| Radio One, Inc. |
Memo
To: Mr. Alfred Liggins III
From: Team 5
Date: [ November 22, 2011 ]
Re: Clear Channel Communications Inc. acquisitions
Mr. Liggins
The recent merger between Clear Channel Communications Inc. and AMFM has presented a rare opportunity for Radio One, Inc. The proposed divestiture of Clear Channel will be the largest in the history of the industry. Radio One, Inc. can acquire 12 established urban stations in the top 50 markets, which rarely become available. Market analyst have already speculated on the possible acquisition, causing Radio One’s stock price to rise from the mid-$40s to $97 a share! The trading multiple is at around 30x’s the forward BCF, which is substantially larger than the typical
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In 1999, a rare opportunity was presented to Radio One, Inc. Clear Channel Communications, Inc. was set to merge with AMFM, creating the largest radio company in the world. Although recent actions have relaxed the national ownership cap on the limit of stations allowed to be owned by one entity, Clear Channel would still have to divest nearly 100 stations in 37 markets. Radio One could acquire 12 stations from Clear Channel, which would allow Radio One to draw more African-American listeners than any other media vehicle targeting that audience, including BET. The acquisition would double the size of Radio One, including obtaining a station in Los Angeles, the fourth largest African-American market in the United States.
Benefits and Risks of Acquisition The acquisition would allow Radio One to acquire stations in the top 50 African-American markets. Radio One has always produced broadcasts that target that group, which is the largest minority group in America. Based on the information from the case, the African-American minority group is expected to experience 60% faster population growth than the general population. The minority group has also experiencing 150% faster income growth between 1980 and 1995. African-Americans listen to the radio on average 24% longer than the general population. That information is favorable to the acquisition decision, as the new markets should experience an increase in advertising revenue. One concern is that
1. The nation is at war, and your number in the recently reinstated military draft has just come up. The problem is that, after serious reflection, you have concluded that the war is unjust. What advice might Socrates give you? Would you agree? What might you decide to do? Read the Introduction, Chapter 2 Crito and the Conclusion Chapter 40 Phaedo by Plato.
In the short story by John Cheever called "The Enormous Radio" it begins with Jim and Irene Westcotts appearing like the perfect American family. Cheever describes them as "the kind of people who seem to strike that satisfactory average of income, endeavor, and respectability" (Cheever 1). What is ironic about this story is the Westcotts are far from being the perfect family and the community they try to conform to is just as imperfect as the Westcotts themselves. A way the Westcotts try to live up to their society is by keeping secret the fact that they listen to the radio and attend musical events. This is because these activities were not something members of their community did. For example, Cheever says the "Westcotts differed
The criminal justice system is meant to protect the innocent, and punish those who are guilty of a crime. However, no system is perfect, and as a result, sometimes the innocent become victims of the system that was meant to protect them. How exactly do these innocent people become victims of the system? Sometimes the person gets framed, and the crime scene is staged to point a finger at them. Sometimes, there is no strong physical evidence against them, yet circumstantial evidence is used by the crown to put them away. This happened to a 17 year old boy named Adnan Syed in Baltimore, Maryland, who was imprisoned for life, for the alleged murder of his ex-girlfriend Hae Lee. Throughout the Serial podcast, Sarah Koenig is able to critically analyze information which proves Adnan’s innocence. Firstly, Asia’s letters gave Adnan an alibi for the time of the murder. Secondly, Adnan’s innocence can be demonstrated through the lack of any strong evidence and the prosecution’s use of circumstantial evidence which can be disproved. Thirdly, Jay’s constantly changing testimony is not credible evidence of Adnan’s guilt, making him innocent.
I find myself in a daze of happiness as I realize what i'm on the brisk of accomplishing. Despite the screams of thousands of drunken women in their 20s in my ears and the cringe-worthy feeling of their sweaty bodies practically compressed on mine, I’m exuberant. Not only am I exuberant in this moment, but i’m also eternally grateful for being as small as I am, without it I probably would not have been able to maneuver myself into the front and center spot at the one direction concert and fulfilled my middle school heart’s biggest desire. To most people, this achievement would seem irrelevant and insignificant, however, If you ever told 12-year-old me that, I might’ve raised hell from beneath me. Now here’s where it all began;
The movie “Radio” is the tale of a young African-American man who suffers from severe mental retardness and his journey to fame from football in the small South Carolinian town of Anderson. James “Radio” Kennedy is befriended by the T. L. Hanna High School head football coach, Coach Jones, and begins to help as an “assistant coach” of some sort. Eventually, James begins to attend Hanna High as an eleventh grade student due to the persistent efforts of Coach Jones.
