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RADIO ONE COLUMBUS HIRES NEW PROGRAM DIRECTOR

Radio One Columbus announces that Arthur Willis (A- Plus) will be the new Program Director for Power 107.5/106.3FM.

A-Plus was highly successful in St. Louis and Detroit prior to becoming the Program Director of WIZF 101.1FM “The Wiz” in Cincinnati in 2018.  He will continue as Program Director of WIZF 101.1FM while adding the additional duties of Program Director for Power 107.5/106.3FM.

Arthur Willis stated, “I am truly honored and excited to be a part of the Radio One Columbus team. I would like to thank Colby Colb, Kimberly Kyle and Eddie Harrell for entrusting me with this great opportunity.”

A-Plus’s vast experience and understanding of the market will help secure and expand the Radio One influence as the #1 multimedia company in Central Ohio. Beyond his Midwest experience, he has worked at radio stations in the East Coast region including his hometown station, WCDX-FM in Richmond, Virginia.

“We look forward to A-Plus bringing his leadership skills and programming background to our team on Power 107.5/106.3FM.  A-Plus will continue to serve as Program Director for WIZF 101.1FM in Cincinnati. His vast experience in the Midwest and East Coast will prove to be invaluable”, says Regional Vice President Eddie Harrell, Jr.

http://www.mycolumbuspower.com

 

RADIO ONE CLEVELAND ANNOUNCES YONNI RUDE AS NEW OPERATIONS MANAGER

Radio One Regional Vice President, Eddie Harrell, Jr. announced yesterday afternoon that Yonni Rude will be Radio One Cleveland’s new Operations Manager. Yonni Rude will oversee all of the brands in the stations’ cluster which include (WENZ-FM Z107.9, WZAK-FM 93.1, WJMO-FM Praise 94.5 and WERE-AM Newstalk 1490). 

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Emmis Announces Agreement to Form New Public Company with Standard General

Emmis Communications Corporation (Nasdaq: EMMS) today announced that it has signed an agreement to form a new public company, Mediaco Holding, with New York investment firm Standard General.  Mediaco Holding will purchase from Emmis two of its New York radio properties, WBLS-FM, and WQHT-FM (HOT 97).  Closing of the transaction is subject to FCC approval and other customary closing conditions and is expected to occur later this year.

As a result of the transaction, Emmis will receive $91.5 million in cash, a $5 million note receivable, and 23.72% of the common equity of Mediaco.  Emmis will distribute this common equity of Mediaco pro rata to its shareholders in a taxable dividend.  Mediaco will be a public company expected to be listed on NASDAQ, and Emmis will remain a separate public company, as well.

Emmis will remain active in the management of WBLS and HOT 97 and provide certain corporate services to Mediaco pursuant to a management agreement between the parties.  Jeff Smulyan will be the Chief Executive Officer of Mediaco and will continue to serve as Chairman and Chief Executive Officer of Emmis, which will remain a public company.  Standard General will appoint a majority of the board of directors of Mediaco and Soohyung Kim, Chief Executive Officer, Managing Partner and Chief Investment Officer of Standard General L.P., will be Chairman of Mediaco.

“This is a landmark day in the forty-year history of Emmis,” said Jeff Smulyan.  “We look forward to continuing to manage two of the world’s most iconic radio brands in HOT 97 and WBLS and employ our award-winning New York team as we partner with Soo Kim and Standard General to form a new public company to invest in media opportunities. The transaction provides Emmis significant capital to aggressively pursue new business opportunities that align with our entrepreneurial spirit and management skills.  We are also excited to work with Soo and Standard General to grow Mediaco Holding.  We have already been evaluating great investment opportunities and I’m incredibly excited about the future. Today is a great day for the future of Emmis.”

“Our team is excited about partnering with Jeff and the Emmis management team informing Mediaco Holding,” said Soo Kim. “We’re thrilled to acquire two of New York’s legendary radio brands in HOT 97 and WBLS and work with Emmis to build on each brand’s success.  These stations will form the foundation for a new public company that will invest in media assets and builds on our successful track record of media investments.”

