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Bloodbath at Atlantic

kickass367 said:
Seems like dance is the final nail on another coffin. With Pulse and now Wild. Those people who wanted Wild to fail after getting rid of WJSE feel this is irony at it's finest. Seems like Dance is cursed, whereever it lands...bankruptcy and another format change follows.
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I'll give you "final nail," but this circus was leaving town way before they changed it to WILD. Keep it alternative or change it to dance, doesn't matter. Everything else was run like a monkey lovin' a football.
 
Who Cares said:
kickass367 said:
Seems like dance is the final nail on another coffin.  With Pulse and now Wild.  Those people who wanted Wild to fail after getting rid of WJSE feel this is irony at it's finest.  Seems like Dance is cursed, whereever it lands...bankruptcy and another format change follows. 
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I'll give you "final nail," but this circus was leaving town way before they changed it to WILD.  Keep it alternative or change it to dance, doesn't matter.  Everything else was run like a monkey lovin' a football.
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I admire the criticism for dance, but I'll bet you the numbers for Wild will be better than the real numbers of JSE. 

As for the JSE fans who wanted Wild to fail, same situation with G-Rock/Hit 106.  Hit 106 did demise, but rock alternative is not on 106.3/106.5 now is it? 

Tell you one thing, the only way for Wild to go is if JVC doesn't purchase 102.7.  I'm gonna keep it at that.
 
d21ofnj said:
As for the JSE fans who wanted Wild to fail, same situation with G-Rock/Hit 106. Hit 106 did demise, but rock alternative is not on 106.3/106.5 now is it?
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Press' exit from the Alternative format was bitter - for Press, who blamed the fans, and for the fans they'd hope to court back if they were to return to Alternative. Which is a shame, because in actual fact, they never once did Alternative correctly. Even when it sounded correct, it's because they'd taken their hand off the steering wheel in advance of a format flip and Terrie managed to steer it in the right direction. Press will not launch another Alternative station of any stripe in this or any other century.

(Sez the guy who said "Faye Gade will never sell that station...")
 
kickass367 said:
Per Northeast Radio Watch by Scott Fybush:

http://www.fybush.com/nerw.html#nj

NEW JERSEY's Atlantic Broadcasting is expected to filed for bankruptcy early this week, turning the page on a troubled chapter in the history of the Atlantic City station cluster that began in the summer of 2008 when several local radio people got together to buy the three FMs (WTKU 98.3, WJSE 102.7 - now WWAC, WMGM 103.7) and two AMs (WOND 1400 and WTAA 1490, now WBSS) that had belonged to Access.1 Communications, and to Howard Green before that.

Despite some savvy programming and technical moves, shifting the 102.7 signal into the heart of the Atlantic City market and flipping it from modern rock to top 40, the cluster sailed into stormy weather. The stalled economy that made the $9.5 million purchase price look untenably high, and it was soon exacerbated by a series of legal problems, including the arrest of former PD and Atlantic partner Brett Denafo on charges that he stole nearly $175,000 from the stations through fraudulent use of a station credit card and the sale of airtime for which Atlantic never received payment.

With some $6 million still owed to Sun Bank, the local bank that financed the purchase back in 2008, we're hearing things have gotten ugly at Atlantic's headquarters in suburban Linwood: the stations were reportedly running largely automated last week, and we're told Atlantic failed to make payroll on Wednesday and that few employees were seen at the building for the rest of the week.



That should answer your question d21ofnj.


Seems like dance is the final nail on another coffin. With Pulse and now Wild. Those people who wanted Wild to fail after getting rid of WJSE feel this is irony at it's finest. Seems like Dance is cursed, whereever it lands...bankruptcy and another format change follows.


[Link added by Radio-Info as a courtesy]
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Brett over at Z88.9 explained it best. And lets add this.....Wild 102.7 isn't the ONLY station going down so where is this a curse on dance?

For that matter...stand corrected, Wild 102.7 was CHR at best.
 
What a drag. I did nights on MGM in 90-91...jonny b was pd...nut-job, but good times...
 
Someone will buy the stations on the cheap and keep everything going (or make some format changes). It's not like their not going to broadcast anything on those sticks.
 
Yeah, obviously those radio licenses will sell since they're worth something. Sadly I think AC will get 5 brand new religious stations!

If any other radio group besides JVC buys Atlantic's 5 stations, Wild is most likely gone for good, or it will drop dance completely and go straight CHR or even urban. 103.7 The Shark will stay since it's the most successful and it's an established brand. And I think 98.3 will also flip.
 
