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Journal Broadcast Group buys Khits and BOB
- Thread starter In_Tulsa
- Start date
Questions that come to mind:
1.) Will KHTT and KBEZ relocate to the Journal facility at the BA Expwy and Yale?
2.) Will KBEZ employ human DJs again?
3.) Will 99.5 switch formats?
4.) Will anyone lose their job?
1.) Will KHTT and KBEZ relocate to the Journal facility at the BA Expwy and Yale?
2.) Will KBEZ employ human DJs again?
3.) Will 99.5 switch formats?
4.) Will anyone lose their job?
G
G Thompson
Guest
History shows greater consolidation nearly always leads to fewer jobs.
My prediction: There'll be a blood bath at Renda, with a few key positions surviving the cuts.
My prediction: There'll be a blood bath at Renda, with a few key positions surviving the cuts.
To answer all of Glenn's questions:
1] YES. Parker is negotiating parking space rent even as we speak.
2] NO. I will prevent it until I get my royalty payment for the change to BOB two years ago!
3] NO. Not a format change, but name change. BOB-FM will be complemented by BUBBA-FM.
4] LIKELY. Only in government are resources consolidated and the same number of people stay, or people are added!
My best to all my friends at Renda. Some truly great folks there.
coop
1] YES. Parker is negotiating parking space rent even as we speak.
2] NO. I will prevent it until I get my royalty payment for the change to BOB two years ago!
3] NO. Not a format change, but name change. BOB-FM will be complemented by BUBBA-FM.
4] LIKELY. Only in government are resources consolidated and the same number of people stay, or people are added!
My best to all my friends at Renda. Some truly great folks there.
coop
Just a guess, but probably a good one, they will end up moving into the KVOO/Stewart Building at some point. I can't imagine they'd want to keep paying rent in their current building with a seperate operation when they could cram everyone into their owned facilites at KVOO. You have to know at some point they will consolidate humans. Who knows on format, but my guess is 92.9 at a minimum will find another format under Journal. It's a under-performer. I'd like to think this is a good deal for the Renda and Journal folks in Tulsa, but I think I know better. It might be rosy at their corporate level, but somehow they have to PAY for that additional expense of aquiring the stations. Humans are the most expensive thing to keep so I will predict they'll keep less of them.
Journal, Clear Channel, and Cox will now control 15 commercial frequencies in Tulsa: 92.1, 92.9, 95.5, 96.5, 97.5, 98.5, 99.5, 101.5, 102.3, 103.3, 106.1, 106.9, 740, 1170, 1430.
970, 1050, 1270, 1340, 1530, 1550, 94.1, 97.1, 100.9, 104.5, 105.3 are owned by others. At least 2 of those do not broadcast in English.
Yay consolidation!
970, 1050, 1270, 1340, 1530, 1550, 94.1, 97.1, 100.9, 104.5, 105.3 are owned by others. At least 2 of those do not broadcast in English.
Yay consolidation!
Yup. That really leaves Stevens, Perry, and Scamrock as about the only significant other broadcasters in Tulsa...
Glenn Quagmire said:
Plus 1300.
Judging by that price, I'd say they weren't exactly setting the world on fire as far as sales. I'm a bit shocked how low-priced the stations sold for...
While the world of consolidation in radio churns on, it's interesting that Tony Renda decided to sell any of his properties! Only a few years ago, they were acquiring a few stations, here and there, mainly near their headquarters in Pittsburgh, and a couple here in Florida. So is this a change in their strategy? From all previous appearances, Renda Broadcasting seemed to be one of the smaller groups determined to hold on to their properties. 
OKCRadioGuy said:
Actually, that's pretty good for today's prices. In fact, it's excellent. No, it's not what those stations would've fetched 5 years ago, but I can't think of two stations, even highly rated, in a market size similar to Tulsa going for anywhere near that recently.
Besides, Renda made out quite well when everything's considered. I believe they paid around $3 million for KBEZ when they bought it in '90, and they paid $1.6 million for KHTT (then-KAYI) in '93. That $1.6 million, by the way, was $5.4 million less than what Narragansett paid for those station in the mid-80's!
