S P R I N G 2 0 1 8 · R B R .C O M · 1

The next several years will be very busy ones for the broadcast tower busi-ness. Thanks in large part to the “repack” process following the FCC’s spec-trum auction, TV broadcasting companies will be hyper-focused on making sure any migration of their signal is completed with no hiccups. At the same time, radio station owners are biting their nails over any impact TV’s repack will have on their FM broadcasts.

Helping to ensure a smooth repack migration for both TV and radio com-panies is a Boca Raton, Fla.-based company that has become a key player in the broadcast tower-leasing arena. In an exclusive interview with RBR+TVBR, Vertical Bridge VP/Broadcast Leasing Joe Meleski and co-founder Bernard Borghei, who serves as EVP/Operations, discuss the repack process and how it has impacted the company and its clients. Meleski and Borghei also touch on the impact — both positive and negative — of changing technologies, the voluntary roll-out of the next-generation TV standard known as ATSC 3.0, and their perspective on media broadcasting in the digital age.

I N S I D E

S P R I N G 2 0 1 8

BUILDING A BRIDGE WITH BROADCASTERS

By Editor- in-Chief Adam R. Jacobson (adam@rbr.com)

6 Tepid Trading: The New Normal? One year ago, brokers, industry observers and pundits predicted a robust trading cycle for radio and TV. Today, the end of the FCC’s incentive auction didn’t bring the bonanza of TV transactions many predicted. Radio deals are scattershot. What’s going on? That’s a question posed to some of the nation’s top media brokers.

15Is ‘OTT’ Media’s Obvious Trek to Tomorrow?Broadcast TV needs dependable technology to deliver more video streaming to the growing number of consumers who watch live and scheduled programming where and when they want. A Milan, Italy-based global video delivery network believes it has the tools to enter the U.S. marketplace.

10 The Push for EAS AccuracyAlabama is on the forefront of EAS preparedness, advancements and accuracy. In the Mountain West, Cherry Creek Radio Chief Engineer Gary Smith has been a leader in bringing life-saving messages to communities. They represent some of the broadcast industry’s leaders committed to preventing a snafu like that seen in Hawaii in January 2018.

13 Help From the CloudYou’ve just left the C-Suite, and your boss isn’t pleased. Costs are high, as are tempers, because your sales team, traffic manager and production department aren’t communicating. WAVSTAR seeks to erase this hypothetical situation from the radio industry.

Joe Meleski Bernard Borghei

Radio + Television Business ReportSTREAMLINE PUBLISHING Chairman: Eric RhoadsPublisher: Deborah ParentiEditor-in-Chief: Adam R JacobsonDirector of Administration: April McLynn

331 SE Mizner Blvd., Boca Raton, FL, 33432Phone: 561-655-8778

JUST CALL IT THE EFFECTTHE BIGGEST SONGWRITERS IN THE WORLD CALL ASCAP HOME

COLDPLAY

DADDYYANKEE

DEMILOVATO

REBAMCENTIRE

DUALIPA

CARDI B

MEGHANTRAINOR

CHRISSTAPLETON

KENDRICKLAMAR

S P R I N G 2 0 1 8 · R B R .C O M · 3

REPACK BANK REPLENISHMENTPerhaps the biggest question facing

broadcasters in the second quarter of 2018 is the post-spectrum auction’s repack process, and what the C-Suite at America’s TV companies needs to know in terms of reimbursement.

As RBR+TVBR went to press, the FCC signaled that the second tranche of reim-bursement funds for TV broadcasters could come in time for the 2018 NAB Show in Las Vegas, or by mid-April.

Borghei notes that 2017 saw the discus-sion of many scenarios on what broad-casters need to do. From the start of the fourth quarter of 2017 to today, “activity has really picked up,” he says. “We have a specific timeline and scheduled discussions with those impacted.”

Now, he says, project schedules have turned to budgets, and the appropriate reimbursement submissions are taking place.

Perhaps one of the biggest positives seen by Borghei is the shift from hesita-tion to confident action.

“There was some initial reluctance as soon as the auction was over, and that appears to have subsided,” he says. “Now, these operators are getting their engineer-ing hats on.”

For Vertical Bridge, this has resulted in a noticeable acceleration in activity. Borghei’s message to the media company that has been laissez-faire in its approach to the repack? Get serious now.

“Timelines matter, and you need to start planning budgets and secure a time slot, to get in on time,” he says of the need to ensure stations are able to find qualified vendor resources, given the market demands that will be seen from the phased transition the FCC has been discussing for months.

Meleski recalls the end of analog trans-missions for TV stations some nine years ago, and the undertaking that required from the engineering community.

“You had that big time span from 1997 to 2009, and all of those deadlines were not hit,” he recalls. “Now, another govern-ment-mandated deadline, and that initially created some anxiety.”

Now things are moving forward — and that anxiety is lower. Thank the FCC under the leadership of Chairman Ajit Pai for reducing the stress of broadcasters across the nation. “Things are actually happening on time, thanks to the FCC. The govern-ment has done what they said they’d do.”

In fact, broadcasters have seen Form 399 filings get initial reimbursements pro-cessed “as quick as 10 days.”

NEXT STEPS, WITH AN ‘AGNOSTIC’ TOUCH

With Capitol Broadcasting Co. taking the lead, ATSC 3.0’s voluntary roll-out is moving forward. It promises a crisp 4K picture — and better audio. For broadcast-

ers, there’s also the added benefit of data, and lots of it, to help harness new revenue streams.

Addressable advertising solutions beckon, and the possibilities for broadcast TV to fully compete with digital media — or perhaps best digital media at its own game — could have some operators sali-vating within years.

Bringing the next-gen TV standards to viewers certainly requires the efforts of companies such as Vertical Bridge. But when asked about their thoughts on the broadcast spectrum’s potential for things other than television, Borghei takes a step back.

“We are a real estate business, so we are technology agnostic,” he says. “But look-ing at the spectrum and the ways it can generate revenue for our tenants … that’s interesting for us. As our clients find ways to introduce new solutions and technolo-gies that require new types of equipment, we work to accommodate them and grow our business, respectively.”

As Borghei and Meleski prepared for the 2018 NAB Show in Las Vegas, they believe Vertical Bridge is poised to fully demon-strate that it understands what the broad-cast community seeks.

“Our portfolio is ready,” Borghei says. “We’ve upgraded our sites and spent money on addressing any physical issues we’ve found. We’re in a position to very expeditiously respond to any client needs. We’ve really perfected our engineering processes and procedures, and we’ve got great relationships.”

