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Indy's 88.3 The Walk Sold.

X

xmusicmatt

Taylor on Radio reported:

"Olivet Nazarene University operates three other FMs in the Midwest under the branding of Christian CHR/rock "Shine FM." Those are "Shine 89.7" WONU, Kankakee, IL. Gary, Indiana-market "Shine 88.5" WTMK, and "Shine 89.3" WOUN, Morris Illinois. The station it's buying is the south-of-Indianapolis "Walk" WHZN, a Class B licensed to New Whiteland. Terms of the $1.2 million deal are $250,000 by closing, then a seller note for $950,000. $250,000 of that is due in exactly a year, with the balance of 700 grand payable through July 2016. The seller is Horizon Christian Fellowship of Indianapolis, and buyer Olivet Nazarene University is located in Bourbonnais, Illinois. "
 
How many years did they have to operate it before they sold it?
 
ChiefEngineer said:
How many years did they have to operate it before they sold it?
Click to expand...

Sadly they didn't last long...


The Walk is officially gone now.. Shine.FM started programming the station today 10/07/11.
 
ChiefEngineer said:
How many years did they have to operate it before they sold it?
Click to expand...
Ever since Reagan deregulated broadcasting, radio & TV stations are just a commodity now. They can be bought & sold like soybeans and pork bellies. No longer does a new owner have to hold on to a newly purchased station for three years to prove community service before turning around & selling it. Buy B-105.7 this morning and sell it this afternoon.
 
I'm not a fan of Reagan, but it was the Clinton administration and a Republican congress that did most of the deregulating. Clinton still defends his actions. I have mixed feelings. I think ultimately, it will take a few strong groups to save radio from becoming irrelevant (I.e. Iheartradio etc.). Time will tell.
 
"I think ultimately, it will take a few strong groups to save radio from becoming irrelevant (I.e. Iheartradio etc.)."

What's this I see - some one on this board saying something positive about corporate radio? ;)
 
Too much regulation is not good, but in this case radio was better off with more regulation. Smaller operators meant operators who were closer to the product.
 
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