I don't see 105.3 stayin in the trust infect I can assure that when or if Cumules takes over they probably won't keep the KQOB LMA. However as for the two "spies" I don't listen to 105.3 because there is so much static it bothers me and the online spy I don't listen because...well...I just don't have time.
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Citadel Broadcasting, Please Collect Your Children
- Thread starter Moxie
- Start date
And I don't listen to either one because, quite frankly, it's wierd college rock stuff I just don't get LOL! On a bizarre scale of 1-10 both Spys are 11s.
OKC RADIO GUY: Whether or not the "alternative' format, or whatever, is sellable remains to be seen. I think that with the kind of community relationship Ferris established, it is. Contrary to your perception, most of those advertisers were not his friends before 2009. The Oklahoma Museum of Art or Blue Seven don't really have any business advertising on the mainstream format stations do they? And, "for the record" I don't think anybody ever said Ferris invented the Spy in Stillwater, but he certainly revived that moniker in 2009 after it was abandoned in 2004, and made something with it. You seem to have some personal animus against Ferris, which is more than a little hypocritical after your admonition concerning Sean Beall. What do you know about Ferris O'Brien's business sense or his "financial backing." Those aren't exactly facts as you said. If I were negotiating with a seller to buy a house and it appraised at 20% of the asking price there's no way the bank would agree to the loan. Ferris leased KINB, and I'm sure wasn't cheap, which isn't anything like your analogy about taking a car on a joy ride from a dealership. Ferris should thank them "instead of being a 2-year-old"? What are you talking about? The hundreds of thousands paid to Citadel/LB for the LMA could have put to better use elsewhere if promotion is what he wanted. I guess he should thank them for misrepresenting the condition and value of the property too and wasting everyone's time?
The value of it was never worth what citadel paid in 2002 3.1 mil and you are right about the bank part. Citadel is upside down on it. They should have sold it for 500k because it is worth that much they will never get 2.1 mil out of it.
"OKC RADIO GUY: Whether or not the "alternative' format, or whatever, is sellable remains to be seen. I think that with the kind of community relationship Ferris established, it is. Contrary to your perception, most of those advertisers were not his friends before 2009."
Proven failure in Stillwater. Sports paid the bills back then. Proven failure for the first 105.3 The Spy. They went to a Spanish format. Failure with Mr. Farris as he couldn't get the finacial record that made someone confortable with loaning him the bucks to buy the station.
"The Oklahoma Museum of Art or Blue Seven don't really have any business advertising on the mainstream format stations do they?"
Yeah. They most likely rely on foundations and people that like what they offer to pay the bill. It's not advertising to the masses, as in what radio does to pay the bills in the commercial radio world.
" And, "for the record" I don't think anybody ever said Ferris invented the Spy in Stillwater, but he certainly revived that moniker in 2009 after it was abandoned in 2004, and made something with it."
To some extent you're right. He just didn't make enough to pay the debt and the bills. That's why he didn't get financed.
"You seem to have some personal animus against Ferris, which is more than a little hypocritical after your admonition concerning Sean Beall."
I think you're confused. I never had a negitive thing to say about Sean. I have no problem with Ferris really, I just think he's acting like a 2 yr old about this situation, to his downfall. Regardless of how poorly he thinks he's been treated, he's only hurting his future potential of getting his format back on a terrestrial stick. I'm all for the little guy. Ferris was doing pretty good it seemed, but he just didn't have the backing together it seems to buy the thing.
"What do you know about Ferris O'Brien's business sense or his "financial backing." Those aren't exactly facts as you said. If I were negotiating with a seller to buy a house and it appraised at 20% of the asking price there's no way the bank would agree to the loan."
I couldn't agree more. He should go away happy that he got to play radio for a year for a minimal cost. The terms weren't appearently as he wanted them to be, so he said no. That's his call. Just don't sit around and complain when the real owner of the stick wants to continue the format (for some reason).
