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ABC Radio
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> This may be premature, but if Entercom wants ABC Radio,
> what's to become of KGO/KSFO/Radio Disney in the ABC TV/900
> building. Are there Entercom stations in SF?
>
There arn't any Entercom Stations in SF. Talent at KGO have been saying they have been upgrading the studios. From that it infers that whoever buys KGO/KSFO they expect to lease that floor. The deal doesn't include Radio Disney, from what I've read.
> what's to become of KGO/KSFO/Radio Disney in the ABC TV/900
> building. Are there Entercom stations in SF?
>
There arn't any Entercom Stations in SF. Talent at KGO have been saying they have been upgrading the studios. From that it infers that whoever buys KGO/KSFO they expect to lease that floor. The deal doesn't include Radio Disney, from what I've read.
> This may be premature, but...
You got that right.
You got that right.
> > This may be premature, but if Entercom wants ABC Radio,
> > what's to become of KGO/KSFO/Radio Disney in the ABC
> TV/900
> > building. Are there Entercom stations in SF?
> >
> There arn't any Entercom Stations in SF. Talent at KGO have
> been saying they have been upgrading the studios. From that
> it infers that whoever buys KGO/KSFO they expect to lease
> that floor. The deal doesn't include Radio Disney, from
> what I've read.
>
First, Emmis not Entercom seems to be the REALLY interested party.
As an employee of the mouse we have been told, and the trades have reported that It is not a sale per-se it is kind of a merger with Disney controlling 51% of the New Merged company...asking price $3B. This is for Disney Tax purposes of course. Capital Gains will skim off a lot of that 3B from the Disney bottom line. The Radio Stations would be run by the New folks with Disney as the majority owners.
Radio made Disney about 205 million last year...A cash cow that is Free and Clear.
Bob Iger wants to make the stockholders happy with 3 billion to the bottom line and dividends on their stock.
The studio's would most likely remain on 900 Front, KGO TV owns the building, Disney owns ABC and will have 51% of "NEW" merged radio...same money, different pocket. And since they have just spent 2.5 mil on new studios, I doubt they would move. They also don't have the whole floor,only about half.
As of today, Inside Radio reported that Emmis was still not clear what Disney
would take for the ABC stations, and Emmis just unloaded their TV Stations so they have some $$$ to spend. BUT, they said if Disney changes it's mind, It would use the TV Sale money to buy back Emmis stock, 95 million Dollars worth they said,with the thought of taking Emmis Private in time,if the Disney Deal could not be done,or ABC changed it's mind about selling the stations...
Emmis's owner also wanted to buy the Washington Nationals Baseball Team for 100 mil.
Everyone was waiting to see what Susquhanna went for before Re-Bidding ABC.
The first round was "Unsatifactory" according to Disney.
But Susquahanna was a SALE for 1.2 Bill.
ABC would be a Merger at 3B...Twice the price...Half the ownership...Where is my checkbook?
> > what's to become of KGO/KSFO/Radio Disney in the ABC
> TV/900
> > building. Are there Entercom stations in SF?
> >
> There arn't any Entercom Stations in SF. Talent at KGO have
> been saying they have been upgrading the studios. From that
> it infers that whoever buys KGO/KSFO they expect to lease
> that floor. The deal doesn't include Radio Disney, from
> what I've read.
>
First, Emmis not Entercom seems to be the REALLY interested party.
As an employee of the mouse we have been told, and the trades have reported that It is not a sale per-se it is kind of a merger with Disney controlling 51% of the New Merged company...asking price $3B. This is for Disney Tax purposes of course. Capital Gains will skim off a lot of that 3B from the Disney bottom line. The Radio Stations would be run by the New folks with Disney as the majority owners.
Radio made Disney about 205 million last year...A cash cow that is Free and Clear.
Bob Iger wants to make the stockholders happy with 3 billion to the bottom line and dividends on their stock.
The studio's would most likely remain on 900 Front, KGO TV owns the building, Disney owns ABC and will have 51% of "NEW" merged radio...same money, different pocket. And since they have just spent 2.5 mil on new studios, I doubt they would move. They also don't have the whole floor,only about half.