So, Renda sold the stations for roughly 3 times for what they paid for it, which is still a substantial gain even after the dollar amounts are adjusted for time, and made plenty of money operating them for quite a long time. Yes, KBEZ fell on hard times after almost 20 years of their ownership, but KHTT has been successful in every measurable way. They also took 106.9 from being a laughingstock with a 2.6 share that would've gone country had its original buyer, Riverside Communications, not gone broke to one of the most respected top-40 stations around.
There will be a lot of cost savings in the "back office" by combining these stations. My prediction is that John Phillips and Jet Black will move across the street to Cox. I think their GSM and a few sales people at Rhenda have good friends across the street at Cox. Journal also knows that they have to get KFAQ on FM if it ever is going to have a fighting chance. This is bad news for Shamrock. They are stuck with two stations that are not so great. Not much for them to buy and everybody else is maxed out BAD spot for them long term. My next prediction is that Rhenda OKC will sell.
shaneradio said:
I know there's a lot of speculation this will happen. For right now, it's just speculation, though. Journal hasn't tipped their hand yet.
There had been rumors for years that Journal was looking to expand. I'm sure they talked to Shamrock, too, and, for whatever reason, Shamrock declined to sell. Keep in mind that Shamrock has experience operating smaller clusters as it's a newspaper company and, thus, can't add a glut of stations in its home market (though it did buy a few bad signals there a few years back). Shamrock is also trying to build a four station cluster in Reno from rimshot CP's. I'm sure if they would have sold if they felt they were getting a good enough deal.
Renda (please note the correct spelling) has a larger and stronger cluster in OKC than it ever had in Tulsa. Of course, that doesn't mean they'll never sell, but it seems less likely that something will happen in OKC. Radio has never been bought regionally; so, what happens in Tulsa has no real effect on what happens an hour and twenty minutes down the turnpike.
John is a good guy. I remember him when he worked in Dallas. I think he worked for Star 103 before leaving Tulsa. He did the best he could working for Renda. (Got it right. Thank you for the spell check.) Tony ran off Pat Bryson for no reason. She made a lot of money for him. Not to sound bitter, but it is good to have Renda out of the market. My hope is that the good people find good radio homes. We all compete on the air, but at the end of the day, we are all radio people.
shaneradio said:
Jet's not going to Cox. There's nothing for him to do there, and as someone else mentioned, they're downsizing local programmers.
I agree with part of your statements about Shamrock...but they are really a newspaper company that just happens to own radio stations. They're successful in other markets, so they don't really have a need to sell their Tulsa stations. KTSO is a horrible performer, but KMYZ has a strong loyal following. If they wanted to sell, now would be the time to do it, but who knows if Journal would've been interested. With KHTT, they get the market's Top 40 leader and with BOB, they get a station with very low overhead. Good deal for them.
The speculation of them flipping 92.9 to KFAQ-FM is ridiculous and shouldn't be seriously considered. Journal knows that they are not beating KRMG and they know they won't beat them by adding an FM. Remember, a big reason KRMG added an FM in the first place is because of serious signal limitations north of Tulsa...KFAQ doesn't have that problem.
I'll agree it certainly filled a need... but why did:
WSB add 95.5 FM in Atlanta
KOMO add 97.7 FM in Seattle
WWL add 105.3 FM in New Orleans
KLBJ add 99.7 in Austin
WVNN add 92.5 FM in Huntsville
KNST add 97.1 FM in Tuscon
WBAP add 96.7 FM in Dallas
KNRS add 105.7 FM in Salt Lake City
KCBS add 106.9 in San Fransisco
WSRQ add 106.9 FM in Sarasota
WHIO add 95.7 FM in Dayton
WMAL add 105.9 FM in Washington D.C.
KMJ add 105.9 FM in Fresno
KTBB add 92.1 FM in Tyler
WOKV add 106.5 FM in Jacksonville
KNWZ add 94.3 FM in in Palm Springs
WGY add 103.1 FM in Albany
KOGO add 95.7 FM in San Diego
WOOD add 106.9 FM in Grand Rapids
?
Surely all of these stations (and many more, I'm sure; I just got tired of looking) didn't all have coverage holes...
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