Meleski notes that his efforts will be focused on one important portion of the

tower leasing business: mom-and-pop broadcast companies. “We can serve those guys fast, and economically,” he boasts.

Then there are the big four networks and the leading station ownership groups in the television space. With Sinclair Broadcast Group’s merger with Tribune Media inching closer to regulatory approval as RBR+TVBR went to press, do Meleski and/or Borghei believe the deal market will be a healthy one following that transaction’s closing?

“We continue to look at the broadcast market,” Borghei says. “There are a lot of regional players who are healthy enough, but we are very disciplined and only make deals that make sense to us. We like what we like at the right price.”

With Meleski having joined Vertical Bridge in October 2017, he’s pleased to say that the transition into his role has been easy. And he’s been plenty busy. What’s the growth plan? Do potential clients come to Vertical Bridge, or does he have a pros-pect list and start making calls?

“I think a few years ago, when the busi-ness was stifled, you went looking for a leasing agreement,” he says. “Now, com-panies are looking to reduce their opera-tional expenses. We have done some cold calling, but we’re getting calls too.”

Meleski and Borghei are also aware of some of Vertical Bridge’s key competitors, namely American Tower Corp.

“We’re not egotistic people, and we respect them,” Borghei says. “Good com-petitors make us better. From our stand-point, no matter how big our portfolio gets, our culture, how we empower our people, and our processes and procedures allow us to stay a nimble and agile company.

“Also, we’re a well-capitalized privately held company that doesn’t have to worry about quarterly results; we’re always in a better position to react to our clients’ needs. It allows us to be faster, more flex-ible, and friendlier.”

A few weeks prior to Meleski and Borghei’s interview with RBR+TVBR, Vertical Bridge successfully issued $236 million of secured tower revenue notes. The offering was led by Barclays and Deutsche Bank, marking the third success-ful securitization in two years by Vertical Bridge.

Alex Gellman, Vertical Bridge’s CEO and co-founder, said the securitization “has a strong credit profile with long-term, con-tracted revenue and a diversified portfolio that speaks to the quality of our assets and the benefits we can offer tenants.”

Borghei comments on the securitization, “It’s a volatile market right now, and there is a lot of appetite for getting involved in the offering we put out there, backed by our assets. It was an extremely successful process for us.”

He continues, “We have a very active new build program across the country, and this is to accommodate further acquisi-

“There was some initial reluctance as soon as the auction was over, and that appears to have subsided. Now, these operators are getting their engineering hats on.” — Bernard Borghei

4 · R B R .C O M · S P R I N G 2 0 1 8

tions. That also feeds our ability to con-tinue to upgrade, augment and add capac-ity to our existing structures.”

TACKLING RADIO’S TOP NEEDSWhen asked what the biggest needs are

for radio broadcasters, Meleski doesn’t hesitate to answer. Like their TV brethren, the repack is a top concern.

“We work with those affected by the repack, and there are between 500 and 600 stations that are impacted by it,” he says.

There’s more and more digital talk, Meleski adds, noting that broadcasters haven’t forgotten about the continued potential of HD Radio for their AMs and FMs.

Is there one region of the U.S. where activity is the busiest?

Several, and all those areas experienced devastating natural disasters in 2017: California, Florida, Puerto Rico and the greater Houston area in Texas.

Vertical Bridge owns towers in all of these locales. And, in all of these areas, its towers withstood the storm. The problems were mainly associated with fiber, or a broken antenna, or a lack of electrical or generator power, Borghei says.

“We have a 650-foot tower in Cudjoe Key [Florida], and that tower stood … and that was the closest you could get to Hurricane

Irma,” he says. “In Puerto Rico a lot of antennas broke. The generators eventually ran out of fuel, and due to inaccessibility there was no fuel delivery and we couldn’t get cranes out there.”

Even if Puerto Rico’s problems were to magically disappear tomorrow, Borghei’s concern turns to the overhead power lines seen across the U.S. commonwealth.

“You’re only another disaster away from

losing it,” he says. “Everyone’s focus has been reconnecting the same connection, and with Puerto Rico’s financial situation there can’t be a discussion on another solution right now.”

THE PENDING ARRIVAL OF 5GAs the discussion concluded, the topic of

technological convergence came up. As the nation, and the FCC, look ahead to 5G wire-less connectivity, how will this impact — or benefit — the rollout of ATSC 3.0?

Meleski comments, “I think we are having a communications revolution. We almost have bi-directional content. All of those guys will need some sort of a real estate solution. It’s going to be healthy for all of those involved.”

Borghei adds, “It’s a new opportunity, and TV can start competing against what some of the wireless guys are going to do.”

On that note, Meleski observes, “We joke that you become a ‘smart asset’ because you know we have a ‘smart tower.’”

He may say this in jest today, but that may very well be the future of broadcast media. And Vertical Bridge will be an inte-gral part of ensuring consumers get the signals they need to power the audio and visual communications they need every minute of their lives.

“We’re a well-capitalized privately held company; we’re always in a better position to react to our clients’ needs. It allows us to be faster, more flexible, and friendlier” — Joe Meleski

With the largest broadcast tower portfolio in

the US, Vertical Bridge is committed to

helping Broadcasters advance the way

they deliver media content. We have the

assets in place to help with ATSC 3.0/

Next Gen TV, Repack transitions and interim

and auxiliary facilities.

Joe Meleski, Vice President Broadcast Leasing812.430.3551 jmeleski@verticalbridge.com

www.verticalbridge.com

Enabling Advancement for Broadcasters in

Content Delivery

2018 Vertical Bridge.indd 1 3/1/18 3:45 PM

6 · R B R .C O M · S P R I N G 2 0 1 8

First, it was the FCC’s incentive auction. Then, it was a sea change in Washington, fueled by the rise to FCC Chairman of Ajit Pai. One year ago, many brokers, industry observers and pundits predicted a robust trading cycle for radio and TV companies. Yet here we are in April 2018: The end of the FCC’s incentive auction didn’t bring the bonanza of TV transactions many predicted. Radio deals are scattershot. What’s going on?

That’s a question posed to some of the nation’s top media brokers since January, when Kalil & Co. VPs Fred Kalil and Lou McDermott trekked to Miami Beach to attend the increasingly important NATPE Miami TV industry conference.