As of today, Inside Radio reported that Emmis was still not clear what Disney
would take for the ABC stations, and Emmis just unloaded their TV Stations so they have some $$$ to spend. BUT, they said if Disney changes it's mind, It would use the TV Sale money to buy back Emmis stock, 95 million Dollars worth they said,with the thought of taking Emmis Private in time,if the Disney Deal could not be done,or ABC changed it's mind about selling the stations...
Emmis's owner also wanted to buy the Washington Nationals Baseball Team for 100 mil.
Everyone was waiting to see what Susquhanna went for before Re-Bidding ABC.
The first round was "Unsatifactory" according to Disney.
But Susquahanna was a SALE for 1.2 Bill.
ABC would be a Merger at 3B...Twice the price...Half the ownership...Where is my checkbook?
> First, Emmis not Entercom seems to be the REALLY interested
> party. As an employee of the mouse we have been told, and the
> trades have reported that It is not a sale per-se it is kind
> of a merger with Disney controlling 51% of the New Merged
> company...asking price $3B. This is for Disney Tax purposes
> of course. Capital Gains will skim off a lot of that 3B from
> the Disney bottom line. The Radio Stations would be run by
> the New folks with Disney as the majority owners.
>
>
LA Radio Dot Com reported this morning that it was Entercom of Bala Cynwyd, Pennsylvania., that is looking to combine with the Disney-owned ABC Radio group.
> party. As an employee of the mouse we have been told, and the
> trades have reported that It is not a sale per-se it is kind
> of a merger with Disney controlling 51% of the New Merged
> company...asking price $3B. This is for Disney Tax purposes
> of course. Capital Gains will skim off a lot of that 3B from
> the Disney bottom line. The Radio Stations would be run by
> the New folks with Disney as the majority owners.
>
>
LA Radio Dot Com reported this morning that it was Entercom of Bala Cynwyd, Pennsylvania., that is looking to combine with the Disney-owned ABC Radio group.
> > First, Emmis not Entercom seems to be the REALLY
> interested
> > party. As an employee of the mouse we have been told, and
> the
> > trades have reported that It is not a sale per-se it is
> kind
> > of a merger with Disney controlling 51% of the New Merged
> > company...asking price $3B. This is for Disney Tax
> purposes
> > of course. Capital Gains will skim off a lot of that 3B
> from
> > the Disney bottom line. The Radio Stations would be run by
>
> > the New folks with Disney as the majority owners.
> >
> >
> LA Radio Dot Com reported this morning that it was Entercom
> of Bala Cynwyd, Pennsylvania., that is looking to combine
> with the Disney-owned ABC Radio group.
>
It sounds like nothing will happen until next year. I'm just a listener of KGO and I hope they keep the on-air talent, which it sounds like they will.
> interested
> > party. As an employee of the mouse we have been told, and
> the
> > trades have reported that It is not a sale per-se it is
> kind
> > of a merger with Disney controlling 51% of the New Merged
> > company...asking price $3B. This is for Disney Tax
> purposes
> > of course. Capital Gains will skim off a lot of that 3B
> from
> > the Disney bottom line. The Radio Stations would be run by
>
> > the New folks with Disney as the majority owners.
> >
> >
> LA Radio Dot Com reported this morning that it was Entercom
> of Bala Cynwyd, Pennsylvania., that is looking to combine
> with the Disney-owned ABC Radio group.
>
It sounds like nothing will happen until next year. I'm just a listener of KGO and I hope they keep the on-air talent, which it sounds like they will.
Re: ABC Radio and Entercom
> First, Emmis not Entercom seems to be the REALLY interested party.
...Not according to the CEO of Entercom. From today's Radio Business Report:
Entercom has its eye on ABC Radio
Entercom CEO David Field is making no bones about wanting ABC Radio and spelled out in his quarterly conference call how such a merger could be structured.
"As you all know, The Walt Disney Company has recently publicly announced they are considering strategic alternatives for their ABC Radio group. As rumored, we do have interest in ABC Radio. There are several other parties that one could assume also have an active interest in the ABC Radio group.
Now if Disney ultimately elects to engage in a transaction involving this operation, we believe it represents an attractive growth opportunity for Entercom, but only if the terms and conditions of the deal make sense for our shareholders.