"Ferris leased KINB, and I'm sure wasn't cheap, which isn't anything like your analogy about taking a car on a joy ride from a dealership. Ferris should thank them "instead of being a 2-year-old"? What are you talking about? The hundreds of thousands paid to Citadel/LB for the LMA could have put to better use elsewhere if promotion is what he wanted. I guess he should thank them for misrepresenting the condition and value of the property too and wasting everyone's time?"
I think you're confused. Debt costs are very, very high on most medium to large market sticks. 105.3 is no different. It takes a ton of money to service the debtload if you don't already have it to spend outright. Do you realize how much of a burden it is on the current radio owners in this market? Again, I think Ferris knew some of these facts but chose to not really address them. If you want to play with the big-boys, you need to grow a set of 'em and hop on the same bandwagon as the rest of the current station owners I say. Me, personally... I wouldn't pay the appraised price for 105.3. It's just too weak to be useful for OKC coverage. It just seems to me that Mr. Ferris wants his toy but doesn't or cannot pay for it. Now he's pissy about his toy being taken away and taking it out on others that quite frankly don't deserve his wrath. It's clear to me that there are several that have contributed to this post that seem to be from his camp. Everyone is entitled to their opinion I suppose. But, people shouldn't be thrown under the bus when they didn't have anything to do really with Ferris' situation other than doing their job. That's all Sean is guilty of.
Proven failure in Stillwater. Sports paid the bills back then. Proven failure for the first 105.3 The Spy. They went to a Spanish format. Failure with Mr. Farris as he couldn't get the finacial record that made someone confortable with loaning him the bucks to buy the station.
"The Oklahoma Museum of Art or Blue Seven don't really have any business advertising on the mainstream format stations do they?"
Yeah. They most likely rely on foundations and people that like what they offer to pay the bill. It's not advertising to the masses, as in what radio does to pay the bills in the commercial radio world.
" And, "for the record" I don't think anybody ever said Ferris invented the Spy in Stillwater, but he certainly revived that moniker in 2009 after it was abandoned in 2004, and made something with it."
To some extent you're right. He just didn't make enough to pay the debt and the bills. That's why he didn't get financed.
"You seem to have some personal animus against Ferris, which is more than a little hypocritical after your admonition concerning Sean Beall."
I think you're confused. I never had a negitive thing to say about Sean. I have no problem with Ferris really, I just think he's acting like a 2 yr old about this situation, to his downfall. Regardless of how poorly he thinks he's been treated, he's only hurting his future potential of getting his format back on a terrestrial stick. I'm all for the little guy. Ferris was doing pretty good it seemed, but he just didn't have the backing together it seems to buy the thing.
"What do you know about Ferris O'Brien's business sense or his "financial backing." Those aren't exactly facts as you said. If I were negotiating with a seller to buy a house and it appraised at 20% of the asking price there's no way the bank would agree to the loan."
I couldn't agree more. He should go away happy that he got to play radio for a year for a minimal cost. The terms weren't appearently as he wanted them to be, so he said no. That's his call. Just don't sit around and complain when the real owner of the stick wants to continue the format (for some reason).
"Ferris leased KINB, and I'm sure wasn't cheap, which isn't anything like your analogy about taking a car on a joy ride from a dealership. Ferris should thank them "instead of being a 2-year-old"? What are you talking about? The hundreds of thousands paid to Citadel/LB for the LMA could have put to better use elsewhere if promotion is what he wanted. I guess he should thank them for misrepresenting the condition and value of the property too and wasting everyone's time?"
I think you're confused. Debt costs are very, very high on most medium to large market sticks. 105.3 is no different. It takes a ton of money to service the debtload if you don't already have it to spend outright. Do you realize how much of a burden it is on the current radio owners in this market? Again, I think Ferris knew some of these facts but chose to not really address them. If you want to play with the big-boys, you need to grow a set of 'em and hop on the same bandwagon as the rest of the current station owners I say. Me, personally... I wouldn't pay the appraised price for 105.3. It's just too weak to be useful for OKC coverage. It just seems to me that Mr. Ferris wants his toy but doesn't or cannot pay for it. Now he's pissy about his toy being taken away and taking it out on others that quite frankly don't deserve his wrath. It's clear to me that there are several that have contributed to this post that seem to be from his camp. Everyone is entitled to their opinion I suppose. But, people shouldn't be thrown under the bus when they didn't have anything to do really with Ferris' situation other than doing their job. That's all Sean is guilty of.
