AM Station for sale..Which one?

[major]

I happened to see this on Media Services Group webpage:

Cincinnati Full Time AM Station
Excellent city coverage of Cincinnati with owned studios and transmitter site.

This station provides the opportunity for turnkey ownership in an dynamic major market at an extremely attractive price.

$750,000.00

Any guesses? I could only guess 1230, but their signal is poor.

 

[microbob]

Not sure on what signal has full time coverage that would be available for sale..1360 maybe? CC might be looking at dumping it.

 

[Cincinnati Kid]

I wonder how accurate the words "excellent city coverage of Cincinnati" really are?

 

[major]

I wonder how accurate the words "excellent city coverage of Cincinnati" really are?

Exactly what I was thinking. Only 1360 would meet that. 1230, 1160, 1480 are all poor.

 

[JeffDavis]

My guess is that it's WCVG.  They've been trying to sell it, and if they get their price they'll make about $300K.

Read between the lines in that ad.  It doesn't say "full time" excellent coverage, and WCVG does have good coverage over the "city" of Cincinnati during the day.  Get north of the Norwood Lateral, and it isn't so excellent.  Those other AM stations don't own their studios.  WCVG is still down in Latonia where the station started in 1965.  The other AMs lease their studio space, and 1230's tower is owned by the city of Cincinnati.

What other AMs own their studio and transmitter site? WCNW, WMOH, and WPFB.

 

[Cincinnati Kid]

At night, in some spots even in the Greater Cincinnati area, WSAI - 1360-AM - has reception problems. It makes me wonder how that station had the ratings it did back in the 1960's when they had rock music.

 

[Bengalsfan]

Let's assume for a moment that it is CVG. What have they done to increase the value of the station by $277,500 over the past 9 months they have had it?

 

[Ken Tucky]

At night, in some spots even in the Greater Cincinnati area, WSAI - 1360-AM - has reception problems. It makes me wonder how that station had the ratings it did back in the 1960's when they had rock music.

Interference levels were much lower back then; and the population was more concentrated - the northern suburbs, for example, didn't extend to near Dayton. When I moved here in '66, our home in Colerain Heights was considered "way out there!" 'SAI's Top-40 competition on 1230 obviously had an even crummier signal, and hardly anyone listened to F.M.!

 

[JeffDavis]

Bengalsfan that's a great question. If they couldn't make it after buying the place for $472,500 last year, what makes anyone think it would be worth it at $750,000? WCIN/WDJO has a much better signal and sold for closer to $650,000. The property that WCVG sits on can't be worth as much anymore either, but last time I checked it was evaluated at about $250,000. Is the actual station and assets worth $500,000? I tend to doubt it. If anyone else has a better insight into this, please let us know.

 

[KR4BD]

At night, in some spots even in the Greater Cincinnati area, WSAI - 1360-AM - has reception problems. It makes me wonder how that station had the ratings it did back in the 1960's when they had rock music.

I agree with Ken Tucky about lower interference levels back in the 1960's. I was a student at the University of Dayton from '66-'70 and always listened to WSAI-1360, even at night. I lived in an off-campus house just east of campus in the the southern part of Dayton. WSAI was "very listenable" then with just a trace of other signals under it. Today, when I visit Dayton, their signal is very much compromised with others on 1360 at night. For the record, in its day, WSAI got out quite well. I heard WSAI many times in Riverside, CA in the early 1960's and even got a QSL card from them back then. On vacation about, 1980, I heard them on the car radio quite clearly in Key West, FL.

My guess is that 1320 or 1480 are possible candidates for the station being offered.

 

[KevinFodor]

At night, in some spots even in the Greater Cincinnati area, WSAI - 1360-AM - has reception problems. It makes me wonder how that station had the ratings it did back in the 1960's when they had rock music.

Very easy answer, Kid...less urban sprawl in the 1960's...even in Cincinnati.

What are today considered, "northern suburbs", were called "Hamilton", "Fairfield", etc. And most back then looked at those as areas separate of Cincinnati. (Which is why WMOH survived for many years as a "top 40" station even being in the shadow of WSAI.)

Same is true in Columbus...where WCOL-AM at 1230 blanketed what was "the city" back in the 1960's...today, because of urban sprawl, it's tough to hear in Hilliard and Dublin at night these days...

There's lots of engineering reasons for this, but, alas, I am not and have never called myself anything remotely like an engineer...so those of you who are, please explain the technical aspects if you haven't already...

 

[BobOnTheJob]

At night, in some spots even in the Greater Cincinnati area, WSAI - 1360-AM - has reception problems. It makes me wonder how that station had the ratings it did back in the 1960's when they had rock music.

The population center was much less spread on in the 60's. Their transmitter site was (and still is) perched north of the main population back in the day.

 

[OhioMediaWatch]

I do think "city" is the key word here...it sounds like they threw that in. City, not metro.

As far as the inflated price, assuming it is WCVG...who's surprised? Beacon Broadcasting's executor listed five stations up here for $1.25 million.

They ended up getting $275,000.

* $225,000 for Greenville PA's WEXC/107.1 and WGRP/940, and Farrell PA's WLOA/1470. EMF bought them, and will now spin off the AMs. All are running EMF's 'K-Love" right now. Beacon was asking $800,000 for the PA stations as a separate group.

