HD Radio: Sold…Again

It came as a surprise to attendees of last week’s NAB Radio Show in Nashville: just a day before the CEO of DTS, the company who bought HD Radio proprietor iBiquity just last year, was to be a featured guest at a convention luncheon, his company was acquired by Tessera Technologies in an $850 million deal.

Who is Tessera? Founded in New York back in 1990, the company initially began as a designer and manufacturer of semiconductor chipsets, including memory modules. It went public on the NASDAQ stock exchange in 2003; five years later it acquired FotoNation, a company devoted to image analysis. Read More

Thanks to Translator-Mongering, AM Broadcasters Now Openly Advocating Band’s Abandonment

It’s still more than two months away, but in late November Americans will sit down with their families/friends and gorge themselves on food, then satedly lounge around giving thanks for their bounty. The U.S. radio industry’s going through that process presently, having spent most of the year scarfing up and then trading around FM translator stations.

In quick summary: FM translators are a class of radio station limited to a broadcast power of 250 watts but unlimited in antenna height (the key factor for good FM coverage). They are considered secondary services, in that they must rebroadcast another radio station. For decades, translators have been used as stand-in broadcast nodes by interests who wanted to build out radio networks on the cheap — by and large, these have been religious and public broadcasters who pipe in programming via satellite to air on a translator. Translators don’t require any staff and since they don’t originate their own programming all they need is a shack for the RF-boxes and a tower nearby.

This all began to change last decade when, after a multi-year freeze on new translator stations in order to implement the LPFM radio service, the FCC opened a filing window for new translators in 2003. Several cunning parties were well-prepared for this opportunity, flooding the agency with tens of thousands of translator applications — a 250-watt FM spectrum gold rush. Out of these came thousands of new translator stations, which in the intervening years have been fodder for speculative development of the FM dial around the country. Read More

More Radio Industry Market-Maneuvering Afoot

Although iHeartMedia’s dance with bankruptcy is widely seen as a key indicator of the health of the radio industry more broadly, that company is not alone in reconfiguring its approach to finance capital. Two other conglomerates are also making moves — one trying to leave the stock-trade behind while another wants to jump back into those waters.

First up is Emmis Communications: the Indianapolis-based company has been hammered in the stock market over the last few years, threatened with delisting by NASDAQ after its stock dropped below $1 per share in 2015. After conducting a reverse-stock split earlier this year (reducing the number of shares in circulation, thereby inflating the price of remaining shares) which brought the company back into compliance, company founder and CEO Jeff Smulyan has announced a $46 million bid to take the company private. Read More