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It's Official, "Radio Disney" Is Ending on WQEW This Fall
- Thread starter MTNProductions
- Start date
Keep in mind that the company has had 15 years of revenues from the station, 15 years of use of the frequency for marketing Disney products. That adds up to something. So while there won't be any capital gain on the property (which now makes it a tax deduction), there has been income during time of ownership.
Sale, from Buck Owens, in July 1998 for $5.85 million.
To Disney, that is change you lose in the sofa. Far less than the cost of a single scene from a movie that is removed from the final cut.
Disney's revenue for 2014 is projected to be $47,998,000,000. They had already taken an impairment charge against all the AM stations so it is likely that the sale will not even produce a loss this year based on its depreciated / impaired value on the books.
Family Radio Acquires WQEW New York
Radio Disney has found a buyer for 1560 WQEW New York in the late Harold Camping's Family Radio.
For $12.95 million, Family Radio programming will return to New York City for the first time since the organization sold 94.7 WFME Newark, NJ to Cumulus for $40 million and 106.3 Mount Kisco, NY in 2013. At the time of the sale, Family made its intent known that it wished to acquire an AM station in the market.
Read more at: http://radioinsight.com/blog/headlines/90956/family-radio-acquires-wqew-new-york/
Radio Disney has found a buyer for 1560 WQEW New York in the late Harold Camping's Family Radio.
For $12.95 million, Family Radio programming will return to New York City for the first time since the organization sold 94.7 WFME Newark, NJ to Cumulus for $40 million and 106.3 Mount Kisco, NY in 2013. At the time of the sale, Family made its intent known that it wished to acquire an AM station in the market.
Read more at: http://radioinsight.com/blog/headlines/90956/family-radio-acquires-wqew-new-york/
The end of the world didn't happen, then the end of the world didn't happen again, then Harold Camping died.
Now Family Radio is acquiring a Mickey Mouse operation.
Now Family Radio is acquiring a Mickey Mouse operation.
K
K.M. Richards
Guest
Which will not be going Oldies.
A wasteful 50,000 watt signal now. That Disney pop could be heard for hundreds of miles at night and now it's hallejuah hymns and the eerie sound of a dead Harold Camping talking about "The Church Age" and "Rapture." I'd rather see it shut off completely, the transmitter donated to some museum or organization.
AM is ending up like shortwave - a place for obscure religious signals, Spanish and ethnic stuff. At least they could have placed WPLJ 95.5 on 1560 for the East Coast DXers to hear.
-crainbebo
AM is ending up like shortwave - a place for obscure religious signals, Spanish and ethnic stuff. At least they could have placed WPLJ 95.5 on 1560 for the East Coast DXers to hear.
-crainbebo
Do you really think many pre-teens were listening to AM radio out on the Atlantic at night? Remember, 1560 is quite directional and most of the signal goes out to sea.
Nearly nobody listens to skywave AM anymore. And those that definitely do not listen are people under 50. And those under 25 don't even know what AM is.
If anything was a waste, it was kids programming on a bunch of mostly defective AM signals. It took a while, but the Disney folks realized that the whole concept was flawed.
Why would a museum want a relatively new 50 kw AM transmitter? Nothing unusual in that.
Disney does not own WPLJ. Why would they want a female targeted soccer mom format on AM for mostly old-white-guy DXers?
Ya' think?
WQEW was one of the best standards stations I ever heard. They were true to the format and didn't mix in soft AC. What a pleasure to hear Jonathan Schwartz, who thankfully is still doing what he does best, and people like Bob Jones, Lee Arnold, Chuck Leanord and Rich Conaty working with the format. It's a shame it only lasted six years. Of course that was twenty years ago. To me, this music is timeless and should have a home on commercial radio, but I realize that will never happen.
Family Radio will have a nice signal with a dedicated, yet small group of listeners. I haven't listened to 1560 since December 1998 when they switched to Disney. I don't plan on listening when Family radio takes over.
I admit I am one of the few who still loves to DX and when I hear any kind of a music format on AM my ears perk up. CZFM in Toronto is one of the few left.
Family Radio will have a nice signal with a dedicated, yet small group of listeners. I haven't listened to 1560 since December 1998 when they switched to Disney. I don't plan on listening when Family radio takes over.
I admit I am one of the few who still loves to DX and when I hear any kind of a music format on AM my ears perk up. CZFM in Toronto is one of the few left.
G
Giacomo Siffredi's Twin
Guest
Actual License Value
Before anyone gets carried away with the reported $12.95 million as being the actual license value of WQEW New York, carefully read the asset purchase agreement. The sale price INCLUDES the real estate. According to The City of New York, the market value for that parcel is $3,504,000, as presently improved. That value is certainly significant, as it represents approximately one-quarter of the total consideration. Deducting the real property value reduces the price to $9,446,000 and it is this figure which represents the license value, transmitting equipment, and other items necessary, including furniture and other tangible goods presently situated at the Manhattan studios at 147 Columbus Avenue, to operate the radio station.
Before anyone gets carried away with the reported $12.95 million as being the actual license value of WQEW New York, carefully read the asset purchase agreement. The sale price INCLUDES the real estate. According to The City of New York, the market value for that parcel is $3,504,000, as presently improved. That value is certainly significant, as it represents approximately one-quarter of the total consideration. Deducting the real property value reduces the price to $9,446,000 and it is this figure which represents the license value, transmitting equipment, and other items necessary, including furniture and other tangible goods presently situated at the Manhattan studios at 147 Columbus Avenue, to operate the radio station.
Almost every AM today has a significant portion of its tangible assets in the transmitter site real estate.
Since a station requires at least one tower with a minimum of 1/4 wave radials, we are talking generally of a couple of acres per tower and that increases for lower frequency stations on longer wavelengths and for higher power / higher class stations on higher frequencies in order to meet radiation requirements.
Still, about 75% of the sale price of WQEW is for intangibles... mostly the license, but also the fact that the existing transmitter site is permitted and zoned. Other than the site, the transmitter, phaser, towers and miscellaneous studio equipment is likely worth less than $500,000 after depreciation.
AM stations that rent land are subject to replacement cost issues if the lease is not renewed, and that is often discounted from the price of stations that don't own their transmitter site.
It appears that Family Radio has a much better deal with WQEW than Starboard Media with its recent purchase of WNSW 1430 AM. Though WQEW is going for 12.9 million dollars compared to 10.1 for the other station, it has a much stronger signal. And Family Radio will apparently own the towers and the land they occupy. I believe WNSW is still using WPAT's towers, which are owned by Multicultural Broadcasting. So Starboard probably has to pay them rent. Apparently Starboard received little more than a license for the frequency.
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