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30th Annual SNL Kagan TV and Radio Finance Summit - June 2013  -  June 6, 2013

June 6, 2013
8:00 am

Registration and Continental Breakfast

Sponsored by:

 Patrick Logo Landscape Small

8:45 am

Welcome and Introductions

Nancy Berlin
Associate Director
SNL Knowledge Center
9:00 am

Industry Overview

Robin Flynn
Research Director
SNL Kagan
9:15 am

Opening Session: Executive Q & A

Aereo, the service streaming broadcast signals in New York City (with Boston up next), has created a storm of controversy in the media world given its threat to broadcast copyrights and retrans revenues.  The dialog got even more heated after broadcast network execs in April said they would consider a move to cable if their content rights are not protected.  Join us for a candid discussion with Harry Cole of Fletcher, Heald & Hildreth as we discuss the chances that broadcasters will find remedies in the court system or from Congress, where the best chances for the networks' success lie and what may happen next. 
Harry F. Cole
Attorney
Fletcher, Heald & Hildreth PLC
9:45 am

The Business of TV Stations - The Future of Revenues and Audience Engagement

Robert Prather, Jr., President and COO, Gray Television  
Richard J. Schmaeling, Senior Vice President, Chief Financial Officer, LIN Media
Perry Sook, Chairman, President and CEO, Nexstar Broadcasting Group, Inc.  
Moderator:  Andrew Marcus, Managing Partner and Portfolio Manager, SugarLoaf Rock Capital, LLC  

 

What are the most important opportunities and challenges facing the TV station business and how will it respond?  

  • What is the Future Outlook for TV Station operations?
  • What is the forecast for political revenues, auto, and other ad categories this year?
  • How high can retrans fees get and how much is being returned to networks in the form of reverse comp?
  • What is the impact of such things as Aereo, OTT (Over The Top) and ad-skipping technologies on local TV? (ratings, revenues, brand)
  • What is the outlook for digital and mobile TV station revenues and how can stations use social media?
  • Will station M&A continue and at what multiples?
 
11:00 am

Networking Break

11:15 am

Retransmission Consent - Taking Revenues to the Next Level

Robert Dunlop, Executive Vice President, Operations, Fisher Communications, Inc.
John Hane, Counsel, Pillsbury Winthrop Shaw Pittman LLP
Robert Folliard, Associate, Dow Lohnes, PLLC
Brian Lilly, President and CEO, SJL Broadcast Management Group
Carl Salas, Vice President and Senior Analyst, Moody's Investors Service, Inc.    
Moderator: Robin Flynn, Associate Director, SNL Kagan
  • Where stage is the industry at in the growth of retransmission revenues? 
  • How much will have to be given up in reverse compensation to which network, and what do station owners get in return?
  • What are average fee levels now and how high can they grow?
  • How are new deals being structured, and when will the next wave of new agreements come?
  • What factors and terms should TV station owners consider when negotiating new deals?
  • How much will have to be given up to which network, and what do station owners get in return?
  • How likely is regulatory intervention this year in the deal-making process?
  • Will there ever be a uniform reporting standard to supply transparency to retrans revenues?

 

12:15 pm

Luncheon

1:15 pm

Forward into Reverse - The FCC's Plan for Spectrum Auctions

Mark Aiken, Vice President, Advanced Technology, Sinclair Broadcast Group 
Rebecca Hanson, Senior Advisor, Broadcast Spectrum, Federal Communications Commission 
Rick Kaplan, Executive Vice President, Strategic Planning, National Association of Broadcasters 
Preston Padden, Executive Director, Expanding Opportunities for Broadcast Coalition 
Moderator: Elliot Evers, Managing Director, Media Venture Partners   
  • How much spectrum can the FCC realistically expect to get?
  • What is the hardest/most complex issue presented by the NPRM, the Act and the comments that have been filed?  
  • Status of "scoring" -- has this been abandoned?  
  • Status of restricting AT&T and Verizon from unfettered bidding? Will spectrum caps be lifted?  
  • What's the best way to encourage channel-sharing?  
  • What is your best estimate on timing of the auctions and why? What is the impact of the arrival of our new Chairman, if any? 
  • Future of non-Class A LPTVs after repacking?
2:30 pm

