SBS Buys KROI for $7.5 million

[101.9 La Kalle]

With launch supposedly a month away, you would think that something would have leaked out, such as who is on staff. Guess when the time comes there will be an abrupt dump of the Praise format, and away SBS will go with whatever is next.🤔🤨

The most we have is SBS' cash cow jock, Alex Sensation mentioning arriving in new markets and mentioning Texas, but that's really a "whatever" sort of thing, seeing how his show is syndicated.

Why do I have the scenario running through my mind that 92.1 winds up like KLAT, and months after the sale closes we’re still hearing the Praise format…🤪🤣

Don't worry, SBS is a bit more responsible than LMN. Just a bit.

Curious about what differences KXOL has compared to KLOL or KAMA?🎶

KXOL actually has a Spanish Tropical mixshow from 10a-12p (Alex Senation's "Mega Mezcla"). KXOL did have a morning show with two jocks coming from an AC station, but they both left and made a podcast. KXOL replaced it with a somewhat music intensive show that has Reggaetón and Spanish Pop, and even throwback, dance and freestyle mixes.

 

[radioislife2020]

More of a urban feel. And tents to be more bilingual.

 

[101.9 La Kalle]

More of a urban feel. And tends to be more bilingual.

KXOL evolved from a Bilingual Hurban station launched to cash in on the Reggaetón boom on the early 2000's to a Rhythmic CHR station featuring Miami's DJ Laz as "LA96.3" in 2012 and eventually a Spanish AC/CHR in 2014 when it flipped to "Mega." The audience it has from the "Latino 96.3" days might be why the station leans a bit Rhythmic and Bilingual.

 

[davideduardo]

And given that SBS likes their Regional Mexican stations on the adult and traditional side, not a good fit for that format if they go with it. Great for a PR reggaeton station, not SBS's brand of RM.

Where they have a signal, LA and SF, they do very well. Chicago is a suburban weak signal.

The market already has two contemporary stations, but no music intensive regional Mexican on a full signal. In LA, with that approach the beat the two personality regionals handsomely.

 

[Ryan Williams]

SBS released their quarterly report today and on page four they give an update on the KROI acquisition. At the end of May SBS and Radio One amended the sales agreement to push back closing until November with more (smaller) payments along the way. They also made a payment around the time of the amendment. It seems like this sale is almost certainly going to take place... eventually.

This likely explains why no programming plans have leaked yet. It looks like we get to enjoy Praise another 6 months.

SPANISH BROADCASTING SYSTEM, INC. REPORTS RESULTS FOR THE FIRST QUARTER 2024 AND SCHEDULES CONFERENCE CALL - Spanish Broadcasting System

www.spanishbroadcasting.com

 

[Identnut]

SBS released their quarterly report today and on page four they give an update on the KROI acquisition. At the end of May SBS and Radio One amended the sales agreement to push back closing until November with more (smaller) payments along the way. They also made a payment around the time of the amendment. It seems like this sale is almost certainly going to take place... eventually.

This likely explains why no programming plans have leaked yet. It looks like we get to enjoy Praise another 6 months.

SPANISH BROADCASTING SYSTEM, INC. REPORTS RESULTS FOR THE FIRST QUARTER 2024 AND SCHEDULES CONFERENCE CALL - Spanish Broadcasting System

www.spanishbroadcasting.com

SBS has all the reasons to defer the sale, albeit it would be nice for them to have the format debut ready for September 16. Just seems fitting.

 

[101.9 La Kalle]

SBS released their quarterly report today and on page four they give an update on the KROI acquisition. At the end of May SBS and Radio One amended the sales agreement to push back closing until November with more (smaller) payments along the way. They also made a payment around the time of the amendment. It seems like this sale is almost certainly going to take place... eventually.

This likely explains why no programming plans have leaked yet. It looks like we get to enjoy Praise another 6 months.

SPANISH BROADCASTING SYSTEM, INC. REPORTS RESULTS FOR THE FIRST QUARTER 2024 AND SCHEDULES CONFERENCE CALL - Spanish Broadcasting System

www.spanishbroadcasting.com

Welp, there goes my excitement for July.

