By David Farrell
During the third quarter of 2022, Broadcasting and Commercial Music revenues grew by 2.3% to $41.1 million mostly due to higher advertising revenues. Adjusted EBITDA decreased to $14.6 million in the third quarter due to higher costs related to the gradual return to normal business operations, increased U.S. investments and a lower gross margin impacted by product mix.
For its part, Radio revenues improved 7.9% year-over-year to $34.9 million in the third quarter, while Adjusted EBITDA increased 9.0% to $15.0 million. These financial results, outperforming those of Radio peers in Canada, represent our strongest quarterly performance in the last two years. The outlook for our Radio business remains favourable with end-market recovery still not having reached pre-pandemic levels. – Eric Boyko, GlobalNewswire
Kid Carson and Z95.3 FM have parted ways after the radio host went on a conspiracy-laced tirade about vaccine mandates on his Wednesday morning show, during which Carson said the media are manipulating the public about the pandemic and claimed there are digital tracking devices in vaccines being given to kids.
Some people called into the show after the rant and said he was a “hero” for speaking out, but obviously, the bosses at Stingray Radio, the company that owns Z95.3 FM, disagreed.
The station issued a statement on Wednesday confirming ‘a mutual decision’ was made to part ways.
“After today’s show, we reached a mutual decision to part ways. Kid has some very strong views on a number of polarizing topics. While we respect his right to have and express those views, they do not represent what z95.3 is all about,” it read, in part. – Joseph Ruttle, Vancouver Sun
Toronto’s Flow 93.5 expands music mix as it finds new home at 98.7
Toronto’s Stingray-owned hip-hop station Flow 93.5 (CFXJ-FM) will transfer its format and intellectual property to what is now CINA Radio Group’s Adult R&B G98.7FM and relaunch as Flow 98.7 next Monday, Feb. 14.
With the shift, the music format will be broadened adding more R&B, soca and reggae to the previously diecast hip-hop mix. Most of the current CFXJ airstaff do not appear to be making the move as they have made announcements of their departures including morning hosts Blake Carter and Peter Kash and afternoon host Ricochet.
“Flow 93.5FM has been a powerful brand in the GTA for many years,” All-New Flow 98.7 GM Gary Gunter said in a press release Wednesday. “Coupled with the historical legacy of G98.7FM and what it has meant to the Black community, this move demonstrates our commitment to serving Toronto with a radio station that further invests into the tastes, issues, needs and lifestyle of its loyal listeners. We are thrilled to bring together two of the most respected radio stations at 98.7FM.”
No details yet on what will replace the Hip Hop format on 93.5.