Tag: Media and Entertainment

Travelzoo (TZOO) – Entering A More Normalized Growth Period

Posted on by cpereira@noblefcm.com


Wednesday, October 25, 2023

Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

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.

Upside surprise. Q3 revenue of $20.6 million, which increased 30.0% year over year, was better than our $18.9 million estimate and reflected strong revenue growth in its Europe operations (+35.5%) and North America (+27.4%). Q3 adj. EBITDA beat expectations, $3.9 million versus our $3.1 million estimate. 

Margin improvement. Adj. EBITDA margins were 18.7%, up significantly from the year earlier margins of 7.1%, reflecting the improved revenue performance and the company’s diligence on keeping costs low and its earlier significant cuts in its infrastructure footprint.    


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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. 

Direct Digital Holdings (DRCT) – Investor Meeting Highlights

Posted on by cpereira@noblefcm.com


Monday, October 23, 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.

Highlights from investor meetings. This report provides highlights from a non-deal roadshow with investors last week in New York, Miami, and Boca Raton with Keith Smith, Co-Founder and President, and Diana Diaz, Chief Financial Officer. 

Reiterating full year guidance. Management appeared sanguine about at least hitting expectations on revenue and operating cash flow (adj. EBITDA) for the full year 2023. Revenues are expected to increase roughly 43% to $128.1 million, in line with management’s guidance. Adj. EBITDA in 2023 is expected to be $9.0 million, growing 25% to $11.3 million in 2024.  


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. 

Release – Bowlero Completes $432.9 Million Sale-Leaseback With Vici Properties

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BOWL

10/19/2023

Significant Capital Raise will be Used to Continue Growth Plan

RICHMOND, Va.–(BUSINESS WIRE)– Bowlero Corp. (NYSE: BOWL) (“Bowlero”), the global leader in bowling entertainment, today completed a transaction with VICI Properties Inc. (“VICI”) relating to the transfer of land and real estate assets of 38 Bowling Entertainment Centers across 17 states for aggregate value of $432.9 million. The transaction was structured as a tax-deferred capital contribution, and proceeds are expected to be used to accelerate new builds, deploy capital into acquisitions and conversions, return capital to shareholders, pay down a portion of Bowlero’s debt, and for general corporate purposes.

Bowlero entered into a triple-net master lease agreement with VICI (the “Lease”). The Lease will have an initial total annual rent of $31.6 million, representing an acquisition cap rate of 7.3%, and an initial term of 25 years, with six 5-year tenant renewal options. Rent under the Lease will escalate at the greater of 2.0% or CPI (subject to a 2.5% ceiling). Bowlero expects the Lease to be treated as a long-term lease obligation with no effect on EBITDA.

Thomas Shannon, Chairman, Founder and CEO of Bowlero, said, “This transaction marks the beginning of a long-term, valuable partnership with VICI. John, David and team have been fantastic partners, and the support of VICI’s capital gives us the firepower to continue advancing our strategic directives. We look forward to growing the relationship over the coming years.”

Brett Parker, Executive Vice Chairman of Bowlero, said, “We are executing on accretive strategies that drive our growth. With this transaction, we also extended the duration and diversified the sources of our capital, strengthening our overall financial position. Bowlero has a long runway of opportunities with returns far in excess of our cost of capital across all growth vectors in the bowling entertainment space. We look forward to investing in additional opportunities to move our business forward and will continue to utilize sale-leasebacks to drive growth at an efficient cost of capital.”

Wells Fargo acted as exclusive financial advisor and Jones Day served as legal advisor to Bowlero on the transaction.

About Bowlero Corp.

Bowlero is the global leader in bowling entertainment. With approximately 350 bowling centers across North America, Bowlero serves more than 30 million guests each year through a family of brands that includes Bowlero, Lucky Strike, AMF and Bowl America. 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 words such as “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 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:
Bowlero Corp. Public Relations
PR@BowleroCorp.com

For Investors:
Bowlero Corp. Investor Relations
IRSupport@BowleroCorp.com

Source: Bowlero Corp

Release – Direct Digital Holdings to Report Third Quarter 2023 Financial Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DRCT

October 19, 2023 9:00am EDT

HOUSTON, Oct. 19, 2023 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Huddled Masses LLC (“Huddled Masses”) and Orange142, LLC (“Orange142”), today announced that the Company will report financial results for the third quarter of fiscal year 2023 ended September 30, 2023 on Thursday, November 9, 2023 after the U.S. stock market closes.