 

[Mediafrog+]

SBS released their quarterly report today and on page four they give an update on the KROI acquisition. At the end of May SBS and Radio One amended the sales agreement to push back closing until November with more (smaller) payments along the way. They also made a payment around the time of the amendment. It seems like this sale is almost certainly going to take place... eventually.

Wow…just…wow. SBS is looking like a bunch of clowns right now, especially when the other RO/SST spinoff (97.1) was completed eight months ago. 🤡🤡🤡

According to the quarterly report, SBS made its previously scheduled payments through April 30, but only paid $300k on May 31, and will make additional payments of $300k on June 28, July 31, September 30 and October 31, with the remaining balance due on a supposed new closing date of November 27, the day before Thanksgiving. SBS must have serious money problems, especially as there has been no apparent movement in the sale of their TV assets following the collapse of the Voz Media deal.

This means that before July 8 RO/SST will have to file a third extension of consummation, and before October 6, a fourth extension. 🤯😖

It looks like we get to enjoy Praise another 6 months.

Yep. I had been hearing more of those “We’re moving!“ promos on Praise during May, but those have disappeared again. They’ve been promoting the move to HD for more than a year now.

Could we see Praise survive into 2025 on 92.1? A fifth extension of consummation would have to be filed before January 4.😵‍💫

Welp, there goes my excitement for July.

Now the question is: Who will flip first…KROI or KFNC?🤪🤣

 

[Astros2023]

Wow…just…wow. SBS is looking like a bunch of clowns right now, especially when the other RO/SST spinoff (97.1) was completed eight months ago. 🤡🤡🤡

According to the quarterly report, SBS made its previously scheduled payments through April 30, but only paid $300k on May 31, and will make additional payments of $300k on June 28, July 31, September 30 and October 31, with the remaining balance due on a supposed new closing date of November 27, the day before Thanksgiving. SBS must have serious money problems, especially as there has been no apparent movement in the sale of their TV assets following the collapse of the Voz Media deal.

This means that before July 8 RO/SST will have to file a third extension of consummation, and before October 6, a fourth extension. 🤯😖

Yep. I had been hearing more of those “We’re moving!“ promos on Praise during May, but those have disappeared again. They’ve been promoting the move to HD for more than a year now.

Could we see Praise survive into 2025 on 92.1? A fifth extension of consummation would have to be filed before January 4.😵‍💫

Now the question is: Who will flip first…KROI or KFNC?🤪🤣

Has Gow Media been acquired by someone?
The SBS deal sounds like smoke and mirrors
,maybe waiting on settlement over failed acquisition with la Voz media.

 

[Mediafrog+]

Has Gow Media been acquired by someone?

Not yet, though the listing is still there on the brokerage site. I suspect we will see no action on the KFNC sale until Gow has both of the 92.5 translators in hand. Looks like the SportsTalk format will survive into 2025, but not much longer, unless Gow decides to save money and dump all the local programming and just ride the ESPN feed full time until a sale or LMA happens.

The SBS deal sounds like smoke and mirrors

Probably will go through eventually, but there is still a significant chance of it collapsing. Would be fun to see who might bid for the station in such an eventuality. Could the new EMF CEO reverse course on station acquisitions and go after 92.1 to further expand K-Love’s SETX coverage? VCY enters the market?

maybe waiting on settlement over failed acquisition with la Voz media.

SBS has been schooled with the same lesson regarding the Voz Media fiasco that RO/SST learned with SBS: Don’t make a deal with someone who doesn’t have the money to actually buy what you are selling.

SBS will likely get little to nothing out of Voz, and that process could take years.

 

[davideduardo]

Wow…just…wow. SBS is looking like a bunch of clowns right now, especially when the other RO/SST spinoff (97.1) was completed eight months ago. 🤡🤡🤡

SBS was counting on the proceeds from the sale of its TV operation to buy and launch that station. The sale fell through and still they held in there and are making it happen... just a bit later.

