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Is Pappas Looking To Sell Stations!

R

RadioStarOne

Found this on the Greensboro board whats up with this? Any bay area stations on the block?


Pappas to Sell Stations - WCWG Greensboro probable
« on: December 19, 2007, 04:24:14 pm » Quote

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Got word today via RSS/Email Newsletters/Web that Harry J. Pappas is looking to spend more time with his family and enjoy; thus he is looking to sell most if not all of his stations. Forty Years of broadcasting and unfortunately no one to pass it on to.

See the rest of this post on the Greensboro board....RSO....
 
Harry has a son. I remember the first time I met Harry up Reno in 1994 and he had a new baby at home. So his son should be around 14 now.
I find it hard to believe that he would sell all of his stations. I spoke with him just a few months ago and he was in an expansion mode (for TV not radio).

Pappas Telecasting has a showcase TV station in Reno in a shopping mall and it is the cleanest TV station I have ever seen. Perhaps he is selling some stations and retaining some others. We need to hear from someone who knows the rest of the story.

Since this is the San Franciso board you are probally woundering if KTRB is one of the statiions he would sell.

So why now?

Newsperson
 
Here's the press release I received from Pappas TV two weeks ago:

FOR IMMEDIATE RELEASE

PAPPAS TELECASTING COMPANIES RETAINS
MOELIS & COMPANY TO ASSIST IN STRATEGIC REVIEW

Visalia, California (December 19, 2007) -- Pappas Telecasting Companies, the largest privately-held, commercial television broadcaster in the United States, announced today that it has retained Moelis & Company to assess strategic alternatives for the company. This process could result in the sale of a portion of its television assets.

In making the announcement, Harry J. Pappas, Chairman and CEO of Pappas Telecasting, said, "Due to the favorable results from our first round of strategic review activities in the spring involving our Spanish-language television assets, the company has retained Moelis & Company to assist with a strategic review of the company's English-language TV assets. We contemplate that this review will result in the sale of a number of our television station assets."

Mr. Pappas concluded, "After more than 40 years in the broadcast industry, the time has come to simplify my life and spend more time with my family."

About Pappas Telecasting

Pappas Telecasting Companies is the largest privately-held, commercial television broadcast group in the United States in terms of U.S. Household coverage as defined by Nielsen Media Research. The company owns 27 stations, including market-leading FOX, The CW, ABC, CBS, TuVisión, and MyNetworkTV affiliates, and operates four other stations pursuant to local marketing agreements, in most regions of the United States. According to statistics from Nielsen, Pappas Telecasting television stations serve more than 16% of all U.S. television households. In addition, the company owns or operates television stations in markets reaching nearly 36% of U.S. Hispanic households and 38% of all U.S. Hispanic persons age 2+. In total, Pappas owns or operates stations in 24 Designated Market Areas.

About Moelis & Company

Moelis & Company Holdings LLC is a relationship-based investment bank that provides advice on mergers and acquisitions, restructurings and other corporate finance transactions and manages investment funds which integrate capital solutions with the firm's advisory expertise. Moelis & Company serves a broad client base through its offices in Los Angeles, New York and Boston.
 
I'll provide a quick follow-up to the press release: note that it says television stations, not radio stations.

That said, in an email conversation I had with Mike Pappas of KTRB/860 several months ago regarding possible future programming on the station, he advised me that KTRB is locked into its current format through March 2008 due to contractual obligations; after that, changes could be made. Whether that might also imply that KTRB (or any other Pappas radio properties) could possibly be sold is open to conjecture.
 
I BELIEVE THAT ONLY TV STATIONS WILL BE CONSIDERED FOR FUTURE PACKAGING. KTRB (RADIO) WILL CONTINUE TO GROW AS ADJUSTMENTS ARE MADE.
 
djtalker said:
I BELIEVE THAT ONLY TV STATIONS WILL BE CONSIDERED FOR FUTURE PACKAGING. KTRB (RADIO) WILL CONTINUE TO GROW AS ADJUSTMENTS ARE MADE.
Click to expand...

