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Creditor Takes Control Of WBEB 101.1 FM

Oscar Madison said:
Zell buys so-called "distressed properties" and is characterized in financial media as a "vulture investor" and a "grave dancer." So, how did the Bee get to be "distressed?"
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It would not surprise me that Jerry sought the assistance of Zell. Given the closeness of the industry, they are likely long-time acquaintances. If we believe the trades, Jerry was seeking a buyer over the last year or so. For lack of that, converting debt to equity and then selling makes good sense.

Restructuring is not bankruptcy. WBEB has great billing and likely the best BCF in the market.

And Jerry Lee is, in many senses the man who pioneered many of the successful procedures in easy listening radio.

In the late 60's, with folks like Marlin Taylor, he brought new structure, flow and sophistication to Beautiful Music. Then, when Beautiful was declining, he was about the most successful transitioner to light AC and then, later, to brighter AC.

All along, he spent more on visibility than nearly anyone, and taught us all the we need to remind passive listeners constantly of the usefulness of our station.

WBEB was at the forefront. The rest of us were followers, myself included.
 
Bob Eubanks said:
Well, let's have an objective look at billings. iHeartMedia has four of the top ten nationally. CBS has five. Hubbard is the other one of the bunch. Not surprising that the concentration is in New York and LA. Regardless, those billings tell me the large companies also know a thing or two about how to run a business in today's environment.
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Umm...Objective? There aren't even any numbers in here to back up what you asserted. This is getting silly.
 
Felix Unger said:
Umm...Objective? There aren't even any numbers in here to back up what you asserted. This is getting silly.
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Frank provided the link to the numbers and the source, which is the industry's most accepted provider of this kind of data.

WBEB and KYW are tied as the highest billers in Philadelphia. They rank 40th in total billings among the 13,167 commercial stations in the US.
 
DavidEduardo said:


Frank provided the link to the numbers and the source, which is the industry's most accepted provider of this kind of data.

WBEB and KYW are tied as the highest billers in Philadelphia. They rank 40th in total billings among the 13,167 commercial stations in the US.
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And what Frank decided not to post--as I assume he will do with this--was my debating the value of what he posted. This is his little world, apparently.

Bye, Frank.
 
Unregistered said:
And what Frank decided not to post--as I assume he will do with this--was my debating the value of what he posted.
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If the post to which you refer was the one he did approve in which all you said was "seriously, dude?" then your debating skills need to be called into question.
 
It's just interesting to me that in this thread, no one's arguing with industry numbers when they say WBEB is #1. But when those same sources say that other radio companies have been able to get the same results in other places, then the source has no value.
 
K.M. Richards said:
If the post to which you refer was the one he did approve in which all you said was "seriously, dude?" then your debating skills need to be called into question.
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No, KM. Since he didn't approve the post, then obviously it's a post you aren't able to see. Capiche? But thanks anyway for your invaluable input.

Seriously, nothing goes on here but bickering and picking apart other peoples' posts. This is almost as bad as the board was back in "the old days." I'm done engaging any of you. Have fun, children.
 
TheBigA said:
It's just interesting to me that in this thread, no one's arguing with industry numbers when they say WBEB is #1. But when those same sources say that other radio companies have been able to get the same results in other places, then the source has no value.
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You have forgotten rule #1 for these boards:
- Mom and Pop radio is good. Corporate radio is bad. IHeart and Cumulus are the embodiment of evil.
 
Unregistered said:
No, KM. Since he didn't approve the post, then obviously it's a post you aren't able to see. Capiche? But thanks anyway for your invaluable input.

Seriously, nothing goes on here but bickering and picking apart other peoples' posts. This is almost as bad as the board was back in "the old days." I'm done engaging any of you. Have fun, children.
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There is something I don't get: You asked for validation of the billing and ownership data that was referenced in a post. You got a link to that data from a credible source. And the credible source cited the industry expert in valuations, billing and other station data, BIA.

So what I don't get is why you think this is bickering. You asked for verification and you got it.
 
DavidEduardo said:
So what I don't get is why you think this is bickering. You asked for verification and you got it.
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Because the inconvenient facts he asked for are at odds with his position, so obviously the industry is conspiring against him to invent these facts solely for the purpose of discrediting him.

Why else would it be?

(Don't bother answering, "Unregistered". I'm being sarcastic.)
 
The owner is distressed because he took on a buttload of debt right before billings dropped off during the Great Recession. Debt at too great an interest rate. If not for the debt load WBEB would be ridiculously profitable. With the debt load, not so much.
 
pab said:
The owner is distressed because he took on a buttload of debt right before billings dropped off during the Great Recession. Debt at too great an interest rate. If not for the debt load WBEB would be ridiculously profitable. With the debt load, not so much.
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You are forgetting the fact that Jerry Lee has wanted to sell the station for several years... after all, he as been partner and manager for going on 65 years now.

Absent a buyer, trade the debt for equity and continue to look for a buyer.
 
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