“I expected a lot of activity post-auction,” McDermott readily admits. But that’s not to say that the FCC’s incen-tive auction, which saw several entities receive hundreds of millions of dollars for giving up valued spectrum to wireless communications companies, didn’t yield any business for Tucson-based Kalil & Co. or its competitors.

“Today all of the activity out there that we are involved in [for television] is a result of the auction,” McDermott says. “But I’m surprised there wasn’t a tsunami of deals.”

McDermott has a theory as to why this is the case. “Guys that didn’t get a golden ticket in the auction took a deep breath, and the potential sellers of those stations are reevaluating the space.”

After it is all over, the parties with sta-tions they didn’t expect to have today may believe that it may not be such a bad thing to keep some of them, rather than sell them for a sum far less than what the spectrum auction initially promised.

And McDermott is one of the many individuals who has not bought into “the death of terrestrial broadcasting” — espe-cially as ATSC 3.0 and the next-gen broad-

cast standard is voluntarily rolled out over the next several years.

As 2018 began, McDermott and Kalil noted that the brokerage was working on “a mix” of some top 25 deals. It had just served as the broker of record in the September 2017 sale of KTXD-47 in Dallas from London Broadcasting to Sinclair Broadcast Group shared services partner Cunningham Broadcasting, representing London.

Looking at the TV deal-making activity from the 30,000-foot level, one cannot ignore the rapid-fire acquisitions made by the Philip Falcone-led HC2 Holdings. The company has been quite the collector of

LPTVs since the end of the spectrum auc-tion, snagging stations in locales as dispa-rate as Philadelphia; Hartford-New Haven; Fort Wayne, Ind.; Austin; Phoenix; and San Diego. Most notably, HC2 acquired the Azteca América Spanish-language TV network in November 2017.

McDermott likes this activity, and believes it is a good signal that Hispanic TV has a vibrant road ahead. “I think the investment NBCUniversal is making in Telemundo, and Univision’s long record of success, all speak to the vibrant nature of that segment of the population,” he says. “There is a need to serve the Hispanic market with traditional broadcast media, as it is still the No. 1 way broadcasts are consumed.”

At the same time, both Fred Kalil and McDermott are well aware that “Over the Top” offerings are poised to capture and retain a wide group of consumers — should broadcasters not incorporate OTT into their business model.

“The hype around OTT products is real, and it is there,” Kalil says. But TV and radio are dismissed by Wall Street as “yesterday’s item,” he laments. This reinforces the continued need by industry leaders to demonstrate to the investment community (as well as Madison Avenue marketing and advertising executives) that TV is still the “most viable” form of communication.

Kalil is also keeping his eyes on the post-spectrum auction repack process, and when the dust settles will be inter-ested in seeing what the marketplace looks like. It won’t be a flood.

“The dam has not burst, but we are still seeing some jockeying for position,” he notes. “There are smaller players that are still building, adding one to two stations at a time. They are not cashing out.”

McDermott continues Kalil’s thoughts on TV station retention, commenting, “If

The end of the FCC’s incentive auction didn’t bring the bonanza of TV transactions many predicted. Radio deals are scattershot.

What’s going on?

Tepid Trading: The New Normal?

S P R I N G 2 0 1 8 · R B R .C O M · 7

you sell out, where are you going to get that strong return and get some bang for the buck? Successful stations throw off a lot of cash.”

A SEARCH FOR SCRIPPS LEADS RADIO ACTIVITY

When RBR+TVBR spoke with McDermott and Mr. Kalil, it was roughly one week prior to the announcement that The E.W. Scripps Co. plans to sell all 34 of its radio stations — and has retained Kalil & Co. to handle the process. The two brokers were asked about Scripps, and what the com-pany’s future in radio would look like.

McDermott noted, “A lot of buyers are looking at radio … probably more buyers than sellers. With the announcement of Cumulus Media working on their balance sheet, this solves one of the two major problems Wall Street seems to fixate on. Whatever happens there will be controlled and managed, and those assets will remain.”

In addition to the Scripps stations, McDermott sees Kalil & Co.’s radio indus-try activity and transactional increasing.

“Very, very strong interest is expressed to us on a daily basis from professionals who used to own stations and wish to get back in the business, in addition to own-ers who wish to add on to their current group,” he says. “That will increase over time.”

Greg Guy

Fred Kalil

Richard Forman Elliot Evers

Lou McDermott

8 · R B R .C O M · S P R I N G 2 0 1 8

Why? Once the financial issues at Cumulus have settled, and iHeartMedia works through its reorganization plan, McDermott believes that will add to the amount of deal-making.

Meanwhile, Fred Kalil said in January that perhaps two Top 25 radio groups would consider divesting all of their sta-tions, piecemeal. We know now that one is Scripps; speculation regarding the future of Emmis Communications has increased with the sale of its St. Louis stations.

A CAPITAL RENEWALOne broker who was integral in one

of 2017’s biggest transactions — the required divestments of radio stations from Entercom and CBS Radio in order to complete their Reverse Morris Trust-fueled merger — is MVP Capital Managing Director Elliot Evers.

The spin-offs and combination of the two radio industry entities fueled the year in deals for 2017, BIA/Kelsey data show. For radio, 179 more stations were sold in 2017 than 2016, for a total value increase of over $2.8 billion. The fuel behind the hot marketplace was Entercom’s acquisi-tion of CBS Radio.

Will we see more big deals, like the Entercom/CBS Radio merger, in 2018 and in the coming years?

“We think that is unlikely, at least in the radio industry, under the current rules,” Evers says. “Although many believe that iHeart and Cumulus will be active sellers as part of any reorganization, we think that is unlikely. Once their balance sheet issues are resolved, they really will not have much of a need to sell assets, except perhaps in smaller markets, or markets where their clusters are not sufficiently deep.”

Should the Commission “see the wis-dom” in liberalizing the ownership rules for radio, whether via removal of the ownership caps or alteration of its sub-cap limits, Evers and his team at MVP Capital believe that “a large number of trades” will come to fruition as owners move to consolidate and deepen their positions in any given market.

“This may set the stage for larger mergers along the lines of CBS Radio/Entercom,” says Evers, “but, today, it is very difficult to read the political tea leaves and predict the likelihood of fur-ther deregulation on the radio front.”

Even if deregulation creates a more welcoming environment for buyers, are radio deals not happening simply because there aren’t enough buyers?

