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NJN Radio: Given away

T

TheBigA

The Radio & TV Business Report, known as RBR, has an analysis of the deal in which the State of NJ unloaded their 9 radio stations to WNYC and WHYY.

http://www.rbr.com/radio/non-cash-compensation-a-part-of-nj-public-radio-sale.html

In other words, Governor Christie has become Crazie Eddie. "His prices are so low, he's practically giving them away!" So barely any money actually exchanges hands. It's all "in kind" contributions. Talk about fire sale prices. I can't wait for the state to start dealing on other assets like the Turnpike and the Parkway.
 
At least it is good to know what the "in kind" non-cash compensation was.

So the four northern stations, Trenton, Sussex, Netcong, and Toms River were actually sold for a total of $1-million cash, or an average of $250,000 each.

The "in kind" payments just created the illusion that the price was bigger than it really was.

It is also interesting that New York Public Radio is providing nearly $1-million in "presence" on the WQXR website, and "messaging" on WQXR itself. So, will they be Jersey Fresh produce promos, or "take your vacation in Jersey announcements?"

I wonder why, spots on WNYC weren't included?

Possibly this is the best deal that could be made. This was not the time economically, nor did the stations have any audience worth buying.

I, for one, am glad the stations didn't wind up being instruments of "prophets for profit" who would feed them by satellite, and take advantage of gullible Jersey types who would send tax deductible contributions to them, and the treasury would be that much poorer. That would have been an even greater waste of these frequencies and everybody in New Jersey would have been that much poorer as a result.
 
TheBigA said:
The Radio & TV Business Report, known as RBR, has an analysis of the deal in which the State of NJ unloaded their 9 radio stations to WNYC and WHYY.

http://www.rbr.com/radio/non-cash-compensation-a-part-of-nj-public-radio-sale.html

In other words, Governor Christie has become Crazie Eddie. "His prices are so low, he's practically giving them away!" So barely any money actually exchanges hands. It's all "in kind" contributions. Talk about fire sale prices. I can't wait for the state to start dealing on other assets like the Turnpike and the Parkway.
Click to expand...

They are non-comms, and especially in this economy, I doubt there was a line of bidders on them or some other group would have walked away. The state will make it back on the NJTV spectrum auction.
 
No one cared about NJN radio until it was gone. Suddenly these were valuable assets that we gave away for next to nothing? Should we have held out for a better deal? From who?
 
dkocw said:
No one cared about NJN radio until it was gone. Suddenly these were valuable assets that we gave away for next to nothing? Should we have held out for a better deal? From who?
Click to expand...

Exactly!
 
There were other bidders, but they were dismissed. The public hasn't been informed of the specifics in other offers, but they can't be worse than this. As a previous poster mentioned, religious broadcasters were interested, as were state colleges and other non-profits.
 
it's similar to the difference between 'antiques roadshow' (the appraisal) and 'pawn stars' (the power of cash negotiation). the real value always boils down to what someone is willing to pay, not what an appraiser, or book, or your head or heart says it's worth. I've sold used tubes to radio stations in brazil on ebay for $300. i had a working Studer ReVox PR-99 reel-to-reel NAB standard 15 ips that got a $25 bid. i donated it to AFRTS for their audio preservation project!

and yes, sometimes, it's just dumb luck!
 
TheBigA said:
There were other bidders, but they were dismissed. The public hasn't been informed of the specifics in other offers, but they can't be worse than this. As a previous poster mentioned, religious broadcasters were interested, as were state colleges and other non-profits.
Click to expand...

Inform us. How much money were they offering?
 
TheBigA said:
As I said...the public hasn't been informed. But I'm sure we'll find out.
Click to expand...

If the public hasn't been informed how do you know that they didn't get a good deal?
 
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