LA AM sold

[davideduardo]

The point of this thread is what caused the new owners of KTYM to pay a premium for an unrated brokered station many (including me) haf forgotten was out there.

I just don't understand why they bought a station that daytime covers less than a quarter of the metro population well and at night essentially covers nothing. While it might have been several times the $6 million, why not buy KFWB which is under orders to be divested and is presently operating in a trust?

 

[ChannelFlipper]

I just don't understand why they bought a station that daytime covers less than a quarter of the metro population well and at night essentially covers nothing. While it might have been several times the $6 million, why not buy KFWB which is under orders to be divested and is presently operating in a trust?

Why? Because CBS still doesn't want to sell...,err, the trustee is still diligently looking for a buyer but cannot find one.

 

[Unregistered]

Sure - totally independent. Which is why Scott McCormick is still on both KNX and KFWB

 

[Art Landing]

Can't speak to the issue of KFWB'S trustee, but it appears that IHR will be upgrading both staff and equipment for their new venture. Here's a detailed background article.

http://www.catholicworldreport.com/Item/3085/catholic_radio_returns_to_los_angeles.aspx

 

[hm insulators]

OK - So I'm showing my age by using the term "dial." I remember what vaccuum tubes were as well, plus rotary dial phones.


.

I see your vacuum tubes and rotary dial phones and I raise you my vinyl LP records and turntable!

 

[jonbruce]

objections to KTYM sale

Multiple informal objections have been filed to the KTYM sale. I don't know how long this will slow the transfer down. It is unknown to me if any of these objections are valid, who filed them or why.

 

[Groove1670]

I guess there are many that will pay a premium to be on a station even if it doesn't show up in the book. If you offer the airwaves (AM or not) they will buy.

 

[Joey1986]

Sure - totally independent. Which is why Scott McCormick is still on both KNX and KFWB

You're thinking of Bob McCormick.

 

[davideduardo]

I guess there are many that will pay a premium to be on a station even if it doesn't show up in the book. If you offer the airwaves (AM or not) they will buy.

I don't necessarily think a premium was paid for the station.

Discounting the value of any land, the station likely went for 5 or 6 times BCF, meaning that the station was throwing off around $1 million in cash flow a year. For a brokered station in LA, that would not be outside the possibilities. In such situations, ratings have nothing to do with the profitability of the station.

 

[Art Landing]

Since this thread started I've made a point of actually spot monitoring the station as time allows. Many of the brokered broadcasters are local Inglewood churches and medical providers who are apparently broadcasting to their own bases. These are miniscule compared to the larger population but its important to them and apparently adequate. They are likely to perceive that the Catholic owners will have their own programming agenda which won't include them - and they're likely right. Where are they going to go? I've no specific proof but perhaps this is where the protests are coming from.

 

[K.M. Richards]

You are right on your suppositions, Art.

The petition to block the sale has finally surfaced in the CDBS database at the FCC:
http://licensing.fcc.gov/cgi-bin/prod/cdbs/forms/prod/getimportletter_exh.cgi?import_letter_id=49451

And so has the letter from the attorney objecting to the petition on the grounds that it is based solely on programming changes, which the FCC stopped considering four decades ago:
https://licensing.fcc.gov/cdbs/CDBS...?appn=101639223&qnum=5000&copynum=1&exhcnum=1

Note that the attorneys sent a copy to every person who signed the petition, so that they can learn that screaming "you can't take our station away" doesn't work. Didn't work in the KDAY sale to the Chinese, either; that one fell apart because two of the parties who filed objections concentrated on the potential violation of foreign ownership percentage (the rest were dismissed because those, like this petition, focused entirely on KDAY's format) and the proposed buyer backed out when it became obvious he couldn't prove otherwise to the legal degree required.

I feel sorry for those people having wasted their time with that petition. But they also should have done some research and realized it wouldn't work.