Chicago Tribune
Maryland hotel magnate Stewart Bainum and Swiss billionaire Hansjörg Wyss appear to have topped the bid of hedge fund Alden Global Capital to win full control of Tribune Publishing, the Wall Street Journal reported Sunday.
According to the report, Bainum and Wyss submitted a bid worth $680 million — well over Alden’s $635 million offer for full control of the parent company of the Chicago Tribune. Continue reading
WMBI transmitter site in Addison (1927 photo)
WMBI 1110-AM, radio flagship of Chicago’s Moody Bible Institute since 1926 and the oldest noncommercial Christian radio station in the country, has been sold, according to a Federal Communications Commission filing.
El Sembrador Ministries, a Spanish-language Catholic network based in Chatsworth, California, agreed to pay $1.6 million for the daytime-only AM station along with a construction permit for a translator at 106.3 FM. Continue reading
Cheryl Burton and Mark Giangreco (Photo: Matt Smith)
The firing of veteran sports anchor Mark Giangreco from ABC-owned WLS-Channel 7 after he referred to news anchor Cheryl Burton as someone who could “play the ditzy, combative interior decorator” on a do-it-yourself show led the top 10 most-read stories here in March.
To read the full posts, click on the headlines: Continue reading
Ed Farmer and Darrin Jackson (2013 photo)
Robservations on the media beat:
Darrin Jackson
For Darrin Jackson it's more than Opening Day as he starts his 22nd season as color analyst for Chicago White Sox baseball broadcasts. Today also marks the one-year anniversary of the death of Ed Farmer, Jackson’s close friend and longtime partner in the radio booth. “This has been the longest year in so many ways,” Jackson told me. “The state of the world, the state of our nation, and we’ve all dealt with personal trials and tribulations. But for me, the loss of Ed’s friendship and love can’t be replaced. I’m sure that I’m one of at least a thousand people who feel this way. Ed was a person who made our world better. There hasn’t been a day that’s gone by where I don’t miss him. He was great for the White Sox and better for the community. Other than that, he was just little Eddie Farmer from Chicago.” Farmer, 70, died April 1, 2020, following a long battle with polycystic kidney disease. After an abbreviated 2020 season alongside play-by-play voice Andy Masur, Jackson is teaming with new partner Len Kasper on a new station — Good Karma Brands ESPN sports/talk WMVP 1000-AM. Continue reading
Audacy
The parent company of seven Chicago radio stations — including top-rated all-news WBBM 780-AM/WCFS 105.9-FM — officially changed its name Tuesday from Entercom to "Audacy."
"It's part 'audio,' it's part 'audacious' and it's part 'odyssey,'" David Field, chairman of the Philadelphia-based company, explained to news anchor Steve Scott on New York's WCBS. "That's the derivation of the name."
Whether it will resonate with listeners and advertisers or join the corporate ash heap with “tronc” and other famous flops, the rebranding marks the latest effort by a legacy media company to remain relevant. The new name is intended to encompass broadcasting, podcasting, digital, network, live experiences, music sports and news. Continue reading
Brian Musburger
Robservations on the media beat:
DraftKings
VSiN, the Las Vegas-based sports information network founded by a group of Chicago entrepreneurs in 2017, has been acquired by DraftKings, the sports betting operator and technology company. Terms were not disclosed, but principals in the startup, founder and chief executive officer Brian Musburger and chief operating officer Bill Adee, will continue to manage day-to-day operations, according to DraftKings. “We created VSiN as a destination for sports bettors to find the most credible content to help inform their wagering decisions, whether they consider themselves experienced bettors or are just getting started,” Musburger said in a statement. “Harnessing the power and network of the DraftKings brand will allow us to reach an even wider audience with our unique content.” Musburger previously was a Chicago talent agent in practice with his father, attorney Todd Musburger. Adee is a former Chicago Tribune and Sun-Times editor who also headed digital business development at Tribune Publishing. Said Jason Robins, co-founder, CEO and chairman of DraftKings: “In addition to its brand equity among sports bettors and engaging talent roster, VSiN also has an established infrastructure that DraftKings can immediately help expand in the hopes of adding value to consumers in the U.S. who are looking to become more knowledgeable about sports betting.” Musburger’s uncle, legendary sportscaster Brent Musburger, will continue as VSiN's marquee personality. Continue reading
Chicago Tribune
Robservations on the media beat:
Could an 85-year-old billionaire environmentalist from Wyoming turn out to be the savior of the Chicago Tribune? Hansjörg Wyss, Swiss-born former chief executive of the medical device firm Synthes, told the New York Times he's joining the effort of Baltimore businessman Stewart W. Bainum Jr. to outbid predatory hedge fund Alden Global Capital for full control of Tribune Publishing. "I don’t want to see another newspaper that has a chance to increase the amount of truth being told to the American people going down the drain," Wyss was quoted as saying. "Maybe I’m naive, but the combination of giving enough money to a professional staff to do the right things and putting quite a bit of money into digital will eventually make it a very profitable newspaper.” Key to a deal for Bainum and Wyss may be securing the cooperation of Los Angeles Times owner Patrick Soon-Shiong, who owns enough Tribune shares himself to block an Alden takeover. Continue reading
Steve Stadelman
Robservations on the media beat:
Steve Stadelman spent 25 years as a TV news anchor and reporter in Rockford before he became an Illinois state senator. Now he’s sponsoring a bill to protect journalism in small towns and mid-sized cities statewide. It would create a task force to study communities underserved by local journalism and make recommendations on how to preserve and restore news coverage in those areas. “As a former journalist and news anchor, I know how important it is to have access to truly local news,” he said in a statement. “People deserve to know what’s happening in their communities regardless of where they live. Your address should not dictate the quality and type of information you have access to. This measure is meant to start a conversation and provide new ideas to help address shrinking press coverage in our communities.” Stadelman worked for ABC affiliate WTVO in Rockford before getting elected as a Democrat in 2012. Continue reading
Erin Ivory
Robservations on the media beat:
WGN-Channel 9 reporter Erin Ivory disclosed Wednesday that she has been on medical leave for more than a month and suffered a heart attack during that time. "I have received the most amazing care from the hospital cardiac team and for that I am so grateful," she posted on social media along with a photo. "I feel tremendously blessed to be alive and finally back home with my family. Please know how much your emails and love has brightened this hard stretch." Ivory, 46, joined the Nexstar Media Group station in 2011 after two years as a per diem reporter. She and her husband, WGN meteorologist Demetrius Ivory, have four children at home. Dominick Stasi, news director of WGN, said: "We are so glad that Erin is on the mend. Both she and Demetrius are a huge part of the WGN family. We look forward to her return, but in the meantime, we are wishing her a healthy recovery."
Eddie Arruza
Two years ago this week Eddie Arruza stepped down as a host and correspondent for WTTW-Channel 11’s “Chicago Tonight,” capping a distinguished 15-year run at the Window to the World Communications public television station.
While co-workers and admirers were sad to see him go, the veteran Chicago newsman insists he’s had no second thoughts about his move. Continue reading