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no MORE FM

J

joshzz

I wonder how long it will be before MORE FM is sold. Is Jerry still running the station or has it been taken over by those holding his loan?

He did a great job running the station. It's sad that at some point soon it will be sold and at a fraction of what Jerry paid for it. Considering EMF bought 106.9 FM (38,000 watts) for about $ 20 million, I believe it will be difficult for it to go at a premium.
 
WBEZ is billing a HELL of a lot more than 106.9. So I'm sure it would sell for much more than the $20M EMF paid.
 
joshzz said:
I wonder how long it will be before MORE FM is sold. Is Jerry still running the station or has it been taken over by those holding his loan?

He did a great job running the station. It's sad that at some point soon it will be sold and at a fraction of what Jerry paid for it. Considering EMF bought 106.9 FM (38,000 watts) for about $ 20 million, I believe it will be difficult for it to go at a premium.
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WBEB leads the market in billings and likely has the highest margins, too.

My understanding is that part of the financing was done with his partner's family; in any case WBEB makes more than enough to meet debt service and to pay down the principal. Jerry already owned half the station and all he did was buy the other half; the ownership dates back to the early 60's.

EMF bought a stick, not one of America's most profitable radio stations.

At the higher end of the multiples, WBEB is likely worth around $90 million today.
 
DavidEduardo said:


WBEB leads the market in billings and likely has the highest margins, too.

My understanding is that part of the financing was done with his partner's family; in any case WBEB makes more than enough to meet debt service and to pay down the principal. Jerry already owned half the station and all he did was buy the other half; the ownership dates back to the early 60's.

EMF bought a stick, not one of America's most profitable radio stations.

At the higher end of the multiples, WBEB is likely worth around $90 million today.
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So since I didn't win the Mega Millions last night I won't be writing a check for 90 MIL.. To Jerry. But what format would work on 106.9 besides religion?
 
What defines work? I see that phrase tossed around often, and it seems rather subjective. Lots of things work; "work" needn't mean rivaling More FM's billings, nice as that may be, so long as a profit is being turned and ownership is sufficiently content. Is there a glaring hole right now? Doesn't seem like it.
 
Bob Eubanks said:
What defines work? I see that phrase tossed around often, and it seems rather subjective. Lots of things work; "work" needn't mean rivaling More FM's billings, nice as that may be, so long as a profit is being turned and ownership is sufficiently content. Is there a glaring hole right now? Doesn't seem like it.
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I just meant work for a profit. The conservative talk format didn't make a profit awhile back. Its 38,000 watts .. maybe sports, Comedy-Talk..local hosts maybe what would draw enough audience to make a decent profit. I don't know how the Religion is doing.
 
TGunn said:
But what format would work on 106.9 besides religion?
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Since WKVP is now reclassified as a non-commercial station and is getting fairly solid ratings, there is no reason to think about a change.

In the average of the January to March books, it ranked 19th in 12+ and did as well as 18th in 18-24, 25-34 and 35-44.
 
DavidEduardo said:


Since WKVP is now reclassified as a non-commercial station and is getting fairly solid ratings, there is no reason to think about a change.

In the average of the January to March books, it ranked 19th in 12+ and did as well as 18th in 18-24, 25-34 and 35-44.
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I wonder if these same were listening to the previous religious station with Harold Camping and the end of the world predictions.
 
Bob Eubanks said:
Kind of different flavors of religious programming, so I'd wager not a lot of overlap.
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Correct... the EMF contemporary Christian format is mostly 18-49 while the previous owner's preaching and teaching format appeals to a much older group in its majority.
 
The thing about EMF is that their stations are pretty highly rated in some places, especially in the south. I don't expect them to sell this station, regardless of the ratings. It's one of those stations where it's more about mission than money. But EMF has a lot of money too.
 
Ok, If 101.1 is estimated to be worth around the 90 million mark and 106.9 was sold for 20 million, how much would a station like 103.9 or 107.9 be worth today?
 
It ain't "EAZ" being an independent radio owner in a top 10 market in 2015...
 
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