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New Big Brothers Big Sisters Campaign Calls for More Men to Mentor

2009-03-03T17:46:00.000+02:00

PHILADELPHIA, March 3 /PRNewswire/ -- Big Brothers Big Sisters is launching Phase II of its Campaign for Men to recruit more male mentors in communities across the United States.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090303/PH78141 )

Funded in part by a generous grant from the Arby's Foundation and introduced last year, the campaign is aimed at attracting more male volunteers, particularly African-American and Hispanic men. More than 70 percent of the children waiting for mentors are boys, but only three out of every 10 inquiries about volunteering come from men.

Phase II of the campaign launches this month and will provide Big Brothers Big Sisters agencies across the country with general and targeted marketing materials to recruit African-American, Hispanic and Asian men. Among the materials are web, print and bus shelter ads and other outdoor media to run in their local markets. Agencies will also receive "100 Men in 100 Days" recruitment kits, developed and implemented successfully last year by Big Brothers Big Sisters' Detroit agency.

In addition, Big Brothers Big Sisters agencies will receive African- American male recruiting videos. While more than a third of the Little Brothers served by the Big Brothers Big Sisters network are African-American, only 15 percent of the nonprofit organization's male mentors are.

Last month, syndicated sports radio personalities, The 2 Live Stews joined the effort with a campaign called, Mentoring Brothers. Doug and Ryan Stewart, biological brothers who are also mentors with Big Brothers Big Sisters, urge their listeners to join the movement at MentoringBrothers.org, a micro site established as part of the Campaign for Men. The Stews also enlisted the support of their sports and urban media buddies, including syndicated radio personality, Tom Joyner, to use the airwaves and websites to help spread the word about the need for African-American men to become mentors. Also, as part of a longtime partnership with Big Brothers Big Sisters, the historically African-American Alpha Phi Alpha fraternity continues to host barbershop and other community recruitment drives.

"We are pleased that our grant initiative supports a program that is having a powerful impact on America's youth," said Greg Hawkins, Senior Vice President of Community Partnerships, Arby's Restaurant Group, Inc. "With the introduction of the campaign last year, Big Brothers Big Sisters has begun to see a significant increase in the number of male volunteers in general. This year, with grassroots buzz generated by The 2 Live Stews and other urban radio personalities, we are seeing increased interest among African-American men. We expect the new tools for Big Brothers Big Sisters agencies will help immeasurably."

The 260,000 Children served by Big Brothers Big Sisters are among America's most vulnerable - those who live in poverty, single-parent homes or households where a parent is incarcerated. Independent research finds having a Big Brother or Big Sister improves a child's odds for succeeding educationally and socially and breaking negative cycles.

About the Arby's Foundation

The Arby's Foundation, Inc., a non-profit 501 (c) (3) corporation, is grounded in the belief that every individual has the power to make a difference. Since its inception in 1986, the Arby's Foundation has provided more than $27 million through Arby's Charity Tour events, in-store fundraising, community events and grant programs to support youth education and mentoring initiatives. In 2008 the Arby's Foundation and it's local operators raised over $5 million for over 400 local BBBS agencies, and for two consecutive years awarded over $800,000 in grants to support Big Brothers Big Sisters' "Campaign for Men," an initiative to assist the organization in reaching its goal of recruiting more male mentors. For more information on the Arby's Foundation, please visit www.arbysfoundation.org.

About Big Brothers Big sisters

Big Brothers Big Sisters helps vulnerable children beat the odds. The organization depends on donations to help recruit volunteers and reach more children. Funding is used to conduct background checks on volunteers to ensure child safety; and provide ongoing support for children, families and volunteers to build and sustain long-lasting relationships. Big Brothers Big Sisters is proven to increase children's odds of succeeding in school, behaving nonviolently, avoiding drugs and alcohol, and breaking negative cycles. Headquartered in Philadelphia and with nearly 400 agencies across the country, Big Brothers Big Sisters serves more than a quarter million children. Learn how you can change how children grow up in America by going to BigBrothersBigSisters.org.

[Via http://www.prnewswire.com]

Univision Signs Multi-Year Carriage Agreement with DIRECTV

2009-03-03T16:25:00.000+02:00

NEW YORK, March 3 /PRNewswire/ -- Univision Communications Inc., the premier Spanish-language media company in the United States, announced today a multi-year carriage agreement with the nation's leading satellite provider, DIRECTV. The agreement includes carriage of Univision's owned and operated broadcast stations and distribution of the cable network, Galavision, and the network feeds for Univision and TeleFutura. This agreement includes, in certain markets, carriage of affiliated stations owned and operated by Entravision Communications Corporation (NYSE: EVC), Equity Media Holdings Corporation and Fisher Communications, Inc. (Nasdaq: FSCI).

"The partnership with DIRECTV speaks to the growing influence of the Hispanic consumer in the nation," said Joe Uva, chief executive officer, Univision Communications Inc. "Our distributors understand that a partnership with Univision is an investment in sustained growth."

"We are pleased to continue our long-standing relationship both with Univision and the large base of Hispanic customers who enjoy Univision's programming on DIRECTV," said Derek Chang, executive vice president, Content Strategy and Development, DIRECTV, Inc.

The terms of the agreement were not disclosed.

Univision Communications is a leading integrated media company in the U.S., with one of the top five television networks in America regardless of language -- which is the #1 Spanish-language broadcast television network; the second leading Spanish-language broadcast television network; the #1 television station in the country regardless of language; the #1 Spanish-language cable network; the #1 Spanish-language radio group and the #1 U.S. Spanish-language Internet portal.

About Univision Communications

Univision Communications Inc. is the premier Spanish-language media company in the United States. Its operations include Univision Network, the most-watched Spanish-language broadcast television network in the U.S., reaching 97% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, which was launched in 2002 and now reaches 85% of U.S. Hispanic Households; Galavision, the country's leading Spanish-language cable network; Univision Television Group, which owns and operates 64 television stations in major U.S. Hispanic markets and Puerto Rico; Univision Radio, the leading Spanish-language radio group which owns and/or operates 70 radio stations in 16 of the top 25 U.S. Hispanic markets and 5 stations in Puerto Rico; and Univision Interactive Media, which includes http://www.univision.com, the premier Spanish-language Internet destination in the U.S., and Univision Movil, the industry's most comprehensive Spanish-language suite of mobile offerings. Univision Communications also has a 50% interest in TuTv, a joint venture formed to broadcast Televisa's pay television channels in the U.S. Univision Communications has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States.

For more information, please visit http://www.univision.net.

[Via http://www.prnewswire.com]

Westwood One Agrees in Principle on Terms to Refinance Capital Structure

2009-03-03T12:30:00.000+02:00

NEW YORK, March 3 /PRNewswire-FirstCall/ -- Westwood One, Inc. (OTC Bulletin Board: WWON) announced today that it has reached an agreement in principle with its existing lenders to refinance all of its outstanding long term indebtedness (approximately $241 million in principal amount) in exchange for $25 million in cash, a series of new senior secured notes in an expected aggregate principal amount of $117.5 million and 25% of the pro forma equity in Westwood One. The new notes are expected to mature on July 15, 2012.

As part of the refinancing, it is contemplated that entities managed by The Gores Group, LLC, (together with its affiliates, "Gores"), Westwood One's largest stockholder, will purchase for cash $25 million of new preferred stock and guarantee or otherwise provide credit support for a $20 million subordinated term loan and a $15 million unsecured revolving line of credit. The term loan and line of credit are expected to be provided by a new institutional lender and to be used to finance working capital and other general corporate purposes. Upon consummation of the refinancing, with the new preferred stock it purchases, Gores will own approximately 72.5% of Westwood One's equity with respect to its preferred stock and acquire control of Westwood One. As a result of the contemplated transactions, existing common stockholders would own approximately 2.5% of the outstanding equity of Westwood One.

The refinancing and infusion of additional capital will be significant milestones in Westwood One's turnaround initiative which includes actions to reduce debt, drive revenue initiatives, improve operating efficiency, increase financial flexibility and acquire new properties to further enhance the Westwood One's traffic reporting, news, sports and entertainment leadership positions.

"The refinancing is an essential part of our turnaround plan," said Rod Sherwood, President and CFO of Westwood One. "We appreciate that our lenders, Gores and our other investors, continue to value our business and recognize the opportunity for long-term growth. A successful completion of the refinancing will allow us to continue to focus on delivering superior content and service, cost effectively, to Westwood One customers."

The terms described above and the closing of these transactions remain subject to the negotiation of definitive documentation by Westwood One, its existing lenders, the new institutional lender and Gores, and customary closing conditions, including antitrust regulatory approvals. No assurance can be given that any of these parties will execute definitive documentation or that any of the contemplated transactions will occur at all. The refinancing and the Gores investment are contemplated to occur concurrently with one another and, subject to the foregoing, are anticipated to occur in the second quarter of 2009.

Moelis & Company is serving as financial advisor to Westwood One in connection with the transaction. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Westwood One's legal advisor. Chanin Capital Partners is serving as financial advisor to The Gores Group. Proskauer Rose LLP is serving as The Gores Group's legal advisor.

The foregoing summary is not intended to be an exhaustive description of the refinancing or the terms and conditions thereof, which will be set forth in definitive documentation to be negotiated by Westwood One, its lenders and Gores. Upon the signing of any definitive documentation, such agreements will be filed in a Form 8-K or other appropriate filing with the SEC.

About Westwood One

Westwood One (OTC Bulletin Board: WWON) is the largest independent provider of network radio programming and the largest provider of traffic information in the U.S. Westwood One serves more than 5,000 radio and TV stations in the U.S. Westwood One provides over 150 news, sports, music, talk and entertainment programs, features and live events to numerous media partners. Through its Metro Traffic division, Westwood One provides traffic reporting and local news, sports and weather to over 2,200 radio and TV stations. Westwood One also provides digital and other cross-platform delivery of its network and Metro content.

Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Westwood One to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The words or phrases "guidance," "expect," "anticipate," "estimates" and "forecast" and similar words or expressions are intended to identify such forward-looking statements. In addition any statements that refer to expectations or other characterizations of future events or circumstances are forward-looking statements. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this news announcement include, but are not limited to: our ability to negotiate and execute definitive documentation of the transactions contemplated by the refinancing and infusion of additional capital; our ability to continue as a going concern; and obtaining requisite approval by Westwood One's Board of Directors and antitrust regulatory authorities for the transactions contemplated by the infusion of additional capital. Other key risks are described in Westwood One's reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Except as otherwise stated in this news announcement, Westwood One does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

[Via http://www.prnewswire.com]

Rising Hip-Hop Star Stunts New Hit Single on iTunes

2009-03-02T18:00:00.000+02:00

ATLANTA, March 2 /PRNewswire/ -- For the past decade, Hip-Hop music has made a huge impact on today's society. Acts such as Eminem, Jay-Z, Dr. Dre, and 50 Cent to Akon, T-Pain, Lil Wayne, and Ludacris have made a huge contribution to the culture. However as CD sales continue to decline and fans are losing faith in so much as most of them would consider hip-hop dead. When will new talents like Jay-Z come from the ashes and provide a unique style of the culture?

Look no further as Cameron "The Real Camilly" White has become a master in this ability. Born in Jacksonville, Florida and raised in many others including Memphis, Tennessee, Camilly has not only learned how to adjust to physical environments, but also how to develop as an aspiring hip-hop musician. With a quick tongue and fiery delivery, his uniqueness has aptly been dubbed "Wyld Style".

He's often been compared to Twista or Bone Thugs-N-Harmony, but as his name suggests, Camilly is able to switch to slower patterns similar to those of Kanye West and Snoop Dogg. The power to exhibit multiple dimensions has earned Camilly thousands of loyal fans from California to New York and even overseas. With help from the internet, he's been able to reach listeners all over the world. "I'm not even known on a major level yet," he says proudly, "but because of MySpace, I have people telling me that I'm their favorite rapper. Having support from fans like that is the greatest thing that's happened so far."

Camilly is releasing his first debut single 'She Can Get It' on iTunes and other services through social media distributor WaTunes.com. The single, which is already getting huge critical acclaim from DJs and radio stations from around the world as well as support from major acts such as DJ Khaled, Akon, and T-Pain is his answer to bringing a new style of music in the Hip-Hop culture. Look to see his single available at your favorite music store March 17th.

About The Real Camilly

Early in his life, Camilly discovered he was attracted to music with a purpose. Inspired by the intricacy of classical melodies, he learned to play piano at the age of nine. This would become the foundation for his production efforts. Cam says, "When I was about twelve years old, I had no producers and I got so mad at how bad people were doing beats so I just taught myself how to do it. I started using little programs from the internet and I got good at it." Cam's involvement in spoken word poetry, coupled with his keen ear for instrumentals, eventually evolved into something extraordinary.

For more information:

http://www.myspace.com/therealcamilly

http://www.bwpentertainment.com

CONTACT: Bill Swik, press@musicexpand.com

[Via http://www.prnewswire.com]

John Gray Will Discuss His New Book Why Mars and Venus Collide

2009-03-02T16:15:00.000+02:00

PHILADELPHIA, March 2 /PRNewswire/ -- Join Jacqueline Foreman, host of Your Mental Health Talk Radio www.blogtalkradio.com/yourmentalhealth when she interviews national best-selling author John Gray whose first book Men Are From Mars, Women Are From Venus sold millions of copies worldwide. They will discuss his new book When Mars and Venus Collide: Improving Relationships by Understanding How Men and Women Cope Differently with Stress on Thursday, March 5th at 8 PM EST/5 PM PST.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090302/NY76774-a )

(Logo: http://www.newscom.com/cgi-bin/prnh/20090302/NY76774LOGO-b )

Over the last fifteen years, a new trend in relationships has emerged linked to increasing stress. Both couples and singles believe they are too busy or too exhausted to resolve their relationship issues, and often think their partners are either too demanding or just too different to understand. Attempting to cope with the increasing stress of working for a living, both men and women feel neglected at home. While some couples experience increasing tension, others have just given up, sweeping their emotional needs under the carpet. They may get along, but the passion is gone.

John Gray, PhD, the best selling relationship author of all time - is the author of 16 best-selling books including Men Are from Mars, Women Are from Venus: one of the best-selling books of the last decade. In the past fifteen years, over 40 million Mars Venus books have been sold in over 45 languages throughout the world. An expert in the field of communication, John Gray's focus is to help men and women understand, respect and appreciate their differences in both personal and professional relationships. In his many books, CD's, DVD's, tapes, workshops and seminars, he provides practical tools and insights to effectively manage stress and improve relationships at all stages and ages by creating the brain chemistry of health, happiness and lasting romance. His latest book, Why Mars & Venus Collide - which recently reached the Amazon top one hundred - reveals how men and women can improve relationships by understanding how they cope differently with stress. John Gray has appeared on Oprah, The Today Show, CBS Morning Show, Good Morning America, The Early Show, The View, Politically Incorrect, Larry King and others. He has been profiled in Newsweek, Time, Forbes, USA Today, TV Guide, People and New Age Journal, among others.

[Via http://www.prnewswire.com]

ABC Radio Networks Statement on the Passing of Paul Harvey

2009-03-01T01:34:00.000+02:00

DALLAS, Feb. 28 /PRNewswire/ -- The following is a statement from Jim Robinson, President of ABC Radio Networks, on the passing of Paul Harvey:

Paul Harvey was one of the most gifted and beloved broadcasters in our nation's history. As he delivered the news each day with his own unique style and commentary, his voice became a trusted friend in American households. His career in radio spanned more than seven decades, during which time countless millions of listeners were both informed and entertained by his "News & Comment" and "Rest of the Story" features. Even after the passing of his loving wife Angel in May 2008, Paul would not slip quietly into retirement as he continued to take the microphone and reach out to his audience. We will miss our dear friend tremendously and are grateful for the many years we were so fortunate to have known him. Our thoughts and prayers are now with his son Paul Jr. and the rest of the Harvey family.

Jim Robinson

President, ABC Radio Networks

[Via http://www.prnewswire.com]

For Florida Nonprofits: Free Fundraising Consulting Hotline

2009-02-28T18:05:00.000+02:00

FORT LAUDERDALE, Fla., Feb. 28 /PRNewswire/ -- Totally free, personalized fundraising consulting is now available for all Florida nonprofits 24/7 at www.fundraisershotline.com.

"Florida nonprofit fundraisers may ask anything they want - like How can I find donors? or How can I get my board to give more and to ask others to give? It's absolutely one-on-one attention. They won't be getting boilerplate answers," says Dr. Stephen L. Goldstein, creator of the hotline and president of The Nonprofit Institute, Educational Marketing Services in Fort Lauderdale.

"Nonprofits always have a hard time raising money. But many are really struggling in today's bad economy, especially in Florida. They need immediate professional advice tailored to their specific needs. But most nonprofits cannot afford to hire an expert to give them quick answers to their pressing questions. So, www.fundraisershotline.com gives them personal access to an experienced professional to be their sounding-board to increase their fundraising success," Goldstein adds.

That's what's so unique about the hotline. It's quick, efficient, direct --and free, of course. Getting answers from the hotline is simple. Go to www.fundraisershotline.com, fill out the short user form, ask a question, then send it to Dr. Goldstein. There is absolutely no cost or obligation. Every question is answered personally and within 24 hours.

Columnist, author, consultant, TV and radio personality, and workshop leader - Dr. Stephen L. Goldstein is a nationally recognized marketing, communications, and fundraising executive, as well as a trends analyst and forecaster. For more than 30 years, he has developed strategies for nonprofit success.

Dr. Goldstein is now the co-producer and host of "The Forum for Nonprofits," which airs on WNN & WSBR and may be heard 24/7 at www.forumfornonprofits.com. He was the producer and host of "Fundraising Success," a weekly radio program on WXEL, 90.7FM/National Public Radio and still available at any time from anywhere in the world at www.wxelpodcasts.org.

Dr. Goldstein's "Fundraising Guru" columns have appeared in The South Florida Sun-Sentinel and have been a regular feature of the Scripps papers on Florida's Treasure Coast. He is the author of the bestseller, 30 Days to Successful Fundraising.

Goldstein is also the developer of "Fundraising Briefing Books," the basis for the workshops and tailored consulting programs he offers nationwide.

    Media contact:
    Stephen Goldstern
    954-772-4455
    trendsman@aol.com

[Via http://www.prnewswire.com]

Seventh Annual Hispanic Television Summit Joins Advertising Week 2009

2009-02-27T20:36:00.000+02:00

Hispanic Television Summit to be held Wednesday, September 23 - Thursday, September 24, 2009 At the Marriott Marquis New York City

Signature Hispanic Television Industry Event presented annually by Multichannel News and Broadcasting & Cable To Join Advertising Week 2009 Lineup

NEW YORK, Feb. 27 /PRNewswire/ -- Leading television industry trade publications Multichannel News and Broadcasting & Cable have announced that, for the first time, they will present the annual Hispanic Television Summit during Advertising Week 2009.

According to Larry Dunn, Reed Television's Group Publisher for Multichannel News and Broadcasting & Cable, "We are pleased to add our Seventh Annual Hispanic Television Summit to the exciting line-up of major events scheduled during Advertising Week 2009. This marks the first time that the leading Hispanic television industry conference has been scheduled in tandem with the many other activities for members of the advertising community."

The Hispanic Television Summit has been presented annually since 2003. It is traditionally held in New York each autumn season and attracts more than 300 attendees from across the country, Latin America and Spain. The Summit has now become the television industry's signature conference for executives involved in the business of television and digital video targeted to the US Hispanic and Latin American viewing audience.

In 2008, Advertising Week's fifth anniversary edition attracted 55,000 industry leaders to nearly 200 thought leadership and special events featuring marquee participants including, the Founder of Wikipedia, Jimmy Wales, Founder of the Huffington Post, Arianna Huffington, Facebook's COO, Sheryl Sandberg, Emeril Lagasse, CNBC's Maria Bartiromo, Lorne Michaels, producer of Saturday Night Live and recording superstar Jon Bon Jovi.

"The Hispanic Television Summit is a terrific addition to our lineup and furthers our deep commitment to leveraging the platform Advertising Week affords to shine a light on our diverse and ever expanding industry," stated Matt Scheckner, Executive Director of Advertising Week.

This year's Advertising Week will run from Monday, September 21 through Friday, September 25. Information about all Advertising Week events and registration information is available at www.advertisingweek.com

"Strategically, this is a great alliance for us," added Larry Dunn. "By joining our successful Hispanic Television Summit into the Advertising Week schedule, we are able to create a win-win for those in the multicultural television advertising community. It is simply a great way to accommodate the busy schedules of today's advertising and television executives."

The distinctive topic of the Hispanic Television Summit always focuses on the latest trends for generating revenues within the Hispanic television and digital media space. It delivers the "freshest" industry information in response to the current trends in the television and digital video marketplace. As a result, the Summit attracts speakers, panelists, and participants who are top executives from broadcast, cable, satellite, broadband and mobile, as well as those from related businesses like advertising, finance, consumer electronics, video technology and other consumer goods.

The Summit is being produced for the seventh time for Multichannel News and Broadcasting & Cable by New York-based Schramm Sports & Entertainment, Inc., a leading marketing and media services company which includes Hispanic marketing of TV content among its specialties.

To register: visit www.multichannel.com/hispanicsummit09 or call Sandy Friedman at 646-746-6740

Multichannel News covers multichannel television and communications providers, such as cable operators, satellite TV firms, and telephone companies, as well as emerging Internet video and communication services. www.multichannel.com

Broadcasting & Cable covers the business of television for industry professionals offering breaking news and analysis on programming, syndication, the station business, technology and advertising for broadcasting, cable, satellite, telco TV and the Web. www.broadcastingcable.com

About Advertising Week:

Since its creation in 2004, Advertising Week has drawn thousands of participants from around the world to New York City for a week long think-tank comprised of over 200 different events, panels and discussions that focus on the power of advertising and its neighboring industries. Above and beyond celebration, the mission of The Week is to inspire young people to join the craft; focus the industry and public at-large on the social impacts of advertising; address the most important issues facing the industry and shine a bright light on the business and economic influence of the advertising, media and marketing industries. www.advertisingweek.com

[Via http://www.prnewswire.com]

Bank Expert Highlights the Untold Story of the Community Banking Industry on The Leaders Spot

2009-02-27T16:34:00.000+02:00

COLUMBIA, Md., Feb. 27 /PRNewswire/ -- Anita Gentle Newcomb, founder and president of A.G. Newcomb & Co., a strategic advisory firm for the banking industry, was recently featured on the Washington DC business radio show and website, The Leaders Spot. The show features top business leaders discussing their leadership styles, philosophies, challenges, successes, and industry trends.

Ms. Newcomb, an expert on banking strategies, illuminated part of the banking story that has been absent from most media coverage. Her work has provided insight into the fiscal health of many of the nation's 8,200 community banks. She believes that the state of "most of the nation's banks is quite different than what is currently being highlighted."

According to Ms. Newcomb, "Despite dire banking headlines, 98% of banks are 'well capitalized,' the highest capital level designation accorded by the FDIC." Ms. Newcomb points out that "Community banks have been painted with the same broad brush as larger banks and investment and mortgage companies. This has created a view that the banking industry is failing. But, the foundation of the banking industry, the smaller community banks, is sound and well positioned." She states that community banks are better positioned because many do not have a critical mass of high-risk loans, they have a loyal clientele, and they are working "daily and proactively" with their clients to mitigate damage. Ms. Newcomb noted, "Small banks are on the front line, already doing things that are being touted in the recovery plans. My clients are working with customers to bridge difficult circumstances." Contrary to what is being said in the media, community banks' loans increased last year.

She states that, "Customers and banks are in uncharted waters. Most customers have never felt such anxiety about their financial service relationships. This has created a tipping point in which consumers and businesses are reconsidering their banking relationships. There is a heightened sensitivity to security and trustworthiness, whereas in the past it was about convenience. Community banks have been the recipients of this influx of customers. Most community banks reported an increase in loans and deposits in the third quarter of 2008." Ms. Newcomb acknowledges that big banks play a critical role in the recovery and that it is imperative that they return to the fundamentals of banking: the building of sound, trusting relationships with their customers, "We are entering a new time that calls for new banking."

A podcast of Ms. Newcomb's interview can be heard at http://theleadersspot.com/archives/990.

Ms. Newcomb formed A.G. Newcomb & Co., headquartered in Columbia, Maryland, in 1999. The firm provides strategic advisory services to banks and their partners nationwide. The firm's expertise includes: consumer and business banking strategies; strategic planning; geographic and business line expansions; and acquisitions and divestitures.

www.AGNewcomb.com

[Via http://www.prnewswire.com]

Entravision Communications Corporation Reports Fourth Quarter and Year End 2008 Results

2009-02-26T21:05:00.000+02:00

-Net Revenue Decreases 7% in 2008-

SANTA MONICA, Calif., Feb. 26 /PRNewswire-FirstCall/ -- Entravision Communications Corporation (NYSE: EVC) today reported financial results for the three- and twelve-month periods ended December 31, 2008.

Historical results, which are attached, are in thousands of U.S. dollars (except share and per share data). The results of our outdoor operations are presented in discontinued operations within the statements of operations in accordance with SFAS 144, "Accounting for the Impairment or Disposal of Long-Lived Assets". This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each of these non-GAAP financial measures, and a table reconciling each of these non-GAAP financial measures to its most directly comparable GAAP financial measure, is included beginning on page 8. Unaudited financial highlights are as follows:

                                               Three Months Ended
                                                   December 31,
                                           2008           2007     % Change

    Net revenue                          $52,762        $62,514       (16)%
    Operating expenses (1)                35,226         36,119        (2)%
    Corporate expenses (2)                 4,414          4,669        (5)%

    Consolidated adjusted EBITDA (3)      13,948         22,283       (37)%

    Free cash flow (4)                    $3,532        $13,064       (73)%
    Free cash flow per share, basic
     and diluted (4)                       $0.04          $0.13       (69)%

    Income (loss) from continuing
     operations                        $(134,126)       $26,114        NM
    Net loss applicable to
     common stockholders               $(136,483)      $(47,051)      190%

    Net income (loss) per share from
     continuing operations applicable
     to common stockholders,
     basic and diluted                    $(1.56)         $0.26        NM
    Net loss per share applicable
      to common stockholders,
      basic and diluted                   $(1.58)        $(0.48)      229%

    Weighted average common shares
     outstanding, basic               86,185,661     98,806,107
    Weighted average common shares
     outstanding, diluted             86,185,661     99,276,283



                                               Twelve Months Ended
                                                   December 31,
                                           2008           2007     % Change

    Net revenue                         $232,335       $250,046        (7)%
    Operating expenses (1)               144,510        143,875         0%
    Corporate expenses (2)                17,117         17,353        (1)%

    Consolidated adjusted EBITDA (3)      74,104         91,779       (19)%

    Free cash flow (4)                   $26,572        $50,383       (47)%
    Free cash flow per share, basic
     and diluted (4)                       $0.29          $0.49       (41)%

    Income (loss) from continuing
     operations                        $(484,007)       $40,040        NM
    Net loss applicable to
     common stockholders               $(487,937)      $(43,117)       NM

    Net income (loss) per share from
     continuing operations applicable
     to common stockholders,
     basic and diluted                    $(5.34)         $0.39        NM
    Net loss per share applicable
      to common stockholders,
      basic and diluted                   $(5.39)        $(0.42)       NM

    Weighted average common shares
     outstanding, basic               90,560,685    102,382,307
    Weighted average common shares
     outstanding, diluted             90,560,685    103,020,657

    (1) Operating expenses include direct operating, selling, general and
        administrative expenses. Included in operating expenses are $0.4
        million and $0.2 million of non-cash stock-based compensation for the
        three-month periods ended December 31, 2008 and 2007, respectively
        and $1.4 million and $1.1 million of non-cash stock-based compensation
        for the twelve-month periods ended December 31, 2008 and 2007,
        respectively.  Operating expenses do not include corporate expenses,
        depreciation and amortization, impairment loss, gain (loss) on sale of
        assets and gain on debt extinguishment.
    (2) Corporate expenses include $0.5 million and $0.5 million of non-cash
        stock-based compensation for the three-month periods ended December
        31, 2008 and 2007, respectively and $1.9 million and $1.9 million of
        non-cash stock-based compensation for the twelve-month periods ended
        December 31, 2008 and 2007, respectively.
    (3) Consolidated adjusted EBITDA means operating income (loss) plus (gain)
        loss on sale of assets, depreciation and amortization, non-cash
        impairment loss, non-cash stock-based compensation included in
        operating and corporate expenses and syndication programming
        amortization less syndication programming payments.  We use the term
        consolidated adjusted EBITDA because that measure is defined in our
        syndicated bank credit facility and does not include (gain) loss on
        sale of assets, depreciation and amortization, non-cash impairment
        loss, non-cash stock-based compensation, net interest expense, gain
        on debt extinguishment, income tax expense (benefit), equity in net
        income (loss) of nonconsolidated affiliate, loss from discontinued
        operations and syndication programming amortization and does include
        syndication programming payments. The definition of operating income
        (loss), and thus consolidated adjusted EBITDA, excludes (gain) loss
        on sale of assets, depreciation and amortization, non-cash impairment
        loss, non-cash stock-based compensation, net interest expense, gain on
        debt extinguishment, income tax expense (benefit), equity in net
        income (loss) of nonconsolidated affiliate, loss from discontinued
        operations and syndication programming amortization and includes
        syndication programming payments. While many in the financial
        community and we consider consolidated adjusted EBITDA to be
        important, it should be considered in addition to, but not as a
        substitute for or superior to, other measures of liquidity and
        financial performance prepared in accordance with accounting
        principles generally accepted in the United States of America, such
        as cash flows from operating activities, operating income and net
        income. As consolidated adjusted EBITDA excludes non-cash (gain) loss
        of sales of assets, non-cash depreciation and amortization, non-cash
        impairment loss, non-cash stock-based compensation, net interest
        expense, gain on debt extinguishment, income tax expense (benefit),
        equity in net income (loss) of nonconsolidated affiliate, loss from
        discontinued operations and syndication programming amortization and
        includes syndication programming payments, consolidated adjusted
        EBITDA has certain limitations because it excludes and includes
        several important non-cash financial line items. Therefore, we
        consider both non-GAAP and GAAP measures when evaluating our business.
        Consolidated adjusted EBITDA is also used to make executive
        compensation decisions.
    (4) Free cash flow is defined as consolidated adjusted EBITDA less cash
        paid for income taxes, net interest expense and capital expenditures.
        Net interest expense is defined as interest expense, less non-cash
        interest expense relating to amortization of debt finance costs, less
        interest income less the change in the fair value of our interest rate
        swaps. Free cash flow per share is defined as free cash flow divided
        by the diluted weighted average common shares outstanding.

Commenting on the Company's earnings results, Walter F. Ulloa, Chairman and Chief Executive Officer, said, "Our fourth quarter results reflect the continuing impact of the global financial crisis and the recession, resulting in an advertising downturn. We are continuing to focus on debt reduction and are committed to further reducing our costs and operating as efficiently as possible in order to maximize our cash flows, without sacrificing the quality of our content or marketing efforts. Our audience shares remain strong in the nation's most densely populated Hispanic markets."

The Company also announced that it repurchased 3.3 million shares of Class A common stock for approximately $4.2 million in the fourth quarter of 2008. The Company repurchased 12.1 million shares of Class A common stock for approximately $50.4 million in 2008. The Company's Board of Directors has approved the retirement of all treasury stock repurchased as of December 31, 2008, and a total of 14.1 million treasury shares were retired on December 31, 2008.

Impairment of Television and Radio Segment Intangibles

In the fourth quarter of 2008, the Company recorded an impairment charge of $170 million, primarily related to television and radio FCC broadcasting licenses and goodwill as a result of an appraisal recently conducted on certain television and radio assets. For the 2008 year, the Company recorded an impairment charge of $610 million, primarily related to television and radio FCC broadcasting licenses and goodwill.

Financial Results

Cautionary Note Regarding Preliminary Quarterly Results

In connection with the preparation of our financial statements for the three- and twelve-month periods ended December 31, 2008, we are currently in the process of finalizing the provision for income taxes, which we intend to complete in time to permit a timely filing of our annual report for the period ended December 31, 2008.

                      Three Months Ended December 31, 2008 Compared to
                            Three Months Ended December 31, 2007
                                      (Unaudited)

                                                  Three Months Ended
                                                     December 31,
                                             2008        2007     % Change

    Net revenue                            $52,762     $62,514      (16)%
    Operating expenses(1)                   35,226      36,119       (2)%
    Corporate expenses(1)                    4,414       4,669       (5)%
    Depreciation and amortization            6,227       5,572       12%
    Impairment charge                      170,436           -       NM

    Operating income (loss)               (163,541)     16,154       NM
    Interest expense, net                  (14,943)    (17,266)     (13)%
    Gain on debt extinguishment              9,813           -       NM

    Loss before income taxes              (168,671)     (1,112)      NM

    Income tax benefit                      34,538      27,295       27%
    Net income (loss) before equity in
     net loss of nonconsolidated
     affiliates and discontinued
     operations                           (134,133)     26,183       NM
    Equity in net income (loss) of
     nonconsolidated affiliates                  7         (69)      NM

    Net income (loss) before
     discontinued operations              (134,126)     26,114       NM
    Loss from discontinued operations,
     net of tax                             (2,357)    (73,165)     (97)%

    Net loss                             $(136,483)   $(47,051)     190%

    (1)  Operating expenses and corporate expenses are defined on page 1.

Net revenue decreased to $52.8 million for the three-month period ended December 31, 2008 from $62.5 million for the three-month period ended December 31, 2007, a decrease of $9.7 million. Of the overall decrease, $6.0 million came from our television segment and was primarily attributable to a decrease in local and national advertising sales and advertising rates, which in turn was primarily due to the continuing weak economy. Additionally, $3.7 million of the decrease came from our radio segment and was primarily attributable to a decrease in local advertising sales and advertising rates as a result of the continuing weak economy, partially offset by revenue associated with the expansion of our radio division in Orlando.

Operating expenses decreased to $35.2 million for the three-month period ended December 31, 2008 from $36.1 million for the three-month period ended December 31, 2007, a decrease of $0.9 million. The decrease was primarily attributable to a decrease in expenses associated with the decrease in net revenue.

Corporate expenses decreased to $4.4 million for the three-month period ended December 31, 2008 from $4.7 million for the three-month period ended December 31, 2007, a decrease of $0.3 million. The decrease was attributable to the elimination of bonuses paid to executive officers.

The Company recorded an impairment charge of $170 million, primarily related to television and radio FCC broadcasting licenses and goodwill as a result of an appraisal recently conducted on certain television and radio assets for the three-month period ended December 31, 2008.

                     Twelve Months Ended December 31, 2008 Compared to
                           Twelve Months Ended December 31, 2007
                                      (Unaudited)

                                                    Twelve Months Ended
                                                       December 31,
                                               2008          2007    % Change

    Net revenue                             $232,335      $250,046      (7)%
    Operating expenses (1)                   144,510       143,875       0%
    Corporate expenses (1)                    17,117        17,353      (1)%
    Depreciation and amortization             23,412        22,565       4%
    Impairment charge                        610,456             -      NM

    Operating income (loss)                 (563,160)       66,253      NM
    Interest expense, net                    (41,199)      (44,596)     (8)%
    Gain on debt extinguishment                9,813             -      NM

    Income (loss) before income taxes       (594,546)       21,657      NM

    Income tax benefit                       110,705        18,047      NM
    Net income (loss) before equity in
     net income (loss) of
     nonconsolidated affiliates and
     discontinued operations                (483,841)       39,704      NM

    Equity in net income (loss) of
     nonconsolidated affiliates                 (166)          336      NM

    Net income (loss) before
     discontinued operations                (484,007)       40,040      NM
    Loss from discontinued operations,
     net of tax                               (3,930)      (83,157)    (95)%

    Net loss                               $(487,937)     $(43,117)     NM

    (1)  Operating expenses and corporate expenses are defined on page 1.

