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92.7 Rev
- Thread starter sfradio
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and KRJK 97.3
Then there’s Willie Davis, who made sure that his Milwaukee stations stay in the family after he passed away.
He also owned KHTI-FM Laker Arrowhead and KATY-FM Idyllwid, CA. Now in the licensee name of WILLIE D. DAVIS FAMILY LIMITED PARTNERSHIP.
Here's the latest. Larry Patrick wants to complete the VCY deal. Ed Stolz wants to sell the station on his own.
www.insideradio.com
Court Urged To Reject Royce International Reorganization Plan, Suggesting Liquidation Instead.
Larry Patrick, who for more than a year acted as the receiver for three Royce International Broadcasting stations, says owner Ed Stolz’s chapter 11 reorganization plan is an “illusion of
K.M. Richards
Program Director, The Eighties Channel™
I just wish it was to someone other than VCY. That organization is so ultra-conservative they make EMF look like a commercial mainstream operation.
In the longer term, someone has to stop these religious broadcasters from building up a pile of cash to outbid secular companies whenever a decent signal in a market becomes available for purchase. At this rate, the entire FM band is going to end up being filled with nothing but conservative talk, religion, sports and news.
In the longer term, someone has to stop these religious broadcasters from building up a pile of cash to outbid secular companies whenever a decent signal in a market becomes available for purchase. At this rate, the entire FM band is going to end up being filled with nothing but conservative talk, religion, sports and news.
The way to stop them is for a secular group to do the same thing. It's really very easy, and I'm sure there are a lot of equally passionate people who want to hear 50s-60s oldies or something like that. All it takes is someone to form an organization (it could be non-profit, tax free, just like VCY) aimed at buying and running radio stations.
But there is no other way to stop religious organizations from buying radio stations.
There's people in the tech community that could outbid VCY, buy that station and build a non profit around it. They could follow the example of the late Paul Allen's relationship with KEXP.
Why they aren't aware, or not interested, is another issue.
Why they aren't aware, or not interested, is another issue.
Any update on whether JamTraxx's Pure FM is now airing on KREV? An internet search turned up nothing. Curious, if anyone in the Bay Area within listening distance can tell us what's being heard over the air, if anything.
K.M. Richards
Program Director, The Eighties Channel™
I was actually thinking along the lines of finding some way to prove to the IRS that they aren't really non-profit, which would make all those "donations" from their listeners taxable and negate their ability to amass that pile of cash each of them have.
They may be aware, but owners of those tech companies generally have little free cash… their wealt is in their ownership of the tech companies which is not liquid.
Good luck. The current IRS is looking for ways in increase revenue. But EMF has some pretty good lawyers.
Depends. Mr. Bezos had enough spare cash (even after the divorce) to buy the Washington Post. Elon Musk was able to put his hands on $54 billion pretty easily. That could be enough to buy a big radio company.
Mr. Bezos bought the WaPo many years before he was divorced. And it was only a $250 million deal, less than 1% of his peak fortune.
Mr. Musk is well short on his financing, especially now that Tesla stock has taken a beating in the last 90 days.
His Amazon stock has lost about $1000 a share in the last month, so that has to hurt. But I bet he still has enough cash in his mattress to buy KREV. If he was interested (which he's probably not).
Stolz is such a rotten pox on broadcasting.. when will he just go away?
None of the Washington Post money came from personal funds. He buys things with someone else's money because he figures that a typical 7% or so business loan will be paid for by an enterprise he figures to make 15% or better on as an ROI.
And Musk put together his deal for Twitter with other people's money. He sold a small amount of Tesla shares and leveraged themy about 1000% with borrowed funds.
But none of them has the free cash to buy and sustain a single radio station. It's too small for them to put a high paid executive in charge of as they'd rather have that person doing much bigger deals. A good example is Buddy's much discussed station in Buffalo, NY. No larger company could or would put in the time and money needed to make a small station serving old demos work; Buddy is a single owner/operator and made the station his life and it is working.
Bill Gates or any of the other new tech or new media "moguls" is going to buy a stand alone FM that only covers about 20% of the market and does not even have a signal down in Santa Clara County where many of them live and work.
It really does not hurt. As my father taught me when I was about 10 or 11 and learning to buy shares of stock: "it's not a loss unless you sell it".
Most of those new tech people do not have much cash sitting around. Unless they are like Gates and Elison and retired from entrepreneurship activities, those people keep little cash / liquid assets.
Not soon enough.
And it was leveraged; he sold a tiny amount of stock and borrowed the rest.
He had already sold the small amount of shares needed to leverage the loaned money to offer the deal. He did not need to sell any more Tesla stock to make it work.
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