* $50,000 for WANR/1570 Warren OH, and daytimer WRTK/1540 Niles OH. Chris Lash's Whiplash Radio bought them, and WANR is now classic hits (soon to carry the old Pittsburgh calls WHTX), and 1540 is now classic country WYCL "The Farm". Beacon was asking $400,000 separately for the two Ohio stations.

So, no, WCVG or whatever station it is will NOT get $750K for a standalone AM, and I'm sure they know it.

 

[Ken Tucky]

None of the "teapots" are even worth considering at that price... Clear Channel does own WSAI's transmitter site in Mt. Healthy; this is a stretch, but I know they used to have a standby studio out there in the transmitter bldg. (that could be what they mean by owned "studio" - creative real estate marketing!)... They do cover the city (but not the entire metro at night)... One has to wonder why they've held on to this once legendary station as long as they have! If anyone even considers buying one of the lesser A.M.'s in this market at that price they need - well, you know the rest...

 

[Bengalsfan]

So, no, WCVG or whatever station it is will NOT get $750K for a standalone AM, and I'm sure they know it.

maybe they haven't. Some station owners have not caught up to the fact that stations are not pulling in what they did five years ago. Most of these people bought the stations when the prices were inflated and think they have appreciated since then. Unless they have some killer billing going, stations are not worth what they were even 2 years ago. For example, Disney paid over $1.9 mil for their stand alone AM in Louisville in 2001. They recently sold it for $375k. And it has 15 acres of land out in a growing industrial park. People have not caught up to the fact that the bubble has burst and they are holding what amounts to be worthless paper.

 

[Tri-State Media]

I do think "city" is the key word here...it sounds like they threw that in.  City, not metro.

As far as the inflated price, assuming it is WCVG...who's surprised?  Beacon Broadcasting's executor listed five stations up here for $1.25 million.

They ended up getting $275,000.

* $225,000 for Greenville PA's WEXC/107.1 and WGRP/940, and Farrell PA's WLOA/1470.  EMF bought them, and will now spin off the AMs.  All are running EMF's 'K-Love" right now.  Beacon was asking $800,000 for the PA stations as a separate group.

* $50,000 for WANR/1570 Warren OH, and daytimer WRTK/1540 Niles OH.  Chris Lash's Whiplash Radio bought them, and WANR is now classic hits (soon to carry the old Pittsburgh calls WHTX), and 1540 is now classic country WYCL "The Farm".  Beacon was asking $400,000 separately for the two Ohio stations.

So, no, WCVG or whatever station it is will NOT get $750K for a standalone AM, and I'm sure they know it.

I somehow have trouble believing it IS WCVG.

I also have trouble believing that whoever it is realistically expects to receive $750K. Then again I also had trouble believing that 17 stations would fetch $505 million in this economy (I would've expected $200 mill max), or that 2 FM's and an AM could fetch $6.75 million (I'd have expected $3 mill) and look what happened Wednesday...both those scenarios played out over 90 minutes.

 

[Cincinnati Kid]

With regards to WSAI being heard over a long distance in the 1960's - Back in 1964, I went to Harlan, Ky. with a friend who grew up there. That night, we were in his friend's car and he had one of the push-buttons on his car radio set to 1360. WSAI came in there with only an occasional drift from time to time.

 

[stereolane]

I do think "city" is the key word here...it sounds like they threw that in. City, not metro.

As far as the inflated price, assuming it is WCVG...who's surprised? Beacon Broadcasting's executor listed five stations up here for $1.25 million.

They ended up getting $275,000.

* $225,000 for Greenville PA's WEXC/107.1 and WGRP/940, and Farrell PA's WLOA/1470. EMF bought them, and will now spin off the AMs. All are running EMF's 'K-Love" right now. Beacon was asking $800,000 for the PA stations as a separate group.

* $50,000 for WANR/1570 Warren OH, and daytimer WRTK/1540 Niles OH. Chris Lash's Whiplash Radio bought them, and WANR is now classic hits (soon to carry the old Pittsburgh calls WHTX), and 1540 is now classic country WYCL "The Farm". Beacon was asking $400,000 separately for the two Ohio stations.

So, no, WCVG or whatever station it is will NOT get $750K for a standalone AM, and I'm sure they know it.

Run, don't walk, from any deal associated with the empty suits at Media Services Group. I know that from my own bitter experience.

 

[radiorob2.0]

With regards to WSAI being heard over a long distance in the 1960's - Back in 1964, I went to Harlan, Ky. with a friend who grew up there. That night, we were in his friend's car and he had one of the push-buttons on his car radio set to 1360. WSAI came in there with only an occasional drift from time to time.

1360 throws lots of signal over southeastern Kentucky at night. When 1360 was oldies back in the late eighties I would listen to them most of a night time trip to that part of the state. It wasn't as solid as the clear channels, but mostly listenable.

 

[jry]

Bengalsfan that's a great question. If they couldn't make it after buying the place for $472,500 last year, what makes anyone think it would be worth it at $750,000? WCIN/WDJO has a much better signal and sold for closer to $650,000. The property that WCVG sits on can't be worth as much anymore either, but last time I checked it was evaluated at about $250,000. Is the actual station and assets worth $500,000? I tend to doubt it. If anyone else has a better insight into this, please let us know.

You were right in a previous post.

BTW, 1480 went for quite a bit less than 650......

I think CVG probably needs a bit of work.