There's one other thing that really bothers me about Mr. Ferris' tantrums. It means that these current station owners are going to think considerably harder about letting anyone try to try-it-before-you-buy-it for anyone else that ever wants to try their hand at making something work. He has really ruined it for others too. That, quite frankly sucks.
valeofavoca said:OKC RADIO GUY: I guess he should thank them for misrepresenting the condition and value of the property too and wasting everyone's time?
I appreciate your defense of Ferris and The Spy more than you will ever understand but I dont think you have a clear understanding of how radio station sales go. I say this because radio stations are way overpriced and the asking price has been several times cash flow for a long time. I loved what Ferris did with 105.3 The spy sounded local and independent. BUT - I also know how these deals go. The owners of the station make it pretty clear what it will take for them to walk away. I honestly think Ferris knew the place was a dump to begin with but when you are passionate about something you make it work. Love is blind. Lease or whatever - it was a bad deal and there should have been some sort of protection in place to protect Ferris and the moniker if the deal did not happen. That was a bad decision to not have that in place. The Spy is surviing online and the supporters have rallied. Lets hope local advertising dollars will come there way, because I promise you the royalties to operate a web station legally are crazy and the .0016 per song per listener adds up quickly and that amount goes up each year.
I dont think Sean Beall is a bad dude. I think he is doing what his employer tells him to do. As is the case with most jobs, if you dont - youre toast.
Chris
www.radiookc.com
Very well put.
Radioguyokc, what tantrums has Ferris thrown? As far as I can tell, he's been going about his business. It's the behaviour of Citadel OKC's people that's disgraceful and childish. Come on, stealing shows? Stealing web content? Going around trying to sell ads saying 'Ferris sent me'? I didn't say that you said anything negative about Sean Beall. I'm saying that it is hypocritical of you to talk trash about Ferris after you threw a big fit when someone criticized Sean Beall, who is helping his boss rip people off... whatever his intentions. I understand that you think you know all about the details of Ferris' financial situation, but I reckon 2 million bucks would have materialized if KINB had been worth HALF that much. It has nothing to do with Ferris' business model or ability to raise revenue. If The Spy is doomed to failure because it isn't tailored to mainstream tastes and doesn't run Viagra and Army ads alll day then where did the 6,000 Facebook fans come from? It's the commercial model that you say pays the bills that's in jeopardy. Have you seen Citadel's stock? Terrestrial radio is doomed on it's current course, and all you guys know that.
Chris, I'm sure Ferris knew KINB is an overpriced turd and intended to make it work as a labour of love, as you say, but doubt he expected it to be practically worthless. As for the royalties... we'll have to wait and see, but I think I know what they're gonna do. Larry Bastida and the rest completely underestimated the support that exists for The Spy. I haven't heard a single ad on 105.3. Sure, it's a hard sell if you're unwilling to make relationships with the local community. Valeo
Chris, I'm sure Ferris knew KINB is an overpriced turd and intended to make it work as a labour of love, as you say, but doubt he expected it to be practically worthless. As for the royalties... we'll have to wait and see, but I think I know what they're gonna do. Larry Bastida and the rest completely underestimated the support that exists for The Spy. I haven't heard a single ad on 105.3. Sure, it's a hard sell if you're unwilling to make relationships with the local community. Valeo
"Radioguyokc, what tantrums has Ferris thrown? As far as I can tell, he's been going about his business."
Nahh.. He just sends others to do fit-throwing. It's from his camp. See post #1 on this very thread.
"It's the behaviour of Citadel OKC's people that's disgraceful and childish. Come on, stealing shows?"