Net revenue decreased to $232.3 million for the twelve-month period ended December 31, 2008 from $250.0 million for the twelve-month period ended December 31, 2007, a decrease of $17.7 million. Of the overall decrease, $10.4 million came from our television segment and was primarily attributable to a decrease in local and national advertising sales and advertising rates, which in turn was primarily due to the continuing weak economy. Additionally, $7.3 million of the decrease came from our radio segment and was primarily attributable to a decrease in local advertising sales and advertising rates as a result of the continuing weak economy, partially offset by revenue associated with the expansion of our radio division in Orlando.

Operating expenses increased to $144.5 million for the twelve-month period ended December 31, 2008 from $143.9 million for the twelve-month period ended December 31, 2007, an increase of $0.6 million. The increase was primarily attributable to expenses associated with the expansion of our radio division in Orlando, an increase in rating services and an increase in rent and utility expense, partially offset by a decrease in expenses associated with the decrease in net revenue.

Corporate expenses decreased to $17.1 million for the twelve-month period ended December 31, 2008 from $17.4 million for the twelve-month period ended December 31, 2007, a decrease of $0.3 million. The decrease was attributable to the elimination of bonuses paid to executive officers.

The Company recorded an impairment charge of $610 million, primarily related to television and radio FCC broadcasting licenses and goodwill for the twelve-month period ended December 31, 2008.

Segment Results

The following represents selected unaudited segment information:

                                           Three Months Ended
                                              December 31,
                                      2008          2007    % Change
    Net Revenue
         Television                 $33,410       $39,380      (15)%
         Radio                       19,352        23,134      (16)%
             Total                  $52,762       $62,514      (16)%

    Operating Expenses (1)
         Television                 $21,082       $22,112       (5)%
         Radio                       14,144        14,007        1%
             Total                  $35,226       $36,119       (2)%

    Corporate Expenses (1)           $4,414        $4,669       (5)%

    Consolidated adjusted
     EBITDA (1)                     $13,948       $22,283      (37)%

    (1)  Operating expenses, Corporate expenses, and Consolidated adjusted
         EBITDA are defined on page 1.

Entravision Communications Corporation will hold a conference call to discuss its 2008 fourth quarter results on February 26, 2009 at 5 p.m. Eastern Time. To access the conference call, please dial 412-858-4600 ten minutes prior to the start time. The call will be webcast live and archived for replay at www.entravision.com.

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's TeleFutura network, with television stations in 20 of the nation's top 50 Hispanic markets. The Company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission.


                               (Financial Table Follows)


                       Entravision Communications Corporation
                       Consolidated Statements of Operations
                  (In thousands, except share and per share data)
                                      (Unaudited)

                                   Three-Month Period      Twelve-Month Period
                                   Ended December 31,      Ended December 31,
                                    2008        2007        2008       2007
    Net revenue (including
     related parties of $0, $165,
     $182 and $615)               $52,762     $62,514    $232,335    $250,046

    Expenses:
      Direct operating expenses
       (including related
       parties of $2,873, $3,048,
       $11,455 and $12,180)
       (including non-cash
       stock-based compensation
       of $171, $75, $633
       and $431)                   24,543      25,179     100,801      99,608
      Selling, general and
       administrative expenses
       (including non-cash
       stock-based compensation
       of $215, $143, $794
       and $678)                   10,683      10,940      43,709      44,267
      Corporate expenses
       (including non-cash
       stock-based compensation
       of $517, $470, $1,926
       and $1,884)                  4,414       4,669      17,117      17,353
      Depreciation and
       amortization (includes
       direct operating of $4,912,
       $4,362, $18,344 and $17,700;
       selling, general and
       administrative of $1,000,
       $1,003, $3,991 and $4,007;
       and corporate of $315,
       $207, $1,077 and $858)
       (including related
       parties of $580, $580,
       $2,320 and $2,320)           6,227       5,572      23,412      22,565
      Impairment charge           170,436           -     610,456           -
                                  216,303      46,360     795,495     183,793
        Operating income (loss)  (163,541)     16,154    (563,160)     66,253
    Interest expense (including
     related parties of $43, $58,
     $199 and $257)               (15,498)    (18,184)    (43,093)    (49,405)
    Interest income                   555         918       1,894       4,809
    Gain on debt extinguishment     9,813           -       9,813           -
        Income (loss) before
         income taxes            (168,671)     (1,112)   (594,546)     21,657
    Income tax benefit             34,538      27,295     110,705      18,047
        Income (loss) before
         equity in net income
         (loss) of
         nonconsolidated
         affiliate and
         discontinued
         operations              (134,133)     26,183    (483,841)     39,704
      Equity in net income
      (loss) of
       nonconsolidated affiliate        7         (69)       (166)        336
    Income (loss) from
     continuing operations       (134,126)     26,114    (484,007)     40,040
      Loss from discontinued
       operations, net of tax      (2,357)    (73,165)     (3,930)    (83,157)
    Net loss applicable to
     common stockholders        $(136,483)   $(47,051)  $(487,937)   $(43,117)

    Basic and diluted earnings
     per share:
    Net income (loss) per share
     from continuing operations
     applicable to common
     stockholders, basic
     and diluted                   $(1.56)      $0.26      $(5.34)      $0.39
    Net loss per share from
     discontinued operations,
     basic and diluted             $(0.03)     $(0.74)     $(0.04)     $(0.81)
    Net loss per share applicable
     to common stockholders,
     basic and diluted             $(1.58)     $(0.48)     $(5.39)     $(0.42)

    Weighted average common
     shares outstanding,
     basic                     86,185,661  98,806,107  90,560,685 102,382,307

    Weighted average common
     shares outstanding,
     diluted                   86,185,661  99,276,283  90,560,685 103,020,657



                         Entravision Communications Corporation
                       Consolidated Statements of Cash Flows
                              (Unaudited; in thousands)

                                     Three-Month Period   Twelve-Month Period
                                     Ended December 31,   Ended December 31,
                                        2008      2007       2008      2007

    Cash flows from operating
     activities:
      Net loss                      $(136,483) $(47,051) $(487,937) $(43,117)
      Adjustments to reconcile net
       loss to net cash provided
       by operating activities:
        Depreciation and
         amortization                   6,227     5,572     23,412    22,565
        Impairment charge             170,436         -    610,456         -
        Deferred income taxes         (34,653)  (26,152)  (112,190)  (18,589)
        Amortization of debt issue
         costs                            157       101        459       404
        Amortization of
         syndication contracts            628       720      2,883     1,798
        Payments on syndication
         contracts                       (705)     (851)    (2,840)   (1,830)
        Equity in net (income)
         loss of nonconsolidated
         affiliate                         (7)       69        166      (336)
        Non-cash stock-based
         compensation                     903       688      3,353     2,993
        Gain on debt extinguishment    (9,813)        -     (9,813)        -
        Change in fair value of
         interest rate swap
         agreements                     8,001    10,200     11,648    17,667
        Changes in assets and
         liabilities, net of effect
         of acquisitions and
         dispositions:
          (Increase) decrease in
           accounts receivable          7,508     3,098     11,156    (4,015)
          Decrease in prepaid
           expenses and other
           assets                         903     1,327        803        84
          Increase (decrease) in
           accounts payable,
           accrued expenses and
           other liabilities           (2,860)      120     (6,065)     (938)
        Effect of discontinued
         operations                       957    75,039     (1,273)   86,579

            Net cash provided by
             operating activities      11,199    22,880     44,218    63,265

    Cash flows from investing
     activities:
      Proceeds from sale of
       property and equipment and
       intangibles                          -        17    101,498        37
      Purchases of property and
       equipment and intangibles       (3,458)  (12,687)   (16,873)  (26,177)
      Purchase of a business                -         -    (22,885)        -
      Deposits on acquisitions              -         -       (200)        -
      Distribution from
       nonconsolidated affiliate            -       250          -       250
      Effect of discontinued
       operations                           -      (347)      (194)   (1,610)

            Net cash provided by
             (used in) investing
             activities                (3,458)  (12,767)    61,346   (27,500)

    Cash flows from financing activities:
      Proceeds from issuance of
       common stock                         -       561        785     7,353
      Payments on long-term debt      (56,666)  (11,272)   (67,702)  (13,692)
      Repurchase of Class U common
       stock                                -         -    (10,380)        -
      Repurchase of Class A common
       stock                           (4,299)  (15,561)   (50,837)  (61,006)
      Excess tax benefits from
       exercise of stock options          (56)     (573)       (81)        -

            Net cash used in
             financing activities     (61,021)  (26,845)  (128,215)  (67,345)

            Net decrease in cash
             and cash equivalents     (53,280)  (16,732)   (22,651)  (31,580)
    Cash and cash equivalents:
      Beginning                       117,574   103,677     86,945   118,525

      Ending                          $64,294   $86,945    $64,294   $86,945



                      Entravision Communications Corporation
           Reconciliation of Consolidated Adjusted EBITDA to Cash Flows
                             From Operating Activities
                             (Unaudited; in thousands)

    The most directly comparable GAAP financial measure is operating
    cash flow. A reconciliation of this non-GAAP measure to cash flows
    from operating activities for each of the periods presented is
    as follows:

                               Three-Month Period    Twelve-Month Period
                               Ended December 31,    Ended December 31,
                                 2008     2007        2008     2007

    Consolidated
     adjusted EBITDA (1)      $13,948   $22,283     $74,104   $91,779

    Interest expense          (15,498)  (18,184)    (43,093)  (49,405)
    Interest income               555       918       1,894     4,809
    Gain on debt
     extinguishment             9,813         -       9,813         -
    Income tax benefit         34,538    27,295     110,705    18,047
    Amortization of
     syndication contracts       (628)     (720)     (2,883)   (1,798)
    Payments on
     syndication
     contracts                    705       851       2,840     1,830
    Non-cash stock-based
     compensation included
     in direct operating
     expenses                    (171)      (75)       (633)     (431)
    Non-cash stock-based
     compensation included
     in selling, general
      and administrative
      expenses                   (215)     (143)       (794)     (678)
    Non-cash stock-based
     compensation
     included in
     corporate expenses          (517)     (470)     (1,926)   (1,884)
    Depreciation and
     amortization              (6,227)   (5,572)    (23,412)  (22,565)
    Impairment charge        (170,436)        -    (610,456)        -
    Equity in net income
     (loss) of
     nonconsolidated
     affiliates                     7       (69)       (166)      336
    Loss from discontinued
     operations                (2,357)  (73,165)     (3,930)  (83,157)
    Net loss                 (136,483)  (47,051)   (487,937)  (43,117)

    Depreciation and
     amortization               6,227     5,572      23,412    22,565
    Impairment charge         170,436         -     610,456         -
    Deferred income taxes     (34,653)  (26,152)   (112,190)  (18,589)
    Amortization of debt
     issue costs                  157       101         459       404
    Amortization of
     syndication contracts        628       720       2,883     1,798
    Payments on syndication
     contracts                   (705)     (851)     (2,840)   (1,830)
    Equity in net
     (income) loss of
     nonconsolidated
     affiliate                     (7)       69         166      (336)
    Non-cash stock-based
     compensation                 903       688       3,353     2,993
    Gain on debt
     extinguishment            (9,813)        -      (9,813)        -
    Change in fair value
     of interest rate
     swap agreements            8,001    10,200      11,648    17,667
    Changes in assets and
     liabilities, net of
     effect of acquisitions
     and dispositions:
      (Increase) decrease in
       accounts receivable      7,508     3,098      11,156    (4,015)
      Decrease in prepaid
       expenses and other
       assets                     903     1,327         803        84
      Increase (decrease) in
       accounts payable,
       accrued expenses
       and other liabilities   (2,860)      120      (6,065)     (938)
    Effect of discontinued
     operations                   957    75,039      (1,273)   86,579
    Cash flows from
     operating activities     $11,199   $22,880     $44,218   $63,265

    (1)  Consolidated adjusted EBITDA is defined on page 1.



                   Entravision Communications Corporation
                Reconciliation of Free Cash Flow to Net Loss
                         (Unaudited; in thousands)

    The most directly comparable GAAP financial measure is net income.
    A reconciliation of this non-GAAP measure to net income for each of the
    periods presented is as follows:

                                     Three-Month Period    Twelve-Month Period
                                     Ended December 31,    Ended December 31,
                                         2008      2007      2008      2007

    Consolidated adjusted EBITDA (1)  $13,948   $22,283    $74,104   $91,779
    Net interest expense (1)            6,787     6,965     29,093    26,526
    Cash paid for income taxes            171      (569)     1,566       542
    Capital expenditures (2)            3,458     2,823     16,873    14,328
    Free cash flow (1)                  3,532    13,064     26,572    50,383

    Capital expenditures (2)            3,458     2,823     16,873    14,328
    Non-cash interest (expense)
     income relating to amortization
     of debt finance costs and
     interest rate swap agreements     (8,156)  (10,301)   (12,106)  (18,070)
    Non-cash income tax benefit        34,709    26,726    112,271    18,589
    Gain on debt extinguishment         9,813         -      9,813         -
    Amortization of syndication
     contracts                           (628)     (720)    (2,883)   (1,798)
    Payments on syndication contracts     705       851      2,840     1,830
    Non-cash stock-based compensation
     included in direct operating
     expenses                            (171)      (75)      (633)     (431)
    Non-cash stock-based compensation
     included in selling, general
     and administrative expenses         (215)     (143)      (794)     (678)
    Non-cash stock-based compensation
     included in corporate expenses      (517)     (470)    (1,926)   (1,884)
    Depreciation and amortization      (6,227)   (5,572)   (23,412)  (22,565)
    Impairment charge                (170,436)        -   (610,456)        -
    Equity in net income (loss) of
     nonconsolidated affiliates             7       (69)      (166)      336
    Loss from discontinued
     operations                        (2,357)  (73,165)    (3,930)  (83,157)
    Net loss                        $(136,483) $(47,051) $(487,937) $(43,117)

    (1)  Consolidated adjusted EBITDA, net interest expense and free cash
         flow are defined on page 1.
    (2)  Capital expenditures is not part of the consolidated statement of
         operations.

[Via http://www.prnewswire.com]

New York Women in Communications Announces Presenters for the 2009 Matrix Awards

2009-02-26T16:26:00.000+02:00

DISTINGUISHED HONOREES AND PRESENTERS WILL INCLUDE...TOM HANKS, JULIANNE MOORE, BRIAN WILLIAMS, CAMPBELL BROWN, LINDA WELLS, LESLEE DART, JEFF ZUCKER, DONNY DEUTSCH AND MORE

NEW YORK, Feb. 26 /PRNewswire/ -- New York Women in Communications will present the 2009 Matrix Awards, sponsored by Seventeen, during a luncheon held at the Waldorf-Astoria in New York City to honor eight distinguished women on Monday, April 27, 2009. The prestigious annual award recognizes exceptional women who have established themselves in communications fields such as advertising, arts & entertainment, broadcasting, digital media, magazines, marketing, newspapers and public relations. Announced today, the award presenters, comprised of an extraordinary slate of men and women, personally selected by each honoree, will join the award ceremony to usher them into the elite group of Matrix Award honorees.

The Matrix Awards luncheon is recognized by New York's communications and entertainment community as one of the most outstanding events of the year, with more than fifteen hundred people expected to gather in salute of exceptional women in the communications fields. Portions of the proceeds from the Matrix Awards Luncheon go to their Foundation, which offers a full range of scholarships to women whether just beginning their careers or embarking on a professional transition.

The 2009 award honorees and their presenters are as follows:

Advertising: Linda Sawyer, chief executive officer, Deutsch, Inc.; Presented by Donny Deutsch, chairman, Deutsch, Inc.

Arts & Entertainment: S. Epatha Merkerson, award-winning actress, Law & Order; Presented by Jeff Zucker, president and chief executive officer, NBC Universal

Broadcasting: Campbell Brown, CNN anchor, "No Bias, No Bull"; Presented by Brian Williams, anchor and managing editor, NBC Nightly News

Digital Media: Dany Levy, founder and editorial director, DailyCandy.com; Presented by Kurt Andersen, writer

Magazines: Linda Wells, editor-in-chief, Allure Magazine; Presented by Julianne Moore, actress

Marketing: Sherrie Rollins Westin, executive vice president and chief marketing officer, Sesame Workshop; Presented by Joan Ganz Cooney, creator, Sesame Street and co-founder, Sesame Workshop

Newspapers: Monica Langley, deputy bureau chief, The Wall Street Journal; Presented by Paul Steiger, editor-in-chief, ProPublica

Public Relations: Leslee Dart, founder and chief executive officer, 42West; Presented by Tom Hanks, actor/producer

"Each year, it is a tremendous pleasure to celebrate the achievements of our distinguished honorees and to welcome their esteemed presenters to the Matrix Awards. We are thrilled to showcase 'Women Who Change the World,' and honor them with this award," said Nancy Rabstejnek Nichols, senior vice president, external affairs at Weber Shandwick Worldwide and president of New York Women in Communications.

TICKETS: Individual tickets for members and non-members, as well as information on sponsorships and program advertising opportunities are available at www.nywici.org.

The Matrix Awards

Since 1970, New York Women in Communications' Matrix Awards Luncheon has been recognized by New York's communications and entertainment communities as one of the most outstanding events of the year. Past recipients include Arianna Huffington, Katie Couric, Meryl Streep, Nora Ephron, Ann Moore, Toni Morrison, Barbara Waltersand Anna Quindlen.

Proceeds from the Matrix Awards Luncheon are used by New York Women in Communications to develop and maintain a full calendar of affordable programs and special events, networking and support systems for the organization's members and the community at large. Additionally, the New York Women in Communications Foundation awards scholarships and provides educational programs for women, whether just beginning their careers or embarking on a transition in their careers. It is the largest foundation for communications scholarships for women in the tri-state area. Recipients are introduced at the luncheon.

New York Women in Communications

New York Women in Communications, founded in 1929, is a not-for-profit organization of almost 2,000 communications professionals dedicated to promoting the highest standards throughout the industry and to providing education and leadership for the next generation. The membership encompasses senior executives and other experienced communicators from a wide range of enterprises as well as young professionals and students. The organization empowers women in all communications disciplines to reach their full potential by promoting their professional growth and inspiring them to achieve and share their successes in the rapidly changing world of communications.

Seventeen

Seventeen (www.seventeen.com) is the best-selling monthly teen magazine, reaching more than 13 million readers every month. In each issue, Seventeen reports on the latest in fashion, beauty, health and entertainment, as well as information and advice on the complex real-life issues that young women face every day. Readers can also interact with the brand on the digital front, with Seventeen mobile (m.seventeen.com). In addition to its U.S. flagship, Seventeen publishes 13 editions around the world. Seventeen is published by Hearst Magazines, a unit of Hearst Corporation (www.hearst.com) and one of the world's largest publishers of monthly magazines, with nearly 200 editions around the world, including 16 U.S. titles and 19 magazines in the United Kingdom, published through its wholly owned subsidiary, The National Magazine Company Limited. Hearst reaches more adults than any other publisher of monthly magazines (70.6 million total adults, according to MRI, Fall 2008).

    Contact:
    Kristen Kurtz: 212.297.2135
    kkurtz@kellencompany.com

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BIA and The Kelsey Group Forecast U.S. Local Ad Market to Contract Through 2013, Despite Gains in Digital Segments

2009-02-26T15:00:00.000+02:00

U.S. Local Media Annual Forecast indicates current economic conditions may accelerate the shift from traditional to digital platforms.

CHANTILLY, Va., Feb. 26 /PRNewswire/ -- Current and foreseeable economic conditions will reduce overall local advertising spending through 2013, according to the U.S. Local Media Annual Forecast (2008-2013) by BIA Advisory Services, LLC (www.bia.com) and its Kelsey Group (www.kelseygroup.com) division. BIA/Kelsey forecasts U.S. local advertising revenues to decline from $155.3 billion in 2008 to $144.4 billion in 2013, representing a negative 1.4 percent compound annual growth rate (CAGR).

Only the local interactive segment will show growth throughout the forecast period. All other local media will experience marginal to rapid declines in the next 18 to 36 months. A small number of traditional media will rebound with a revived economy beginning in 2011, though most traditional media will continue to decline, albeit at a slower pace.

"By the end of the forecast period, the overall size of the local advertising market will be considerably smaller than it was at the end of 2008," said Tom Buono, president and CEO, BIA Advisory Services. "As the shift to online accelerates, and the demand for accountability metrics grows, there is an increased urgency for traditional media companies to develop and embrace new business models that incorporate digital strategies in order to drive business over the next decade."

BIA and The Kelsey Group project the interactive share of local ad spending will more than double from 9 percent in 2008 to 22.2 percent in 2013. According to the forecast, the interactive segment (encompassing mobile, Internet Yellow Pages, local search, online verticals and classifieds, voice search, e-mail marketing and other interactive revenues generated by traditional media players) will grow from $14 billion in 2008 to $32.1 billion in 2013 (at a CAGR of 18%), while the traditional segment (encompassing newspapers, direct mail, television, radio, print Yellow Pages, out of home (non-digital), cable television and magazines) will decrease from $141.3 billion in 2008 to $112.4 billion in 2013 (CAGR of -4.5%).

"Within the local advertising sector, there will be a real share shift, and the players most ready to leverage and adopt interactive models will achieve greater success going forward," said Neal Polachek, CEO, The Kelsey Group. "The share shift we expect could actually be more pronounced if the major traditional media are not able to integrate new interactive products into their bundle. Successful integration will require considerable attention to business models, product innovation and sales channel evolution."

BIA/Kelsey U.S. Local Media Annual Forecast - The Big Picture on 'Local'

This year's forecast is the first to combine the deep and complementary resources and expertise of BIA and The Kelsey Group. It presents one comprehensive and authoritative view of the local media landscape, consisting of nine key segments: newspapers, direct mail, television, radio, print Yellow Pages, out of home (non-digital), cable television, magazines, and all digital and online interactive (which comprises mobile, Internet Yellow Pages, local search, online verticals and classifieds, voice search, e-mail marketing, and other interactive revenues generated by traditional media players).

BIA/Kelsey defines local advertising as spending by small and medium-sized businesses (SMBs), national advertisers and regional advertisers making local buys. The BIA/Kelsey U.S. Local Media Annual Forecast (2008-2013) draws from proprietary data; company, industry and country information in the public domain; and discussions with clients and non-clients about the direction and pace of development in the local media marketplace. Building off the forecast research, BIA/Kelsey will begin offering BIA Media Ad Views, market-specific custom reports that provide a comprehensive picture of the state of local media advertising and a five-year projection for nine different media segments.

About The Kelsey Group

The Kelsey Group, a division of BIA Advisory Services, LLC, is the leading provider of research, data and strategic analysis on directories, small-business advertising, online local media, vertical market advertising and mobile advertising. For more information about The Kelsey Group, visit www.kelseygroup.com. The Kelsey Group's Local Media Blog is located at http://blog.kelseygroup.com and the company can be found on Twitter through http://twitter.com/TheKelseyGroup.

About BIA Advisory Services, LLC

BIA Advisory Services, LLC, a subsidiary of BIA Financial Network, provides research, data, analysis, and financial and strategic consulting to media, telecommunications, technology, directory publishing, and local search companies. Additional information is available at www.bia.com. BIA's blog is located at http://blog.bia.com/bia/ and the company can be found on Twitter through http://twitter.com/BIAfn.

[Via http://www.prnewswire.com]

Former CFO for Dave Ramsey's 'The Lampo Group' Tapped to Lead Housing Public/Private Fund

2009-02-26T13:38:00.000+02:00

NASHVILLE, Tenn., Feb. 26 /PRNewswire/ -- Lon Cherry, recent Chief Financial Officer of popular radio and television personality Dave Ramsey's The Lampo Group, Inc., has been tapped to run Nashville-based U.S. Housing Renewal (http://www.ushousingrenewal.com), a public/private partnership seeking to provide home ownership to qualified families affected by the ongoing housing and financial crisis. "We all know that the American housing market is troubled, and I believe that U.S. Housing Renewal offers a 'win-win' solution for the banking system, the federal government, and, most importantly, the American people. I'm excited to have the opportunity to lead this partnership," said Mr. Cherry.

Mr. Cherry has spent the last four and a half years working with Mr. Ramsey, whose nationally syndicated "The Dave Ramsey Show" radio/television show and best-selling books have helped millions of individuals and groups to live debt-free. Prior to his tenure with The Lampo Group, Mr. Cherry was the Chief Operating Officer and Controller of other corporations, both for-profit and non-profit, and his many years of financial management leadership have given him a deep understanding of the importance of families and individuals living debt-free and avoiding the common financial pitfalls. He combines this experience with a heart for community advocacy.

U.S. Housing Renewal will be structured with a combination of public and private funds for the purpose of purchasing currently non-performing U.S. housing assets from financial institutions and transforming these houses into two-year lease-to-own situations for families who have either lost their homes or have been unable to purchase in the current financial environment. This structure will allow families to rebuild their credit, save for a cash down payment for their home, and complete a targeted educational course in personal finance to understand how to minimize spending and debt, all achieved while living in the home that they will eventually own. At the end of the two-year lease period, the families will purchase their home from the partnership at a discount to current market value using both their cash down payment and a safe, conventional 30-year fixed mortgage loan.

U.S. Housing Renewal is currently in discussions with several federal government agencies to acquire funding made available under both the American Recovery and Reinvestment Act of 2009 and the Troubled Assets Relief Program ("TARP"). All funds employed towards this solution will be held in trust until qualified properties are purchased, and then the deeds for these purchased properties will also remain in trust. At the end of the partnership's anticipated three-year lifecycle, it will repay all invested capital, plus an investment-grade return, back to the sourcing government agency.

Finally, and most importantly, the solution offered by U.S. Housing Renewal addresses a specific part of the housing crisis that is simply being ignored by most politicians and policymakers. President Obama's recently announced foreclosure assistance package is intended to stop future foreclosures via mortgage modification and other tourniquet-like measures necessary to stop the financial bleeding; however, this plan ignores the millions of hard-working Americans who have already lost their homes or who cannot purchase a home in the current financial environment. The solution offered by U.S. Housing Renewal encompasses the best that public/private partnerships have to offer. It combines the resources of the federal government with a market-based mechanism to provide home ownership to those Americans who need and deserve it most.

http://www.ushousingrenewal.com

    CONTACT:

    Matthew C. Stearns
    615.368.3354
    U.S. Housing Renewal
    Communications Director
    matthew_stearns@ushousingrenewal.com

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.

[Via http://www.prnewswire.com]

For Sale: Georgia's Media Freedom

2009-02-25T20:45:00.000+02:00

TBILISI, Georgia, February 25 /PRNewswire/ -- Media freedom in Georgia suffered another blow today when it was announced that Imedi, formerly the country's only independent TV station, is to be sold to RAK Georgia Holdings, an affiliate of the United Arab Emirates' owned property development company, Rakeen.

Imedi TV was the subject of a long running dispute between the Georgian government and the late businessman, Badri Patarkatsishvili, until his death in February last year. In November 2007, Imedi was forcibly shut down and has since been expropriated on behalf of the Georgian government. Patarkatsishvili's family commenced an international arbitration against the State of Georgia and named Josef Kay, a former Patarkatsishvili associate, as co-conspirator with the government in arranging the expropriation.

A spokesperson for Patarkatsishvili's family today said, "This Rakeen deal shows President Saakashvili is prepared to put Georgia's media freedom up for sale. Imedi was once the most important outlet for free speech in Georgia. Saakashvili and his government took Imedi and now plan to transfer it to a subsidiary of an Arab emirate with no experience in free broadcasting. This is how much the Georgian government cares for personal property and free speech."

Rakeen has only been in existence since 2007, when it was set up as a property development company by the Crown Prince and Deputy Ruler of Ras Al Khaimah, in the UAE. As Rakeen's own website shows, the company has no experience of running a media organization. Rakeen now appears to have been rewarded by the President of Georgia for its billion dollar investments in the country with a the Imedi TV company.

Actual ownership of RAK Georgia Holding is not clear. Patarkatsishvili's family asks the questions on many Georgian's minds: "We want to know and the Georgian people need to know exactly who is behind this company? Who are the so-called 'Georgian partners' in RAK Georgia Holdings? Do they include any Georgian government ministers?"

The timing of the Rakeen sale is illuminating. Last week, the Georgian court awarded Josef Kay authority to execute the contested will of the late Badri Patarkatsishvili, despite compelling evidence that Kay's case was based on forged documents and fraud. The judgment was widely viewed in Georgia as further evidence of political influence over the judicial system. Now, just five days after this decision, Kay has announced the sale of Imedi to the UAE based property development firm.

The family's spokesperson said. We intend to pursue all available legal recourse to halt this sale and return Imedi to its rightful owners."

"We will continue our fight to restore Imedi to its rightful owners and as an independent media voice for Georgia."

[Via http://www.prnewswire.com]

Astral Media Inc. Launches New Audio Branding Platform That Speaks to the Media Company's Diverse Audiences

2009-02-25T20:24:00.000+02:00

Hollywood-based sound design team creates eleven variations of the media conglomerate's signature audio sign-off, each customized to a different audience.

Listen to the new customized audio sign-offs: www.astralmedia.com/audioslogos

MONTREAL, Feb. 25 /PRNewswire/ -- Astral Media Inc. will release a new audio branding platform today that reflects the various audience segments in the media conglomerate's diverse broadcast network. Inspired by the company's commitment to serve highly targeted audiences in television, radio, outdoor and interactive media; Astral commissioned Musikvergnuegen, an award-winning and innovative sound design studio, to create 11 variations of the company's core 4-note audio sign-off. This venture in branding, through engineered sound, is a significant achievement, not only for Astral Media, but for all media enterprises looking for a way to balance effective corporate branding while still managing to reach individual markets with customized messages.

"We are taking the art and science of audio branding to a new level by achieving a true intimacy with our audiences, which we expect will deliver a greater return on marketing investment for the master brand," explains Alain Bergeron, Astral Media Inc. Vice President of Brand Management & Corporate Communications. "The more our message and brand identity can be customized within our community of unique consumers, the more effective we should be in captivating and building a loyalty within our diverse audiences."

Astral Media launched its first audio branding message in 2007 to provide its corporate identity with a friendly, engaging human expression of the company's brand character. The goal of this extension of the audio branding initiative is to continue creating value for the brand by building a multi-layered platform that is easily identifiable by a vast consumer base, and delivering this experience in less than five seconds. With Astral Media's landscape of properties continuing to expand and diversify, including the recent re-branding of four radio stations in association with Virgin Media, the company has decided the most efficient way to communicate with and engage its multi-faceted audience is to speak to each segment in a manner that shows appreciation for the individual personalities, while still managing to deliver the same overall brand identity and message.

"Astral Media is moving boldly to expand the discipline of audio branding to personalize its brand character with the most diversified audience possible," says Walter Werzowa, composer/sound designer and owner of Musikvergnuegen. "As far as we are aware, no media company has allowed for such specific, targeted audio branding across their diverse outlets; a mnemonic is the best vehicle to achieve this task."

Astral Media worked closely with composers and audio designers that specialize in corporate branding from the California based studio, Musikvergnuegen. This team of sound and marketing experts is lead by Werzowa, whose pioneering work on the famous Intel "bong" can be heard somewhere in the world every 5 minutes. Musikvergnuegen was contracted to compose personalized audio logos for 11 specific broadcast/radio stations and genres. Seven mnemonics have been created for radio, each one corresponding to Adult Contemporary, Radio News, Oldies, Rock, Soft Rock, Country and Pop Rock; Musikvergnugen also composed four additional Television mnemonics to compliment Movie, Kids, Pop, and Television News. Astral Media's core audio sign-off is the 4 note melody a1-b1-c#2-b1, which threads through the newly created sign-offs. This melody can be interpreted as a motif and/or as a riff. This creates the highest flexibility, allowing the mnemonic to blend with any musical style. The new customized audio sign-offs can be accessed at www.astralmedia.com/audioslogos.

About Astral Media

Astral Media is a leading Canadian media company, active in specialty and pay television, radio, outdoor advertising and interactive media. Astral Media's solid and dynamic presence in the country's major markets rests on its commitment to offer a unique combination of high-quality, targeted media for all its audiences. For more information, please visit www.astralmedia.com.

About Musikvergnuegen

Musikvergnuegen is a music and sound design production company located in Los Angeles, CA and founded by Austrian-born composer and sole owner, Walter Werzowa. Musikvergnuegen, which means "the pleasure of music" in German, specializes in audio branding. Most notably, they are responsible for having created the famous Intel audio logo along with mnemonics for LG, Comedy Central, Samsung, Delta Airlines, GM Goodwrench, and more. For more information and access to their reel, please visit www.musikvergnuegen.com.

    Press contacts:
    Matthew R. Bautista                 Annick Major
    Director, Media Relations           Director, Brand Deployment
    Paine PR                            Astral Media Inc.
    212-613-4924                        514-939-5000, extension 3139
    mbautista@painepr.com               amajor@corp.astral.com

[Via http://www.prnewswire.com]

Christophers to Honor Outstanding Work in Books, Film, TV at Diamond Anniversary Awards Gala in April

2009-02-25T19:15:00.000+02:00

NEW YORK, Feb. 25 /PRNewswire/ -- The 60th annual Christopher Awards in April will celebrate feature films, books for children and adults, broadcast and cable television programs, adding to the list of 1,336 authors, illustrators, screenwriters, producers and directors honored to date.

"The Christophers recognize media that remind audiences and readers of all ages and faiths, and of no particular faith, of their power to make a difference in their communities and the world-at-large," said Judith Trojan, director of the Awards, which will be presented at a gala on April 16th at the McGraw-Hill Building in New York City.

"There has been a lot of fine work to choose from this past year," added Trojan. "In the Books for Young People category alone, more than 500 books were submitted for consideration, an increase of 15 percent over last year." The Christophers also recognize special accomplishments in work with or for young people, and outstanding examples of leadership and life achievement.

The 2008 Christopher Life Achievement Award-winner, author/historian David McCullough, was immensely proud of his Award, which he now displays proudly in his library. "It gives me the chance to talk about the bedrock values The Christophers stand for and why having my work so honored means worlds to me," he noted.

Along with McCullough, other special Christopher Award-winning literary and media icons have included Dave Brubeck, Eli Wiesel, Mary Higgins Clark, Carroll O'Connor, Dr. Robert Coles, master puppeteer Caroll "Big Bird" Spinney, dance educator Jacques d'Amboise, and Children's Television Workshop creator Joan Ganz Cooney, as well as such landmark programming as "Masterpiece Theatre," "Mister Rogers' Neighborhood," "American Masters," "Face the Nation," and NBC's "The More You Know" public service spots.

The Christophers, a nonprofit organization founded in 1945 by Maryknoll priest Father James Keller, is rooted in the Judeo-Christian tradition of service to God and humanity. The ancient Chinese proverb -- "It's better to light one candle than to curse the darkness" -- guides its publishing, radio and awards programs. Visit www.christophers.org to learn more about The Christophers.