We don’t see much of Jay, rather, we hear quite a lot. What we are hearing from Jay
That is, after checking the residents neither don't like the current rock-music of the WWAC radio station, nor don't like most types of music, will it be a good idea to change to a news-and-talk format, will this change really makes money for the radio station? As we all know, if a radio station considers changing from the original format to another format, it means you have to hire a whole new team. If after hiring a whole new team to make a change, and you get an increasing number of listening as you wish, then congratulations. But what if the result is opposite to what you expect? Therefore, it's better to evaluate the benefit between the before and after change. The profit, at least, needs to even the cost which you spend on
In November 2001, the costs of required rates of return on debt in the capital market are as follows:
John Cheever’s "The Enormous Radio" represents the enormous amount of hidden truths in American society of the 1940s. The problems with society during this time were hidden behind a facade of goodness; however, this false innocence becomes visible through the radio owned by the Westcotts. The radio causes the Westcotts to evolve from an innocent, naive pair who believe that everything they see is real, into individuals who realize that appearances are deceiving.
Radio Shack has been thinking of changing branding strategies, and also have new marketing slogans. If they want to stay in business they should consider lowering prices and raising the quality of their products. Last year in 2015, Radio Shack had another bankruptcy, which forced them to make the decision of joining to Sprint. Radio Shack made a good decision by joining to Sprint that way they can receive different strategies to enhance their company and to better themselves. By making alliance with Sprint, Radio Shack hopes to increase their sales and improve their management approach. In my opinion, Radio Shack should have comparable prices to their competitors and should also improve management skills. They can also train their staff to be more friendly and helpful than the other
Many authors use the personification of inanimate objects to symbolize the feelings and expressions of their characters. One example of this is in John Cheever’s short story, "The Enormous Radio." Although critics argue that the characteristics of the radio are the opposite of those of Jim and Irene Westcott, the radio actually reflects the couple’s life.
Opponents of the reallocation, mainly broadcasters argued that wireless carriers were not using the spectrum efficiently and they had alternatives to increase the capacity of the spectrum without reallocation. Gordon H Smith (President of The National Association of Broadcasters(NAB)) said that more investment in towers and infrastructure and receiving standards could maximize the large range of spectrum already allocated to them. They also did a study and released its findings that the FCC did not take into account all the various ways that wireless carriers could increase the capacity of the spectrum they already allocated. They pointed that increase use of femtocells, improved receiver standards and spectrum sharing will do the purpose. They were also concerned about the fact that the FCC could simply not renew the licenses for the broadcaster`s spectrum and they may just reallocate the spectrum for wireless broadband carriers. They were also concerned if they sue FCC, but the result may come only after a long time. Eventhough the spectrum offering by the broadcaster is voluntary, they think it may not the case in reality.
According to Stafford and Heilprin, “American Cable Communications (ACC) was one of the largest cable operators in the United States (AirThread Case).” ACC serviced roughly 24.1 million video subscribers, 13.2 million high-speed internet subscribers, and 4.6 million landline telephony subscribers. In 2007, ACC saw revenues of $30.9 billion and had net income equaling $2.6 billion. In order to adapt to the changes in the industry, ACC started aggressively acquiring smaller companies, which resulted in huge customer growth and the development of, “a strong corporate finance team with significant acumen in identifying, valuing, structuring, and executing corporate control transaction (AirThread Case).” That being said, ACC has set its sights on yet another company--AirThread Connections--with the expectation of further revenue growth and customer acquisition and retention.
In the previous project assigned to me, I completed a SWOT analysis of Sirius XM Radio where it was noted that the Sirius XM is firmly at the top of its industry. For the purposes of this project, I went through the financial statements of Sirius XM as well as computed several key financial ratios to indicate Sirius XM’s profitability, growth, performance, and efficiency amongst other things. I then compared these ratios to the industry averages as well as with Sirius XM’s top competitors. After completing this close analysis, I found that although Sirius XM is enjoying incredible growth and a strong place in the market, there are still several flags that an investor should still note.
Radio is an ideal media for marketing fast moving consumer goods because it can reach wide targeted listener demographics in urban territory. A large number of people listen to radio while traveling in urban areas and respond to the broadcast of various commercial messages.