I guess the real question here is who really owns the intellectual property. I don't know myself, but I'm guessing Mr. Ferris didn't think that far ahead, just like he didn't think far enough ahead to get a reasonable buy-out price in writing. His failure is that he let his passion to do what he wanted to do override good business sense. Due dilligence is a bitch but is necessary. He really didn't bother it seems.
"Stealing web content? Going around trying to sell ads saying 'Ferris sent me'?"
He used to work for them. Of all people, he should know their ways. It's a very well known fact that they do unethical and unscrupulous things all the time. Their the kings of it. That starts way up on their food chain and goes down. Again, I'm not a Citadel cheerleader. It just happens that they happen to be in the right this time. Facts are facts.
"I didn't say that you said anything negative about Sean Beall."
It sure sounded that way to me. Doesn't this sound like you're indicating I'm saying something negitive about Sean? "You seem to have some personal animus against Ferris, which is more than a little hypocritical after your admonition concerning Sean Beall."
"I'm saying that it is hypocritical of you to talk trash about Ferris after you threw a big fit when someone criticized Sean Beall, who is helping his boss rip people off... whatever his intentions."
Who owns the rights to the Spy? Shouldn't Ferris file a lawsuit if he thinks they are using his intellectual property? Has that happened? Hmmm?
"I understand that you think you know all about the details of Ferris' financial situation, but I reckon 2 million bucks would have materialized if KINB had been worth HALF that much."
I have no clue how much he has in the bank. That's not my concern. It appears he opted to not buy 105.3. That's the core of this discussion. One would assume he'd be like most of us and have to finance at least part of it. Am I wrong?
"It has nothing to do with Ferris' business model or ability to raise revenue."
I disagree. If it was the cash-cow you think the format is, he'd happily pay big bucks to have a signal. If 105.3 isn't worth it, there's others that can be bought for even more in the market. To my knowlege so far, he hasn't bought anything has he?
"If The Spy is doomed to failure because it isn't tailored to mainstream tastes and doesn't run Viagra and Army ads alll day then where did the 6,000 Facebook fans come from?"
Due to the type of format it is, most of his following was more than happy to join his Facebook. 6,000 listeners doesn't make a station. Sorry, it just doesn't. Maybe a net station, but not enough to pay debt and all the other bills for a real stick.
"It's the commercial model that you say pays the bills that's in jeopardy. Have you seen Citadel's stock?"
Yup. They overpaid for most everything they ever got, and got away with flushing their stockholders down the toilet. That corporation is ran by nothing less than what should be considered criminals. Again, I'm not their cheerleader.
"Terrestrial radio is doomed on it's current course, and all you guys know that."
Terrestrial radio is changing as it always has had to change. Radio was "doomed" back in the day when they got off network and had to locally program music. Radio was doomed when AM radio went down the drain and FM underground, etc. started becoming it's own viable product. Radio currently is it's own worst enemy. Corporate players have paid so much for stuff (because owners before them overpaid, but not as much, and on and on) that now the debt is almost more than what the properties can generate. We all know this. There will come a day that the corporate guys will have to take a loss for their lesser signals like 105.3. It seems like today isn't Ferris' day to get in on the fire sale. Truth is that it was never represented to him at fire-sale prices. If you don't like the price, move on, but don't cuss the vendor at the flea market. What's the point. No deal is no deal.
Nahh.. He just sends others to do fit-throwing. It's from his camp. See post #1 on this very thread.
"It's the behaviour of Citadel OKC's people that's disgraceful and childish. Come on, stealing shows?"
I guess the real question here is who really owns the intellectual property. I don't know myself, but I'm guessing Mr. Ferris didn't think that far ahead, just like he didn't think far enough ahead to get a reasonable buy-out price in writing. His failure is that he let his passion to do what he wanted to do override good business sense. Due dilligence is a bitch but is necessary. He really didn't bother it seems.
"Stealing web content? Going around trying to sell ads saying 'Ferris sent me'?"
