crosby born (some sources list May 2 – Died from heart attack October 14, 1977).

Bind Crosby

He was the first multimedia star, Crosby was a leader in record sales, radio ratings, and motion picture grosses from 1931 to 1954.  His early career coincided with recording innovations that allowed him to develop an intimate singing style that influenced many male singers who followed him, including Perry Como, Frank Sinatra, Dick Haymes, and Dean Martin. Yank magazine said that he was "the person who had done the most for the morale of overseas servicemen" during World War II.   In 1948, American polls declared him the "most admired man alive", ahead of Jackie Robinson and Pope Pius XII.  Also in 1948, Music Digest estimated that his recordings filled more than half of the 80,000 weekly hours allocated to recorded radio music.

Crosby won an Academy Award for Best Actor for his role as Father Chuck O'Malley in the 1944 motion picture Going My Way and was nominated for his reprise of the role in The Bells of St. Mary's opposite Ingrid Bergman the next year, becoming the first of six actors to be nominated twice for playing the same character. In 1963, Crosby received the first Grammy Global Achievement Award.  He is one of 33 people to have three stars on the Hollywood Walk of Fame, in the categories of motion pictures, radio, and audio recording.  He was also known for his collaborations with longtime friend Bob Hope, starring in the Road to... films from 1940 to 1962.

Crosby influenced the development of the postwar recording industry. After seeing a demonstration of a German broadcast quality reel-to-reel tape recorder brought to America by John T. Mullin, he invested $50,000 in a California electronics company called Ampex to build copies. He then convinced ABC to allow him to tape his shows. He became the first performer to pre-record his radio shows and master his commercial recordings onto magnetic tape. Through the medium of recording, he constructed his radio programs with the same directorial tools and craftsmanship (editing, retaking, rehearsal, time shifting) used in motion picture production, a practice that became an industry standard. In addition to his work with early audio tape recording, he helped to finance the development of videotape, bought television stations, bred racehorses, and co-owned the Pittsburgh Pirates baseball team.

On September 2, 1931, Crosby made his nationwide solo radio debut. Before the end of the year, he signed with both Brunswick and CBS Radio. Doing a weekly 15-minute radio broadcast, Crosby became a hit.

Chicago Radio: 100.3 Evolves to Throwback 100.3!

Today 100.3 WSHE closed the circle on its musical evolution, which began 24 months ago! Now known as Throwback 100.3, the station that plays all the biggest hits from the greatest era of pop music, the 90s and early 2000s!

“I’m thrilled to be a part of a station brand built around the two decades of the best pop music ever released, the 90s and early 2000s! The New Throwback 100.3 brings back all the good times and great feelings those amazing songs gave us then and now.” stated Jimmy Steal, Vice President of Brand and Content for WTMX and WSHE.

Vice President & Market Manager Keith Lawless added, “Congratulations to everyone in Chicago. Throwback 100.3 is finally here! All the hits of pop music’s most exciting time can now be enjoyed in one place”.

Throwback 100.3 features nonstop throwback hits every Thursday! Every weekday at 9 a.m., 2 p.m., and 5 p.m., one lucky listener will win a throwback artist experience, and one of those 100+ winners will have a chance to win $1,000,000. The winning begins this Monday only on Throwback 100.3. 

📻Listen for more details: HERE