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Audacy Sells St. Louis Cluster

RoseCatkw_21 said:
so Hoffmann Media Group plans to change formats...?
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If you're talking about KMOX, why on earth would they do that?
TheRob said:
$20 million seems like a bargain for a cluster in a top 25 market, but who could say.
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The nearest comp would be the Bonneville cluster sale in San Francisco...for half the price. Hoffman must have really wanted this cluster.

St. Louis is also not the most growth-oriented market that there is.
 
TheRob said:
$20 million seems like a bargain for a cluster in a top 25 market, but who could say.
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Twenty years ago, every station in that cluster would’ve fetched more than $20 million. Just shows how much values have fallen.

Steel Nerves said:
Not that there's been any word about. KMOX has been pretty insistent publicly that nothing will change for the foreseeable future.
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Don’t know if we can read too much into it, but Hoffman is bringing back Becky Domyan, who was purged a few months ago in Audacy's management restructuring, to run the cluster. The message would seem to be that Hoffman wants to keep things pretty much the way they’ve been and wants someone who knows the operation and the market running it.
 
Kent said:
Twenty years ago, every station in that cluster would’ve fetched more than $20 million. Just shows how much values have fallen.
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Not just that, but to keep up with inflation, that $20 million in 2006 would have had to have been around $33 million today.
 


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