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$1.2 Million for WIL-AM?

E

Elephant

Doesn't that seem kind of low? Did WIL have any property at the towers? Seems low for a 5000 watt station in a large market. A 500 watt AM with almost no night signal here in Cincinnati went for $1.9 Million. There was some property worth about $300K, but the price seemed very inflated.
 
There is some property, over in an industrial area in Illinois that houses the tower array. I think BIC letting 1430 go so low has seriously devalued the AM signals in the market. WIL-AM is one of the few good 5kW regional AMs in St. Louis, and it sold for just barely a bit more than a 500 Watt Station (WGNU).

A local operator of a couple of AMs here in St.L wanted more than that for a 1kW "graveyard" local channel, that can't even cover the entire metro area by day. And their other 5k AM, which has bigtime night signal issues, they wanted more than twice what Mr. Romanik got 1430 for. And those stations don't usually even show up in the ratings - 1430 does, fairly consistently score about a 1.0 in the ratings, be it as it was with Nostalgia as WRTH for years, Oldies, or the current Classic Country format.
 
WGNU is actually 450 watts ;), and although I'd rather be at 920 than 1430 (except for the hum on that frequency), I get your point. Maybe this means I can pick up 1570 for a couple Wal-Mart gift cards I have ready to re-gift.
 
Radio statioons are either priced as facility "stick" value, or some percentage of cash flow or gross. In the case of WIL 1430, it comes with transmitter land, transmitter, and NO revenue, No call letters, or presumably NO programming. The current owner is just getting a money loser off it's balance sheet. I look for Bonneville to be purchasing additional big signals AM and FM in this market fairly soon. The price of anything is based on what you can get for it. WGNU sold for 1.3. million with billing, and some valuable transmitter land . For what it is worth, WGNU had the same sort of prgramming and the original call letters,and unlike 1430, was not the format and call letter of the month operation. 1430 had been for sale for some time, this sale is not surprising at all.
 
Buster, you are right. You'd think for $1.2 mil, the new owners could do SOMETHING to make decent money (which is relative, of course) on their investment. How hard would it be to bill half of that in one year? Two-third of it? All of it?

As to WGNU, it may have made money (presumably on a very low budget) but, and perhaps I am wrong, I can't imagine much of that billing stuck around when they blew the format up.
 
KJCB said:
Buster, you are right. You'd think for $1.2 mil, the new owners could do SOMETHING to make decent money (which is relative, of course) on their investment. How hard would it be to bill half of that in one year? Two-third of it? All of it?

As to WGNU, it may have made money (presumably on a very low budget) but, and perhaps I am wrong, I can't imagine much of that billing stuck around when they blew the format up.
Click to expand...

Great buy by Romanik for 1430. Shrewd. 920? Only revenue left was weekend screaming preachers. Burt Kaufmann bought 'GNU for the land next door to KXEN.

Let's see if Romanik operates it professionally or if he does an imitation of his lame ass 1510 WXOZ.
 
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