Tag: Media and Entertainment

Release – Bowlero Announces 20th Center Acquisition in Fiscal 2024, Opens New California Lucky Strike And Share Repurchase Update

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BOWL

01/16/2024

RICHMOND, Va.–(BUSINESS WIRE)– Bowlero Corporation (NYSE: BOWL), the global leader in bowling entertainment, announced today the signing of Ten Pin in Hilliard, Ohio, the company’s 20th center acquisition in fiscal 2024. During the second quarter of fiscal 2024, Bowlero Corp. completed the acquisitions of Niles Bowling center in Niles, IL and BAM! Entertainment Center in Holland, MI. The total FY 2024 investment in acquisitions thus far, including the 14 Lucky Strike centers is $145.9 million.

Bowlero Corp. opened Lucky Strike Moorpark in Moorpark, CA, northwest of Los Angeles, in December. This is Bowlero’s first new build using the Lucky Strike brand since it was acquired in September. Lucky Strike Moorpark, a 43,000 sq. ft. entertainment center in Ventura County, features 40 bowling lanes, an arcade with over 80 games, and a spectacular sports bar. This is Bowlero Corp.’s 52nd center in California and the fifth Lucky Strike branded center in the state.

“These strategic acquisitions and the opening of Lucky Strike in Moorpark underscore our commitment to expanding our presence and enhancing the bowling entertainment experience across prime markets,” stated Thomas Shannon, Founder, Chairman and CEO of Bowlero Corp. “We look forward to continuing the expansion of the iconic Lucky Strike brand, leveraging its established brand equity, and delivering premium experiences to a broad audience.”

The company provided an update on its ongoing share repurchase program. Bowlero repurchased approximately 7.5 million shares of its common stock in the second quarter of fiscal 2024, totaling an aggregate purchase price of approximately $80 million. In the first quarter of FY 2024, the company repurchased approximately 12.1 million shares for approximately $131 million, bringing total share repurchases in the first half of fiscal 2024 to approximately 19.6 million. Since Bowlero’s IPO, the company has spent approximately $432 million retiring all SPAC-related warrants, 31.0 million shares of common stock and 4.9 million as-converted preferred shares, reducing common stock outstanding by approximately 20%. Bowlero Corp. anticipates continuing its share repurchase program through the balance of fiscal 2024 and beyond, subject to market and other conditions.

Bowlero Corp. is positioned for continued growth, with a focus on strategic acquisitions, innovative developments, and shareholder value creation. The company anticipates further growth and expansion in the coming year.

About Bowlero Corp

Bowlero is the global leader in bowling entertainment. With approximately 350 bowling centers across North America, Bowlero serves more than 40 million guest visits annually through a family of brands that include Bowlero, Lucky Strike and AMF. In 2019, Bowlero acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero, please visit BowleroCorp.com.

Forward Looking Statements

Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions and uncertainties, such as statements of our plans, objectives, expectations, intentions and forecasts. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “confident,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: our ability to design and execute our business strategy; changes in consumer preferences and buying patterns; our ability to compete in our markets; the occurrence of unfavorable publicity; risks associated with long-term non-cancellable leases for our centers; our ability to retain key managers; risks associated with our substantial indebtedness and limitations on future sources of liquidity; our ability to carry out our expansion plans; our ability to successfully defend litigation brought against us; our ability to adequately obtain, maintain, protect and enforce our intellectual property and proprietary rights and claims of intellectual property and proprietary right infringement, misappropriation or other violation by competitors and third parties; failure to hire and retain qualified employees and personnel; the cost and availability of commodities and other products we need to operate our business; cybersecurity breaches, cyber-attacks and other interruptions to our and our third-party service providers’ technological and physical infrastructures; catastrophic events, including war, terrorism and other conflicts; public health emergencies and pandemics, such as the COVID-19 pandemic, or natural catastrophes and accidents; changes in the regulatory atmosphere and related private sector initiatives; fluctuations in our operating results; economic conditions, including the impact of increasing interest rates, inflation and recession; and other factors described under the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company on September 11, 2023, as well as other filings that the Company will make, or has made, with the SEC, such as Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

For Media:
PR@BowleroCorp.com

Source: Bowlero Corp

As Legacy Media Declines, Radio Stands Out – And New Players Emerge

Posted on by slightbourne@noblecapitalmarkets.com

The media landscape is rapidly shifting, with many legacy formats like pay TV seeing accelerating declines. But amid this turmoil, radio has showed surprising resilience according to a recent report. Terrestrial radio revenue and listenership has held relatively steady over the past decade even as cable TV crumbled.