Management will host a conference call and webcast on the same day at 5:00 PM ET to discuss the results. The live webcast and replay can be accessed at https://ir.directdigitalholdings.com/.

About Direct Digital Holdings

Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions manage on average over 136,000 clients monthly, generating approximately 250 billion impressions per month across display, CTV, in-app and other media channels.

Contacts:
Investors:
Brett Milotte, ICR
Brett.Milotte@icrinc.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/direct-digital-holdings-to-report-third-quarter-2023-financial-results-301961236.html

SOURCE Direct Digital Holdings

Released October 19, 2023

Release – Direct Digital Holdings Appoints Diana Diaz as Chief Financial Officer

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DRCT

October 18, 2023 9:00am EDT

HOUSTON, Oct. 18, 2023 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Huddled Masses LLC (“Huddled Masses”) and Orange142, LLC (“Orange142”), today announced that the Company appointed Diana Diaz, who had been serving as the Company’s interim Chief Financial Officer, as permanent Chief Financial Officer, effective October 16, 2023.

Ms. Diaz served as interim Chief Financial Officer of Direct Digital Holdings beginning June 5, 2023. As permanent Chief Financial Officer, she will continue to lead the Company’s finance, accounting and treasury organization and report directly to the Company’s Chief Executive Officer.

Mark D. Walker, Chairman and Chief Executive Officer, commented, “We are grateful for the hard work and dedication Diana has provided our team over the past several months and greatly excited to appoint her as our permanent Chief Financial Officer. She has been a trusted partner and an excellent leader of our finance division. With the help of her leadership and financial acumen, we are now more confident than ever in our team’s ability to execute our various strategies for growth in the coming months and years.”

Ms. Diaz joined the Company from Sharps Compliance Corp. (previously Nasdaq listed (SMED)) until its acquisition, a leading national healthcare waste management provider to customers in multiple healthcare-related markets, specializing in regulated waste streams including medical, pharmaceutical and hazardous, where she served for a total of 13 years, including as Vice President and Chief Financial Officer from June 2010 to February 2022. Ms. Diaz’s prior positions include Chief Financial Officer of University General Hospital in Houston, Texas from September 2006 to May 2009, Controller at Memorial Hermann Healthcare System, Texas Medical Center from September 2002 to August 2006 and Controller of the wholesale group at Reliant Energy from July 1998 to May 2002. Ms. Diaz received her BBA in Accounting from The University of Texas at Austin and her MBA from Rice University’s Jesse H. Jones Graduate School of Management.

Ms. Diaz said of her appointment, “This is a very exciting time to have joined Direct Digital Holdings. As Chief Financial Officer, I will continue to work closely with my fellow executive team members to capitalize on the Company’s strategic position and current favorable market dynamics to continue our growth. I am grateful for this appointment and look forward to continuing my work with this incredible team.”

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and which are subject to certain risks, trends and uncertainties.

As used below, “we,” “us,” and “our” refer to the Company. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements.

All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Our forward-looking statements are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. Although we believe that these forward-looking statements are based on reasonable assumptions, many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements, including, but not limited to: our dependence on the overall demand for advertising, which could be influenced by economic downturns; any slow-down or unanticipated development in the market for programmatic advertising campaigns; the effects of health epidemics; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; any unavailability or non-performance of the non-proprietary technology, software, products and services that we use; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; any inability to compete in our intensely competitive market; any significant fluctuations caused by our high customer concentration; our limited operating history, which could result in our past results not being indicative of future operating performance; any violation of legal and regulatory requirements or any misconduct by our employees, subcontractors, agents or business partners; any strain on our resources, diversion of our management’s attention or impact on our ability to attract and retain qualified board members as a result of being a public company; our dependence, as a holding company, on receiving distributions from Direct Digital Holdings, LLC to pay our taxes, expenses and dividends; and other factors and assumptions discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” and other sections of our filings with the Securities and Exchange Commission that we make from time to time. Should one or more of these risks or uncertainties materialize or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this press release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions manage on average over 136,000 clients monthly, generating approximately 250 billion impressions per month across display, CTV, in-app and other media channels.

Contacts:
Investors:
Brett Milotte, ICR
Brett.Milotte@icrinc.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/direct-digital-holdings-appoints-diana-diaz-as-chief-financial-officer-301959858.html

SOURCE Direct Digital Holdings

Released October 18, 2023

Release – Gray Sets Date for Third Quarter Earnings Release and Earnings Conference Call

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GTN

Atlanta, Georgia – October 17, 2023 . . . Gray Television, Inc. (NYSE: GTN) today

announced that it will release its earnings results for the quarter ended, September 30, 2023 on

Wednesday, November 8, 2023.

