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Journal to buy WNOX 100.3
- Thread starter radioboy
- Start date
Re: WNOX's new owner...
Bingo. They lost $10 million by not being able to sell the LMA for 100.3 to Citadel. Just looking to recoup some of that and the legal fees they've spent over nearly 10 years since.
Kent said:I can't imagine Dick really wants 100.3. Most likely, he wants to cash in on its sale.
Bingo. They lost $10 million by not being able to sell the LMA for 100.3 to Citadel. Just looking to recoup some of that and the legal fees they've spent over nearly 10 years since.
Interesting read. One thing that popped into my mind was that this almost looks like it could be seen as "an unauthorized transfer of control" by the FCC.
Both parties look like they are having a greed fest over one radio station.
I heard 100.3 last summer. They should have spent less time feuding and more time creating a quality product. It was not that great.
Both parties look like they are having a greed fest over one radio station.
I heard 100.3 last summer. They should have spent less time feuding and more time creating a quality product. It was not that great.
H
Hello Larry
Guest
DBC claims to have been shorted $10M in 2001. Now Oak Ridge FM is attempting to sell its primary asset for $6M. Mr. Dick could wind up with a judgment for $10M, twelve years interest, and attorney's fees. There may not be anything for M&M and Journal to recover afterward.
However this plays out, the story should be fascinating.
However this plays out, the story should be fascinating.
Oh, I agree. It's a very interesting situation.
It 's also not the first time these parties have had legal skirmishes. I found a couple of others
in the Tennessee court system.
Until December, my wife's folks lived in Madisonville, so the Knoxville stations came in pretty well.
While there last summer I listened to quite a bit of radio. 1390 (Wixie) had good coverage of a storm that came through the day we arrived. I also liked WKVL for classic country..and had to check out Michael Powers WRKQ on 1250.
WNOX..well, okay, but I just don't see the value in fighting for a decade over this station. In a somewhat similar battle, the FCC held that only the licensee could authorize a final sale, and I know stations that have sold, thus terminating the LMA or TBA contracts.
One thing I have read is Journal's asset sale agreement that is on file with the FCC and accepted for filing on Dec. 26. I have not seen contracts for the other parties.
Kind of sad, but then again..interesting to watch. The FCC will ultimately approve one or the other I suppose.
It 's also not the first time these parties have had legal skirmishes. I found a couple of others
in the Tennessee court system.
Until December, my wife's folks lived in Madisonville, so the Knoxville stations came in pretty well.
While there last summer I listened to quite a bit of radio. 1390 (Wixie) had good coverage of a storm that came through the day we arrived. I also liked WKVL for classic country..and had to check out Michael Powers WRKQ on 1250.
WNOX..well, okay, but I just don't see the value in fighting for a decade over this station. In a somewhat similar battle, the FCC held that only the licensee could authorize a final sale, and I know stations that have sold, thus terminating the LMA or TBA contracts.
One thing I have read is Journal's asset sale agreement that is on file with the FCC and accepted for filing on Dec. 26. I have not seen contracts for the other parties.
Kind of sad, but then again..interesting to watch. The FCC will ultimately approve one or the other I suppose.
I was amazed at the figure that Dick sold to Citadel. No wonder they ended up in bankruptcy.
BTW: is this same Pirkle that at one time owned WGOW in Chattanooga and sold it to Ted Turner?
BTW: is this same Pirkle that at one time owned WGOW in Chattanooga and sold it to Ted Turner?
Anybody have any new info. Seems like sales and takeovers happen quickly in most markets, but this one is moving at a snails pace. Is it due to these legal issues? I would've expected Journal to have already had a format in place and to take over before the closing via a temporary LMA. That's usually what happens in most of these big sales.
T
Tennessee Cowboy
Guest
Likely Journal is looking for assurance that DBC doesn't want the station. As a benefit, JP would have time to shelter assets from a judgment.
Tennessee Cowboy said:As a benefit, JP would have time to shelter assets from a judgment.
