ESPN 98.7 FM to be no more come August 31, 2024

[Don CT]

I mean I've never square danced in my life. You sure you can't find a better partner?

I have 2 left feet I think we can make it work.

 

[luperm]

They can't really sell advertising until they have documented ratings. That takes several months.

You're assuming the buyer will be running commercials.

Plus, I am not sure what the rush is. The only people who actually care (aside from a few radio geeks) are the current ESPN 98.7 listeners. They're being told to tune over to 1050 AM or use the ESPN New York app. Whatever happens to 98.7 will have to happen from the ground up. The stage management of the format/ownership change will have no impact on the new station's chance of success. They could wait until the very last second. What's the difference?

 

[exdjted]

Whatever happens to 98.7 will have to happen from the ground up. The stage management of the format/ownership change will have no impact on the new station's chance of success. They could wait until the very last second. What's the difference?

Thank you. That's my point exactly. They're buying a signal. No brand, nothing to carry over. Whether it's Country, Christian, Hispanic or Khoekhoe (click language), they're starting fresh with NO advertisers or support.

 

[Theater of My Mind]

Can someone else please jump on the bandwagon and tell us how whoever buys 98.7 will have to start fresh from the ground up? I don't think there are enough members in this thread yet trying to top each other by way of explaining how all-knowing they are about this.

 

[exdjted]

Can someone else please jump on the bandwagon and tell us how whoever buys 98.7 will have to start fresh from the ground up? I don't think there are enough members in this thread yet trying to top each other by way of explaining how all-knowing they are about this.

Good to know that other people aren't allowed to post or have an opinion other than yours. I'm not trying to top anyone. I just want this thread to stop. When 98.7 sells, then it's news, Right now, it's just speculation.

 

[boombox4]

Look, Inside Radio has an article today showing station sales in the first half of the year totaled $60 million.

Radio Deals Totaled $60M During First Half, With Station Supply Said To Be Growing.

The radio deal market continued to hum along at a slow but steady pace during the first half of the year. BIA says 216 radio station sales were announced between

www.insideradio.com

Asking price for 98.7 started at $50 million. Ain't no way they're getting near that. There are interested parties, but buyers and sellers don't negotiate through the media, and they damn sure don't invite the general public to stick their noses in their business. When this sells, look for it to be closer to $25 to $30 million. Maybe a few bucks more, but stations aren't selling like hotcakes anymore. It will more than likely be an NCE or minority broadcaster, so deal with it.

Interesting article. I know that the 216 stations in question are varied in value, but the average sale is around $278K per station. Was it always that way?

 

[secondchoice]

IMHO It will never happen again but "worst to first" has happened in New York before. Who ever ends up with will have a plan to profitability or fund raising if religious or non profit.

 

[Rusty Muck]

Since when is everything kept a secret. Everything leaks at some point.

The sale of WPLJ to EMF was airtight and took everyone by surprise. The escrow payment was made in absolute secrecy three months before the deal was announced.

So yes, there absolutely can be a deal that was already agreed to and paid for long ago. It's abnormal but totally possible and plausible.

Cumulus Sells Six To EMF & Swaps With Entercom In New York & Indianapolis

A few additional details have come out from the FCC filings for these deals. Cumulus will retain the intellectual property

radioinsight.com

 

[secondchoice]

Interesting article. I know that the 216 stations in question are varied in value, but the average sale is around $278K per station. Was it always that way?

No.

At one time, Clear Channel (and others) were buying about any radio station for crazy multiples including a couple I use to work at.

If FM translators are in the count they are very "local" signals for the most part.

Radio stations used to sell for 2.5 to 3 times the billings. I have heard up to 10 times the positive cash flow. Now if there is a construction permit for a major increase of the 60 db coverage population wise that is another matter.

I believe Lance deals with this stuff regularly and David has access to lot of history.