As Disney has said, any transaction would need to take account of tax considerations. One possible structure would involve a merger in which Disney shareholders would receive a majority of the outstanding shares of Entercom and a majority of the voting structure of Entercom.
We would also lever the resulting balance sheet of the combined company at a higher level than Entercom's current level. At this point in time, however, it is important to note that we have no assurance that Disney will ultimately elect to engage in a transaction involving the radio group or what the ultimate structure of any transaction might be."
As with any ongoing M&A discussions, we do not intend to discuss or comment on any further details beyond what I have just provided here," Field told analysts. Why, you may ask, did he make that disclosure? Having done so, Entercom can now resume its stock buyback program, which had been suspended since April because of its discussions with Disney and Susquehanna, although Field said Entercom bowed out of the latter auction because Susquehanna Radio did not generate sufficient value for Entercom. Here is the kicker to keep an eye on as one analyst asked - And if there's no ABC deal, would he look at taking Entercom private? Field said management is looking at all options.
RBR observation: No doubt Disney CEO Bob Iger can find plenty of interested merger partners if he wants to run a 25% off sale like the Susquehanna deal. But Disney, unlike the Appell and Pfaltzgraff cousins, doesn't have a burning desire to raise cash. For the life of us, we can't see any reason for Iger to even consider selling or merging ABC Radio in such a soft market.<P ID="signature">______________
<center>
</center></P>
> First, Emmis not Entercom seems to be the REALLY interested party.
...Not according to the CEO of Entercom. From today's Radio Business Report:
Entercom has its eye on ABC Radio
Entercom CEO David Field is making no bones about wanting ABC Radio and spelled out in his quarterly conference call how such a merger could be structured.
"As you all know, The Walt Disney Company has recently publicly announced they are considering strategic alternatives for their ABC Radio group. As rumored, we do have interest in ABC Radio. There are several other parties that one could assume also have an active interest in the ABC Radio group.
Now if Disney ultimately elects to engage in a transaction involving this operation, we believe it represents an attractive growth opportunity for Entercom, but only if the terms and conditions of the deal make sense for our shareholders.
As Disney has said, any transaction would need to take account of tax considerations. One possible structure would involve a merger in which Disney shareholders would receive a majority of the outstanding shares of Entercom and a majority of the voting structure of Entercom.
We would also lever the resulting balance sheet of the combined company at a higher level than Entercom's current level. At this point in time, however, it is important to note that we have no assurance that Disney will ultimately elect to engage in a transaction involving the radio group or what the ultimate structure of any transaction might be."
As with any ongoing M&A discussions, we do not intend to discuss or comment on any further details beyond what I have just provided here," Field told analysts. Why, you may ask, did he make that disclosure? Having done so, Entercom can now resume its stock buyback program, which had been suspended since April because of its discussions with Disney and Susquehanna, although Field said Entercom bowed out of the latter auction because Susquehanna Radio did not generate sufficient value for Entercom. Here is the kicker to keep an eye on as one analyst asked - And if there's no ABC deal, would he look at taking Entercom private? Field said management is looking at all options.
RBR observation: No doubt Disney CEO Bob Iger can find plenty of interested merger partners if he wants to run a 25% off sale like the Susquehanna deal. But Disney, unlike the Appell and Pfaltzgraff cousins, doesn't have a burning desire to raise cash. For the life of us, we can't see any reason for Iger to even consider selling or merging ABC Radio in such a soft market.<P ID="signature">______________
<center>
</center></P>
Re: ABC Radio and Entercom
And I thought you realy meant it was premature. Good discussion...thanks!
> > First, Emmis not Entercom seems to be the REALLY
> interested party.
>
> ...Not according to the CEO of Entercom. From today's Radio
> Business Report:
>
> Entercom has its eye on ABC Radio
>
> Entercom CEO David Field is making no bones about wanting
> ABC Radio and spelled out in his quarterly conference call
> how such a merger could be structured.
>
> "As you all know, The Walt Disney Company has recently
> publicly announced they are considering strategic
> alternatives for their ABC Radio group. As rumored, we do
> have interest in ABC Radio. There are several other parties
> that one could assume also have an active interest in the
> ABC Radio group.