Afternoon Keynote Address

Executive Q&A with Jeffrey Smulyan, Chairman, President and CEO, Emmis Communications Group
3:00 pm

The Future of Radio: Upping the Ante

Jana Cosgrove, President, CBS Radio Sales and Entercom Radio Sales
Scott Herman, Executive Vice President, Operation, CBS Radio
Michael Maze, Vice President and Director, Local Broadcast Initiative  
Sherry Mesh, Marketing/Advertising, London Jewelers
Michael Weiss, President, Sales, CBS Radio
Moderator:  Erica Farber, President and CEO, Radio Advertising Bureau 
  • What is the outlook for radio revenue in 2013 and beyond?
  • What are the trends on a national and local level?
  • How are radio stations currently operating to maximize revenue?
  • How is radio reinventing advertising opportunities for its clients?
  • What has happened to ad rates, inventory loads, and margins?
  • Join us for a deep dive into radio station revenues!
4:00 pm

Networking Break

4:15 pm

The Art and Science of Buying and Selling Broadcast Stations

James S. Altenbach, Shareholder, Greenberg Traurig LLP
John Chachas, Managing Partner, Methuselah Advisors
Bert Ellis, President, Titan Broadcast Management

Bruce Levy, Managing Director, Wells Fargo Securities  
Brian McNeill, Founder and Managing General Partner, Alta Communications  
Larry Patrick, Managing Partner, Patrick Communications  
Jeffrey D. Warshaw, CEO, Connoisseur Media, LLC 
Moderator: Bishop Cheen, Independent Media Consulting 

  • Panelists (station operators, brokers and financiers) will negotiate and make a deal for first a radio station and then a TV station based on actual station transactions. The station profile will be disguised for the players who will engage in a realistic but mock negotiation over price and terms.
  • The panel's often animated negotiations are designed to reflect current station deal trends, supply and demand factors, competitive market analysis, financing considerations, valuation multiples, and anything else that goes into a real deal.
  • The actual station transaction will be revealed to all, including the audience, at the end of the mock negotiations.
  • Submit your guess: See how close you get to the actual station and deal price!
5:30 pm

Conference Ends

5:30 pm

Cocktail Reception

Mark A. Aitken
Vice President, Advanced Technology, Sinclair Broadcast Group, Inc.
   
James S. Altenbach
Shareholder , Greenberg Traurig LLP
  
John Chachas
Managing Partner, Methuselah Advisors
  
Bishop Cheen
Independent Media Consultant, Cheen Consulting
Bishop Cheen is consultant and blogger (“CAPITAL Letters”) for SNL Kagan and has four decades of experience in analyzing the economics and operations of media, entertainment and telecom companies. He retired as a managing director and senior analyst in 2012 from Wells Fargo Securities (and its predecessor institutions Wachovia and First Union). Prior to joining First Union in 1995, he was a senior analyst for Paul Kagan Associates (PKA) and co-head of Kagan Media Appraisals where he analyzed the economics and values of public and privately held media and entertainment companies.
Jana Cosgrove
President, CBS Radio Sales and Entercom Radio Sales
   
Robert Dunlop
Executive Vice President, Operations, Fisher Communications, Inc.
   