This contrast highlights radio’s enduring role delivering localized, personality-driven and interactive content. While digital disruption has hindered other mediums, broadcasters see internet streaming and podcasts as opportunities to expand radio, not threats. Already, leading players are blending new digital formats with traditional over-the-air offerings.

The stubborn stability of radio presents a growth opportunity for investors amid the broader challenges facing legacy media. Traditional TV and print advertising revenue continues falling sharply, down 18% and 14% respectively in 2023 per GroupM estimates. But radio ad spending is only projected to slip 6% this year.

Plus, radio has room to run just to regain pre-pandemic ad levels. Industry leader iHeartMedia saw a 23% decline in broadcast revenue from 2019 to 2023. As the ad market rebounds post-Covid, radio looks relatively attractive compared to more distressed legacy formats.

This backdrop has powered a radio resurgence among new industry entrants spotting untapped potential. Direct Digital Holdings, which went public in 2022, and focuses on bringing digital marketing services to the marketplace.

Direct Digital believes this digital model can drive growth even as terrestrial broadcasting plateaus. The company aims to capture ad budgets shifting online through its provision of website, social media and other digital services to small businesses alongside traditional radio spots.

Another radio-centric new media play, Cumulus Media, is the country’s third largest radio broadcaster, reaching over 250 million monthly listeners nationwide. The company aims to grow by broadening its podcast portfolio and expanding digital marketing.

Cumulus sees its vast broadcast reach as a foundation to build a larger digital advertising presence. Its extensive owned-and-operated radio station network provides proprietary access to a loyal listener base that rivals tech platforms. The company is positioning itself as the radio industry’s digital transformation leader.

Radio’s resilience indicates it retains inherent competitive advantages that persist through technological changes. Broadcasters recognize and leverage their unique strengths even as they adapt business models. The localism and personality that define radio continue driving engagement.

Plus, radio’s cost structure is finely tuned after a century on the air. Mature players keep tight control of expenses and operate profitably on thinner margins than many digital media outlets. This helps incumbents squeeze more value from legacy radio as they make measured moves into emerging formats.

Investors must still approach new radio-centered media endeavors with eyes wide open. Industry ad revenues remain under pressure. Music streaming and podcasts pose competition for listeners’ time. Consolidation carries integration risks and may face regulatory hurdles.

But traditional radio has survived the disruptive forces that felled newspapers and gutted cable TV. This time-tested durability, combined with digital growth prospects, makes radio-oriented media a relatively bright spot for investors in a tumultuous industry.

Backed by resilient legacy radio assets and focused digital strategies, companies like Direct Digital and Cumulus Media, and many others, offer upside potential. Though uncertainty remains, their radio footholds provide a stable base absent in other legacy media formats ravaged by technological change.

For investors seeking growth media plays beyond tech giants, radio’s lingering relevance points to pockets of opportunity. New digital/broadcast hybrid models show promise for revitalizing radio’s mature but enduring advertising business. With the right vision and execution, radio-centric firms could unlock more value and continue this legacy medium’s surprising success story.

Take a look at more emerging media companies by taking a look at Noble Capital Markets’ Director of Research Michael Kupinski’s coverage universe.

Release – Snail Games’ ARKade Ambassador Program Reshapes Gaming Connections

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

January 3, 2024 at 4:06 PM EST

A Community Journey, 186M+ Minutes Strong

CULVER CITY, Calif., Jan. 03, 2024 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail” or “the Company”), a leading, global independent developer and publisher of interactive digital entertainment, introduced the ARKade Ambassador Program, an influencer community initiative designed to express gratitude to and foster connections among creators within the ARK community, alongside the launch of ARK Survival Ascended on Steam. The distinctive perspectives and insightful contributions of these creators have played a pivotal role in uncovering community insights and generating genuine feedback. This involvement has led to an impressive viewership of 186,509,155+ minutes of ARKade content, establishing a robust and captivated audience.

