Top 10 Radio Brokers for 2019- skip to pages 4 & 5 to read more about Beth Griffin.

1. FALL 2019 · RBR.COM
F A L L 2 0 1 9
C O N T E N T S
17 Folly Or Futurist?
An AM radio station in Frederick,
Md., that some thought was
nothing more than a play toy for
Hubbard Broadcasting Senior
Broadcast Engineer Dave Kolesar
may actually be one of the keys to
the ultimate survival of kHz-band
stations in North America.
16 CBD: A ‘Crazy Big Deal’
For Radio?
CBD is cannabidiol, as in cannabis
oil. And it’s one of the most asked-
about topics by radio industry
leaders who have spoken in recent
weeks to Wiley Rein attorney Ari
Meltzer. Here’s what you need to
know today on tomorrow’s hottest
potential revenue generator.
19
The Deal Flow:
Deregulation, Or Else?
Many believe loosening – or
eliminating – the local ownership
caps for radio will be a boon for
radio deals. Others, including
iHeartMedia, say no. What’s
the take from D.C., and two big
communications law firms?
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America’sTopBrokers
andAttorneysRBR+TVBR, the publication dedicated to the business of broadcast
media, is pleased to introduce an inaugural look at America’s Top
Brokers and Attorneys — a reader-generated Honor Roll saluting the
individuals shaping the future of broadcast media.
This alphabetical Honor Roll is determined by an RBR+TVBR reader poll and evaluated by the Radio + Television Business Report
editorial board to ensure all are qualified and meet our criteria. An overwhelming response was seen, with hundreds of industry
leaders and legal professionals sending in their nominations.
This inaugural list salutes the individuals shaping the future of broadcast media. For this first-ever Honor Roll, the list is not
ranked, as we wish to honor each nominee equally in 2019.

4. 4 · RBR.COM · FALL 2019
MICHAEL J. BERGNER
President, Bergner & Co.
Boca Raton, Fla.-based Michael J. Bergner has been
providing his deal-making expertise to media since 1987.
Formerly a practicing corporate tax attorney, Bergner became
a media broker two weeks after the stock market crashed in
1987. In the nearly 32 years since the days of Wall Street and
famed film character Gordon Gekko, Bergner has handled more
than $1 billion in transactions. These transactions have included
radio and TV stations, broadcast towers, print media and digital
businesses.
For Bergner, the one thing that is most vital to the future
success of the radio industry is “the focus on being local.” He
says, “Radio gets great results for local advertisers, as stream-
ing services cannot compete with the local service that radio
provides. Developing a strong local sales team will have a big
advantage in any economic environment.”
ELLIOT EVERS
Managing Director, MVP Capital LLC
If there’s one thing Elliot Evers may have in common with
Michael J. Bergner, it is the date he co-founded his media bro-
kerage, today known as MVP Capital: the San Francisco-based
firm dates to 1987. Under Evers’ leadership, MVP has managed
deal volume in excess of $3.5 billion — including former CBS
Radio properties. His most recent engagement is serving as
the divestiture trustee for the Cox Media Group/Apollo Global
Management radio deal. The firm today has 30 employees
spread across five offices.
“What the radio industry needs most now is top-line revenue
growth,” says Evers. “Whether this comes from NTR, digital, bet-
ter pricing due to deregulation and consolidation, or podcasting
and other ancillary services, the industry needs to show the
investment community forward motion in order to attract fresh
capital and boost trading multiples.”
To say he’s a fan of “modernization” of the FCC’s local media
ownership rules would be an understatement. “Hopefully, the
FCC will adopt the NAB’s deregulatory proposals and rid the
industry of antiquated regulations that prevent radio from hav-
ing a level playing field when competing with other services in
the audio marketplace,” Evers says.
BETH GRIFFIN
Principal Owner, Griffin Media Partners
From 1990 to 1992, Beth Griffin was an account executive
in the Los Angeles headquarters of Radio & Records. She would
THE TOP 10 BROKERS
As we review the top brokers in the U.S. as determined by the readers of RBR+TVBR, each broker was asked to answer one
question: What is the one thing that is most vital to the future success of the radio broadcasting industry, as you see it?
Their responses, where given, appear with their brief biographies below.

5. FALL 2019 · RBR.COM · 5
later hold sales positions at Billboard and at iHeartMedia-owned
Inside Radio. Today, she’s celebrating her 13th year overseeing
Griffin Media Brokers — an endeavor she says made her firm a
top media broker in the nation based on the number of financial
transactions, as determined by SNL Kagan.
Griffin says it’s her first-name-basis knowledge of key
decision makers and her knowledge about their companies,
combined with her professional people skills, that have
made Griffin Media Brokers a successful anomaly in a male-
dominated industry. In fact, she is the lone solo female
nominee among the Top 10 Brokers.
So, what is the one thing that is most vital to the future suc-
cess of the radio broadcasting industry, as Beth Griffin sees it?
“Keeping radio local — bring back DJs, the only entertain-
ment that is free!”
GREG GUY
Managing Partner, Patrick Communications
Before 1999, Greg Guy
was a research analyst at the
NAB. That knowledge has
certainly paid off for Guy,
who took the role of Director
of Research and Marketing
at Patrick Communications.
Today, he’s a Managing
Partner who has personally
brokered over 300 radio and
television transactions, val-
ued well in excess of $1 bil-
lion, over the past 20 years.
“In an exploding world
of audio content options,
broadcasters must continue
to differentiate themselves to
be successful,” he says when asked what is most vital to radio’s
long-term success. “With new companies delivering on-demand
music, playlists and long-form audio directly to consumers,
radio must adapt to these changes while maintaining the con-
nection with the listeners. For many broadcasters this means
continuing to invest heavily in local content. Broadcasters are
uniquely positioned to serve as content companies that touch
their listeners in a variety of ways, maximizing engagement and
expanding revenue opportunities. In an era of increased com-
petition, cost savings are attractive in the short term, but those
who are able to invest in differentiating their content are the
ones who will thrive going forward.”
BOB HEYMANN
Director, Media Services Group
Remember “FM
99, The Quake” — a
San Francisco modern
rock station of the
early 1980s featuring
Alex Bennett and Joe
Regelski in morning
drive? If you do, you
know who managed
the station still remem-
bered by many in the
Bay Area: Bob Heymann.
Today, Heymann
serves as a Chicago-
based broker for Media
Services Group, a role
he’s held since 2008. Heymann has bought or sold dozens of
radio stations, TV stations and towers for clients of the firm,
highlighted by co-brokering the radio portion of the $415 mil-
lion Gray Television acquisition of Schurz Communications in