Contact David Reich, 212-573-6000

[Via http://www.prnewswire.com]

Mike Gillespie to Lead ZGS National Sales Operation

2009-02-25T14:00:00.000+02:00

WASHINGTON, Feb. 25 /PRNewswire/ -- ZGS Communications announced that Mike Gillespie will lead national sales for the ZGS station group. Gillespie currently serves as the Senior Vice President of Telemundo New England managing the Telemundo stations in Boston, Hartford/Springfield and Providence. His new responsibilities include strengthening the overall ZGS national sales efforts, increasing new business development initiatives and directing efforts with the Telemundo National Sales Offices (NSOs).

Gillespie will be drawing from his extensive sales experience. Prior to joining ZGS he was the Vice President of Network Sales for Telemundo in Dallas. "We have a great national sales team in Sandra Vera, Martin Arnaud and Lizette Vargas. I am excited to work more closely with them and the Telemundo NSOs," Mike Gillespie said.

"We are excited to have Mike lead this effort. He is an outstanding broadcast professional and his leadership and extensive experience will enhance our national sales effort," Ronald Gordon, President of ZGS Communications commented.

ZGS Communications is a Hispanic-owned broadcasting company, headquartered in Arlington, VA, that owns and operates eleven Spanish-language television stations, representing the largest group of independent stations affiliated with the Telemundo television network. The television stations are located in Boston, El Paso, Ft. Myers-Naples, Hartford, Orlando, Philadelphia, Providence, Raleigh, Springfield, MA, Tampa, and Washington, DC. In addition, ZGS owns three Spanish-language radio stations serving Washington, DC and Tampa. For over two decades ZGS has been a proud community broadcaster with a profound commitment to service, local programming, and the celebration of Hispanic heritage.

    Contact:
    Dana Carr
    The Castle Group, Inc.
    617-337-9515
    dcarr@thecastlegrp.com

[Via http://www.prnewswire.com]

Radio Award Winners Announced for the 44th Annual Academy of Country Music Awards

2009-02-24T17:57:00.000+02:00

LON HELTON WINS NATIONAL ON-AIR PERSONALITY OF THE YEAR, WIVK-FM & WYCT-FM EACH WIN TWO CATEGORIES

ENCINO, Calif., Feb. 24 /PRNewswire/ -- Today the Academy of Country Music is announcing the full list of radio award winners that will not be televised due to time constraints during the live telecast of the 44th ANNUAL ACADEMY OF COUNTRY MUSIC AWARDS. The ceremony, which honors country music's top talent as well as the industry's hottest emerging talent, is produced for television by dick clark productions and will be broadcast LIVE from MGM GRAND in Las Vegas on Sunday, April 5th, 2009 at 8:00 PM ET/PT on the CBS Television Network.

Lon Helton, the host of Westwood One's "Country Countdown USA" since its inception in 1992, has been named national On-Air Personality of the Year. He has been honored as the CMA's National Broadcast Personality of the Year four times and was inducted into the Country Music DJ Hall of Fame in 2006, the same year he launched the successful trade publication, Country Aircheck.

Double-nominees WIVK-FM and WYCT-FM both swept their categories, winning On-Air Personality of the Year and Radio Station of the Year for their respective markets.

Artist Kimberly Schlapman of Little Big Town, a member of the Academy of Country Music's Board of Directors, called all the winners this morning to surprise them with the news.

This year, individual On-Air Personality of the Year winners (or one individual from the teams who win Personality of the Year categories) will be invited to participate in the telecast as the voices for bumpers leading into commercials for the 44th Annual Academy of Country Music Awards.

    ON-AIR PERSONALITY OF THE YEAR WINNERS:
    NATIONAL                Lon Helton, Country Countdown USA
    MAJOR MARKET            Dorsey Gang - KSCS-FM, Dallas, TX
    LARGE MARKET            JD Cannon - WFMS-FM, Indianapolis, IN
    MEDIUM MARKET           Andy Ritchie, Alison West and Jimmy Holt
                             - WIVK-FM, Knoxville, TN
    SMALL MARKET            Brent Lane and Dana Cervantes - WYCT-FM,
                             Pensacola, FL

    RADIO STATION OF THE YEAR WINNERS:
    MAJOR MARKET            WSOC-FM, Charlotte, NC
    LARGE MARKET            WSIX-FM, Nashville, TN
    MEDIUM MARKET           WIVK-FM, Knoxville, TN
    SMALL MARKET            WYCT-FM, Pensacola, FL

About the Academy of Country Music Awards

The 44th Academy of Country Music Awards is dedicated to honoring and showcasing the biggest names and emerging talent in the country music industry. The show is produced for television by dick clark productions and will be broadcast LIVE from the MGM Grand Garden Arena in Las VegasSunday, April 5, 2009 at 8:00 PM live ET/delayed PT on the CBS Television Network. Orly Adelson and R.A. Clark are executive producers, Barry Adelman is producer and Bob Bardo is executive in charge of production.

    PRESS CONTACT:
    Julie Smith / Enjoli Duval
    BNC
    Office: 310.854.4800
    jsmith@bncpr.com
    eduval@bncpr.com

[Via http://www.prnewswire.com]

WEGENER(R) Previews New Retail Solutions at Digital Signage Expo 2009

2009-02-24T13:30:00.000+02:00

DULUTH, Ga., Feb. 24 /PRNewswire-FirstCall/ -- Wegener Corporation (Nasdaq: WGNR), a leading provider of equipment for television, audio and data distribution networks worldwide, today announced that it will provide a technology preview of the WEGENER iPump(R) 525 IP Media Player and WEGENER Compel Connect(TM) at Digital Signage Expo 2009 (Booth #2156), which runs Feb. 24-26 at the Las Vegas Convention Center in Las Vegas, Nevada.

Optimized for retail and other applications that require timely and visually compelling presentation of information, the combination of the new iPump 525 and Compel Connect provides an easy-to-use, integrated system for control of regional advertising, retail video displays, corporate communications, and news and information services.

Compel Connect is a new software-as-a-service (SaaS) that provides management tools for content distribution, scheduling, playout control, and continuous monitoring of WEGENER iPump media receivers/players. Using partitioned web access, clients have access to a full-featured remote Compel network control system via the Internet, as well as support for multiple users per network. Additional benefits include control of text and graphic overlays, real-time network health and status monitoring including report files, WEGENER support, file backup of data archives, and free automatic software updates.

The iPump 525 IP media player is the ideal product for projecting multimedia messaging to target audiences. With it, you can present your corporate message -- be it product advertising, critical information, training or entertainment -- right to the point where it will be most useful. Its output can be tailored on a site-by-site or regional basis, so advertisement- based signage systems can showcase specific products and services based on sales targets or availability. All video playout can be augmented with graphics and text, so it's easy to add local merchant contact information. Plus the iPump 525's text overlay feature can immediately update hundreds of displays with time sensitive information -- such as stock prices, flight schedules, and horse racing odds -- with a choice of static, scroll, or crawl formats. Output can be standard definition video, or attention getting 1080i high definition.

"Digital Signage Expo is the ideal venue for us to introduce the iPump 525 and Compel Connect, which let you easily control one, two or hundreds of digital signage installations," said Ned L. Mountain, President and COO of WEGENER. "You don't have to be limited to a common presentation across your entire network; WEGENER's retail solutions can provide custom messages to any number of locations simultaneously."

The iPump 525 IP media player supports standard definition (SD) and high definition (HD) video, including playlists with mixed formats. MPEG-1, MPEG-2, and MPEG-4 (H.264) video compression are supported, and outputs include composite (NTSC or PAL), S-Video, component, and HDMI. The five-pound unit is just over two inches high and about the size of a sheet of notebook paper and includes 80 GB of internal storage.

ABOUT WEGENER

WEGENER(R) (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (Nasdaq: WGNR), is an international provider of digital video and audio solutions for broadcast television, radio, telco, private and cable networks. With over 30 years experience in optimizing point-to-multipoint multimedia distribution over satellite, fiber, and IP networks, WEGENER offers a comprehensive product line that handles the scheduling, management and delivery of media rich content to multiple devices, including video screens, computers and audio devices. WEGENER focuses on long- and short-term strategies for bandwidth savings, dynamic advertising, live events and affiliate management.

WEGENER's product line includes: iPump(R) media servers for file-based and live broadcasts; Compel(R) Network Control and Compel(R) Conditional Access for dynamic command, monitoring and addressing of multi-site video, audio, and data networks; and the Unity(R) satellite media receivers for live radio and video broadcasts. Applications served include: digital signage, linear and file-based TV distribution, linear and file-based radio distribution, Nielsen rating information, broadcast news distribution, business music distribution, corporate communications, video and audio simulcasts.

WEGENER(R) can be reached at (770) 814-4000 or at www.wegener.com.

WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY, ASSURED FILE DELIVERY, PANDA, PROSWITCH, VIDATA, the stylized W-design logo (for WEGENER(R)), the stylized C-design logo (for Compel(R)) and the stylized PANDA design logo are all registered trademarks of WEGENER(R). All Rights Reserved.

This news release may contain forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, and the Company intends that such forward- looking statements are subject to the safe harbors created thereby. Forward- looking statements may be identified by words such as "believes," "expects," "projects," "plans," "anticipates," and similar expressions, and include, for example, statements relating to expectations regarding future sales, income and cash flows. Forward-looking statements are based upon the Company's current expectations and assumptions, which are subject to a number of risks and uncertainties including, but not limited to: customer acceptance and effectiveness of recently introduced products, development of additional business for the Company's digital video and audio transmission product lines, effectiveness of the sales organization, the successful development and introduction of new products in the future, delays in the conversion by private and broadcast networks to next generation digital broadcast equipment, acceptance by various networks of standards for digital broadcasting, the Company's liquidity position and capital resources, general market conditions which may not improve during fiscal year 2009 and beyond, and success of the Company's research and development efforts aimed at developing new products. Discussion of these and other risks and uncertainties are provided in detail in the Company's periodic filings with the SEC, including the Company's most recent Annual Report on Form 10-K. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. Forward-looking statements speak only as of the date the statement was made. The Company does not undertake any obligation to update any forward-looking statements.

[Via http://www.prnewswire.com]

Son of Legendary Sportscaster Carries on His Father's Legacy in Broadcasting

2009-02-24T13:10:00.000+02:00

John Schenkel of Schenkel Productions, son of legendary broadcaster Chris Schenkel, continues his father's excellence in broadcasting; Schenkel Productions, providing video programs nationwide, enters its 20th year in business with a new cutting-edge website

NORTH WEBSTER, Ind., Feb. 24 /PRNewswire/ -- Even though the two were on different sides of the camera, John Schenkel was privileged to work with his legendary broadcasting father, Chris Schenkel. Taught by the best, John carries on his father's values and traditions in television broadcasting with his company, Schenkel Productions.

As Schenkel Productions enters its third decade, the initial success is attributed to John following advice from his father to start his own company. "I was so fortunate to have not only great parents, but the best advisor in terms of my career. He was always there for me, making sure I made the right choices in business and life," John says.

The career of John Schenkel in video production began as a sixteen-year-old at the 1980 Lake Placid Winter Olympics. There he worked alongside his father as a production assistant. John took full advantage afforded and absorbed the behind-the-scenes production of an event where the eyes of the world would be tuned in. Schenkel Productions has been associated with past and current Presidents, numerous television networks, The Oprah Winfrey Show, Fortune 100 companies and live multi-camera events across the country.

This 20th year at Schenkel Productions sees an implementation of a new cutting-edge website. This is a tribute to his father's guidance in the business and how proud John is to be running a business with the Schenkel name. "The site is easy to navigate and visitors can easily find out about my company and take a look at my portfolio of past work. I even switch sides of the camera for a change by introducing the site on camera. Dad really would have gotten a kick out of that," John says.

Setting your company apart from the competition is a major goal in the business world. John believes in a hands-on approach in every aspect of the production process. "I believe this gives an edge over the competition," John says. Mobility is another feature Schenkel is proud of. "I rarely edit in the comfort of an edit suite. I offer totally mobile full HD editing. Technology has made it possible for me to edit anywhere. Clients like the fact that I can come to them to edit. Anywhere! I have even edited on a plane," John says.

Whether he's a videographer, producer, editor or DVD author, John looks forward to a next new challenge in his business. He points toward providing excellent, cost-effective video programs for his clients while leaving them with a pleasant experience in the process.

    Contact:

    John Schenkel
    Schenkel Productions
    Phone: 574-834-7625
    Fax: 574-834-7624
   http://www.schenkelproductions.com

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.

[Via http://www.prnewswire.com]

Grupo Radio Centro Reports Fourth Quarter and Year-End Results for the Period Ended December 31, 2008

2009-02-24T01:09:00.000+02:00

MEXICO CITY, Feb. 23 /PRNewswire-FirstCall/ -- Grupo Radio Centro, S.A.B. de C.V. (NYSE: RC, BMV: RCENTRO-A) (the "Company"), one of Mexico's leading radio broadcasting companies, announced today its results of operation for the fourth quarter and year ended December 31, 2008. All figures were prepared in accordance with the Mexican Financial Reporting Standards ("MFRS") issued by the Mexican Board for Research and Development of Financial Information Standards.

Fourth Quarter Results

Broadcasting revenue for the fourth quarter of 2008 was Ps. 231,342,000, representing an increase of 15.0% compared to the Ps. 201,177,000 reported in the fourth quarter of 2007. This increase was mainly attributable to higher advertising expenditures by the Company's clients, who purchased more airtime in the fourth quarter of 2008 compared to the same period of 2007. This was a result of a highly competitive environment, in which the Company sought to gain market share by offering attractive sales packages, as well as increasing the size of the Company's sales force.

The Company's broadcasting expenses (excluding depreciation, amortization and corporate, general and administrative expenses) for the fourth quarter of 2008 were Ps. 124,842,000, representing an increase of 17.9% compared to the Ps. 105,869,000 reported in the fourth quarter of 2007. This increase was primarily due to increased expenses related to expanded advertising campaigns undertaken by the Company during the fourth quarter of 2008 and higher sales commissions paid to the Company's sales force as a result of the increase in advertising sales. In addition, we had an increase in costs payable in U.S. dollars due to the depreciation of the Mexican peso against the U.S. dollar in the fourth quarter of 2008, specifically with regard to the five-year renewal of our agreement to operate XHFO-FM and the rental payments related to such operation.

For the fourth quarter of 2008, the Company reported broadcasting income (i.e., broadcasting revenue minus broadcasting expenses, excluding depreciation, amortization and corporate, general and administrative expenses) of Ps. 106,500,000, an 11.7% increase compared to the Ps. 95,308,000 reported in the fourth quarter of 2007. This increase in broadcasting income was mainly attributable to the increase in broadcasting revenue described above.

Depreciation and amortization expenses for the fourth quarter of 2008 were Ps. 7,944,000, a 2.9% increase compared to the Ps. 7,720,000 reported in the fourth quarter of 2007.

The Company's corporate, general and administrative expenses were Ps. 4,461,000 in the fourth quarter of 2008, a decrease of 6.8% compared to the Ps. 4,789,000 reported in the fourth quarter of 2007.

The Company reported operating income of Ps. 94,095,000 in the fourth quarter of 2008, a 13.6% increase compared to the Ps. 82,799,000 in operating income reported in the fourth quarter of 2007. This increase was due to the increased broadcasting revenue during the fourth quarter 2008 compared to the fourth quarter of 2007, as described above.

During the fourth quarter of 2008, other expenses, net, were Ps. 17,539,000, a 27.6% increase compared to the Ps. 13,743,000 reported in the fourth quarter of 2007. This increase was mainly attributable to higher legal expenses during the fourth quarter of 2008 compared to the same period of 2007.

The Company's comprehensive financing cost in the fourth quarter of 2008 was Ps. 1,825,000 compared to the Ps. 679,000 reported in the fourth quarter of 2007. This increase was mainly attributable to higher fees payable in U.S. dollars under our undrawn credit facility in the fourth quarter of 2008 compared to the fourth quarter of 2007

For the fourth quarter of 2008, the Company reported income before taxes of Ps. 74,731,000, an increase of 9.3% compared to the Ps. 68,377,000 reported in the fourth quarter of 2007, primarily from the increase in broadcasting income during the fourth quarter of 2008, as described above.

The Company recorded income taxes of Ps. 17,038,000 in the fourth quarter of 2008, a decrease of 25.7% compared to the Ps. 22,923,000 recorded in the fourth quarter of 2007 due to certain fiscal deductions taken for tax purposes.

As a result of the foregoing, the Company's net income for the fourth quarter of 2008 was Ps. 57,693,000, an increase of 26.9% compared to net income of Ps. 45,454,000 reported in the fourth quarter of 2007.

Twelve-Month Results

For the year ended December 31, 2008, broadcasting revenue was Ps. 735,105,000, representing a 12.3% increase compared to the Ps. 654,760,000 reported in the same period of 2007. The increase in broadcasting revenue was mainly attributable to an increase in advertising expenditures by the Company's clients, who purchased more airtime during 2008 than 2007. This was the result of a highly competitive environment, in which the Company sought to gain market share by offering attractive sales packages, as well as increasing the size of its sales force.

The Company's broadcasting expenses (excluding depreciation, amortization and corporate, general and administrative expenses) for the year ended December 31, 2008 were Ps. 452,350,000, an increase of 7.2% compared to the Ps. 421,970,000 reported in 2007. This increase was primarily due to (i) expenses related to extensive advertising campaigns undertaken by the Company; (ii) higher sales commissions to the Company's sales force, as a result of the increase in broadcasting revenues; and (iii) higher expenses related to the Company's market research in 2008 compared to 2007.

Broadcasting income (i.e., broadcasting revenue minus broadcasting expenses, excluding depreciation, amortization and corporate, general and administrative expenses) for the year ended December 31, 2008 was Ps. 282,755,000, an increase of 21.5% compared to the Ps. 232,790,000 reported 2007. This increase was mainly attributable to the increase in broadcasting revenue, as described above.

Depreciation and amortization expenses for the year ended December 31, 2008 were Ps. 31,720,000, a decrease of 5.8% compared to the Ps. 33,687,000 reported in 2007. This decrease was due to the Company no longer recording depreciation on certain Company assets whose useful lives have ended.

The Company's corporate, general and administrative expenses for the year ended December 31, 2008 were Ps. 14,461,000, a 2.1% decrease compared to the Ps. 14,774,000 reported in 2007.

As a result of the foregoing, the Company reported operating income of Ps. 236,574,000 for the year ended December 31, 2008, a 28.3% increase compared to the Ps. 184,329,000 reported in 2007.

Other expenses, net, for the year ended December 31, 2008 were Ps. 56,880,000, a 24.2% increase compared to the Ps. 45,806,000 reported in 2007. This increase was mainly attributable to higher legal expenses during 2008 compared to 2007.

The Company's comprehensive financing cost for 2008 was Ps. 7,678,000, a 31.2% increase compared to the Ps. 5,850,000 reported in 2007. This increase was mainly due to fees paid in connection with the amendment of the Company's credit facility in 2008. The increase in comprehensive financing cost was partially offset by the fact that the Company did not record a loss on its net monetary position in 2008 (due to a change in MFRS regarding inflation accounting), as compared to a loss on net monetary position of Ps. 3,477,000 recorded in 2007.

For the year ended December 31, 2008, the Company reported income before taxes of Ps. 172,016,000, a 29.7% increase compared to the Ps. 132,673,000 reported in 2007, mainly due to an increase in broadcasting revenue, as described above.

The Company recorded income taxes of Ps. 45,251,000 for the year ended December 31, 2008, compared to Ps. 41,554,000 recorded in 2007, primarily due to higher taxable income.

As a result of the foregoing, the Company reported net income of Ps. 126,765,000 for the year ended December 31, 2008, an increase of 39.1% compared to net income of Ps. 91,119,000 reported in 2007.

Company Description

Grupo Radio Centro owns and/or operates 14 radio stations. Of these 14 radio stations, Grupo Radio Centro operates 11 in Mexico City. The Company's principal activities are the production and broadcasting of musical and entertainment programs, talk shows, news and special events programs. Revenue is primarily derived from the sale of commercial airtime. In addition to the Organizacion Radio Centro radio stations, the Company also operates Grupo RED radio stations and Organizacion Impulsora de Radio (OIR), a radio network that acts as the national sales representative for, and provides programming to, Grupo Radio Centro-affiliated radio stations.

Note on Forward-Looking Statements

This release may contain projections or other forward-looking statements related to Grupo Radio Centro that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual or future results or events. Readers are referred to the documents filed by Grupo Radio Centro with the United States Securities and Exchange Commission, specifically the most recent filing on Form 20-F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward- looking statements are based on information available to Grupo Radio Centro on the date hereof, and Grupo Radio Centro assumes no obligation to update such statements.

    IR Contacts
    In Mexico:
    Pedro Beltran/Alfredo Azpeitia
    Grupo Radio Centro, S.A.B. de C.V.
    Tel: (5255) 5728-4800 Ext. 7018
    aazpeitia@grc.com.mx

    In NY:
    Maria Barona/Peter Majeski
    i-advize Corporate Communications, Inc.
    Tel: (212) 406-3690
    grc@i-advize.com.mx.



                      GRUPO RADIO CENTRO, S.A.B. DE C.V.
                     CONSOLIDATED AUDITED BALANCE SHEETS
                     as of December 31, 2008 and 2007 (1)
              (figures in thousands of Mexican pesos ("Ps.") and
                         U.S. dollars ("U.S. $") (2)

                                         December 31,
                                         2008           2007
                               U.S. $(2)      Ps.         Ps.
             ASSETS
    Current assets:
      Cash and temporary
       investments                6,727     93,054    167,011

    Accounts receivable:
      Broadcasting, net          21,768    301,101    195,707
      Other                         450      6,225      4,663
      Prepaid taxes                 217      3,007          0
                                 22,435    310,333    200,370

    Prepaid expenses              2,760     38,179     33,360
      Total current assets       31,922    441,566    400,741

    Property and equipment, net  33,620    465,034    461,555
    Deferred charges, net           351      4,850      6,047
    Excess of cost over book
     value of net assets of
     subsidiaries, net           59,924    828,863    828,863
    Other assets                    240      3,325      3,239
          Total assets          126,057  1,743,638  1,700,445

          LIABILITIES
    Current:
      Advances from customers    10,305    142,543    124,418
      Suppliers and other
       accounts payable           4,872     67,388     55,420
      Taxes payable               1,363     18,859     50,847
         Total current
          liabilities            16,540    228,790    230,685

    Long-Term:
      Reserve for labor
       liabilities                4,358     60,276     58,605
      Deferred taxes              1,575     21,782      5,130
          Total liabilities      22,473    310,848    294,420

      SHAREHOLDERS' EQUITY
    Capital stock                81,724  1,130,410  1,130,410
    Cumulative earnings          18,639    257,818    231,098
    Reserve for repurchase of
     shares                       3,169     43,837     43,837
    Majority shareholders'
     equity                     103,532  1,432,065  1,405,345
    Minority interest                52        725        680
         Total shareholders'
          equity                103,584  1,432,790  1,406,025
     Total liabilities and
      shareholders' equity      126,057  1,743,638  1,700,445

(1) Amounts for the fourth quarter 2007 are expressed in Mexican pesos with purchasing power as of December 31, 2007. As a result of a change in MFRS for periods beginning in 2008, we have not prepared 2008 amounts using inflation accounting or re-expressed 2007 amounts as of December 31, 2008.

(2) Peso amounts have been translated into U.S. dollars, solely for the convenience of the reader, at the rate of Ps. 13.832 per U.S. dollar, the noon buying rate for Mexican pesos on December 31, 2008 as published by Federal Reserve Bank of New York.


                      GRUPO RADIO CENTRO, S.A.B. DE C.V.
                  CONSOLIDATED AUDITED STATEMENTS OF INCOME
              for the three-month and twelve-month periods ended
                        December 31, 2008 and 2007 (1)
       (figures in thousands of  Mexican pesos ("Ps.") and U.S. dollars
             ("U.S. $")(2), except per Share and per ADS amounts)

                                 4th Quarter          Accumulated 12 months
                                 2008        2007          2008        2007
                        U.S.$ (2)    Ps.      Ps.   U.S.$ (1)  Ps.      Ps.

    Broadcasting revenue
     (3)                   16,725  231,342  201,177  53,145  735,105  654,760
    Broadcasting expenses,
     excluding
     depreciation,
     amortization and
     corporate, general
     and administrative
     expenses               9,026  124,842  105,869  32,703  452,350  421,970
    Broadcasting income     7,699  106,500   95,308  20,442  282,755  232,790

    Depreciation and
     amortization             574    7,944    7,720   2,293   31,720   33,687
    Corporate, general and
     administrative
     expenses                 323    4,461    4,789   1,045   14,461   14,774
    Operating income        6,802   94,095   82,799  17,104  236,574  184,329

    Other expenses, net    (1,268) (17,539) (13,743) (4,112) (56,880) (45,806)

    Comprehensive
     financing cost:
      Interest expense       (165)  (2,276)    (755)   (606)  (8,376)  (2,767)
      Interest income (3)      (2)     (34)     (85)     16      228      399
      (Loss) Gain on
       foreign currency
       exchange, net           35      485      (12)     34      470       (5)
      (Loss) Gain on net
       monetary position (4)    0        0      173       0        0   (3,477)
                             (132)  (1,825)    (679)   (556)  (7,678)  (5,850)

    Income before
     income taxes:          5,402   74,731   68,377  12,436  172,016  132,673

      Income taxes          1,232   17,038   22,923   3,271   45,251   41,554
    Net income              4,170   57,693   45,454   9,165  126,765   91,119

    Net income applicable
     to:
      Majority interest     4,169   57,673   45,443   9,162  126,720   91,098
      Minority interest         1       20       11       3       45       21
                            4,170   57,693   45,454   9,165  126,765   91,119

    Net income per Series
     A Share (5)                                     0.0563   0.7790   0.5598
    Net income per ADS (5)                           0.5067   7.0110   5.0382
    Weighted average
     common shares
     outstanding (000's) (5)                                 162,725  162,725

    (1)  Amounts for the fourth quarter 2007 are expressed in Mexican pesos
    with purchasing power as of December 31, 2007. As a result of a change in
    MFRS for periods beginning in 2008, we have not prepared 2008 amounts
    using inflation accounting or re-expressed 2007 amounts as of December 31,
    2008.

    (2)  Peso amounts have been translated into U.S. dollars, solely for the
    convenience of the reader, at the rate of Ps. 13.832 per U.S. dollar, the
    noon buying rate for Mexican pesos on December 31, 2008, as published by
    Federal Reserve Bank of New York.

    (3)  Broadcasting revenue for a particular period includes (as a
    reclassification of interest income) interest earned on funds received by
    the Company pursuant to advance sales of commercial air time to the extent
    that the underlying funds were earned by the Company during the period in
    question. Advances from advertisers are recognized as broadcasting revenue
    only when the corresponding commercial air time has been transmitted.
    Interest earned and treated as broadcasting revenue for the fourth quarter
    of 2008 and 2007 was Ps. 2,130,000 and Ps. 1,848,000, respectively.
    Interest earned and treated as broadcasting revenue for the twelve months
    ended December 31, 2008 and 2007 was Ps. 6,510,000 and Ps. 3,333,000,
    respectively.

    (4) As a result of a change in MFRS for periods beginning in 2008, we will
    no longer use inflation accounting unless the economic environment is
    "inflationary", as defined by MFRS. Since the economic environment was not
    inflationary in the fourth quarter 2008, we have not reported gain (loss)
    on net monetary position for this period.

    (5) Earnings per share calculations are made for the last twelve months as
    of the date of the income statement, as required by the Mexican Stock
    Exchange.

[Via http://www.prnewswire.com]

SIRIUS XM Radio Broadcasts First Interview With Archbishop Timothy Dolan and Edward Cardinal Egan Exclusively on The Catholic Channel

2009-02-23T19:00:00.000+02:00

Archbishop Dolan was named the next Archbishop of New York today by His Holiness, Pope Benedict XVI

Dolan sat for the interview along with the man he succeeds, Cardinal Egan, who is retiring after nearly nine years as Archbishop of New York

Exclusive one-on-one interview replays throughout the day on The Catholic Channel, SIRIUS channel 159 and XM channel 117; Audio can be heard at www.sirius.com/thecatholicchannel

NEW YORK, Feb. 23 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) aired this morning the first interview with the newly-appointed Archbishop of New York, Archbishop Timothy Dolan, and the man he is succeeding in that post, His Eminence Edward Cardinal Egan, exclusively on The Catholic Channel, SIRIUS channel 159 and XM channel 117.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

This morning, His Holiness, Pope Benedict XVI, announced that Archbishop Dolan, who has served as the Archbishop of Milwaukee since 2002, will be the next Archbishop of New York. Archbishop Dolan will assume the post on April 15, 2009, succeeding His Eminence Edward Cardinal Egan, who is retiring after nearly nine years in that position.

The interview, which was conducted by Catholic Channel program director Rob Astorino and aired live this morning from the residence at St. Patrick's Cathedral, will be rebroadcast throughout the day on The Catholic Channel. The audio can also be heard online at www.sirius.com/thecatholicchannel.

Interview highlights:

His Eminence, Cardinal Egan: "We're delighted to have the Archbishop here with us. I've known the Archbishop since the early 1990s. I was the Chairman of the Board of Trustees of the Pontifical North American College when we had the good sense to ask him to be our rector. This is in Vatican City. And he did a splendid job as rector. I worked with him and we had a very good time together and I was delighted to know that the Holy Father was going to be naming him to New York."

***********************

Archbishop Dolan: "What was it, about nine or ten days ago that it became final, that the Apostolic Nuncio called me and told me that the Holy Father had nominated me to be Archbishop of New York. I had been through that twice before, once when I was asked to be Auxiliary Bishop of St. Louis and then when I was asked to be Archbishop of Milwaukee. Although, I think those two times the Nuncio said, 'The Holy Father would like you to.' This time Archbishop [Pietro] Sambi was very factual. He said, 'The Holy Father has appointed you Archbishop of New York.' And I really sensed the liberation of obedience. I said, 'Well, you know, there we go. Let's do it.' We trust in The Lord and go ahead. And I'm sure the first person he called was Cardinal Egan to tell him, too. So these have been days of prayer. These have been days of excitement and anticipation."

***********************

Archbishop Dolan: "Those are two great Archdioceses, St. Louis and Milwaukee, but you know what you've got here in New York. Just to listen to the Cardinal, just to page through the diocesan directory, when you look at over 400 vibrant parishes, when you look at 279 Catholic schools, when you look at your massive Catholic charities. It is the backbone, especially so needed today with the economic duress that our great people are struggling under. And 200 years. You just had a magnificent bicentennial crowd with the visit of the successor of [Saint] Peter. You talk about a gem. Are there challenges? Sure. But where isn't there? In every family, in every business, in every parish there are challenges and I'm sure there are in the Archdiocese. The Cardinal has been very realistic in cueing me in on a couple of them. But in general, you talk about sound health, thanks be to God."

***********************

Catholic Channel host, Rob Astorino: "What would be your first order of business when you get here? Once you get settled in what do you need to start doing?"

Archbishop Dolan: "I think to listen, to learn, to pray. There's an awful lot to learn and you can't be a good teacher unless you are first a disciple. So I just need to learn and the Cardinal has already started the tutoring. A lot of reading, a lot of listening, a lot of meeting people. You can't go wrong with just listening to your priests and your people. Do you have dreams? Sure. It sounds pretty much now like the greatest mission I have is to continue the excellent vitality and the growth and the progress of the Archdiocese of New York. Is that ever a blessing to inherit that."

***********************

On The Catholic Channel on SIRIUS XM:

Archbishop Dolan: "The Cardinal said we can break into SIRIUS XM Radio and I said, 'Not if they're [airing] a Notre Dame football game, we can't!' That would be getting off on the wrong foot! But we appreciate this time and do I ever look forward to [it]. You talk about this year of St. Paul, what an excellent means of communication. Thanks for your work. God Bless everybody."

Astorino: "Thank you Archbishop and no Brewers [talk], this is Yankees/Mets territory."

Archbishop Dolan: "So I hear."

The Catholic Channel launched on SIRIUS in 2006 featuring a modern format with an open dialogue focused on Catholicism in the 21st century. The Catholic Channel's exclusive daily programming lineup features shows hosted by Cardinal Egan, Fr. Dave Dwyer, Gus Lloyd, Bob Dunning, "The Catholic Guy" Lino Rulli, and others. Programming on The Catholic Channel also includes human-interest stories and inspirational themes, reflections on Scripture, Church history, sacred music, shows offering spiritual guidance, and football and basketball games from the University of Notre Dame. Visit www.sirius.com/thecatholicchannel for more info.

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 18.9 million subscribers.

SIRIUS XM Radio has content relationships with an array of personalities and artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett, Jamie Foxx, Barbara Walters, Opie & Anthony, Bubba the Love Sponge(R), The Grateful Dead, Willie Nelson, Bob Dylan, Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball(R), NASCAR(R), NBA, NHL(R), and PGA TOUR(R), and broadcasts major college sports.

SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, RadioShack, Target, Sam's Club, and Wal-Mart.

SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic(R) service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.

This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving SIRIUS and XM, including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "should," "may," or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: general business and economic conditions; the performance of financial markets and interest rates; the failure to realize synergies and cost-savings from the merger or delay in realization thereof; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' and XM's Annual Reports on Form 10-K for the year ended December 31, 2007 and their respective Quarterly Reports on Form 10-Q for the quarter ended September 30, 2008, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

P-SIRI

    Contacts for SIRIUS XM Radio:

    Andrew FitzPatrick
    SIRIUS
    212.901.6693
    afitzpatrick@siriusradio.com

[Via http://www.prnewswire.com]

Broadcast Management at Its Best Comes to New York

2009-02-23T17:44:00.000+02:00

NEW YORK, Feb. 23 /PRNewswire/ -- S4M Solutions for Media, a leading manufacturer of software for the broadcast industry, is turning its attention to the North American market.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090223/NY73644LOGO )

Following successful projects with some of Canada's biggest media companies, the broadcasting and media IT experts are looking to convince broadcasters in the US and Canada of S4M's fully integrated, cross-media software suite and cutting edge business tools. To achieve this, the German company is increasing its presence at the offices in New York and Toronto, while also strengthening partnerships within the industry and with Microsoft.

Solutions for Media will be present at NAB 2009 in Las Vegas, where they have been invited to exhibit alongside Microsoft and also hold its own presentations and demonstrations together with German newsroom systems manufacturer Annova Systems.

S4M's product portfolio includes solutions for:

Channel Management, Licensing and Scheduling
Cross-platform Ad Sales, including Web and Mobile
Media Analysis
Production
Digital Media Management
Data Warehousing

Solutions for Media broadcast management systems are used in thirty countries, where customers manage more than $15 billion of media advertising and media assets every year. The S4M offices in United States, Canada, Germany, and Malaysia provide customers with 24/7 support world-wide.

From commercial air time sales to program planning and rights licensing - S4M's integrated Broadcast Management Systems support broadcasters the way they need it.

S4M - Solutions for Media GmbH

The Cologne (Germany) based company S4M - Solutions for Media, a subsidiary of arvato systems and RTL Television develops and distributes software solutions specialized for the broadcast- and new media industry. Today, S4M systems are used in 30 countries around the world. If your broadcasting business needs solutions for commercial air time sales, video content management, program planning, rights licensing, ratings evaluation or production planning - S4M has got the answer. Furthermore, the S4M portfolio includes professional consulting services to pass along combined knowledge of media and IT to customers.

www.s4m.com

    CONTACT:
    S4M - Solutions for Media GmbH
    arvato systems North America Inc.
    1700 Broadway, 26th floor
    New York, NY 10019, USA
    Ulrich Schueler / Eivind Sandstrand
    Email: na@s4m.com
    Tel:  +1.212.782.0321


    PRESS CONTACT:
    S4M - Solutions for Media GmbH
    Am Coloneum 3
    50829 Cologne
    Germany
    Marcus Metzner
    Email: presse@s4m.com
    Tel:  +49.221.285550

[Via http://www.prnewswire.com]

Alfred P. Sloan Foundation Awards Sloan Industry Studies Fellowships to Three Early Career Researchers

2009-02-23T17:09:00.000+02:00

NEW YORK, Feb. 23 /PRNewswire-USNewswire/ -- The Alfred P. Sloan Foundation is pleased to announce the selection of three outstanding young researchers to receive the 2009 Sloan Industry Studies Fellowships. These Fellows are each engaged in ground-breaking investigational work that is increasing the knowledge of complex influences shaping today's industries.