The success of ARKade has been further enhanced by the support of notable sponsors such as MadCatz, Streamlabs, and Glytch, who have generously sponsored ARKade prizes for streamers. These strategic collaborations not only elevate the experience for content creators but also opens the door for future collaborative opportunities as the ARK franchise continues to grow.

“We are thrilled with the enthusiastic response ARKade has received from both content creators and sponsors,” Jim Tsai, Chief Executive Officer of Snail, Inc. “The numbers speak for themselves, and the success of the ARKade Ambassador Program is a testament to the engaging and immersive nature of ARK Survival Ascended.”

Looking ahead, Snail Games is excited to build on this momentum, fostering new connections, and expanding collaborations with creators and brands as they continue to evolve the ARK franchise.

Checkout our ARKade Sponsors:
http://www.madcatz.com/
https://glytchenergy.com/
https://streamlabs.com/

About Snail, Inc.- https://www.snailgamesusa.com/
Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other game developers and publishers and both large and small, public and private Internet companies; its relationships with third-party platforms; expectations for future growth and performance; and assumptions underlying any of the foregoing.

Contacts:

Investors:
investors@snail.com

Press:
Media@snailgamesusa.com

Release – GameSquare Completes the Sale of Its Non-Core Radio Business Assets

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GAME

January 2, 2024

Sale Adds Non-Dilutive Capital and Supports GameSquare’s Focus on Marketing Technology Capabilities

GameSquare Refinances Convertible Debenture

FRISCO, TX / ACCESSWIRE / January 2, 2024 / GameSquare Holdings, Inc. (“GameSquare”) (NASDAQ:GAME)(TSXV:GAME), announces that it has completed the sale of its Frankly non-core radio business assets to SoCast, Inc. (“SoCast”). As a result of the US$3.4 million asset sale, GameSquare has added non-dilutive capital to its balance sheet. GameSquare also announced today that it has further strengthened its balance sheet by refinancing the Company’s convertible debt.

“After completing four acquisitions in under three years, we believe there are opportunities to streamline our operations, enhance our cost structure and add non-dilutive capital to support our business by unlocking the value of certain non-core assets such as the radio assets of Frankly,” noted Justin Kenna, CEO of GameSquare. “In addition, selling just the radio assets of Frankly at approximately 1.8x trailing 12-month sales, compared to GameSquare’s current market cap of approximately 0.4x trailing 12-month sales, supports our strategies to unlock and drive value for our shareholders.”

Convertible Debenture Refinancing
GameSquare has retired a principal amount US$5 million debenture that was due to mature in February of 2024, and replaced it with a principal US$5.8 million convertible note issued to an arm’s length party that bears interest at 12.75%, has a two-year term, and is convertible at the holder’s option into common shares of Company at a price of US$5 per share (subject to standard anti-dilution provisions). The issuance of the debenture has been conditionally approved by the TSX Venture Exchange.

Mr. Kenna continued, “I am also pleased to announce the successful refinancing of our convertible debt. As a result of today’s announcements, we have further strengthened our balance sheet and working capital position, providing us with greater flexibility to invest in our growth initiatives.”

The asset acquisition adds thousands of broadcast professional users to SoCast, and oncoming clients will benefit from the ecosystem of radio specific digital products that SoCast has to offer within one dashboard. “SoCast is dedicated to helping radio broadcasters transform into digital businesses. This acquisition increases the impact of our R&D footprint in the industry and bolsters our vision to be the leader in the space,” said Elliott Hurst, CEO.

About GameSquare Holdings, Inc.
GameSquare Holdings, Inc. (NASDAQ: GAME | TSXV: GAME) is a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audiences. GameSquare’s end-to-end platform includes GCN, a digital media company focused on gaming and esports audiences, Cut+Sew (Zoned), a gaming and lifestyle marketing agency, Code Red Esports Ltd., a UK based esports talent agency, Complexity Gaming, a leading esports organization, Fourth Frame Studios, a creative production studio, Mission Supply, a merchandise and consumer products business, Frankly Media, a provider of programmatic advertising and media distribution applications, Stream Hatchet, a provider of live streaming analytics services, and Sideqik a social influencer marketing platform. For more information visit www.gamesquare.com.

