As of today. La Mega 105.7/1310 has been officially sold to some company from florida
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It's official.......
- Thread starter Radiolover971
- Start date
They were asking 3 million, right? Would love to know the closing price.
T
Tylerbreeze
Guest
Confirmed, I heard about it yesterday, Oldies coming very soon....
Why would anyone buy a very inferior technical facility which only has value based on its current and cash flowing format to change it to a format that has enormous sales difficulties and which would flush instantly all the business they have on the air?
What happen when you go to lamegaphilly.com hmmmm?
That's not their official website. http://www.lamega1310am.com/ is. Looks like LaMegaPhilly.com was registered by the El Zol camp to get those who don't pay attention to what the real Mega website is.
I know that. What I'm trying to say is they are going to take la mega name
No, they are not. The spoof site is just a competitor playing mind games.
It takes to their competitor site.... So? Typical business tactic to get distracted fish to their water.
BTW I can't figure out how an oldies station in a small AM and a translator will work in a big city like Philly.
In other threads David Eduardo said that a news/talk/ variety/ sports Spanish station wouldn't work in a city like Philly, but how about a brokered religious spanish station? Or even Reg. Mex. Don't really know how many "manitos" around Philly. Just thinking out loud.
It will continue being la mega...new owners have no intentions of changing....mega is a heritage station, and for a 1,000 watts station they don't do that bad. They still manage to bill close to 2 million a year. The only thing that might change is management and maybe they will have new talents, but it will continue as Mega.
Supposedly they billed $2.15 million last year. If the price is anywhere in the range of what was asked, that means a cash flow of around $600 k to $800 k at todays multiples.
They have a manager with lots of Hispanic market and radio experience. I would not change a thing.
How do you know?
Few low power AM stations are billing over $2 million with good cash flow. So the station likely got close to its asking price. That prices would not be based on the facility but on the established format, sales and profit history. Without that format, the station is close to worthless. Example: WHAT sold a couple of years ago for $475 k. That is strictly a stick value as it had no cash flow.
If this statement is true I wouldn't even play with the idea of changing something.
Does anyone knows who are the new owners?
Update: Mega will stay the same. An Italian just bought the station!
Goodbye Mega Very Soon. They'll be moving to Cherry Hill, NJ in September!
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