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Mega Philadelphia sold.

October 2005 sale price, without the translator: $8.75 million. Yes, that raised some eyebrows at the time, but I don't think anybody predicted a 98% loss of value over 20 years.
 
deepstblu said:
I don't think anybody predicted a 98% loss of value over 20 years.
Click to expand...

It's kind of like buying a new car. It loses value the minute you drive it off the lot. But you get the use of the car as long as you own it. Same with radio. The license lost value but the owner had the use of it for 20 years. During that time, he made a living and supported the staff. Then he went bankrupt. Not all things appreciate in value over time. You hold on to wine long enough, and it becomes vinegar.
 
TheBigA said:
It's kind of like buying a new car. It loses value the minute you drive it off the lot. But you get the use of the car as long as you own it. Same with radio. The license lost value but the owner had the use of it for 20 years. During that time, he made a living and supported the staff. Then he went bankrupt. Not all things appreciate in value over time. You hold on to wine long enough, and it becomes vinegar.
Click to expand...
I love BigA so much :) Happy St Pattys Day, Big A.
This is just part of the Mega nightmare, but pretty incredible to see the aftermath. While the math would not reflect the actual terms of the "deal," look at this. Without interest, the yearly payments for 20 years would be $437,500 or a mere $1,200 per day for that $8.75M. So, if they wrote a check (obviously not probable) they would have no interest on those payments, but if they did, whew..... on top of everything else. Think that puppy could generate $100,000 a month in sales? I have a ton of semi-old and old wine that worth more than the new price just paid for the radio station, and it tastes better two. I will mention this deal to Dave Ramsey for his thoughts. He has a lot o wine and whiskey, too.

Now, in all seriousness, this may well be the biggest decline in a radio station that I have seen. And I have seen some fun ones. Alternative question, BigA -
predictions on how long the religious purchasing can continue and payoff? I am hearing some softening in donations that could get interesting as things are a bit unstable with the world of politics, right now.
 
Tibbs4 said:
Alternative question, BigA -
predictions on how long the religious purchasing can continue and payoff? I am hearing some softening in donations that could get interesting as things are a bit unstable with the world of politics, right now.
Click to expand...

My personal opinion is that religious broadcasters are like cockroaches and will outlive all of us. :) Have a green beer on me!

When I used to work in Philadelphia, I frequented an Irish pub downtown. I think it was called Watsons.
 
Would be fun to have a green beer with you. Best line/laugh of the day. "I think it was called Watson." - One two many green beers can erase a lot of memories....
 
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