FTC Bans Common Media Biz Contract Clause: The Noncompete
In a move that could have far-reaching effects on the media industry, the Federal Trade Commission voted yesterday (4/23) to ban noncompete clauses in employment contracts for most U.S. workers. This is certainly going to be challenged in courts as The New York Times reports. “But the U.S. Chamber of
Commerce vowed to sue the FTC to block the proposal, calling it ‘an unlawful power grab’ in a statement shortly after the vote. The chamber, as well as the two dissenting [FTC] commissioners, has argued that the FTC doesn’t have the authority to address this issue and that it should be left to the states.” The Times piece notes that the rule becomes law 120 days after being published in the Federal Register – meaning sometime in late August – but that legal challenges could block or delay the change. In the radio industry, most on-air talent, programmers, and sales staff who work under written contracts have a noncompete clause that prevents them from working “across the street” usually for six months. If this new policy stands, it will be a monumental change for radio companies. Read the Times story here.
Soros, would become the largest shareholder in New Audacy and that Soros would “control these radio stations to advance their particular brand of activism.” Further, MRC objects saying that the FCC has an obligation to complete a full and thorough review and that the Commission is being asked to approve the change in ownership without this review, specifically 
regarding the foreign ownership issue which the MRC says would not be handled as required by Section 310(b)(4) of the Communications Act of 1935 if the Soros Group gets what it wants. It’s asking the FCC “to waive that process and put it off until sometime down the road – indicating that those foreign stakeholders will be given ‘special warrants’ in the meantime. The Soros group says that putting off the required foreign ownership review will enable the FCC to expedite its approval of the Soros applications and thus allow them to more quickly realize their ownership interests in and take over the hundreds of local radio stations across the country.” The MRC argues that the Communications Act of 1935 “does not contain a special Soros shortcut.” 
available across iHeartMedia’s broadcast, digital and podcast platforms and everywhere podcasts are heard. Talent to be heard on the platform include sports media personality Sarah Spain and WNBA legend & three-time Olympic gold medalist, Sheryl Swoopes, with more talent to be announced in the coming weeks. Deep Blue is led by agency veteran Laura Correnti as founder and CEO and WNBA legend Sue Bird as chief strategy officer. iHeartMedia chief marketing officer Gayle Troberman states, “Women’s sports are on fire and so is audio. The timing is perfect to deliver on the massive fan excitement today and most importantly use the power of iHeart’s massive audience reach to ensure women’s sports gets the attention it deserves.
WEEI, Boston’s midday show “Gresh & Fauria” with Andy Gresh and Christian Fauria, and night host Rich Keefe; WSCR, Chicago’s “Parkins & Spiegel” with Danny Parkins and Matt Spiegel; WXYT-FM, Detroit’s “Karsh & Anderson” with Doug Karsch and Scott “Gator” Anderson, and “The Mike Valenti Show with Rico”; WJFK-FM, Washington’s midday host Brian Mitchell and evening host Craig Hoffman. 
Junkie Radio, its first-ever full-time true crime channel. The channel will feature the new series, “Crime Junkie AF,” hosted by Flowers. The 24/7 channel will present episodes from the deep archive of audiochuck’s flagship show “Crime Junkie” along with selections from its other top-rated shows, such as “The Deck.”
heard on more than 200 affiliate stations. Premiere Networks president Julie Talbott says, “We’re delighted to extend our partnership with Jesse Kelly. Since joining our industry-leading talk lineup three years ago, we’ve watched him build a loyal following of passionate fans who value his authentic, bold and relatable brand of entertainment. We look forward to many years of continued success together.” Kelly comments, “As blessed as I am to be part of Premiere, I know they’re twice as blessed to have me. I can’t wait for three more years of being the Da Vinci of the airwaves.”
McKone is named the new headline anchor and co-host on the station’s “Zolak & Bertrand” midday program. McKone takes over for Rob “Hardy” Poole, who moved to mornings with Fred Toucher on the station in January 2024. McKone has been a part-time on-air personality at the station since 2013. In addition to co-hosting and providing headlines on all weekday and weekend shows across the station, he has served as studio host for the Celtics and Bruins radio broadcasts.
Interestingly, marketers and media agencies massively underestimate the immense sales effect power of creative. NCSolutions says that creative drives half of sales, about two-and-a-half times what advertisers perceive. The Advertiser Perceptions February 2024 study reports brands and media agencies say creative only represents 19% of total sales effect. NCSolutions science reveals creative generates an eye-popping 49% of incremental sales. According to System1 chief customer officer Jon Evans, “Creative is the number one factor in explaining the performance of your advertising and yet most marketers still don’t realize it. That means that those who focus on getting the creative right have a huge competitive advantage. Firstly, marketers need to wake up to the importance of creative and secondly realize it isn’t some dark art but something you can measure and improve to give you an advantage over the competition who haven’t realized this yet.” 
Program founder Ian Freeman – who is currently in federal prison after a crypto-currency fraud conviction – thanked GCN and CEO Ted Anderson for 20 years of great syndication service. Freeman says the change will mean no recorded network inventory for affiliates and the elimination of the middleman means no more affiliate agreements. He adds that the current hosts of the program are dedicated to keeping “Free Talk Live” on the air.
traded below the $1.00 per share minimum bid price requirement for 30 consecutive days and it was being given 180 days to regain compliance. This move gives Beasley another 180 days to come into compliance by having its stock price trade at the $1.00 threshold or above for 10 consecutive days. The company announces that it has notified Nasdaq that it intends to cure its deficiency in satisfying the minimum bid price requirement by effecting a reverse stock split, if necessary. It would require the approval of current shareholders to do so. A reverse stock split reduces the number of shares in a company, thereby increasing the value of the existing shares.
31). The company says it expects to report net revenue in a range of $199 million to $201 million – change of between 3.3% and 2.3%. It also expects to report a net loss in a range of $(14.9) million to $(13.4) million and Adjusted EBITDA in a range of $7.65 million to $9.15 million. The company will report its actual first quarter 2024 operating results on Friday, May 3. 
sports talk outlet where he’s been an on-air personality for the past 31 years. Currently, Macnow hosts the Saturday and Sunday 10:00 am to 1:00 pm shows and the Eagles pre-game show. Macnow says his last weekend program (which he co-hosts with Mike Sielski) will be July 13.