6. 6 · RBR.COM · FALL 2019
2016 and the sale of the Poole Tower Complex at Mt. Wilson in
Los Angeles.
Before joining Media Services Group, Heymann spent 24
years in the media brokerage business in Chicago. Some of the
deals he was involved in: the $165 million sale of WNIB-FM (now
WDRV-FM) in Chicago and the $54 million sale of KOMA-AM & FM
in Oklahoma City.
Heymann is also one of the youngest persons in history to
be awarded a First Class Radio Telephone Operator License by
the FCC, having become interested in broadcasting at the age of
14. When not working, Heymann is an avid golfer and a Chicago
Bears fan, and he bleeds Carolina Blue, as he is a graduate of
the University of North Carolina at Chapel Hill.
What does he see as the one thing that is most vital to the
future success of the radio broadcasting industry?
“Growth of radio industry revenue,” he says. “Somehow,
either through regulatory relief, new technologies or some other
means, radio has to grow its overall revenue despite the enor-
mous competition it now faces from all the new sources of audio.”
FRANK HIGNEY
VP, Kalil & Co.
Of the media broker-
ages active in the U.S.,
Kalil & Co. has emerged
as one of the biggest in
terms of dollars and vol-
ume. Several of its brokers
received nominations from
RBR+TVBR readers, includ-
ing Todd Hartman, Frank
Kalil, Fred Kalil and Lou
McDermott. While all have
excelled in their roles, it is
Kalil VP Frank Higney — a
27-year media brokerage
veteran — who got the larg-
est nod from the radio and
television broadcasting industry.
Over his time at Tucson-based Kalil & Co., Higney has
participated in negotiations and sales for thousands of radio and
television stations, worth billions of dollars. He’s also made his
mark as an expert witness before the Federal Communications
Commission, as well as Federal Bankruptcy and state courts.
Prior to joining Kalil & Co., Higney served as COO at BIA
Consulting, the largest appraisal firm serving the broadcast
industry.
“It appears to me that it is critical the radio industry
embrace and develop the digital side of the business,” Higney
says. “This is now where the bulk and future growth of
advertising dollars exist. Radio sales executives must have the
skills and ability to add a digital component to their mix to
satisfy any and all clients.”
MARK JORGENSON
Partner, Jorgenson Broadcast Brokerage
In 1976, after two years
as a Peace Corps volunteer,
Mark Jorgenson took his first
professional post-college
job, becoming a local AE
for WXII-TV, the NBC affili-
ate serving Winston Salem
and Greensboro, N.C. He’d
go on to TV station roles in
Cincinnati, Miami and Tampa
before becoming a part-
owner, in 1987, of the first
Hispanic radio station serv-
ing Tampa-St. Petersburg.
From this experi-
ence, a broker was born,
as Jorgenson in 1990
— while serving as COO of the former ZGS Broadcast Holdings —
launched his broadcast media brokerage. During that time, he’s
also been a station owner, including with the Concord Media
Group. His Synchronous Media Group owns and manages broad-
cast tower sites, and he was VP of the National Association of
Media Brokers from 2009-2015.
With such a strong background in media and his recent
involvement as the broker of record in Salem Media Group’s
August 2019 sale of nine AMs and four FM translators to
Relevant Radio parent Immaculate Heart Media, Jorgenson
believes it is vital for radio to provide compelling and meaning-
ful content that engages the audience.
This, he says, will ensure its long-term success.
LARRY AND SUSAN PATRICK
Managing Partners, Patrick Communications
While this first-ever reader-driven Honor Roll is not ranked,
RBR+TVBR received an unprecedented level of nominations for
two individuals who are among the most beloved and respected
in the media brokerage community.
While Larry Patrick is one of the most ubiquitous figures in

7. FALL 2019 · RBR.COM · 7
the world of buying and selling of radio and TV stations, his wife,
Susan Patrick, has been equally integral in building a brokerage
that has a track record of 600 radio and 165 TV transactions
worth more than $8 billion. Patrick Communications also
specializes in station valuations, tower sales and expert testimony.
In addition to their brokerage activity, the couple operate
23 radio stations in Wyoming and a digital marketing company
and hold a minority interest in 11 large-market television
stations. Furthermore, both have been very active in industry
associations, with Susan serving six years on the NAB Radio
Board and Larry serving as Director and Chairman of the NAB’s
Leadership Foundation. Larry also served as President of the
National Association of Media Brokers. Both are very active with
a number of orphanages, schools and medical charities in the
United States and in several African countries.
What is the one thing that is most vital to the future success
of the radio broadcasting industry, as Larry and Susan Patrick
see it?
“We believe it is local innovation,” they respond. “Whether
that means podcasts by your staff, aggressively providing digi-
tal marketing solutions for your clients or finding new ways to
become the entertainment and information center for your mar-
ket, all are important. It takes trying new things, keeping what
works and constantly trying to reinvent your stations. Your sta-
tions are so much more than radio. But they still need that local
focus and connection.”
ROGER RAFSON
President, CMS Station Brokerage
“What a thrill to be honored
by people in our industry!”
Pittsburgh-based Roger
Rafson was delighted to learn
of his honor from the readers of
RBR+TVBR.
Not bad for an industry
veteran who began his career
in radio when he was 11 years
old, as a studio engineer for
high school football games on
WEEF-AM & FM in Highland
Park, Ill. When his voice
changed, they let him go on the
air as a disc jockey.
Rafson first got involved in
advertising sales in 1975, selling
for Classical WEFM-FM in Chicago. After graduation from the
University of Illinois in 1980, Rafson sold television advertising
in his native Chicago for TeleRep, a national rep firm. Before
establishing Commercial Media Sales (CMS), he worked in
advertising sales for KDKA-TV in Pittsburgh.
That was a long time ago. Since 2013, CMS has expanded
beyond ad services by offering radio station brokerage
services. Then, in 2013, Gen Media Partners bought Rafson’s
Commercial Media Sales unit and brought him on board as SVP
of Political/Issue Advocacy, helping foster political advertising
growth. Today, CMS Station Brokerage continues working with
broadcasters in small and medium-sized markets across the U.S.
When he’s not at GMP or brokering a deal, Rafson can
be found as the PA announcer for Carnegie Mellon University
football, men’s and women’s basketball and track and field.
“Broadcasters need to stay focused on their top-line revenue,”
Rafson says in response to our question about what will make
radio thrive in the years ahead. “Broadcasting is a business. Every
station needs to nurture a professionally managed sales team.”
GEORGE REED
Director, Media Services Group
“Radio is in trouble,” warns George Reed, who co-founded
Media Services Group in 1989 and has had an active role in radio
broadcasting since 1972. “Google, Facebook and the rest are
devouring local radio budgets.”
That is why he believes the one thing that is most vital
to the future success of the radio broadcasting industry is
deregulation.
“Our local competitors, TV and newspaper, have already
been deregulated by the FCC,” he says. “Yet radio ownership
rules are the same today as in 1996, when neither Google,
Facebook or the iPhone had been invented. The world has
changed. We now face competition from Spotify, Pandora and
SiriusXM Satellite Radio.
“There is hope. The FCC recognized the problem and is
considering action (thank you, Chairman Pai). I believe that
our long-term survival hangs on their decision. I encourage all
broadcasters to let your voices be heard.”
Strong words from an individual who entered the brokerage
business in 1987, with Chapman Associates. Reed has completed
over $1 billion in transactions and served as Managing Director
of MSG from 2004 through 2017.
Reed’s practice includes radio and TV station and tower
brokerage, valuations, investment banking, and workout
restructuring consulting. He also owns and operates six radio
stations in Charlottesville, Va., and five in Blacksburg, Va.,
through his Monticello Media, as well as cell tower company
USAntenna, with towers in Alabama, Georgia and South Carolina.