"The Industry Studies Fellowships support the work of researchers early in their academic careers who are recognized for their exceptional promise to contribute to the advancement of knowledge as well as to U.S. industrial development," says Paul L. Joskow, President of the Alfred P. Sloan Foundation. "Each Fellow receives a grant of $45,000 for a two-year period and is free to pursue whatever line of inquiry or research that is most interesting to them and their industry partners."

To carry out their research, all Industry Studies Fellows have developed strong partnerships within their chosen industries. Similar to the prestigious Sloan Research Fellowships, the Industry Studies Fellowships recognize junior faculty from a variety of academic disciplines - economics, management, engineering, political science, and related or interdisciplinary areas.

The 2009 Sloan Industry Studies Fellows are:

Gabriel Rossman, Assistant Professor, University of California, Los Angeles, Department of Sociology (Radio Industry)

John Taylor, Assistant Professor, Columbia University, Civil Engineering & Engineering Mechanics (Engineering Design Services)

Rahul Telang, Assistant Professor, Carnegie Mellon University, Heinz School of Public Policy and Management (Digital Media Industry)

Candidates for Industry Studies Fellowships are nominated and recommended by their department chairs and other senior scholars and executives from throughout the U.S. and Canada who are familiar with their talents and promise.

The Alfred P. Sloan Foundation, established in 1934, makes grants to support original research and broad-based education related to science, technology, and economic performance; and to improve the quality of American life. The Foundation believes that a carefully reasoned and systematic understanding of the forces of nature and society, when applied inventively and wisely, can lead to a better world for all. Please visit the Foundation's Web site at www.sloan.org.

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Hispanics Across the Country Pledge More Than $6 Million During Univision Radio Event to Help St. Jude Fight Childhood Cancer

2009-02-20T23:02:00.000+02:00

MEMPHIS, Tenn., Feb. 20 /PRNewswire-USNewswire/ -- During the annual Promesa y Esperanza (Promise and Hope) radiothon with Univision Radio, the leading Spanish-language radio group, Hispanics across the country opened their hearts to help save kids battling cancer at St. Jude Children's Research Hospital(R), one of the world's premier pediatric cancer research centers. On February 5 and 6, Promesa y Esperanza generated more than $6 million in cash and pledges to help St. Jude continue its groundbreaking research and lifesaving care.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090220/DC73645)

"We are very thankful for the incredible support that Univision Radio, its staff and listeners have shown for the children of St. Jude," said David L. McKee, interim CEO and chief operating officer of ALSAC, the fundraising organization of St. Jude. "These pledges will help our doctors and scientists continue conducting the groundbreaking research and developing the lifesaving care that will create hope for thousands of children in communities around the world."

During the two-day radiothon, listeners from cities like New York, Los Angeles, Chicago, Miami, San Francisco, Dallas, Phoenix, Las Vegas, San Diego, Houston, Austin, San Antonio, Albuquerque, Fresno, and El Paso and from Puerto Rico jammed phone lines to make a pledge of hope. With a monthly $20 donation, callers became Angeles de Esperanza (Partners in Hope). These monthly donations help St. Jude keep its promise that no child is ever denied treatment at St. Jude because of a family's inability to pay.

St. Jude patients joined Univision DJ's in radio booths across the country to share their story with listeners and volunteers, as well as with audiences from Univision's top rated syndicated shows such as "Piolin por la Manana" and "El Pistolero". Stars from the Latin music world also joined in the fight against childhood cancer, including singers Luis Fonsi, Fanny Lu, Chenoa and Monte Rosa, as well as some of Univision's most popular television personalities, including Neida Sandoval, Ana Maria Canseco, Karla Martinez, Fernando Arau and Raul Gonzalez from "Despierta America" (Wake Up America), Charytin Goyco, Felipe Viel and Lilia Luciano from "Escandalo TV" (Showbiz TV), Javier Romero from "Sabado Gigante" (Giant Saturday), and Carlos Calderon from "El Gordo y La Flaca" (The Scoop and the Skinny) and "Acceso Maximo" (All Access).

"We are extremely proud and honored to work with St. Jude on such a life-changing cause," said Gary Stone, president and chief operating officer, Univision Radio. "The response from our listeners and employees -- our Univision family -- during the radiothon has been inspiring and speaks to our commitment to contributing to the St. Jude mission of helping save children's lives."

St. Jude Children's Research Hospital

St. Jude Children's Research Hospital is internationally recognized for its pioneering work in finding cures and saving children with cancer and other catastrophic diseases. St. Jude is the first and only pediatric cancer center to be designated as a Comprehensive Cancer Center by the National Cancer Institute. Founded by late entertainer Danny Thomas and based in Memphis, Tenn., St. Jude freely shares its discoveries with scientific and medical communities around the world. St. Jude is the only pediatric cancer research center where families never pay for treatment not covered by insurance. No child is ever denied treatment because of the family's inability to pay. St. Jude is financially supported by ALSAC, its fundraising organization. For more information, please visit www.stjude.org.

Univision Communications Inc.

Univision Communications Inc. is the premier Spanish-language media company in the United States. Its operations include Univision Network, the most-watched Spanish-language broadcast television network in the U.S. reaching 97% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, which was launched in 2002 and now reaches 85% of U.S. Hispanic Households; Galavision, the country's leading Spanish-language cable network; Univision Television Group, which owns and operates 64 television stations in major U.S. Hispanic markets and Puerto Rico; Univision Radio, the leading Spanish-language radio group which owns and/or operates 70 radio stations in 16 of the top 25 U.S. Hispanic markets and 5 stations in Puerto Rico; and Univision Interactive Media, which includes http://www.univision.com, the premier Spanish-language Internet destination in the U.S., and Univision Movil, the industry's most comprehensive Spanish-language suite of mobile offerings. Univision Communications also has a 50% interest in TuTv, a joint venture formed to broadcast Televisa's pay television channels in the U.S. Univision Communications has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States.

For more information, please visit www.univision.net

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Virginia Gubernatorial Candidates to be Featured on 'Inside Government'

2009-02-19T22:04:00.000+02:00

AFL-CIO, AFGE Leaders Also to Discuss Employee Free Choice Act

WASHINGTON, Feb. 19 /PRNewswire-USNewswire/ -- This week, the American Federation of Government Employees' 'Inside Government' radio show will feature Virginia gubernatorial candidates Terry McAuliffe and Brian Moran, who both attended AFGE's recent Legislative and Grassroots Mobilization Conference. The show will air on Friday, Feb. 20 at 10 a.m. ET nationwide on Federal News Radio at www.federalnewsradio.com and 1500 AM in the Washington, D.C., area.

McAuliffe will discuss his political history, including his time as DNC chairman, and offer solutions to economic issues facing Virginians. Moran then will address his plan to create jobs in Virginia and rebuild infrastructure. But first, hear from AFL-CIO Executive Vice President Arlene Holt Baker as she outlines the importance of passing the Employee Free Choice Act and AFGE 2nd District National Vice President Derrick Thomas, who will address AFGE's efforts at getting the Employee Free Choice Act passed, and a renewed sense of optimism within the federal workforce.

Additionally, Paul Ferris, AFGE Department of Defense Local 2516 president, will share his thoughts on the National Security Personnel System and its impact on worker morale. AFGE Local 237 President Robert McNeil will discuss the need for collective bargaining rights at the Transportation Security Administration (TSA), whistleblower protections for Transportation Security Officers, and President Obama's campaign letter promising change at TSA.

'Inside Government' is hosted by AFGE Assistant General Counsel J. Ward Morrow. Programs are archived on the Federal News Radio Web site and can be heard on demand at http://www.federalnewsradio.com/?nid=52 or http://www.afge.org/insidegovernment. Please note there will be a short advertisement prior to the start of the program. The program also is available via iTunes podcast by clicking here. Users must install iTunes on their computers before accessing 'Inside Government' via podcast.

The program also airs on Saturdays at 6 a.m. on News Talk 940 WMAC in Macon, Ga., sponsored by AFGE Local 987, and on Sundays at 9 p.m. on KSL Newsradio 102.7 FM and 1160 AM in Salt Lake City, sponsored by AFGE Local 1592.

For more information, please e-mail InsideGovernment@afge.org or go to www.federalnewsradio.com.

'Inside Government' is a one-hour weekly nationwide radio/Internet program dedicated to issues that impact federal and D.C. government employees. The show airs each Friday at 10 a.m. on Federal News Radio 1500 AM in Washington, D.C. and online at www.federalnewsradio.com. It is also available to 70 million iPod users through Apple's iTunes podcast. 'Inside Government' is produced by The American Federation of Government Employees (AFGE), the nation's largest federal employee union, representing 600,000 workers in the federal government and the government of the District of Columbia.

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SIRIUS XM Radio to Broadcast Exclusive Weekly Show Hosted by Iconic Bluesman B.B. King

2009-02-19T15:00:00.000+02:00

"You and Me with B.B. King" will launch February 20, 2009 on B.B. King's Bluesville channel

NEW YORK, Feb. 19 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) today announced the launch of You and Me with B.B. King, a new hour-long music show to be hosted each week by 2009 Grammy Award(R)-winning bluesman, B.B. King. You and Me with B.B. King will air each week exclusively on SIRIUS XM's B.B. King's Bluesville channel on SIRIUS and XM channels 74. The show will debut, with a new episode each week, on Friday, February 20 at 6 pm ET with encore broadcasts airing on Saturday, February 21 at 2 pm ET; Monday, February 23 at 12 am ET; and Wednesday, February 25 at 12 pm ET.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

"I'll be coming to B.B. King's Bluesville channel every week to tell you stories and answer your questions," said B.B. King. "I'm the mayor of Bluesville and my official proclamation: you're welcome anytime!"

"We're thrilled to give our listeners one of the few places where iconic artists like B.B. King and the blues can still be heard on the radio," said Scott Greenstein, SIRIUS XM Radio's President and Chief Content Officer. "This highlights SIRIUS XM Radio's ongoing commitment to bring unique music experiences to our subscribers with their favorite artists."

Each week, B.B. King will personally select a broad range of blues music featuring his favorite songs by peers from the past and today's artists. The blues legend will also share personal anecdotes and stories about the artists who inspire him as well as offer commentary on music that has made him a musical inspiration for generations of musicians. SIRIUS XM listeners will also hear from special guests including Johnny Winter, Buddy Guy, Albert Cummings and Keb' Mo who have worked with and have been influenced by King. King will also answer email questions from fans in a weekly "B.B. King's Mailbag" feature.

B.B. King, along with legendary recording artists and musicians including Jimmy Buffett, Bob Dylan, Eminem, Grateful Dead, David Johansen, Wynton Marsalis, Willie Nelson, Mojo Nixon, Elvis Presley, Tom Petty, Marky Ramone, Lou Reed, Frank Sinatra, Bruce Springsteen and "Little Steven" Van Zandt represent the diverse and creative artist-driven music programming currently being broadcast by SIRIUS XM.

You and Me with B.B. King will air each week on Friday at 6 pm, with encore presentations broadcast on Saturday at 2 pm ET, Monday at 12 am ET and Wednesday at 12 pm ET.

B.B. King's Bluesville channel broadcasts more than 80 years of music for all lovers of the blues. Listeners will hear favorite artists from the roots of blues music to the best of today, including Stevie Ray Vaughan, Muddy Waters, Buddy Guy, Eric Clapton, Etta James, Robert Cray, Keb' Mo', Taj Mahal, John Lee Hooker. Please visit www.sirius.com or www.xmradio.com for more information.

Since B.B. King started recording in the 1940s, he has defined the blues for a worldwide audience. King has released over 50 albums and has won 15 Grammy Awards(R), including his 2009 win for "Best Traditional Blues Album" for One Kind Favor. King has also been inducted into the Blues Foundation Hall of Fame and the Rock & Roll Hall of Fame. Additionally, he has received the Presidential Medal of Freedom, the National Medal of the Arts, the Kennedy Center Honors, the Grammy Lifetime Achievement Award(R) and the NARM (National Association of Recording Merchandisers) Chairman's Award, among many other awards. In a special ceremony at the Library of Congress, Librarian of Congress, James H. Billington presented King with a "Living Legend" medal in honor of his achievements as a musician and ambassador for the blues. After 10,000 concerts, B.B. King continues to bring his music to audiences around the globe spending the better part of each year on the road with his beloved guitar, "Lucille."

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 18.9 million subscribers.

P-SIRI

    Contacts for SIRIUS XM Radio:

    Sal Resendez
    SIRIUS XM Radio
    sresendez@siriusradio.com
    646 313 2405

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SpongeTech(R) Delivery Systems, Inc. CEO Interviewed Live on Steve Crowley's American Scene Radio Show

2009-02-19T14:15:00.000+02:00

SpongeTech(R)'s CEO Interview Aired Today on American Scene Radio Show

NEW YORK, Feb. 19 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc., America's Cleaning Company(TM) (OTC Bulletin Board: SPNG), is pleased to announce that its CEO and President, Michael Metter, will be interviewed live today on Steve Crowley's American Scene Radio Show at 9:24 a.m. EST. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, www.businesstalkradio.net. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.

For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetech.com.

About SpongeTech(R) Delivery Systems, Inc.

SpongeTech(R) Delivery Systems is a company which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s Proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.

"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended May 31, 2008, the Company's Quarterly Report on Form 10-QSB for the first quarter ended August 31, 2008. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

    Contact:
    SpongeTech(R) Delivery Systems, Inc.
    Investor Relations:
    Bill Young, 1-877-776-6438
    wayoung55@aol.com or info@spongetech.com

[Via http://www.prnewswire.com]

Scripps Reports Fourth-Quarter Results

2009-02-19T12:30:00.000+02:00

CINCINNATI, Feb. 19 /PRNewswire-FirstCall/ -- The E.W. Scripps Company (NYSE: SSP) today reported fourth-quarter operating results for its television, newspaper, and licensing and syndication businesses. The operations that formerly comprised the company's Scripps Networks and interactive media divisions, which were spun off into a separate publicly traded company on July 1, 2008, are reported in previous periods as discontinued operations.

The quarterly results reflect continued weakness in advertising sales at the company's newspapers and television stations. The company's revenue decreased 6.2 percent to $265 million, compared with $282 million in the fourth quarter of 2007.

The company reported a loss from continuing operations before income taxes and minority interests of $19.4 million, compared with income before income taxes and minority interests of $44.7 million in the fourth quarter of 2007.

The company still is in the process of finalizing the allocation of its provision for income taxes for 2008 and 2007 between its continuing and discontinued operations. The final allocated amounts will be included in the company's 2008 Form 10K, which is expected to be filed by March 2.

During the fourth quarter, pre-tax income from continuing operations was reduced by the following items:

-- severance costs in the newspaper division totaling $5.0 million,

-- costs related to the separation of the Scripps Networks and interactive media divisions totaling $1.9 million,

-- the write-down of certain long-lived assets in the television division totaling $31.0 million, and

-- the write-down of the company's investment in its Colorado newspaper partnership totaling $10.9 million.

"It became apparent toward the end of the year there's nowhere to hide from the national economic crisis. Despite our geographic diversity and multiple sources of advertising revenue, we're feeling the pain as the recession rolls its way through our local markets and media businesses," said Rich Boehne, president and CEO of Scripps. "Our primary short-term goal is to protect the company's financial health and flexibility, but at the same time we continue to reposition our local brands to take advantage of the long-term opportunities presented by this season of rapid evolution for media."

Fourth-quarter results by segment are as follows:

Television

Revenue from the company's television stations was $93.4 million in the fourth quarter, an increase of 2.1 percent over the fourth quarter of 2007.

    Revenue broken down by category was:
    -- Local, down 26.9 percent to $41.5 million
    -- National, down 26.9 percent to $20.8 million
    -- Political, $26.0 million compared with $1.3 million in the 2007 quarter

After a slow start for political advertising due to national party rules that prohibited Democratic candidates from advertising in Michigan and Florida, the full-year total for political advertising was $41 million, in line with the $42 million reported in the previous presidential election year of 2004.

Cash expenses for the station group were $62.3 million, an increase of 2.5 percent from $60.8 million in the 2007 quarter, despite a 15 percent increase in programming costs.

Segment profit for the television division was $31.1 million in the fourth quarter, a 1.3 percent increase over the fourth quarter of 2007.

Newspapers

Year-over-year revenue from newspapers managed solely by Scripps fell 16.5 percent to $137.5 million. Advertising revenue was down 19.8 percent to $104.8 million.

    Advertising revenue broken down by category was:
    -- Local, down 15.1 percent to $32.1 million
    -- Classified, down 31.2 percent to $27.7 million
    -- National, down 18.0 percent to $7.5 million
    -- Preprint and other, down 13.8 percent to $29.5 million
    -- Online, down 13.1 percent to $8.0 million

The decline in online ad revenue is attributable to the weakness in print classified advertising, to which most of the online advertising is tied. Revenue from pure-play advertisers who only purchase ads on the company's newspaper Web sites more than doubled to $3.7 million.

Circulation revenue was $28.3 million, down 3.9 percent.

Due to significantly lower usage, newsprint and ink expense declined slightly to $16.7 million, despite an increase in newsprint pricing of about 41 percent over the prior-year period.

Cash expenses for Scripps newspapers, including severance costs of $5.0 million, were down 2.1 percent from the prior year.

Segment profit at newspapers managed solely by the company was $12.9 million, compared with $37.3 million in the fourth quarter of 2007.

JOA and Newspaper Partnerships

Scripps reported $51,000 in equity in earnings of JOAs, compared to $11.0 million in the fourth quarter of 2007. The dramatic decrease is attributable to the cessation of cash distributions from the Denver Newspaper Agency in the second half of 2008, as well as the change in the reporting of earnings from the Albuquerque partnership. As a result of the closure of The Albuquerque Tribune and termination of the Albuquerque JOA in early 2008, the company's residual interest in the Albuquerque partnership is now treated as a passive investment. For reporting purposes, earnings from the partnership have been removed from the "JOA and newspaper partnerships" segment in 2008 and now are reflected in the "investment in newspaper partnership" line in the attached financial tables.

Consequently, the results of the JOAs and newspaper partnerships decreased segment profit by $8.4 million in the quarter, compared with a contribution to segment profit of $3.5 million in the fourth quarter of 2007.

Licensing and Other Media

Revenue was $30.9 million, a 20 percent increase compared with $25.7 million in the prior-year period, and segment profit increased more than 36 percent to $4.3 million from $3.2 million in the 2007 quarter. The increase was largely attributable to the ABC television network airing 13 Peanuts specials in the fourth quarter of 2008 vs. eight airings in the 2007 quarter.

Full Year

For the full year, consolidated revenues from continuing operations decreased 7.2 percent to $1.00 billion from $1.08 billion in 2007.

Revenues at newspapers managed solely by Scripps decreased 13.6 percent to $568.7 million, and segment profit was $71.5 million, compared with prior-year segment profit of $135.9 million.

Television revenue was essentially flat at $326.9 million, and segment profit decreased 3.9 percent to $80.6 million.

Revenue from licensing and other media rose 9.5 percent to $102.5 million, and segment profit increased 16.2 percent to $10.4 million.

Non-operating items

Due to sharp declines in the equities markets in the fourth quarter, the value of the company's pension plan assets was approximately $145 million less than the value of the company's accumulated benefit obligations at the end of the year. The company's pension expense in 2008 was $15 million, but it is expected to climb to $41 million in 2009. The company is only required to fund approximately $5 million into its pension plans in 2009 due to excess contributions in prior years, but in 2010 the company's pension contribution is expected to be approximately $46 million.

Bank debt as of Dec. 31 was approximately $61 million.

Capital expenditures for 2009 are expected to total approximately $52 million.

Denver

For the full year, newsroom expenses for the Rocky Mountain News incurred by Scripps were approximately $16 million higher than equity in earnings from the Denver Newspaper Agency, excluding a one-time gain from the sale of real estate in the first quarter.

The company announced in December its intention to sell the Rocky Mountain News and expects to announce its plans for the future of the newspaper before the end of the first quarter.

Expense-control initiatives

To reduce expenses and protect the health of the company during this period of unprecedented pressure on the company's ad revenue sources, Scripps yesterday announced to employees a list of cost-saving measures. The initiatives include pay reductions of 3 to 5 percent for most employees at newspapers and the corporate office. These cuts are in addition to salary cuts of between 5 and 15 percent that affected corporate executives, TV station general managers and newspaper publishers effective January 1, 2009. The company also will suspend its match of most employees' contributions to 401(k) retirement savings plans, and drastically reduce bonuses across the company for 2009. Other changes were implemented as well, differing by location, division and, where applicable, collective bargaining agreements. It is expected that these measures will reduce the company's expenses in 2009 by approximately $20 million.

Employees also were told that the company will freeze its pension plan later this year, but specific details of the change - and what the company will do to help transition employees who are close to retirement - are not yet available.

Outlook

Fast-changing economic conditions, which weigh heavily on the decisions of advertisers, complicate the forecasting of first-quarter performance. Revenue and expense trends of the fourth quarter of 2008 have continued into the first quarter of 2009.

Conference call

The senior management of The E.W. Scripps Company will discuss the company's fourth-quarter results during a telephone conference call at 9 a.m. EST today. Scripps will offer a live audio webcast of the conference call. To access the webcast, visit http://www.scripps.com, choose "Shareholders" then follow the link in the "Upcoming Events" section.

To access the conference call by telephone, dial 1-800-230-1074 (U.S.) or 1-612-332-0107 (International), approximately 10 minutes before the start of the call. Callers will need the name of the call ("fourth-quarter earnings report") to be granted access. Callers also will be asked to provide their name and company affiliation. The media and general public are provided access to the conference call on a listen-only basis.

A replay line will be open from 11 a.m. ESTFeb. 19 until 11:59 p.m. ESTFeb. 26. The domestic number to access the replay is 1-800-475-6701 and the international number is 1-320-365-3844. The access code for both numbers is 985059.

A replay of the conference call will be archived and available online for an extended period of time following the call. To access the audio replay, visit http://www.scripps.com approximately four hours after the call, choose "Shareholders" then follow the "audio archives" link on the left navigation bar.

Forward-looking statements

This press release contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. The company's written policy on forward-looking statements can be found on page F-5 of its 2007 SEC Form 10K. We undertake no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date the statement is made.

About Scripps

The E.W. Scripps Company is a diverse, 130-year-old media enterprise with interests in television stations, newspapers, local news and information Web sites, and licensing and syndication. The company's portfolio of locally focused media properties includes: 10 TV stations (six ABC affiliates, three NBC affiliates and one independent); daily and community newspapers in 15 markets and the Washington, D.C.-based Scripps Media Center, home of the Scripps Howard News Service; and United Media, the licensor and syndicator of Peanuts, Dilbert and approximately 150 other features and comics. For a full listing of Scripps media companies and their associated Web sites, visit http://www.scripps.com/.



    THE E.W. SCRIPPS COMPANY
    RESULTS OF OPERATIONS

    (in thousands, except per share data)

                           Three months ended              Years ended
                              December 31,                 December 31,
                         2008      2007   Change      2008     2007    Change

    Operating revenues $264,926  $282,308 (6.2)% $1,001,792 $1,079,546  (7.2)%
    Costs and expenses,
     excluding
     separation costs  (231,947) (232,434)(0.2)%   (906,757)  (939,237) (3.5)%
    Separation costs     (1,877)                    (33,506)      (257)
    Depreciation and
     amortization of
     intangibles        (12,402)  (11,406) 8.7 %    (46,972)   (44,705)  5.1 %
    Impairment of
     goodwill,
     indefinite and
     long-lived assets  (31,036)                   (809,936)
    Gains on disposal
     of property, plant
     and equipment        3,565       280             5,809         24

    Operating income
     (loss)              (8,771)   38,748          (789,570)    95,371
    Interest expense               (7,998)          (10,941)   (37,121)(70.5)%
    Equity in earnings
     of JOAs and other
     joint ventures         920    10,983            13,795     27,688 (50.2)%
    Write-down of
     investments in
     newspaper
     partnerships       (10,876)                   (130,784)
    Loss on
     repurchases of
     debt                                           (26,380)
    Miscellaneous,
     net                   (642)    2,953             6,888     17,148 (59.8)%

    Income (loss) from
     continuing
     operations before
     income taxes and
     minority
     interests         $(19,369)  $44,686         $(936,992)  $103,086

    See notes to results of operations.



    Notes to Results of Operations

    1. OTHER CHARGES AND CREDITS

Loss from continuing operations before income tax and minority interest was affected by the following:

2008 - As a result of the spin-off of Scripps Networks Interactive ("SNI"), employees holding share-based equity awards, received modified awards in E.W. Scripps and SNI's stock. Under SFAS 123R the adjustment to the outstanding share-based equity awards is a modification of the awards and incremental compensation is recognized to the extent the fair value of the awards immediately prior to the modification is less than the fair value of the modified awards. Compensation associated with the modification totaled $19.6 million and is included in separation costs in our 2008 results of operations from continuing operations before income tax and minority interest.

Due primarily to the continuing negative effects of the economy on our advertising revenues and those of other publishing companies, and the difference between our stock price following the spin-off of SNI to shareholders and the per share carrying value of our remaining net assets, we determined that indications of impairment of goodwill related to our newspaper business segments existed as of June 30, 2008. In the second quarter we recorded a $779 million, non-cash charge to reduce the carrying value of goodwill. In 2008, we also recorded a non-cash charge of $131 million to reduce the carrying value of our investment in the Denver JOA and Colorado newspaper partnership to our share of the estimated fair value of their net assets.

In the fourth quarter we took a $31 million non cash charge to write-down to fair value certain tangible and intangible assets in our Television segment.

In the second quarter of 2008, we redeemed the remaining balances of our outstanding notes and recorded a $26.4 million loss on the extinguishment of debt.

Investment results, reported in the caption "Miscellaneous, net" in our 2008 results of operations from continuing operations before income tax and minority interest, include realized gains of $6.8 million from the sale of certain investments in the second quarter of 2008.

2007 - A majority of our newspapers offered voluntary separation plans to eligible employees during 2007. In connection with the acceptance of the offer by 137 employees, we accrued severance related costs of $8.9 million in the second quarter of 2007.

2. SEGMENT INFORMATION

We determine our business segments based upon our management and internal reporting structure. Our reportable segments are strategic businesses that offer different products and services.

Our newspaper business segment includes daily and community newspapers in 15 markets in the U.S. Newspapers earn revenue primarily from the sale of advertising to local and national advertisers and from the sale of newspapers to readers.

JOAs and newspaper partnerships include a newspaper that is operated pursuant to the terms of joint operating agreement. The newspaper in the JOA maintains an independent editorial operation and receives a share of the operating profits of the combined newspaper operations. This segment also includes newspaper partnerships. We account for our share of the earnings of our JOA and newspaper partnerships using the equity method of accounting. Our equity in earnings of our JOA and newspaper partnerships is included in "Equity in earnings of JOAs and other joint ventures" in our results from operations. When we ceased the publication of our Albuquerque newspaper our investment became a passive investment and the equity earnings are no longer included in segment profit from 2008 forward.

Television includes six ABC-affiliated stations, three NBC-affiliated stations and one independent station. Our television stations reach approximately 10% of the nation's television households. Television stations earn revenue primarily from the sale of advertising to local and national advertisers.

Licensing and other media aggregates our operating segments that are too small to report separately, and primarily includes syndication and licensing of news features and comics.

In addition, certain corporate costs and expenses, including information technology, pensions and other employee benefits, and other shared services, are allocated to our business segments. The allocations are generally amounts agreed upon by management, which may differ from amounts that would be incurred if such services were purchased separately by the business segment. Corporate assets are primarily cash, cash equivalents and other short-term investments, property and equipment primarily used for corporate purposes, and deferred income taxes.

Our chief operating decision maker (as defined by SFAS 131 - Segment Reporting) evaluates the operating performance of our business segments and makes decisions about the allocation of resources to our business segments using a measure we call segment profit. Segment profit excludes interest, income taxes, depreciation and amortization, impairment charges, divested operating units, restructuring activities (including our proportionate share of JOA restructuring activities), investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in the United States of America.



    Information regarding our business segments is as follows:

    (in thousands)

                           Three months ended              Years ended
                              December 31,                 December 31,
                         2008     2007    Change     2008      2007    Change

    Segment operating
     revenues:
      Newspapers    $137,532  $164,632  (16.5)%   $568,667   $658,327  (13.6)%
      JOAs and
       newspaper
       partnerships                 49                 133        225  (40.9)%
      Television      93,402    91,516    2.1 %    326,860    325,841    0.3 %
      Licensing and
       other media    30,893    25,655   20.4 %    102,538     93,633    9.5 %
      Corporate        3,099       456               3,594      1,520

    Total operating
     revenues       $264,926  $282,308   (6.2)% $1,001,792 $1,079,546   (7.2)%

    Segment profit
     (loss):
      Newspapers     $12,850   $37,267  (65.5)%    $71,475   $135,870  (47.4)%
      JOAs and
       newspaper
       partnerships   (8,385)    3,539             (15,606)    (1,235)
      Television      31,148    30,743    1.3 %     80,589     83,860   (3.9)%
      Licensing and
       other media     4,349     3,185   36.5 %     10,437      8,982   16.2 %
      Corporate       (6,753)  (13,877) (51.3)%    (42,208)   (59,480) (29.0)%

    Depreciation and
     amortization of
     intangibles     (12,402)  (11,406)   8.7 %    (46,972)   (44,705)   5.1 %
    Impairment of
     goodwill,
     indefinite and
     long-lived
     assets          (31,036)                     (809,936)
    Investment in
     newspaper
     partnership         690                         4,143
    Gains on disposal
     of property,
     plant and
     equipment         3,565       280               5,809         24
    Interest expense            (7,998)            (10,941)   (37,121) (70.5)%
    Separation costs  (1,877)                      (33,506)      (257)
    Write-down of
     investment in
     newspaper
     partnerships    (10,876)                     (130,784)
    Loss on
     repurchases of
     debt
                                                   (26,380)
    Miscellaneous,
     net                (642)    2,953               6,888     17,148  (59.8)%

    Income (loss)
     from continuing
     operations before
     income taxes and
     minority
     interests      $(19,369)  $44,686           $(936,992)  $103,086

Certain items required to reconcile segment profitability to consolidated results of operations determined in accordance with accounting principles generally accepted in the United States of America are attributed to particular business segments. Significant reconciling items attributable to each business segment are as follows:

    (in thousands)

                                      Three months ended      Years ended
                                          December 31,        December 31,
                                        2008      2007      2008       2007

    Depreciation:
    Newspapers                         $5,578    $5,578    $21,905    $22,273
    JOAs and newspaper partnerships       321       330      1,290      1,320
    Television                          5,132     4,232     19,057     16,939
    Licensing and other media             309       119        787        475
    Corporate                             253       340        713        608

    Total depreciation                $11,593   $10,599    $43,752    $41,615

    Amortization of intangibles:
    Newspapers                           $525      $522     $2,088     $1,961
    Television                            284       285      1,132      1,129

    Total amortization of intangibles    $809      $807     $3,220     $3,090

    Gains (losses) on disposal of
     property, plant and equipment:
    Newspapers                           $(82)     $(65)      $(91)     $(145)
    JOAs and newspaper partnerships         1                  (32)        (1)
    Television                          3,687       378      6,088        225
    Corporate                             (41)      (33)      (156)       (55)

    Gains (losses) on disposal of
     property, plant and equipment     $3,565      $280     $5,809        $24



    The following is segment operating revenue for newspapers:

    (in thousands)
                           Three months ended             Years ended
                              December 31,                December 31,
                          2008     2007   Change     2008      2007    Change

    Segment operating
     revenues:
      Local             $32,099  $37,787  (15.1)%  $124,074  $142,431  (12.9)%
      Classified         27,738   40,332  (31.2)%   141,655   187,475  (24.4)%
      National            7,487    9,134  (18.0)%    28,086    34,927  (19.6)%
      Online              7,969    9,169  (13.1)%    36,768    40,085   (8.3)%
      Preprint and other 29,497   34,200  (13.8)%   106,908   116,647   (8.3)%

      Newspaper
       advertising      104,790  130,622  (19.8)%   437,491   521,565  (16.1)%
      Circulation        28,319   29,476   (3.9)%   113,398   118,696   (4.5)%
      Other               4,423    4,534   (2.4)%    17,778    18,066   (1.6)%
    Total operating
     revenues          $137,532 $164,632  (16.5)  %$568,667  $658,327  (13.6)%



    The following is segment operating revenue for television:

    (in thousands)

                           Three months ended             Years ended
                               December 31,               December 31,
                          2008     2007   Change     2008      2007   Change

    Segment operating
     revenues:
      Local             $41,546  $56,824  (26.9)%  $180,065  $204,791  (12.1)%
      National           20,759   28,407  (26.9)%    86,252   101,002  (14.6)%
      Political          26,044    1,337             41,012     2,735
      Network
       compensation       1,922    1,825    5.3 %     7,792     7,431    4.9 %
      Other               3,131    3,123    0.3 %    11,739     9,882   18.8 %

    Total operating
     revenues           $93,402  $91,516    2.1 %  $326,860  $325,841    0.3 %



    3. JOINT OPERATING AGREEMENT AND NEWSPAPER PARTNERSHIPS

    Financial information related to our JOA and newspaper partnerships is as
follows:

    (in thousands)

                              Three months ended            Years ended
                                  December 31,              December 31,
                             2008    2007    Change    2008    2007    Change

    Equity in earnings of
     JOAs and newspaper
     partnerships:
      Denver                        $9,200            $9,530  $19,426  (50.9)%
      Albuquerque                    2,390                      9,773
      Colorado                 51     (607)              122   (1,188)
      Other newspaper
       partnerships and
       joint ventures                                            (323)

    Total equity in
     earnings of JOAs          51   10,983             9,652   27,688  (65.1)%
    Operating revenues
     of JOAs and newspaper
     partnerships                       49               133      225  (40.9)%
    Total                      51   11,032             9,785   27,913  (64.9)%
    JOA editorial costs
     and expenses           8,436    7,493   12.6 %   25,391   29,148  (12.9)%
    Contribution to
     segment profit
     (loss)               $(8,385)  $3,539          $(15,606) $(1,235)

[Via http://www.prnewswire.com]

Yahoo HotJobs Senior Editor Tom Musbach to Appear on 'Corporate Strategies with Tim Connolly' February 20, 2009 at 10:00 a.m. ET

2009-02-18T21:32:00.000+02:00

HOUSTON, Feb. 18 /PRNewswire/ -- Yahoo HotJobs Senior Editor Tom Musbach will appear on "Corporate Strategies with Tim Connolly" on February 20, 2009 at 10:00 a.m. ET. Tom & Tim will discuss unique job hunting strategies, using tools such as Twitter, Viral Videos, and other social networks on the internet to find jobs in today's difficult economy. Listeners may call in with questions live and toll free at 800-336-2225.

