Nassau Sachs...why not ERYTHING?

[ebol]

So they sold WCRB to WGBH for $14 Mil.

Why not just sell everything and be done with it?

 

[ThatGuyOnTheRadio]

Why sell everything when they can continue to make a profit with the stations they have left?

Plus, where would they find another buyer? They aren't so easy to come by.

 

[ebol]

Goldman Sachs likes big piles of money,too. Do they really intend to be in the radio business. When you can get $14 million for Boston, the Philly one should command a good price. The "little stations" will still conjur up some money.

Portland's got to be worth something.

 

[ThatGuyOnTheRadio]

Worth SOMETHING perhaps... but enough? In this market? WCRB sold for only $14 million? Compared to prices a few years ago, I would assume Nassau, sadly, lost their ass in that one.

The question still remains however... WHO will BUY these stations if/when they go up for sale?

As I said prior, it's tough to find someone who is wealthy enough, or a bank to loan you millions of dollars to buy a radio station(s).

We are still very much in a recession, despite what Washington may tell you.

Disagree? Ask the businesses losing money left and right. Ask the 9.7% of Americans without jobs. Ask the sales people trying to SELL airtime.

 

[splicer38]

I doubt Nassau will find a buyer like GBH for any of their other stations. Consider this...I don't think GBH had to finance this deal. If they did, they paid too much. The deal came with real estate too which I'm sure they'll look to sell. Consolidation into Boston while keeping the format will save some money and increase cash flow... Sound familiar? Wait until you see the multiple GBH paid. If the new multiple is 5 or 6X.... I think you'll be surprised. Does anyone think CRB was cash flowing $2.3M-$2.8M. I think CRB was cash flowing around $1.5M. Deal with real estate should have topped out at $10M unless I'm missing something. I heard Entercom was considering paying over $30M for it back a couple of years ago. Some of the best deals are the ones not made!
There is no buyer for Portland...yet. Broker still pedaling it.
The remaining 6 in NH have value but I don't see a buyer that CAN own them all, an outside group wanting them or a willingness for Nassau to sell them at a discount. What would you value WFNQ, WJYY, WNHW, WLNH, WLKZ, WEMJ? WNNH/WFNQ/WLKZ went for $12M back in the day. They might be worth more to Nassau than anyone else. When Goldman takes over, who knows what they will do.

 

[splicer38]

Also don't forget the Upper Valley and Vermont Stations. Q106, Froggy, The Wolf, Sports and Frank formats there. I can't imagine there is much value to that pacakge outside of WHDQ. Total of 14 signals...put together with 6 in NH and 11 in Maine... 31 stations... rather signals represents most of the ramaining group. Would leave them with lets see...49 minus KLB, NNH and WHQ would be 15 in Jersey, PA, Maryland and on Cape Cod. Could they sell it as a package or are the parts worth more than the whole? Can public radio write another check!? Realistically they might get $8-$10M? but Public radio might pay $15M!

 

[Jimc]

Goldman Sachs isn't in the radio business. Nassau is selling stations and I think eventually they'll settle for the market will bear,and someone is willing to pay.

Then Lou will be back in the luxury boat business and go play with his (and other's)money elsewhere.

 

[ebol]

Lou's. "others" options are dwindling. by the way from Nassau's website:




Great eastern radio to purchase TWO nassau new england radio stations
WNNH FM and WWHQ FM

Concord, NH – Nassau Broadcasting Partners, LP today announced that Great Eastern Radio LLC has agreed to acquire two FM radio stations, WNNH FM licensed to Henniker, NH and WWHQ FM licensed to Meredith, NH, both of which operate in the Concord-Lakes market in New Hampshire.

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nO MENTION OF 102.3?

 

[splicer38]

Mr. Shapiro. Good for him.
Nassau would not be the one to announce 102.3. They don't own it. Announcemnt would come from Birch and Andrew Summerau or Capital Broadcasting. Funny thing is Mr. Shapiro IS Capital Broadcasting isn't he? That would be something...
FCC has not approved the transfer to GS yet. What can they be waiting for? Once it happens I think JimC is right...everything will go.
There is not a lot of OPM out there for broadcasting right now. Joint Venture people are getting better returns in less risky opportunities. Once Radio hits a bottom (as perceived by JV) they may get back in. I hope Mr. Shapiro is writing a check for the 3 and not looking for financing. Good luck with that!