Earnings Conference Call Information

Gray Television, Inc. will host a conference call to discuss its operating results for the

quarter ended September 30, 2023, on Wednesday, November 8, 2023. The call will begin at

11:00 a.m. Eastern Time. The live dial-in number is 1-800-285-6670. The call will be webcast

live and available for replay at www.gray.tv. The taped replay of the conference call will be

available at 1-888-556-3470 Passcode: 898476# until December 8, 2023.

About Gray:

Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. Gray

is the nation’s largest owner of top-rated local television stations and digital assets in the United

States. Its television stations serve 113 television markets that collectively reach approximately

36 percent of US television households. This portfolio includes 80 markets with the top-rated

television station and 102 markets with the first and/or second highest rated television station. It

also owns video program companies Raycom Sports, Tupelo Media Group, and PowerNation

Studios, as well as the studio production facilities Assembly Atlanta and Third Rail Studios.

Gray owns a majority interest in Swirl Films. For more information, please visit www.gray.tv.

Gray Contacts:

Jim Ryan, Executive Vice President, and Chief Financial Officer, 404-504-9828

Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333

Release – RNC to Partner with NBC News, Salem Radio Network, Republican Jewish Coalition, and Rumble for Third Republican Presidential Primary Debate in Miami

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SALM

 Download as PDFOctober 16, 2023 8:15am EDT

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that the Republican National Committee (RNC) has selected NBC News, Salem Radio Network, the Republican Jewish Coalition, and Rumble as partners for the third Republican presidential primary debate, which will take place at the Adrienne Arsht Center for the Performing Arts of Miami-Dade County on November 8, 2023. As with the first and second debates, Rumble will be the exclusive RNC livestream provider and the RNC’s exclusive online home for the third debate.

“I am eager to announce that the RNC has selected NBC News, Salem Radio Network, the Republican Jewish Coalition, and Rumble as our partners for the third Republican primary debate in Miami. The partners for our third debate will offer our candidates an excellent opportunity to meet the moment and contrast their plans and vision with the failures of the Biden White House.” – RNC Chairwoman Ronna McDaniel

“NBC News has a long history of fostering conversations with the leaders that seek to shape domestic politics and foreign policy. For us, there is no higher responsibility. We look forward to continuing our leading reporting on the 2024 presidential race and spotlighting the issues that matter most to voters as they head to the polls.” – Rebecca Blumenstein, President of NBC News Editorial

“Salem Media Group and the Salem Radio Network are honored to be chosen by the Republican National Committee to be a part of this historic Republican presidential primary debate. Salem is an experienced partner of the RNC, having co-moderated four RNC debates in 2015-2016. We look forward to working closely with NBC News and other selected partners to deliver an event that will shine a light on the candidates and educate voters ahead of the primary.”– David Santrella, Salem Media Group CEO

“We are honored to partner with the RNC in the upcoming GOP Presidential debate. As the horrific events of the last week have unfolded in Israel, the issue of American foreign policy has taken on an even greater role. American strength and American resolve – and our candidates’ vision for America’s role in the world – are more important than ever.” – RJC Chairman, Sen. Norm Coleman

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/20231016018491/en/

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

Source: Salem Media Group, Inc.

Released October 16, 2023

Release – Salem Media Group’s La Nueva Poderosa 670 AM Partners with The Weather Channel en Español

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SALM

 Download as PDFOctober 12, 2023 6:00am EDT

The Partnership Will Provide Daily Expert Weather Forecasts & Extreme Weather Warnings to South Florida Hispanics

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that La Nueva Poderosa 670 AM in Miami and The Weather Channel en Español have entered into a strategic partnership that will enhance weather coverage and climate reporting in Spanish, specifically curated for South Florida.

La Nueva Poderosa, South Florida’s leading Spanish-language, news/talk radio station in Miami, will broadcast the Weather Channel forecasts twice a day with additional reporting and expert interviews during critical weather. The Weather Channel en Español reports will feature its diverse team of award-winning meteorologists and its exceptional behind-the-scenes production/news gathering team. The Weather Channel en Español’s forecasts will also air on Salem Media Group’s Radio Oasis 990 AM in Miami.