“There has been a notable absence of new equity capital coming into the radio business,” Evers says. “In our view, this is caused by the balance sheet issues iHeart and Cumulus are facing, plus the lack of growth in the industry. A dark cloud that has hung over the industry for many years will be removed once Cumulus and

iHeart are able to trim their debt loads to manageable levels. And having the CBS Radio stations in the hands of [Entercom President/CEO] David Field, an opera-tor with a healthy balance sheet, a great operating team, and a passion for the business, is a very strong positive.”

What are Evers’ thoughts on the TV marketplace? Unlike Kalil & Co., he’s bear-ish on any loud post-spectrum activity.

“In our view, the lack of trading in TV is not caused by any issues associated with the repack,” he says. “The industry has seen enormous consolidation in the past five years, and there are now very few potential sellers but lots of willing buyers. To be more precise, in 2011, there were 33 major TV operators. By the end of 2017, that number had shrunk to 13.”

For those looking to grow, the lenders are ready to talk.

“Capital is cheap,” says Evers, “and there are many benefits associated with being a larger TV player: leverage with the networks and syndicators and, critically, leverage with the MSOs when it comes to retrans negotiations. Everybody wants to get bigger, and the deregula-tory initiatives undertaken by the Pai Commission will likely accelerate this trend. But there are simply not that many likely targets to be acquired. While we believe you will see continued consolida-tion, the deals, when they happen, will be larger companies merging with, or acquir-ing, their peers.”

Equity coming into the radio business may be a bit tougher accomplishment.

“It is important to note that the Entercom/CBS Radio deal did not involve the invest-ment of any new capital; it was a cash-free merger,” he says. “Will we see more equity coming into the business once iHeart and Cumulus have solved their issues? We believe we will, but it may be limited until the industry is able to show meaningful top-line improvement. And without new equity capital, you are likely to see more consolida-tion by existing players, but not a lot of new entrants.”

MOVING BEYOND RADIO’S TWO BIG PLAYERS

Patrick Communications Partner Greg Guy believes television industry deals will dominate 2018. Yet he thinks radio industry trades will pick up. Like Evers, he points to “industry-based issues” — namely the towering debt at iHeartMedia and Cumulus Media and reorganizational efforts at both companies — as resolving much of the trepidation behind invest-ment.

It could take a bit of time, however. “We think 2019 will mark a significant comeback in the deal-making and M&A market,” Guy says. “In 2018 we will steadily start to see the transition.”

The sale of the radio stations owned by Scripps “will be an interesting one to watch.” Why? “The company has a variety of assets that includes some good clus-ters, but most likely those clusters will get broken up and not sold in one piece, and that speaks to what you see in radio right now. Regional groups are healthy and acquisitive.”

Thus, the Entercom/CBS Radio and Beasley/Greater Media deals were “a little different.” Moving forward, Guy believes, deals will be viewed cluster by cluster, and based on strategic purposes, rather than simply becoming a larger company.

“Frankly, I think that’s where the best value can be had — in pieces,” Guy says. Therefore, Alpha Media’s $264 million acquisition of Digity, which closed in February 2016, is likely the last of its kind for a long time. “I don’t see new compa-nies forming in that way,” Guy says.

Market performance imbalance is one deterrent. For example, Alpha’s West Palm Beach cluster is a juggernaut, with highly rated stations and significant rev-enue success. But what if the stations have a bad week? In Guy’s view, that’s a bigger punch to the company than if it were to experience a lackluster month at a Missouri cluster.

A shift to market-by-market buyer interest is part of a transition period for deal-making that has lasted a decade, Guy says.

“Since 2008, some of the best com-panies have not been interested in sell-ing, waiting for multiples to come back,” he notes. In that time, those who were between the ages of 60 and 65 have

“Very, very strong interest is expressed to us on a daily basis from professionals who used to own stations and wish to get back in the business, in addition to owners who wish to add on to their current group. That will increase over time.” — Lou McDermott

S P R I N G 2 0 1 8 · R B R .C O M · 9

aged. Today, they may have a greater desire to sell, and retire.

“Those deals will come out in a steady flow, but there will be no rush to the exits with 20 family-owned broadcasters sell-ing out,” Guy says.

Who will emerge and start new com-panies to bring additional opportunities to the buy side is the large unknown. To Guy, it is neither a buyer’s nor a seller’s market. And it is a known universe on both sides of the deal-making process. “As soon as you get a seller from a major market, you know pretty quickly who your buyers are,” he says.

Some regional entities, including The Meruelo Group’s Meruelo Media opera-tion, have “dry powder and an opportu-nity to grow,” Guy says.

While the company has made headlines for acquiring stations in Los Angeles, markets of all shapes and sizes could be of appeal.

“In smaller markets, it’s all about hav-ing the best cluster,” Guy says. “If you’re the dominant cluster, it’s an asset that is still going to be monetized.”

What about unrated markets? He com-ments, “There are still good assets, and there are buyers. The buyer pool is fairly shallow, and you need to be smart with the negotiations as you know what the likely outcome is.”

Could a foreign owner or two be in the mix? It’s a faint possibility, if that.

“We’ve gotten some calls from some international buyers looking for oppor-tunities,” Guy says, noting that the deals seeking FCC waivers for 100% foreign ownership are specifically tied to life raft opportunities, where the stations would otherwise remain silent. He says, “From a business standpoint, foreign ownership is helpful. Practically speaking, we’ve just not seen significant impact.”

SINCLAIR’S SOLUTION IN A SLUGGISH MARKET

The wild card for TV deals in 2018 is the divestment of up to 23 broadcast televi-sion properties by Sinclair.

As RBR+TVBR first reported on Feb. 21, the stations have been designated for placement in what will be called the Sinclair Divestiture Trust, and the trustee is RAFAMEDIA LLC, led by veteran media broker Richard A. Foreman.

In an exclusive conversation with

RBR+TVBR, Foreman confirmed that a number of stations have been selected for placement in the trust “for the purpose of removing them from the licensee.”

While these stations are slated to go into the trust, there is no guarantee that they will. “Some of the stations may not be going into trust,” Foreman said. Reasons may include a sale of a station or stations to a company prior to their place-ment in the trust.

While Foreman will be kept busy with the Sinclair divestitures, there could be only a trickle of other activity on his plate in the coming months.

“I really thought the spectrum auction would cause a lot more activity than it caused,” he says. “I thought there would be a second shoe to drop, and you’re not really seeing that now. The auction is over, done and funded.”

On the radio side, it just comes down to buyers, Foreman says. Unfortunately, there is a small pool of them.

