Atlantic City/Cape May Equity Atlantic City To iHeart

[TheBigA]

And folks from Philly can "drag" their favorite stations most of the way to AC.

I think iHeart understands that.

 

[speer360]

Asset Purchase Agreement is Up at the FCC.

$2,000,000 Purchase Price

 

[ixnay]

Probably for sale to the highest bidder. Are you making an offer?

I was talking about WMID/WCMC/WEZW's simulcast of the Phightins off of WZXL. And no, I wouldn't make an offer even if I could afford it.

 

[Larry]

Are there lots of Atlantic City folks who go to Philly to shop or obtain services? The Philadelphia visitors to Atlantic City are not going to listen to the radio while there; nearly no hotel has bedside radios any more and nobody takes portables around with them these days.

I think there are a lot of south Jersey shore folks who go to Philly for sporting events, concerts, probably not shopping but to some small degree specialized health services.

 

[davideduardo]

Whenever my parents go on roadtrips, after not finding anything they like on the dial, they break out the phone and listen to WPRM. And they're almost retirement age.

WPRM is Salsoul in Puerto Rico. Is that what you meant?

 

[Identnut]

WPRM is Salsoul in Puerto Rico. Is that what you meant?

Yes. We are from Puerto Rico.

I live near Chicago and my goto Station for the commute is WOJO, but my family doesn't really stand that music.

 

[mightynine]

Asset Purchase Agreement is Up at the FCC.

$2,000,000 Purchase Price

Seems pretty cheap for 4 FMs, IMO.

 

[TheBigA]

Seems pretty cheap for 4 FMs, IMO.

Remember this is Market #154

 

[davideduardo]

Yes. We are from Puerto Rico.

Cool. I was VP and in charge of Salsoul's programming and sales from 1985 to 1992 and consultant on programming through about 2005... when Salsoul was #1 the entire time.

 

[deepstblu]

Are there lots of Atlantic City folks who go to Philly to shop or obtain services? The Philadelphia visitors to Atlantic City are not going to listen to the radio while there; nearly no hotel has bedside radios any more and nobody takes portables around with them these days.

Your idea is interesting, but I wonder if there is a client base.

There's one Northeast Philly new car dealer who advertises regularly in the AC market, and has for a few years. I suspect he's targeting visitors because he sponsors weekend traffic reports. You'd think that he'd stop if he wasn't getting results, but on the other hand nobody seems to be joining him.

 

[RadioGuy1864]

Remember this is Market #154

The purchase price is just a rounding error for iHeart. So much for "world class stations."

 

[atlanticcity1021]

Any idea when the sale will happen? Does this normally take months or something that happens fairly quick. Just curious.

 

[SoulCrusher]

There's one Northeast Philly new car dealer who advertises regularly in the AC market, and has for a few years. I suspect he's targeting visitors because he sponsors weekend traffic reports. You'd think that he'd stop if he wasn't getting results, but on the other hand nobody seems to be joining him.

I hardly ever listen, but let me see if I’m right … is he the best (boy, I guess)? 😂

 

[RadioGuy1864]

Any idea when the sale will happen? Does this normally take months or something that happens fairly quick. Just curious.

Usually around 90 days, unless there are FCC issues

 

[AceBiscuits]

Any idea when the sale will happen? Does this normally take months or something that happens fairly quick. Just curious.

It typically depends on FCC approvals and other factors. Even then, with a good number of these transactions, before the sale is finalized there may be a LMA (local marketing agreement) in place where the new owner will take over operations of the station.

 

[davideduardo]

It typically depends on FCC approvals and other factors. Even then, with a good number of these transactions, before the sale is finalized there may be a LMA (local marketing agreement) in place where the new owner will take over operations of the station.

Yep, think of it as "rent to own" where, often, part of the LMA fee is applied to the purchase price.

This allows the buyer to take over, even if the FCC takes longer than usual to approve. Speaking very broadly, there can be details that have to be fixed in the transfer that are just procedural but which can slow the approval down by several weeks to several months.

 

[davideduardo]

The purchase price is just a rounding error for iHeart. So much for "world class stations."

You can have a "world class station" in Gaylord, MI, or Show Low, AZ. World class is quality of the operation, not the population of the coverage area.

 

[MVB13]

I've been to A/C you can't get Philly stations.

 

[gr8oldies]

as

What is really unfortunate is that nobody in the US has yet followed the European model of doing a format nationally with one super production and running it in every market nationally.

Many of the European operators use online services to provide local weather for every location, as well as ongoing news updates and other services that are local or regional. Many also offer streamed format variants, like music by decade or era, feature artist days, all ballads, etc.

The end product is what I'd compare to the difference between local TV trying to do a late-night show themselves vs. running one of the "Big 3" network national show with guest stars. Radio trys to reinvent the wheel in every market instead of having a strong national product.

I'd even recommend that (despite a fear of collusion) that the bigger groups try to trade off stations and own formats nationally. I'd rather have two or three national formats in every rated market than 5 in one market, none in another and one or two in others.

Radio is much better off in nations where this is done than where it is not. We accept national programming on TV, but not on radio. I never understood that.

You may recall ABC’s attempt to do “Superradio” in the 80s, with Dan Ingram and Rom Lundy on middays, local drive times, and talents like Larry Lujack and Dick Puritan weekends. It never launched

 

[davideduardo]

You may recall ABC’s attempt to do “Superradio” in the 80s, with Dan Ingram and Rom Lundy on middays, local drive times, and talents like Larry Lujack and Dick Puritan weekends. It never launched

Superradio had a number of issue. First was the more primitive technology available to make it work. Second was the enormous resistence of major market stations to "hand over" their whole programming to a third party. Third was the fact that stations with local DJs had a real contact with their listeners and their markets... which is not anywhere as big a factor today. Fourth, and perhaps the largest factor, is that nobody could own more than 7 FMs so an "in house" start with major markets and big stations was impossible.