From All Access 5/23/06CBS Names Markets To Be DivestedCBS CORP. announces the markets in which it will be selling its radio stations. The stations CBS plans to divest include those in AUSTIN, BUFFALO, CINCINNATI, COLUMBUS, FRESNO, GREENSBORO-WINSTON SALEM, KANSAS CITY, MEMPHIS, ROCHESTER, and SAN ANTONIO.CBS previously disclosed its intent to sell smaller-market stations, but had not announced which stations are on the block.
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CBS Plans to sell Cincinnati Stations
- Thread starter Allfirdup
- Start date
My Guess if Emmis wants to Expand its Midwest Holdings beyond Chicago, St Louis and Indy they will be a serious contender for CBS Cincy and Columbus
Wouldn't be surprised to see Randy putting money on Cincy. It would definitely be fulfilling for him to pick up all the Ohio stations. Timing couldn't be better to buy in Ohio, as business is off for many operators. I doubt that Emmis will be in the hunt, as Jeff Smulyan is fighting to go private and may be in for the fight of his life. Cumulus can't digest the entire CBS cluster, but they could spin some of the weaker players and add Columbus to their existing Ohio business. Entercom wants to play, but I suspect they will shoot for stations in better business climates...but picking up both Columbus and Cincinnati would be a good move for any player not already in Ohio if they see an upside for being in Ohio at all. Citadel could expand here, too. They already have a presence in Michigan and PA. Hey Dusty, Brian, Roger...get in there!
Citadel is a good possibility. Could the friendship between CBS and Citadel make that deal happen?
B
butterball1
Guest
Let's take the speculation one step further: Will the stations be bought as a group, or will they be broken off into single units? Which formats will survive and which will be blown up? Three heritage stations are in play; will they exist after the sell-off?
Well, let's see.... Who are the players???1. Randy won't have to scrape up the money. (Sam Zell)2. What goes around usually comes around. (Q102 started the Michaels phenomenon)3. Other players are Cox, Entercom, and Radio One. R1 can't absorb them all, has an $18M stick coming on line soon in this market, and will likely divest themselves of @$200M in portfolio in the near future. So I doubt that they are players. This market is shrinking in terms of revenue and is down from 26 to 28 in the last 5 years which makes it less attractive to Entercom.So my money is on Randy, with Cox to place.In terms of format...WUBE will stay as isWGRR will go in the direction it is already headed JACKWKRQ returns to glory (particularly under Michaels)WAQZ either gets spun by the buyer, or flips to spanish.
First of all:You don't "scrape up money" to buy four city-grade FM signals in market #28. You "scrape up money" to buy a pack of smokes or a sandwich at Subway. This requires some serious cash.Second of all
usty and his bunch have their money sunk into a bottomless pit called an AM music station, so there is no way they are getting in on this.Third of all:Sam Zell isn't getting back into radio. He is known in the business world as a "grave dancer": an investor who takes nearly dead companies, turns them around, significantly increases their value, and sells them at a substantial profit. Remember, Jacor was on its deathbed when Zell took it over. As soon as it got healthy and he found a buyer, he got rid of it. While CBS Radio has seen better days, it isn't even close to being in the shape Jacor was. The CBS cluster would command too high a price for Zell to buy it.Finally:Randy's new company, RadioActive LLC, is buying startup FCC auction block licenses in very small markets. I do not believe that the company has the means to buy the CBS cluster.I could be wrong, but I predict that the cluster will go to one company. I look for Entercom, Citadel, or Cox to get the stations.
usty and his bunch have their money sunk into a bottomless pit called an AM music station, so there is no way they are getting in on this.Third of all:Sam Zell isn't getting back into radio. He is known in the business world as a "grave dancer": an investor who takes nearly dead companies, turns them around, significantly increases their value, and sells them at a substantial profit. Remember, Jacor was on its deathbed when Zell took it over. As soon as it got healthy and he found a buyer, he got rid of it. While CBS Radio has seen better days, it isn't even close to being in the shape Jacor was. The CBS cluster would command too high a price for Zell to buy it.Finally:Randy's new company, RadioActive LLC, is buying startup FCC auction block licenses in very small markets. I do not believe that the company has the means to buy the CBS cluster.I could be wrong, but I predict that the cluster will go to one company. I look for Entercom, Citadel, or Cox to get the stations.
O
Onesimus
Guest
I think the CBS stations will be very attratctive to Cumulus...especially if they can use "OPM" or other peoples money to get it done. Emmis is a possibility, but I think they want to focus on larger markets. They've traded properties recently, but don't seem to be in a buying mode. Bonneville has the cash...but I don't think their growth plans are that ambitious. If the stations are sold in one big transaction, I'm putting my money on Cumulus with Citadel to place and Entercom to show.
Bravo! You said it best with the "scrape up money commentary" However, I do believe that while Sam may not want back in for the long haul, I do believe he could be a short to medium term investor for Randy to pull this off. Additionally, I think Randy has more money than most people think.I didn't consider Citadel.....my mistake. They very well could play for it.ouuc said:First of all:You don't "scrape up money" to buy four city-grade FM signals in market #28. You "scrape up money" to buy a pack of smokes or a sandwich at Subway. This requires some serious cash.Second of all
Thank you Phil for your input! Your wisdom shines through here as it did in OCB's classrooms. ;D
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