• 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

Final Offer?

E

Element9

From Inside Radio

News - Wednesday, July 12, 2006
Final bids for CBS stations in 10 markets are due Monday.
That's what dealmakers tell us - and some intriguing names are in the rumor mill, like Citadel and Salem. And we keep hearing about returning owners who may view the CBS portfolio as a place to start building their new groups.

Word from reliable sources: Could Charley Banta & Company be interested in getting back into the Buffalo market? Contrarians say $100 million may be too deep even for his pockets.
-9-
 
13 Pieces of Silver?

Isn't Charlie Banta spending other people's money? He's a partner in Millennium Radio Group, and President of Mercury Capital Partners, one of the Millennium investors.

This is old, but pertinent.

It would seem to me that the real problem is convincing the rest of his partners that there's enough upside to the CBS/Infinity properties in Buffalo to make it a reasonable investment.

Plusses for the buyer right now are a soft media market, and Jeff Silver, who's "Little Napoleon" act has hampered revenue growth at CBS Buffalo. WBUF is a great signal in search of an audience. WYRK, WJYE, and WBLK are - or should be - cash machines.

It all depends on how stupid the bidding gets. CBS Buffalo's latest moves to cut expenses indicate that they're in "profit-taking" mode, maximizing income while waiting for the sale.

If Banta & Co. get CBS Buffalo, it will be interesting to see whether he'll be able to cherry-pick former employees from Citadel and Entercom stations to rebuild his new stations.

Citadel would love to get the CBS Buffalo & Rochester properties, but would have to do some divestment in Buffalo. They're also in the midst of the ABC acquisition (or being acquired by ABC, depending on who's issuing the press release). Can they scrape up the $$ right now?
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom