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CURTIS ACQUIRES THREE GREENSBORO CBS STATIONS

K

knozall

Guest
CURTIS MEDIA GROUP TO ACQUIRE THREE GREENSBORO, N.C. RADIO STATIONS FROM CBS CORPORATION

The Curtis Media Group has signed a definitive agreement to acquire three Greensboro, N.C.-based radio stations -- WSJS, WMFR, and WSML -- from their present owner, CBS Radio, a division of CBS Corporation (NYSE: CBS.A and CBS). WSJS and WMFR are two of North Carolina’s oldest radio stations. WSML primarily rebroadcasts the programming of WSJS. The Stations all operate with a News/Talk Format.

The purchase price of the stations is $8,375,000, and the transaction is subject to approval by the Federal Communications Commission. The Curtis Media Group anticipates continuing with the same Management at WSJS-WMFR, and WSML.

“We are delighted to have this family of great News/Talks Stations join our group of North Carolina Stations. We feel that along with our existing operation at WZTK, News/Talk 101, and our presence in the State Capitol with WPTF, we will be able to offer the listeners in the Triad an even better list of choices in the News/Talk arena” stated Donald Curtis, President of Curtis Media Group

The Curtis Media Group also owns and operates other North Carolina Radio Stations including WPTF, one of the nation’s leading News/Talk Stations. Other stations include WQDR, WBBB, WWMY, WYMY, WDOX, WDNC, WCLY, WKIX, WKXU, WYRN, WGBR, and WFMC, all in The Raleigh-Durham market. The newly acquired stations will join WZTK and WPCM in a five station cluster. Curtis Media also operates several web streaming stations and web sites including StateGovernmentRadio.com, Triangletrader.com, TrinagleHelpwanted.com, Triangletraffic, The Southern Farm Network, and TodaysObituaries.Com. The company also has ownership interests in numerous other North Carolina radio stations.

Curtis Media Group dates back to 1968, and is the nation’s largest single Shareholder radio broadcast group. The company is headed by Donald Curtis is the President and CEO, and Phil Zachary who serves as Executive Vice President and COO. Curtis is a member of the North Carolina Association of Broadcaster’s Hall of Fame

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW – a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution Group), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), digital media (CBS Interactive and CSTV Networks) and consumer products (CBS Consumer Products). For more information, log on to www.cbscorporation.com.
 
Go Don.... Good move into Greensboro..... Things falling into place for the FM to do something now??????

Z Man from a while back see had WSJS been sold ????

More java.. Going to be a long night folks......

Z Man

;D
 
Hey all first time posting. Hope I do OK on this thing.

Hey you folks at WSJS don't fret Phil Zackery is GREAT to work for! I have had the pleasure to work with him years ago when we had the WMAG WDCG WWMG 1-85 radio group!!!! He knows his stuff for sure and will be a fresh breath for you folks at WSJS. Curtis has a good group of broadcasters that have really done a huge job in the Raleigh market. He will do the same in Greensboro too. Good to have some local owners in town (3 now) Maybe this is a sign of a return of local radio now that Clear Channel in on the block.

Happy Thanksgiving to all you radio TV folk out there!

Dr. Proctor
 
Now that CMG has officially bought WSJS/WMFR/WSML, here's a possibility for ZTK and KXU:

Oldies on WZTK (to cover the eastern Triad where Majic 94.1's signal doesn't reach), and keep its affiliation with Wake Forest and the Panthers; although ZTK's signal reaches parts of the Triangle, they should be able to keep Y102.9 in Raleigh intact.
Revive the '80s format from the former 102.9 Star-FM on WKXU (after moving it to Hillsborough) and add it as a full-fledged N.C. State affiliate (to back up AM flagship WPTF; although State has an FM affiliate (N.C. State student-run station WKNC 88.1), they only air the women's basketball games; the men's basketball games and the football games are only on WPTF).
 
WOW! This is great news for WSJS. Phil Zachary is a winner! There are some other really good folks at Curtis, too. Best wishes to you all on this move. Wonderful to have more LOCAL!!!! Radio is alive and well in the Triad.
 
Java sure is good... ::) What would be hot would be the station grooping as I have mentioned here before. Again 94.1 and 101.1 join together LMA or what ever to be The Carolina's Oldies Super Station. WSJS and WPTF the Carolina's News Stations. That would be one HOT set up. Think of the sales opertunity and combo possibilities! HUGE folks.

Well goin to Starbucks java runnin low.

Aahhhh yea all good stuff all good!!!!!!!! Sweet yea!!!!!

It will all be good stuff stay tuned I told u 4 week a got to stock up the the JAVA..

;D

Z Man
 
Phil Z is a fantastic person and a great boss. I was his college roomate (and wingman) and later worked for him in Raleigh. I remember once when we leg wrestled in the station lobby over the last jello shooter at a book celebration party. You'll love working with him but don't ever take him on physically. I could barely walk for a week!

Ask him about that sometime, he tells that story all the time.

