The Business of Radio

by Tom Gordon & Jeff McKay

 

July 23, 2018

 

Is it possible the proposed Sinclair Broadcast Group – Tribune merger has become political?  Newsmax CEO Chris Ruddy allegedly told President Trump “a few times” he opposes the merger, and now the FCC has voted to send the merger to an administrative law judge – a move that has “shocked & disappointed” Sinclair and could put the proposed merger into dire straits.  News of the FCC move had a serious impact on radio stocks the minute it was announced – shares of Tribune tanked 16% and Sinclair lost 12%, and other radio stocks also lost ground.   Westwood One will be looking for a new football analyst after an 18-year run – former NFL star and current WFAN New York morning host Boomer Esiason is giving up the football duties to focus on his morning radio show.