ENERGY 92.7 SOLD

[finallyescaped]

I'm surprised no one has posted this yet. Ed Stolz (former owner of KWOD in Sacramento, and current owner of 2 stations in Vegas) is buying Energy for $6.5 million.

Didn't the current owner spend about $30 million on Energy?

 

[weav]

I'm surprised no one has posted this yet. Ed Stolz (former owner of KWOD in Sacramento, and current owner of 2 stations in Vegas) is buying Energy for $6.5 million.

Didn't the current owner spend about $30 million on Energy?

32, actually. Special top-of-the-bubble price. The place was force-sold by Wells Fargo as #1 "bondholder"... Stoltz waved cash at them and they took it as a chance to recoup a fraction and get the bad asset off their books.

I for one welcome our new...

 

[airpab]

What a score for Stolz! That is a fire-sale price. Energy's signal is sufficient for the demos it tries to reach.

 

[radiosnfr]

The actual price that Flying Bear paid several years ago was $33.5 Million.

 

[jprg]

Hopefully the "Pure Dance" format will continue. It's also a very community-oriented station which is lost in today's radio. The little station that can.

 

[weav]

We're still waiting to hear...

 

[e-dawg]

Geez....are they going to move 92.7 from Russian Hill into Mt. Suturo?

I cannot hear 92.7 very well from my location.

 

[Radio3787]

Sadly, he'll probably turn it into Top 40. He loves that format. And the Bay Area doesn't have it. (KYLD is more Rythmic CHR)

 

[Radio3787]

Not to mention he's the biggest homophobe I've unfortunately ever met... :-\ Which is ironic since he lives in the Palm Springs market and now owns a dance station aimed for that demo.


RIP Energy. You were awesome. It's not you, it's the recession.

 

[DavidKaye]

RIP Energy. You were awesome. It's not you, it's the recession.

Well, not really. Bayliss paid $33 million for a 3600 watt station that is hemmed in so badly by adjacent signals that there are only a couple transmitter sites it can use. We're not talking $33M in Monopoly money here, but money that has to be paid off every month. Given the ability to reach only a small fraction of the Bay Area market, but yet competing for advertisers against dozens of other stations that can reach the full market, they're very screwed. The fact they were able to have positive cash flow at all is a miracle, but it wasn't enough money fast enough.

I really don't think a better economy would have mattered. And who knows, Stolz might keep the format.

People should remember that 92.7 is not a San Francisco station. It's a Class A station, a lower-power station designed to serve the city of Alameda. Other such stations are KKIQ in Livermore, KKDV in Walnut Creek, KUIC Vacaville, KCNS formerly Fremont now Sunnyvale or whatever, KFFG Los Altos, and KVVZ San Rafael (100.7).

 

[Tom_KYA1260]

Sadly, he'll probably turn it into Top 40. He loves that format. And the Bay Area doesn't have it. (KYLD is more Rythmic CHR)

"Sadly"? It'll be good if he runs it right, but I won't count on it.

 

[davideduardo]

Sadly, he'll probably turn it into Top 40. He loves that format. And the Bay Area doesn't have it. (KYLD is more Rythmic CHR)

Rhythmic CHR is quite simply CHR for a market that is rather heavily ethinc. Generally, where that variant works, the less rhythmic variant will not work.

Look at LA... two CHRs, both quite rhythmic and with nearly no alternative /rock leaning songs, and both with cumes larger than the population of any market outside the top 10.

 

[davideduardo]

Not to mention he's the biggest homophobe I've unfortunately ever met... :-\ Which is ironic since he lives in the Palm Springs market and now owns a dance station aimed for that demo.

"Aimed at that demo." What is the demo of the Palm Springs MSA?

 

[DavidKaye]

"Aimed at that demo." What is the demo of the Palm Springs MSA?

I'd assume he meant a gay male demo. With 35 gay resorts, a gay mayor, and now gay retirement villages. Palm Springs is the West Hollywood of the desert.

 

[davideduardo]

"Aimed at that demo." What is the demo of the Palm Springs MSA?

I'd assume he meant a gay male demo. With 35 gay resorts, a gay mayor, and now gay retirement villages. Palm Springs is the West Hollywood of the desert.

I kind of figured that was the case... but the market is well over 400,000, is nearly half Hispanic, and the city of PS is not even the largest city in the market... Indio and Palm Desert are larger, and La Quinta is now about the same size. So in perspective, while PS is definitely a lifestyle friendly town, the market as a whole is not predominantly a of that lifestyle. Of course, this says nothing about the fact that the operator in question is not friendly towards gays... a bizarre and unpleasant attitude for today.

 

[DavidKaye]

Of course, this says nothing about the fact that the operator in question is not friendly towards gays... a bizarre and unpleasant attitude for today.

Often it's the enemies who are easier to work with because hypocrites learn to smell money soon enough. I remember a porn store in SF that was owned by the Catholic Church because the property had been left to it in a will and the owner of the business had defaulted on lease payments. The business was taken as collateral and the Church found themselves selling blow-up dolls, etc. The arch diocese said nothing about it, either.