Unless they do an LMA, where they take over just operations pending Commission approval, it could be several months before approval and closing.
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KEXP Buys KREV
- Thread starter TheBigA
- Start date
There was a Fox theater on Market Street in downtown San Francisco, but it was torn down in the 1960s and replaced by that architectural abomination known as Fox Plaza. The Oakland Fox had been vacant for years until restored around 2005 or 2006.
KEXP has posted about this on their site: KEXP -- Coming Soon to the Bay Area
Some interesting bits:
"When the Bay Area station begins broadcasting in the coming months, we’ll be airing more or less the same programming on 92.7 FM San Francisco as you’ll hear on the radio at 90.3 FM Seattle. But within the first six months of operation, we’ll also launch a Bay Area local music show that will air regionally (similar to Audioasis in Seattle). We’ll also be doing our best to build relationships and connections with the local music scene that will help us define the evolution of the Bay Area station."
and
"So how are we paying for this? In short, KEXP has existing investment funds that are being used for the purchase and initial operation of the Bay Area station (more on that in a second). Your gift as an Amplifier or annual fund donor is not being used on any of the start up costs for the San Francisco station, and won’t be unless you specifically request it.
Here’s the backstory on that investment fund. If you’ve been with us for a while, you may recall that KEXP received a very generous bequest in 2017. A long-time supporter and listener named Suzanne left KEXP a little over $10M in her will. Suzanne’s gift was placed in a board-directed investment fund to support KEXP's future—offering both stability in the form of annual investment returns and flexibility to pursue big opportunities when they come up.
KEXP’s Board has approved withdrawing funds from this investment portfolio, which, along with additional funds raised from donors who specifically want to support this project, will be used to finance the purchase of the station and the first few years of operations.
Our modeling suggests that we will begin to see positive cash flow from this project within the first few years. That means we’ll be able to sustain and grow Bay Area-specific programming while also providing support for KEXP’s work in Seattle and worldwide. For that reason, we see this plan as a way of reinvesting existing funds in a different kind of asset—in this case a radio station rather than a traditional financial instrument like stocks or bonds."
Some interesting bits:
"When the Bay Area station begins broadcasting in the coming months, we’ll be airing more or less the same programming on 92.7 FM San Francisco as you’ll hear on the radio at 90.3 FM Seattle. But within the first six months of operation, we’ll also launch a Bay Area local music show that will air regionally (similar to Audioasis in Seattle). We’ll also be doing our best to build relationships and connections with the local music scene that will help us define the evolution of the Bay Area station."
and
"So how are we paying for this? In short, KEXP has existing investment funds that are being used for the purchase and initial operation of the Bay Area station (more on that in a second). Your gift as an Amplifier or annual fund donor is not being used on any of the start up costs for the San Francisco station, and won’t be unless you specifically request it.
Here’s the backstory on that investment fund. If you’ve been with us for a while, you may recall that KEXP received a very generous bequest in 2017. A long-time supporter and listener named Suzanne left KEXP a little over $10M in her will. Suzanne’s gift was placed in a board-directed investment fund to support KEXP's future—offering both stability in the form of annual investment returns and flexibility to pursue big opportunities when they come up.
KEXP’s Board has approved withdrawing funds from this investment portfolio, which, along with additional funds raised from donors who specifically want to support this project, will be used to finance the purchase of the station and the first few years of operations.
Our modeling suggests that we will begin to see positive cash flow from this project within the first few years. That means we’ll be able to sustain and grow Bay Area-specific programming while also providing support for KEXP’s work in Seattle and worldwide. For that reason, we see this plan as a way of reinvesting existing funds in a different kind of asset—in this case a radio station rather than a traditional financial instrument like stocks or bonds."
That really explains the difference between non-profit and for-profit radio very well. As non-profit, they receive endowments that they can use for capital expenses like this. A for-profit station would take the profits and spread them to stockholders and top management. In this case, it goes for expanding service to like-minded music fans. That's why I always say AAA is a format better suited to non-profit, because they aren't beholden to advertisers.
The post confirms what some have thought for a while, that this station will just rebroadcast KEXP, at least for now.
Sounds like they will be branding as KEXP in the Bay Area. Probably will grab some soundalike legal calls like KDXP or KTXP or KEXT or some such and bury them.
KEXT sounds very similar to KEXP, and it appears those call letters are available. So they can call it KEXP for 59 minutes and 58 seconds an hour. The remaining two second belong to the legal ID, KEXT. Problem solved.
