MediaCo Holding Inc. Announces Chris Squire as Senior Vice President of Sales and Marketing for HOT 97 and WBLS
New York-based MediaCo Holding Inc. (NASDAQ: MDIA) sent shockwaves through the media industry with its recent announcement of Chris Squire as the new Senior Vice President of Sales and Marketing for HOT 97 and WBLS. The appointment, effective from January 2, 2024, is set to bring a new wave of expertise and experience to the broadcasting company.
Squire, formerly the Senior Vice President of Sales at iHeartMedia in Philadelphia, brings with him an impressive track record spanning over three years. His extensive knowledge and deep understanding of the industry are expected to fuel MediaCo’s growth and drive the success of its radio stations.
Kudjo Sogadzi, MediaCo’s Interim President and Chief Operating Officer, expressed his confidence in Squire’s capabilities, stating, With Chris’s extensive experience and deep understanding… While Sogadzi highlighted Squire’s potential to elevate the company’s sales and marketing efforts, it remains to be seen how this high-profile appointment will shape MediaCo’s future.
Despite the positive news surrounding Squire’s appointment, MediaCo Holding Inc. has experienced a decline in its net income. However, the company’s return on average invested assets (ROI) of 37.39% during the third quarter of 2023 is a significant improvement compared to its average return on investment of -1.48%. This indicates a potential turnaround for the company, as it has managed to increase its ROI compared to the second quarter of 2023.
Within the Services sector, MediaCo Holding Inc. still lags behind 15 other companies that have achieved a higher return on investment. However, the company’s overall ranking in terms of ROI has shown progress. In the third quarter of 2023, MediaCo’s total ROI ranking improved to 126, up from 3603 in the previous quarter.
As MediaCo Holding Inc. enters a new phase with Chris Squire at the helm of sales and marketing for HOT 97 and WBLS, all eyes will be on the company’s performance in the coming months. Investors will closely monitor whether Squire’s appointment and his expertise in the field can help the company continue its upward trajectory and regain its financial strength.
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