“I think we can put a blanket on it and say that at this point in time it is slug-gish in both sectors,” Foreman says. “If it were to accelerate, the question is what is going to create the acceleration? I don’t really see anything out there right now.”

For those in the market to buy, Foreman expects them to be picky and to be strategic. They will be very focused on the parameters they must have. If those specifics aren’t to be had, they will not do the deal.

This paints perhaps the best illustra-tion of what will likely unfold for brokers in the three quarters ahead: Deals will be done, but there will be no need to try to catch a deluge with a paper cup. It’ll serve just fine, catching the drops and drips that will eventually comprise the 2018 transactions marketplace.

“Will we see more equity coming into radio the business once iHeart and Cumulus have solved their issues? We believe we will, but it may be limited until the industry is able to show meaningful top-line improvement.” — Elliott Evers

10 · R B R .C O M · S P R I N G 2 0 1 8

For 38 minutes on the morning of Saturday, January 13, panic swept across the Hawaiian islands. A full-on nuclear scare sent terrified families into hiding. A message alert went out from the State Emergency Management Agency on O’ahu, stating a “ballistic missile threat inbound to Hawaii.”

It was a false alarm, attributed to human error. While steps are being taken in Honolulu to ensure that this snafu can never happen again, other states have built systems designed to prevent such a grave error from ever occurring.

The state of Alabama is on the forefront of Emergency Alert System (EAS) pre-paredness, advancements and accuracy.

Much of this is thanks to the efforts led by Larry Wilkins, Alabama’s state EAS coordinator and the contract engineer for the Alabama Broadcasters Association, providing services as EAS Chairman, Alternative Broadcast Inspection Program (ABIP) Inspector and Engineering Academy Director for the association.

Alabama transitioned to a satellite-based EAS system several years ago. Specifically, the state is using a Common Alerting Protocol (CAP)-based system fur-nished by Global Security Systems.

This is accompanied by two statewide networks, which utilize the Alabama Public Television and Alabama Public Radio platforms and serve as the state relay networks, along with GSSNet. The GSSNet origination web portal also allows for the pushing out of alerts through IPAWS.

What does this mean for the engineer-ing novice? Daisy-chain distribution has been eliminated.

The Alabama state plan has received FCC approval, and serves as a model for

other stations to embrace. There’s more: This year sees Alabama adding an FTP monitor system that as of early March is monitoring 114 different EAS units around the state, allowing officials and engi-neers to continually monitor the health of Alabama’s distribution network.

Wilkins says the use of the two state-wide networks did much to do away with daisy-chaining.

“The Alabama Public TV Network boasts nine full-power transmitters covering more than 95% of the state,” he notes. “The Alabama Public Radio Network uses four full-power FMs strategically located from Tennessee to the Gulf Coast.”

The Global GSS system was brought into the mix a few years ago, leading to the creation of 32 downlinks for full-power FMs around the state.

All of this activity was funded through a grant from ABA and FEMA in Alabama.

“We can get signals to the stations, both radio and TV, with limited daisy-chaining,” Wilkins boasts. “The state plan requires monitoring of the closest public station, and ones with downlinks have their signal coming in off the satellite. It’s been suc-cessful.”

For redundancy, a key to ensuring that an alert is legitimate, four sources of the same alert are used.

To help manage this, Global Security Systems built a web portal created with the guidance of the Alabama State Emergency Communications Committee (SECC).

Wilkins says, “One of the things that has made Alabama so successful is that we have a very active SECC. It includes members from the state government and the governor’s office. There are repre-sentatives from the ABA and the state

cable television association, and from the National Weather Services, and radio and TV industry executives. We act as a gate-keeper as to who has access to this highly encrypted system — who can get in there and actually issue an alert.”

That’s vitally important, and Alabama’s EAS structure is such that a mimic of the Hawaiian snafu is a virtual impossibility.

“This is a very nonexistent situation that could occur in Alabama,” Wilkins says of the Hawaii error. “We limit the codes that they have. Alabama law enforcement has the code to issue Amber Alerts, and that’s the only code that shows up on the portal when the screen comes up.”

The same scenario exists for Alabama’s two nuclear power plants. “They can send the same alert but are limited on the code,” Wilkins says.

That’s not to suggest something errone-ous could never happen. It could … but a whole bunch of things would have to fail simultaneously.

Alabama is one of the first states to set up a satellite CAP system. Mississippi is another early adopter.

“Our committee is very involved in man-ning that thing,” Wilkins says. “We only give access to certain people. There are 100 codes that are actually in the FCC database, for everything from tsunamis to blizzard warnings. We are very strict in allowing a particular agency to access certain codes.”

What types of emergency situations do Alabama broadcasters need to be concerned about? For one, Alabama’s Gulf Coast is right in the middle of “hurricane alley,” and any storm of significance is reason for an EAS alert. This year, Alabama suffered from two rare winter storms that caused problems in the northern part of the state.

THE PUSH FOR EAS ACCURACY

S P R I N G 2 0 1 8 · R B R .C O M · 11

To ensure the EAS system is working properly, a satellite-only closed-circuit test is conducted twice a month. This ensures that the distribution system is working.

“We know in a matter of seconds if the test went to where it needed to go,” Wilkins says.

Alabama is also using the Integrated Public Alert and Warning System (IPAWS) to push out alerts. Wilkins explains, “Most of the time the channel sits there, idle. As the channel is open 24/7, they allow sta-tions that wish to use it to get the creden-tials to send state alerts.”

How did Alabama take the lead on EAS? “ABA has been very active with EAS for many years,” says Wilkins, who got involved nearly eight years ago.

“A lot of it has to do with being hur-ricane-prone on the Gulf. Alabama and Florida seem to be a target for those things. And there’s a great relationship with the state emergency management association. That is really key.”

KEEPING ALERT IN THE MOUNTAIN WEST

If there’s one message Gary Smith, Chief Engineer at Cherry Creek Radio, wants broadcast media owners to know about EAS, it is this: Radio has been deliv-ering life-saving messages for more than 50 years, and that’s not about to cease.

Smith is also a sitting member of the FCC’s Communications, Security, Reliability and Interoperability Council (CSRIC). This role calls on his 38 years of experience as an engineer in markets large and small, including Phoenix, and St. George, Utah, just northeast of Las Vegas along Interstate 15.