The content will also be distributed on La Nueva Poderosa’s website www.lapoderosa.com, Radio Oasis’ website www.oasisradiomiami.com and the stations’ apps and social media platforms.

ABOUT LA NEUVA PODEROSA 670 AM:

La Nueva Poderosa 670 AM, a Salem Media Group station, has been a trusted stalwart of the South Florida community for 25 years, transmitting 50,000 kilowatts over South Florida and the Caribbean. Streaming online 24 hours a day, it also boasts a worldwide audience. For decades, La Nueva Poderosa has been the station that South Florida Hispanics turn to as the hub of information and the latest local, national, and international news and opinions. Its emphasis on listener participation, expert interviews and around-the-clock news updates makes La Neva Poderosa 670 the go-to source for South Florida’s very diverse Hispanic community. La Nueva Poderosa simulcasts on WWFE 670 AM, WRHC 1550 AM, and 103.1 FM.

ABOUT THE WEATHER CHANNEL en ESPANOL:

The Weather Channel en Español network is the first 24/7 Spanish-language free-streaming weather news network in the United States, providing weather coverage and news across the U.S., the Caribbean and Latin America. The network is 100% free and available across over-the-top streaming platforms. Outside of live broadcasts, the new network features original content that adds value to the viewer’s experience with programming that provides interesting and unexpected views into the world of weather, climate change and more.

The Weather Channel en Español is available on The Weather Channel streaming app and Allen Media Group’s Local Now, Sports.TV and theGrio. TWCE is also available on Roku Channel, YouTube TV, Hulu+LIVE TV, Redbox, Verizon Fios, FuboTV, Xumo Play, Plex, FreeCast, Canela.TV, and the Audacy app.

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, Facebook and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230919243663/en/

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

Source: Salem Media Group, Inc.

Released October 12, 2023

Release – Snail Games USA and Angela Game Settle Myth of Empires Trade Secret and Copyright Allegations

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

October 11, 2023 at 4:00 AM EDT

PDF Version

Under the Agreement Snail Games Will Partner With Angela Game to Distribute Myth of Empires on Digital and Retail Platforms

CULVER CITY, Calif., Oct. 11, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment and video game software, along with its subsidiary Studio Wildcard, has officially disclosed a settlement agreement with Suzhou Angela Online Game Technology Co., Ltd (“Angela”) and Imperium Interactive Entertainment Limited (“Imperium”). The settlement marks the resolution of copyright and trade secret litigation concerning Myth of Empires (MoE) and includes ongoing royalty payments of Myth of Empires from Angela to Snail, while Snail assists the distribution of Myth of Empires. While details of the Settlement and Release Agreement remain confidential, the parties jointly announced the resolution of their disputes and Snail Games’s cooperation with Angela in the distribution of Myth of Empires going forward.

The original legal complaint can be found HERE:
https://casetext.com/case/suzhou-angela-online-game-tech-co-v-snail-games-us-inc-3/
Full title: Suzhou Angela Online Game Technology Co., Ltd. et al. v. Snail Games USA…
Court: United States District Court, Central District of California

“Following nearly two years of litigation, we are pleased to announce this settlement agreement for Snail, Angela, and Studio Wildcard. Angela acknowledges that it caused difficulties for Snail’s business. By working together, Angela and Snail will put those difficulties behind them. Angela regrets any difficulties it caused Snail and looks forward to moving into this business partnership. At the same time we hope that, with Snail’s extensive user resources and excellent platform relationships built on ARK, they can assist us in our future publishing efforts, injecting greater market vitality into Myth of Empires,” said Yi Ling Zheng, President, Angela Game.

“We are pleased to announce this settlement agreement and facilitate the re-release of Myth of Empires which benefits both parties and opens up additional revenue streams for us through the partnership with Angela,” said Doug Kennedy, Co-founder of Studio Wildcard.

This is pursuant to the terms of the settlement, Snail Games will withdraw its DMCA Notice against Myth of Empires and work collaboratively with PC distribution platforms for a re-release of the game in early 2024. Additionally, Snail Games will partner on the global launch of MoE on both PlayStation and Microsoft platforms in early 2024 and will assist in public relations, marketing, and first party support for the game. Myth of Empires will be released by Angela and Snail Games both physically and digitally on console and PC. Angela Games will also develop a steady cadence of DLC and expansion packs for Myth of Empires, in partnership with Snail Games USA.

About Snail Games USA, Inc.

Snail Games 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.