Previous guests of the show have included CNBC "Mad Money" Host Jim Cramer, U.S. Senator and Presidential Candidate John McCain, former SEC Chairman Arthur Levitt, Enterprise Products CEO Dan Duncan, Celgene's CEO John Jackson, Landry's CEO Tilman Fertitta, Mario Gabelli, former Compaq CEO Eckard Pfeiffer, Money Manager Louis Navellier, and many others. Natural Nutrition, Inc. (OTCBB: NTNI) (www.naturalnutritioninc.com) and InterACTIVE Nutrition International, Inc. are the lead sponsors of the Corporate Strategies Radio Show, (www.corporate-strategies.net).

Corporate Strategies may be heard on over 400 affiliate stations nationwide listed at CRN1 www.cableradionetwork.com, or on the internet at www.corporate-strategies.net/radio. This hour of "Corporate Strategies with Tim Connolly" is hosted by Tim Connolly of Corporate Strategies Merchant Bankers (www.corporate-strategies.net). Noted Economist Mike King of Princeton Research provides live technical analysis for the show, and futures trader Oscar Carbone is a frequent commentator.

"Corporate Strategies with Tim Connolly" is live talk radio...with the Titans of Business who move financial markets! The show is hosted by Tim Connolly, CEO of Merchant Banker Corporate Strategies, Inc. The Executive Producer of the show is broadcast news veteran Jan Carson, an award winning journalist with more than 20 years experience as a top rated television news anchor and reporter for NBC, ABC and CBS network affiliates. "Corporate Strategies with Tim Connolly" features financial experts from across the nation providing the latest intelligence on equities, income investments, and a variety of risk, equity and option strategies.

CBS Corporation Reports Fourth Quarter and Full Year 2008 Results

2009-02-18T21:00:00.000+02:00

Fourth Quarter Revenues of $3.5 Billion; Full Year Revenues of $14.0 Billion

Fourth Quarter Adjusted OIBDA of $590.7 Million; Full Year Adjusted OIBDA of $2.8 Billion

Fourth Quarter Free Cash Flow of $308.3 Million; Full Year Free Cash Flow of $1.7 Billion

Interactive Segment OIBDA Up Seven-fold in Fourth Quarter

Company Announces Reduction of Quarterly Dividend to $.05 per Share

NEW YORK, Feb. 18 /PRNewswire-FirstCall/ -- CBS Corporation (NYSE: CBS.A and CBS) today reported results for the fourth quarter and full year ended December 31, 2008.

"We are clearly in the midst of one of the most difficult financial environments in history, with very little visibility on how long these economic conditions will continue or if there is worse to come," said Sumner Redstone, Executive Chairman, CBS Corporation. "But one thing that is clear to me is that Leslie and his team are managing our businesses superbly with an eye toward future growth. CBS's strength as a content provider will continue to position it for success."

"The marketplace was under increasing pressure throughout 2008, yet we were still able to deliver annual revenues of nearly $14 billion, adjusted operating profits of almost $2.8 billion and free cash flow of just under $1.7 billion - results that reflect the quality of our content and the enduring strength of our operations," said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. "As the contraction of the economy accelerated in the fourth quarter, our businesses were affected - in particular our local businesses - but we did not deviate from our ongoing strategy: to create winning content, regardless of the marketplace. At the same time, we continue to exercise a very disciplined approach to capital investment, and have taken substantial costs out of all of our businesses, in order to help margins going forward. We are confident that our considerable operational accomplishments will help position us to capitalize on growth opportunities as soon as the economy improves."

The Company also announced today that its Board of Directors authorized a reduction in the quarterly dividend from $.27 to $.05 per share. The dividend is payable on April 1, 2009 to stockholders of record as of March 11, 2009.

Regarding the dividend, Moonves said: "We have always been vigilant in maintaining our balance sheet in order to provide the strong financial flexibility that is more important than ever in these uncertain economic times. That's why we believe this is a prudent action to take while we await improvement in the economy and the credit markets. CBS continues to produce strong cash flow, and we have returned $5.5 billion of that cash to shareholders in just three years as a stand-alone company. However, by taking this step now, we will further strengthen our financial flexibility to meet our debt obligations even in difficult credit markets, and still provide our shareholders with an attractive dividend."

Fourth Quarter 2008 Results

Revenues were $3.53 billion for the fourth quarter of 2008 compared to $3.76 billion for the same prior-year period due to lower advertising revenues in a weak economic environment, partially offset by the acquisition of CNET Networks ("CNET") and higher affiliate revenues.

Adjusted results for the fourth quarter and full year exclude impairment and restructuring charges, stock-based compensation expense, and the impact of the acquisition of CNET and divestitures. Reconciliations of all non-GAAP measures to reported results are included on pages 15-21.

On an adjusted basis, operating income before depreciation and amortization ("OIBDA") for the fourth quarter of 2008 was $590.7 million versus $849.8 million for the same quarter last year and adjusted operating income was $458.1 million versus $730.6 million for last year's fourth quarter. These decreases reflected the decline in advertising revenues partially offset by lower entertainment programming costs and lower expenses resulting from cost-saving initiatives.

Adjusted net earnings from continuing operations were $226.7 million, or $.34 per diluted share, for the fourth quarter of 2008 versus $382.5 million, or $.56 per diluted share, for the same quarter last year, principally reflecting lower adjusted operating income.

Reported OIBDA for the fourth quarter of 2008 was $448.9 million versus $824.0 million for the same quarter last year and operating income was $298.2 million for the fourth quarter of 2008 versus $704.8 million for the same quarter last year. Stock-based compensation expense for the fourth quarter of 2008 was $27.4 million versus $25.8 million for the same quarter last year. Reported net earnings from continuing operations for the fourth quarter of 2008 were $136.1 million, or $.20 per diluted share, versus $273.1 million, or $.40 per diluted share, for the fourth quarter of 2007.

Free cash flow for the fourth quarter of 2008 increased to $308.3 million from $122.4 million for the same quarter last year primarily reflecting lower cash taxes and capital expenditures. The Company's free cash flow for the fourth quarters of 2008 and 2007 was reduced by discretionary contributions of $120.0 million and $150.0 million, respectively, to pre-fund its qualified pension plans.

Full Year 2008 Results

Revenues were $13.95 billion for the full year 2008 versus $14.07 billion for the prior year reflecting lower advertising revenues, including the absence of the 2007 telecast of Super Bowl XLI, and lower Publishing sales, partially offset by higher syndication revenues, driven largely by the new international self-distribution arrangement for the CSI franchise and the domestic cable syndication sale of CSI: New York, higher affiliate revenues and the acquisition of CNET.

Adjusted OIBDA was $2.78 billion for 2008 compared to $3.18 billion for 2007 and adjusted operating income was $2.28 billion for 2008 compared to $2.73 billion for 2007, with lower advertising sales and higher operating costs at Outdoor partially offset by higher profits from syndication sales and lower programming costs.

Adjusted net earnings from continuing operations for 2008 were $1.16 billion versus $1.43 billion for 2007 principally reflecting lower adjusted operating income in 2008. Adjusted diluted earnings per share were $1.73 for 2008 versus $1.98 for 2007 due to lower adjusted operating income partially offset by lower shares outstanding resulting from 2007 share repurchases.

During 2008, the Company recorded pre-tax non-cash impairment charges totaling $14.18 billion, resulting in a reported OIBDA loss of $11.63 billion and an operating loss of $12.16 billion for 2008, versus OIBDA of $3.08 billion and operating income of $2.62 billion for the prior year. Stock-based compensation expense was $137.9 million for 2008 versus $106.6 million for 2007. Reported net earnings from continuing operations were a loss of $11.67 billion, or $17.43 per diluted share, for 2008 versus net earnings of $1.23 billion, or $1.70 per diluted share, for 2007.

Free cash flow was $1.67 billion for 2008 versus $1.71 billion for 2007.

Consolidated and Segment Results

The tables below present the Company's revenues, OIBDA and operating income, before impairment charges, by segment for the three and twelve months ended December 31, 2008 and 2007 (dollars in millions). Reconciliations of all non-GAAP measures to reported results are included on pages 15-21.

                   Three Months Ended            Twelve Months Ended
                       December 31,   Better/       December 31,      Better/
    Revenues         2008      2007  (Worse)%      2008       2007   (Worse)%

    Television   $2,209.6  $2,401.9     (8)%   $8,991.1   $9,108.0      (1)%
    Radio           366.7     447.1    (18)     1,539.1    1,753.7     (12)
    Outdoor         526.3     618.6    (15)     2,170.6    2,187.3      (1)
    Interactive     186.3      58.6    218        421.7      166.1     154
    Publishing      245.1     242.3      1        857.7      886.1      (3)
    Eliminations     (7.1)     (9.7)    27        (29.8)     (28.3)     (5)
     Total
      Revenues   $3,526.9  $3,758.8     (6)%  $13,950.4  $14,072.9      (1)%


                   Three Months Ended           Twelve Months Ended
                      December 31,   Better/        December 31,      Better/
    OIBDA             2008    2007  (Worse)%       2008      2007    (Worse)%

    Television       $322.3  $494.7    (35)%     $1,695.9  $1,936.5     (12)%
    Radio              79.1   167.4    (53)         499.4     688.7     (27)
    Outdoor            98.4   198.9    (51)         467.4     620.9     (25)
    Interactive        51.7     6.9    n/m           39.7     (10.3)    n/m
    Publishing         28.3    29.5     (4)          88.2      97.2      (9)
    Corporate         (50.7)  (49.3)    (3)        (157.1)   (159.0)      1
    Residual costs    (16.0)  (24.1)    34          (79.2)    (96.5)     18
     OIBDA Before
      Impairment
      Charges         513.1   824.0    (38)       2,554.3   3,077.5     (17)
     Impairment
      Charges         (64.2)      -    n/m      (14,181.4)        -     n/m
     Total OIBDA     $448.9  $824.0    (46)%   $(11,627.1) $3,077.5     n/m


     Adjusted OIBDA* $590.7  $849.8    (30)%     $2,777.2  $3,184.1     (13)%


                  Three Months Ended             Twelve Months Ended
    Operating        December 31,    Better/        December 31,      Better/
     Income (Loss)   2008    2007    (Worse)%      2008      2007    (Worse)%

    Television     $272.2  $450.5     (40)%    $1,512.5  $1,760.7       (14)%
    Radio            70.5   159.6     (56)        466.8     657.8       (29)
    Outdoor          35.2   142.8     (75)        223.5     404.9       (45)
    Interactive      28.7     1.4     n/m          (9.3)    (21.7)       57
    Publishing       26.1    27.0      (3)         78.7      88.1       (11)
    Corporate       (54.3)  (52.4)     (4)       (170.3)   (171.5)        1
    Residual costs  (16.0)  (24.1)     34         (79.2)    (96.5)       18
     Operating Income
      Before
      Impairment
      Charges       362.4   704.8     (49)      2,022.7   2,621.8       (23)
    Impairment
     Charges        (64.2)      -     n/m     (14,181.4)        -       n/m
     Total Operating
      Income
      (Loss)       $298.2  $704.8     (58)%  $(12,158.7) $2,621.8       n/m

     Adjusted
      Operating
      Income*      $458.1  $730.6     (37)%    $2,277.0  $2,728.4       (17)%


    *Adjusted OIBDA and Adjusted Operating Income exclude impairment and
    restructuring charges, stock-based compensation expense, and the impact
    of the acquisition of CNET.   See pages 15 and 16 for a reconciliation of
    adjusted results.
    n/m - not meaningful

Television (CBS Television Network, CBS Television Stations, CBS Paramount Network Television, CBS Television Distribution, Showtime Networks and CBS College Sports Network)

Fourth Quarter

Television revenues for the fourth quarter of 2008 decreased 8% to $2.21 billion from $2.40 billion for the same prior-year period primarily reflecting a decline in advertising revenues in a soft advertising marketplace partially offset by higher political advertising sales and higher affiliate revenues.

Television OIBDA and operating income for the fourth quarter of 2008, in each case before impairment charges, decreased 35% to $322.3 million and 40% to $272.2 million, respectively, due to lower advertising sales and restructuring charges of $25.4 million, partially offset by lower entertainment series costs and higher affiliate revenues.

Full Year

Television revenues for 2008 decreased 1% to $8.99 billion from $9.11 billion for 2007 primarily due to a 13% decline in advertising revenues, reflecting a soft advertising marketplace, the absence of the 2007 telecast of Super Bowl XLI and the impact of the Writers' Guild of America ("WGA") strike, partially offset by 41% higher television license fees and higher affiliate revenues.

Television OIBDA and operating income for 2008, in each case before impairment charges, decreased 12% to $1.70 billion and 14% to $1.51 billion, respectively, due to lower advertising sales and restructuring charges of $60.5 million. These decreases were partially offset by higher profits from syndication sales, principally from the CSI franchise, higher affiliate revenues and lower series costs reflecting the impact of the WGA strike, which was settled in February 2008. Television results included stock-based compensation expense of $63.3 million and $47.7 million for 2008 and 2007, respectively.

Radio (CBS Radio)

Fourth Quarter

Radio revenues for the fourth quarter of 2008 decreased 18% to $366.7 million from $447.1 million for the same prior-year period, reflecting weakness in the advertising market and the impact of radio station divestitures.

Radio OIBDA and operating income for the fourth quarter of 2008, in each case before impairment charges, decreased 53% to $79.1 million and 56% to $70.5 million, respectively. Lower advertising sales, restructuring charges of $43.7 million and the absence of profits from divested stations were partially offset by lower talent and employee-related expenses and decreased marketing and promotion costs resulting from restructuring and cost-saving initiatives.

Full Year

Radio revenues for 2008 decreased 12% to $1.54 billion from $1.75 billion for 2007, reflecting weakness in the advertising market and the impact of radio station divestitures.

Radio OIBDA and operating income for 2008, in each case before impairment charges, decreased 27% to $499.4 million and 29% to $466.8 million, respectively, due to lower advertising sales, restructuring charges of $53.9 million and the absence of profits from divested stations. These declines were partially offset by lower expenses resulting from restructuring and cost-saving initiatives. Radio results included stock-based compensation expense of $15.5 million and $15.9 million for 2008 and 2007, respectively.

Outdoor (CBS Outdoor)

Fourth Quarter

Outdoor revenues for the fourth quarter of 2008 decreased 15% to $526.3 million from $618.6 million for the same prior-year period due to a weak advertising market and the impact of foreign exchange rate changes as the U.S. dollar strengthened. Revenues in North America decreased 14% for the quarter primarily due to a revenue decline in the U.S. billboards businesses, and the impact of contract non-renewals and foreign exchange rate changes. Revenues for International decreased 16%, with the impact of foreign exchange rate changes partially offset by the acquisition of International Outdoor Advertising Group ("IOA"). In constant dollars, total Outdoor revenues decreased 8% from the fourth quarter of 2007.

Outdoor OIBDA and operating income for the fourth quarter of 2008 decreased 51% to $98.4 million and 75% to $35.2 million, respectively. North America OIBDA decreased 47% to $78.7 million and operating income decreased 68% to $32.2 million due to the revenue decline combined with higher transit and billboard lease costs. International OIBDA decreased 62% to $19.7 million and operating income decreased 93% to $3.0 million principally reflecting the revenue decline and increased transit costs. International operating income was also affected by higher depreciation expense.

Full Year

Outdoor revenues for 2008 decreased 1% to $2.17 billion from $2.19 billion for 2007, with a decline in North America partially offset by growth in International. Revenues for North America decreased 4% primarily due to a decline in the U.S. billboards businesses and the impact of contract non-renewals. Revenues for Outdoor International increased 4% principally due to the acquisition of IOA.

Outdoor OIBDA and operating income for 2008, in each case before impairment charges, decreased 25% to $467.4 million and 45% to $223.5 million, respectively. North America OIBDA decreased 22% to $403.7 million and operating income decreased 35% to $217.2 million due to the revenue decline, higher transit and billboard lease costs, the impact of contract non-renewals and restructuring charges of $5.4 million. International OIBDA decreased 38% to $63.7 million and operating income decreased 91% to $6.3 million principally reflecting increased transit costs, the impact of foreign exchange rate changes and restructuring charges of $7.8 million. International operating income was also impacted by higher depreciation expense. Outdoor results included stock-based compensation expense of $7.3 million and $5.3 million for 2008 and 2007, respectively.

Interactive (CBS Interactive)

Effective July 1, 2008, the Company created an Interactive segment which combined existing interactive businesses, previously reported in the Television segment, with those of CNET, which was acquired on June 30, 2008. CNET has been included in the Company's results from the date of acquisition.

Fourth Quarter

Interactive revenues for the fourth quarter of 2008 increased to $186.3 million from $58.6 million for the same quarter last year, reflecting the acquisition of CNET, higher mobile revenues and higher advertising sales. On a comparable basis, including CNET in prior year results, Interactive revenues increased 1% from the fourth quarter of 2007.

Interactive OIBDA of $51.7 million for the fourth quarter of 2008 increased from $6.9 million for the same prior-year period and operating income increased to $28.7 million from $1.4 million due to the acquisition of CNET and lower employee-related and marketing costs partially offset by restructuring charges of $2.6 million.

Full Year

Interactive revenues for 2008 increased to $421.7 million from $166.1 million for 2007, reflecting the acquisition of CNET. On a comparable basis, including CNET in prior year results, Interactive revenues increased 8% from 2007, reflecting an 8% increase in display advertising sales and growth in mobile revenues.

Interactive OIBDA increased to $39.7 million for 2008 from a loss of $10.3 million for 2007 due to the CNET acquisition partially offset by restructuring charges of $3.4 million. Interactive reported an operating loss of $9.3 million for 2008 versus an operating loss of $21.7 million for 2007. The 2008 operating loss was due to non-cash depreciation and amortization expense associated with higher fixed asset and intangible asset balances resulting from the acquisition of CNET. Interactive results included stock-based compensation expense of $4.2 million and $1.9 million for 2008 and 2007, respectively.

Publishing (Simon & Schuster)

Fourth Quarter

Publishing revenues for the fourth quarter of 2008 increased 1% to $245.1 million from $242.3 million for the same prior-year period. Top-selling titles in the fourth quarter of 2008 included YOU: Being Beautiful by Michael F. Roizen and Mehmet C. Oz, The Purpose of Christmas by Rick Warren and Just After Sunset by Stephen King.

Publishing OIBDA and operating income for the fourth quarter of 2008 decreased 4% to $28.3 million and 3% to $26.1 million, respectively, driven by restructuring charges of $4.2 million partially offset by the revenue increase.

Full Year

Publishing revenues for 2008 decreased 3% to $857.7 million from $886.1 million for 2007 principally reflecting lower book sales versus the prior year, which included the release of The Secret by Rhonda Byrne.

Publishing OIBDA and operating income for 2008 decreased 9% to $88.2 million and 11% to $78.7 million, respectively, driven by the revenue decline and restructuring charges of $4.2 million, partially offset by lower royalty and production costs and a decline in employee-related expenses. Publishing results included stock-based compensation expense of $4.2 million and $3.5 million for 2008 and 2007, respectively.

Corporate

Corporate expenses before depreciation expense increased 3% to $50.7 million for the fourth quarter of 2008 from $49.3 million for the same prior-year period and, for the year, decreased 1% to $157.1 million for 2008 from $159.0 million for 2007. Corporate expenses included stock-based compensation expense of $43.4 million and $32.3 million for the full year of 2008 and 2007, respectively.

Residual Costs

Residual costs primarily include pension and postretirement benefits costs for benefit plans retained by the Company for previously divested businesses. Residual costs decreased to $16.0 million for the fourth quarter of 2008 from $24.1 million for the same prior-year period and, for the year, decreased to $79.2 million for 2008 from $96.5 million for 2007.

Interest Expense

Interest expense of $138.8 million for the fourth quarter of 2008 decreased from $143.9 million for the same prior-year period and, for the year, decreased to $546.6 million for 2008 from $570.9 million for 2007, in both cases primarily due to lower interest rates.

Interest Income

Interest income of $3.0 million for the fourth quarter of 2008 decreased from $13.0 million for the same prior-year period and, for the year, decreased to $42.2 million for 2008 from $116.1 million for 2007, in both cases reflecting lower average cash balances and lower interest rates.

Gain on Early Extinguishment of Debt

Gain on early extinguishment of debt of $8.4 million for the fourth quarter and full year of 2008 reflected the pre-tax gain resulting from the repurchase of $191.8 million of the Company's 7.70% senior notes due 2010.

Other Items, Net

Other items, net, for all periods presented included the write-down of investments associated with other-than-temporary declines in the market value of the Company's investments, and pre-tax gains or losses on station divestitures. Other items, net, for the twelve months ended December 31, 2008 also included a pre-tax gain of $129.8 million on the sale of the Company's investment in the Sundance Channel.

Provision for Income Taxes

The Company's effective income tax rate for the fourth quarter was 17.1% for 2008 versus 38.7% for 2007 and, for the year, was 7.3% for 2008 versus 38.5% for 2007. The effective income tax rates for the fourth quarter and full year of 2008 were affected by the non-cash impairment charges. On an adjusted basis, excluding the impact of impairment and restructuring charges, stock-based compensation expense, and the impact of the acquisition of CNET and divestitures, the fourth quarter effective income tax rate was 30.2% for 2008 versus 35.4% for 2007 and, for the year, was 34.1% for 2008 versus 35.7% for 2007, primarily reflecting a lower foreign effective income tax rate in 2008.

Other Matters

On December 15, 2008, the Company announced that it entered into an agreement with Clear Channel Communications, Inc. to swap five of its mid-size market radio stations in Baltimore, Portland, Sacramento and Seattle, for two radio stations in Houston, a top 10 radio market. In addition, on December 22, 2008, the Company signed an agreement with Wilks Broadcasting to sell three of its radio stations in Denver for $19.5 million. During the fourth quarter of 2008, the Company recorded a pre-tax non-cash impairment charge of $62.0 million to reduce the carrying value of goodwill and intangible assets in connection with these radio sales.

About CBS Corporation

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW - a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.

Cautionary Statement Concerning Forward-looking StatementsThis news release contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not based on historical facts, but rather reflect the Company's current expectations concerning future results and events. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: advertising market conditions generally; changes in the public acceptance of the Company's programming; changes in technology and its effect on competition in the Company's markets; changes in the Federal Communications laws and regulations; the impact of piracy on the Company's products, the impact of the consolidation in the market for the Company's programming; other domestic and global economic, business, competitive and/or other regulatory factors affecting the Company's businesses generally; the impact of union activity, including possible strikes or work stoppages or the Company's inability to negotiate favorable terms for contract renewals; and other factors described in the Company's news releases and filings with the Securities and Exchange Commission including but not limited to the Company's most recent Form 10-K. The forward-looking statements included in this document are made only as of the date of this document, and under section 27A of the Securities Act and section 21E of the Exchange Act, we do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

    CBS CORPORATION AND SUBSIDIARIES
    CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
    (Unaudited; all amounts, except per share amounts, are in millions)

                               Three Months Ended     Twelve Months Ended
                                  December 31,            December 31,
                                2008        2007        2008        2007

     Revenues               $3,526.9    $3,758.8   $13,950.4   $14,072.9

     Operating income
      (loss)                   298.2       704.8   (12,158.7)    2,621.8

       Interest expense       (138.8)     (143.9)     (546.6)     (570.9)
       Interest income           3.0        13.0        42.2       116.1
       Gain on early
        extinguishment of
        debt                     8.4           -         8.4           -
       Other items, net         (3.8)      (28.5)       79.6       (34.0)
     Earnings (loss)
      before income taxes      167.0       545.4   (12,575.1)    2,133.0

       (Provision) benefit
        for income taxes       (28.6)     (211.1)      919.3      (821.5)
       Equity in loss of
        investee companies,
        net of tax              (2.3)      (61.2)      (17.6)      (80.7)
     Net earnings (loss)
      from continuing
      operations               136.1       273.1   (11,673.4)    1,230.8

     Net earnings from
      discontinued
      operations                   -        13.1           -        16.2
     Net earnings (loss)      $136.1      $286.2  $(11,673.4)   $1,247.0

     Basic net earnings
      (loss) per common
      share:
       Net earnings (loss)
        from continuing
        operations              $.20        $.41     $(17.43)      $1.72
       Net earnings from
        discontinued
        operations                $-        $.02          $-        $.02
       Net earnings (loss)      $.20        $.43     $(17.43)      $1.75

     Diluted net earnings
      (loss) per common
      share:
       Net earnings (loss)
        from continuing
        operations              $.20        $.40     $(17.43)      $1.70
       Net earnings from
        discontinued
        operations                $-        $.02          $-        $.02
       Net earnings (loss)      $.20        $.42     $(17.43)      $1.73

     Weighted average
      number of common
      shares outstanding:
       Basic                   670.9       671.7       669.8       713.8
       Diluted                 674.7       678.8       669.8       721.9

     Dividends per common
      share                     $.27        $.25       $1.06        $.94

    CBS CORPORATION AND SUBSIDIARIES
    CONSOLIDATED CONDENSED BALANCE SHEETS
    (Unaudited; Dollars in millions)

                                                        At December 31,
                                                     2008              2007
     Assets

     Cash and cash equivalents                     $419.5          $1,346.9
     Receivables, net                             2,749.9           2,678.0
     Programming and other inventory              1,027.3             971.9
     Prepaid expenses and other current assets      996.1           1,034.1
      Total current assets                        5,192.8           6,030.9

     Property and equipment                       4,899.5           4,683.4
      Less accumulated depreciation and
       amortization                               1,891.2           1,761.9
      Net property and equipment                  3,008.3           2,921.5

     Programming and other inventory              1,578.1           1,548.5
     Goodwill                                     8,647.8          18,452.0
     Intangible assets                            7,104.2          10,081.3
     Other assets                                 1,358.1           1,396.0

     Total Assets                               $26,889.3         $40,430.2

     Liabilities and Stockholders' Equity

     Accounts payable                              $462.8            $352.3
     Participants' share and royalties payable      962.3             612.5
     Program rights                                 840.1           1,009.7
     Current portion of long-term debt               21.3              19.1
     Accrued expenses and other current
      liabilities                                 2,514.4           2,411.0
      Total current liabilities                   4,800.9           4,404.6

     Long-term debt                               6,974.8           7,068.6
     Other liabilities                            6,516.3           7,484.6
     Stockholders' equity                         8,597.3          21,472.4

     Total Liabilities and Stockholders'
      Equity                                    $26,889.3         $40,430.2

    CBS CORPORATION AND SUBSIDIARIES
    CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
    (Unaudited; Dollars in millions)

                                                   Twelve Months Ended
                                                       December 31,
                                                   2008             2007

     Operating activities:
     Net earnings (loss)                     $(11,673.4)        $1,247.0
     Less: Net earnings from discontinued
      operations                                      -             16.2
     Net earnings (loss) from continuing
      operations                              (11,673.4)         1,230.8

     Adjustments to reconcile net earnings
      (loss) from continuing operations to
       net cash flow provided by operating
       activities:
     Depreciation and amortization                531.6            455.7
     Impairment charges                        14,181.4                -
     Deferred tax provision                    (1,221.7)           232.3
     Write-down of investments                     71.1             24.8
     Gain on early extinguishment of debt          (8.4)               -
     Net gain on dispositions                    (133.3)           (12.9)
     Stock-based compensation                     137.9            106.6
     Equity in loss of investee companies,
      net of tax and distributions                 23.4             88.4
     Change in assets and liabilities, net
      of effects of acquisitions                  237.9             54.7
     Net cash flow provided by operating
      activities from discontinued
      operations                                      -              4.8
     Net cash flow provided by operating
      activities                                2,146.5          2,185.2
     Investing activities:
     Acquisitions, net of cash acquired        (2,035.3)          (410.0)
     Capital expenditures                        (474.1)          (469.1)
     Investments in and advances to investee
      companies                                   (40.2)           (42.3)
     Proceeds from dispositions                   198.2            562.2
     Proceeds from sales of investments           212.7             49.0
     Net (payments to) receipts from Viacom
      Inc. related to the Separation               (7.7)           172.5
     Other, net                                    (7.7)             2.6
     Net cash flow used for investing
      activities                               (2,154.1)          (135.1)
     Financing activities:
     (Repayments to) borrowings from banks,
      net                                          (5.3)             1.7
     Payment of capital lease obligations         (17.2)           (16.8)
     Repayment of notes                          (183.2)          (660.0)
     Proceeds from issuance of notes                  -            678.0
     Purchase of Company common stock             (46.4)        (3,351.3)
     Dividends                                   (705.4)          (640.3)
     Proceeds from exercise of stock options       31.2            201.7
     Excess tax benefit from stock-based
      compensation                                  6.5              8.9
     Other, net                                       -               .3
     Net cash flow used for financing
      activities                                 (919.8)        (3,777.8)
     Net decrease in cash and cash
      equivalents                                (927.4)        (1,727.7)
     Cash and cash equivalents at beginning
      of period                                 1,346.9          3,074.6
     Cash and cash equivalents at end of
      period                                     $419.5         $1,346.9

    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (Unaudited; all amounts, except per share amounts, are in millions)

2008 and 2007 Adjusted Results

The following tables reconcile financial measures excluding impairment and restructuring charges, stock-based compensation expense, and the impact of the acquisition of CNET and divestitures, to the reported measures included in this earnings release. The Company believes that adjusting its financial results for the impact of these items is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by the Company's management, provides a clearer perspective on the current underlying performance of the Company and makes it easier to compare the Company's year-over-year results.

                              Three Months Ended December 31, 2008

                                  Restruc- Stock- CNET/             Variance
                       Impairment turing   Based  Divest-              vs.
                2008     Charges  Charges Compen- itures    2008      2007
              Reported     (a)     (b)    sation   (c)    Adjusted  Adjusted

    Revenues  $3,526.9      $-      $-      $-  $(117.7)  $3,409.2     (9)%
    OIBDA        448.9    64.2    83.3    27.4    (33.1)     590.7    (30)%
    Operating
     income      298.2    64.2    83.3    27.4    (15.0)     458.1    (37)%
    Interest
     expense    (138.8)      -       -       -         -    (138.8)
    Interest
     income        3.0       -       -       -         -       3.0
    Gain on
     early
     extinguishment
     of debt       8.4       -       -       -      (8.4)        -
    Other items,
     net          (3.8)   14.7       -       -      (5.1)      5.8
    Earnings
     before
     income
     taxes       167.0    78.9    83.3    27.4     (28.5)    328.1
    Provision
     for
     income
     taxes       (28.6)  (37.0)  (33.6)  (11.5)     11.6     (99.1)
    Effective
     income
     tax rate     17.1%                                       30.2%

    Equity in loss
     of investee
     companies,
     net of tax   (2.3)      -       -       -         -      (2.3)
    Net earnings
     from
     continuing
     operations $136.1   $41.9   $49.7   $15.9   $(16.9)    $226.7    (41)%
    Diluted EPS   $.20    $.06    $.07    $.02    $(.03)      $.34    (39)%
    Weighted
     average
     number
     of common
     shares
     outstanding 674.7                                       674.7


                                 Three Months Ended December 31, 2007

                                Impairment   Station       Stock-
                          2007   Charges   Divestitures    Based       2007
                        Reported   (a)         (d)      Compensation  Adjusted


    Revenues            $3,758.8     $-        $-            $-      $3,758.8
    OIBDA                  824.0      -         -          25.8         849.8
    Operating income       704.8      -         -          25.8         730.6
    Interest expense      (143.9)     -         -             -        (143.9)
    Interest income         13.0      -         -             -          13.0
    Other items, net       (28.5)  24.8       2.6             -          (1.1)
    Earnings before income
     taxes                 545.4   24.8       2.6          25.8         598.6
    Provision for income
     taxes                (211.1)  (9.8)     18.8         (10.1)       (212.2)
    Effective income
     tax rate               38.7%                                        35.4%

    Equity in loss of
     Investee companies,
     net of tax            (61.2)  57.3         -             -          (3.9)
    Net earnings from
     continuing
     operations           $273.1  $72.3     $21.4         $15.7        $382.5
    Diluted EPS             $.40   $.11      $.03          $.02          $.56
     Weighted average
     number of common
     shares outstanding    678.8                                        678.8


    (a) Reflects 2008 non-cash impairment charges at Radio ($62.0 million) and
        Television ($2.2 million) as well as other-than-temporary declines in
        the market value of investments in both 2008 and 2007.
    (b) Restructuring charges at Television ($25.4 million), Radio ($43.7
        million), Outdoor ($5.9 million), Interactive ($2.6 million),
        Publishing ($4.2 million) and Corporate ($1.5 million) primarily
        reflecting severance costs associated with headcount reductions.
    (c) Reflects the results of CNET for the three months ended December 31,
        2008 and the $14.7 million pre-tax gain ($.01 per share) from the
        early extinguishment of debt and divestitures.
    (d) Impact of the pre-tax loss and related tax provision of the
        divestitures of radio stations.

    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (continued)
    (Unaudited; all amounts, except per share amounts, are in millions)


                       Twelve Months Ended December 31, 2008

                                  Restruc- Stock-   CNET/            Variance
                       Impairment turing   Based    Divest-             vs.
                2008     Charges  Charges  Compen-  itures    2008     2007
              Reported     (a)      (b)    sation    (c)    Adjusted Adjusted

    Revenues  $13,950.4         $-      $-     $-  $(222.5) $13,727.9    (2)%
    OIBDA     (11,627.1)  14,181.4   136.7  137.9    (51.7)   2,777.2   (13)%
    Operating
     income
     (loss)   (12,158.7)  14,181.4   136.7  137.9    (20.3)   2,277.0   (17)%
    Interest
     expense     (546.6)         -       -      -        -     (546.6)
    Interest
     income        42.2          -       -      -        -       42.2
    Gain on
     early
     extinguishment
     of debt        8.4          -       -      -     (8.4)         -
    Other
     items,
     net           79.6       71.1       -      -   (131.7)      19.0
    Earnings
     (loss)
     before
     income
     taxes    (12,575.1)  14,252.5   136.7  137.9   (160.4)   1,791.6
    Benefit
     (provision)
     for income
     taxes        919.3   (1,482.5)  (54.7) (55.2)    62.3     (610.8)
    Effective
     income
     tax rate       7.3%                                         34.1%

    Equity in
     loss of
     investee
     companies,
     net of
     tax           (17.6)        -       -      -        -      (17.6)
    Net
     earnings
     (loss)
     from
     continuing
     opera-
     tions    $(11,673.4) $12,770.0  $82.0  $82.7   $(98.1)  $1,163.2   (19)%
    Diluted
     EPS         $(17.43)    $19.07   $.12   $.12    $(.15)     $1.73   (13)%
    Weighted
     average
     number
     of common
     shares
     outstanding   669.8                                        674.2


                              Twelve Months Ended December 31, 2007

                                Impairment   Station       Stock-
                          2007   Charges   Divestitures    Based       2007
                        Reported   (d)         (e)      Compensation  Adjusted

    Revenues           $14,072.9     $-        $-            $-     $14,072.9
    OIBDA                3,077.5      -         -         106.6       3,184.1
    Operating income     2,621.8      -         -         106.6       2,728.4
    Interest expense      (570.9)     -         -             -        (570.9)
    Interest income        116.1      -         -             -         116.1
    Other items, net       (34.0)  24.8     (10.0)            -         (19.2)
    Earnings before income
     taxes               2,133.0   24.8     (10.0)        106.6       2,254.4
    Provision for income
     taxes                (821.5)  (9.8)     68.5         (42.2)       (805.0)
    Effective income tax
     rate                   38.5%                                        35.7%

    Equity in loss of
     Investee companies,
     net of tax            (80.7)  62.9         -             -         (17.8)
    Net earnings from
     continuing
     operations         $1,230.8  $77.9     $58.5         $64.4      $1,431.6
    Diluted EPS            $1.70   $.11      $.08          $.09         $1.98
     Weighted average
      number of common
      shares outstanding   721.9                                        721.9

    (a) Represents non-cash impairment charges to reduce goodwill and other
        intangible assets at Television ($7.95 billion), Radio ($3.38 billion)
        and Outdoor ($2.86 billion) and to write-down the market value of
        investments ($71.1 million) due to other-than-temporary declines.
    (b) Restructuring charges at Television ($60.5 million), Radio ($53.9
        million), Outdoor ($13.2 million), Interactive ($3.4 million),
        Publishing ($4.2 million) and Corporate ($1.5 million) primarily
        reflecting severance costs associated with headcount reductions.
    (c) Reflects the results of CNET since its acquisition, the pre-tax gain
        of $129.8 million ($.12 per share) on the sale of investment in the
        Sundance Channel, and the $12.1 million pre-tax gain ($.01 per share)
        from the early extinguishment of debt and station divestitures.
    (d) Other-than-temporary declines in the market value of investments.
    (e) Pre-tax gain and related tax provision of the divestitures of
        television and radio stations.


