I think you meant 21st
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SBS Buys KROI for $7.5 million
- Thread starter davideduardo
- Start date
Should be "21", not "1" so I corrected it. Typo.
It would also be a great second outlet for K-Love which would blanket all of SE Texas with a simulcast.
Also an excellent place for KHCB’s Spanish language service. They wouldn’t have to bother with the proposed 89.7 translator…and could get rid of 1400 and its 101.5 translator.
VCY is also sniffing around for new stations.
I used to beat the drum for one of the AM sportstalkers grabbing 92.1, but have given up on that.
I‘m giving the SBS deal for 92.1 a 65% chance of actually closing.
91.7 would be a nice simulcast partner for KJIC 90.5, giving the Christian Country format coverage in the northern half of the market. I doubt KJIC has the financial resources for that, so unlikely it would happen in the event of HMG acquiring 92.1 for Vida Unida.
I'm sure you meant KTHT 97.1. 91.7 does not cover the northern part of Houston.
D
Deleted member 108832
Guest
Actually it does, Chuck. Quite well. 91.7 reaches almost to Lake Livingston, courtesy of Michael Stude. Rice got a heck of a deal out of his desire to reach more of Houston proper with the then "K-Arts".
Chuck may be thinking of the pre-1990 91.7 signal, which ran only 680 watts from the Rice campus. The big upgrade paid for by Michael Stude greatly improved the station’s reach.
Current 91.7 coverage: KHVU-FM Radio Station Coverage Map
You're right.
The sale to SBS was just approved by the FCC this afternoon. We should learn if SBS will follow through with the purchase in light of their TV divestment falling through very shortly.
Perhaps this is how SBS will get the money to close on the KROI purchase: SBS Sues Voz Media Over Failed Mega TV Sale - RadioInsight
Meanwhile Praise continues as normal on 92.1. At least Sugarland Station Trust knows EMF has money in the bank to close the KTHT acquisition, which should happen any day now.
Meanwhile Praise continues as normal on 92.1. At least Sugarland Station Trust knows EMF has money in the bank to close the KTHT acquisition, which should happen any day now.
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So if SBS doesn’t purchase KROI will we see a RADIO ONE Sues SBS over failed KROI sale?
that would be funny not gonna lie
That would make for some interesting legal calisthenics, due to the intermediary divestiture trust actually now owning KROI.
Perhaps RO/SST wouldn’t bother with a lawsuit if they could do a quick deal with another buyer that has cash in hand…hello EMF or VCY. How much of a further sale price haircut RO would eat is anyone’s guess. Were I EMF I would offer $3.5M and settle for $4.5-$5M.
Inside Radio follows up on the SBS / Voz Media saga with SBS claiming there were lies and deception:
SBS Says Conspiracy, Deception, And A ‘Vulture’ Price For Mega TV Was Voz Media’s Gameplan.
Further details have been revealed in the SBS lawsuit against Voz Media over the terminated $64 million sale of Mega TV. The lawsuit alleges that after nearly a year of
Lawsuits like that could drag on for years. Doesn’t help SBS with the immediate need to close the KROI deal. Once again I see the dark feathered birds named EMF and VCY circling overhead.Inside Radio follows up on the SBS / Voz Media saga with SBS claiming there were lies and deception:
SBS Says Conspiracy, Deception, And A ‘Vulture’ Price For Mega TV Was Voz Media’s Gameplan.
Further details have been revealed in the SBS lawsuit against Voz Media over the terminated $64 million sale of Mega TV. The lawsuit alleges that after nearly a year ofwww.insideradio.com
Or a dark Cumulus cloud.
Now that the KTHT sale has closed, we can get back to the final piece of the overall Radio One/Cox deal: the sale of KROI to SBS.
The KROI sale was approved on 10/12, but has not closed. In the second amendment to the APA we have this:
The SBS TV sale was to Voz Media, which failed to close on the deal. SBS terminated the agreement, and is now suing Voz.
That 11/15 date is only two weeks away. Although in the eyes of the FCC they have until around January 12, 2024 to consummate the KROI deal (90 days is a standard window) I suspect a further amendment might be filed to extend the date set forth in the amended APA. Worth keeping an eye on.
How long will RO/SST wait until pulling the plug on the sale? They would likely have no trouble finding another buyer (EMF, VCY, maybe KHCB Spanish service?) but it is questionable whether they would get the $7.5M SBS had agreed to. Might come down to how much of a further haircut they want to take just to get KROI off their hands.
One can imagine SBS executives searching under sofa cushions and car seats for loose change...
The KROI sale was approved on 10/12, but has not closed. In the second amendment to the APA we have this:
The SBS TV sale was to Voz Media, which failed to close on the deal. SBS terminated the agreement, and is now suing Voz.
That 11/15 date is only two weeks away. Although in the eyes of the FCC they have until around January 12, 2024 to consummate the KROI deal (90 days is a standard window) I suspect a further amendment might be filed to extend the date set forth in the amended APA. Worth keeping an eye on.
How long will RO/SST wait until pulling the plug on the sale? They would likely have no trouble finding another buyer (EMF, VCY, maybe KHCB Spanish service?) but it is questionable whether they would get the $7.5M SBS had agreed to. Might come down to how much of a further haircut they want to take just to get KROI off their hands.
One can imagine SBS executives searching under sofa cushions and car seats for loose change...
SBS likely has the money and they can make it back. The deals in Florida weren't just about radio, it was about concerts as well. SBS runs Orlando spinoffs of the popular Guaya Guaya and Día Nacional de la Zalsa festivals from Puerto Rico.One can imagine SBS executives searching under sofa cushions and car seats for loose change...
We are now only one week away from the November 15 drop dead date for closing the KROI sale to SBS. Still keeping an eye out for another amendment to the APA extending that date to be filed with the FCC, but nothing yet. The FCC greenlit the deal on October 12.
Praise still going on 92.1. I’ve noticed that it has been a while since I‘ve heard any of the 60 second “We’re moving!” redirect promos run on the station. Perhaps they realize the deal might not close anytime soon, and don’t want to further confuse listeners, who have been warned of the impending demise of the format on 92.1 for over five months now without anything actually happening.
The FCC has a 90 day window for closing the deal (January 12, 2024) but I would think the APA would have to be amended, nonetheless.
Meanwhile, those two dark feathered birds named EMF and VCY continue to fly in the distance. Hungry. Circling. Watching. Waiting.
Since SBS appears to be having trouble scraping together the money to complete the purchase, this article might be helpful: 39 Best Places To Find Spare Change
Praise still going on 92.1. I’ve noticed that it has been a while since I‘ve heard any of the 60 second “We’re moving!” redirect promos run on the station. Perhaps they realize the deal might not close anytime soon, and don’t want to further confuse listeners, who have been warned of the impending demise of the format on 92.1 for over five months now without anything actually happening.
The FCC has a 90 day window for closing the deal (January 12, 2024) but I would think the APA would have to be amended, nonetheless.
Meanwhile, those two dark feathered birds named EMF and VCY continue to fly in the distance. Hungry. Circling. Watching. Waiting.
Since SBS appears to be having trouble scraping together the money to complete the purchase, this article might be helpful: 39 Best Places To Find Spare Change
Don't expect either of them to swoop in...
The latest I've heard is that local Radio One Houston people do not expect the sale to close, but those on the corporate level are still under the impression the deal gets done even if it takes a little longer. With the Richmond Casino project getting rejected again, the company was banking on that deal to fuel further growth.
