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fredflintstone
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La lengua española que programa para los recogedores de la seta en el Cuadrado de Kennett está viniendo.
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La lengua española que programa para los recogedores de la seta en el Cuadrado de Kennett está viniendo.
I was in Dover yesterday and tuned into 1600 WAMS and heard one of their id's as 1600 WAMS Dover and 1260 WNWK Newark/Wilmington.
If I recall correctly, when the previous owner of 1260 WNRK sold the station he got $500,000 ( this was only for the station not the land if I remember correctly). If that is correct, then this latest past owner lost money on this latest deal at $200,000. I guess he'll take a tax loss.
Maybe WTUX, who was a full timer and PD at one time at WNRK when it was a successful station, remembers the correct info and will correct any errors I made with this story.
If I recall correctly, when the previous owner of 1260 WNRK sold the station he got $500,000 ( this was only for the station not the land if I remember correctly). If that is correct, then this latest past owner lost money on this latest deal at $200,000. I guess he'll take a tax loss.
Maybe WTUX, who was a full timer and PD at one time at WNRK when it was a successful station, remembers the correct info and will correct any errors I made with this story.
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fredflintstone
Guest
I don't think Dave Ramsey would be very impressed with a $300,000.00 tax loss - which would reduce his tax bill by maybe $100,000, if he pays that much in taxes.
All this raises the question, if Clear Channel continues to sell off stations, how much of a "tax loss" can they expect on a station license for which they paid $4 million? And then there's the hit they would likely take on all the other stations they acquired as part of AM/FM.
The bottom will drop out of the market for radio stations - especially AM radio stations - in the next few years. Buying radio stations now is like buying stock in a buggy whip manufacturer 100 years ago. Klepac is lucky he found a buyer, although not a lucky as Sally Hawkins, who found a sucker.
All this raises the question, if Clear Channel continues to sell off stations, how much of a "tax loss" can they expect on a station license for which they paid $4 million? And then there's the hit they would likely take on all the other stations they acquired as part of AM/FM.
The bottom will drop out of the market for radio stations - especially AM radio stations - in the next few years. Buying radio stations now is like buying stock in a buggy whip manufacturer 100 years ago. Klepac is lucky he found a buyer, although not a lucky as Sally Hawkins, who found a sucker.
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WTUX
Guest
Mike, I seem to recall the asking price settling at $250K, with the actual sale being less than that. And all that bought was the license for a dark AM. No land, building, ancient equipment. Hopefully the new buyer is at least getting a good transmitter.
$200K is maybe the right price. I usually base it on 5x the previous year's gross revenue. Judging by the few paid ads, I certainly wouldn't pay more than that for a station on 1260 in Newark. And I wonder if any debt goes with the station. It is not unusual in the sale of an AMer that the buyer is stuck with a debt load in addition to the asking price.
The fact 1600 is still running the joint ID is characteristic of the problem the operation had. Details were often not dealt with. And with the fine professional sound the operation now has, little things like incorrect legal IDs should not be ignored.
$200K is maybe the right price. I usually base it on 5x the previous year's gross revenue. Judging by the few paid ads, I certainly wouldn't pay more than that for a station on 1260 in Newark. And I wonder if any debt goes with the station. It is not unusual in the sale of an AMer that the buyer is stuck with a debt load in addition to the asking price.
The fact 1600 is still running the joint ID is characteristic of the problem the operation had. Details were often not dealt with. And with the fine professional sound the operation now has, little things like incorrect legal IDs should not be ignored.
fredflintstone said:WNWK-AM/Newark (Wilmington)
PRICE: $200,000
TERMS: Asset sale for cash
BUYER: Ekonomo, Jose Roberto & Aida Esperanza, headed by General Partner Jose Roberto Ekonomo. Phone: 240-481-8242. It owns one other station. This represents its entry into this market.
SELLER: East Coast Broadcasting, Inc, headed by President Vincent Klepac. Phone: 302-455-9267
FREQUENCY: 1260 kHz
POWER: 1kw day/42 watts night
FORMAT: Oldies
COMMENT: East Coast Broadcasting's WNWK-AM/Newark, DE to Jose Roberto & Aida Esperanza Ekonomo for $200,000 consisting of a deposit in the amount of $10,000 and the balance in cash at closing.
La lengua española que programa para los recogedores de la seta en el Cuadrado de Kennett está viniendo.
Could you please translate, fred? I'm not exactly fluent in Spanish. Is 1260's COL now Kennett Square?
ixnay
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fredflintstone
Guest
ixnay said:La lengua española que programa para los recogedores de la seta en el Cuadrado de Kennett está viniendo.
Could you please translate, fred? I'm not exactly fluent in Spanish. Is 1260's COL now Kennett Square?
ixnay
Spanish language programming for the mushroom growers in Kennett Square is coming.
No, the city of license is still Newark but they have a good signal to the north. Seem appropriate in a way, since the U of D started up that way.
My high school Spanish has evaporated but Google does translations.
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PaulBWalkerJr
Guest
The people who bought WNWK 1260 also own WSPG-AM 1400 in Spartanburg, SC just over an hour north of me. It's not running spanish, it's programmed as "ESPN Sports Radio 1400".
There's NOTHING to say 1260 will go spanish. I was tlaking with someone last night who knew of them and said it wasn't necessarily just going to go spanish because of who owned it.
I believe the asking price ofr 1260 back when they advertised it on broadcaststations4sale.com was $300,000
There's NOTHING to say 1260 will go spanish. I was tlaking with someone last night who knew of them and said it wasn't necessarily just going to go spanish because of who owned it.
I believe the asking price ofr 1260 back when they advertised it on broadcaststations4sale.com was $300,000
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WTUX
Guest
When the story of the sale started making the rounds, it was posted here that he owned several Spanish language stations. It appears now that he has one station and its basically syndicated sports.
He's making a mistake right now with allowing the station to be dark. As Vince found out the hard way, bringing a dead station back to live takes a Biblical style miracle. He even tried begging listeners for money when he was running Gospel (1510 does the same thing). Didn't work.
He's making a mistake right now with allowing the station to be dark. As Vince found out the hard way, bringing a dead station back to live takes a Biblical style miracle. He even tried begging listeners for money when he was running Gospel (1510 does the same thing). Didn't work.
fredflintstone said:ixnay said:La lengua española que programa para los recogedores de la seta en el Cuadrado de Kennett está viniendo.
Could you please translate, fred? I'm not exactly fluent in Spanish. Is 1260's COL now Kennett Square?
ixnay
Spanish language programming for the mushroom growers in Kennett Square is coming.
No, the city of license is still Newark but they have a good signal to the north. Seem appropriate in a way, since the U of D started up that way.
My high school Spanish has evaporated but Google does translations.
That's right, UD did start in Chester County. I've read where Tubby Raymond lives in Landenberg.
ixnay
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