About SoCast, Inc.
SoCast Inc. is a Toronto-based privately owned Canadian based digital marketing and technology company that makes digital easy for broadcasters. SoCast will now power more than 2,500 radio brands across the globe with more than 250 million people visiting a SoCast website each year. Combining a digital first mentality with radio industry knowledge, SoCast Engage provides ground-breaking websites, apps, contests, and content tools and services that clients rely upon to do their daily jobs. The SoCast Reach platform integrates sales, billing and finance into one programmatic advertising dashboard that helps broadcasters transform into digital businesses. For more information visit www.socastdigital.com.

Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian and United States securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the closing of the proposed transaction, the Company’s future performance and revenue; the Company’s ability to execute its business plan; and the proposed use of net proceeds of the transaction. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company being able to grow its business and being able to execute on its business plan, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties including impact of the COVID-19 pandemic and any variants. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Corporate Contact
Lou Schwartz, President
Phone: (216) 464-6400
Email: ir@gamesquare.com

Investor Relations
Andrew Berger
Phone: (216) 464-6400
Email: ir@gamesquare.com

Media Relations
Chelsey Northern / The Untold
Phone: (254) 855-4028
Email: pr@gamesquare.com

SOURCE: GameSquare Holdings, Inc.

Salem Media Group (SALM) – Taking Serious Steps To Reduce Costs

Posted on by cpereira@noblefcm.com


Tuesday, January 02, 2024

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Delist and Deregister. The company announced that its Special Committee recommended to delist its shares on the Nasdaq Global Market and to deregister the Class A shares with the SEC, reversing its intent to stay the suspension of its shares from being delisted. The delisting is expected to become effective Jan. 18, 2024, at which time, the company plans that it shares will be quoted on the OTCQX or other market operated by OTC Markets Group. 

Significant savings. Given the move to delist, the company will no longer be required to publish a quarterly 10Q and host quarterly investor calls. We estimate that the move to delist and deregister its shares will save the company over $1.2 million annually. 


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Salem Media Group Announces Voluntary Delisting from the Nasdaq Global Market

Posted on by aweinsoff@channelchek.com

Research New and Market Data on SALM

December 29, 2023 12:11pm EST

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (the “Company”) (NASDAQ: SALM) announced today that it has given formal notice to the Nasdaq Stock Market of its intention to voluntarily delist its Class A Common Stock from the Nasdaq Global Market and to deregister its Class A Common Stock under Section 12(b) of the Securities Exchange Act of 1934 (the “Exchange Act”).

The Company currently anticipates that it will file with the Securities and Exchange Commission (the “SEC”) a Form 25 (Notification of Removal of Listing) on or about January 8, 2024, with the delisting of its Class A Common Stock taking effect no earlier than ten days thereafter. As a result, the Company expects that the last trading day of its common stock on the Nasdaq Global Market will be on or about January 18, 2024. Further, prior to March 29, 2024, the Company intends to file a Form 15 with the SEC to suspend the Company’s reporting obligations under Sections 12(g) and 15(d) of the Exchange Act.

The Company anticipates significant financial savings as a result of this decision. In addition, delisting and deregistration provide several benefits to the Company and its stockholders including lower operating costs and reduced management time commitment for compliance and reporting activities.

The Company anticipates that its Class A Common Stock will be quoted on the OTCQX or other market operated by OTC Markets Group Inc. (the “OTC”), and it intends to take such actions to enable its Class A Common Stock to be quoted on the OTCQX or on another OTC market so that a trading market may continue to exist for its Class A Common Stock. The Company expects its Class A Common Stock to be quoted on the OTCQX Market beginning on or around January 19, 2024, pending approval by OTC Markets.

