No Sale Looming, ESPN 98.7 expected to pivot to Music

[fybush]

You meant "has been responsible", I think, Scott. (Simple typo.) I've handled the PA commitment at enough stations during my career to know a bit about this.

If you weren't on a perpetual mission to correct everyone for everything, you might re-read what I wrote.

I was addressing the misconception that Emmis hadn't been responsible for public service all along.

And if Emmis is trying to handle that responsibility as simply and inexpensively as possible, they probably run the two bartered shows "Viewpoints Radio" and "Radio Health Journal" like a gazillion stations elsewhere do. (Including all of the ones I consult or program in New Mexico.)

 

[MichaelD1972]

The 98.7 flip is pretty much what I expected. It's a format that can already be heard elsewhere in the NYC market. In this case, it's Hot AC. The difference is TJ 98.7 is programmed on the cheap. When it goes away, no worries. Listeners can go back to WNEW for that music.

 

[K.M. Richards]

If you weren't on a perpetual mission to correct everyone for everything, you might re-read what I wrote.

I was addressing the misconception that Emmis hadn't been responsible for public service all along.

Well, that's twice today that I thought a post meant something other than it did. Mea culpa again.

However, that does lead me to ask of you a question, because apparently I have a misunderstanding of the concept that led to my misunderstanding of your post: I was always under the impression that a licensee couldn't transfer their responsibility for airing "programming addressing the needs and concerns of the community" (as I have always understood the concept of public affairs) to a third party under a LMA ... that the licensee remained responsible for that legal obligation directly.

Have I been wrong all these years? Is it common for a LMA'd station to have its PA commitment fulfilled by the lessee rather than the licensee?

 

[lanceventa]

Where did that logo come from in your story?

I cannot give away all my secrets. So lets say It popped-up on a pop-up banner when I did my usual searches for the pop-up station.

 

[BLA]

Have I been wrong all these years?

Most probably not. Usually whenever a special right or license in conferred upon anyone, rights and responsibilities attach to them who were given the rights. FCC vets all persons who control the money for any entity or the sole proprietor that is licensed and the engineers. I haven't heard of LMA entities getting checked out by FCC and vetted for financial stability, character and programming content by them.

 

[lanceventa]

Well, that's twice today that I thought a post meant something other than it did. Mea culpa again.

However, that does lead me to ask of you a question, because apparently I have a misunderstanding of the concept that led to my misunderstanding of your post: I was always under the impression that a licensee couldn't transfer their responsibility for airing "programming addressing the needs and concerns of the community" (as I have always understood the concept of public affairs) to a third party under a LMA ... that the licensee remained responsible for that legal obligation directly.

Have I been wrong all these years? Is it common for a LMA'd station to have its PA commitment fulfilled by the lessee rather than the licensee?

I believe you're still misinterpreting what Scott said. Look at it under the perspective how he replied to the quote below...

He was saying it was an incorrect assumption that Emmis wasn't responsible for the public service programming.

 

[K.M. Richards]

I believe you're still misinterpreting what Scott said. Look at it under the perspective how he replied to the quote below...

He was saying it was an incorrect assumption that Emmis wasn't responsible for the public service programming.

Those double negatives get me every time. Thanks.

Think I'll lie down now. Starting to get dizzy from how this thread exploded in the past 18 hours.

I would say I stand corrected, but I have been recuperating from surgery the past few weeks (yes, really) and I can't stand for long periods of time at the moment.

 

[BLA]

Equally confusing (single negative); Do you don't want to vote YES on proposition NO?

 

[K.M. Richards]

Do you don't want to vote YES on proposition NO?

No ... um, er, I mean yes. Or do I?

 

[Mykel the Radio Fan]

From some sweepers I heard in a YouTube video, it's already starting to sound like this will be permanent. Not sure, though.

 

[MichaelD1972]

Here is my video of the final minutes of 98.7 ESPN and the flip to TJ 98.7.

I have two other videos from the first day of TJ 98.7 that I posted on my YouTube channel.

 

[DToTheJ]

TJ was previously part of Elvis Duran's show then spent six years in mornings at 103.3 Amp Radio Boston. His show is syndicated by Gemini XII Media which also owns United Stations.

TJ Taormina was also a listener and caller to the old Opie and Anthony show on WNEW. He also wrote show recaps on the show's unofficial website at the time.

 

[lanceventa]

TJ Taormina was also a listener and caller to the old Opie and Anthony show on WNEW. He also wrote show recaps on the show's unofficial website at the time.

And in the piece that ties everything together, he was taught by Judy DeAngelis at FDU.