Welcome to the board and thanks FOR YELLING IN ALL CAPS.

Please clarify what "future packaging" means. If you mean "Pappas will be selling television stations," then the company's press release already says that.

As to "adjustments" at KTRB, you appear, perhaps, to have "inside insight." Considering that KTRB is dead last in a Talk Radio horse race that already has KGO, KSFO, KNEW, KKGN, KNTS and probably a few others, continuing to grow might be a good path to follow.

KTRB could go all-sports and compete as an alternative to the KNBRs. (Only a two-horse race. Better odds of a finish in the money.)

It could also go Adult Standards and have the entire market -- and potentially tens (if not hundreds) of thousands of listeners from Sonoma down to Santa Clara County -- all to themselves. Good announcers are there for the hiring. An audience is awaiting. Promotions and marketing opportunities abound.

Perhaps you could bring in somebody from KMPH over in Modesto to consult on the transition.

Of course, the legions of Mancow listeners will throw a fit. But that's the price you'd have to pay.
 
BossRadioDJ said:
It could also go Adult Standards and have the entire market -- and potentially tens (if not hundreds) of thousands of listeners from Sonoma down to Santa Clara County -- all to themselves. Good announcers are there for the hiring. An audience is awaiting. Promotions and marketing opportunities abound.
Click to expand...

Indeed they could take a page from KIDD and go with adult standards. And Mike Cleary could simulcast!
 
DavidKaye said:
BossRadioDJ said:
It could also go Adult Standards and have the entire market -- and potentially tens (if not hundreds) of thousands of listeners from Sonoma down to Santa Clara County -- all to themselves. Good announcers are there for the hiring. An audience is awaiting. Promotions and marketing opportunities abound.
Click to expand...

Indeed they could take a page from KIDD and go with adult standards. And Mike Cleary could simulcast!
Click to expand...

Hey, Carter B. --

Do you still remember how to find your way to the fourth floor at 1700 Montgomery Street? They've rearranged things a bit (there's a TV studio in there now, too) but it's still in the same basic locale.
 
The "contracts" Mike is referring to are likely Mancow, which was mentioned as going away. TRN gave Mancow away for little money or in some cases free to stations they thought he could do well on, with contracts writtent to require the usual rights fee starting the second year. I forget when exactly KTRB started in SF, but hasn't it been about a year? The rights for for market #4 has to be pretty steep for a ratings-less AM with few huge spot deals and next to no brokered programming. As for the other shows, they could pull them tomorrow and run the spots for 30, 60, 90 days, whatever. Perhaps Mike can let clarify what he means on this.
 
KJCB said:
The "contracts" Mike is referring to are likely Mancow, which was mentioned as going away. TRN gave Mancow away for little money or in some cases free to stations they thought he could do well on, with contracts writtent to require the usual rights fee starting the second year. I forget when exactly KTRB started in SF, but hasn't it been about a year?
Click to expand...

I believe it will be one year of Mancow come May. I think they turned the thing on at the beginning of April.

Mancow was the only thing KTRB has going for it in its entire schedule. If they're out to get ratings I think they'd be foolish to let him go, though it's likely the rest of the schedule is sabotaging Mancow's ratings potential anyway. When you figure that a lot of people set their radios to come on and wake them up, it is imperative that a station have something decent on at night when people set their radios and go to bed. KTRB doesn't. This is one reason so many stations with no ratings at night keep the programming going overnight. It's all for the mornings.
 
I understand the morning argument and all the potential and money to be had there, but if you're KTRB and there are dozen other talk/sports stations in the market each which loyal morning drive audiences, maybe your better bet is to get a good show on in middays that offers something different. From noon-3, the two big boys are basically running advice shows. If someone wants politics, where will he go? KNEW? Maybe Miller and O'Reilly bore him. Offer him a place to go. Yes, that theory applies to mornings, too, but what morning show are you going to come up with that isn't already being done?
 
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