He used to work for them. Of all people, he should know their ways. It's a very well known fact that they do unethical and unscrupulous things all the time. Their the kings of it. That starts way up on their food chain and goes down. Again, I'm not a Citadel cheerleader. It just happens that they happen to be in the right this time. Facts are facts.
"I didn't say that you said anything negative about Sean Beall."
It sure sounded that way to me. Doesn't this sound like you're indicating I'm saying something negitive about Sean? "You seem to have some personal animus against Ferris, which is more than a little hypocritical after your admonition concerning Sean Beall."
"I'm saying that it is hypocritical of you to talk trash about Ferris after you threw a big fit when someone criticized Sean Beall, who is helping his boss rip people off... whatever his intentions."
Who owns the rights to the Spy? Shouldn't Ferris file a lawsuit if he thinks they are using his intellectual property? Has that happened? Hmmm?
"I understand that you think you know all about the details of Ferris' financial situation, but I reckon 2 million bucks would have materialized if KINB had been worth HALF that much."
I have no clue how much he has in the bank. That's not my concern. It appears he opted to not buy 105.3. That's the core of this discussion. One would assume he'd be like most of us and have to finance at least part of it. Am I wrong?
"It has nothing to do with Ferris' business model or ability to raise revenue."
I disagree. If it was the cash-cow you think the format is, he'd happily pay big bucks to have a signal. If 105.3 isn't worth it, there's others that can be bought for even more in the market. To my knowlege so far, he hasn't bought anything has he?
"If The Spy is doomed to failure because it isn't tailored to mainstream tastes and doesn't run Viagra and Army ads alll day then where did the 6,000 Facebook fans come from?"
Due to the type of format it is, most of his following was more than happy to join his Facebook. 6,000 listeners doesn't make a station. Sorry, it just doesn't. Maybe a net station, but not enough to pay debt and all the other bills for a real stick.
"It's the commercial model that you say pays the bills that's in jeopardy. Have you seen Citadel's stock?"
Yup. They overpaid for most everything they ever got, and got away with flushing their stockholders down the toilet. That corporation is ran by nothing less than what should be considered criminals. Again, I'm not their cheerleader.
"Terrestrial radio is doomed on it's current course, and all you guys know that."
Terrestrial radio is changing as it always has had to change. Radio was "doomed" back in the day when they got off network and had to locally program music. Radio was doomed when AM radio went down the drain and FM underground, etc. started becoming it's own viable product. Radio currently is it's own worst enemy. Corporate players have paid so much for stuff (because owners before them overpaid, but not as much, and on and on) that now the debt is almost more than what the properties can generate. We all know this. There will come a day that the corporate guys will have to take a loss for their lesser signals like 105.3. It seems like today isn't Ferris' day to get in on the fire sale. Truth is that it was never represented to him at fire-sale prices. If you don't like the price, move on, but don't cuss the vendor at the flea market. What's the point. No deal is no deal.
I don't think Ferris or anyone else expected the format to be a cash cow, but 6000 + FB fans means a lot of people are listening... oh and they're online... so Ferris knows how many are listening at a given time. Try that on the air. I don't think anyone expected to get rich off the Spy. It is what it is. Ferris apparently does it because he wants to and can. You really think Ferris would send people to do his fit throwing? Ok, then you don't know him. I for one appreciate what he is trying to do for Oklahoma City. I don't like the same old crap, and I'm not the only one. If you want to eat at Chili's all the time and listen to Bon Jovi, fine. The shows: they are owned and trademarked by the DJs, not Ferris. Watch what happens. Who owns the Spy? That's the 500 lbs. Gorilla isn't it? We'll see. I know this: you can't sit on a trademark and do nothing with it for 5 years and expect to keep it. Three years of non-use is generally considered abandonment in US courts. And they know that too. Your admonishment was to Moxie back there about Sean. I'll speak more plainly. Don't tell people not to talk trash about Sean Beall and then talk trash about Ferris O'Brien. It's hypocritical and mean. What did Ferris ever do to you? I guess, you'll figure out what I mean, eventually. After looking at your other posts, I can see that you are the kind of guy who always gets the last word and doesn't really ever change his mind about anything, so I'm not going to bother.
