Entercom's planned acquisition of CBS Radio could close as early as mid-November, keeping the deal on track to make Entercom one of the industry's biggest radio groups. CBS on Thursday announced that it was moving forward with an exchange offer through a "Reverse Morris Trust" to split off the radio division in preparation for the acquisition.
Verizon netted 603,000 postpaid wireless connections in the third quarter -- nearly twice as many as Wall Street analysts had expected -- and increased wireline revenue by 1.1%. Verizon's Matt Ellis says the telecom has not decided when it will launch its over-the-top video service, although Bloomberg reports the company has pushed it back until spring.
The launch of Next Gen TV could be approved by the Federal Communications Commission early next year, but broadcasters still have opposing views as to how the initial business model for the system should look. A panel at the NAB Show New York debated the benefits of early use cases, including 4K Ultra-HD programming and datacasting.
Over 99% of Class A and Class B shareholders for Tribune Media voted in favor of its proposed deal with Sinclair Broadcasting Group during a Thursday meeting. The Federal Communications Commission this week announced a 15-day break during its 180-day review to allow time for additional comments regarding the proposed deal to be submitted.
CBS Sports will be launching a streaming service "soon," says CBS Interactive President and Chief Operating Officer Marc DeBevoise. The service will be centered around sports news and talk, as opposed to live games, DeBevoise confirmed.
Variety TV critic Maureen Ryan has written a column about being sexually assaulted by a TV executive in 2014. While Ryan couldn't name her attacker due to legal reasons, she writes that she will no longer stay silent, adding, "A television executive assaulted me, and the specific power dynamics of this industry aid and abet men like him."
IHeartMedia CEO Bob Pittman was given the Broadcaster of the Year award Thursday by the New York State Broadcasters Association. "Bob Pittman is a true industry leader and perhaps the most creative, visionary and dynamic executive in broadcasting," said NYSBA President David Donovan.
Advancements in over-the-top (OTT) content/distribution continue to present lucrative opportunities for local media companies. This webcast presents multiple case studies that uncover what OTT adopters are currently doing and reveals where tangible monetization and exponential OTT business growth is occurring. Access it here.
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