>
> Now if Disney ultimately elects to engage in a transaction
> involving this operation, we believe it represents an
> attractive growth opportunity for Entercom, but only if the
> terms and conditions of the deal make sense for our
> shareholders.
>
> As Disney has said, any transaction would need to take
> account of tax considerations. One possible structure would
> involve a merger in which Disney shareholders would receive
> a majority of the outstanding shares of Entercom and a
> majority of the voting structure of Entercom.
>
> We would also lever the resulting balance sheet of the
> combined company at a higher level than Entercom's current
> level. At this point in time, however, it is important to
> note that we have no assurance that Disney will ultimately
> elect to engage in a transaction involving the radio group
> or what the ultimate structure of any transaction might be."
>
>
> As with any ongoing M&A discussions, we do not intend to
> discuss or comment on any further details beyond what I have
> just provided here," Field told analysts. Why, you may ask,
> did he make that disclosure? Having done so, Entercom can
> now resume its stock buyback program, which had been
> suspended since April because of its discussions with Disney
> and Susquehanna, although Field said Entercom bowed out of
> the latter auction because Susquehanna Radio did not
> generate sufficient value for Entercom. Here is the kicker
> to keep an eye on as one analyst asked - And if there's no
> ABC deal, would he look at taking Entercom private? Field
> said management is looking at all options.
>
> RBR observation: No doubt Disney CEO Bob Iger can find
> plenty of interested merger partners if he wants to run a
> 25% off sale like the Susquehanna deal. But Disney, unlike
> the Appell and Pfaltzgraff cousins, doesn't have a burning
> desire to raise cash. For the life of us, we can't see any
> reason for Iger to even consider selling or merging ABC
> Radio in such a soft market.
>
And I thought you realy meant it was premature. Good discussion...thanks!
> > First, Emmis not Entercom seems to be the REALLY
> interested party.
>
> ...Not according to the CEO of Entercom. From today's Radio
> Business Report:
>
> Entercom has its eye on ABC Radio
>
> Entercom CEO David Field is making no bones about wanting
> ABC Radio and spelled out in his quarterly conference call
> how such a merger could be structured.
>
> "As you all know, The Walt Disney Company has recently
> publicly announced they are considering strategic
> alternatives for their ABC Radio group. As rumored, we do
> have interest in ABC Radio. There are several other parties
> that one could assume also have an active interest in the
> ABC Radio group.
>
> Now if Disney ultimately elects to engage in a transaction
> involving this operation, we believe it represents an
> attractive growth opportunity for Entercom, but only if the
> terms and conditions of the deal make sense for our
> shareholders.
>
> As Disney has said, any transaction would need to take
> account of tax considerations. One possible structure would
> involve a merger in which Disney shareholders would receive
> a majority of the outstanding shares of Entercom and a
> majority of the voting structure of Entercom.
>
> We would also lever the resulting balance sheet of the
> combined company at a higher level than Entercom's current
> level. At this point in time, however, it is important to
> note that we have no assurance that Disney will ultimately
> elect to engage in a transaction involving the radio group
> or what the ultimate structure of any transaction might be."
>
>
> As with any ongoing M&A discussions, we do not intend to
> discuss or comment on any further details beyond what I have
> just provided here," Field told analysts. Why, you may ask,
> did he make that disclosure? Having done so, Entercom can
> now resume its stock buyback program, which had been
> suspended since April because of its discussions with Disney
> and Susquehanna, although Field said Entercom bowed out of
> the latter auction because Susquehanna Radio did not
> generate sufficient value for Entercom. Here is the kicker
> to keep an eye on as one analyst asked - And if there's no
> ABC deal, would he look at taking Entercom private? Field
> said management is looking at all options.
>
> RBR observation: No doubt Disney CEO Bob Iger can find
> plenty of interested merger partners if he wants to run a
> 25% off sale like the Susquehanna deal. But Disney, unlike
> the Appell and Pfaltzgraff cousins, doesn't have a burning
> desire to raise cash. For the life of us, we can't see any
> reason for Iger to even consider selling or merging ABC
> Radio in such a soft market.
>
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