It’s a job Smith does not take for granted. “Broadcasters take their respon-sibility for EAS very seriously,” he says, before reviewing the basics of how emer-gency alerts are distributed in Utah.

There are two modes for noncommer-cial and commercial stations. One can be

a “participating station,” which receives an alert and automatically forwards it. “It could be a nationally or locally originated national alert generated by a state or county emergency management associa-tion,” Smith explains. The other is a sta-tion that actually does the origination — typically a local Primary 1 station trained to receive a request and put together the audio, and then activate the EAS.

Not everybody has that power; a Primary 1 station is the one designated in the state emergency alert plan for each operational area. Most of these Primary 1 stations have a long history in the role.

Who writes the plan? In Utah it comes down to the state EAS chairman and state emergency communications chair-man; that’s the same person, although in other states it could involve two people. The state emergency communications committee then works closely with differ-ent government and private agencies to author the plan and file it.

Utah has two Primary 1 stations, and both are giants. Along the Wasatch Front,

it is KSL-AM 1160 in Salt Lake City. In Southern Utah, it is KDXU-AM 890 in St. George, a station with a signal that can be received in Los Angeles at night.

But, what happens if the Primary 1 sta-tion goes down, as was the case imme-diately following Hurricane Irma’s march across Florida? For more than 24 hours, WIOD-AM 610 in Miami was silent.

That’s when the Primary 2 station kicks in. In this case, WIOD shifted to the WINZ-AM 940 frequency.

In Utah, the northern and southern portion of the state do separate emer-gency alerts, given the geographic split between the areas.

Should an alert need to be issued in northern Utah, KSL will be contacted. Authentication of the request to originate an EAS alert will be done, and KSL will then formulate the message and send it out via software that has the ability to generate the message both through the IPAWS CAP system and through the tradi-

What is IPAWS? FEMA and Homeland Security developed IPAWS primarily for the President to issue an alert. Every Monday they run a closed-circuit test. If the White House needs to issue a national alert, it will be transmitted over this Internet IPAWS channel. Every station is required to monitor that IPAWS channel specifically for the presidential alerts.

“One of the things that has made Alabama so successful is that we have a very active State Emergency Communications Committee.”-- Larry Wilkins

“We’ve had instances where the government at the state local emergency management level has failed to originate an EAS alert. Broadcasters stepped up.”-- Gary Smith

12 · R B R .C O M · S P R I N G 2 0 1 8

tional daisy chain.In Southern Utah, it would depend on

the operational area. In most cases, KDXU would be contacted, and Smith and his team at the station in St. George would create the message and send it through a traditional daisy chain; it is not on the IPAWS CAP.

Could a Hawaii-like error, then, happen in Southern Utah?

Smith says, “There is no technical fix for human error, and the situation in Hawaii

was a series of human errors. The particular employee who executed that message had a reported history of confusing real-life events and drills, at least twice before. He stated that he believed that there was an actual emer-gency, even though he had heard the mes-sage that this was a drill. It is difficult to have a particular fix for that type of human error.”

He notes that in a highly populated area such as Maricopa County, Ariz., home to Phoenix, Scottdale, Mesa, Tempe,

Chandler, and the other cities in the Valley of the Sun, Alert Studio FM tools are in place. “It is very clear within the software to know what you are doing,” Smith says.

At KTAR-FM 92.3 in Phoenix, there is “constant training of a staff of 30 people who are able to operate the system, should there be a need for an alert.”

Meanwhile, there are special precau-tions in place in case of an event at the Palo Verde nuclear generation plant. Events are monitored so the operator on the radio station staff and a Palo Verde representative in the building are watch-ing, monitoring and recording each action that is taken. “The training is extensive … and yet mistakes are still made,” Smith says. “The human element is the weakest link in the system.”

That’s something he’s only heard of.“I have never personally witnessed a

false activation of the EAS,” Smith says. “I have witnessed regular monthly tests or weekly tests that have not gone out as they were supposed to. When that was recognized, the tests were repeated and went out properly.”

That’s why Smith believes the general public should be comfortable that radio has their back in a time of acute need. “A radio should be a part of everybody’s tool kit, in the case of an emergency,” he says.

Does radio fail at sending that mes-sage?

“Radio provides compelling content, and because of that people are driven to have them,” Smith says of radio tuner ownership. “In and of itself, that would drive people to radio. We’ve had instances where the government at the state local emergency management level has failed to originate an EAS alert. Broadcasters stepped up.”

BEHIND THE TECHNOLOGY PROVIDERMuch of the software and satellite network developed for EAS alerts is the creation of technology provider GSS/ALERT FM, led by EVP and Chief Technology Officer Matthew Straeb.

GSS/ALERT FM supports the operation and maintenance of the network and provides real-time training “so we can prevent a situation like what happened in Hawaii,” Straeb says. “We train the trainers, but we also have real-time information together for someone who gets in a jam.”

The software is designed so one cannot build a template similar to the one Hawaii used in early January 2018. “You have to deliberately make decisions as you’re going along,” Straeb says. “Sending out any alert requires a three-set verification.”

Straeb notes that through ALERT FM, he has the ability to send out text messages on the RDS channel. This part of the EAS alert capabilities that are available for radio stations has been in operation since 2005. “This is used to back up the cell network, if and when it fails, as our receivers run off batteries,” he says.

Straeb adds that GSS has many active IPAWS users on its system and that its technology has been validated and tested by Western Kentucky under the observation of FEMA designates. He says, “To reimagine, we need to think outside the Beltway to have long-term impact.”

SAVE TIME & MONEY WITH

WAVSTARA Single Cloud Based System to Manage Customer Relationships,

Sales and Production that Integrates with Traffic.

For more information go to:

www.WAVSTAR.com855 928-7827

RADIO - TV - DIGITAL

S P R I N G 2 0 1 8 · R B R .C O M · 13

With CES 2018 and NATPE Miami now in the rear-view mirror, broadcast TV execu-tives have one clear takeaway from these two conferences. While CES has until now been all about digital technology and the coolest new electronic gadgetry and NATPE has traditionally been a market-place for programming, the rapid growth of “Over The Top” (OTT) TV consumption has brought these two worlds together in exciting ways.

That said, broadcast TV companies need dependable technology to deliver more video streaming to the growing number of consumers who watch live and scheduled programming where they want, and when they want. A Milan, Italy-based global video deliv-ery network believes it has the tools to

enter the U.S. marketplace. By the time the 2018 NAB Show in Las Vegas con-cludes, this company — Mainstreaming

— will be celebrating its seven-month anniversary operating from the City by the Bay.

