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WYAY -- purchased by EMF from Cumulus

AMRocks

AMRocks

All Access:

EDUCATIONAL MEDIA FOUNDATION is buying Hot AC WPLJ/NEW YORK, News-Talk WYAY/ATLANTA, Hot AC WRQX (MIX 107.3)/WASHINGTON, Triple A KFFG/LOS ALTOS-SAN JOSE, Hot AC WZAT (102.1 THE SOUND)/SAVANNAH, and Classic Rock WXTL (THE REBEL 105.9)/SYRACUSE from CUMULUS MEDIA INC. for $103.5 million.
 
Cumulus apparently needs money. A couple of the stations being sold really shock me, WRQX and WPLJ.

WRQX is doing really well in ratings. WPLJ is struggling in terms of ratings but is a major New York signal.

The price seems really low, but EMF has been buying in a down market for radio stations. Say hello to K-Love.
 
I’m kinda surprised that Cumulus is selling stations piecemeal in these markets. But I guess that answers the long-running question about the future of 106.7.

I remember just a few years back that WRQX was a top five biller in DC. What a wreck Cumulus did there.
 
WRQX has rebounded under PD Rob Roberts. David Dickey ridiculously fired the morning man, Jack Diamond, and the station consequently collapsed. But after Dickey left Cumulus, Mike McVay brought back the morning show.
 
KLove pays based on population in the Grade A 60 dBu contour. WYAY totals approximately 4,180,000. If they really want a market they will go up to $3 per person so $12,540,000 is the estimated value of WYAY. I think it will become one of their strongest stations. Look how well WFSH is doing in the ratings and WYAY has a better signal. I've been told they like being in the southeast as their listeners give more per person down here than other areas of the nation.
 
Not sure about K-Love and the music they play. Would they be a direct competitor to Fish and/or Joy?

...and that's a lot of people out of work at the Talk station
 
I am just impressed over the markets that now have access to my favorite music. Atlanta is well served with 104.7 and 93.3 so maybe they will swap 106.7 to someone else for another signal but being a top 10 market, I assume K-Love will be on 106.7fm this summer. I use to enjoy Y 106 as a youth and the time 106.7 did all news and still have a interest in Kim Petersons show at times. I was disappointed that K Love's sister Air 1 network gave up the hot ac format for worship but I'm sure it will be more listener supported. I wonder how Salem will respond, they use to be live and local but they don't do that a lot now so I guess K love 106.7 wont be much different. But my question is can two Christian AC stations broadcast from the same transmitter and two major Christian radio station owners agree to continue sharing the tower. More details are sure to come.
 
Really stunned by the sale of Mix 107.3 in D.C.

In New York, I'm surprised they sold 95.5 to EMF over 94.7. Cumulus is really left with pile of dog doo in NYC now. In Washington, they'll be down to one station (WMAL AM & FM). Given the fact 630 recently downgraded, I have a hard time picturing Cumulus breaking-up the simulcast to open up 105.9 MHz for WRQX's programming, but one never knows...
 
Oops; I now see 94.7 Nash FM in New York is actually being traded to Entercom. That explains that. :)

I'm saddened by the number of people who will be losing jobs. I sure hope the WRQX programming finds a new home, but I'm not holding out any hope. More likely, Cumulus will deal WMAL AM & FM and exit Washington completely.

Prediction - look for Cumulus to eventually do a deal to unload its remaining ATL stations. I predict it'll happen this year.
 
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Considering Dallas and Houston have strong local Christian ACs like Atlanta, could EMF put sister Air 1 network on 106.7fm instead. I know the Air 1 signals in those two markets are worse rim shots than 106.7 is so I still believe K love will be the network of choice.
 
ThePowerCow said:
Will the Braves look for another FM, or are they happy with just the 93.7 translator?
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I would think they would prefer a full market FM. Or at least a couple of rim shots to approximate a full market FM. But they are probably stuck with whatever Cumulus offers for this season.


RadioDoogie said:
Does EMF only have Christian formatted stations?
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Correct. They are the owners of K-Love, Air 1 and K-Love Classics
 
Re:

I would like to rescind my earlier prediction.

I now see that the stations Cumulus divested are all cash flow laggards. Only $5 million to $7 million in annual EBITDA generation between all of them! I think they were cherry picking the losers and dumping them. How could they not? They received a massive 16x - 20x EBITDA multiple for those stations.

They still have three full power FM stations in the ATL - which are likely performing OK from a cash flow standpoint. Q99.7 is probably performing better than OK.

Instead, I think Cumulus will look to unload its remaining stations in Washington, its two pathetic remnants in NYC (WNBM & WABC), and unless Cumulus can amass additional stations in L.A. & Detroit - I'm guessing it'll look to exit those two markets as well (especially Los Angeles, where the company is at a major competitive disadvantage). I mention Detroit only because there is room for further consolidation in that market, and an existing owner with a strong trio of stations (Beasley) has room under FCC ownership caps to acquire all three Cumulus stations there if it so chooses.

Houston is another market that comes to mind, but 104.1 KRBE likely generates a nice chunk of free cash flow for Cumulus. I'm having a tougher time picturing them unloading that station. They would need to get a very attractive offer for that station. K-Love does lack a full market signal in Houston. Would they be willing to pay, say, $50 million for KRBE? I'm guessing not when one considers how little EMF paid for Chicago's WLUP, for example. Heck, they only paid about that much for 100.3 in Los Angeles, and Metro L.A. has double the population of Metro Houston.
 
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