FORWARD-LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements, including statements regarding the expected timing and process for delisting and deregistering the Company’s Class A Common Stock, are based upon current plans, estimates and expectations of management that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, but not limited to, the Company’s ability to facilitate the quoting of its Class A Common Stock on the OTCQX or another OTC market, and other important factors discussed in the Company’s reports on Forms 10-K, 10-Q, 8-K and other filings filed with or furnished to the SEC. Readers are urged to consider these factors carefully and in the totality of the circumstances when evaluating these forward-looking statements, and not to place undue reliance on any of them. Any such forward-looking statements represent management’s reasonable estimates and beliefs as of the date of this press release. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231229938490/en/

Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Released December 29, 2023

Release – Salem Media Group Announces New Revolving Credit Facility with Siena Lending Group

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SALM

December 27, 2023 12:01pm EST

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that it has closed a new $26.0 million 3-year asset-based revolving credit facility with Siena Lending Group (the “New Revolving Facility”), which refinanced its prior revolving facility with Wells Fargo Bank.

Obligations under the New Revolving Facility are secured by a first-priority lien on the Company’s and its subsidiaries’ accounts receivable, inventory, deposit and securities accounts, certain real estate and related assets, and a second-priority lien on substantially all other assets of the Company and its subsidiaries.

FORWARD LOOKING STATEMENTS:

Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties, including but not limited to our ability to close and integrate announced transactions, market acceptance of our radio station formats, competition from new technologies, inflation and other adverse economic conditions, and other risks and uncertainties detailed from time to time in our reports on Forms 10-K, 10-Q, 8-K and other filings filed with or furnished to the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231226399648/en/

Company Contact:
Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Released December 27, 2023

Release – Salem Media Group Announces the Sale of Regnery Publishing

Posted on by aweinsoff@channelchek.com

Research New and Market Data on SALM

December 26, 2023 12:56pm EST

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that it has reached an agreement with Skyhorse Publishing to sell Regnery Publishing. The company expects to close the transaction by the end of the year.

David Evans, Chief Operating Officer of Salem Media, said, “We are thrilled to pass the torch of the oldest and most respected conservative publishing company in America to Free Speech advocate Tony Lyons and his incredibly successful Skyhorse Publishing. Salem is committed to the dissemination of conservative ideas and is excited that Skyhorse will both be a powerful steward of this important brand and an engine for its future growth.”

Tony Lyons, President and Publisher of Skyhorse Publishing, added, “We are so pleased to acquire this legendary publishing company, founded over 75 years ago, and are committed to building on the strong foundation that the Regnery staff has developed. We see a lot of synergies and opportunities for growth and will work hard to promote, market, and sell the books we have acquired and those that are pending, as well as to develop and pursue exciting new projects. Regnery will be an imprint of Skyhorse Publishing and will maintain its own identity.”

The more than 1,500 Regnery titles will be absorbed into the Skyhorse Publishing catalogue. The former Washington D.C. based publishing house was founded in 1947 by Henry Regnery and acquired an impressive list of authors over its 75 years, including former President Donald Trump, Senator Rand Paul, Senator Ted Cruz, Senator Mitt Romney, Tulsi Gabbard, Eric Metaxas, former President Ronald Regan, and Ann Coulter.

ABOUT SKYHORSE PUBLISHING:

Skyhorse Publishing, one of the largest independent book publishers in the United States, was launched in September 2006 by Tony Lyons, former president and publisher of the Lyons Press. The company has had fifty-seven New York Times bestsellers and currently has over 10,000 titles in print.

Skyhorse maintains a firm stance against censorship and aims to provide a full spectrum of political, theological, cultural, and philosophical viewpoints to counter the increasingly biased environment in mainstream media.

Through its twenty imprints, Skyhorse publishes an eclectic and maverick list of titles. Its imprints — Allworth Press, Arcade Crime Wise, Arcade Publishing, Carrel Books, Children’s Health Defense, Clydesdale Press, Front Page Detectives, Good Books, Helios Press, Hot Books, Night Shade Books, Not For Tourists, Racehorse For Young Readers, Racehorse Publishing, Sky Pony Press, Sports Publishing, Talos Press, Yucca Publishing, Skyhorse Publishing, and World Almanac — cover everything from nature, sports, country living, history, reference, travel, humor, health, art, business, philosophy, religion, current events, politics, investigative and conspiracy, to fiction, literary nonfiction, science fiction, fantasy, and young adult and children’s literature. Its backlist includes more than ten thousand titles. Skyhorse is distributed by Simon & Schuster in the U.S. and abroad.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231222615634/en/

Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Released December 26, 2023

Entravision Communications (EVC) – Highlights From Noblecon19; Improving Margins Expected in 2024

Posted on by cpereira@noblefcm.com


Thursday, December 21, 2023

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noblecon19. On December 4th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The presentation conducted by Chris Young, Chief Financial Officer, highlighted the company’s digital growth initiatives, its strong and improving balance sheet and favorable industry undercurrents. A replay of the presentation can be viewed here: https://www.channelchek.com/videos/entravision-communications-noblecon19-replay. 