Bert Ellis
President, Titan Broadcast Management
  
Elliot Evers
Managing Director, Media Venture Partners
   
Erica Farber
President and CEO, Radio Advertising Bureau
 
Robin Flynn
Research Director, SNL Kagan
 
Robert Folliard
Associate, Dow Lohnes, PLLC
   
John Hane
Counsel, Communications Practice, Pillsbury Winthrop Shaw Pittman LLP
   
Rebecca  Hanson
Senior Advisor, Broadcast Spectrum, Federal Communications Commission
   
Scott  Herman
Executive Vice President , CBS Radio
   
Rick Kaplan
Executive Vice President, Strategic Planning, National Association of Broadcasters
   
Brian Lilly
President and CEO, SJL Broadcast Management Corporation
 
Andrew Marcus
Managing Partner and Portfolio Manager, SugarLoaf Rock Capital, LLC
   
Michael  Maze
Vice President and Director, Local Broadcast Initiative
   
Brian McNeill
Founder and Managing General Partner, Alta Communications
   
Sherry Mesh
Marketing/Advertising, London Jewelers
  
Preston  Padden
Executive Director, Expanding Opportunities for Broadcast Coalition
 
Larry Patrick
Managing Partner, Patrick Communications
Larry Patrick is Managing Partner of Patrick Communications, a media investment banking and brokerage firm based in Maryland with over $7.5 billion worth of deals to its credit.  The firm has sold over 500 radio stations and 160 television stations.  He also owns Legend Communications, a group of 17 small-market radio stations in Wyoming and is an investor in another group of 26 radio stations in Missouri and Iowa.  He also owns television stations in New York, Boston, San Francisco and Philadelphia.
 
Larry also served as Chairman of the Board of ION Media Networks, a public company, and operator of 60-full-power television stations across the country.  He also is a former Senior Vice President of the NAB.  He serves as Chairman of, both, NAB's Political Action Committee and the Bayliss Foundation and serves as Vice Chairman of the Yellowstone Park Foundation, as well as a Director of Good Radio.TV, the Library of American Broadcasting, NRJ Broadcasting and on the Board of Visitors at the University of Tennessee.
 
Larry holds a Ph.D. in communications and management from Ohio University as well as a J.D. from Georgetown University Law Center.
 
Carl Salas
Vice President and Senior Analyst, Moody's Investors Service, Inc.
 
Richard Schmaeling
Senior Vice President, Chief Financial Officer, LIN Media
  
Jeffrey H. Smulyan
Chairman, President and Chief Executive Officer, Emmis Communications Group
  
Perry A.  Sook
Chief Executive Officer, Nexstar Broadcasting Group Inc.
 
Jeffrey D. Warshaw
CEO, Connoisseur Media, LLC
 
Michael Weiss
President, Sales, CBS Radio
   
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Event Date:
June 6, 2013
Event Location:
Union League Club
38 E. 37th Street
New York, NY, US
Registration Fee:
$995 

Your registration includes all conference materials, plus continental breakfast, lunch, and cocktail reception.

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Event Date:
June 6, 2013
Venue:
Union League Club
38 E. 37th Street
New York, NY, US
Phone:
(212) 685-3800
Website:
http://www.unionleagueclub.org/
Please note: The dress code for the Union League Club is formal business attire.
Accommodations:

The Union League Club's accommodations are usually reserved exclusively for members; however, a limited number of rooms have been reserved for program attendees starting at $239 per night, exclusive of taxes and fees. These rooms are available through May 15, 2013 or until the block is filled, whichever comes first.

To reserve your room, please call the Union League Club directly at 212 685-3800 and mention the SNL Kagan TV and Radio Finance Summit.


CFA Institute
SNL Knowledge Center is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 6 PD credits hours as granted by CFA Institute. If you are a CFA Institute member, PD credit for you attendance at this event will be automatically recorded in your PD Diary upon request.
National Association of State Boards of Accountancy
Participants who complete this program qualify for 7 hours of CPE credit (Specialized Knowledge and Applications). Program Level: Intermediate. Delivery Method: Group-based internet. SNL Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417.

What is the dress code?
Formal business attire.

What is the cancellation policy?

Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another SNL Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

SNL Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. SNL Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. SNL Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, SNL Knowledge Center will refund the registrant's tuition in full, however SNL Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.
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