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Audacy Deals Imminent In Phoenix

T

TheBigA

According to this, Audacy has some asset deals imminent in Phoenix.

www.insideradio.com

With Deals In Boston And Phoenix Imminent, Audacy Says It’s Still Talking To Lenders.

Audacy says it remains in compliance with the agreements it has signed with lenders, but looking ahead to the coming year radio’s second-biggest group remains doubtful that it will be
www.insideradio.com www.insideradio.com

The company did not close what it is selling, but said it includes land, buildings, and equipment. Instead, it simply said it expects the deal to close within a year.
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It doesn't specifically say station sales. It could just be tower land. But the three-station cluster was on the block when it was owned by CBS. So a sale of the whole thing wouldn't be a surprise.
 
This is a big nothing burger misconstrued by a publication owned by a competitor to get this response... AUDACY IS NOT SELLING STATIONS IN BOSTON OR PHOENIX at this time...

The filing states:
"Company entered into letters of intent to sell certain assets located in Phoenix and Boston. The Company conducted an analysis and determined the assets met the criteria to be classified as held for sale at June 30, 2023. In aggregate, these assets have a carrying value of approximately $2.5 million. The transactions are expected to close within one year.

The major categories of these assets held for sale are as follows as of the dates indicated:
Land and land improvements$590
Building1,776
Equipment110
Radio broadcasting licenses—
Net assets held for sale2,476

As I reported back in February, the tower site of 850 WEEI in Needham was one of the original assets moved to Audacy Atlas LLC for divestiture. What Is Audacy’s Atlas? And Are Divestitures Coming? - RadioInsight
 
lanceventa said:
As I reported back in February, the tower site of 850 WEEI in Needham was one of the original assets moved to Audacy Atlas LLC for divestiture.
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But nothing in Phoenix was included. The stations are in leased office space, and the towers are on leased land on TV Road. No sellable assets except office furniture and computers. Maybe a sublease or space on the tower?
 
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TheBigA said:
But nothing in Phoenix was included. The stations are in leased office space, and the towers are on leased land on TV Road. No sellable assets except office furniture and computers. Maybe a sublease or space on the tower?
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Audacy owns its studio building in Phoenix.
 
If they wanted to move, that property could make them a lot of money. Believe it or not, it has housed a radio station since 1936 (it is the historic KOY studio which was comprehensively redone and expanded onto adjacent property in the 1970s; it wound up associated with the Audacy stations in the '90s thanks to Sundance buying KZON also, then Colfax buying KOOL...) When KOY moved to that area it was one of two radio stations in Phoenix (the other being KTAR).
 
TheBigA said:
Last time I was there, the roof leaked.
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Back when it was Sundance, someone abducted the promotions director in the parking lot (just outside the front door) because she looked like the girl in accounting who made the bank deposit. When they found out she wasn't the girl with the money bag, they made her drive to the ATM and pull out whatever was in her account and let her go.

Then someone tried stealing Mary McCann's truck in the parking lot; someone driving by pulled him out and held him down until the police came.

We also had someone try breaking a window to unsuccessfully steal a computer out of a PD's office over a weekend. Monitor wouldn't fit through the window. You could see the drops of blood from when the person fled.

My car was busted into at least 3 times. Also, before we got rid of the old Y-95 Master Cruiser, I had to evict a homeless family who broke in and was living in it. Everyone who worked nights and weekends was pretty skeeved out by the neighborhood and dealt with car break-ins. At one point in the 90s, management issued everyone The Club and a pepper spray canister.

It hasn't gotten any better in 25 years. I love history, but let it become a high rise already.
 
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TheBigA said:
But nothing in Phoenix was included. The stations are in leased office space, and the towers are on leased land on TV Road. No sellable assets except office furniture and computers. Maybe a sublease or space on the tower?
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That is an incorrect statement. The property at 840 N. Central is owned by Audacy, as is the tower on South Mt. of KALV and KOOL-FM. Certain spaces are leased for transmitters, however. The 840 property is worth >10M to the right developer. Oh my!
 
wattsup said:
That is an incorrect statement. The property at 840 N. Central is owned by Audacy, as is the tower on South Mt. of KALV and KOOL-FM. Certain spaces are leased for transmitters, however. The 840 property is worth >10M to the right developer. Oh my!
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Did you see post #6? It addressed all of that.
 
landtuna said:
Did the staff get combat pay? I didn't have that much trouble in Da Nang!
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Urban violence is all the more frightening than warfare as it hits people who are unaware and unprepared. I left Puerto Rico... which I loved deeply for its wonderful people... after two at-gunpoint hold-ups at traffic lights in early evening times and an attempt to pull my bedroom window out of its frame with car jacks while I was there.

(I had the metal window frames "wired" and all I did was turn that one on briefly. My neighbors said, "you should have left it on. We would have helped you dispose of the corpse." )
 
speer360 said:
One bad headline and it goes crazy.
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And that summarizes our fear of what can happen if a fake story hits multiple news and social media site. By volume, it acquires credibility.

"AI" should be "Artificial Information" as in many cases it hasn't even minimal vestiges of intelligence.
 
johndavis said:
It hasn't gotten any better in 25 years. I love history, but let it become a high rise already.
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Gonna have to disagree with you on this. Once ASU moved in, a lot changed in the neighborhood. The strip club/empty parking lot is now a park, the bail bonds place is long gone, there are plenty of restaurants all the way down to Washington, and walking down the street to grab lunch is not the "adventure" it was 20 years ago.

(caveat, I haven't been down there in a few years, but it is definitely better than what you described).
 
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