R.Mound
 
IMO this is a brilliant move (but not if they change 101.1 to music). With the SJS pick-up Phil and Don now own one of radio's most profitable formats in two large markets. AM News/Talk in the Triad + AM News/Talk in the Triangle + FM Talk that covers most of both = format exclusivity and guaranteed revenues for many years to come. Think about it. They now have leverage over every syndicator and can cherry-pick whatever they want. They have the only radio news operations in two top-50 markets. If they don't blow the chance, this is one of the best moves I have seen in local radio. And from what I've seen over the last couple years, they will try to do it right with real talent. Curtis has taken a lickin here in the past and much has been deserved. But look at that company now (and I hear from insiders there's internal buzz about more big news to come in 2007).
 
This could be a great move for Triad radio listeners. It does open lots of opportunities for the NT world, and I don't see them changing ZTK to oldies.

Don't know about the Curtis benefits package, but the CBS package was a great one for employees. It will be interesting to watch the management transition!
 
Maybe just maybe CMG will bring back the local programming like "Opinion Please", w/Dennis Elliott and maybe a sportstalk program like the old "Sports Fanatics" with Matt & TJ
 
ShoNuff said:
Maybe just maybe CMG will bring back the local programming like "Opinion Please", w/Dennis Elliott and maybe a sportstalk program like the old "Sports Fanatics" with Matt & TJ
Click to expand...
God, that would be FABULOUS!
 
Of the 8.375 million purchase price being paid for the "3 Greensboro stations", it would be interesting to know how the individual stations are valued in the purchase.
Anyone willing to make an uneducated guess? I would think the value of WSJS would be 7 mil+ with the remainer split among WSML and WMFR. Does anyone have any info? The Triad is fortunate to have a group like CMG buying the stations rather than some conglomerate that has no inkling about NC broadcasting.
 
Amen Brother! I'm also a little shocked at the price...it was originally SO much more. I'm really surprised Centennial didn't buy them. But, good for Curtis!
 
Good jave aaaaahhh.... oh I'm typing... sorry.... Well regarding the sale price WJSJ has lots of property with it ... and billed around 10th in Miller Caplin thingie do the mulitples!!! Not sure about WSLM's property and revenue. WMFR has nothing but a lease and doin 30K or so in monthly billing wow probably have to bring your own java to work..heheheh.

5th and Summit has room for several stations???? Like an FM???? Nice BIG JAVA stuff there!!!! Yea!

Now where is the creamer????

Z Man

;D

Happy Thanksgiving to you all and to all a java night........
 
I hate to rain on everyone's parade, but I'm not so sure this is a positive development.

Employees at WZTK were originally told when it launched that it was being moved to Greensboro, but that never happened -- leading to the departure of several who were tired of the commute. This happened LONG before CBS even considered selling their Trombo.

I've heard there have been problems selling WZTK -- and in fact, they dropped traffic (word is, because it wasn't being sold).

WPTF is a shadow of its former self. I listened last week. Some of the anchors just sound bush league.

Also -- AP Radio news for a network? That's usually what el cheapo stations run, because it can be bartered. What about a outstanding news network -- like CBS? And does that mean that CBS will go away on WSJS?

I'm all for local ownership -- but it doesn't ALWAYS mean an improvement. Especially when you're owned by a powerhouse that gets News/Talk like CBS.

One other observation: when CBS picked up the trombo it was valued somewhere north of 30-million dollars. This deal is for over 8-million. What's happened in those six years?

OK -- I'm sure everybody will pile on!!!
 
Yea over the last 6 years WSJS has lost revenue then ranked 4th in the Miller caps.. Now 10 th to 11th in revenue ranking. Upper aged demo of 65+ being the core makes for a hard sale. Why do you think WMQX droped Oldies???? Same reason they 2 were ranked in the 9th to 11th area in Caplin game too! THey with WMAG were nip and tuck in that game 5 years ago. Now MAG in in the 5th to 7th area locally in the Caps!

Multiples it is all about mutliples my friends now crank up some more modulation!!!

Z Man

;D

Needin Java
 
Glen Scott aged. Max Meeks aged. WSJS started doing talk shows for advertising money. WSJS Management got greedy with the Wine Festival. WSJS Management slowly pissed off a number of their good salespeople who left. Station sounding like cr-p! A few things like that.
 
If Curtis plans on keeping Tom Hamilton it will be more of the same. BUT...maybe they're just keeping him for the interim until they get a handle on things. If so, good management might be able to get it all back on track.
 
Mask Man isn't that the entire problem with BIG RADIO GROUP all the good sales people have mostly left Look at the Clear Channel RALEIGH CRASH... Rev Down over 50%. Dick Harlow will vastly improve that preformance after 3 to 5 years of effort.

Looks like one of the stock holders of that big group whould have looked at history. One of the biggest heavy equipment dealers in the world almost went broke filed chapter 11 just because they ran off the vets. in the sales department!!! Product was GREAT no one to sell it GO FIGURE!!!

Oh well glad I sold when I did...

Z Man

;D
 
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