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KXOJ buys again. Current Tally: 23 stations

G

G Thompson

Guest
Did you guys see where KXOJ (Stephens) bought 3 Entercom stations in Rochester? What is that? Market 50 or something? By my count they are up to like around 23 stations now.

I was just thinking...I'm not sure how much longer you can call them a small company since they have enough assets now to purchase any of the Tulsa clusters if they had the chance...I think this has the potential to change some things.
 
Wow! I wonder how much debt-load they are racking up? Personally I wouldn't think station-grabbing would be a good idea at this point. In the next couple of years we might have a nice fire sale so jumping in now wouldn't be too bright IMHO.
 
Actually, now is a good time to buy. If you can come up with cash or financing, the prices are very reasonable. (low multiples) There are many good bargains to be found in the current market. You will see many small or medium companies buying up signals over the next few months. Once the Clearchannel deal gets sorted out, there may be several good stations on the market. Keep in mind, it is not only about the analog signal, but the future value of the digital delivery platforms. Radio is still a good business, it is just changing. Anybody with a good business sense and financial resources would be welcome buyers.

I think the lesson for all of us is that NOBODY can run 1200+ radio stations. (plus TV, Billboards, etc...) NOBODY is that good. That was all about greed and bad business. The downturn in the economy is kinda like hitting the reset button on your PC.
 
Amen to that one. The only thing I disagree with is that I don't think we've hit bottom YET. The bottom dollar for stations is a bit further down the road. When that happens I agree it would be time to grab some channels. Radio isn't going to go away. Those that are putting out a good product and are intovative will still have good business model that will turn a profit.
 
It depends on the market. Some areas are feeling it worse than others. I think that we are actually on the up-swing as far as the national economy and the radio biz in general. Some of the larger makets may take longer to recover. As for KXOJ, Inc., it makes 100% sense for diversification into other markets and other formats. At one time, 100.9 in Tulsa was their primary source of revenue. Like every other radio company, they are spreading their interests. 100.9 is no longer the cash cow that it once was. 97.1 hasn't been a huge success either. New markets and new formats makes sense for everyone else, why not them? Kudos to them for taking the chance to branch out beyond their comfort zone and home maket. I know it will be a good long-term strategy for their company. Just don't ever go public or hire anyone from the Mayes family to run your stations.
 
Generally I agree with what's been said in this thread... EXCEPT:

Keep in mind, it is not only about the analog signal, but the future value of the digital delivery platforms.
Click to expand...

I hope you're not talking about HD...
 
The downturn in the economy is kinda like hitting the reset button on your PC.
[/quote]


I hope you're right. If it was really that easy I'd be punchin' that thing like a monkey on crack. Gas prices would be back at .25 cents a gallon, Der Wienerschnitzel would still be on Peoria, Bells and the stock car track would still be at the fairgrounds, Randi Miller would be out on her know-it-all ass and I would be at Pennington's drive-in ordering a fried shrimp dinner w/rings, large coke and black bottom pie and wondering what Mazzepa Pompezoidi had lined up that Saturday evening for the Uncanny Camp Meeting and Film Festival! And just for grins, I'd find out who you really are, get in my time machine and beat the livin' ----- out of you on Tulsa's famous Restless Ribbon back in 1968. ;D

Bob O'Shea
Nathan Hale, Class of '69
 
Just don't ever go public or hire anyone from the Mayes family to run your stations.
[/quote]

Hey JG...the Mayes family rings a bell. What do they own? So many names have come through this market or general area that memory fades. Hope all is well.

O'Shea
 
Journalguy,

I came over to the Oklahoma board after seeing you post a dig on the new owners of our beloved WRMM in Rochester. On the NY boards you slam them and here you praise them? What gives? Anyone have any direct experience working with Stephens Media Group? Are we in for more cuts/bad radio or is this a chance to go "old school" and have some fun radio again?

Greeceman
 
OKCRadioGuy said:
El Crapo Channel?
Click to expand...

Where has my mind gone? I worked for Lowery Mayes when he owned 3 radio stations! In '74 for KXXO 1300 AM and on the same station different format in '77 when Bob Hannaberry hired me for mornings, then again in '96 & '97 when Clear bought out Federated Media. I was doing pm drive at first then am drive after Rick Alan West was hired as production director for all Clear properties in Tulsa. Charlie Derrick and I worked down the hall from each other when Charlie was doining mornings on KMOD. I miss that crazy bastard. Charlie was fun to work with. OK, memory jogged. I know big conglomerate radio backfired on all of us.....but my time with Clear was always a hell of a lot of fun. Upper management always did right by me and for the most part, my co-workers always seemed to come from the same behavioral sink. I don't miss radio but I do miss my friends. Phil & Brent are two of the nicest guys anybody could work with and then GM Jim Smith was as good as it gets. As far as Clears astounding growth over the years, in theory there was supposed to be a happy return for everybody. My opinion is this: publicly held radio is subject to the same majority shareholder whims as any other big board corp. Look what happened to CompUSA. They were public for awhile, went in the dumper for a host of reasons, was then purchased by Carlos Slim, taken off the board and returned to private ownership status and then bacnkrupt! They are history. I do look for Clear to eventually sell off a BUNCH of properties over time. Single ownership or at least smaller chain ownership will come back. It will have to in order to survive. That's my story and I'm stickin' to it!

O'Shea
 
"... publicly held radio is subject to the same majority shareholder whims as any other big board corp. Look what happened to CompUSA. They were public for awhile, went in the dumper for a host of reasons, was then purchased by Carlos Slim, taken off the board and returned to private ownership status and then bacnkrupt! They are history. I do look for Clear to eventually sell off a BUNCH of properties over time. Single ownership or at least smaller chain ownership will come back. It will have to in order to survive. That's my story and I'm stickin' to it!" I am 100 percent with you Bob. The biggest problem with the big boys IS the public money and all the problems it brings. The stock market is a crazy place and that trickles down into the radio business too. With all that being said I think Tulsa's CC cluster has always been above the normal CC standards in quality and operation, even early in the game. Luckily there have been some decent folks there high enough in the company structure to insure that their market was given proper tools for the job and talent to do it, with good results from that.
 
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