According to the quarterly report, SBS made its previously scheduled payments through April 30, but only paid $300k on May 31, and will make additional payments of $300k on June 28, July 31, September 30 and October 31, with the remaining balance due on a supposed new closing date of November 27, the day before Thanksgiving. SBS must have serious money problems, especially as there has been no apparent movement in the sale of their TV assets following the collapse of the Voz Media deal.

But it looks like they can make the deal happen a bit later out of BCF. I give them credit for wanting to get the deal done, no matter how hard that is. The success of their fuller signal regional stations in CA makes this seem like a good idea for them.

 

[Mediafrog+]

But it looks like they can make the deal happen a bit later out of BCF. I give them credit for wanting to get the deal done, no matter how hard that is. The success of their fuller signal regional stations in CA makes this seem like a good idea for them.

SBS has now paid about 70% of the purchase price, which is probably why RO/SST hasn’t pulled the plug on the deal. And any attempt in placing the station back on the market would result in a much lower sale price, perhaps taking a further 30-50% haircut.

The weird situation is that Urban One has essentially been able to operate a sixth FM in the market since the spinoff to the trust, as they produce the programming, similar to an LMA or SSA. Would be a different situation if SST was just running an independent automated placeholder format.

 

[radioislife2020]

SBS has now paid about 70% of the purchase price, which is probably why RO/SST hasn’t pulled the plug on the deal. And any attempt in placing the station back on the market would result in a much lower sale price, perhaps taking a further 30-50% haircut.

The weird situation is that Urban One has essentially been able to operate a sixth FM in the market since the spinoff to the trust, as they produce the programming, similar to an LMA or SSA. Would be a different situation if SST was just running an independent automated placeholder format.

I think it's a best-case scenario of Urban one. They can see how well the gospel format can do on a regular FM signal and they know the station will eventually get paid off.

 

[RadioGuy1864]

SBS has a long history of living on the financial edge of a cliff, but never falling off it. They will get the deal done, but it may take an extra month or two.

 

[radioislife2020]

Hope they dont plan to launch Houston on a little budget. Then again, the little guys (estrella) are kicking ass right now!

 

[Identnut]

Hope they dont plan to launch Houston on a little budget. Then again, the little guys (estrella) are kicking ass right now!

They don't have to invest in a morning show, at the very least, as they have El Terrible in LA, SF, and Chicago.

 

[davideduardo]

Hope they dont plan to launch Houston on a little budget. Then again, the little guys (estrella) are kicking ass right now!

They have a good version of the regional format already with KLAX in LA originating the concept. They play a lot more gold than the others in the format, and that is a good play with Nielsen's difficulty in getting 18-34 panelists that are Spanish dominant in Houston. So if they aim basically late 20's to late 40's they can do very well.}

The same Nielsen issue is what had adversely affected the two rhythmic adult CHRs in Spanish in Houston: it is not the format, the music or anything other than a suck filled sample.

 

[Mediafrog+]

They have a good version of the regional format already with KLAX in LA originating the concept. They play a lot more gold than the others in the format, and that is a good play with Nielsen's difficulty in getting 18-34 panelists that are Spanish dominant in Houston. So if they aim basically late 20's to late 40's they can do very well.}

Unfortunately the delay in the sale closing for KROI means that TU has more time to fix the problems with KLTN, while MediaCo further consolidates the recent uptrend of La Raza and El Norte. SBS is missing out on going after KLTN while the station is still in some turmoil.

 

[davideduardo]

Unfortunately the delay in the sale closing for KROI means that TU has more time to fix the problems with KLTN, while MediaCo further consolidates the recent uptrend of La Raza and El Norte. SBS is missing out on going after KLTN while the station is still in some turmoil.

The old Liberman stations have really done nothing to improve. In LA, where the competition con KSCA and KLAX is much better, they are down below a 2 share most of the time and dying. They have only done well due to the weakness of KLTN and the horrible Spanish dominant sample in HOU where 18-34 is way off.

 

[Mediafrog+]

For a good laugh check the NYC board for speculation of SBS buying WEPN-FM...with money from...where?