As reported today in Inside Radio:
www.insideradio.com
KEXP Reveals Initial Plans For San Fran Expansion With KREV.
Seattle’s noncommercial KEXP (90.3), known for championing independent artists, has a substantial online audience outside of the Pacific Northwest. Within the next few months, fans of the station in the
Well, if we're going to play that silly game ....
1) KEXB-FM should be available with a little work. "B" sounds even more like "P". (No fifth-grade jokes here, folks.) "B" = "Bay Area"
2) KBXP is on a CP in Texas. Perhaps arrangements could be made. Since the acquisition is coming with plenty of advance notice, there's no need for stealth here.
3) Note that KEXU-LP is in Oakland, part of the 96.1 share-time arrangement.
Not that anyone much notices, but keep in mind that the actual city of license is Alameda.
The mention of "San Fran" also grates, but that's Inside Radio's fault, not KEXP's.
Actually a rewrite of the Chronicle which was a rewrite of the page that Rusty Hodge pointed to yesterday.As reported today in Inside Radio:
KEXP Reveals Initial Plans For San Fran Expansion With KREV.
Seattle’s noncommercial KEXP (90.3), known for championing independent artists, has a substantial online audience outside of the Pacific Northwest. Within the next few months, fans of the station in the
A lot of us locals use "San Fran" as verbal shorthand. I do it, and I've lived out here for 40 years. (Maybe it's more offensive to locals who actually live in San Francisco.) I will agree that in print, especially in a headline, it's more of a "nails on a blackboard" offense.
I always just called it “The City” but never had a problem with anyone calling it “San Fran”.
South San Francisco is often called "South City", playing off "The City". There was also once a San Francisco radio station with that slogan, KKCY, which made a run at the KFOG audience from 1985 to 1987, and then imploding in January 1988 amid a contentious sale to James Gabbert that ultimately went through despite protests and an initial FCC denial.
As for "San Fran" - I associate the phrase with cybersecurity vendors breezily peddling their "solutions". When I was a CISO, I discovered that about 85% of cybersecurity sales and marketing people were full of horse poop and the other 15% were valuable and worth dealing with. There was no in-between.
I presume you mean "chief information security officer"
Yep. For an S&P 500 company.
Since you brought up Bay Area city nicknames, Dr. Don Rose of the late, great KFRC 610 during weather reports would frequently call Fremont "Flea-mont," San Jose "San Pantyhose-aay", San Rafael "San Raquel" (with extra emphasis/reverb on the Raquel). Finally, for a city not in the Bay Area, but within reach of 610's signal: Sacramento was dubbed "Sacra-tomato."
The bankruptcy judge has approved the sale, and the next step is FCC approval:
www.insideradio.com
The article says in the past Stolz has slowed down the process at the FCC, but the judge's approval makes any appeal unlikely.
Judge Approves Sale Of Stolz Stations; Trio Of Buyers Now Head To FCC.
U.S. Bankruptcy Judge August Landis has approved the sale of the Royce International Broadcasting stations, which went for a combined $6.4 million during a courthouse auction last month. In a
The article says in the past Stolz has slowed down the process at the FCC, but the judge's approval makes any appeal unlikely.
KREV-FM has filed to relocate their transmitter to Mt. Sutro.
TECHNICAL PARAMETERS
Facilities Proposed
Location (NAD83) 37° 45’ 19” N Latitude, 122° 27’ 10” W Longitude
Channel 224A (92.7MHz)
Tower Overall AGL Height- 297.7m
Tower ASR 1001289
Proposed Antenna 2-bay, ½ wave spaced non-directional
Antenna AGL Height- 60 m
Site AMSL Height- 254.2m
COR AMSL Height 314.2m
HAAT 275m
ERP 0.79kW
TECHNICAL PARAMETERS
Facilities Proposed
Location (NAD83) 37° 45’ 19” N Latitude, 122° 27’ 10” W Longitude
Channel 224A (92.7MHz)
Tower Overall AGL Height- 297.7m
Tower ASR 1001289
Proposed Antenna 2-bay, ½ wave spaced non-directional
Antenna AGL Height- 60 m
Site AMSL Height- 254.2m
COR AMSL Height 314.2m
HAAT 275m
ERP 0.79kW
Hmmm Big power drop (6000 down to 790 watts) offset by a increase in height and better location
Mod App on FccData.org for those who want to look.
Yup, big power drop. They may get a better location, but they're going to lose a lot of whatever punch that signal has currently. And that isn't exactly a whole bunch of punch, even now.
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