8. 8 · RBR.COM · FALL 2019
DAN J. ALPERT
Attorney
When one’s personalized license plate reads “COMMLAW,”
talking regulatory policy for radio and television broadcasting
is serious business. That’s likely a key reason Dan J. Alpert
has been selected as one of the nation’s top attorneys by
RBR+TVBR readers.
Alpert’s enthusiasm
for the broadcasting field
began as he followed
the career of his brother,
former ABC Radio
Correspondent David R.
Alpert. It continued at
Northwestern University,
where he was part of the
on-air newscast staff at
campus radio station
WNUR. At the George
Washington University
National Law Center,
Alpert first became
exposed to coursework in
broadcast regulation.
He moved into the
field of communications law in 1983 at communications law firm
Fletcher, Heald & Hildreth. Alpert then practiced law at two full-
service corporate law firms before establishing his own legal
practice in 1992, focusing entirely on communications law.
Well-known as a workaholic by his clients and friends, he
works literally day and night to get his clients’ applications filed
and granted and their FCC problems solved. His other big “claim
to fame” is that he is a former 20-plus-year member of the
Washington Redskins Marching Band.
And what does he see as the one thing that is most vital to
the future success of the radio broadcasting industry?
“Radio must actively embrace new technologies,” says
Alpert. “Nothing prevents broadcasters from doing things such
as supplementing their advertising dollar with a well-run web-
site (which also can generate advertising dollars), podcasts,
active involvement in interactive social media, and live video
internet feeds, all of which can add an element of excitement
and a sense of ‘community’ to stations’ broadcasts.
“The radio broadcasting industry must continue to embrace
its roots, but also evolve and react to changing times and new
public preferences. I proudly represent predominantly local,
community-based broadcasters. Local radio can be a strong
part of multi-media buying strategies, while emphasizing the
particular aspirations and ideals of the local community.”
SALLY BUCKMAN
Member/Manager, Lerman Senter
Sally Buckman particularly enjoys helping clients structure
complex transactions to ensure compliance with FCC ownership
restrictions and navigating the intricacies of complex opera-
tional agreements.
That’s a big reason she’s been selected as one of the Top 10
Attorneys by RBR+TVBR readers.
Buckman specializes in regulatory and business issues fac-
ing companies in the media industry and has represented clients
involved in all facets of media, including large publicly traded
broadcast companies, group owners, large and small family-
owned media companies, a national radio network, investment
companies, lenders and on-air talent.
Buckman has extensive experience in handling transactions
and complex agreements for media companies and also drafts
and negotiates syndication and programming agreements,
retransmission consent agreements, sports rights agreements,
tower leases and other business documents for media companies.
What’s the one thing she thinks is most important to
securing radio’s long-term success? “Because the radio broad-
cast industry has changed dramatically in the past several
years, with Google, Facebook, Pandora, Spotify and other
large, unregulated companies competing directly and success-
fully for ad dollars and listeners, it is critical that the owner-
ship restrictions faced by radio broadcasters be relaxed, par-
ticularly in smaller markets, so that radio broadcasters have
the resources necessary to continue to provide exemplary
local service to their communities.”
THE TOP 10 ATTORNEYS
The nation’s best attorneys, as voted on by RBR+TVBR readers, were also asked about the one thing they believe is most
vital to the future success of radio broadcasting. Their answers appear below, in our alphabetical Honor Roll.

9. FALL 2019 · RBR.COM · 9
JOSEPH CHAUTIN III
Member, Hardy Carey Chautin & Balkin
Joseph C. Chautin III represents radio and television
broadcasters in regulatory and compliance matters as well as
transactions and sophisticated private placement and bank
financing. Unlike many communications law attorneys, he’s
based far from Washington — in Mandeville, La., to be precise.
Before attending law school, Chautin served in the U.S. Air
Force; he retired as a Lieutenant Colonel from the U.S. Air Force
Reserve after 21 total years of service to the United States.
When this veteran isn’t at work, he’s a Ragin’ Cajun who
professes to be a humorist and “swim dad.”
JOHN GARZIGLIA
Partner, Womble Bond
Dickinson
John F. Garziglia got his
start in the industry, as did many
other radio professionals, by
spending more time at his St.
Louis University college radio
station than in classes. Between
college and his first job as an
FCC lawyer, Garziglia’s love for
radio translated to on-air roles
at stations in St. Louis and in
Washington, D.C., where he also
served as a program director.
This provided a foundation
for helping broadcasters with
legal advice and acting as a
conduit between the FCC and the
AM and FM stations it regulates.
Garziglia’s legal career began
in early 1983, with the processing of radio station assignment
and transfer applications in the FCC’s former AM branch. He
later moved to the FCC’s Hearing Branch with responsibility for
license renewal and revocation proceedings.
Garziglia was lured out of the FCC in late 1984 to join a bou-
tique firm in D.C., Pepper and Corazzini, which in 2002 merged
with the firm now known as Womble Bond Dickinson. Some 35
years later, Garziglia continues to devote his practice to repre-
senting broadcasters and broadcast stations of all sizes and in
many different markets.
Of those receiving nominations, Garziglia was an over-
whelming favorite. Much of this industry recognition is tied to
his work on, among other things, spearheading AM revitalization
by enabling numerous AM stations to acquire FM translators and,
most recently, assisting a group of 82 broadcasters in seeking to
reduce burdensome FCC EEO paperwork. He also guides stations
in mergers and acquisitions, license renewals, FCC auctions, and
licensing and regulatory compliance matters.
What is the one thing that is most vital to the future success
of the radio broadcasting industry, as he sees it?
“Our industry’s future success depends upon radio continu-
ing to be everywhere,” says Garziglia. “Radio must not lose its
ubiquity. In the home, in the workplace, in the car and every-
where else, radio must remain available and accessible. Radio’s
unique franchise used to be based upon its transmitters and
receivers. Radio’s future now depends upon being able to listen,
no matter where or when, to my local radio stations.”
KATHLEEN KIRBY
Partner, Wiley Rein LLP
Kathy Kirby is a partner and co-chair of the Telecom, Media,
and Technology group at Wiley Rein LLP, where she also sits on
the firm’s Executive Committee. Since graduating from law school
in 1991, Kirby has represented media clients including major
radio and television group owners and programming networks as
a trusted adviser on myriad business and transactional issues, as
CONGRATULATIONS TO OUR
FRIEND AND COLLEAGUE
SALLY A. BUCKMAN
ON YOUR SELECTION AS ONE OF RBR+TVBR’S
TOP TEN COMMUNICATIONS ATTORNEYS FOR 2019.
YOUR RECOGNITION IS WELL DESERVED. WE
SALUTE YOUR HARD WORK, DEDICATION, AND THE
IMPORTANT CONTRIBUTIONS YOU MAKE TO
OUR CLIENTS AND THE MEDIA INDUSTRY.
Lerman Senter iS a top-rated Law firm that provideS cLientS in the media induStry with comprehenSive and practicaL SoLutionS to LegaL iSSueS
WWW.LERMANSENTER.COM

