But in any market... and even if owned by a cluster operator... a new format will take most of a year to get billing up to a break-even level. And in the bigger markets where a significant percentage of revenue comes from agencies, both local and national. And agencies tend to buy based on averages of many ratings surveys, not just one "good one".
Given the current recent financial issues facing a number of pubcasters including WBEZ, WAMU and WBUR, I would not include NYPM. And they would definitely not grossly overspend on a full-market FM like this.
Voz is essentially bankrupt. They can't pay the settlement.
As mentioned elsewhere, SBS is struggling to pay for its $7.5M purchase of KROI in Houston, spreading payments over an eight month period. The divestiture trust that owns KROI just filed for a second Extension of Consummation to get the deal to a July 1 closing date, so it would appear SBS is making the payments…otherwise the sale would have been scuttled by now. However SBS still faces first year expenses with a new format in a new market on a stand-alone signal in Houston, so that will be a money drain for a while.
Dolan has been trying to sell MSG network for years now. He wants out of the RSN business.
You know that Micheal Kay is the Yankees play by play man and works for YES. Why would he move to MSG for his radio show.
That was my suggestion. Even with whatever MediaCo's money issues are and Emmis's stubborn insistence on getting $50 million for 98.7, I see a three-way between these firms as a good option to explore. But Emmis needs to drop its price tag for 98.7 and include WLIB as a throw-in. The new buyer can then choose to keep it or spin it.
MSG Network, the Garden and its two main team tenants are so interwoven with each other that splitting them apart, either partially or completely, will be very complicated. Especially in this era where teams are taking control of their tv coverage. Jimmy Dolan can unload the arena and keep the Knicks/Rangers and network or vice-versa, but an MSG Network not co-owned with the teams won't be worth as much.
...why would MSG want to own a radio station? They are a content provider. If they wanted their own station they would have done it a long time ago. No incentive for it now.
YES simulcasts the ESPN radio show. YES doesn’t own the show.
I know that, but I wasn't talking about that.
It just further depletes the field to the point where Emmis prices 98.7 out of range entirely unless they lower the asking price to $20-30M. Because at this point I can't see anyone wanting to spend that much.
They have the money, but do they have the will or want? Especially when they have made a concerted effort in recent years to diversify their portfolio.
Again, I can't see any Godcaster wanting to spend that amount of money even if it's a full-market FM signal.
The only godcaster that could even afford 98.7 at a reasonable price is EMF, and the purse strings are tightened there. That’s not happening.
“We've been talking to a number of different people, and whoever gets the price, they’ll be the buyer,”Reminder that the only qualification Smulyan has for the buyer is price. He didn't say it has to be someone in broadcasting or even someone in this country. Just money. He has a specific reason for that price:
Emmis Sets Course To Go Private, With Plans To Sell New York Radio Stations.
Emmis Corp. is proposing a plan that will, if shareholders approve, see CEO Jeff Smulyan achieve his long-desired goal of taking the company private while setting it up for awww.insideradio.com
Assuming that a foreign investor is just going to magically plop down $50M for 98.7 is akin to a magical unicorn riding down from the sky on a path of sprinkle cupcakes. Foreign investors are more than capable of doing due diligence just like stateside investors and seeing if it's worth it.
And if it doesn't get dropped, it is Emmis's fault and their fault alone for creating an unsalable asset.
