According to Tom Taylor, sold to Powell Broadcasting based in Iowa.
-
Get involved.
We want your input!
Apply for Membership and join the conversations about everything related to broadcasting.
After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
If you use a disposable or false email address, your registration will be rejected.
After your membership is approved, please take a minute to tell us a little bit about yourself.
https://www.radiodiscussions.com/forums/introduce-yourself.1088/
Thanks in advance and have fun!
RadioDiscussions Administrators
Double O Panama City sold....
- Thread starter Dock Trash
- Start date
In Panama City, Double O Radio's four FMs are sold to Powell Broadcasting. Double O was originally founded by the late Bob Sherman and Bob Pittman (now the chief of his own Pilot Group and of course CEO of Clear Channel). These days, the ownership group includes Mayo Stuntz, Paul McNicol and Howard Lipson. They’re selling their Panama City cluster to a subsidiary of the Iowa-based Powell group. Powell is acquiring rhythmic "Hot 107.9" WPFM, a Class C1 licensed to Panama City, Florida. Everything-country "103.5 Hank FM" WAKT, a C1 licensed to Callaway. Variety hits "105.1 Bob FM", WASJ, Panama City Beach, a C2. And classic rock "Arrow 95.9" WRBA, a C2 licensed to Springfield. Double O will still own two FMs in Columbia, SC. Broker on the quadruple-FM sale - Kalil & Company.
What's the sell price?I read 950,000.00.
Powell does well out in Iowa--good broadcasters. IIRC, Double 0 paid something like $4 million or $5 million for the cluster, didn't they? Looks like they took a helluva bath.
Four FMs (2 C-1s & 2 C-2s) for $950K--that's $237,500 each. That's where the station selling market is nowadays for what appears to be "stick value."
What's the take on your end of town, Charlie? Was there any cash flow in these four stations?
Four FMs (2 C-1s & 2 C-2s) for $950K--that's $237,500 each. That's where the station selling market is nowadays for what appears to be "stick value."
What's the take on your end of town, Charlie? Was there any cash flow in these four stations?
I went to Panama City this weekend and I hread this station before and listren to it online as I went to PC pertty good 6,000 watts of WBYW 104.3 The Bay once u get to CALHOUN/LIBERTY county line going west on hwy 20. I know WBYW isnt own by Double O Radio its own by Horizon Broadcasting they also own WTSM-FM Tallahassee 97.9 ESPN Radio.
I finally saw something about this in the News Herald and it doesn't surprise me one bit. They have been on auto pilot for some time and most of the stations they don't even bother voice tracking anymore. When you listen to Bob or Arrow they normally play the SAME SONGS in the SAME DAY PART or hour. If you listen on the graveyard shift the music is predictable. What ever happened to Selector day-part rules? I guess they knew what was coming and just don't care anymore.
Whoever bought them probably shares the same fate as Root Communications, Waitt Radio and now Double O. The cluster is cursed with Arrow being the only constant over the last decade and even it doesn't know what format it is anymore.
Whoever bought them probably shares the same fate as Root Communications, Waitt Radio and now Double O. The cluster is cursed with Arrow being the only constant over the last decade and even it doesn't know what format it is anymore.
- Status