    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (continued)
    (Unaudited; Dollars in millions)

Operating Income (Loss) Before Depreciation and Amortization

The following tables set forth the Company's Operating Income (Loss) Before Depreciation and Amortization ("OIBDA") for the three and twelve months ended December 31, 2008 and 2007. The Company defines OIBDA as net earnings (loss) adjusted to exclude the following line items presented in its Statements of Operations: Net earnings from discontinued operations; Equity in loss of investee companies, net of tax; (Provision) benefit for income taxes; Other items, net; Gain on early extinguishment of debt; Interest income; Interest expense; and Depreciation and amortization. The Company defines "OIBDA Before Impairment Charges" as OIBDA less impairment charges.

The Company presents OIBDA Before Impairment Charges on a segment basis as the primary measure of profit and loss for its operating segments in accordance with SFAS 131, "Disclosure about Segments of an Enterprise and Related Information."

The Company uses OIBDA, among other things, to evaluate the Company's operating performance, to value prospective acquisitions and as one of several components of incentive compensation targets for certain management personnel, and this measure is among the primary measures used by management for planning and forecasting of future periods. This measure is an important indicator of the Company's operational strength and performance of its business because it provides a link between profitability and operating cash flow. The Company believes the presentation of this measure is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by the Company's management, helps improve their ability to understand the Company's operating performance and makes it easier to compare the Company's results with other companies that have different financing and capital structures or tax rates. In addition, this measure is also among the primary measures used externally by the Company's investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry.

Since OIBDA is not a measure of performance calculated in accordance with generally accepted accounting principles ("GAAP"), it should not be considered in isolation of, or as a substitute for, net earnings (loss) as an indicator of operating performance. OIBDA, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure does not necessarily represent funds available for discretionary use, and is not necessarily a measure of the Company's ability to fund its cash needs. As OIBDA excludes certain financial information compared with net earnings (loss), the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions which are excluded. The Company provides the following reconciliations of total OIBDA to net earnings (loss) and OIBDA Before Impairment Charges for each segment to such segment's operating income (loss), the most directly comparable amounts reported under GAAP.

    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (continued) (Unaudited; Dollars in millions)


                              Three Months Ended December 31, 2008

                                           Operating
                 OIBDA                    Income (Loss)
                 Before     Depreciation    Before                 Operating
                Impairment       and      Impairment   Impairment   Income
                 Charges    Amortization    Charges     Charges     (Loss)

    Television    $322.3        $(50.1)       $272.2      $(2.2)    $270.0
    Radio           79.1          (8.6)         70.5      (62.0)       8.5
    Outdoor         98.4         (63.2)         35.2          -       35.2
    Interactive     51.7         (23.0)         28.7          -       28.7
    Publishing      28.3          (2.2)         26.1          -       26.1
    Corporate      (50.7)         (3.6)        (54.3)         -      (54.3)
    Residual
     costs         (16.0)            -         (16.0)         -      (16.0)
       Total      $513.1       $(150.7)       $362.4     $(64.2)    $298.2



                           Three Months Ended December 31, 2007

                                             Depreciation      Operating
                          OIBDA                   and         Income (Loss)
                                             Amortization
    Television            $494.7                $(44.2)         $450.5
    Radio                  167.4                  (7.8)          159.6
    Outdoor                198.9                 (56.1)          142.8
    Interactive              6.9                  (5.5)            1.4
    Publishing              29.5                  (2.5)           27.0
    Corporate              (49.3)                 (3.1)          (52.4)
    Residual costs         (24.1)                    -           (24.1)
       Total              $824.0               $(119.2)         $704.8



                                           Three Months Ended December 31,
                                                2008              2007
    OIBDA Before Impairment Charges           $513.1            $824.0
      Impairment Charges                       (64.2)                -
    Total OIBDA                                448.9             824.0
       Depreciation and amortization          (150.7)           (119.2)
    Operating income                           298.2             704.8
       Interest expense                       (138.8)           (143.9)
       Interest income                           3.0              13.0
       Gain on early extinguishment of
        debt                                     8.4                 -
       Other items, net                         (3.8)            (28.5)
    Earnings before income taxes               167.0             545.4
       Provision for income taxes              (28.6)           (211.1)
       Equity in loss of investee
        companies, net of tax                   (2.3)            (61.2)
    Net earnings from continuing
     operations                                136.1             273.1
    Net earnings from discontinued
     operations                                    -              13.1
    Net earnings                              $136.1            $286.2


    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (continued) (Unaudited; Dollars in millions)


                             Twelve Months Ended December 31, 2008

                                            Operating
                 OIBDA                     Income (Loss)
                 Before     Depreciation     Before                  Operating
                Impairment       and       Impairment   Impairment    Income
                 Charges    Amortization     Charges     Charges      (Loss)

    Television  $1,695.9       $(183.4)      $1,512.5   $(7,945.5)  $(6,433.0)
    Radio          499.4         (32.6)         466.8    (3,380.7)   (2,913.9)
    Outdoor        467.4        (243.9)         223.5    (2,855.2)   (2,631.7)
    Interactive     39.7         (49.0)          (9.3)          -        (9.3)
    Publishing      88.2          (9.5)          78.7           -        78.7
    Corporate     (157.1)        (13.2)        (170.3)          -      (170.3)
    Residual
     costs         (79.2)            -          (79.2)          -       (79.2)
       Total    $2,554.3       $(531.6)      $2,022.7  $(14,181.4) $(12,158.7)


                              Twelve Months Ended December 31, 2007

                                            Depreciation       Operating
                         OIBDA                   and          Income (Loss)
                                            Amortization
    Television          $1,936.5               $(175.8)        $1,760.7
    Radio                  688.7                 (30.9)           657.8
    Outdoor                620.9                (216.0)           404.9
    Interactive            (10.3)                (11.4)           (21.7)
    Publishing              97.2                  (9.1)            88.1
    Corporate             (159.0)                (12.5)          (171.5)
    Residual costs         (96.5)                    -            (96.5)
       Total            $3,077.5               $(455.7)        $2,621.8



                                          Twelve Months Ended December 31,
                                                 2008              2007
    OIBDA Before Impairment Charges          $2,554.3          $3,077.5
      Impairment Charges                    (14,181.4)                -
    Total OIBDA                             (11,627.1)          3,077.5
       Depreciation and amortization           (531.6)           (455.7)
    Operating income (loss)                 (12,158.7)          2,621.8
       Interest expense                        (546.6)           (570.9)
       Interest income                           42.2             116.1
       Gain on early extinguishment of
        debt                                      8.4                 -
       Other items, net                          79.6             (34.0)
    Earnings (loss) before income taxes     (12,575.1)          2,133.0
       Benefit (provision) for income
        taxes                                   919.3            (821.5)
       Equity in loss of investee
        companies, net of tax                   (17.6)            (80.7)
    Net earnings (loss) from
     continuing operations                  (11,673.4)          1,230.8
    Net earnings from discontinued
     operations                                     -              16.2
    Net earnings (loss)                    $(11,673.4)         $1,247.0


    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (continued)
    (Unaudited; Dollars in millions)

Free Cash Flow

Free cash flow reflects the Company's net cash flow from operating activities less capital expenditures and operating cash flow of discontinued operations. The Company uses free cash flow, among other measures, to evaluate its operating performance. Management believes free cash flow provides investors with an important perspective on the cash available to service debt, make strategic acquisitions and investments, maintain its capital assets, satisfy its tax obligations and fund ongoing operations and working capital needs. As a result, free cash flow is a significant measure of the Company's ability to generate long term value. It is useful for investors to know whether this ability is being enhanced or degraded as a result of the Company's operating performance. The Company believes the presentation of free cash flow is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by management. In addition, free cash flow is also a primary measure used externally by the Company's investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry.

As free cash flow is not a measure of performance calculated in accordance with GAAP, free cash flow should not be considered in isolation of, or as a substitute for, net earnings (loss) as an indicator of operating performance or net cash flow provided by operating activities as a measure of liquidity. Free cash flow, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, free cash flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of the Company's ability to fund its cash needs. As free cash flow deducts capital expenditures and operating cash flow of discontinued operations from net cash flow provided by operating activities, the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions which are not reflected. The Company provides below a reconciliation of free cash flow to net cash flow provided by operating activities, the most directly comparable amount reported under GAAP.

The following table presents a reconciliation of the Company's net cash flow provided by operating activities to free cash flow:

                                   Three Months Ended   Twelve Months Ended
                                       December 31,         December 31,
                                     2008        2007     2008        2007
     Net cash flow provided by
      operating activities         $432.8      $289.3 $2,146.5    $2,185.2
     Less capital expenditures      124.5       166.9    474.1       469.1
     Less operating cash flow of
      discontinued operations           -           -        -         4.8
     Free cash flow                $308.3      $122.4 $1,672.4    $1,711.3

The following table presents a summary of the Company's cash flows:

                                 Three Months Ended     Twelve Months Ended
                                     December 31,          December 31,
                                   2008        2007       2008        2007
     Net cash flow provided by
      operating activities       $432.8      $289.3   $2,146.5    $2,185.2
     Net cash flow used for
      investing activities      $(199.0)      $(2.9) $(2,154.1)    $(135.1)
      Net cash flow used for
       financing activities     $(367.4)    $(165.5)   $(919.8)  $(3,777.8)


    CBS CORPORATION AND SUBSIDIARIES
    SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
    (continued)
    (Unaudited; Dollars in millions)

Interactive Segment Comparable Revenues Reconciliation

The Company acquired CNET on June 30, 2008. The following table presents the revenues for the Interactive segment on a comparable basis, which includes the revenues of CNET for all periods presented. The Company believes that adjusting the revenues of the Interactive segment to include CNET prior to acquisition provides investors with a clearer perspective on the current underlying financial performance of the Interactive segment.

                              Three Months             Twelve Months
                                  Ended                   Ended
                               December 31,  Better/    December 31,   Better/
                               2008    2007  (Worse)%   2008    2007  (Worse)%
    Interactive revenues, as
     reported                $186.3   $58.6    218%    $421.7  $166.1    154%
    CNET revenues prior to
     June 30, 2008
     acquisition                  -   125.6    n/m      193.8   405.9    n/m
    Interactive revenues,
     comparable basis        $186.3  $184.2      1%    $615.5  $572.0      8%

    n/m - not meaningful

Statement From Eugene Cussons, Host and Star of Animal Planet's Escape To Chimp Eden, on the Connecticut Chimpanzee Attack of Monday, 16 Feb 2009

2009-02-18T19:21:00.000+02:00

SILVER SPRING, Md., Feb. 18 /PRNewswire/ -- Eugene Cussons, featured on the popular Animal Planet series Escape to Chimp Eden, is currently in Gabon, West Africa. Cussons issued this statement in response to the tragic chimpanzee attack in Stamford, Connecticut:

(Photo: http://www.newscom.com/cgi-bin/prnh/20090218/PH72503 )

"My deepest sympathies go to Charla Nash and Sandra Herold, particularly to Ms. Nash. They are actually living the nightmare that haunts all of us who work with chimpanzees. It is impossible to imagine the physical and mental anguish they must be suffering. It is also terribly sad to know that Travis the chimpanzee lost his life. This is a tragedy, for all involved.

"The question now is: can we take something positive from something so awful? Unfortunately, it often takes this kind of tragic event to raise awareness. My work has taught me that chimpanzees were never meant to be pets or entertainment attractions. They were never meant to be trained or to act like human beings. Even with the best intentions, a chimp raised out of its natural environment is likely to display adverse behavior at some point. In saying this, I am not criticizing any specific individual. I am criticizing our entire culture, which tends to see chimps as cute, comical mini-humans.

"It is my sincere hope the media will take this opportunity to spell out clearly, once and for all, a critically important fact: chimps are their own unique beings. They are not born to follow our rules. They are supremely wild animals. The only place for them, in the long term, is in the wild.

"Perhaps, the most surprising aspect of this story is that Travis never attacked anyone before. Nature builds male chimps to be big and aggressive - to dominate rivals and sometimes kill them. At around 15 years old and 200 pounds, Travis was a huge chimpanzee entering the prime of his life. If you look at an adult male chimp's canine teeth, they are as sharp and strong as a leopard's.

"In our experience at Escape to Chimp Eden, even a small irritation, like the sight of a vehicle in the distance, can set off a massive display of aggression from the male chimps. This aggression is entirely natural. It's how chimps are wired, almost from birth, to help them survive in the wild. What's unnatural is a wild animal living in a human home, with no access to other members of its own species and with no opportunity to live as nature intended. Only through education and increased awareness can tragedies like the one in Connecticut be avoided in the future."

OSCAR(R)-Nominated Composers Discuss the Music Behind the Movies on Morning Becomes Eclectic With Jason Bentley

2009-02-17T17:53:00.000+02:00

SANTA MONICA, Calif., Feb. 17 /PRNewswire/ -- KCRW Music Director Jason Bentley uncovered compelling stories behind the music for some of the year's most highly acclaimed films in conversations with top composers on Morning Becomes Eclectic. He hosted famed composers A.R. Rahman, Alexandre Desplat, Danny Elfman, Hans Zimmer, and James Newton Howard. Transcripts are available at KCRW.com/oscars and highlights are below:

Slumdog Millionaire composer A.R. Rahman discusses his approach to creating scores that are both perfect for film and listenable on their own.

Rahman on his collaboration with M.I.A and Director Danny Boyle: "Danny wanted me to collaborate with her...She is like a tank of ideas."
On Boyle: "What I liked was he captured the spirit of Mumbai, which is undying. It was great."

Composer Alexandre Desplatwent backwards and forwards to capture the magical story of life and love in The Curious Case of Benjamin Button.

On Director David Fincher: "David Fincher is a director who has a very precise point of view on every aspect of his art history and the music is one of them...he didn't want the score to be overdramatic, overwhelming to the audience."
On Benjamin Button's Theme: "This whole idea of time reversing was ticking in my head and I just suggested to David that I could maybe try and find a tune, a little pattern, a little hook that could be played forwards and backwards."

Milk Composer Danny Elfmantells Jason he considers the title character an American hero and jumped at the chance to work with Director Gus Van Sant again.

On Van Sant: "Getting into any project with Gus means I'm going to go in a lot of different directions and mess around with a lot of different ideas. With another director, that can be very frustrating. Trying to hone in on 'What do you want for this movie?' With Gus it's more of a process of fun experimentation."
On his creative process: "I don't do research going into a movie. I think the least I know the better. I like to forget that I've even read the script, even though I do read the script because the more prepared I am in the beginning, the more it sends me down a specific direction which may not be the right direction...So I started with a real blank slate other than -- don't mess this up. Except I didn't use the word mess, but we're live on the air."

Find full transcripts and other conversations with OSCAR(R) nominees appearing on other KCRW programs like The Treatment, Guest DJ Project and more here: http://www.kcrw.com

The 81st Academy Awards(R) ceremony airs on February 22.

Santa Monica-based KCRW is National Public Radio's flagship station for Southern California.

Eutelsat's HOT BIRD(TM) 9 Satellite Goes Live

2009-02-17T15:17:00.000+02:00

PARIS, February 17 /PRNewswire-FirstCall/ -- Eutelsat Communications (Euronext Paris: ETL) announces the full entry into commercial service of its HOT BIRD(TM) 9 satellite at 13 degrees East. Built by EADS Astrium and launched on 20 December 2008 by Arianespace, Eutelsat's new high-capacity broadcast satellite has a projected in-orbit life of more than 15 years.

The smooth transfer of television and radio channels onto HOT BIRD(TM) 9 was completed this morning at 4am GMT by Eutelsat's control centre, working in close collaboration with broadcast clients and providers of uplink services.

With the entry into service of HOT BIRD(TM) 9, copositioned with Eutelsat's HOT BIRD(TM) 6 and HOT BIRD(TM) 8 satellites, HOT BIRD(TM) 7A can now be redeployed to 9 degrees East. Rebranded EUROBIRD(TM) 9A, the satellite will assume all broadcasts currently carried by the 20 transponders on EUROBIRD(TM) 9 and introduce 18 additional transponders at the 9 degrees East neighbourhood, which has seen the number of channels more than double in one year to almost 150. Released from this position, EUROBIRD(TM) 9 will continue its useful life in orbit at another location.

HOT BIRD(TM) 9 has a payload of up to 64 Ku-band transponders and is the second in Eutelsat's new generation of HOT BIRD(TM) broadcast satellites, following HOT BIRD(TM) 8 which was launched in 2006. These high-capacity spacecraft have the dual mission of renewing Eutelsat's resource at its premium video neighbourhood at 13 degrees East and elevating in-orbit security to industry-leading levels. The HOT BIRD(TM) neighbourhood today broadcasts almost 1 100 television channels and 600 radio stations to an audience of more than 120 million homes in Europe, the Middle East and North Africa.

About Eutelsat Communications

Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the holding company of Eutelsat S.A.. With capacity commercialised on 26 satellites that provide coverage over the entire European continent, as well as the Middle East, Africa, India and significant parts of Asia and the Americas, Eutelsat is one of the world's three leading satellite operators in terms of revenues. At 31 December 2008, Eutelsat's satellites were broadcasting more than 3,200 television channels and 1,100 radio stations. Almost 1,100 channels broadcast via its HOT BIRD(TM) video neighbourhood at 13 degrees East which serves over 120 million cable and satellite homes in Europe, the Middle East and North Africa. The Group's satellites also serve a wide range of fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsat's broadband subsidiary, Skylogic, markets and operates services through its teleport in Italy that serves enterprises, local communities, government agencies and aid organisations in Europe, Africa, Asia and the Americas. Headquartered in Paris, Eutelsat and its subsidiaries employ 591 commercial, technical and operational experts from 27 countries.

   http://www.eutelsat.com

    For further information

    Press contacts
    Vanessa O'Connor
    Tel: +33-1-53-98-38-88
    voconnor@eutelsat.fr

    Frederique Gautier
    Tel: +33-1-53-98-38-88
    fgautier@eutelsat.fr

    Investor relations
    Gilles Janvier
    Tel: +33-1-53-98-35-35
    investors@eutelsat-communications.com

Harris Corporation Receives $18 Million Order From U.S. Air Force for Falcon III(R) AN/PRC-117G Multiband Manpack Radios

2009-02-17T14:00:00.000+02:00

ROCHESTER, N.Y., Feb. 17 /PRNewswire-FirstCall/ -- Harris Corporation (NYSE: HRS), an international communications and information technology company, has received an $18 million order from the U.S. Air Force Special Operations Command's Battlefield Air Operations office for the Harris Falcon III AN/PRC-117G wideband tactical radio system. The Air Force is acquiring the AN/PRC-117G to expand the use of high-bandwidth data applications.

The Falcon III AN/PRC-117G is the first JTRS-approved tactical radio to offer reliable and secure access to high-bandwidth applications -- such as streaming video, reconnaissance information, and biometrics -- in addition to narrowband legacy waveforms. The radio is certified by the Joint Interoperability Test Command (JITC) as compliant with Demand Assigned Multiple Access (DAMA) military standards and upgradeable to access the Mobile User Objective System (MUOS), both for transmitting high-bandwidth voice and data over tactical military satellites. The AN/PRC-117G includes a Remote Operated Video Enhanced Receiver (ROVER) interoperable mode that provides Air Force personnel on the battlefield with the ability to receive live video directly from unmanned aerial vehicles systems (UAVs). This capability allows a dismounted soldier to carry only one radio in situations where two radios were previously required. The AN/PRC-117G previously received Type-1 information security certification from the National Security Agency.

"The AN/PRC-117G will provide the Air Force with significantly advanced communications capabilities in a smaller package, which is increasingly important in today's mobile warfighting environment," said Dana Mehnert, president, Harris RF Communications. "This radio will allow Air Force personnel to better manage the battle by providing simultaneous voice, data and text capability. The radio is half the weight of the legacy radios currently fielded, significantly lightening the soldier's load, and offers a high degree of mobility, security, and survivability."

The AN/PRC-117G offers an extended frequency range of 30 MHz to 2 GHz. The radio currently runs the Harris Advanced Networking Wideband Waveform (ANW2) and is designed for future upgrade to the Soldier Radio Waveform (SRW). Both waveforms provide advanced networking capability to the battlefield. The radio delivers IP data to the tactical Internet at on-air rates of up to 5 Mbps.

Harris RF Communications is the leading global supplier of secure radio communications products and systems for military, government and commercial organizations. The company's Falcon(R) family of software-defined tactical radio products and systems include manpack, handheld, vehicular, strategic fixed-site and shipboard applications. Falcon III is the next-generation of radios developed to address the U.S. military's Joint Tactical Radio System (JTRS) requirements.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of $5.4 billion and 16,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.

SIRIUS XM Radio and Liberty Media Reach Agreement for Investment

2009-02-17T12:57:00.000+02:00

Liberty Makes Loan to SIRIUS XM to Repay 2 1/2% Convertible Notes due February 17, 2009

Agreement Provides for Additional Loan

Liberty to Acquire SIRIUS XM Preferred Stock and Board Representation in Connection with Investments

NEW YORK and ENGLEWOOD, Colo., Feb. 17 /PRNewswire-FirstCall/ -- SIRIUS XM Radio Inc. (Nasdaq: SIRI) and Liberty Media Corporation (Nasdaq: LINTA, LINTB, LCAPA, LCAPB, LMDIA, LMDIB) today announced that they have entered into agreements pursuant to which Liberty will invest an aggregate of $530 million in the form of loans to SIRIUS XM and its subsidiaries and receive an equity interest in SIRIUS XM.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

Under the terms of the agreements, the investments will be funded in two separate phases.

The first phase includes a $280 million senior secured loan from Liberty to SIRIUS XM, $250 million of which will be funded today. The proceeds of that loan will be used by SIRIUS XM to repay $171.6 million of its maturing 2 1/2% Convertible Notes due February 17, 2009, and the balance will be used for general corporate purposes, including working capital and transaction costs. The loan will bear interest at a rate of 15%, mature in December 2012, and be secured by the assets securing SIRIUS XM's existing term credit agreement.

The second phase provides an additional loan of $150 million to XM Satellite Radio, SIRIUS XM's wholly owned subsidiary. Liberty has also agreed to offer to purchase up to $100 million of the loans outstanding under XM Satellite Radio's existing credit facilities from the lenders.

Upon completion of the second phase of the Liberty investments, SIRIUS XM will issue Liberty an aggregate of 12.5 million shares of preferred stock convertible into 40% of the common stock of SIRIUS XM. In addition, Liberty will receive seats on the SIRIUS XM Board of Directors proportionate to its equity ownership. It is expected that John Malone and Greg Maffei will join the SIRIUS XM Board of Directors. Liberty's obligation to consummate the second phase of its investment is subject to various closing conditions.

Mel Karmazin, Chief Executive Officer of SIRIUS XM Radio, said, "We are pleased to have come to this agreement with Liberty Media, particularly in light of today's challenging credit markets. Liberty's investment is an important validation of what SIRIUS XM has already achieved and a vote of confidence in what we will achieve. This agreement enables Sirius XM to continue to develop the opportunities first outlined in the merger of Sirius and XM. By strengthening our capital structure and enhancing our financial flexibility, this investment allows us to continue providing the great content and innovative programming our subscribers know and love."

"We are excited to be investing in SIRIUS XM. We have been impressed with the company, its operations and management team," said Greg Maffei, president and CEO of Liberty. "SIRIUS XM's ability to grow subscribers and revenue in a difficult financial and auto market is indicative of how listeners view this as a "must have" service."

The agreements, and the transactions contemplated by the agreements, do not constitute a change in control for SIRIUS XM under its outstanding debt instruments and are not subject to the approval of the Federal Communications Commission. The receipt by Liberty of voting stock is subject to expiration of the applicable waiting period under the Hart-Scott-Rodino Act.

Important details of the agreements relating to this investment will be available on a Current Report on Form 8-K which SIRIUS XM expects to file with the Securities and Exchange Commission.

Liberty has advised that its investment will be attributed to the Liberty Capital group and is not expected to affect the timing of the previously announced split-off of a portion of Liberty Entertainment.

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 18.9 million subscribers.

About Liberty Media Corporation

Liberty Media Corporation owns interests in electronic retailing, media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: (1) the Liberty Interactive group, which includes Liberty's interests in QVC, Provide Commerce, Backcountry.com, BUYSEASONS, Bodybuilding.com, IAC/InterActiveCorp, and Expedia, (2) the Liberty Entertainment group, which includes Liberty's interests in The DIRECTV Group, Inc., Starz Entertainment, FUN Technologies, Inc., GSN, LLC, WildBlue Communications, Inc., and Liberty Sports Holdings LLC, and (3) the Liberty Capital group, which includes all businesses, assets and liabilities not attributed to the Interactive group or the Entertainment group including its subsidiaries Starz Media, LLC, Atlanta National League Baseball Club, Inc., and TruePosition, Inc., and minority equity investments in Time Warner Inc. and Sprint Nextel Corporation.

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the statements regarding Liberty Media's expectations related to the Sirius XM investment and the pending split-off of a portion of the Liberty Entertainment group. These forward looking statements are based on management's current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results could differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements speak only as of the date of this press release. Liberty Media expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Media's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Additional Information

Nothing in this release shall constitute a solicitation to buy or an offer to sell shares of the split-off company or any of the Liberty Media tracking stocks. The offer and sale of shares in the proposed split-off will only be made pursuant to an effective registration statement. Liberty Media stockholders and other investors are urged to read the registration statement to be filed with the SEC, including the proxy statement/prospectus to be contained therein, because it will contain important information about the transaction. A copy of the preliminary proxy statement/prospectus filed with the SEC is available, and the registration statement and definitive proxy statement/prospectus once filed will be available, free of charge at the SEC's website (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to Liberty Media Corporation, 12300 Liberty Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5408.

Participants in a Solicitation

The directors and executive officers of Liberty Media and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals to approve the transaction. Information regarding Liberty Media's and the split-off company's directors and executive officers and other participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be available in the proxy materials filed with the SEC.

G-SIRI

Statewide Anti-Smoking Campaign Takes New Approach in Curbing Teen Smoking

2009-02-16T22:00:00.000+02:00

Edgy youth tobacco prevention campaign will be hard for teens to ignore

PHOENIX, Feb. 16 /PRNewswire/ -- Arizona seeks to set precedence with its new tobacco prevention and education campaign -- "Brought to you by addiction." -- a mass media and grassroots campaign that harnesses the realities of tobacco addiction for an audience age 12 to 17. Its launch, today, marks a new frontier in teen focused anti-smoking campaigns in Arizona that until now focused on the health impacts of smoking. The campaign, which was created in consultation with a group of teen advisors -- some smokers, some friends of smokers -- is anchored in best practices from tobacco control experts across the nation and spear headed by Arizona's Tobacco Revenue Use Spending and Tracking Commission (TRUST Commission) which works with the Arizona Department of Health Services Bureau of Tobacco Education & Prevention (ADHS BTEP).

"Many teenagers perceive smoking as an intermediary activity, one that they will stop in a year or two. The reality, however, is that they find themselves addicted," said Wayne Tormala, bureau chief for ADHS BTEP. "While most teen campaigns focus on health impacts, research pointed us in a new direction, one we believe will forever change the way youth perceive commercial tobacco."

Through research it was discovered that forfeiting control to addiction was more relevant to teens than the health impacts message. In fact, there was a stagnant attitude toward the health effects of commercial tobacco use among the Arizona teens ages 12 to 17 who were interviewed. While they were well aware of the health implications and easily recited its impacts, these consequences were perceived as far removed from their immediate lives.

Ultimately, the idea of focusing the campaign on addiction was affirmed by both local and national research. Instead of health impacts, focus group participants were more moved by the loss of control over their day-to-day activities -- the constant disruptions caused by nicotine addiction. This and other discoveries were amplified by research from national organizations, including the American Cancer Society reporting that only three out of 100 high school smokers think they will still be smoking in five years, while studies show that the reality is about 60 of them are smoking seven to nine years after high school.

A member of the teen consultant group, a smoker herself, confirmed that the campaign was on target after previewing it for the first time. "(Addiction) got me early and it's hard to quit," said Kirin Meza, 17. "I think everybody thinks that they can control their own will, but it's not their choice that they need to smoke. It's the chemicals that drive them to want to have their fix."

Funding for this new tobacco use prevention campaign comes from the tobacco tax approved by voters in 2002 through Proposition 303. These are tobacco tax funds, not state general funds, and they are dollars that must be used for tobacco use prevention efforts. The campaign's 2009-2010 budget is approximately $3.5 million. Interestingly this is an amount near the $3.6 million spent each day in Arizona alone on tobacco-related healthcare. However, the campaign's year-long budget pales in comparison to the annual tobacco industry marketing expenditures nationwide, which total $13.4 billion according to the Campaign for Tobacco-Free Kids.

"With 23 percent of Arizona high school students smoking cigarettes, it is critical that we dedicate allocated funds to prevention and education efforts," said Bill Pfeifer, TRUST Commission Chairman and CEO of the American Lung Association's Southwest Region. "The Governor is already demonstrating her strong leadership by approving the use of voter-protected tobacco tax funds to launch this new youth tobacco prevention campaign."

The campaign includes English television ads, English and Spanish radio ads, posters, cinema advertising, online media, social media, a statewide grassroots effort, internet advertising and an original youth website, www.Venomocity.com -- a term coined to mean tobacco addiction and all that comes with it. The website will quickly become popular with teens. In addition to hosting all of the commercials, it's a dark satirical take on the "voice" and "personality" of addiction that entertains visitors while providing valuable information on the topic.

The commercials hit the airwaves today supported on the ground by simultaneous youth events at local malls which introduced the campaign with support from local radio stations. The events were hosted by malls in Phoenix, Glendale and Tempe. Similar events are scheduled to take place in Tucson, Flagstaff and Kingman next weekend and more events in other cities and towns across the state are planned. The idea is to make the campaign tangible and relevant in places already frequented by youth.

Some smoking and tobacco addiction statistics follow, more can be found at www.tobaccofreearizona.com:

The average age of smoking initiation is 12 1/2.
90 percent of adult smokers were regular smokers by age 19.
Almost a quarter of Arizona's high school students smoke (23 percent, a number that is higher than the national average.)
63 percent of high school smokers say they want to quit smoking.
49 percent of middle school students who smoke say they want to quit.
Every day about 4,000 teens try smoking and of those, an estimated 1,140 become daily cigarette smokers.

Harris Corporation Demonstrates Highband Networking Radio(TM) Systems at U.S. Army's C4ISR On-The-Move Event '08

2009-02-16T13:00:00.000+02:00

Army/Industry Event Tested Transformational Warfighting Technologies

MELBOURNE, Fla., Feb. 16 /PRNewswire-FirstCall/ -- Harris Corporation's (NYSE: HRS) new Highband Networking Radio(TM) (HNR(TM)) provided interoperable, long-range backbone communications for stationary, on-the-move and airborne platforms, including the Boeing A160T "Hummingbird" Unmanned Aerial System, at the U.S. Army's C4ISR On-the-Move Event at Fort Dix, New Jersey. The radio was co-developed with BAE Systems. The event was held this past summer and marked the Army's largest-ever Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) and networking technology demonstration.

The airborne communications layer provided by the A160T Hummingbird unmanned aerial system allowed Harris to demonstrate the system's ability to bridge air/ground communications between two geographically dispersed networks. The Army exercise also demonstrated that the Harris system could operate in both C-band and Ku-band simultaneously within a single, integrated network, thereby providing Brigade-and-above echelon commands with robust communications for tactical operations. During the exercise, 11 C-band and Ku-band HNR systems were demonstrated. Harris intends to support and participate in C4ISR OTM E09 and continue to leverage its relevant environment to further develop and accelerate features and capabilities in the HNR system.

"The performance achieved by the Highband Networking Radio in the C4ISR OTM event was an important milestone in the production of this product and provides continued validation of the capabilities of the Harris-developed Highband Networking Waveform(TM) in a variety of applications," said Wes Covell, president of Defense Programs for Harris Government Communications Systems. "Events such as this enable us to aid the Army in understanding how best to utilize the unique capabilities that the Highband Networking Radio brings to the warfighter, and at the same time, we have the opportunity to observe its use and performance in a tactical scenario with real soldiers in a relevant environment."

The Highband Networking Radio integrates directive-beam technology with mobile, ad hoc mesh networking, and achieves burst data rates of up to 54 Mbps. It has been implemented on a variety of fixed-wing, rotary-wing, and airship platforms, including piloted aircraft and unmanned aircraft systems. Applications of the Highband Networking Waveform and HNR extend to numerous scenarios, including terrestrial tactical communications augmented by air-to-ground and air-to-air nodes, as well as air-and-missile defense missions. The waveform and radio also can be used to extend the battlespace network into the maritime force contingent, connecting expeditionary forces with near-shore support and blue-water platforms. HNR was recently deployed to the U.S. Army 101st Airborne Assault Division's 2nd Brigade Combat Team in Baghdad.

The Highband Networking Waveform implements robust, agile, full mesh, ad hoc networks for terrestrial and airborne applications. The waveform enables autonomous selection of the best communications path by creating a self-forming, self-healing network where nodes can enter and exit without fixed-network infrastructure or operator intervention.

Harris Defense Programs develops, supplies, and integrates communications and information processing products, systems, and networks for a diverse base of aerospace, terrestrial and maritime applications supporting U.S. Department of Defense missions. Harris is committed to delivering leading-edge technologies that support the military's ongoing transformation to network-centric communications.

About Harris Corporation

Senator Lisa Murkowski Delivers Weekly Republican Address

2009-02-14T11:00:00.000+02:00

WASHINGTON, Feb. 14 /PRNewswire-USNewswire/ -- U.S. Senator Lisa Murkowski (R-AK) delivers the weekly Republican address. Enclosed below is a link to the audio file, YouTube link to the video, and text of the address. Please note that the YouTube link will go live once the embargo is lifted.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080519/RNCLOGO)

NOTE: The address is embargoed until 6:00 a.m. on Saturday.

Click here to download the mp3 audio.

Click here to watch the video.

Transcript:

"This is United States Senator Lisa Murkowski of Alaska.

"As I speak to you today, Americans from Alaska to Florida are grappling with a very difficult economy. Over the past 14 months, more than 3.6 million workers have lost their jobs, half of them since October. Over the same three-month period, the U.S. economy experienced its worst quarterly decline in 26 years. This is why President Obama called on Congress some weeks ago to pass an economic stimulus plan that would seek to jumpstart the economy and to prevent, as best it could, an even deeper economic spiral.