10. 10 · RBR.COM · FALL 2019
well as regulatory matters before the FCC.
Kirby has been proud to advise a host of radio and
television broadcasters over the years, including Emmis
Communications, Alpha Media, iHeartMedia, Salem Media Group
and Liberman Broadcasting.
Since she’d grown up as a junkie for the New York media
market, it was only natural that Kirby’s main extracurricular
activity at the University of Virginia was the radio station. After
graduating, she honed her broadcast business skills with a
number of companies in New York and Connecticut, including
positions in news, programming and sales, and eventually
married them to a law degree and a scholarship from Catholic
University’s Communications Law Institute.
Kirby also serves as counsel to the Radio Television
Digital News Association, through which she is involved in First
Amendment policy and access decisions that impact the media
every day.
Commenting on the present and future of broadcast radio,
Kirby remarks, “I’ve been around the radio industry for many
years, and have been amazed, but not surprised, at its resilience.
There is something so unique and compelling about an audio
service. The industry will need to address how to hold on to
longtime listeners and advertisers while appealing to new ones,
whether through digital offerings or otherwise.
“At the same time, the government should carefully consider
allowing companies to reach the scale necessary to achieve a
higher growth profile and foster an entrepreneurial culture,
while maintaining the unique local community service that
has been the hallmark of radio since I fell in love with it while
listening on my AM transistor decades ago.”
ERWIN KRASNOW
Of Counsel, Foster Garvey P.C.
On Sept. 1, Garvey Schubert Barer merged with Foster
Pepper, becoming Foster Garvey. That hasn’t impacted one of
Washington’s senior communications law experts and attorneys,
Erwin Krasnow.
Krasnow counsels and represents radio and television
broadcasters, tower owners, financial institutions and trade
associations in administrative, legislative and transactional mat-
ters. He advises clients on a wide array of issues, ranging from
new technologies to lobbying strategies. Krasnow concentrates
on transactional matters and has represented sellers and buy-
ers of broadcasting, cable, tower and telecommunications prop-
erties in transactions totaling in excess of $21 billion.
Krasnow formerly served as SVP and General Counsel of
the NAB and as administrative assistant to the late Rep. Torbert
H. Macdonald, a former chairman of the House Communications
and Power Subcommittee.
The author of 23 books, Krasnow is a frequent
contributor to RBR+TVBR. He was inducted into the Minority
Media and Telecommunications Council’s Hall of Fame
for “extraordinary service to the cause of diversity and
inclusion in the media and telecommunications industries.”
Additionally, the Broadcasters Foundation of America has
named him the recipient of the Ward L. Quaal Pioneer Award
for “excellence in broadcasting.”
“That’s a great question — and I do not have a succinct,
convincing answer,” Krasnow responds when asked what one
thing is most vital to the future success of radio. “Part of the
reason is that the radio broadcast industry cannot be painted
with a broad brush. Talk radio’s challenges and future are
different than mainstream CHR’s or Country’s or Rock’s ... and
ethnic formats (African American and Latino) have their own
sets of bullet points.
“The one thing I do know is that audio has to be compelling
and personal, but by definition broadcasting cannot target as
narrowly as internet radio’s on-demand and specialty podcast
content. Therein lies the rub.”

11. FALL 2019 · RBR.COM · 11
FRANCISCO MONTERO
Managing Partner, Fletcher, Heald &
Hildreth
“Wow! This is a huge honor. Thank
you so much.”
Among the readers of RBR+TVBR,
a big ¡Gracias! has been given to Frank
Montero for his work in Washington,
D.C., on behalf of radio and television
companies across the mainland U.S. and
in Puerto Rico.
Montero is a partner with
respected communications law firm
Fletcher, Heald & Hildreth, specializing
in telecommunications, broadcasting,
media and technology. His practice
includes FCC regulatory counseling,
corporate finance, asset and securities
acquisitions, intellectual property, and
real estate and commercial transactions.
Montero is an appointed member of the Federal
Advisory Committee on Diversity for Communications in
the Digital Age and served as Director of the FCC’s Office of
Communications Business Opportunities during the Clinton
Administration. While at the FCC, Montero worked extensively
with industry, trade associations, financial institutions and
governmental agencies to create business opportunities for
entrepreneurs and technology and
telecommunications start-ups. He was
even recognized by the then-Chairman
of the FCC for “dedication to bridging
the digital divide.”
Montero is a regular presence at
the annual Hispanic Radio Conference.
That’s fitting, as among his many roles
for the benefit of Spanish-language
radio is as the Washington, D.C., legal
representative for the Puerto Rico
Broadcasters Association. Montero has
been inducted into the Minority Media
and Telecommunications Council’s Hall
of Fame, too.
What is the one thing Montero
believes is most vital to the future
success of the radio broadcasting
industry?
“The success of radio will hinge on
a willingness to accept and adapt new
technologies,” he says. “Audio entertainment is growing rapidly
through podcasts, streaming services, mobile apps and satellite-
delivered content. Traditional terrestrial radio should not feel
threatened by these but should embrace them and diversify
their delivery platforms. One radio executive I recently spoke to
said to me, ‘We are not in the radio industry, we’re in the audio
content business.’ I think that nailed it for me.”
WE’RE PROUD
OF YOU!
Congratulations to Frank Montero and Peter Tannenwald
on being named by Radio + Television Business Report to its list of Top Ten Broadcast Attorneys!
Frank Montero
montero@fhhlaw.com
(703) 812-0480
Peter Tannenwald
tannenwald@fhhlaw.com
(703) 812-0404
Fletcher, Heald & Hildreth provides comprehensive legal services for broadcasters, partnering with clients to
execute strategic transactions, innovative solutions, and resolve regulatory concerns. Our attorneys possess a
unique understanding of technology, industry, business, and Federal law – derived from decades of experience.

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14. DAVID OXENFORD
Partner, Wilkinson Barker Knauer
In a time when social and digital media presence mat-
ters more than ever before, David Oxenford is a thought leader
and influencer with few peers. With a blog that’s read by many
and public speaking appearances that regularly draw crowds,
Oxenford’s place among The Top 10 Attorneys is hardly a surprise.
Oxenford has represented clients in Washington, D.C., for
more than 35 years, advising them on regulatory matters and
on transactions. He also works with digital media companies
navigating music licensing, copyright and other content issues.
Oxenford’s interest in broadcasting began in college, where
he managed The College of William and Mary’s student-run radio
station and helped shepherd its application for a significant
power increase through the FCC. After graduation, when many
of his college friends went on to own and operate radio and TV
stations, he became their lawyer.
Today, Oxenford works with everyone from mom-and-pop
broadcasters to public companies, trade associations, finan-
cial institutions and other broadcasting and digital media
organizations and individuals. Among his biggest clients of
late is Educational Media Foundation, owner of the Christian
Contemporary Music networks KLOVE and Air1.
JESSICA ROSENTHAL
Partner, Wiley Rein
“I think the industry’s future success will depend in large
part on an ability to quickly adapt to and successfully utilize and
implement new technology and innovations that become available
in order to best position broadcasters with respect to their
listeners, advertisers, vendors and the financial markets.”
That’s the quick take from Jessica Rosenthal on the
biggest thing needed to secure the future success of radio
broadcasting in the U.S. In her time at Wiley Rein, she’s
served as the lead transactional counsel for a non-commercial
broadcaster combining operations with another non-
commercial broadcaster to establish a multi-platform public
media organization. She has also been the lead transactional
counsel representing various non-commercial broadcasters in
their acquisitions and divestitures of radio stations, as well as
in strategic combinations to enhance operations.
Rosenthal assists clients in asset acquisitions, dispositions
and exchanges, debt and equity financing transactions, and
other corporate matters, specializing in mass media/broadcast
transactions. She has negotiated, drafted and closed hundreds
of radio and television transactions, ranging in price and
complexity. In addition, Rosenthal has broad experience in
tower sales and leasing matters for a variety of clients. She has
also drafted and negotiated a variety of agreements for non-
commercial broadcasters to implement strategic combinations
to better serve their communities.
Rosenthal has been with Wiley Rein since October 1999,
joining the firm upon earning her Juris Doctor from the George
Washington University Law School.
14 · RBR.COM · SUMMER 2019