Who Cares said:
Someone will buy the stations on the cheap and keep everything going (or make some format changes). It's not like their not going to broadcast anything on those sticks.
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Someone will wait until these stations foreclose or go into a bankruptcy auction and pay 10 cents on the dollar. Its obvious how these AM FM stations are losing value with each passing day. At this point with all the new emerging technology like what Sam Lit is doing and growing you would have to be a fool to buy an AM FM station even at 10 cents on the dollar. Debt ridden AM FM stations are in serious decline with business ad dollars being directed to where the desired consumers are going more and more like Google and facebook or what Sam Lit is doing.

Radio is a business, not a hobby.
 
Something's not right here.

The investors replaced management teams 10 months ago. In just ten months, payables triple...and that's with a jersey shore summer season, when everyone makes money. I might expect this from a management team that is inexperienced or incompetent, but the investors bring in the principles of JVC, who run a very successful cluster of their own and are no strangers to profitable radio. An additional million in debt in just ten months? Is this possible, with seasoned radio managers? And now Chapter 11, and the assets are up for sale. Would you say the JVC team did a bad job managing this cluster?

Now, let's say the Atlantic assets get bought up at the fire sale price of, say 2.5 or 3 million by, oh lets say JVC itself. Now, they own a 50k and two 6k FMs and 2 AMs, two tower sites and a 3 story commercial office building in Linwood, with no payables save their investment. NOW, would you say that the JVC team did a bad job, or did they just pull off the deal of the year?

Just wondering. It will be interesting to see who ends up with these stations. If it's JVC...well then I will feel sorry for Sun Bank and the original investors. They just got fleeced.
 
Dude, just because someone spent $600 to become an LLC doesn't mean they have hundreds of thousands or millions of dollars, nor in this economy can get the funding (especially after what just happened with Atlantic). Check the about us section, the two officers of the company are husband and wife. No knock on them, they might be very good web service people and might make a decent living, but they qualify to own a block of stations just as much as a part-timer, an engineer and a PD from SJ do...which we've just seen what that amounts to.
 
Who Cares said:
Dude, just because someone spent $600 to become an LLC doesn't mean they have hundreds of thousands or millions of dollars, nor in this economy can get the funding (especially after what just happened with Atlantic). Check the about us section, the two officers of the company are husband and wife. No knock on them, they might be very good web service people and might make a decent living, but they qualify to own a block of stations just as much as a part-timer, an engineer and a PD from SJ do...which we've just seen what that amounts to.
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Seriously, $600? In New Jersey, it's $125. Get your facts straight.

I can see your point about the officers, but that doesn't mean they can't hire qualified people, and who's to say they don't have investors? Look, I don't know either way, and if a major broadcaster like Clear Channel makes a bid, they wouldn't stand a chance anyway. All I'm saying is that it's interesting..even if they pick up just one station and not the whole lot.
 
Nick said:
Brett owned a hot dog stand before managing Atlantic, and we have seen how that experience helped him.
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LOL, true enough. So if a hot dog guy can do it, why can't a web designer or whatever it is they do?
 
I think the Kool 98.3 going to dance sounds too good to be true. There's a better chance for 967party.com to land on W244AS :-D
 
d21ofnj said:
I think the Kool 98.3 going to dance sounds too good to be true. There's a better chance for 967party.com to land on W244AS :-D
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Well, according to the blog post, they'd kill the format on The Shark and turn that into the dance station. Either way, a dance station WOULD be nice.
 
sjproducerguy said:
d21ofnj said:
I think the Kool 98.3 going to dance sounds too good to be true. There's a better chance for 967party.com to land on W244AS :-D
Click to expand...

Well, according to the blog post, they'd kill the format on The Shark and turn that into the dance station. Either way, a dance station WOULD be nice.
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Hey now, I'm all for a dance station too, but at the same time, it needs to get the $$$ rolling in if this company is serious. The format needs to attract that typical "marsha brady" in her 20's with her clique. I do play a handful of eurodance and new material that's straight out of europe, but the mainstream dance as well as top 40 also needs to play in. I can see Wild is not their cup of tea, however, the mainstream wont stick to something "underground"
 
d21ofnj said:
sjproducerguy said:
d21ofnj said:
I think the Kool 98.3 going to dance sounds too good to be true. There's a better chance for 967party.com to land on W244AS :-D
Click to expand...

Well, according to the blog post, they'd kill the format on The Shark and turn that into the dance station. Either way, a dance station WOULD be nice.
Click to expand...

Hey now, I'm all for a dance station too, but at the same time, it needs to get the $$$ rolling in if this company is serious. The format needs to attract that typical "marsha brady" in her 20's with her clique. I do play a handful of eurodance and new material that's straight out of europe, but the mainstream dance as well as top 40 also needs to play in. I can see Wild is not their cup of tea, however, the mainstream wont stick to something "underground"
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If it's done right, they can bring in the revenue.

But...won't the community raise an uproar if it ever happens, and they DO kill the current Shark format?
 
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