"Republicans have been supportive of a stimulus plan all along. Yet, over the past few weeks, a serious difference of opinion has emerged over what an economic recovery plan should include. Democrats, it seems, settled on a random dollar amount in the neighborhood of $1 trillion and then set out to fill the bucket. Republicans, on the other hand, thought that we should figure out what was at the root of the problem, and then see how much it would cost to fix. Since most economists agree that falling home prices are the root of the current troubles, we proposed a plan that would reduce monthly mortgage payments and make it easier to buy a home. The Republican proposal had the added benefit of being about half the cost of the Democrat plan. But Democrats control Congress, which means they got to choose which approach to use. And earlier this week, they hashed out the final details of a bill that, as some of them like to point out, was written almost entirely by them.

"All Americans, Republicans and Democrats alike, want our economy to recover. The question is: Will this plan work? In this regard, the President's own top economist, Larry Summers, has said that in order for a stimulus plan to work, it must be timely, targeted, and temporary. And, in many ways, the plan that Democrats in Congress approved this week is none of the above. It's not timely because less than half the discretionary spending in this bill will reach its intended target within the next two years. It's not targeted because much of the money isn't even directed where it's needed most. Much of the spending is wasteful, including hundreds of millions for new government cars and golf carts. And some of it places new burdens on already-strapped local and state governments. One Alaska school superintendent said that the increased funding means new services in his district, but that once the stimulus funding runs out he won't be able to pay for them. And canceling some of these programs once they've been created, he said, would expose his district to lawsuits.

"Finally, the bill isn't temporary because it calls for a permanent expansion of government that could add hundreds of billions of dollars to the federal budget every year.

"All of this is cause for serious concern. But Republicans are also concerned about this bill because we simply don't have the money to waste. Keep in mind: the $1.1 trillion we spend on the stimulus is not Monopoly money -- all of it is borrowed. Some might say the total cost of this bill is lower than $1.1 trillion. They're not including the interest payments.

"Where is all of this money going to come from? Well, the government pays its bills by selling promissory notes and by printing money. Who will buy these notes? They will be bought by countries that already hold enormous sums of U.S. debt -- countries like China. And remember, this is just one part of the recovery plan Democrats are proposing. The other parts, as outlined this week by Treasury Secretary Geithner, include $50 billion for housing, and unspecified hundreds of billions -- possibly even another trillion dollars -- for troubled banks, and to relieve financial institutions of so-called toxic assets. All this spending adds up, and has to be paid back -- paid back by our children and their children. And, as of now, the American people don't have the facts about the total cost.

"As a mother, I can say from experience that it doesn't make much sense to plan the family vacation before you figure out whether you can afford it. Yet that's just what Democrats seem to be doing. If Americans can't be assured that these programs will work, they should at least be told what they're going to cost. Taxpayers need to know what Washington is doing with their money. And as Republicans continue to pursue policies that strengthen our economy and create jobs, we'll insist that taxpayers aren't only protected -- but also well informed. Republicans in Congress have pledged to work with the majority party. It's my hope that they take us up on our offer as we closely monitor how and where this money is spent.

"Thanks for listening."

Paid for by the Republican National Committee. Not authorized by any candidate or candidate's committee.

Harris Corporation New Approach to NAB2009 Addresses Broadcasters' Pressing Business Challenges on Show Floor and Online

2009-02-13T16:21:00.000+02:00

CINCINNATI, Feb. 13 /PRNewswire-FirstCall/ -- Harris Corporation (NYSE: HRS), an international communications and information technology company, is bringing a unique, new approach to the upcoming National Association of Broadcasters show taking place April 20-23 at the Las Vegas Convention Center (North Hall, Booth N2502). Harris will present a full-scale program of solutions-based demonstrations, tips and techniques, and the latest technology advances that enable any broadcast operation to cost-effectively implement an advanced media workflow. In addition, to support broadcasters as they face challenging economic conditions, the company will for the first time deliver a "Virtual NAB" experience for broadcasters unable to make the costly trip to this year's convention.

"Facing unprecedented economic challenges, broadcasters will head to NAB2009 seeking concrete business solutions to help them compete for viewer attention and shrinking advertising dollars in an industry moving toward total media convergence," said Tim Thorsteinson, president of Harris Broadcast Communications. "At NAB, Harris will demonstrate how it bridges the gap between the traditional broadcast and IT worlds with tight software controls, enabling an advanced media workflow that manages every stage of the content lifecycle and allows broadcasters to profit from new revenue streams in both traditional and emerging business models."

From products to platforms to managed services, Harris offers a singular set of end-to-end capabilities that any broadcast operation can leverage to implement an advanced media workflow. With a Harris-powered advanced media workflow, broadcasters can manage complex advertising campaigns and program traffic and scheduling across multiple delivery services (broadcast, mobile, online, digital signage), with playlists passed off to a content delivery system that handles the appropriate format and aspect ratio conversion with a minimization of operating expense. The result is a highly automated content management environment that heightens creative and operational capabilities, reduces operating costs, and enables swift deployment of world-class media services.

New Approach on Show Floor

Taking its NAB approach beyond the traditional laundry-list of product introductions, Harris will provide visitors with access to a team of workflow technology experts who will be on hand to discuss and offer solutions to broadcasters' most pressing real-world business challenges, including:

-- How can broadcasters compete with Web-enabled and other nonlinear content providers?

-- What are the latest technology innovations that enable broadcasters to reach viewers on the go?

-- What is the most cost-effective way to transition traditional TV transmission to SD, HD, mobile?

-- What are the basics for creating 21st century master control for multichannel, revenue-enhancing broadcast?

NAB attendees are invited to visit the Harris theater, where live presenters will offer tips and demonstrations on topics ranging from how to drive new content management schemes and improve overall operational quality, to how to get live content to air faster. The theater will feature a revolving program schedule that will enable visitors to add presentations of interest into their convention agendas.

In another first, the Harris booth will also feature a groundbreaking master control center that will demonstrate how an interoperable Harris solution enables broadcasters to reduce operating costs per channel, stem the loss of advertising revenue due to technical failures, and promote rich image branding and viewer loyalty.

During the 63rd Broadcast Engineering Conference taking place at NAB2009, Harris will present an unprecedented 12 technical papers addressing the most recent developments in broadcast technology. Presentation subjects include "Designing and Testing AFD-Enabled Systems," "Metadata Challenges for Today's TV Broadcast Systems" and "BXF: How's it Working in the Real World?"

New Approach Online

"NAB is viewed as the prime opportunity for the industry to converge and converse on the significant issues of the day, but it also represents a considerable expense for both the manufacturers and the broadcasters who make the annual trek," said Thorsteinson. "Harris has a long-standing commitment to the broadcast industry and the financial stability to not only weather a difficult economy ourselves, but also to support our customers through this market downturn. So for the broadcasters unable to make it to this year's event, we will do our best to bring the show to them."

The Harris "Virtual NAB" will provide broadcasters who cannot attend this year's Las Vegas event with an informative, near real-time NAB experience without the hefty price tag. During the show, visitors to the Harris Web site will have access to live video feeds from the show floor, online demonstrations, a schedule of live presentations by workflow experts, and selected excerpts from the Harris presenters at the 63rd Broadcast Engineering Conference.

Preview

At NAB2009, Harris will announce new products and technology advances within every stage of an advanced media workflow, including compression and networking solutions, video servers, multiviewers, digital asset management, test and measurement, transmission platforms for both traditional and emerging delivery methods, and business-building software for digital signage networks.

Harris Broadcast Communications offers products, systems and services that provide interoperable workflow solutions that span the entire media delivery chain. The Harris ONE(TM) solution brings together highly integrated and cost- effective products that are ideal for emerging media business models and for customers upgrading media operations to digital and high-definition services.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of $5.4 billion and 16,000 employees - including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.

Sen. Mark Begich (D-Alaska), U.S. Rep. Donna Edwards (D-Md.) to be Featured on 'Inside Government'

2009-02-12T20:44:00.000+02:00

Both Attended AFGE's Recent Legislative and Grassroots Mobilization Conference

WASHINGTON, Feb. 12 /PRNewswire-USNewswire/ -- This week the American Federation of Government Employees' "Inside Government" radio show will feature Sen. Mark Begich (D-Alaska) and U.S. Rep. Donna Edwards (D-Md.), who both attended AFGE's recent Legislative and Grassroots Mobilization Conference. The show will air on Friday, Feb. 13 at 10:00 a.m. ET nationwide on Federal News Radio at www.federalnewsradio.com and 1500 AM in the Washington, D.C., area.

Begich will be on hand to discuss the U.S. economic recovery plan, from rebuilding infrastructure to finding sources of renewable energy. Edwards will share her thoughts on the Employee Free Choice Act, and creating green jobs as part of the economic stimulus package. The program also will feature J. David Cox, AFGE national secretary-treasurer, who will highlight AFGE's annual Legislative and Grassroots Mobilization Conference, the union's good government ad campaign, and AFGE's efforts to secure full funding for the Department of Veterans Affairs. Lastly, Dwight Bowman, AFGE 14th District national vice president, will discuss AFGE's fight against the National Security Personnel System, and other issues facing D.C. government workers.

"Inside Government" is hosted by AFGE Assistant General Counsel J. Ward Morrow. Programs are archived on the Federal News Radio Web site and can be heard on demand (available anytime) at http://www.federalnewsradio.com/?nid=52 or http://www.afge.org/insidegovernment. Please note there will be a short advertisement prior to the start of the program. The program is also available via iTunes podcast by clicking here. Users must install iTunes on their computers before accessing "Inside Government" via podcast.

For more information, please e-mail InsideGovernment@afge.org or go to www.federalnewsradio.com.

"Inside Government" is a one-hour weekly nationwide radio/Internet program dedicated to issues that impact federal and D.C. government employees. The show airs each Friday at 10:00 a.m. on Federal News Radio 1500 AM in Washington, D.C. and online at www.federalnewsradio.com. It is also available to 70 million iPod users through Apple's iTunes podcast. "Inside Government" is produced by The American Federation of Government Employees (AFGE), the nation's largest federal employee union, representing 600,000 workers in the federal government and the government of the District of Columbia.

TVEyes First to Offer Real-Time TV Search and Monitoring on iPhone

2009-02-12T20:19:00.000+02:00

Media monitoring service for industry, government and political users provides mobile search of TV and radio as well as instant notification and streaming video

FAIRFIELD, Conn., Feb. 12 /PRNewswire/ -- TVEyes Mobile(sm) for Apple(R) iPhone(TM) enables search for TV and radio broadcasts, real-time email notification of content that matches keywords of interest, and immediate playback of clips on the iPhone. TVEyes is the first and only media monitoring company to provide this capability.

"TVEyes Mobile provides our full TV and radio search, and real-time alert capabilities on the iPhone, an ideal platform on which to inaugurate our mobile initiative," said David Ives, CEO and founder of TVEyes, Inc. "Business, government and political users must be able to respond within the current day's news cycle regardless of where they are, in the U.S. or abroad, and TVEyes Mobile uniquely addresses that requirement."

TVEyes Mobile provides the same search and alert capability for U.S. and international broadcast television and radio as TVEyes Media Monitoring Suite for the desktop. Uniquely among media monitoring companies, TVEyes delivers video in the format required for video playback on the iPhone (H.264 or MPEG-4 Part 10). The service is available immediately, and at no additional cost, to subscribers of the company's Media Monitoring Suite.

TVEyes Media Monitoring Suite offers real-time tracking and historical search of U.S. and international broadcast television and radio via its continuously updated database. Users are alerted and can search topics based on a Spoken Word Index(TM) that retrieves television and radio clips and presents them for viewing in a Web-based environment. These clips can be saved in files and/or e-mailed as well as downloaded. Users can search the database and be alerted against keywords in English, Spanish, Chinese and Arabic - with real-time language translation.

About TVEyes

TVEyes Inc., headquartered in Fairfield, Conn., provides online, real-time spoken word search and indexing for television and radio broadcasts, audio and video search infrastructure for search engines and broadcast production, and advertising solutions for video and audio publishing Web sites. Its Media Monitoring Suite is in use by corporations, professional sports teams, political campaigns, elected officials and the military to provide up-to-the-second intelligence on broadcast news, in multiple languages for US and international markets. More information on TVEyes can be found at http://www.tveyes.com.

Spoken Word Index and Spoken Word Search are trademarks of TVEyes Inc. TVEyes Mobile and Media Monitoring Suite are servicemarks of TVEyes Inc. Apple and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. All other trademarks referenced are property of their respective owners. (C)2009 TVEyes Inc.

FreeWave Technologies' Dan Paladino to Present at CRWA 28th Annual Training Conference and Exhibition

2009-02-12T17:39:00.000+02:00

BOULDER, Colo., Feb. 12 /PRNewswire/ --

    WHO:       Dan Paladino
               Business Development Manager
               FreeWave Technologies, Inc.

               With FreeWave since 2003, Dan Paladino has more than 10 years
               experience working with users of wireless technology in
               multiple industries including: Irrigation, various power
               generation systems, water/waste water, SCADA and metering. At
               FreeWave, Paladino is responsible for new market development,
               business-to-business and OEM development and growth. Prior to
               joining the company, Paladino was an independent consultant to
               organizations using wireless technology to meter and sub-
               metering electric, water and natural gas. Additionally,
               Paladino co-owned a technology development company and also
               held managerial and product development positions within
               Fortune 100 medical device manufacturing and supply companies.

               Founded in 1993, FreeWave Technologies is a world leader in
               the innovative design and manufacture of license-free spread
               spectrum and licensed band radios and wireless data solutions
               that are trusted for mission critical applications around the
               world. www.freewave.com.

    WHAT:      "Utilizing Radio Frequency in SCADA Systems within the Water
               Industry"
               Radio communications and their advanced flexibility offer
               technological benefits to new SCADA system deployment as well
               as a means for upgrading performance to existing SCADA
               systems. In fact, the limitations, barriers and costs of wired
               systems can be eliminated. Improvements in radio technologies
               allow for innovative control and monitoring of SCADA systems
               with outstanding reliability and security. Thus users are
               provided the ability to reliably and affordably monitor and
               control devices from a distance. This presentation will
               educate and reinforce how wireless radio systems can provide a
               robust communication backbone for all of an organization's
               SCADA, analog/digital (IO), serial and Ethernet challenges.

    WHERE:     Colorado Rural Water Association (CRWA)
               28th Annual Training Conference and Exhibition
               Crowne Plaza Hotel
               2886 S. Circle Drive
               Colorado Springs, CO. 80906

    WHEN:      Thursday, February 19, 9:00 a.m. - 10:00 a.m. MT

    CONTACT:   For more information on FreeWave, or to set up an interview
               with Mr. Paladino, please contact Terri Douglas at Catapult
               PR-IR (303) 581-7760, ext. 18 or tdouglas@catapultpr-ir.com.

Nothing's Sexier Than Smooth Jazz on HD Radio This Valentine Season!

2009-02-12T17:00:00.000+02:00

Chocolates and roses again? Been there, gotten that!

Tell her you really love her with the clear and dulcet tones of Smooth Jazz on HD Radio

It's so Romantic!

ORLANDO, Fla., Feb. 12 /PRNewswire/ --

WHAT: This Valentine's Day, be with the one you love: HD Radio. Listen and relax with the likes of peaceful Kenny G, silky Sade and Benson and the soulful Marvin Gaye. These multicast stations, among many others, are providing some of the best romantic smooth jazz ballads to make your special day a little sweeter:

101.9-2 WRXP (New York/Emmis)
107.5-2 KMVK (Dallas/CBS Radio)
99.1-2 KODA (Houston/Clear Channel Radio)
105.9-2 WJZW (Washington, D.C./Citadel)
106.7-2 WMJX (Boston/Greater Media)

WHY: Because meeting Smooth Jazz on HD Radio was fate, becoming HD Radio's friend was a simple and easy choice, but falling in love with Smooth Jazz on HD Radio, now that's a perfect Love Story.

WHEN: Right now!

WHERE: For more information on HD Radio stations in your market, check out http://www.hdradio.com/#stationGuideWidgetry.

SpongeTech(R) Delivery Systems, Inc. CEO Interviewed Live on Steve Crowley's American Scene Radio Show

2009-02-12T16:00:00.000+02:00

SpongeTech(R)'s CEO Interview Aired Today on American Scene Radio Show

NEW YORK, Feb. 12 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. America's Cleaning Company(TM) (OTC Bulletin Board: SPNG) is pleased to announce that its CEO and President, Michael Metter, will be interviewed live today on Steve Crowley's American Scene Radio Show at 11:54 a.m. EST. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, www.businesstalkradio.net. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.

For more information, please contact Investor Relations at 1-877- SPONGE-T, and/or visit the Company's website at: www.spongetech.com.

About SpongeTech(R) Delivery Systems, Inc.

    Contact:
    SpongeTech(R) Delivery Systems, Inc.
    Investor Relations:
    Bill Young, 1-877-776-6438
    wayoung55@aol.com or info@spongetech.com

SXSW Music Announces Oak Ridge Boys, Little Steven and More Bands

2009-02-11T20:49:00.000+02:00

AUSTIN, Texas, Feb. 11 /PRNewswire/ -- The South by Southwest (SXSW) Music Conference and Festival, scheduled to take place Wednesday, March 18 - 22, 2009 in Austin, Texas is excited to announce the participation of the Oak Ridge Boys in the 2009 Music Conference and Festival. Through decades of mainstream success, the Oak Ridge Boys continue to reinvent themselves, meeting the challenges of the changing nature of the music industry. As their era of radio dominance wound down, they forged unique marketing partnerships and sought out innovative concert bookings. They are a tireless touring act, playing over 170 dates a year and are annually among the top grossing acts in country music. Their multi-platinum pop crossover hit 'Elvira' started a chain of hits with sales exceeding 30 million. They come to Austin to celebrate their amazing history, exciting future and share their expertise with emerging artists and executives attending SXSW. The Oak Ridge Boys will sit down for a SXSW Interview on Thursday, March 19 at 3:30 p.m. at the Austin Convention Center. The group will expound upon their experience, offer advice to new artists, answer audience questions, and possibly offer an a cappella song or two. For the first 200 registrants, there will be a giveaway of free Oak Ridge Boys Blu-Blocker Magnum sunglasses. For more information on the Oak Ridge Boys, visit http://www.oakridgeboys.com

South By Southwest is also thrilled to announce Steven Van Zandt as a featured speaker. 'Little Steven' will address registrants on Friday, March 20 at the Austin Convention Center. Steven Van Zandt is a musician, songwriter, arranger, record producer, actor, human rights activist, radio and TV content producer, and radio DJ. He is a founding member of Bruce Springsteen's E Street Band and a well-known musician in his own right, performing with his band Little Steven and the Disciples of Soul. Van Zandt was an original cast member of all seven seasons of HBO's hit series "The Sopranos." He is also a critically acclaimed record producer and radio host. Van Zandt's acclaimed radio show, Little Steven's Underground Garage, now reaches over 1.2 million listeners in North America and over 50 countries around the world via international affiliates, Voice of America, and Armed Forces Radio. Van Zandt also created and programs two formats on Sirius/XM Satellite Radio, the Underground Garage channel and the Outlaw Country channel. In 2006, Van Zandt created Wicked Cool Records, an imprint which is now home to more than nineteen Garage Rock bands. For more information on Wicked Cool Records, visit: www.wickedcoolrecords.com. For more information on the Underground Garage, visit: www.undergroundgarage.com.

The SXSW Music festival is pleased to announce Steve Aoki (Los Angeles, CA), Brownout (Austin, TX), Chiwoniso (Harare, South Africa), Easy Action (Detroit, MI), Perry Farrell (Los Angeles, CA), Charles Hamilton (New York, NY), PJ Harvey & John Parish (ENGLAND), Ladyhawke (Wellington, NEW ZEALAND), LMFAO (Los Angeles, CA), MSTRKRFT (Toronto, CANADA), The Proclaimers (Edinburgh, Scotland), Reigning Sound (Asheville, NC), Rox (London, UK), School of Seven Bells (Brooklyn, NY), Shwayze (Malibu, CA), That Petrol Emotion (London, UK), Themselves (Oakland, CA), Wayna (Washington, MD), and The Whip (Manchester, ENGLAND). A list of 1800 confirmed bands is currently on the website. A full band schedule will be posted to sxsw.com on Monday, February 16.

The South By Southwest Music & Media Conference takes place March 18 - 22, 2009 at the Austin Convention Center in Austin, Texas. The previously announced Quincy Jones' keynote anchors four days of panels, interviews, workshops, peer meetings and the trade show exhibition covering a wide variety of topics, addressing the concerns and interests of musicians, executives and music lovers. Daytime events flow into the world-renowned music festival, which showcases over 1800 acts on stages throughout downtown Austin.

For more information on SXSW or to register for the conference, please access the website at www.sxsw.com or e-mail sxsw@sxsw.com.

SXSW Music Conference and Festival is sponsored by Miller Lite, Fuze Beverage, Sonicbids, ZonePerfect, Independent Film Channel, The MLB Authentic Collection, Pepsi, and the Austin Chronicle.

    For more information, contact
    Elizabeth Derczo 512/467-7979 ext. 209

Audio Publishers Association Nominates Two Stories From Golden Age Audiobooks for Prestigious Audies Award

2009-02-11T19:12:00.000+02:00

Hubbard Selections Chosen from Record Field of 1,000 Audio Entries Representing $200+ Million Industry

HOLLYWOOD, Calif., Feb. 11 /PRNewswire/ -- In what amounts to another publishing milestone for Hollywood-based Galaxy Press, two of its Stories from the Golden Age audiobooks (www.goldenagestories.com) have received nominations for the highly-coveted 2009 Audies Award by the Audio Publishers Association (APA), it was announced (http://www.audiopub.org/press-releases.asp).

Audio versions of L. Ron Hubbard's classic pulp fiction stories, Branded Outlaw and Under the Black Ensign, were selected out of a record field of 1,000 entries from audio publishers to compete for the prizes given out in late May, the only award program in the United States devoted entirely to honoring spoken word entertainment. The Association of American Publishers reports that the audiobook industry tops $200 million in the U.S. alone.

Branded Outlaw (L. Ron Hubbard, Galaxy Audio) --a story that Audiofile Magazine says, "has it all for fans of the pulp Western" --was nominated in the category of Audiobook Adaptation. It was performed by R.F. Daley, David O'Donnell, Bob Caso, Jim Meskimen and Tamra Meskimen.

Under the Black Ensign (L. Ron Hubbard, Galaxy Audio) --called "a gem in American pulp fiction" by Audiofile Magazine--was nominated in the category of Package Design and was performed by a full cast featuring R.F. Daley, Marisol Nichols, Jim Meskimen, Phil Proctor, Thomas Silcott and Michael Yurchak.

"We've only just started rolling out these stories to the public," said Meskimen, who also serves as senior director of the entire 80-book line of Golden Age Stories audiobooks. "We're excited that people can share in the adventure."

Two of the Golden Age audiobooks--Spy Killer (mystery) and The Great Secret (science fiction)--were already acknowledged by Publishers Weekly as the best of 2008, while The Iron Duke (general fiction) was awarded Audiofile Magazine's Earphone Award.

"All this attention has come from only our first six audiobooks in the 80-book line," added John Goodwin, Galaxy Press president. "I think that our focus on detail in the audiobook series and the sheer genius of Mr. Hubbard's writing and characters have a lot to do with our success."

Go to www.goldenagestories.com/html/podcasts.php#6 for a video presentation on how the Golden Age Stories audiobooks were created. For more information about the Golden Age line of audiobooks, go to www.goldenagestories.com.

SIRIUS XM Radio to Offer Listeners Extended Block of Tom Petty's Buried Treasure Show on Deep Tracks Channel

2009-02-11T15:00:00.000+02:00

NEW YORK, Feb. 11 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) announced today that Tom Petty's critically-acclaimed Thursday evening show on Deep Tracks, Tom Petty's Buried Treasure, will now also be broadcast each Sunday evening for an uninterrupted four hours on Deep Tracks SIRIUS channel 16 and XM channel 40 beginning Sunday, February 15.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

Due to popular demand, SIRIUS XM listeners will now have access to four non-stop additional hours of Tom Petty's Buried Treasure on SIRIUS XM's Deep Tracks channel every Sunday from 8:00 pm - 12:00 am ET/5:00 pm -9:00 pm PT. Each Sunday's special will kick off with a rebroadcast of the latest show that debuted on Deep Tracks the prior Thursday at 8:00 pm ET/5:00 pm PT. The programming will continue with two shows from the Buried Treasure vault as well as an additional encore of Thursday's show.

Each week, Grammy Award(R) -winning singer-songwriter, Rock and Roll Hall of Famer, Heartbreakers ringleader, Traveling Wilbury and rock legend Tom Petty pulls together a set of rare and classic tracks, many vintage, from his private vaults, for an hour of radio magic woven together with Petty's informed, passionate and entertaining commentary. This season Tom has been particularly inspired by the numerous emails from fans of the show requesting their personal "buried treasures" and their input will no doubt influence Tom's choice of playlists.

Tom Petty, along with legendary musicians including Jimmy Buffett, Bob Dylan, Eminem, Grateful Dead, David Johansen, B.B. King, Wynton Marsalis, Willie Nelson, Mojo Nixon, Elvis Presley, Marky Ramone, Lou Reed, Frank Sinatra, Bruce Springsteen and "Little Steven" Van Zandt represent the diverse and creative artist-driven music programming being broadcast by SIRIUS XM today.

SIRIUS XM's Deep Tracks explores classic rock's archives by digging deep into classic rock albums. Deep Tracks listeners will hear Eric Clapton, Pink Floyd, The Doors, The Allman Brothers, The Beatles, Jimi Hendrix, The Rolling Stones, Lynyrd Skynyrd, The Who, Bob Dylan and many others.

For more information, including a complete broadcast schedule, please visit www.sirius.com/deeptracks or www.xmradio.com/tompetty.

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 18.9 million subscribers.

P-SIRI

    Contacts for SIRIUS XM Radio:

    Samantha Bowman
    SIRIUS
    212 901 6644
    sbowman@siriusradio.com

Dollar Energy Fund, KDKA Help Spread the Warmth with First-Ever 'Warmathon'

2009-02-11T14:20:00.000+02:00

February Event Will Help Pittsburghers Who Need Help Paying for Utility Services

PITTSBURGH, Feb. 11 /PRNewswire/ -- NewsRadio 1020 KDKA and Dollar Energy Fund, Inc. are teaming up for the first ever "Warmathon," a 30-hour live broadcast from the PPG Wintergarden on February 12-13, 2009. The Warmathon will support Dollar Energy Fund's Hardship Program and help low-income families maintain basic utility service.

"The current economic climate and the harsh winter weather are making many of our neighbors throughout the Pittsburgh area struggle to stay warm," said Cindy Datig, chief executive officer, Dollar Energy Fund. "Many of our elderly and working neighbors struggle to maintain basic utilities. No one should have to face a Pittsburgh winter without utility service. Our goal is to spread the warmth to more than 1500 families in the Pittsburgh area."

Since 1983, Dollar Energy Fund has helped low-income families and senior citizens on fixed incomes maintain or restore utility service through smart, efficient programs including emergency assistance, payment counseling and weatherization. The first ever NewsRadio 1020 KDKA Warmathon to benefit Dollar Energy Fund will raise funds to support the organization's Hardship Program, a utility assistance program that provides grants to low-income households.

KDKA and Dollar Energy Fund invite Pittsburghers to Help Spread the Warmth and support the Warmathon! Drop in to the PPG Wintergarden on February 12th & 13th to take part in the onsite activities and live KDKA broadcast. Listen to NewsRadio 1020 KDKA on the AM dial, and www.KDKAradio.com. To donate, call in during the event, mail a check to P.O. Box WARM, Pittsburgh, PA 15230 or visit www.Warmathon.com.

Funding generated by the Warmathon will stay in Pittsburgh. Dollar Energy Fund, Inc. is a non-profit organization and all donations are tax deductible. Find full details about the Warmathon event at www.Warmathon.com.

NewsRadio 1020 KDKA is owned and operated by CBS Radio. Find KDKA at 1020 on the AM dial, and KDKAradio.com online.

About Dollar Energy Fund, Inc.

Dollar Energy Fund was founded in 1983 and has grown to become the largest hardship fund in Pennsylvania and the fourth largest in the United States. Dollar Energy Fund is a 501 (c) 3 organization in the state of Pennsylvania. Since 1983, the organization has provided over $55 million in utility assistance grants to more than 225,000 low-income families and individuals in Pennsylvania, New Jersey and New York. Individuals interested in contributing to Dollar Energy Fund can do so through their utility bills, by sending donations directly to Box 42329, Pittsburgh, PA 15203 or through the organization's website. Additional information can be found on Dollar Energy Fund's website, www.dollarenergyfund.org.

Radio Programs on Cutting-Edge Energy News Now Online at www.NewMexicoCleanEnergyUpdate.com

2009-02-09T16:10:00.000+02:00

ALBUQUERQUE, N.M., Feb. 9 /PRNewswire/ -- Looking for news on the latest in clean energy? Audio news reports on emerging clean energy technology, resources, infrastructure and government policy are now online at http://www.NewMexicoCleanEnergyUpdate.com.

The New Mexico Clean Energy Update is a series of five-minute radio news reports that feature interviews with prominent scientists, engineers, teachers, students, policymakers, business leaders, public leaders, and citizens. While the program originates in New Mexico, the clean energy developments featured are applicable nationwide.

Each New Mexico Clean Energy Update story focuses on a specific project, group, person or technology as the pivot point from which to tell the larger story of how specific clean energy technologies are coming on line and integrating with the existing energy infrastructure.

Topics examined include the smart electric grid, biofuels, solar, wind and geothermal energy, green housing, recycling carbon dioxide, the water-energy connection, conservation, and more.

The program's five-minute format is ideal for public radio stations. Each episode is also available as streaming audio or free podcast downloads for individuals.

"The nation's need to reduce carbon emissions and dependence on foreign sources of fuels is urgent," says Howard Stephens, co-producer of the program. "To address these problems, new technology and America's vast clean, renewable energy resources must be brought mainstream. The New Mexico Clean Energy Update reports the latest innovations and developments to solve our energy problems and reduce our carbon footprint."

The New Mexico Clean Energy Update is written and produced by Jim Cochran, Howard Stephens, and Virginia Stephens of Vision Trust, Inc., a non-profit, tax-exempt organization founded to develop educational and public interest programs. The program is produced with funding from the New Mexico Energy Conservation and Management Division.

To suggest ideas for future programs on pushing the development of clean energy forward, contact the producers at reports@newmexicocleanenergyupdate.com. Radio stations can request broadcast quality wav files of the reports through requests@newmexicocleanenergyupdate.com.

ZTE Launches Industry's Smallest WiMAX 16e RRU Device

2009-02-09T14:30:00.000+02:00

SHENZHEN, China, Feb. 9 /PRNewswire-Asia/ -- ZTE Corporation ("ZTE"), a leading global provider of telecommunications equipment and network solutions, has officially launched the industry's smallest WiMAX 16e RRU (Remote Radio Unit) product, the R9110 that helps reduce the number of base stations by 50%, hence enabling telecom operators to maximize their return on investment (ROI). The company will be exhibiting the new device at the Mobile World Congress Barcelona 2009 from February 16-19 to demonstrate its continuous R&D efforts and expertise in WiMAX field.

ZTE RRU R9110 is based on BF4*8 Multi-Antenna technology, which effectively improves signal quality from a single base station, allowing extensive network coverage and enhanced network performance. Compared with traditional devices using MIMO technology, RRU R9110 further minimizes the number of base stations from 35%-50%, helping telecom operators reduce network construction and maintenance costs. In addition, the latest RRU device supports dual carrier discontinuous spectrum, enabling a maximum speed of 100MHz expansion between uplink and downlink. By leveraging on this advantage, telecom carriers using traditional FDD spectrum can save cost and investment on RRU, antenna and wireless tower required in network expansion by up to 50%.

"We are elated to be part of this prestigious telecom industry event in Barcelona to demonstrate the extraordinary features of our latest RRU product. This is highly significant for us in showing the result of our remarkable R&D efforts and state-of-the art technology in the WiMAX arena," said Mr. Zhao Songpu, ZTE's General Manager of WiMAX products. "With the introduction of our latest RRU product to the market, we are offering cost-effective solution for telecom carriers to make network construction more flexible, hence helping them to achieve low TCO and enhance their ROI."

ZTE is one of the few vendors in the world that pioneered research and development on WiMAX. It is also the only Chinese company with a representative in the 15-man Board of Directors in the WiMAX Forum(TM), and with about a dozen of WiMAX R&D institutions located in different regions globally. As of November 2008, ZTE has already deployed more than 30 WiMAX 16e networks across different regions and countries, including Asia-Pacific, Middle East, Africa, Europe, and the Americas region.

ZTE will be exhibiting at booth 8B127 in Hall 8 and hospitality suite CY13+14 during the event.

About ZTE

ZTE is a leading global provider of telecommunications equipment and network solutions. The ZTE product range is the most complete in the world -- covering virtually every sector of the wireline, wireless, service and terminals markets. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries, helping them to achieve continued revenue growth and to shape the future of the world's communications. ZTE commits around 10% of annual turnover to research and development and takes a leading role in a wide range of international bodies developing emerging telecoms standards. It is the fastest growing telecoms equipment company in the world, and is China's only listed telecoms manufacturer, with shares publicly traded on both the Hong Kong and Shenzhen Stock Exchanges. In the Asian Wall Street Journal's Readers' Survey 2007, ZTE was among the 'Top 10 Most Admired Companies in China', the only company that was included in the Top 10 list representing the telecom industry. ZTE was awarded the "Most Promising Vendor of the Year" by Frost & Sullivan in its 2007 Asia Pacific ICT Awards, and was reported as the fastest growing telecom equipment and solutions provider among the major telecom vendors worldwide by IDC in 2007. ZTE was included in BusinessWeek's 2006 ranking of China's Top 20 Brands. For more information, please visit http://www.zte.com.cn .

    For more information, please contact:

     Margrete Ma
     ZTE Corporation
     Tel:   +86-755-2677-5207
     Email: ma.gaili@zte.com.cn

     Romy T. Arambulo / Ada Ho
     Edelman PR
     Tel:   +852-2837-4727 / +852-2837-4747
     Email: romy.arambulo@edelman.com / ada.ho@edelman.com

SpotCrime.com Announces Exclusive Online Crime Mapping Partnerships With Television, Radio and Print Outlets

2009-02-09T13:30:00.000+02:00

Public Safety Data Easily Accessed by Thousands of Additional Citizens

BALTIMORE, Feb. 9 /PRNewswire/ -- SpotCrime.com, the leading online crime mapping service, today announced exclusive partnerships with diverse media outlets to feature SpotCrime.com's unique crime mapping and alert service on their websites. New SpotCrime.com partners are: WVIR-TV NBC29, Charlottesville, VA; KLAS-TV, Las Vegas, NV; WBAL Radio, Baltimore, MD; and ExhibitAnews Baltimore. In January, SpotCrime.com announced an exclusive partnership with The Ledger daily newspaper, the leading media outlet in Polk County, Florida.

"SpotCrime.com provides accurate, easy-to-use and visually compelling crime information for our online audience," said Chris Way, Director of Digital Media at KLAS-TV. "It's important for us to maximize viewership on all our channels. A genuinely useful public resource like SpotCrime.com helps us do that."