15. SPRING 2019 · RBR.COM · 15
PETER TANNENWALD
Of Counsel, Fletcher, Heald & Hildreth
Peter Tannenwald became hooked on broadcasting as a
fifth-grader after a year of on-air participation in a live instruc-
tional TV show broadcast by WRC-TV in Washington, D.C. After
earning degrees from Brown University and Harvard Law School,
he joined the U.S. Coast Guard Reserve and then moved on to a
law career that has continued for 52 years.
Tannenwald joined Fletcher, Heald & Hildreth in 2008,
after 27 years with one of one of Washington’s 10 largest law
firms and 12 years as a named principal of Irwin, Campbell &
Tannenwald. In addition to a broad range of radio and television
broadcast station groups and individual station owners and
common carrier and wireless clients in both regulatory and
transactional matters, he has represented inventors and
developers of new technologies and has helped implement
several such technologies, including wireless auditory assistance
devices for persons with hearing loss, the use of AM broadcast
stations for power utility load management, visual captions on
television broadcasts, construction of the first public television
satellite distribution system and compatibility of cellphones.
Tannenwald also served for 44 years on the Board of
Directors of a non-profit corporation that owned WBRU-FM in
Providence, a former commercially licensed radio station man-
aged by students at Brown University.
What does he see as the one thing that is most vital to the
future success of the radio broadcasting industry?
“The continuation and preservation of intensely local service,
relevant to the lives of listeners, provided by real people,” says
Tannenwald. “Real people, who understand and know how
to respond to the hopes, desires and needs of their audience,
should be able to provide rewarding content that the online
computers with which they now have to compete won’t be able
to match.”
ABOUT RBR+TVBR’s TOP BROKERS AND ATTORNEYS: This
inaugural Honor Roll is produced exclusively from RBR+TVBR
reader nominations, which were gathered in July and early
August 2019. Individuals are represented equally, in alphabetical
order, rather than by ranking, to demonstrate each honoree’s
contributions to the industry. © 2019 Streamline Publishing.
SAVE THE DATE
March 25-26, 2020
INTERCONTINENTAL AT DORAL
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For more information, visit hispanicradioconference.com.
Platinum Sponsor:
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Sponsor:

16. 16 · RBR.COM · FALL 2019
CBD. No, it’s not a Canadian Talk
radio station. Rather, CBD is can-
nabidiol, as in cannabis oil. And
it’s one of the most asked-about
topics among radio industry
leaders. What you need to know
today on tomorrow’s hottest rev-
enue generator could put you a
step ahead of your competitor.
Drive over the Columbia River from
Portland, Ore., to Clark County, Wash.,
and within 20 minutes one can reach
Main Street in the small city of Vancouver.
The most prominent business on a street
in need of some revitalization? Main
Street Marijuana, a recreational vendor of
all things cannabis.
Main Street Marijuana, like all other
businesses of its kind in Washington, is a
cash-only affair, with a complex method
of allowing customers to enter and pur-
chase everything from edibles to the fin-
est smokable green bud.
What if Main Street Marijuana wanted
to advertise on a local radio station?
Whoa…
The very idea is a controversial one,
but one that has been widely discussed.
The bigger topic isn’t “pot” or “grass,”
however. It’s CBD.
Radio broadcasters are inquiring
about what sort of advertising they can
accept, and what they must decline, with
respect to CBD vendors. Many have spo-
ken in recent weeks to Wiley Rein attor-
ney Ari Meltzer.
What are the issues regarding CBD
ad acceptance? Will it take regulatory
policy changes to get a CBD ad on a
radio station, even in a locale where
state law makes the recreational use of
marijuana legal?
Meltzer says, “We are getting a lot
of questions these days regarding CBD,
which makes sense. It is a new and up-and-
coming ad stream, and radio represents an
attractive platform to do that — and also
potentially legitimize their business.”
In fact, Meltzer says, radio is a much
more effective medium for CBD vendors
than television. “Radio provides an oppor-
tunity for better targeting and perhaps
more attractive rates or packaging. But,
looking at broadcast more broadly, it still
remains the gold standard in terms of
advertising. When someone hears a radio
spot, it creates a strong impression that
this a real, legit business. There is still
a general distrust that anybody can put
anything online.”
It also explains why auto dealer
associations, political candidates and other
businesses remain big users of radio.
WANTED: A WAY TO MONETIZE
For Meltzer, radio station owners
have usually approached him with two
questions:
• Can I take the CBD ad?
• If not … how could I take the CBD ad?
How does Meltzer respond? First, he
notes that Wiley Rein’s advice is continu-
ally being refined. Why? “It is still an area
where broadcasters can tread very care-
fully,” he says.
The most important thing for a
broadcaster to understand today is
that state legislatures have been taking
the lead on marijuana-related legisla-
tion. Scott Flick, a partner at Pillsbury
Winthrop Shaw Pittman LLP, says some
may be confused by this simple fact.
“The short answer is that it requires
the cooperation of State and Federal
governments,” he says. “The challenge
is that under the Farm Bill, you can have
CBD legally on the market, but there
is a pre-condition that it needs to be
produced from hemp product.
“Thus, there is a regulatory process
that needs to be put in place to ensure
it is hemp CBD from a legally recognized
farm. That is a challenge, as the Federal
government has not moved forward on
this.”
And, Flick adds, it is a complex mat-
ter in that it is both a Federal and state
issue, and broadcasters “live or die by a
federally authorized license.”
Flick points to some stations that
took money from CBD vendors at a
time when auto dollars fell, but later
stopped out of fear. In a way, he sees
CBD advertising as similar to that for
weight-loss products. “You don’t turn
down all of them,” he says. “But if
someone says to stop because of false
claims, you do.”
As the debate over the legality
of CBD ads on radio stations using
federally administered airwaves won’t
likely abate, some crafty GSMs may
decide that a radio station’s digital
home is “safer.”
That’s not exactly the case.
“Whether or not that is through a
website or through a radio station, you
could still be accused of aiding and
abetting the sale of an illegal product,”
Flick says.
CBD:A‘CrazyBigDeal’forRadio?
ARI MELTZER SCOTT FLICK

