Core Insights - MediaCo Holding Inc. announced that its flagship hip hop station, WQHT-FM (HOT 97), achieved record audience levels among Adults 18-49 in September 2025, ranking 3 in total day ratings [1][2]. Audience Performance - HOT 97 delivered a record 17,300 Adult 18-49 listeners per quarter-hour, representing a +68% increase compared to September 2024, and improved its market rank from 9 to 4 among 27 reportable stations in New York [2]. - The station's performance was strong across all major weekday dayparts, with notable increases in weekend performance as well [3]. - During the morning drive (6a–10a), HOT 97 had 17,000 Adult 18-49 listeners per quarter-hour, a +55% year-over-year increase [6]. - The daytime (10a–3p) segment saw a +66% increase year-over-year, marking three consecutive months of strong midday audiences [6]. - In the afternoon drive (3p–7p), HOT 97 ranked 3 with 20,800 Adult 18-49 quarter-hour listeners, an increase of +82% from September 2024 [6]. Cultural Impact - The record-breaking performance of HOT 97 underscores its continued cultural influence and connection with audiences, as stated by company executives [4].

Core Viewpoint - The rebranding of Infinity Sports Network to Westwood One Sports marks a strategic partnership between Cumulus Media's Westwood One and Audacy, enhancing their leadership in national sports audio and expanding their programming offerings [1][2][5] Group 1: Partnership and Programming - Westwood One will take over programming and distribution for a majority of syndicated sports shows, including "The Jim Rome Show," which will occupy the 3 PM – 6 PM ET slot [2] - Audacy will continue to produce popular shows like "You Better You Bet" and "BetMGM Tonight," maintaining its role as a presenting partner and exclusive sportsbook partner for these programs [2][4] Group 2: Audience Engagement and Content Delivery - Westwood One Sports will provide 24/7 live coverage, expert commentary, and real-time sports programming, enhancing audience engagement through interactive and topical discussions [3][4] - The network will also maintain its extensive play-by-play coverage of major sports events, including the NFL, NCAA, and U.S. Soccer, ensuring comprehensive sports content for listeners [3][9] Group 3: Advertising and Affiliate Benefits - Advertisers will gain access to a larger scale and premium inventory, while affiliates will benefit from expanded content choices and enhanced brand recognition [4] - The partnership aims to ensure stronger audience engagement and revenue potential through integrated sponsorship opportunities and proven marketing resources [4] Group 4: Digital Strategy - Westwood One Sports will extend its reach beyond traditional radio through streaming on the Audacy app and digital platforms, providing on-demand access to shows and live commentary [5] - This digital-first approach is designed to create new monetization opportunities for advertisers and connect with listeners across various platforms [5]

When people talk about the market opportunity in AI, it's basically uncapped. It's the entire world. It's like all of business.And in the 1920s, people were saying stocks were going to go up because the entire world was buying into the US. >> I think that's very true. I would actually specifically point actually to a technology story back then, which was >> radio.>> Radio. The ticker symbol was radio. The company was RCA.They also, by the way, not only had the technology for radio, they had the patents for ...

Communication Skills in Radio Broadcasting - Radio jockeys (RJs) typically speak for a maximum of 6 minutes out of a 60-minute hour, emphasizing brevity in communication [1][2] - The radio industry values the art of being brief, requiring RJs to create an impact in approximately 90 seconds to retain listeners [2] - Listening is an active activity crucial for RJs to connect with listeners and provide a sense of companionship, which is key to radio's continued relevance [2] Personal and Professional Development - The speaker's radio journey significantly altered their personality and provided a sense of purpose, highlighting the transformative potential of the profession [1] - Being comfortable with silence and selective sharing of experiences can enhance an artist's originality and content creation [3][4][5] - The speaker emphasizes the importance of self-reflection and introspection, suggesting that personal experiences should be processed internally before being shared to maintain their authenticity [5] Overcoming Challenges - Transitioning from All India Radio, where longer speaking times were common (25-30 minutes per hour), to commercial radio required significant adjustment to a 6-8 minute limit [2] - The speaker initially struggled with the length of their links and being comfortable with their own voice, demonstrating common challenges faced by aspiring RJs [1][2] - The speaker overcame performance anxiety and self-doubt to embrace the excitement and confidence required for live radio broadcasting [1]

SNC Investment Highlights - SNC shares offer an attractive dividend yield of 6.3% (8.5% grossed up for franking)[15] - The SNC portfolio can be acquired at a 9.8% discount to its Net Tangible Assets (NTA)[11, 15] - As of July 31, 2025, the company possesses solid profits reserves and franking credits amounting to 42.7 cents per share[11] - SNC has paid and announced 65.8 cents per share in dividends and 24.9 cents per share in imputation credits since its inception[18] SNC Performance - SNC's gross performance to July 31, 2025, shows a 1-year return of 19.0%, a 3-year return of 13.8% per annum, and a since-inception annualized return of 9.9%[22] - SNC's investment selection and portfolio discipline are highlighted by a win/loss ratio of approximately 70%[24] - SNC's gross performance in rising markets averaged 2.9%, while in falling markets, it averaged -3.3% since inception[26] Portfolio Companies - Carbon Conscious Investments Ltd (CCIL) manages large-scale projects of approximately 17,000 hectares[28] - SNC received a fully franked dividend of $720,000 from CCIL in February 2025 and currently holds approximately $1.7 million in cash[30] - QPM Energy Ltd (QPM) has gas reserves exceeding 400PJ and an enterprise value of $143.8 million[31]