I have been out of the OKC market for 3 years (and finally out of radio, thank GOD ) and it amazes me all this chatter over a station with a weak, I mean really weak signal. Regardless of the format if you dont have 6,000watts + in the market you will not survive period. Radio simply relys on advertising revenue, agreed? Ok so you have a njche format with a 600 or so watt station ? come on please ! I wish I had leased a signal that crappy for $$$$ its stealing candy from a baby. I dont know the guy you are speaking of (Ferris) or whoever invested in this train wreck but it was a really bad business move.
someone made a great point, radio is in a serious crash and burn and its the truth. The big operations that run the corp radio biz have NO clue about radio entertainment, current music industry output is boring,stale and all sounds the same, regardless of formatt. Even the so called Adult Hits or Classic Rock have such small music beds/playlist its boring (frankly a monkey can program stations now, oh actually they do ) . Stations for sale or lease are overpriced and the business is dieing,thats a fact jack.
Oh and just for giggles and grins LB is the anti-christ,lol just a fact if you ever met the guy or know him you know what I'm talking about.
trust me radio is tanking in every market just changing time so really get over this spy thing kiddies get your underground Rock off the internet and download it to the ipod,phone or whatever and enjoy.(6,000 facebook friends, lol so what, thats not enough cume to piss on )
peace, ex radio lover and ex inside radio guy
someone made a great point, radio is in a serious crash and burn and its the truth. The big operations that run the corp radio biz have NO clue about radio entertainment, current music industry output is boring,stale and all sounds the same, regardless of formatt. Even the so called Adult Hits or Classic Rock have such small music beds/playlist its boring (frankly a monkey can program stations now, oh actually they do ) . Stations for sale or lease are overpriced and the business is dieing,thats a fact jack.
Oh and just for giggles and grins LB is the anti-christ,lol just a fact if you ever met the guy or know him you know what I'm talking about.
trust me radio is tanking in every market just changing time so really get over this spy thing kiddies get your underground Rock off the internet and download it to the ipod,phone or whatever and enjoy.(6,000 facebook friends, lol so what, thats not enough cume to piss on )
peace, ex radio lover and ex inside radio guy
If Ferris holds the trademarks for the logo, name, shows, etc. he is in excellent shape. If the contract he signed with Citadel gives them the rights to any content he puts on their stations... he's screwed. He may be able to use it, but they'll be able to use it.
It's not impossible, but hard, to believe Citadel would use the content without consulting with one of their lawyers, first.
I haven't seen Ferris throwing a fit, and I don't think we should hold him responsible for a few rabid fads.
Regarding ratings & Facebook fan numbers: if I'm reading it right (& I may not be), KATT was the #1 12+ station in the last ratings period. (Amusingly for our discussion, the #1 station in OKC is owned by Citadel.)
If that 12+ number is a percentage of the total market of 1,125,600, their 6.2 in the most recent book would translate to 69,787 (& 2/10) listeners.
...That would be more than 10x the number of Facebook fans valeofavoca has been crowing about.
I wish Ferris well, & I've certainly reached for the stars & landed on my face (more than once)! He's got a chance to make it work online, & I sincerely hope it does. I don't think that's impossible.
While I think Citadel has been acting childishly (if the rumors are to believed... are they to be believed?), they are far from the only corporate broadcaster doing mind-numbingly stupid things with their signals.
I can't understand why they wanted to continue with the ID & format that was drawing minimal numbers... it's like trying to play like the losing team... why would you do that?
Or were the numbers better than I thought, just not enough to justify the asking price?
It's not impossible, but hard, to believe Citadel would use the content without consulting with one of their lawyers, first.
I haven't seen Ferris throwing a fit, and I don't think we should hold him responsible for a few rabid fads.
Regarding ratings & Facebook fan numbers: if I'm reading it right (& I may not be), KATT was the #1 12+ station in the last ratings period. (Amusingly for our discussion, the #1 station in OKC is owned by Citadel.)
