I’m not talking music. I’m talking presentation. Broadway Bill Lee comes to mind since this is the NYC forum.
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ESPN 98.7 FM to be no more come August 31, 2024
- Thread starter NYAZSporty
- Start date
Wouldn't they want to advertise their donation if that was the case? That type of stuff would tend to be public...
I can only see two formats working in NY: Spanish Tropical/CHR and Regional Mexican.
A new programmer's best shot at launching a successful Spanish station in New York is Regional Mexican, as Spanish CHR is dominated by Mega, Amor and Equis.
It's not up to the programmer. It's up to the owner. Right now we don't know who that is. So any other discussion is useless.
We're assuming that another LMA could also be possible, right?
With who?
We don't know who the programmer/owner might be yet, but an LMA is always possible too.
If Jeff wants out, and his investors want out, once and for all to cash out, the answer is no. Very unlikely. Doing still another LMA defeats all those
That's what the article in the OP said. But we also know that the seller needs the cash to buy out his stockholders. There is a time limit on his agreement with the stockholders. He has three years to do it, and he said in September that he wants to do it quickly.
Looking at all of his other asset sales, he's moved quickly. He's not someone to hem & haw. I believe he's already agreed to a sale, and they're waiting for the best opportunity to announce. He has a tenant in the property now, so there's no rush to announce the next occupant.
Smulyan's duty is to maximize value for his shareholders. If that means an LMA, it cannot be ruled out completely. It might even increase the value for a buyer...
Radio is right now a risky investment due to its reliance on advertising for revenue as that has consistently dropped. If you can get another long lease with a guaranteed income plus little in the way of expenses (tower lease, keeping one engineer on staff), that is a better value proposition for an investment firm should the goal still be to wrap up the Emmis concern.
And since that article was written the advertising picture for radio has grown even grimmer, with few signs of recovery. With that in mind, wouldn't it be prudent for Smulyan to accept any bid that comes somewhere close to the asking price, since any bids that come in a month or two later will be for even less money?
Maybe he will. In any case, we'll know for sure next month.
Maybe he’s waiting for this thread to reach 1,000 posts. 🤪
I agree.
I was one of several who said from the get go their $50 million asking price was too steep.
I wonder if this is a case of lack of interested parties or if it's a case of Emmis refusing to budge sufficiently on price - assuming the above theory is true?
Or maybe it's neither. Maybe the deal is done, and they're just waiting to announce.
In the world of social media, there's no rush to announce. He has an occupant for the frequency. They're under contract through the end of August.
They can announce on August 16th, with an LMA effective September 1 at midnight. No problem.
In the meantime, the current occupant is starting to convert its listeners to the other platforms.
So we can put the idea of Good Karma extending their LMA or emerging as the buyer in the "not happening" category.
Correct, as they announced in the OP one year ago. As indicated by the subject of this thread.
Radio is in decline in large part because newer technologies have given audiences new places to wander.
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