I am not a lawyer nor have I played on on TV, but once a suit is filed, (assuming JP loses) any moving of assets, except normal business, would be looked at very badly by a Judge. I have read the filings that were made accessible on the internet, and this could make several Lawyers very rich because of the level of Court it ended up in.
IMHO: Unless JP' s family have no interest in radio (or the LMA check), he should LMA 100.3. Then he could go to his mailbox every month or quarter and cash his check. 100.3 will have value for decades. If he wants to play the capitol gains game, make legal peace with the Dicks, then try to sell it.
I am still surprised he went talk rather than Country, Doesn't Ed still work there?
K
knoxside
Guest
Apparently, the final FCC approval for the sale of 100.3 to Journal just came out yesterday. And now let the fun begin...
H
Hello Larry
Guest
WMYL as ACM station of the year? Their production and music selection is weak. I have been trying to listen to them but am sure I couldn't stand that buzz/hum especially on a 100kw station.
They either have a poor engineer or can't afford one. If that's the case they do not have the resources to compete with Journal or Cumulus. With two well-funded corporations programming country on 100kw stations I see Merle slipping off into nothingness pretty quickly.
Oak Ridge FM certainly leads a charmed existence to pull this off under their legal circumstances.
They either have a poor engineer or can't afford one. If that's the case they do not have the resources to compete with Journal or Cumulus. With two well-funded corporations programming country on 100kw stations I see Merle slipping off into nothingness pretty quickly.
Oak Ridge FM certainly leads a charmed existence to pull this off under their legal circumstances.
kd4rnc1964
Quote
Sorry I forgot who owns who now. Its confusing.
Perhaps you should refrain from posting until you get your facts straight. Why would someone jump onto a board and proclaim their ignorance? If you value your opinion so hightly when you are "confused," imagine much more valuable it would be if you knew what you are talking about. This board has become a freak show!
Quote
Sorry I forgot who owns who now. Its confusing.
Perhaps you should refrain from posting until you get your facts straight. Why would someone jump onto a board and proclaim their ignorance? If you value your opinion so hightly when you are "confused," imagine much more valuable it would be if you knew what you are talking about. This board has become a freak show!
According to a report just out on RadioInsight.com, Journal has now closed on 100.3. Also, they are reporting in addition to the previous domain names registered for the country format at 100.3, Journal has now also registered www.classichits931.com. Unless it's a fake registration, it looks like the classic hits format many have wanted will land on 93.1 & country goes to 100.3. Should be interesting.
L
Lamont Lester
Guest
Wondering about the WNOX calls. They can work on both country and classic hits. Do they stay or do they go? Journal wouldn't make the mistake of dropping them altogether...
My guess is they go to 93.1. They work with classic hits & according to the domain registrations, it looks like the Q branding is staying with the country format. And I know what you mean about the WNOX call letters, but in all honesty, call letters truly mean nothing in today's radio world. And the only real branding associated with the NOX calls recently is news talk. (Anyone older who remembers the more heritage top 40 & country associations really aren't in any kind of target demo anyway). But my guess is they keep the calls & place them on 93.1.
Now if they do classic hits, wonder how it'll sound. Will it be pop based or rock leaning, & what will be the focus. Most classic hits/oldies stations today focus mainly on 70s/80s with a few big titles from the late 60s thrown in. Some focus more on 70s, while others have evolved into more 80s tracks. Should be interesting to see how they program it & position it.
Now if they do classic hits, wonder how it'll sound. Will it be pop based or rock leaning, & what will be the focus. Most classic hits/oldies stations today focus mainly on 70s/80s with a few big titles from the late 60s thrown in. Some focus more on 70s, while others have evolved into more 80s tracks. Should be interesting to see how they program it & position it.
L
Lamont Lester
Guest
BRH said:And I know what you mean about the WNOX call letters, but in all honesty, call letters truly mean nothing in today's radio world. And the only real branding associated with the NOX calls recently is news talk. (Anyone older who remembers the more heritage top 40 & country associations really aren't in any kind of target demo anyway).
I know. And you're right. But I get a knot in my stomach thinking about the possibility that those calls could go away again.
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