17. FALL 2019 · RBR.COM · 17
FollyorFuturist?
A top Hubbard Broadcasting
engineer places his bets on HD
Radio for an AM lifeline.
For many across the radio broad-
casting industry, the concept of “AM
revitalization” — as championed by
FCC Chairman Ajit Pai — has little to do
with any enhancement, improvement
or upgrade of an existing kHz-based
facility. Rather, the focus has been on
that 250-watt FM translator designed
to bring a bigger audience to a station
on what many consider to be a dying
broadcast band.
In some countries, where AM was
defined as “Medium Wave,” all radio sta-
tions were permanently silenced and their
programming shifted to DAB.
The U.S. failed to make that happen
years ago, preferring in-band, on-channel
HD Radio implementation, which until
recently was hardly as successful as what
transpired in Western Europe.
Now, HD Radio could be seen as a
savior for AM radio — but not for those
stations’ transition to FM radio multicast
channels or anything like a DAB band as
seen in Germany or the United Kingdom.
HD Radio technology in the form
of digital-only AM broadcasts is being
explored as the technical salvation for a
broadcast band many younger audio con-
sumers don’t even know exists.
Championing this possibility are two
companies. One is based in Texas. The
other is headquartered in Minneapolis
and has a formidable presence in the
nation’s capital.
It is at the latter company, Hubbard
Broadcasting, where its Senior Broadcast
Engineer, Dave Kolesar, just may be
bringing to life the biggest technical
advance to AM radio ever seen.
FROM HOBBY TO LOBBY
At the center of Hubbard’s grand experi-
ment, overseen by the Washington, D.C.-
based Kolesar, is “The Gamut.”
That’s the branding associated
with the most eclectic Adult Album
Alternative radio station you’ve likely
ever heard, based at Class B WWFD-AM
820 in Frederick, Md. WWFD’s signal cov-
ers nearby Hagerstown and stretches to
Montgomery County, Md., and much of
Fairfax County, Va., during daylight hours.
It has an FM translator at 94.3 MHz
in Frederick, and can be heard closer to
the White House at 98.3 MHz — a second
translator using a feed off of an HD mul-
ticast signal tied to top-rated all-News
WTOP-FM 103.5.
The genesis of Hubbard’s AM digital
experiment is a 10,000-song-plus inter-
net-only radio station created by Kolesar
several years ago as a hobby.
When Bonneville International Corp.
sold its Washington, D.C., properties to
Hubbard in January 2011, it opened a
hole on WTOP’s HD3 channel, which had
been home to The Mormon Channel. By
December 2011, with Hubbard in control,
that programming disappeared.
What to put in its place? “[WTOP SVP/
GM] Joel Oxley thought it would be fun to
put what had been on a web station on
the signal,” Kolesar tells RBR+TVBR. Thus,
“The Gamut” was born.
Fast-forward roughly 15 months,
to March 2013, and Oxley and the local
Hubbard team started to rethink what
to do with WWFD. By then, it wasn’t
really targeting Frederick and had been a
forlorn simulcast of programming based
at the 1500 kHz signal that had once been
the home of WTOP and then the home of
The Washington Post Radio Network and
Talk “3WT,” and eventually became what
is today Federal News Network.
With Kolesar’s “hobby” gaining trac-
tion — meaning people were actually find-
ing The Gamut, and listening — Hubbard
placed it on WWFD.
It ran as an analog station through
July 16, 2018.
Then, a most interesting develop-
ment unfolded.
STATIC-FREE, SONICALLY
Around Christmas 2016, Kolesar started
pondering what to truly do with WWFD.
It had a decent daytime signal; it
covers a highly affluent portion of the
National Capital Area, as well as many
a Federal government employee either
driving down I-270 to Washington or tak-
ing MARC or the Metro Red Line from
Gaithersburg, Damascus, Clarksburg, and
surrounding communities.
“I started asking what can we do with
820 to make it a player, and how could we
just get it so that people could actually
want to listen to it,” Kolesar says.
The pending arrival, in July 2017, of a
Frederick translator helped immensely.
“The listeners were there and dedi-
cated, but it was just not growing in num-
ber,” he notes. “I just could not get people

18. 18 · RBR.COM · FALL 2019
to try this Triple A music format on an
analog AM.”
But what if it were broadcasting in
HD Radio?
Kolesar says, “Knowing that this
translator was coming, I thought to myself
that the AM was going to be useless.”
A thought occurred to him. “That
facility was di-plexed, and on that facility
was the iBiquity experimental station on
1670 kHz, where they were conducting
field tests for all-digital AM mode.”
This early trial of HD Radio on AM got
Kolesar excited about the possibilities for
WWFD and “The Gamut.” He says, “I knew
what all-digital AM HD could sound like,
and the thought occurred to me, ‘Why
don’t we just do that on 820?’”
A few weeks later, Kolesar headed to
Las Vegas, and the 2017 CES. Spotting the
booth for Xperi, now the purveyor of HD
Radio, he walked up, introduced himself,
and noted that he wanted to take one of
his stations all-digital — WWFD. He asked
for help.
“After the stunned reaction, a lot
of planning and coordination, engineer-
ing and antenna system modifications
were done over the next year,” Kolesar
says with a laugh. Yes, they were willing
to help. They just couldn’t believe that
Kolesar was serious about, and commit-
ted to, his plan.
All that was needed was
experimental authority added to
WWFD’s license. This came, and has
been renewed once, after a progress
report was submitted to the FCC.
“This is an engineering STA for one
year, where you ask the FCC for permis-
sion to operate using the MA-3 mode,
under the condition that interference isn’t
caused,” Kolesar explains.
What did Kolesar and Hubbard learn
after one year of HD Radio’s presence on
WWFD?
“Our daytime coverage is pretty
incredible … especially in digital,”
Kolesar says. “The full digital mode,
which is the core and enhanced mode, is
receivable on an average car radio, out
to the 0.5 mv contour.”
For novices, this is purple circle one
can see when calling up a station’s reach
on popular website Radio-Locator.com.
“This is stereo audio with 15khz frequency
response,” Kolesar explains.
The outermost circle is about the
range of the “core-only signal,” he adds.
Under ideal circumstances, you’ll still
hear WWFD out to the signal contour,
with mono audio with 15khz frequency
response.
This, he found, is better than being in
analog.
It could be a game-changer for hun-
dreds of AM radio stations, in particular
those in Florida, where static from thun-
derstorms can wreak havoc on reception.
“Even in the worst of thunderstorms,
reception is still robust enough for the
average listener out to the 2mv contour,
which is the core defined listening area,”
Kolesar says, referring to the red circle
one can see on a Radio-Locator.com con-
tour map.
Among those who have heard WWFD
in HD Radio is Ari Meltzer, a Partner with
Wiley Rein. “It makes listening to music
on AM a really viable and almost indistin-
guishable experience,” he says.
INTO THE GROOVE
As far as Kolesar and Hubbard are con-
cerned, if you’re going to demonstrate a
technology, you should shatter the expec-
tation for what type of programming
you’re going to put on it.
For the eclectic music found on “The
Gamut,” the choice was near perfect.
“It sounds just as good, if not better,
than analog FM,” Kolesar swears.
Similar claims were made some 30
years ago for a technology many industry
veterans chuckle at: AM Stereo.
Where it was in use, audio quality
was extraordinary. This included the now-
defunct CJSB-AM “54 Rock” in Ottawa,
which had a nighttime signal reaching
much of Upstate New York. Alas, financial
troubles led the owners to move the sta-
tion to the FM band in 1994.
Four competing standards for AM
Stereo prevented it from getting it off
the ground. Today, the AM noise floor
would never allow AM Stereo to happen.
But with HD Radio, error correction in all-
digital broadcasts counteracts the noise
prevalent on AM band broadcasts. At
WWFD, an Omnia 7am processor with HD
option is in use.
For the listener, tuning to AM 820
in Frederick won’t be any different than
tuning to any FM station with HD Radio.
After a second or two, the HD signal will
lock, and the audio will become instantly
enhanced. “This was something we got
working just in time for the spring 2019
Nielsen Audio ratings book,” Kolesar says.
As soon as fast acquisition was work-
ing, the station’s listening reached new
heights. For the first time ever, WWFD
appeared in the Frederick, Md., Nielsen
Audio ratings.
As WWFD is still an experiment,
where is improvement needed?
“I am having trouble coming up with
areas where there is trouble, because the
coverage has exceeded my expectations,”
Kolesar says.
Where improvements may come are
with things that listeners won’t notice –
such as refining the spectral mask of the
FUTURISTContinued on 23