Digital growth. On a trailing twelve-month basis from Q3, digital revenue comprised 82% of total revenue, and its operations spanned 40 countries. From 2019 to 2022, total company revenue grew at a 52% CAGR, a result of its fast growing digital businesses. Notably, the company is focused on improving digital margins after Facebook reduced commissions from 10% to 7%.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

E.W. Scripps (SSP) – Highlights From Noblecon19: An Improving Fundamental Story For 2024

Posted on by cpereira@noblefcm.com


Wednesday, December 20, 2023

The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation’s largest holder of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, “Give light and the people will find their own way.”

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noblecon19. On December 4th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The fireside chat presentation conducted by Lisa Knutson, Chief Operating Officer, highlighted the dynamic value proposition of Scripps Sports, favorable retransmission trends, implications of the Disney/Charter deal and green shoots in advertising. A replay of the presentation can be viewed here: https://www.channelchek.com/videos/e-w-scripps-noblecon19-replay. 

Favorable sports model. Scripps Sports employs a unique model that offers sports teams wider viewership than the traditional Regional Sports Networks (RSNs) model that is now failing. Management indicated that its two NHL sports licenses for the Arizona Coyotes and the Vegas Golden Knights will account for a 4% point increase in its core advertising in Q4 and 3% for full year 2024.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Cumulus Media (CMLS) – Highlights From Noblecon19: A National Recovery Play

Posted on by cpereira@noblefcm.com


Tuesday, December 19, 2023

Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 406 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noblecon19. On December 4th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The presentation conducted by Frank Lopez-Balboa, CFO, highlighted the company’s digital growth initiatives, debt reduction focus and provided insight into the current advertising environment. A replay of the presentation can be viewed here: https://www.channelchek.com/videos/cumulus-media-noblecon19-replay.

Digital growth initiatives. Management highlighted its digital growth strategy and key drivers for podcasting and digital marketing services (DMS) growth. Importantly, 50% of digital revenues are derived from national adverting, thus an improvement in the national advertising environment would positively impact digital revenue. Notably, the company has increased its focus on growing its hyper-local Digital Marketing Services business, a development we view favorably.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

AdTheorent (ADTH) – Highlights From Noblecon19: A Swing Towards Growth

Posted on by cpereira@noblefcm.com


Tuesday, December 19, 2023

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noblecon19. On December 4th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The presentation conducted by Patrick Elliott highlighted the company’s award winning machine learning technology and sizeable opportunities for company growth. A replay of the presentation can be viewed at: https://www.channelchek.com/videos/adtheorent-noblecon19-replay. 

Favorable growth trends. The company is experiencing a number of favorable growth trends. Notably, the company’s self-service platform was its fastest growing product offering in 2023 and is expected to be a significant driver of growth in 2024. Additionally, the company is well positioned to benefit from the growing usage of Connected TV (CTV) and has sizeable room for growth in its healthcare vertical.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Townsquare Media (TSQ) – Highlights From Noblecon19; Compelling Total Return Vehicle

Posted on by cpereira@noblefcm.com


Friday, December 15, 2023

Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noblecon19 highlights. On December 5th, management presented at Noblecon19 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. The presentation conducted by Stuart Rosenstein, CFO, and Claire Yenicay, VP Business Development, highlighted the company’s strong cash flow generating ability of its hyper-local digital and legacy broadcast radio businesses. Notably, the company stands to benefit from high margin political revenue and prospective improved advertising environment in 2024.

Digital growth engine. The company is focused on growing its digital businesses, which have been a catalyst for revenue and cash flow growth for the past several years. In Q3 digital revenues accounted for 52% of total company revenue, and are anticipated to account for a greater percentage in the future. Notably, the company’s fastest growing business segment, programmatic advertising, is benefitting from the rising popularity of CTV.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.