 

[davideduardo]

We have a disagreement here. (GWAS.) The owner, in this case, cannot make a good case. Emmis is a radio company, so the idea that they don't know how to operate radio stations is laughable. And this station has been on the market for what, a year? It's entertained multiple tire kickers and evaluated multiple offers, which they rejected because those offers didn't meet their unreasonable expectations, given current market realities. They had a deal, an LMA, and the other party walked away because Emmis was demanding an unreasonable amount of money to continue it.

Do I have any of those facts wrong?

Yes.

The largest issue here is that there are a number of "motivated buyers" who want the station. But none can come up with the money because of the combination of high interest rates (the economy) and insecurity about a potential recession (the economy and politics).

As to the LMA, Good Karma's biggest future opportunity is with its deal for the streaming rights to ESPN. They are not buying OTA stations and have downgraded to an AM in NYC just to maintain presence, not as part of a growth strategy for OTA radio.

And Emmis has not been a radio company for many years. They have divested even their home market stations long ago.

Under those circumstances, if Mr. Smulyan wants to hold his breath until that proverbial bigger sucker does come along, the least he can do is follow all the normal rules sans any waiver. I suspect the FCC will see it the same way.

My guess would be that this is a well played waiting game to see who can first come up with the money. It's about getting a line of credit, not about wanting the station.

 

[Yabadabado1]

As has been stated many times, many ways ... (Merry Christmas to you.) ... the owner has set a high price to satisfy the shareholders. When and whether that asking price comes down is up to him and those shareholders.

And how much is it costing them to keep losing money [if they are]? At some point, some bean counter somewhere will say that it's costing them more money to keep it going then they may ever get out of a sale. And if it nobody wants to buy it at their asking price, most business' etc reduce the price of what they're asking for. Same as in housing markets.....people overpriced their houses, after no sale they may reduce the price or take it off the market. If it''s in a neighborhood that's sorta upscale, no problem. Case in point, town I used to live in, people are basically paying tens of thousands over appraised price of the house [one case over $150,000 more then the house was appraised at] and the houses are literally selling within minutes after being put on the market...in one case sold within 5 minutes of being listed because of great location the next county over, great school system, well maintained streets, parks, etc. Big city 20 miles away, people won't even pay $10 grand for houses that started out with asking price of $50,000 to $100,000. I've seen houses/small business' for sale for months, that eventually are either donated [for a tax write-off]/sold to a land bank or the city buys them and tears them down. It has the reputation of being a ghetto, high-crime city with dozens of people being killed daily [even if it's actually only one a day or week] There are some sections that are very well maintained and have high income residents but you can't get outsiders to believe that. Same now goes for radio stations. You can ask $10,000,000 for your signal but if no one's listening anymore what bank or group is going to throw away that much money for something they never see a return on?

 

[davideduardo]

Look, for post #800 (!!!), my point was that Emmis has been around a long time and knows what they're doing. They don't need any stinkin' waiver from the Commish. And if they wanted to sell 98.7 immediately, they'd accept the best of whatever offers they've already received.

If any had the financing in this difficult time for M&A.

If they want to hold out for the Great White Whale (H/T to Herman Melville), they'll keep their corporate thumb up their corporate butt until the market values come back up to the stratosphere.

Or until interest rates become more reasonable...

 

[Yabadabado1]

They could have said "We're still doing Sports!" And just play Huey Lewis & The News "Sports album on a loop.

 

[K.M. Richards]

And how much is it costing them to keep losing money [if they are]? At some point, some bean counter somewhere will say that it's costing them more money to keep it going then they may ever get out of a sale. And if it nobody wants to buy it at their asking price, most business' etc reduce the price of what they're asking for.

I doubt they lost money during the LMA with Good Karma. Their only real expense was the electric bill and rent on the master antenna at ESB.

Presuming this current stunt is for the PR value, Emmis might be letting TJ and his syndicator run as long as they cover those bills. (I personally doubt it, but I also doubt Emmis is paying them for the "pop-up".)

For that matter, it is not outside the realm of probability that Emmis would entertain another LMA offer if no buyers with the financing to meet the asking price emerge.

 

[Don CT]

Question is, what happens after Labour Day?

Tuesday.

 

[davideduardo]

For that matter, it is not outside the realm of probability that Emmis would entertain another LMA offer if no buyers with the financing to meet the asking price emerge.

Or they could even do the kind of joint venture that Televisa did for two decades in Mexico City: Emmis keeps 50% ownership, the "working partner" runs the station and they split the profit in some determined percentage.