Quite possibly ... unless another shoe drops. It's a non-com, so in all likelihood Air 1 is a fit.
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BREAKING NEWS!...Star 102.5 sold in Buffalo
- Thread starter Tall Thin One
- Start date
Joel Hollander, former CEO of CBS when they sold off or traded everything under market #30 sits on the Audacy board of directors. It would not be shocking to see them revisit that strategy in their pivot to restructure. That makes Buffalo, Rochester, and all the other Audacy markets under #30 vulnerable. Only problem is—-who’s buying or trading in the mid-sized markets?
EMF is one of the few "cash" buyers out there, VCY is also looking to grow. Relevant Radio might look at a couple markets adjacent to their current stations. But they are all non-commercial operators.
Why else would they sell their top performing FM station if they aren’t planning on leaving the market entirely
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Townsquare can't buy another FM station, but they can absolutely buy the WTSS intellectual property and move it to 92.9.
To me, what may be more interesting is how the rest of the Buffalo radio dial reacts.
I didn't suggest TS buy another station. I meant they could flip low-rated WBUF to hot AC to fill the void left by WTSS leaving.
They wouldn't have to buy the IP. Hot AC is a pretty straightforward format that does not require the "Star" brand to work. Presumably WTSS's freshly out-of-work talent could be hired without having to pay Audacy for that either.
I don’t see why people think Audacy will bow out of all markets underneath Top 10 or Top 30 markets. Imagine Audacy selling out of places like New Orleans (where WWL prints its own money). just don’t see it
I said outside of markets smaller than Hartford
Talk to a tax attorney.
And Air1 doesn't have a Buffalo affiliate; the nearest one is in Syracuse(on the HD3 channel of WSYR/106.9, as well as a translator of same at 101.3 FM).
For the most part, those are Audacy's most profitable markets.
The line forms to the right, and it's rather short.
Nobody's buying for the multiples that Audacy might demand. EMF bought WTSS and WLFP for $15.5MM not based on revenue, but on stick value and potential reach. Memphis being radio market #51, Buffalo-Niagara Falls #59, it's conceivable that more value was given to WLFP than WTSS, but for math's simplicity, call the valuation for the two stations even at $7.750MM each.
In May 2004, Entercom-Audacy bought Buffalo rimshot signal 107.7 for $10.5MM, as the radio bubble inflated. Based on stick value, today it's probably worth 60% of the 2003 price, perhaps 50% ... certainly not the estimated $7.75MM that big signal (and highly rated) WTSS garnered. Not too many companies standing in line to buy a signal like 107.7, unless Audacy packages the signal or discounts it. WCJW-FM? WECK-FM? WBTA-FM? WXRL-FM?
Or perhaps Cumulus dips its toe in the water for 107.7 ... which would be an interesting historical reprise given that David Field and Entercom outbid Farid Suleman and Citadel for 107.7 in 2004. Then again, why buy 107.7 if 98.5 also is on the block? If 102.5 sold for an estimated $7.75MM, what would WKSE bring to Audacy's coffers? Guessing around $6MM.
There's also the previously noted suggestion on this board of Cumulus buying/trading for WGR-WBEN and WKSE. That seems too big a bite for Cumulus, especially at this point and in this economy. To accommodate such a transaction, Cumulus would probably jettison weak signaled 1270 WHLD, and 1120 WBBF with its respectable 98.9 translator.
Maybe the "King of Niagara County" would be interested, given that WHLD's COL is Niagara Falls and AM 1120 has a translator that actually covers Buffalo and the heart of Erie County.
Finally, what of tiny WWWS 1400 and its translator on 107.3, the overlooked property in the cut-out bin. Perhaps Buffalo State University might want it ... at the right price ... as a complement to WBNY, a mildly alluring thought given that the calls letters of 1400 were at one time WBNY. Plausible but doubtful, given that colleges are shedding radio stations like a Mainecoon sheds fur.
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Where I live in Philly that has to be a very profitable market for Audacy
Understood ... the theory was 1400 would be added to Buff State's ownership supplementing 91.3. As such, it would operate 91.3 + 1400 + 107.3. Unlikely, but a thought.
Back in 2012 EMF purchased WABB/97.5 Mobile Alabama. Then Cumulus swapped their 98.3 (a class C2 signal with good coverage of Mobile for 97.5 so K-Love went there. The urban format on 98.3 went to big class C 104.1 and the CHR format remained on big signal 97.5 as WABD. Don't remember all the details of that deal but Townsquare could swap its 96.1 for 102.5, EMF would get full market coverage on 96.1, Townsquare gets 102.5 and 96.1 would quietly go away. Is this doable?
EMF has publicly stated that they use a coverage based population number for pricing evaluation, as they don't care about "radio markets" but population.
I'd be surprised if it is worth over $3 million today, even with the translator.
With expensive News and Sports brands as well as high rights fees for the Eagles and Phillies. They make more money in Philadelphia, but with higher expenses the profit margins are lower. The smaller markets are cheaper to operate and have higher profit margins.
Is it doable, yes. Will it happen? Not a chance. EMF specifically wanted WTSS...
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