It has already been said the CBS plans to sell off stations in smaller markets, due to a disappointing first quarter. It has been rumored and also stated on the New York board that CBS will be selling its stations in Austin, Memphis, and San Antonio. Can anybody here verify that WMC fm/am and WMFS may be up for sale?
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CBS Stations
- Thread starter StereoBrain
- Start date
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DeltaKing
Guest
No...at least not yet.CBS is looking at markets on a case-by-case basis, and Memphis still draws $$. That's what CBS will look at. Other clusters that are underperforming as far as revenue wil be the first to look at. If you're making money you stay, if not...you go. They're burning the furniture again at 1960 Union, but still making money for Les and Joel.You can't look at market size for something like this, as much as you'd like to. CBS has much bigger problem children in much bigger markets than this.
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FMSales
Guest
FM100 is not the cash cow it once was.
I could see Memphis being sold for the following reasons: (1) FM-100 has to be the only station sustaining that cluster; the other two are, more or less, dogs, and (2) Unless they can swing a deal with Entercom, their expansion opportunities in Memphis are pretty close to zero. However, as has been mentioned, FM 100 is still making good money, though not as much as before. So, if CBS were to sell Memphis, expect a hefty pricetag!
I has been said time and time again CBS wants to focus on larger markets. It's a corporate decision. Check this out;January 2005http://www.mediacurmudgeon.com/archives/2005/01/000016print.htmlApril 2006http://www.fmqb.com/article.asp?id=207697Or heres one from a few days ago;May 2006http://www.fmqb.com/Article.asp?id=219055One thing that all three articles have in common, is that CBS wants to focus more on big markets. Its not something that I personally want. Yes, I agree that larger markets have more problem childs. The NYC FM cluster is a DISASTER!!! and thats putting it lightly. The Memphis cluster is rumored to be on sale in the near future and the Memphis name has been brought up on other boards. I have no proof, thats why it's a "rumour." I was wondering if anybody here has any input.Delta King said:You can't look at market size for something like this, as much as you'd like to. CBS has much bigger problem children in much bigger markets than this.
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DeltaKing
Guest
The real question is who could pick them up? CC is maxed out here in Memphis (and I'm sure they're more than happy with what they have), Citadel would have to spin off an FM (probably WMFS), and may not have the cash flow now after the ABC deal. Flinn has no shot. Entercom has room, but do they have the $$, or do they swap with CBS? They really have no properties in markets CBS wants to be in that would make an even swap based on value that I can see. If that works, however, say goodbye to The Buzz...they won't want to compete with FM100 anymore since they own it. They could also move the Alt format to 94.1 (94X) and blow up 92.9.I think an outsider has the best chance at this. Cumulus? Maybe..and they do have some major market properties now that they could swap with CBS. CBS may also not want to sell to another big company so as not to help anyone they truly compete with. Here is my longshot to get the cluster: Simmons. They have the cash, and could stay well below ownership limits. Let's see how this pans out. Remember, just because Les said it, doesn't mean much yet. He's been saying this for 2 years, and nothing yet. This could take a couple more years to play out, and he's probably trying to rally the stock price by saying radio is for sale...Flame away...DK
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FMSales
Guest
Interesting scenario you describe. I will add this: Simmons does have the money and as I posted in another thread, the rumor has been floated they are adding (or maybe wanting to add) another property in the next 12 months.Delta King said:The real question is who could pick them up? CC is maxed out here in Memphis (and I'm sure they're more than happy with what they have), Citadel would have to spin off an FM (probably WMFS), and may not have the cash flow now after the ABC deal. Flinn has no shot. Entercom has room, but do they have the $$, or do they swap with CBS? They really have no properties in markets CBS wants to be in that would make an even swap based on value that I can see. If that works, however, say goodbye to The Buzz...they won't want to compete with FM100 anymore since they own it. They could also move the Alt format to 94.1 (94X) and blow up 92.9.I think an outsider has the best chance at this. Cumulus? Maybe..and they do have some major market properties now that they could swap with CBS. CBS may also not want to sell to another big company so as not to help anyone they truly compete with. Here is my longshot to get the cluster: Simmons. They have the cash, and could stay well below ownership limits. Let's see how this pans out. Remember, just because Les said it, doesn't mean much yet. He's been saying this for 2 years, and nothing yet. This could take a couple more years to play out, and he's probably trying to rally the stock price by saying radio is for sale...Flame away...DK
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FMSales
Guest
I absolutely agree.sjs1959 said:They need to fix their tower problems with AM730 forst...
According to John Rook's site, 35 stations are up for sale, and he lists Fresno, Greensboro, Hartford, Memphis, Palm Springs, Riverside, Rochester and San Antonio.
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