19. FALL 2019 · RBR.COM · 19
TheDealFlow:Deregulation,orElse?
Many believe loosening — or
eliminating — the local ownership
caps for radio will be a boon for
radio deals. Others, including
iHeartMedia, say no. What’s
the take from D.C., and two big
communications law firms?
If you’ve been an astute reader of
the Radio + Television Business Report,
you might notice that there aren’t so
many radio industry deals these days.
Or if there are any deals of significance,
they may involve a broadcast ministry.
If you never read RBR+TVBR’s daily
news updates, you still may notice a
dearth of deals in the radio broadcast-
ing industry.
Are there deals in the works?
Where is the deal-making market going
… or is it not going anywhere?
For Greg Guy, Managing Partner
of Patrick Communications, everything
is “normal” — barring any regulatory
changes. “It’s not what we’re used to,” he
says, “but the overarching theme is ‘I’m
not surprised.’ It is not much different
than it has been in the last five years.”
At Patrick, the transaction flow is
slow, but that’s relative to historical
trends. In Guy’s view, it’s the “new
normal.”
The why behind radio’s glacial deal-
making environment, highlighted by
collapsing station valuations triggered
by bargain-basement sales of Cumulus
Media stations in Los Angeles and New
York, is not so cut and dried.
Given Patrick Communications’
proximity to the nation’s capital, what
are Guy and his associates hearing and
discussing with respect to what could
trigger the next wave of radio industry
deals?
“We have a good finger on the
pulse of the brokerage community,”
Guy says. “And there’s a lot of uncer-
tainty. There will likely be no dramatic
regulatory changes ahead of the 2020
presidential election. At the same time,
the FCC is looking at its local ownership
rules and we are in the midst of the
comment cycle.”
Could a dramatic shift be coming
soon? As noted above, Guy isn’t optimistic
that any change will occur ahead of
November 2020. However, he says,
“Eventually they will come to fruition. The
rules will eventually change. It’s just a
matter of politics and where that fits into
election cycles.”
What rules change will spark the
deal-making? The AM rule change pro-
posed by the Commission? “It will not
have a dramatic effect on brokers,” Guy
believes. “There is no groundswell of
transactional flow.”
For FM station deals, how the rules
change — a big question for many — will
determine what happens.
“Will there be companies swap-
ping clusters?” Guy asks, suggesting

20. 20 · RBR.COM · FALL 2019
outright sales may not result from the
Commission’s possible local ownership
rule rewrite. “The transactional impact
on larger markets will be minimal. The
smaller-market transactional flow will
be based on capitalization out there as
an industry.”
This is perhaps the No. 1 reason
why stations such as WABC-AM in New
York and KXOS-FM in Los Angeles were
sold by Cumulus for dollar amounts that
would have seemed unfathomable even
a decade ago.
“What happens is that the buyer
pool in radio is shallower than it used
to be,” Guy says. “If you move past the
first two or three aggressive, strate-
gic buyers, the rest of the buyers are
opportunistic. We’re seeing that in the
deals we are representing.”
Some of the individual transac-
tions Patrick Communications has
been involved with in the last several
months have made headlines, including
the purchase by Fletcher Ford’s Virden
Broadcasting of three Illinois stations
owned by Withers Broadcasting Co.
But, Guy laments, “It’s a pretty thin
market in terms of the depth of buyers.
In Los Angeles and New York, it is a
matter of available capital, rather than
stick value. The issue is the number
of potential buyers with the available
capital to make a deal.”
Meanwhile, the future of AM radio
is now largely dependent on whether a
station has an FM translator attached
to it, with the exception of big News/
Talk and Sports Talk properties with an
abundance of listeners. “We don’t see a
tremendous amount of optimism in AM
values,” Guy says.
Also chiming in on deregulation,
and what it could bring for attorneys,
is Scott Flick, a partner at Pillsbury
Winthrop Shaw Pittman LLP.
Flick looks to Hubbard
Broadcasting and its test of all-digital
HD Radio on WWFD-AM in Frederick,
Md., as a “chicken and egg” problem
that depends on auto manufacturers
to act in unison for any true benefit to
occur.
“HD Radio on AM is about delivering
a better audio signal, but the problem
is that we already have 300 million-plus
radios out there today,” Flick says. “It will
take a long time for old radios to filter out
and new radios to filter in. We saw that
years ago with expanded-band AM.”
But if new cars come with digital
AM radio available, there’s a path to
a more positive future for radio, Flick
says.
Otherwise, Flick — like Guy — is
looking ahead to the 2020 presidential
election. If there is no movement on
local ownership rule changes as the
election approaches, it won’t likely
happen until after the election. And,
should Democrats take back the White
House, any prospect of deregulation
could be scrubbed for the foreseeable
future.
“We are at an interesting point
in time because the prospect of radio
deregulation will drop over time as
we get closer to the election,” Flick
says. “But enough talk about it means
owners are hanging tight a little bit.
“Unfortunately, we could be in a
period of reduced deal-making even
if the message is, ‘No, we are not
changing our rules.’ People on the
fence will know what the environment
will be for the next several years,
with uncertainty depressing the deal
market.”

21. FALL 2019 · RBR.COM · 21
CAPITALSTEPS:THEKEY
TOMOREDEALS
Since 1985, Brevard County, Fla.-based
broker Doyle Hadden has been actively
involved in the buying and selling of
radio stations in markets across the
U.S. What’s his take on where the
deal-making market is heading? The
President of Hadden & Associates
shares his thoughts in a Q&A conducted
by RBR+TVBR.
RBR+TVBR: The deal-making market
seems tepid. Is this the “new nor-
mal” until the U.S. government — or
the FCC, to be precise — makes rule
changes?
DOYLE HADDEN: The market will
ebb and flow based on rule changes
by the FCC, supply and demand,
and in some cases, entrepreneurial
resources. I wouldn’t necessarily
say that this is the new normal,
considering we have seen a healthy
mix of seasoned broadcasters, group
owners and first-time buyers actively
contacting our office for potential
deals and divesting assets to invest in
other areas.
RBR+TVBR: Where will we see the
next round of deals — mainly in
smaller markets, or does that not
matter?
DH: The next round of deals could
be going on now, since we have found
more interest directed our way from
many Top 10 radio groups regarding
interest in consolidation.
RBR+TVBR: Is the biggest issue fac-
ing the deal-making market access to
capital? Who are the buyers, and can
they step in where big-pocketed reli-
gious broadcasters can’t?
DH: Access to capital is always key
for any industry — and one of our top
buyers is using bank funding, so it is
available.
Defining a specific buyer to
represent the entirety of the market
isn’t fair to say either. In-market owners
who need expansion are obvious
targets for buying stations, and they
usually have access to capital to further
expand and grow their company if the
rules will allow.
RBR+TVBR: Who wants an AM radio
station anyway?
DH: Despite the reputation of AM
radio around the broadcasting industry,
many stations have a valuable place
in the market for religious, ethnic and
other types of buyers. News/Talk will
always be a recognized format on the
band.
Obviously, FM translators can help
add reach and value to all AM stations,
but they aren’t the only prerequisite
for all buyers. There are several AM
stations that are doing quite well
in their markets. AM is not dead in
America just yet.
RBR+TVBR: What are your thoughts
on FM translators?
DH: FM translators have certainly
helped out many Class D stations
around the country, considering they
will be granted a 24-hour signal.
Chairman Pai has made an effort
to bring growth to AM, which has
been greatly appreciated by many
broadcasters.
My advice for anyone looking to
add translators to their station is to
speak with an engineer first and make
sure the FCC window is open to apply
and if there is spectrum available on
the 45 dbu contour. It makes our job a
lot easier when an owner has an on-air
translator that is producing an income
stream.