What Mainstreaming aims to offer U.S. broadcasters is what lured Jim Hart to the company. He came on board in August 2017 as its VP/Global Sales, serving from Orange County, Calif. He previously served in a top sales role at Mirror Image Internet, a provider of online video pub-lishing, streaming solutions for delivering live video and video on-demand.

“I was impressed by the network, which was different,” Hart notes. Why? He credits Mainstreaming’s hypernode technology.

What exactly does that mean? “There are two big bullet points that caught my attention,” he explains. “The first is stream delivery, while the other — while

Is ‘OTT’ Media’s ‘Obvious Trek To Tomorrow’?

14 · R B R .C O M · S P R I N G 2 0 1 8

it sounds like a pitch — really is its cost-effective model to manage, deploy and scale.”

With that assessment, Mainstreaming is hoping to use its experience with some large European broadcasters to lure U.S. companies that still wish to “be every-where” through the delivery of video con-tent to every device used by a consumer.

This is where Mike Smith, VP/Global Solutions and Engineering at Mainstreaming, gets excited. He’s also a former executive of Mirror Image Internet, and most recently worked for CDNetworks.

For Smith, the hypernode network is “the special sauce” that makes Mainstreaming desirable to TV broadcast-ers and forward-thinking radio companies that wish to push out more unique video content. He describes the network as a “software/hardware hybrid.”

A big selling point for Smith was a “full stack” solution with what he believes is “a truly innovative” Content Delivery Network (CDN) to back it. “Having just seven months in the U.S. market is an advantage, because we are investing in technology that is relevant to 2017, with no legacy CDNs dating to 1999.”

That’s the chief disadvantage of compa-nies Mainstreaming seeks to compete with in the U.S., Smith believes, as money is spent to upgrade a continuously evolving infrastructure.

For broadcasters, working with a company such as Mainstreaming may be a necessity.

“Look at the traditional idea behind a broadcast schedule, versus how millenni-als are consuming video content,” Smith says. “In 2017-18, content consumption is being done on a ‘when I want’ basis. As a result, broadcast companies have adapted because consuming content on your time scale is important, and huge.”

A VISUAL PLAY FOR RADIO TODAYWhile broadcast TV companies have

largely been targeted by the biggest CDNs, Mainstreaming believes it can also grow stateside with the participation of radio broadcasting companies.

Smith is just the person to help evan-gelize Mainstreaming’s push in the U.S. From October 2005 to March 2012, he was Digital Media Manager for Educational Media Foundation and its KLOVE and Air1 Christian contemporary music networks. In this role, Smith built, deployed and marketed the next-gen streaming platform for both KLOVE and Air1, while working to widen reach and listener engagement through new technologies.

From 1999-2005, he was an Information Technology Manager for iHeart prede-cessor Clear Channel Communications, working in several radio markets within Northern California.

When not in his full-time job or vol-unteering as a Asst. Cubmaster for a

local Cub Scout pack, he’s at the helm of AllTheBestOldies.com.

Or he’s showing one radio industry com-pany ways they may wish to expand their visual entertainment opportunities. “The whole idea of this is to bring compelling content to the audience,” Smith says.

It mirrored a conversation Hart had with a top broadcast company in Ireland. “The concept of an online video platform is very much a conversation many are having today. Five years ago, we wouldn’t have had those conversations with audio broadcasters.”

Much has changed since 2013, although many may not realize it. Spotify is now a publicly traded company; Pandora is no longer in vogue. Many say radio is in a renaissance, while ATSC 3.0 could bring bold new opportunities for TV stations through addressable advertising and view-ing via a smartphone with a “chip” that can receive DTV signals (not to mention FM signals).

Smith notes, “In this vertical, radio has never been about ‘video solutions,’ and now radio stations can not only stream online, they can expand their audience reach by introducing video. With video and social media re-streaming, radio stations can continue to be relevant to millennials and future generations.”

One of the companies known mainly for its radio stations that is branching into video content is Pacific Media Group, based in Kahului, Hawaii. In August 2016, studio space was built out in the front of the building within steps of the largest shopping mall on Maui. Today, news and weather updates are an integral part of MauiNow.com — a formidable competitor to the local daily newspaper. It also gives local media a visual news and informa-tion presence based on Maui, as the local TV stations are all based in Honolulu. Also as important is new revenue, and Blue Hawaiian Helicopters stepped in as a sponsor.

ACCESSIBILITY FOR ALL AGE GROUPSHart and Smith point to Hearst-owned

NBC affiliate KCRA-3 in Sacramento as a station that has taken advantage of live streaming on social media by using it as a conduit to deliver its content to younger audiences, who are mainly online and using digital and social media. “Because there are two very different demos, they can push their content out digitally and on

the local news and not have much over-lap,” Hart says.

Smith has a unique take on the roll-out of video content to hand-held devices. “If we rewind to the pre-smartphone era, it would be fair to say that video content was just an extension of what was over the air. A lot has changed since 2005, and this idea needs to be changed every year as the target demo ages out. It is about how to stay relevant.”

Is the flood of OTT limited to only the biggest DMAs, or perhaps a tech-savvy small city in mid-America? No, Smith says. “In Ridgecrest, Calif., they consume con-tent the same way as they do in bigger cities in California,” he notes. “Market size isn’t as relevant anymore. Ridgecrest has great broadband access, and that’s all you need.” And one can serve such a market “for pennies on the dollar,” Hart says.

Even as Mainstreaming is in the begin-ning stages of becoming a U.S.-based company, there are early successes in the States. One involves the National Football League’s Denver Broncos. In November 2017, the team selected Mainstreaming to deliver its video content over multiple digital and social media platforms, includ-ing Facebook and Twitter.

At the time the deal was struck, Mainstreaming CEO Antonio Corrado said, “We understand that fan engagement for sports organizations is extremely impor-tant and thus, high-quality streams must be paramount for this to happen.”

Another largely successful partner-ship Mainstreaming has struck in the U.S. involves EWTN — Global Catholic Network, a major religious noncommercial broad-caster in the radio and TV space also found on SiriusXM Satellite Radio with Spanish-language and English-language feeds.

EWTN’s request was for “a modern solution that solves current live and on-demand video streaming needs while also possessing scalability for requirements in the future.”