If that 12+ number is a percentage of the total market of 1,125,600, their 6.2 in the most recent book would translate to 69,787 (& 2/10) listeners.
...That would be more than 10x the number of Facebook fans valeofavoca has been crowing about.
I wish Ferris well, & I've certainly reached for the stars & landed on my face (more than once)! He's got a chance to make it work online, & I sincerely hope it does. I don't think that's impossible.
While I think Citadel has been acting childishly (if the rumors are to believed... are they to be believed?), they are far from the only corporate broadcaster doing mind-numbingly stupid things with their signals.
I can't understand why they wanted to continue with the ID & format that was drawing minimal numbers... it's like trying to play like the losing team... why would you do that?
Or were the numbers better than I thought, just not enough to justify the asking price?
Good point NightAire. That's my whole point. 6000 isn't enough to pay the bills for over-the-air. And to V, back at ya. You're one argumentative person too. Let's just agree to disagree and cut the future clutter here. Your points are weak so there's no reason for me to change my mind. Its hard to be convinced when there's no real substance. I'm all for calling it a day.
You completly missed my point about FB fans. I think the KATT has 9000, the Ferris Spy has 6000.
I'm not saying that the Ferris Spy has 2/3rds the listeners the KATT has, but it does mean that a lot of people are listening for a niche format. I guess that's why Citadel OKC thought they could just swoop in and run with it hoping nobody would know or care who was running the show. KINB is a pile of steaming crap and everyone knows it. When Ferris leased it 90% of listeners were listening online anyway. I'm not sure stations in the Last Bastion trust are allowed to stream, so all they've got is that shitty signal and Ferris' hard drive from 2004.
well the "real" spy is now gone, now it's 105.3 The Martini
Yep.
@NightAire: From rumors I've heard (and of course, we all know a rumor and two bucks will get you a cheap coffee at Starbucks), the station itself wasn't worth the asking price. Not even close. And I have to believe that if that's the case, then Citadel/Last Bastion Trust knew that going into the deal. They would have had to have.
@NightAire: From rumors I've heard (and of course, we all know a rumor and two bucks will get you a cheap coffee at Starbucks), the station itself wasn't worth the asking price. Not even close. And I have to believe that if that's the case, then Citadel/Last Bastion Trust knew that going into the deal. They would have had to have.
And if that's the case, then a conspiracy theorist (such as myself) could have imagined that someone saw this as a win/win/win.
Ferris succeeds, buys the station, they sell Kingfisher for far more than it was worth.
Ferris fails, he's paid them a year in lease and they're not out anything.
Ferris succeeds, deal falls through, they take over, assert ownership of the name and the format, and he's done the footwork for them.
And once they realized the fans (and the advertisers, who are fans) weren't the ordinary, everyday radio listeners and weren't buying it one bit ... they ran it completely on autopilot, let some of the underlings set up Facebook/Twitter/web presences and allowed them to thumb their nose at Ferris, the Spy Staff, and all of the True Believers.
Only a theory, but given what happened, it seems very plausible. But that's my crackpot tinfoil hat opinionated opinion conspiracy theory.
Ferris succeeds, buys the station, they sell Kingfisher for far more than it was worth.
Ferris fails, he's paid them a year in lease and they're not out anything.
Ferris succeeds, deal falls through, they take over, assert ownership of the name and the format, and he's done the footwork for them.
And once they realized the fans (and the advertisers, who are fans) weren't the ordinary, everyday radio listeners and weren't buying it one bit ... they ran it completely on autopilot, let some of the underlings set up Facebook/Twitter/web presences and allowed them to thumb their nose at Ferris, the Spy Staff, and all of the True Believers.
Only a theory, but given what happened, it seems very plausible. But that's my crackpot tinfoil hat opinionated opinion conspiracy theory.
Yup. Don't look for any other sticks to pick up Ferris-FM either. I personally this "new" format is someones idea of a joke. Most of the people that would listen to this stuff reside 6ft under and stopped filling out diaries several years ago.
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