Financial Data and Key Metrics Changes - Total net revenue for Q2 declined by 11.1% year over year on a same station basis, primarily due to weakness in agency business [10][19] - Operating expenses decreased by $4,600,000 or 9.3% year over year, reflecting cost containment measures [21] - Station operating income for the quarter was $8,200,000, with an SOI margin of 15.6% [22] Business Line Data and Key Metrics Changes - Digital revenue grew by 1.3% or 8.1% on a same station basis, accounting for 25% of total revenue [5][20] - The digital segment operating margin improved by 900 basis points quarter over quarter, from 17.8% to 26.8% [6] - Agency-related revenue declined significantly, with national agency revenue down 12.1% and local agency revenue down 24.7% year over year [16] Market Data and Key Metrics Changes - Local direct revenue increased by 1.7% year over year, now representing the majority of local sales mix [20] - Digital growth accelerated at 8.1% year over year on a same station basis and 22.5% quarter over quarter [20] - Ratings for the company's stations rose by 14% year over year in the critical adult 25-54 demographic [28] Company Strategy and Development Direction - The company is focused on advancing its digital roadmap, reducing structural costs, and improving capital position [5][4] - A strategic pivot towards a digitally native, local-first approach is underway, aiming to convert traditional agency clients into digital-first buyers [11][12] - Upcoming product launches, including Display Plus and a self-serve advertising platform, are designed to enhance client outcomes and reduce dependence on traditional sales channels [25][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing challenges in the agency business, emphasizing that the decline is structural rather than cyclical [15][16] - The company expects continued softness in national and local agency channels, with total revenue pacing down high single digits [26] - Confidence remains in the strategic direction, with early signs of traction in digital and direct revenue streams [20][24] Other Important Information - The company has implemented approximately $30,000,000 in annualized expense reductions over the past year [13][32] - Cash on hand at the end of Q2 was $13,700,000, with capital expenditures of $600,000 in the second quarter [23] Q&A Session Summary Question: Can you update us on where the cost savings plan stands? - The company has taken cost actions that will result in approximately $30,000,000 in annualized savings, with expectations for 2025 expenses to be in the low $20,000,000 range [32] Question: How are CPMs trending? - Digital CPMs are holding steady, while traditional over-the-air CPMs are trending down due to declines in agency business [34] Question: Did you see the opportunity for more asset sales? - The company remains open to asset sales or swaps if they make sense strategically [35]

Group 1 - Stingray Group Inc. held its annual general meeting of shareholders virtually, where ten nominees were elected as directors with overwhelming support [1] - The voting results showed that all nominees received over 99% approval, indicating strong shareholder confidence [1] - The nominee with the highest approval was The Honourable Jean Charest, receiving 99.99% of votes in favor [1] Group 2 - Stingray Group Inc. is a global leader in music, media, and technology, providing a wide range of services including TV broadcasting, streaming, and advertising [2] - The company operates 97 radio stations and offers various digital services, reaching 540 million consumers across 160 countries [2] - Stingray Business division focuses on commercial solutions such as in-store advertising and digital signage, while Stingray Advertising is the largest retail audio advertising network in North America [2]

Core Message - The speaker redefines "authenticity" as "honesty" for personal and professional growth [3][4] - Honesty fosters deeper connections with loved ones, family, and friends [16][17] Personal Anecdotes - In response to a school shooting, the speaker and colleagues chose to focus on expressing honest feelings on air, providing comfort to the community [5][6][7][8][9][10] - The speaker's father's reaction to a teenage lie about drinking taught a valuable lesson about honesty and unconditional love [11][12][13][14][15] Takeaway - Honesty, like in an orgasm, is more satisfying than pretense [17][18]

Career & Personal Development - Many people feel reluctant to return to work after summer vacations due to issues with bosses, colleagues, or the job itself [1] - The speaker shares personal experiences of working in radio and later becoming a psychologist, driven by discomfort in a dream job [2][3][4][5][6][7] - The core message encourages listeners to examine situations ("boxes") in their lives that cause discomfort and to make conscious decisions about staying or leaving [19] Cognitive Biases & Decision-Making - The report identifies three common traps that prevent people from leaving uncomfortable situations: sunk cost fallacy (losing prior investment), status quo bias (assuming colleagues are correct), and fear of uncertainty (needing guaranteed success) [9][13][15] - Sunk cost fallacy is illustrated by continuing to read a boring book simply because of the time already invested [11][12] - Status quo bias is exemplified by sticking to a familiar route despite GPS suggestions or following established norms without questioning them [14] - The report highlights the human tendency to avoid losses more strongly than seeking gains, leading to risk aversion [15] - The report contrasts two modes of information processing: a quick, intuitive approach prone to biases, and a slow, analytical approach necessary for important decisions [15][16] Workplace Dynamics & Employee Well-being - The speaker observed that many former colleagues remain in their radio jobs despite expressing dissatisfaction, indicating a gap between feeling and action [17] - The report emphasizes the importance of making a conscious decision to stay in a job, rather than passively remaining due to inertia or external pressures [18]

Core Insights - Stingray Group Inc. will release its financial results for the fourth quarter ended March 31, 2025, on June 10, 2025, after market close [1] - A conference call to discuss these results is scheduled for June 11, 2025, at 10:00 a.m. Eastern Time [1] Company Overview - Stingray is a global music, media, and technology company, recognized as an industry leader in TV broadcasting, streaming, radio, business services, and advertising [3] - The company offers a wide range of services including audio and video channels, over 100 radio stations, subscription video-on-demand content, FAST channels, karaoke products, and music apps [3] - Stingray Business provides commercial solutions in music, in-store advertising, digital signage, and AI-driven consumer insights [3] - Stingray Advertising is the largest retail audio advertising network in North America, reaching over 30,000 major retail locations [3] - The company employs nearly 1,000 people globally and serves 540 million consumers across 160 countries [3]