22. 22 · RBR.COM · FALL 2019
Veteran radio-industry execu-
tive Dan Mason swears the
Vegas Stats & Information
Network isn’t a gaming busi-
ness. Rather, it provides all the
info one needs to participate in
legal gaming. Radio may wish to
wager big on its predicted ROI.
In April 2015, Dan Mason retired
from the radio broadcasting business,
completing a 20-year run as President/
CEO of CBS Radio. Mason’s resume
includes prior stints as President of
Group W Radio, and a similar role for
a company known as Cook Inlet Radio
Partners.
Mason, however, hardly retired
from everything having to do with radio
broadcasting. This Eastern Kentucky
University graduate would go on to be
Chairman of the Board of the industry’s
largest philanthropic organization, the
Broadcasters Foundation of America.
But it is his May 2019 move that
has redefined Mason, and perhaps
brings new promise to an AM radio
station that goes beyond HD Radio,
and the possibility of all-digital broad-
casts, as featured in this issue.
Mason is the face and voice of
Vegas Stats & Information Network
(VSiN), a company founded by the
Musberger family. Yes, sports fans,
that Musberger.
It’s the first media company
devoted to stats, analysis and the
information that many a sports
bettor can count on for making a
well-informed wager. Or not, Mason
believes. In fact, he’s certain the
content is strong enough on its
own that programming could easily
win over listeners in locales where
legalized gaming will likely never
become possible.
For Mason and VSiN, numerous
business advantages exist, thanks
to recent legislation leaving it to the
states to decide if sports wagering is
permissible or not. And he’s confident it
can fuel advertising for a laggard radio
station in need of a bit of revitalization.
“Right now there are 19 states
where legal gaming exists, or states that
are close to allowing it,” Mason said on
a recent August afternoon en route to,
of all things, a Barry Manilow concert at
Madison Square Garden, with his wife
along for the Uber ride.
“There is no reason why any station
wouldn’t want to be attacking that ad
category,” Mason continues.
In his mind, with radio being a per-
fect “call to action” medium, VSiN’s pro-
gramming is a “natural fit.”
But it is important for all to under-
stand that VSiN isn’t a radio network
— nor does it see radio as the brand’s
growth driver. Rather, VSiN’s big revenue
driver as of today is its large publishing
operation.
Its 306-page full-color College
Football Betting Guide is perhaps one
of its more popular publications, and
it’s chock full of conference and BCS
predictions. It retails for $19.99 and
features no advertisements.
Then there are televised VSiN
programs on two of the nation’s largest
regional sports networks, New York-
based MSG and Boston-based NESN.
There’s also a daily e-mail full of
articles and one “featured product
of the week.” Again, there’s no
advertising otherwise.
Oh, there’s also a dedicated
channel on SiriusXM Satellite Radio.
But that’s not what VSiN is about.
“The radio network is certainly
something with big growth potential,
but we are not dependent on it for
immediate growth,” Mason says.
INFORMATIONAL ADDITIVE
On August 5, the radio network
officially debuted, using the name
The BetR Network. It is distributed
by Houston-based Gow Media and
features programming from Gow’s SB
Nation Radio Network in addition to
VSiN.
“It’s informational, yet entertaining
— and not blue at all,” Mason says,
taking a swipe at some of the better-
known sports radio programs and
networks found across the U.S.
AVSiN-aryRadioOpportunity

23. FALL 2019 · RBR.COM · 23
transmitter and working with the manu-
facturer to make sure all is operating at
full tilt.
“This is viewed within Hubbard as a
proof of concept,” he says.
While Kolesar is not privy to what
stations could be next, conversations are
happening.
“This has definitely launched some
discussions within Hubbard,” he acknowl-
edges. Meanwhile, other broadcasters
have approached him and have toured
WWFD. They are considering a move to go
digital themselves.
What’s needed from the FCC is exper-
imental authority — at least for now.
That’s because a petition filed by
Bryan Broadcasting to broadcast in
digital, minus analog, is presently in the
hands of the Commission. Hubbard filed
comments in support of it.
The petition from Bryan involved the
assistance of David Oxenford, a partner
at Wilkinson Barker Knauer. It was filed
in March, and presents a solution for AM
radio stations in danger of losing even the
car radio as a place to tune in. Already,
Tesla has removed the AM radio due to
noise created by the electric vehicle’s
operation.
Oxenford explains that the pleading
“does not suggest that any AM be forced
to convert to an all-digital operation —
instead it proposes that stations be given
the option to make that conversion when-
ever they want.”
It’s an idea that first came to fruition
four years ago.
“An all-digital signal can overcome
this noise, and an all-digital signal is
much more robust than the digital opera-
tion allowed by the hybrid digital-analog
system currently permitted by the FCC,”
Oxenford notes.
Perhaps more important to the con-
cept of “AM revitalization” is the realiza-
tion that FM translators have done noth-
ing — except perhaps devalue — the AM
stations they are simulcasting.
“While FM translators have provided
relief to some AM stations, they have
not solved any reception issues with the
AM signal — they have just given the sta-
tions that were fortunate enough to get
a translator a lifeline until a real solu-
tion comes along,” Oxenford says. “Plus,
not all AM stations, particularly those in
large markets, were able to be awarded
a translator license. For those AM sta-
tions that did not get a translator, or for
those whose AM signal reaches farther
than a translator can, other solutions are
needed. Bryan Broadcasting argues that
this market-based approach — a voluntary
transition to AM digital — may provide the
answer for AM stations.”
The NAB agrees. In May, its EVP/
Legal and Regulatory Affairs and
General Counsel, Rick Kaplan, asked the
FCC to “promptly advance” the Bryan
petition.
ON PAR, NEAR AND FAR
While the prospect of crystal-clear AM
radio is serious business, one important
question remains: How will radio
broadcasters convince consumers to try
it — as it is still AM radio, the stuff of
“93KHJ,” Wolfman Jack and American
Graffiti?
Future designs of HD Radios are
trending toward station presets. This was
seen in fall 2005 by RBR+TVBR while driv-
ing a 3-series BMW on the autobahns of
Germany and Austria.
Instead of a radio dial, the user will
have a choice of stations via logos, with
song or program information appearing
underneath.
“At that point — it doesn’t matter
if it is AM or FM,” says Kolesar. “It’s
just buttons on a screen. That is the
equalizer. In a day and age where
people tune in or know what stations
they want to listen to by name and not
by frequency, why would they tune by
frequency anymore? This is AM’s hope.
You can bring AM up to par and bring
parity to all of these signals.”
While most of the 168 affiliate
stations are airing select VSiN
programs, The BetR Network launched
with two 24/7 radio partners:
KBAD-AM 920 in Las Vegas, a Lotus
Communications-owned Sports Talker,
and WBSS-AM 1490 in Atlantic City, N.J.,
owned by Longport Media.
Then there are stations such as
Beasley Media Group’s Sports WBZ-FM
98.5 in Boston and WPEN-FM 97.5 “The
Fanatic” in Philadelphia, and Cumulus
Media’s Sports KNBR-AM 680 in San
Francisco and Talk WLS-AM 890 in
Chicago, which are airing “VSiN Action
Updates” covering how the sports bet-
ting markets are reacting to the market’s
sports teams.
At KNBR, a report at 9am and a
report at 5pm are presently airing.
The first terrestrial partner for
VSiN? That came in May 2018, with
WSCR-AM in Chicago.
What’s the advertising potential for
this programming?
“The gaming category is certainly
there for the taking, and the casinos need
help there,” Mason says. “I am sure they
would welcome radio with open arms. I
think we caught lightning in a bottle.”
Among the early believers in VSiN
programming is Indeed, the online job
placement portal. Wine brands have also
warmed to VSiN.
Then there are the remote
possibilities, with a station able to
benefit from creating “a carnival-like
atmosphere” at events ranging from
tailgate parties to Super Bowl watch-and-
win extravaganzas.
Casino remotes are also in the cards.
A radio broadcaster simply needs
to understand that VSiN conducts no
wagering, nor does it intend to do so.
“There’s absolutely nothing that
would get anyone in trouble when it
comes to our content,” Mason says. “There
is no betting. It is up to the station’s
advertising team to decide how many
gaming-oriented sponsors it wants. We
offer data on the games, point spreads,
wind velocities — things people care about
when they are going to wager on a game.
It’s all part of one big package.”
FUTURISTContinued from 18

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