3WZ Cleaning Forever's clock

[wiseman]

I think Mike M. and the gang at First Media should be commended for the fantastic job they do with such limited resources. Imagine the difficulty of their task in competing with a deep pockets single-owned group of a seven (6?) stations, (and four other stations), and in such a small market as State College.
It is clear they know what they are doing.
Think of it ---seven against one. And it isn't even close!
And now Joe is coming on...and B is getting legs.

 

[Spackler1]

First Media is owned by some big hotel chain, aren't they? I'd think they would be well funded.

 

[Polonius]

Spackler sir, They may have funds, they may have tons of money, but they have only one station. The point the great "wise" one is making I think is valid. Forever has seven, wait, be charitable, three, opportunities to out-perform 3WZ. And yet they blow it every single time. The 'Heritage" station rules. (Even if it is only because the folks at Forever are incapable) I agree with Wiseman. Kudos to Mike and Co.
The folks to look at now for growth are Magnum and 2510. They seem to sense the opportunity and are pro-active. Forever has a, yawn, a new manager and brand new staff. They are pathetic jokes.

 

[mistermicrophone]

Forever has a, yawn, a new manager and brand new staff. They are pathetic jokes.

Not the programming staff and a handful of the sales people, though. They are quality people.

 

[Spackler1]

I agree that 3WZ has done a fine job. They had a lot of help from hapless Forever, which made a lot of bad decisions. That fact shouldn't detract from the accomplishments of First Media and Magnum (and WOWY, too).

 

[gargoyles]

"Owned by some hotel chain...." indeed.

Richard E. Marriott is involved with First Media. But like Forever, First is a privately held corporation. Marriott is the head of Host Hotels, which used to be known as Host Marriott and which until recently was a real estate investment trust. He is the brother of "Bill" Marriott, Jr. who runs the Marriott hotel chain. So, two brothers, two companies with interwoven interests.

But since First is a privately held company and is not carried on the books of either Marriott's main business, you can say the guy holds so-and-so much interest in First, but you can't accurately say that First is "owned by some hotel chain."

As for the Host: Insiders own about 5% of more than half a billion shares outstanding. Most of the rest is owned by institutions and mutual funds. The largest single stockholder appears to be Barclay's Global with about eight percent.

 

[Spackler1]

First Media also owns something 22 or 23 other radio stations.

 

[gargoyles]

And your point is?

Yes, they own a bunch of stations, but the post here is that 3WZ does a good job with limited resources, and it does. And they promote well. And they have a professional sound. And they come in well.

 

[Spackler1]

It was a simple statement. They own a bunch of other radio stations. They are one of the "little guys" in the State College market, but are hardly a company without resources.

 

[Polonius]

When talking of resources you must consider the willingness to use them wisely. Surely Forever has shown the will to pour big money down the drain in a vain effort to dominate SC. They have expensed tremendously.
But the mismanagement has seen the money wasted.
3WZ does the same thing over and over, consistent, with long-term relationships. Forever changes continuously and pointlessly, burning bridges, confusing listeners, and with a "we have big gonads" attitude.
If they valued their stations and their people they would be swimming in money. But they don't. They never will.

 

[Spackler1]

When talking of resources you must consider the willingness to use them wisely. Surely Forever has shown the will to pour big money down the drain in a vain effort to dominate SC. They have expensed tremendously.
But the mismanagement has seen the money wasted.
3WZ does the same thing over and over, consistent, with long-term relationships. Forever changes continuously and pointlessly, burning bridges, confusing listeners, and with a "we have big gonads" attitude.
If they valued their stations and their people they would be swimming in money. But they don't. They never will.

Nicely said.