About Angela Game

Founded in 2019, Angela Game is a developer devoted to creating next-generation multiplayer titles that feature profound realism and authenticity, immersive large-scale battles, and innovative gameplay.

Contacts:
Investors:
investors@snail.com

Release – Pinterest and Entravision Enter Into Global Partnership Deal

Posted on by aweinsoff@channelchek.com

Research News and Market Data on EVC

October 6, 2023

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Entravision will empower advertisers to capture audiences in Europe and the U.S.

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision, a global advertising solutions, media and technology company serving clients across more than 40 countries, has entered into an international sales partnership with Pinterest, the visual inspiration platform.

Through this partnership, Entravision will offer advertisers outreach and campaign management in various countries across Southeast Asia, Latin America, Africa, Europe, and the Middle East, where Pinterest is not currently serving ads, and will enable these advertisers to reach audiences where ads are served in Europe and the U.S.

Each month, hundreds of millions of people use Pinterest to discover products and services for their wardrobe, for their new home, for a fresh beauty look and much more. Advertisers want to be discovered during these planning moments, and there is a natural alignment with users who seek brands to inspire their next purchase. On Pinterest, advertisers can reach the consumers they care about and drive them from discovery to decision to do – all in a more positive place online.

“From awareness to consideration to conversion, we have the ideal ad solutions for our advertisers, up and down the funnel. We are driving more clicks, conversions, and better performance for our advertisers than ever and are thrilled to partner with Entravision to extend our ads offering to more brands around the world,” said Bill Watkins, Chief Revenue Officer at Pinterest.

“We are excited and look forward to Entravision and Pinterest uniting to deliver more value, engagement, and growth to Pinterest’s advertisers. Our solutions serve more than 8,000 brands every month and will enable advertisers to fully access Pinterest’s global audience,” said Michael Christenson, CEO of Entravision.

About Entravision

Entravision (NYSE: EVC) is a global advertising solutions, media and technology company. Over the past three decades, we have strategically evolved into a digital powerhouse, expertly connecting brands to consumers in the U.S., Latin America, Europe, Asia and Africa. Our digital segment, the company’s largest by revenue, offers a full suite of end-to-end advertising services in 40 countries. We have commercial partnerships with Meta, X Corp. (formerly known as Twitter), TikTok, and Spotify, and marketers can use our Smadex and other platforms to deliver targeted advertising to audiences around the globe. In the U.S., we maintain a diversified portfolio of television and radio stations that target Hispanic audiences and complement our global digital services. Entravision remains the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.

About Pinterest

Pinterest is the visual inspiration platform where people come to search, save, and shop the best ideas in the world for all of life’s moments. Whether it’s planning an outfit, trying a new beauty ritual, renovating a home, or discovering a new recipe, Pinterest is the best place to confidently go from inspiration to action. Headquartered in San Francisco, Pinterest launched in 2010 and has 465 million monthly active users worldwide. Available on iOS and Android, and at pinterest.com.

Press Contacts:
Bertha Merikanskas, EVP Global Communication
bertha.merikanskas@entravision.com
(305) 215-9652

Lei Sison, Marketing Manager, APAC
lei.sison@entravision.com
+(63) 917 500 2882

Investor Relations:
Addo Investor Relations
evc@addo.com
310-829-5400

Source: Entravision

Salem Media Group (SALM) – Substantially Improves Its Financial Health

Posted on by cpereira@noblefcm.com


Thursday, October 05, 2023

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.

Sells Church Products. On September 29, 2023, the company entered into an agreement to sell the Salem Church Products business to Gloo LLC for $22.5 million in cash and a promissory note in the principal amount of $7.5 million. Additionally, the company announced entering into membership unit purchase agreement with Gloo in exchange for an advertising credit. In our view, the sale is attractive and provides a timely influx of cash that assuages liquidity concerns.

Membership unit purchase agreement. As stipulated in the agreement, the company entered into a put agreement with Gloo Holdings for 833,333 series A membership units, which are redeemable after January 1, 2027 for a minimum price of  $10 million. In exchange for the units, the company will provide an advertising credit of $10 million to Gloo Holdings that expires on December 31, 2028.


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Release – Salem Media Group Announces Plan to Sell Its Salem Church Product Business

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SALM

October 04, 2023 9:00am EDT

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that it entered into an agreement to sell its Salem Church Products business to Gloo, LLC for $30 million. When the transaction closes, scheduled for November 1, the parties will also enter into a $10 million multi-year agreement for Salem to advertise the Gloo platform’s products and services across Salem’s radio and digital platform that serves the Christian audience.

