Citadel Portland For Sale?

[ArtSix]

Brokers are circulating an email claiming several Citadel stations are being put on the block. The list includes their Portland, Maine properties including WBLM.

 

[Oldbones]

Brokers are circulating an email claiming several Citadel stations are being put on the block. The list includes their Portland, Maine properties including WBLM.

What about their N.H. properties? Other than WOKQ/WPKQ the rest are pretty much dogs.

 

[ArtSix]

Didn't mention NH stations or Augusta stations either. Only Portland at this point.

 

[adbuyer1]

Art:

Are you sure it specifically references WBLM? Citadel DOES have to sell WCYI and WCLZ, along with other stations in a variety of markets, as a condition of FCC approval with its merger with ABC. These stations are being currently marketed. I would not be surprised if they were looking to Augusta and Presque Isle as well, but I don't think anyone was aware they were looking to get out of Portland completely.

 

[radiotony]

Anyone know who the broker is?

 

[adbuyer1]

I think it would be a no brainer for Entercom to come in and extend their WEEI brand into Portland, specifically on WCYI, as they have recently done in Western Mass. Three reasons

1. They're not buying any revenue on the station, so they would be basically paying stick value.
2. No programming costs what so ever.
3. Because it is talk, they can convert the signal to mono and extend the reach even further. No reason to be stereo with sports talk.

The only cost would be to open a sales office in the market. They would also be able to put the Red Sox on it once the contract with the Big Jab expires. JJ would have some issues to deal with, but it would seem like a winner for Entercom.