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artmorris
Administrator
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Posted: Mon Oct 12th, 2009 01:49 am |
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Rumor - Rumor - Rumor- Rumor.......
I keep hearing a rumor that KTTS et al might on the block. I have no confirmation, only rumors.
Anybody anything concrete on this topic? I know that Journal has had some down quarters, and they HAVE sold some properties out west.
But, why (if there's ANY truth to the rumor) would they sell the Springfield cluster, and (more importantly) WHO would be interested? it's got to be a high dollar property. Who's buying high dollar properties right now?
It's a RUMOR, until somebody comes up with something more definitive.
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morrisjames
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Posted: Tue Oct 13th, 2009 11:40 am |
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| My guess would be they are trying to dump at least 1260 and possibly the two low powered fm's. again, who would want them. you are right. their only big money makers and I use the term loosely appear to be K-T and power.
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AMman
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Posted: Tue Oct 13th, 2009 02:00 pm |
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| With the FCC Diversity Czar on the job allot of stations will be for sale on the cheap. If you wanted to sell now is the time.
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morrisjames
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Posted: Wed Oct 14th, 2009 01:30 am |
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| I detect a little note of racism in that previous reply. almost like a rush limbaugh pro football statement. the wealthy who own stations now aren't so wealthy from radio any more and they are looking to shed assets. wow, what if a few stations wound up in the hands of common folk who are looking to provide real community radio. it wouldn't be new but it certainly would be a shift from what we have seen over the past eight or nine years.
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Jamie Turner
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Posted: Wed Oct 14th, 2009 02:12 am |
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| Without diversity we become slanted.
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TommyT
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Posted: Wed Oct 14th, 2009 12:28 pm |
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morrisjames wrote: I detect a little note of racism in that previous reply.
Your correct Mark Lloyd is a racist and a Statist.
Attachment: justice_brothers.jpg (Downloaded 47 times)
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MediaMogul
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Posted: Wed Oct 14th, 2009 04:01 pm |
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It would be nice to see local ownership purchase the Journal stations. Somebody who could at least make strides in bringing back the heritage that made KTTS what it was not too many years ago.
My guess is that depending on cash flow... other clusters in similar markets are going for WAY less than what the Clear Channels and the Journals of the world paid for them a couple of years back.
Am I crazy for thinking $8 - $10 Million would get the whole cluster???
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XGM
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Posted: Wed Oct 14th, 2009 04:14 pm |
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| Journal bought the Great Empire group in Springfield, Omaha, Wichita,and Tulsa for 96 million $'s...that figures out about $20 million for Springfield, that was in 1999. For 3 stations KT am & fm and KMAX 96.5
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MediaMogul
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Posted: Wed Oct 14th, 2009 04:38 pm |
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There have been a lot of other radio station sales that have shocked me (mainly involving Clear Channel) where a cash offer has gotten the stations off their hands for so much less.
One that comes to mind is the Clear Channel/Jonesboro, AR cluster. The entities involved sold their stations to CC for a combined $27,000,000 back around 1999-2000. In 2007, those same five stations sold to Bobby Caldwell's East Arkansas Broadcasters for $5,000,000.
There have been a number of other "fire sale" situations that Clear Channel has done that have left people going, "Do what?!?". Now even some of those buyers are feeling the pinch. Just Monday it was announced that Gap Broadcasting had sold it's five station Midland-Odessa (Market 184) cluster to local ownership for just $3,000,000.
I don't know if Journal is as desperate to get rid of these stations as Clear Channel and it's successors have been, but I would just have to think in this economy that someone could take advantage of some DEEP discounts in comparison to the exorbitant sounding prices that were paid at the beginning of this decade.
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TommyT
Member
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Posted: Wed Oct 14th, 2009 06:00 pm |
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| If they can get 8 - 10 they should take it and run there is nothing in the near future that looks good for business overall much less radio. The bad economy and more FCC regulations coming up will keep many from getting in the radio business. Last edited on Wed Oct 14th, 2009 06:01 pm by TommyT
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morrisjames
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Posted: Thu Oct 15th, 2009 10:59 am |
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| A possible clue of the future. Journal Broadcast God Doug Kiel resigns to start his own company!
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AMman
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Posted: Thu Oct 15th, 2009 02:46 pm |
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morrisjames wrote: I detect a little note of racism in that previous reply. almost like a rush limbaugh pro football statement. the wealthy who own stations now aren't so wealthy from radio any more and they are looking to shed assets. wow, what if a few stations wound up in the hands of common folk who are looking to provide real community radio. it wouldn't be new but it certainly would be a shift from what we have seen over the past eight or nine years.
Racism? If the so called common folk get a radio station it should be gained from the free market not a government take over. This administration has many people in it that want a government take over in many if not all free markets not just radio. Its that hope a change thing.
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