No personnel changes are planned.  All New York employees will continue to be Emmis employees with Emmis benefits as part of an Employee Leasing Agreement with Mediaco.

After this transaction and the previously announced sale of our partnership interest in Austin, Emmis will operate New York’s WLIB and WEPN (through an LMA with ESPN Radio), four radio stations in Indianapolis, Indianapolis Monthly, and Digonex, a dynamic pricing company.  Emmis also owns its headquarters at 40 Monument Circle, Indianapolis, and a valuable tower site in Whitestown, Indiana.

Moelis & Company acted as an advisor in this transaction, and Taft Stettinius & Hollister LLP served as legal counsel to Emmis.  Morgan, Lewis & Bockius LLP served as legal counsel to Standard General.

About Emmis Communications 

Emmis Communications Corporation (Nasdaq: EMMS) currently owns 11 FM and 3 AM radio stations in New York, Austin (Emmis has a 50.1% controlling interest in Emmis’ 6 radio stations located there) and Indianapolis. Emmis also owns Indianapolis Monthly magazine and a controlling interest in Digonex, which provides dynamic pricing solutions across multiple industries.

Note: Certain statements included in this press release which are not statements of historical fact, including but not limited to those identified with the words “expect,” “will” or “look” are intended to be, and are, by this Note, identified as “forward-looking statements,” as defined in the Securities and Exchange Act of 1934, as amended. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statement.

Such factors include, among others:

  • general economic and business conditions;
  • fluctuations in the demand for advertising and demand for different types of advertising media;
  • our ability to service our outstanding debt;
  • competition from new or different media and technologies;
  • loss of key personnel;
  • increased competition in our markets and the broadcasting industry, including our competitors changing the format of a station they operate to more directly compete with a station we operate in the same market;
  • our ability to attract and secure programming, on-air talent, writers and photographers;
  • inability to obtain (or to obtain timely) necessary approvals for purchase or sale transactions or to complete the transactions for other reasons generally beyond our control;
  • increases in the costs of programming, including on-air talent;
  • fluctuations in the market price of publicly traded or other securities;
  • new or changing regulations of the Federal Communications Commission or other governmental agencies;
  • enforcement of rules and regulations of governmental and other entities to which the Company is subject;
  • changes in radio audience measurement methodologies;
  • war, terrorist acts or political instability; and
  • other factors mentioned in documents filed by the Company with the Securities and Exchange Commission.

Emmis does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

SOURCE Emmis Communications

CUMULUS MEDIA Promotes Veteran Programming Professional Kenny Smoov

CUMULUS MEDIA announces that it has promoted veteran radio programming professional Kenny Smoov as Vice President, Urban Formats. In his new role, Smoov will serve as a corporate programming resource for the company’s 37 Urban-formatted stations in 25 markets across the U.S. Smoov joined Cumulus in 2003, and continues in his current roles as Program Director for Cumulus Nashville’s Urban AC station 92Q/WQQK-FM and Host of The Kenny Smoov Morning Show on 92Q. Smoov has programmed stations in markets including Nashville, TN; New Orleans, LA; Greensboro, NC; and Myrtle Beach, SC. A Desert Storm veteran, Smoov has been honored for his work as The Tennessean’s 2017 Favorite Radio Personality of the Year, was Billboard Radio Personality of the Year (Small Market), and received an NAACP Image Award, among others. 

Brian Philips, Executive Vice President, Content and Audience, CUMULUS MEDIA, said “Kenny does it all. His natural talent and hard-driving work ethic earned him this promotion. He is on the frontlines of the next generation of Cumulus senior leaders.”

Smoov said: “I want to say ‘Thank You’ to Brian Philips for affording me this wonderful opportunity to work with such an amazing team of programmers and talents. I also want to thank Mike McVay for always believing in me, and Allison Warren and Charlie Cook at my home base in Nashville for sharing me with the rest of Cumulus. I look forward to creating some magic with everyone at Cumulus and Westwood One! Let’s Win! #FORCE”

Source: CUMULUS MEDIA
www.cumulusmedia.com
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