Salem Church Products creates and distributes resources for churches and ministries in the areas of church media, worship, children’s ministry, preaching, teaching and employment through online resources including WorshipHouse Media, SermonSearch, ChurchStaffing, Children’s Ministry Deals and many others.

Salem’s Chief Operating Officer David Evans said, “We are proud of the Church Products business we have built over the years. What started with a single website – SermonSearch – has grown into a successful organization providing valuable resources and services to local churches and their pastors. Any time we look to sell a business, we look for organizations that share our passion and that can take that business to the next level. Gloo is just such an organization and we couldn’t be more thrilled.”

Scott Beck, Chief Executive Officer of Gloo, said, “Salem has been a tremendous partner for several years. We share their mission to equip and support the mission of the Church. Welcoming the Salem Church Products collection of brands to the Gloo platform will accelerate our ability to connect churches with a broad network of great products and producers in everything from Sunday weekend experiences, children’s resourcing, staffing and digital evangelism/discipleship. We are excited to support the Salem Church Products’ great leadership team as they accelerate their ability to serve and expand their network.”

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, Facebook and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231002251234/en/

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

Source: Salem Media Group, Inc.

Released October 4, 2023

Release – Snail, Inc. Launches Survivor Mercs with Twitch Integration in Early Access Today

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

September 14, 2023 at 4:57 PM EDT

CULVER CITY, Calif., Sept. 14, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment, has launched Survivor Mercs, an early access game on Steam with an innovative Twitch Integration through its indie publishing sub-label Wandering Wizard.

Survivor Mercs, is a roguelite military styled action game that blends the Bullet Heaven and extraction shooter genre for a challenging single-player experience enhanced by a first of its kind social element through its Twitch Integration. The motivation behind Survivor Merc’s Twitch Integration was to revolutionize social interaction in single-player games within the genre and style of the game, creating a more engaging experience for streamers and players.

With the Twitch Integration, streamers are empowered to connect with their audience. They can now invite their fan base to actively participate by voting on upgrades, selecting mercenaries, and even making cameo appearances as in-game adversaries.

This forward-thinking development not only enhances gameplay but also opens up a world of opportunities for streamers and gamers to connect.

Jim Tsai, Chief Executive Officer of Snail, commented: “With the growth of streaming platforms we are looking forward to additional innovations involving community and live gaming. We hope with this small step we can be a leader in streamer friendly games that pushes the boundaries of what is possible for audience participation. Snail Games continues to push the boundaries of what’s possible in the gaming industry by providing a new perspective to the Bullet Heaven genre of gaming via the streaming service development.”

Survivor Mercs can be purchased on the Steam store at https://store.steampowered.com/app/2141520/Survivor_Mercs/
More information on launch weekend promotions can be found at https://discord.gg/naZB3ANXjF

KEY FEATURES

  • Play the Genetic Lottery! Commanders are generated with three random traits, offering thousands of unique combinations for each run, resulting in distinct challenges and synergies.
  • Build Your Dream Team! Assemble a squad of diverse mercenaries, each with their own abilities, weapons, and behavior. Explore individual skill trees and synergies to unleash devastation on your enemies.
  • Loot, loot… and more loot! Navigate procedurally generated maps, complete objectives, and gather valuable loot, but beware of the ticking clock as every minute spawns stronger enemies.
  • Interactive Twitch Integrations: Have fun with your viewers! Stream the game with Twitch integration and let your audience decide your fate!
  • Extraction or Confrontation: Choose between calling for extraction and leaving with all your valuable loot or facing a formidable final boss for even greater rewards. Survive to keep your loot and earn bonuses for your next mission.
  • Build up your Bunker HQ: Invest your loot to hire new mercenaries, research gear, unlock upgrades, and enhance your commanders with new traits.
  • No Run is the Same! Mercenaries and Commander combinations offer unique playstyles. Experiment with various gear, traits and mercenary combinations as you play through procedurally generated maps for endless variety.
  • Additional Features: Full controller and keyboard/mouse support, personal accessibility settings, and compatibility with SteamDeck for portable gaming.

About Snail, Inc.

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, including the launch of ARK: Survival Ascended, ARK: The Animated Series and ARK 2; 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 such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, the Apple App Store, the Google Play Store, My Nintendo Store and the Amazon Appstore; expectations for future growth and performance; and assumptions underlying any of the foregoing.

Contacts:

Investors:
investors@snail.com