SpotCrime.com provides information on 190 cities across the United States, Canada and the UK. The free service allows users to view reported crime activity on an easy-to-use map. Detailed information is available on the date, time, event type and location of a crime. Users can sign up to receive alerts automatically via email. Alerts can be sent to desktop computers and mobile devices, including iPhones. SpotCrime.com is also available on Facebook and Twitter.

"The trend toward accessing civic information online is firmly entrenched and will continue to grow," said Colin Drane, CEO of SpotCrime.com. "Citizens need ready access to public safety data, and need to be able to obtain it on any site they visit for news and information. We look forward to making SpotCrime.com's comprehensive data available through an increasing number and variety of partner sites."

About SpotCrime.com

SpotCrime.com is the leading online resource for crime maps, automated alerts and tools for user participation to help improve public safety. The site provides timely and accurate crime information on 190 cities across the United States, Canada and the UK. To learn more, visit www.spotcrime.com.

Religious Broadcasters Embrace Revolutionary Low-Cost Satellite Broadcast System from ATCi

2009-02-09T00:00:00.000+02:00

NASHVILLE, Tenn., Feb. 8 /PRNewswire/ -- National Religious Broadcasters Conference 2009 - Antenna Technology Communications Inc. (ATCi), a provider of commercial satellite communications systems and services, announced at the National Religious Broadcasters Conference being held in Nashville, TN, the introduction of Altair, its specialized family of pre-packaged broadcast systems. The Altair family of uplink satellite broadcasting systems were designed to meet the unique requirements of varying broadcast companies and applications such as but not limited to: religious institutions to broadcast the Gospel, universities for distance learning applications, new satellite channels that would like to transmit their channel to be picked up by cable companies, existing channels to broadcast specific program feeds, large corporations to provide live feeds from headquarters to remote sites, and news agencies for transmitting live news feeds.

Altair is available in 1 channel, 2 channel, 3 channel and 4 channel packages in both C and Ku-band depending on customer needs. The Altair package includes the antenna and all related indoor and outdoor electronics that will handle encoding, modulation, transmission as well as monitoring of the satellite signal. The Altair systems are offered all-inclusive, in stock and pre-tested for maximum reliability allowing for quick set up and fast time to air.

"Because of the success of our custom systems for satellite broadcasting applications, our customers, in particular religious communicators had voiced a critical need for an affordable pre-packaged system that would keep the doors of electronic media open for the spread of the Gospel," said Gary Hatch, ATCi's CEO. "ATCi's low-cost high quality Altair systems represent yet another indication of the Company's dedication to responding to crucial market demands," Hatch concluded.

New technologies provide incredible cost savings. Priced aggressively, with systems well under its competition, ATCi has already provided these packaged systems to customers worldwide making the Company a leader in satellite transmission systems.

About ATCi

ATCi's mission is to enhance the customer's opportunity for profit by providing quality, reliable and cost effective satellite and fiber linked communication components and systems to commercial entities in the U.S. and abroad. ATCi is headquartered in Chandler, Arizona with operating sales offices in North America. For further information on ATCi products and services, please call 480-844-8501 or visit our Web site at http://www.atci.com.

WEGENER(R) and Microspace Reaffirm Commitment to Christian Radio Consortium

2009-02-06T19:30:00.000+02:00

DULUTH, Ga., and RALEIGH, N.C., Feb. 6 /PRNewswire-FirstCall/ -- Wegener Corporation (Nasdaq: WGNR), a leading provider of equipment for television, audio and data distribution networks worldwide, and Microspace Communications Corporation, the leader in satellite delivery services for audio services, digital signage, business communications, and digital cinema, today jointly reaffirmed their long-term commitment to serving the Christian Radio Consortium (CRC).

The CRC, a group of Christian radio satellite program distributors, decided a decade ago to standardize upon a platform comprised of WEGENER DVB-compliant satellite media receivers, the WEGENER Compel(R) network control system, as well as Microspace's VELOCITY(R) satellite delivery services, so that they and their affiliates could transition smoothly from analog to digital broadcasting.

By standardizing on WEGENER satellite receivers, CRC members, including Salem Radio Network, Moody Radio, SkyLight Satellite Network, IRN/USA Radio News, and VCY America Network, established a cost-effective platform by which thousands of Christian radio stations could easily select from the hundreds of faith-based programs offered on dozens of CRC member radio networks.

Chicago-based Moody Radio, one of the nation's premiere Christian radio networks, recently upgraded its WEGENER Compel network control system. With this upgrade, the Compel system in Moody's network operations center now has the latest Compel software for the most efficient, addressable scheduling, management, and delivery of content to its affiliate network. Moody owns and operates 35 U.S. radio stations and provides programming to over 400 radio affiliates, serving over one million listeners per week.

"Compel enables us to easily streamline, customize, and control our program delivery to meet the needs of our affiliates," said Doug Hastings, Manager of Administration for Moody Radio, part of the multifaceted ministry of the Moody Bible Institute. "By utilizing WEGENER technology and Microspace satellite services for the past 4 years, we have simplified the process of getting our programs to our affiliates and ultimately to our listeners."

As business partners with a 20-year relationship, Microspace has long supported the WEGENER media distribution platform that CRC member networks use for radio broadcasting, and is committed to expanding its support to include next-generation models, such as the WEGENER file-based broadcasting solution. WEGENER's file-based solution is currently supporting various radio and video applications in thousands of sites around the world. File-based broadcasting and DVB-S2 satellite modulation will enable the CRC to migrate to more efficient, store-and-forward transmission of content to stations. A global entity with U.S. offices in Raleigh, N.C., Microspace manages reliable media transmission around the clock to over 340,000 receive sites via the world's top satellites.

According to Greg Hurt, vice president of sales and marketing at Microspace, "The partnership between the CRC and Microspace has been a special one. We fully intend to support their needs well into the next decade."

"Along with our partner Microspace, we at WEGENER are extremely pleased to reaffirm our unwavering support for the CRC," said Ned L. Mountain, president and chief operating officer of WEGENER. "And we want to ensure CRC members that they can continue to depend upon our linear and non-linear broadcast platforms to transmit their networks with utmost reliability."

ABOUT WEGENER

WEGENER(R) (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (Nasdaq: WGNR), is an international provider of digital video and audio solutions for broadcast television, radio, telco, private and cable networks. With over 30 years experience in optimizing point-to- multipoint multimedia distribution over satellite, fiber, and IP networks, WEGENER offers a comprehensive product line that handles the scheduling, management and delivery of media rich content to multiple devices, including video screens, computers and audio devices. WEGENER focuses on long- and short-term strategies for bandwidth savings, dynamic advertising, live events and affiliate management.

WEGENER(R) can be reached at (770) 814-4000 or at www.wegener.com.

ABOUT MICROSPACE

Microspace Communications Corporation (Microspace), a subsidiary of Capitol Broadcasting Company, is the leader in satellite services for digital signage, business communications and digital cinema. The company operates the largest global business satellite broadcasting network with nearly 340,000 remote links worldwide.

Microspace's VELOCITY content delivery platform is available as either a dedicated solution or as an on-demand service, enabling customers to easily and affordably expand bandwidth as their delivery needs change. Microspace is headquartered in the U.S. and has a presence in Europe and Latin America. For more information, visit www.microspace.com.

MICROSPACE can be reached at (919) 850 4500 or at uplink@microspace.com

SIRIUS XM Radio Launches Mad Dog Radio Channel

2009-02-06T15:00:00.000+02:00

Headlined by sports talk star Chris 'Mad Dog' Russo, new all-sports talk channel airs live nationwide 24 hours a day on SIRIUS channel 123 and XM channel 144

On-air personalities include Gary Williams, Bruce Murray, Bill Pidto, Andy Gresh and Larry Krueger

"The Dog House" invites sports fans to be nightly co-hosts

NEW YORK, Feb. 6 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) announced today that Mad Dog Radio, the all new, all-sports talk channel headlined by Chris "Mad Dog" Russo, has launched nationwide exclusively on SIRIUS channel 123 and XM channel 144. Mad Dog Radio features 24 hours of live sports talk daily Monday through Friday, plus live weekend programming, hosted by sports talk personalities from around the country.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

A sports talk icon known to fans nationwide, Russo debuted as host of the channel's anchor program, Mad Dog Unleashed, in September. The exclusive show originates live from SIRIUS' New York studios every weekday afternoon from 2:00pm to 7:00pm ET and features Russo's take on the biggest sports stories from around the country, plus listener calls and hard-hitting interviews.

Filling out the Mad Dog Radio roster are sports talk veterans Gary Williams, Bruce Murray, Bill Pidto, Andy Gresh, Larry Krueger and other engaging personalities who will discuss all the latest news from the world of sports, debate the issues of the day, and conduct interesting and enlightening interviews with some of the biggest names in sports.

Mad Dog Radio programming also airs live online on SIRIUS Internet Radio and XM Radio Online.

Mad Dog Radio Weekday Schedule: (All times ET)

Monday - Friday

6 am - 10 am: The First Word with Gary Williams
10 am - 2 pm: The 'B' Team with Bruce Murray and Bill Pidto
2 pm - 7 pm: Mad Dog Unleashed with Chris Russo
7 pm - 8 pm: The Doghouse
8 pm - 1 am: The Gresh Show with Andy Gresh
1 am - 6 am: Overtime with Larry Krueger

"I can't think of a better place to work than SIRIUS XM and I can't think of a better place to be if you're a sports talk radio host than Mad Dog Radio," said Russo. "You have the freedom to do exactly what you want with your show -- no restrictions. You can talk about any sport and any team in any state. From coast to coast and north to south, we have brought in some of the best talk talent in America and we're rarin' to go. If you care about sports and you want to listen to quality sports talk, wherever you might be in this country, then Mad Dog Radio is the place to be."

"With Chris' abundant talents both on and off the mic and SIRIUS XM's creative freedom, we've built a new and innovative platform that, like Mad Dog, is hard-hitting, entertaining and unlike anything else on radio," said Scott Greenstein, SIRIUS XM's President and Chief Content Officer. "Since coming to satellite radio, Chris has thrived. So, too, will the personalities who have followed him to the Mad Dog Radio channel, who recognized this as an exciting opportunity and have come from all over the country. They are engaging, opinionated and inspired to provide our listeners with the best all-sports talk radio station in the country, where fans everywhere will find live, compelling sports talk on their SIRIUS and XM radio 24 hours a day."

The morning drive show, The First Word (6:00 - 10:00 am ET), is hosted by Gary Williams. Before joining Mad Dog Radio, Williams hosted the morning drive show on WFNZ Radio in Charlotte. He is also the play-by-play voice for preseason games on the Carolina Panthers Television Network and from 2005-06 was the host of the pre-game, halftime and post-game shows on the Charlotte Bobcats Television Network. He has been the play-by-play broadcaster for Big East basketball games on ESPN and has called college basketball and college football games on C-Set TV. From 2002-03 he hosted the college basketball show Gameday on ESPN Radio alongside Jay Bilas. Williams hosts the show from SIRIUS XM's New York City studios.

Occupying the mid-day weekday time slot (10:00am - 2:00pm ET) is The 'B' Team, hosted by Bruce Murray and Bill Pidto. Murray has been a SIRIUS host since 2006, hosting the SIRIUS NFL Radio talk show The Red Zone alongside NFL greats Marty Schottenheimer, Randy Cross, Carl Banks and Gil Brandt. Prior to joining SIRIUS XM, Bruce filled a variety of roles at Sporting News Radio, including headlining the Murray In The Morning show and co-hosting The Troy Aikman Football Show alongside the Hall of Famer and former Cowboys star. Murray also worked at ESPN Radio and Washington D.C.'s all-sports radio station, WTEM, and was part of the launch of WFAN in New York.

Pidto comes to SIRIUS XM after a 15 year on-air career at ESPN where he anchored several shows including SportsCenter, Baseball Tonight, NFL PrimeTime and others. Prior to ESPN he worked as a sports anchor and reporter at New England Cable News in Boston, MA, and as a sportscaster at the NBC-TV affiliate in Syracuse, NY and the CBS-TV affiliates in Harrisburg, PA and Binghampton, NY.

From 2:00 to 7:00 pm ET each weekday, Chris 'Mad Dog' Russo hosts his live show, Mad Dog Unleashed.

Immediately following Mad Dog Unleashed is The Dog House, airing live (7:00 - 8:00 pm ET) and hosted by a rotation of hosts that will include Mad Dog Radio update anchors Bill Lekas, Andrew Bogusch and others. The best four or five callers from each day's edition of Mad Dog Unleashed will be invited to co-host on The Dog House where, with the host moderating, they'll get a second chance to present their opinions to a nationwide audience.

Weeknights (8:00pm - 1:00am ET), Andy Gresh hosts The Gresh Show. The larger-than-life Gresh, 34, was an all-state high school football player and two-year starter on the offensive line at the University of Rhode Island. Prior to joining Mad Dog Radio, Gresh hosted the morning sports talk show on 'The Score' WSKO-AM in Providence, the nighttime show on SIRIUS NFL Radio and hosted weekends on ESPN Radio. Gresh is also a pre- and post-game analyst on the New England Patriots Radio Network and the color commentator for CAA Football on Comcast SportsNet.

Larry Krueger hosts the daily overnight show, Overtime, (1:00 - 6:00am ET). Before coming to Mad Dog Radio, Krueger worked at KNBR Radio in San Francisco, where he hosted a daily sports talk show and hosted the pre- and post-game shows for Giants and 49ers broadcasts. He has also hosted shows on the Sports Byline USA Radio Network, KGO Radio in San Francisco and KHTK Radio in Sacramento. Before starting his career in radio, Krueger worked for the Sacramento Gold Miners of the CFL as a defensive quality control assistant and then as a player personnel assistant for the Arizona Cardinals. Krueger lives in the Bay Area and will host the show each night from the west coast.

Krueger will also host a weekly program, The Weekend Playbook, Saturdays (10:00 am - 1:00 pm ET) on Mad Dog Radio.

Daily show hosts are joined on air twice an hour by update anchors Steve Torre, John Anthony and John Cloghessy, who will report on the latest breaking sports news of the day. The voice of Mad Dog Radio, introducing hosts and voicing channel promos, is RenaMarie Villano.

Chris Russo played a monumental role in popularizing the sports talk radio format across the country. Known to sports fans everywhere for his feisty, unflinchingly candid approach to talking sports and unrestrained, rapid-fire delivery that earned him the nickname "Mad Dog," he co-hosted for nearly 20 years on New York radio the hugely popular Mike and the Mad Dog radio show.

Visit www.sirius.com/maddogradio for more info on Mad Dog Radio plus sound and video clips from Mad Dog Unleashed.

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 18.9 million subscribers.

P-SIRI

    Contacts for SIRIUS XM Radio:

    Andrew FitzPatrick
    SIRIUS
    212.901.6693
    afitzpatrick@siriusradio.com

Del. Eleanor Holmes Norton (D-D.C.), U.S. Rep. Charlie Melancon (D-La.) to Be Featured on 'Inside Government'

2009-02-05T22:20:00.000+02:00

Impact of Wall Street Meltdown Also to be Discussed

WASHINGTON, Feb. 5 /PRNewswire-USNewswire/ -- This week the American Federation of Government Employees' "Inside Government" radio show will air special interviews with Del. Eleanor Holmes Norton (D-D.C.) and U.S. Rep. Charlie Melancon (D-La.) from President Barack Obama's inauguration. The show will air on Friday, Feb. 6 at 10:00 a.m. ET nationwide on Federal News Radio at www.federalnewsradio.com and 1500 AM in the Washington, D.C., area.

Norton will address such issues as D.C. voting rights, the Hatch Act, and contracting out, while Melancon will share his thoughts on the federal government's response to Hurricane Katrina and infrastructure improvements in the most needed areas. Christine Pelosi, Democratic strategist and author of "Campaign Boot Camp: Basic Training for Future Leaders," will discuss government's important role in today's society, as well as tips for aspiring public servants. Lastly, Robert Weiss, founder of Rights for America, will analyze the impact of the Wall Street meltdown and its effect on worker pensions.

For more information, please e-mail InsideGovernment@afge.org or go to www.federalnewsradio.com.

SIRIUS XM Radio to Launch Paul McCartney's Fireman Radio

2009-02-05T15:00:00.000+02:00

Fireman Radio to give listeners unprecedented access to Paul McCartney

McCartney to host weekly "fireside chats"

NEW YORK, Feb. 5 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) announced today that it will launch a limited-run channel devoted to the music of Paul McCartney, in celebration of his new critically-acclaimed album recorded under the guise of his alter ego, The Fireman. Paul McCartney's Fireman Radio will premiere on Valentine's Day, February 14 and will air through Friday, March 13 on The Bridge, SIRIUS channel 33 and XM channel 27. The channel will feature a rare in-depth and revealing interview with Paul McCartney. During the interview, the legendary artist will share his inspiration behind his secret Fireman projects.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )

Paul McCartney's Fireman Radio is an exclusive commercial-free channel, completely devoted to McCartney's legendary and expansive post-Beatles music-making and will include music from his solo records, tracks from every Wings album, the three Fireman albums, 1993's Strawberries Oceans Ships Forest, 1998's Rushes and 2008's Electric Arguments as well as musical surprises from Paul's vault.

Additionally, every week, McCartney will host a special "fireside chat" where he will discuss music, politics, news and any other topic he feels compelled to discuss.

McCartney, on Fireman Radio, will take SIRIUS XM listeners on an in-depth exploration of each song from The Fireman's latest album, Electric Arguments. He will speak candidly and openly about every track and will shed new light on this acclaimed music project, which for years has been shrouded in secrecy. On Paul McCartney's Fireman Radio, McCartney will pull back the curtain to reveal the creative process behind The Fireman. Never before has McCartney shared so many personal insights into this fascinating chapter in his musical legacy.

"Paul McCartney's Fireman Radio allows all of us the privilege to hear a revealing side of one of the world's biggest artists, sharing his work in a way that is unprecedented in its scale, unduplicated in its intimacy, and completely unique to SIRIUS XM," said Scott Greenstein, President and Chief Content Officer, SIRIUS XM Radio.

It has been ten years since McCartney and Youth, the bassist in British post-punk rock band Killing Joke and a respected producer, have collaborated on their experimental side project, The Fireman. In November of 2008, The Fireman released their third album, Electric Arguments.

For more information, please visit www.sirius.com or www.xmradio.com

About SIRIUS XM Radio

SIRIUS XM Radio is America's satellite radio company delivering commercial-free music channels, premier sports, news, talk, entertainment, traffic and weather, to more than 18.9 million subscribers.

P-SIRI

    Contacts for SIRIUS XM Radio:

    Samantha Bowman
    SIRIUS
    212 901 6644
    sbowman@siriusradio.com

SpongeTech(R) Delivery Systems, Inc. CEO Interviewed Live on Steve Crowley's American Scene Radio Show

2009-02-05T13:45:00.000+02:00

NEW YORK, Feb. 5 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. America's Cleaning Company(TM) (OTC Bulletin Board: SPNG) is pleased to announce that its CEO and President, Michael Metter, will be interviewed live today on Steve Crowley's American Scene Radio Show at 9:24 a.m. EST. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, www.businesstalkradio.net. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.

For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetech.com.

About SpongeTech(R) Delivery Systems, Inc.

    Contact:
    SpongeTech(R) Delivery Systems, Inc.
    Investor Relations:
    Bill Young, 1-877-776-6438
    wayoung55@aol.com or info@spongetech.com

NBA All-Star Official Playboy Magazine March 2009 Issue Release Party

2009-02-04T20:31:00.000+02:00

PHOENIX, Feb. 4 /PRNewswire/ -- Live Presents and 101.5 JamZ are proud to present the All-Star Official Playboy Magazine March 2009 Issue Release Party, hosted by 2007 Playmate of the Year Sara Underwood, Miss March 2009 Jennifer Pershing and four of their Playmate friends. Super Snake from 101.5 JamZ will also be hosting the event. The All-Star Official Playboy Magazine March Issue Release Party will take place at Barcelona Nightclub on Friday, February 13th from 7:00pm until 2:00am.

This All-Star weekend, Barcelona Nightclub will be the place to party and mingle with your favorite Playmates. With 30,000 square feet of bar and dance floor space, a spacious heated patio and newly renovated VIP lounges, Club Barcelona is the hottest nightclub Scottsdale has to offer. Barcelona was voted "Best Nightclub" by Scottsdale Magazine Readers in July 2007.

The March 2009 issue will be released at the event and will be available for autographing by Miss March 2009, Jennifer Pershing, before they hit the stands. The first one hundred people to buy tickets will receive a complimentary March Playboy issue. Sara Underwood, Playboy's 2007 Playmate of the Year, will also be taking pictures. Underwood has appeared in Blockbuster comedy hits such as Epic Movie, House Bunny and will be in Fox Searchlights new movie "Miss March."

The All-Star Official Playboy Magazine March 2009 Issue Release Party is sure to be one of the hottest tickets in town. Expected to attend will be some of the biggest celebrities in the world including NBA, NFL and MLB players, major motion picture stars and the recording industry's biggest artists. Other Playmates attending include: Pilar Lastra, Miss August 2004, Qiana Chase, Miss July 2005, Tiffany Selby, Miss July 2007, and Kayla Collins, MissAugust 2008.

There are a limited number of tickets that will be available to the general public. Tickets can be purchased at www.allstarpresents.com or call toll free (866)-448-1928 to purchase by phone. General admission tickets are $75 and VIP tickets are $200. This will be a celebrity star studded event and it will sell out so buy your tickets now. Barcelona Nightclub is located at 15440 N Greenway Hayden Loop, Scottsdale, AZ 85260.

For more information on All-Star Official Playboy Magazine March 2009 Issue Release Party please email Jeremy@livepresents,com or call Jeremy Ostermiller at 303-695-7039.

AdEx Media Expands Pay Per Performance Model into Radio Distribution

2009-02-04T19:37:00.000+02:00

MOUNTAIN VIEW, Calif., & BOULDER, Colo., Feb. 4 /PRNewswire-FirstCall/ -- AdEx Media, Inc. (OTC Bulletin Board: ADXM), a leading performance driven online marketing, distribution, and consumer products company, today announced the launch of its Digital Instructor consumer product line into national radio distribution.

"We are excited to expand our model into traditional advertising distribution channels, beginning with our Digital Instructor consumer products", commented Scott Rewick, AdEx's CEO. "AdEx will be advertising through national radio distribution on a Per Inquiry (PI) basis, which allows us to extend our pay for performance based advertising budget across legacy platforms."

Starting with Overnight Genius, Rising Star Leaning, and Debt Snap, some of AdEx's most popular titles, AdEx expects to expand the product offering over a large base of radio stations over time. "Our approach has always been that if we can measure it, we want to be there. Radio for us is a natural extension of our extensive online media buying platform", said Scott Rewick.

AdEx Media has teamed up with Debut Broadcasting (OTCBB: DBTB), a leading media and entertainment company, to distribute its consumer products via the radio marketing channel.

Steven Ludwig, CEO of Debut Broadcasting added, "By working with AdEx to provide flexible campaign structures built around high-quality products with premium revenue opportunities addressing needs that, in some cases, are quite urgent, we feel the time is right for the 'pay-for-performance' model."

AdEx plans to leverage its recently launched Think technology platform to provide the tracking of each consumer product sale back to the individual radio station that sourced the lead.

About AdEx Media, Inc.

AdEx is an integrated Internet marketing and lead generation publisher and developer, manufacturer, and marketer of consumer products with a focus on both marketing and distributing its own products and offering advertising customers a multi-channel Internet advertising network and broader solutions for direct advertisers and agencies. AdEx's marketing platform provides a range of services including (i) search marketing; (ii) display marketing; (iii) lead generation; and (iv) affiliate marketing. AdEx currently sells its own suite of consumer products which include: (i) Overnight Genius - a comprehensive computer learning course mastering MS Windows, MS Office, eBay, and others; (ii) Rising Star Learning - a math and language arts educational product for children; (iii) Debt Snap - an audio seminar designed to help consumers manage their debt and restore credit standing; (iv) Lucky At Love - a relationship strategy product; and (v) EasyWhite Labs - a teeth whitening kit. The company offers advertisers a compelling value proposition by offering true pay-per-performance pricing, commonly known as cost-per-action (CPA) or pay-per-action (PPA).

For more information about AdEx Media, visit http://www.AdEx.com.

About Debut Broadcasting Corporation, Inc.

A media and entertainment company, Debut Broadcasting Corporation, Inc. (OTCBB: DBTB - News) supports its clients throughout North America while also improving shareholder value through targeted turnaround opportunities in the southeastern United States. Through its entertainment arm, Impact Radio Networks, Debut sells pre-recorded radio programs and related services to more than 1,400 AM and FM stations in the U.S. and Canada, and reaches more than 45 million listeners per week, making it one of the leading syndicators in the industry. The company also provides marketing, consulting and media buying for its radio broadcast stations. Through its media division, Debut identifies and acquires (or manages) underperforming and undervalued media properties in the southeastern U.S. For more information about Debut Broadcasting, please visit www.debutbroadcasting.com or email ir@debutbroadcasting.com.

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.

    Investor Contact:
    Aimee Boutcher
    Boutcher & Boutcher
    (973) 239-2878

4th Annual 'Jazz In The Gardens' Hosted by Tom Joyner March 28 & 29, 2009, at Dolphin Stadium

2009-02-04T17:00:00.000+02:00

MIAMI GARDENS, Fla., Feb. 4 /PRNewswire/ -- The City of Miami Gardens announces the star-studded lineup for the 4th Annual "Jazz in the Gardens" hosted by #1 rated, nationally syndicated radio personality Tom Joyner, taking place on Saturday, March 28th and Sunday, March 29th at Dolphin Stadium, 2269 Dan Marino Blvd, Miami Gardens, Florida 33056.

Confirmed artists include the dynamic and popular Maze featuring Frankie Beverly; soul singing sensation, Anthony Hamilton; renowned Grammy award-winning saxophonist, Kenny G; hip-hop emcee and actor, Common; Grammy-winning soul singer and writer, Erykah Badu; R&B singer and songwriter, Kenneth "Babyface" Edmonds; smooth and sexy, Will Downing; funk, soul and old school jazz composer, Roy Ayers; West-African-born and critically acclaimed jazz vocalist, Angelique Kidjo; and two-time Grammy-nominated songwriter, guitarist and producer, Jonathan Butler.

"Four years ago, we were just another jazz festival, now it is really amazing to know that nationally and internationally, we are a well-known and respected music festival. 'Jazz in the Gardens' has become an economic resource; infusing a new stream of revenue into the South Florida area; creating business opportunities for local businesses and sponsors; and driving tourists into South Florida and the local community. In 2009 we will exceed our past attendance records and continue to make Miami Gardens the winter-break destination for adults," says Mayor Shirley Gibson.

With attendance doubling each year, "Jazz in the Gardens" is one of the top cultural events in South Florida and across the country. The jazz festival is a diverse mix of music genres that range from Jazz, R&B, Caribbean and African sounds. "Jazz in the Gardens" is an exciting multi-cultural event that has something to offer all music aficionados. With an expected turnout of 30,000, it is positioned to break its own attendance record yet again.

Tickets are on sale now, available through the Dolphin Stadium Box office, www.jazzinthegardens.com or www.ticketmaster.com. For additional information about "Jazz in the Gardens" 2009 visit www.jazzinthegardens.com or contact the City of Miami Gardens (305.622.8043). For media inquiries contact Circle of One Marketing (305.576.3790). Artists' photos and interviews are available upon request.

Modavox Releases Unique Visitors Statistics for Its Stream Syndicate Advertising Platform

2009-02-03T16:28:00.000+02:00

Company's January 2009 Unique Visitor Count within the Modavox Advertising Network is in Excess of 15 Million

PHOENIX, Feb. 3 /PRNewswire-FirstCall/ -- Modavox, Inc. (OTC Bulletin Board: MDVX), Internet broadcasting pioneer and holder of several patented technologies, today announced that as of January 2009, the Company had an excess of 15 million unique visitors to the Company's patented advertising platform called the Stream Syndicate.

Stream Syndicate(TM) the Company's new advertising platform, adopted by customers including WTVG (ABC O&O) Toledo, Quincy Newspapers with thirteen ABC, CBS, NBC television affiliates and two newspaper operations, Village Voice Media with thirty five community newspapers including well known New Times and Village Voice publications, and Gannet's Arizona Daily Star and Tucson Citizen, Black Hills Pioneer's South Dakota News Network, and West Virginia Media's network television affiliates are amongst others that contributed to the significant growth reaching over 15 million unique visitors as of Jan 31, 2009.

Nathaniel T. Bradley, Chief Technology Officer for Modavox stated, "The growth in unique visitors to our advertising platform confirms that we have a solid infrastructure to build from. Our figures indicate that in 2006, we had approximately 500,000 monthly average unique visitors while in 2007, we had roughly 2.2 million. To see our unique visitor count top 15 million is clearly very encouraging considering some of the larger sites that we have only recently begun to support within our advertising platform."

David J. Ide, Chief Executive Officer for Modavox stated, "In this day and age where online advertisers are seeking to increase their return on investment for their online ad spending through means such as targeted advertising, it's important to note that not only do we have a patented advertising platform that provides exclusive targeting, but we have also positioned it within the marketplace to provide industry leading features, simple fixed pricing, and an overall more for less value proposition. This growth in unique visitors to our advertising platform represents tangible progress in terms of our focused effort on the growth of our advertising production, hosting and delivery business. Lastly, considering the multitude of completed acquisitions in the space that could serve as potential comparables for valuing unique visitors, we are lead to believe that continued growth in our own audience will compliment our on-going efforts toward building sustainable long term shareholder value."

About Modavox

Modavox, Inc., the customized communications company, is a pioneer in Internet broadcasting, producing and syndicating online audio and video, offering innovative, effective, and comprehensive online tools for reaching targeted niche communities worldwide. Through patented Modavox technology, Modavox delivers content straight to desktops and Internet-enabled devices. Modavox provides managed access for live and on-demand Internet radio broadcasting, e-learning and rich media advertising. For more information, please visit www.modavox.com.

Forward-Looking Statements

This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to various risks and uncertainties that could cause Modavox's actual results to differ materially from those currently anticipated, including the risk factors identified in Modavox's most recent 10-K filing and subsequent 10-Q filings as well as other filings with the Securities and Exchange Commission.

    Investors
    C&H Capital, Inc.
    Jason Assad
    (678) 570-6791

Scripps to Report Fourth-Quarter Results; Webcast of Conference Call Available

2009-02-03T15:23:00.000+02:00

CINCINNATI, Feb. 3 /PRNewswire-FirstCall/ -- The E.W. Scripps Company (NYSE: SSP) will report fourth quarter 2008 operating results before New York Stock Exchange trading begins on Thursday, Feb. 19. A telephone conference call with members of the company's senior management team will follow at 9 a.m. EST.

Scripps will offer a live webcast of the conference call. To access the webcast, visit www.scripps.com and follow the "investor relations" link at the top of the page. The webcast link can be found under the "upcoming events" heading on the "investor relations" landing page.

To access the conference call by telephone, dial 1-800-230-1074 (U.S.) or 1-612-332-0107 (international) approximately 10 minutes before the start of the call. Callers will need the name of the call ("fourth quarter earnings report") to be granted access. Callers also will be asked to provide their name and company affiliation. The media and general public are granted access to the conference call on a listen-only basis.

A replay of the conference call will be archived and available online for an extended period of time following the call. To access the audio replay, visit www.scripps.com approximately four hours after the call, choose "investor relations," then follow the "audio archives" link on the left side of the page.

About Scripps

SpongeTech(R) Delivery Systems, Inc. CEO Interviewed Live on Steve Crowley's American Scene Radio Show

2009-02-03T13:51:00.000+02:00

SpongeTech(R)'s CEO Interview Aired Today on American Scene Radio Show

NEW YORK, Feb. 3 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. America's Cleaning Company(TM) (OTC Bulletin Board: SPNG) is pleased to announce that its CEO and President, Michael Metter, will be interviewed live today on Steve Crowley's American Scene Radio Show at 9:24 a.m. EST. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, www.businesstalkradio.net. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.

For more information, please contact Investor Relations at 1-877- SPONGE-T, and/or visit the Company's website at: www.spongetech.com.

About SpongeTech(R) Delivery Systems, Inc.

    Contact:
    SpongeTech(R) Delivery Systems, Inc.
    Investor Relations:
    Bill Young, 1-877-776-6438
    wayoung55@aol.com or info@spongetech.com

Destiny Media and Warner Music Group Announce Global Distribution Agreement

2009-02-03T05:05:00.000+02:00

NEW YORK, Feb. 3 /PRNewswire-FirstCall/ -- Warner Music Group (NYSE: WMG) and Destiny Media today announced a global agreement to distribute promotional audio and video content from WMG's award-winning roster of artists using Destiny Media's Play MPE digital media distribution service. Effective immediately, WMG will work with Destiny Media to deliver selected content for pre-release distribution to radio stations, retailers, journalists and other business partners.

The player will offer an array of access permissions and player options, such as digital downloads, streams and varying degrees of interactivity that will improve the user experience.

"We are very pleased that Warner Music Group has chosen the global network Play MPE(R) to securely deliver pre-release music and video. Play MPE(R) will allow Warner to streamline this business processes, reduce costs, and to securely deliver superior quality music instantly to customers around the world," said Steve Vestergaard, CEO Destiny Media.

"Given Destiny Media's reach and the size of its distribution network, we are looking forward to working with them on delivering our content securely over their Play MPE system while offering our partners a more powerful and customized method of experiencing our music," said Pat Kraus, Vice President, Digital Operations and Engineering, WEA Corps, WMG's US sales and retail marketing company.

About Destiny Media

Play MPE(R) (http://www.plaympe.com) is a product of Destiny Software Productions (OTC Bulletin Board: DSNY). With over 25,000 users and over 114,000 songs from more than 1,000 record labels, including Universal Music Group, EMI Music Group, Sony BMG and Warner Music Group, Destiny's Play MPE(R) system is the most widely used digital distribution system available to the recording and radio industries. Play MPE(R) is a secure distribution system that features state-of-the-art encryption to protect content while delivering high definition audio to users in radio, marketing and media. A powerful promotional tool, Play MPE(R) also allows record companies to distribute video, text and graphics including music videos, CD covers, credits, lyrics, promotions, and other content. More information on Play MPE(R) can be found at www.plaympe.com

About Warner Music Group

Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide.

    Media Contacts:
    Amanda Collins
    Warner Music Group
    212/275-2213
    Amanda.Collins@wmg.com

    Steve Vestergaard,
    604/609-7736 ext 222
    Steve@dsny.com

Warner Music Group Announces Global Distribution Agreement With Destiny Media

2009-02-02T22:22:00.000+02:00

Play MPE(R) Digital Distribution System to be Used to Distribute Music to Radio Securely through the Internet

VANCOUVER, British Columbia, Feb. 2 /PRNewswire-FirstCall/ -- Destiny Media Technologies (OTC Bulletin Board: DSNY), the global leader in the secure distribution of pre-release music to radio and provider of instant play streaming media, is pleased to announce that Warner Music Group (NYSE: WMG) has announced an agreement to deliver selected content for pre-release distribution to radio stations, retailers, journalists and other business partners.

The full text of the release is available on Warner Music Groups' corporate site.

http://www.wmg.com/news/article/?id=8a0af8121ed15127011f38853e853d0e

About Destiny Media Technologies

Destiny (www.dsny.com) is a software development company which provides secure distribution and instant play streaming media tools that some of the world's largest media companies use to distribute their content on the Internet. Products include Play MPE(R), Clipstream(R) and Radio Destiny(TM).

Safe Harbor Statement

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Steve Vestergaard

CEO Destiny Media Technologies, Inc.

604 609 7736 x222