Mainstreaming responded by inte-grating EWTN’s current technology with Mainstreaming’s next-generation delivery network. “EWTN capitalized on Mainstreaming’s cost-effective solution while guaranteeing video quality delivery, performance and ROI,” Mainstreaming notes. “With their global audience of over 250 million, EWTN needed their video to be repacketized into additional formats without slowing down delivery time. With our HyperNode network and increased monthly views, Mainstreaming was able to achieve this while guaranteeing EWTN’s audience was able to view their content on any connected device in every format.”

Now, with the 2018 NAB Show a key marketplace, Mainstreaming is poised to further its efforts from coast to coast.

“The American market is huge,” Hart says. “We’re ready for it.”

“The American Market is huge. We’re ready for it.” — Jim Hart

S P R I N G 2 0 1 8 · R B R .C O M · 15

Picture this: You’ve just left the C-Suite, and your boss isn’t exactly pleased. Costs are high, as are tempers, because your sales team, traffic manager and produc-tion department aren’t communicating to their best potential. Solutions are debated, but nothing seems to stand out.

WAVSTAR seeks to erase this hypotheti-cal situation from the radio industry.

“There are a lot of spot solutions — not radio spots, but CRMs and production order systems,” remarks company CEO Michael Boccardi. “But none of them are really linked together.”

WAVSTAR believes it has solved that problem through its creation and devel-opment of a cloud-based system that takes clients from the prospecting stage to sales management, and production management, before integrating into traf-fic systems so there is no duplicate entry.

It is a Software-as-a-Service (SaaS) platform, and some 20+ stations are already on the platform, including WDKN-AM and FM translator W268BN “101.5 The One” in Dickson, Tenn.

WAVSTAR has come a long way since its first product release in March 2016; its Customer Relationship Management tool (CRM) was released in the fourth quarter of 2017.

Its development is largely the result of fate, and of ideas expressed by an on-air personality who has worked in such markets as Nashville and Oxnard-Ventura, Calif. — Rick Marino.

One of three partners in WAVSTAR, Marino was the first of the trio to recog-nize that there was a lack of comprehen-sive and integrated products for the radio industry. This came from his own experi-ence at Adult Contemporary WJXA-FM in Nashville, and at Country KHAY-FM in Oxnard-Ventura.

From Marino’s original concepts, WAVSTAR was born. Then, some 200 groups offered their input. “The product today is a direct result of those relation-ships,” Boccardi says. “This came from doing the demo and seeing their needs. This has really shaped the product.”

This user input is what’s driving what comes from WAVSTAR in each new release.

The third partner in the company has no radio industry background. That’s Frank Matassa, a businessman who is active in construction and has extensive experience in Information Technologies. Marino met Matassa through his wife, Lisa Matassa, a country singer-songwriter who first found success in 1987 as free-style dance music artist Lysa Lynn.

Boccardi is also a radio industry novice.

“I’ve been in technology for about 40 years now,” he says. “I’ve worked for large corporations, and I’ve built com-puter centers and built trading systems. For the past 20 years I’ve been more on the entrepreneurial side.”

In 2000, Boccardi built a cloud-data center, Cervalis, in the Northeast, and in 2015, he sold it to CyrusOne. The price tag: $400 million.

He retired — for exactly four days.“It’s interesting,” Boccardi recalls.

“Frank and Rick had this idea and were working on this, but the IT piece was missing. It was Christmas Eve, and the Monday after the holiday my wife asked me where I was going. I told her I had to go out and get an office.”

This was the genesis of WAVSTAR, with Pamela O’Connor also coming on board as an integral part of the management team and day-to-day operations. “She has been instrumental in the development of the company,” Boccardi says.

“There has been a lot of work, but it’s a lot of fun because I know that it is filling a need that has not been addressed,” he adds.

Sales management software isn’t new, nor is the need to manage a station’s entire workflow. Boccardi believes the difference on the WAVSTAR platform is the delivery of CRM plus sales manage-ment, plus production management — and without the headache of trying to get them to talk to each other.

He elaborates, “You’re an account executive. You’re out there, trying to sell advertising. Maybe you have a list of potential customers. Where is it? Here it is, in the WAVSTAR system. As they are talking to people, it is logged in a single platform without duplicate data entry.

The sales manager sees the activity. Calls, proposals — they are all rolled up in a sin-gle platform. Then, when sold, the traffic department knows and can then start a production order with a single click.”

Everybody is on the same page, Boccardi says.

“The sales team can capture their orders in the WAVSTAR system, and that will flow all the way to the traffic system, and that’s a big difference,” he notes. “People have CRM, and that doesn’t really talk to other platforms.”

Boccardi believes WAVSTAR has a par-ticular appeal for smaller station groups that don’t have the IT experience or an IT department and do not have the time to figure it out.

“When you think about being a sales-person or a production manager, you get this holistic view of a client, whereas right now people are trying to figure out how to make all of these systems talk to each other,” he says.

With the 2018 NAB Show, a new release from WAVSTAR is available to more than just the radio industry. It includes links to the traffic system — and support for TV, digital, and/or print clients.

Speaking of WAVSTAR’s rollout to the television industry, Boccardi says, “It is interesting to see that there is a tremen-dous amount of overlap [between TV and radio], and the leap from one to the other is not much at all. When you think of people trying to sell TV advertising, that front-end piece, there really is no differ-ence at all.

“From the sales perspective, it is the same thing. From a proposal perspective, they are selling ads in time slots. It is the same with digital.”

Help From The Cloud

NOVEMBER 14, 2018 • HARVARD CLUB, NYC

RADIO’S MOST PRESTIGIOUS LEADERSHIP CONFERENCE

Forecast gathers the smartest minds in broadcast and advertising to forecast trends, expectations,

and revenues for the coming year.IT IS A MUST-ATTEND EVENT

THE ONE TO SEE – AND BE SEEN AT!

Join Beasley Media Group CEO and Forecast co-chair, Caroline Beasley, along with other radio leaders, investors, visionaries and prognosticators for a day full of information, ideas

and provocative discussions about the future of the industry. It’s a day long “think tank” capped by the annual Top 40 Reception, honoring the most influential people in radio.

If you run a major radio group or a small independent, if you have a financial stake in the radio industry, plan now to attend Forecast 2019. Register now for substantial savings with early-bird registration pricing.

Go to radioinkforecast.com for details TODAY!

Platinum Gold Corporate Top 40 Plaques Media Partner

SPONSORS

Forecast_RBR 4.9.18_FP.indd 1 3/20/18 2:13 PM