Radio One Selling V-100?

[laitpapi]

InsideRadio.com is reporting Radio One Ceo Alfred Liggins telling Wall Steet "if someone were to offer an attractive price" (they'd sell). Bear Sterns analyst Victor Miller calculates it could go for $125-$175 million.

Glad to see Radio One has come to their senses. They are not capable of competing in Los Angeles. Emmis needs to learn the same lesson and sell Movin which is in even worse shape than Radio One is with V.

 

[Shoot From Hip]

InsideRadio.com is reporting Radio One Ceo Alfred Liggins telling Wall Steet "if someone were to offer an attractive price" (they'd sell). Bear Sterns analyst Victor Miller calculates it could go for $125-$175 million.

Translation: decision to sell has been made. Now awaiting best offer. Bids may be delivered in person or by email.

Imagine what they could have gotten for it three years ago when ratings and market acceptance were better.

 

[davideduardo]

InsideRadio.com is reporting Radio One Ceo Alfred Liggins telling Wall Steet "if someone were to offer an attractive price" (they'd sell). Bear Sterns analyst Victor Miller calculates it could go for $125-$175 million.

An LA stick is worth well in excess of $250 million, even today. One on Mt. Wilson may be worth more than $300 million, even in today's environment.

 

[RadioStarOne]

Bring back KIQQ!

 

[Bianco500]

Actually, Emmis could either wind up with 100.3 or even the intellectual property of KRBV to put on 93.9, that would return the favor as RO had acquired Emmis's Radio Now in Indy most recently. KRBV at least still gets above a 1, mabye Emmis could combine that audience with the KMVN audience and get a 1.5-2.0 share.

But I think Univision(to put Recurdo on 100.3) or Magic Broadcasting(to put KDAY on 100.3) is more likely for actual ownership of 100.3.

 

[War Of Attrition]

Translation: decision to sell has been made. Now awaiting best offer. Bids may be delivered in person or by email.

Clear Channel is at the cap. CBS is at the cap. Emmis can't even manage both of their current stations. There is no way Levine or the other stand alones could afford even the low end of that price.

I would think Univision is probably the most likely buyer. Maybe they would leave Recuerdo on the simulcast and go after Latino 96.3 with a La Kalle on 100.3. If SBS's financials weren't so bad they could be a potential buyer.

I know David disagrees with the reported valuation, but if it was really in just the $125 range maybe even Liberman would make a run.

I think Citadel could be the dark horse candidate.

 

[davideduardo]

I would think Univision is probably the most likely buyer. Maybe they would leave Recuerdo on the simulcast and go after Latino 96.3 with a La Kalle on 100.3. If SBS's financials weren't so bad they could be a potential buyer.

There are no more than about 3 shares for the Latino format, and the revenue base is limited by being mostly 12-24. On the other hand, Recuerdo, on an improved 102.9 in San Diego, is now #1 in the market 25-54.

I know David disagrees with the reported valuation, but if it was really in just the $125 range maybe even Liberman would make a run.

At that pirce level, they can not afford to sell it. The value on the books based on what they paid is around $400 million, and they would have a very significant writeoff if they did that... unless they have already written off asset value under the Sarbox asset iimpairment guidelines. .

Liberman will not biuy it unless it is very cheap.

 

[BACKnUSSR]

I know David disagrees with the reported valuation, but if it was really in just the $125 range maybe even Liberman would make a run.

At that pirce level, they can not afford to sell it. The value on the books based on what they paid is around $400 million, and they would have a very significant writeoff if they did that... unless they have already written off asset value under the Sarbox asset iimpairment guidelines. .

Liberman will not biuy it unless it is very cheap.

I think that's what War of Attrition was getting at. 125M would be cheap.

 

[laitpapi]

There is no way Emmis will be a bidder. 2 of their top 5 shareholders representing over 20 percent of the shares want Emmis to sell their assets piecemeal.

I agree that most likely it will be Univision, Citadel or Roy Laughlin.

Cumulus and Entercom have previously expressed interest in this market.

Why would anyone want the intellectual rights to V100? The only thing they would be good for is a "how to" manuel on the way to blow tens of millions of dollars.

Emmis and Movin is in worse shape as Kmvn is a union shop and has a morning show that's costing millions with no return. If Emmis wants to go private it must sell a major market cluster or Movin and a New York City station.

Radio One is still running a heavy tv campaign with Cliff Winston this afternoon. Just like January it should give them a little bump but does it really matter anymore?

 

[JockFan]

How about Bonneville...they have the $ and know the market.

 

[War Of Attrition]

There are no more than about 3 shares for the Latino format, and the revenue base is limited by being mostly 12-24. On the other hand, Recuerdo, on an improved 102.9 in San Diego, is now #1 in the market 25-54.

How many shares are there for Spanish Adult Hits in Los Angeles?

As far as Liberman goes, 125 would be cheap but servicing the debt on 125 would require much more expensive rates which may not be part of LBI's current sales model.

They did spend nearly 100 million for the Dallas cluster of 5 horrible signals. In all three of their markets, Liberman seems to have a propensity for overachieving.

 

[War Of Attrition]

There is no way Emmis will be a bidder. 2 of their top 5 shareholders representing over 20 percent of the shares want Emmis to sell their assets piecemeal.

I agree with you. Emmis is very fragile right now and Jeff is trying to steer clear of any potentially controversial moves because the analyst have been breathing down his throat for the past few years.

What Emmis should try to do is unload St. Louis, Austin, and Terre Haute along with WVUE TV in New Orleans (which has been for sale for years). Those sales should provide enough capital to straighten out the balance sheet enough to go private while retaining New York, Los Angeles, Chicago, the publishing, and international radio divisions.

If Emmis and Greater Media could merge it would make an amazing major market portfolio for a private company.

I agree that most likely it will be Univision, Citadel or Roy Laughlin.

I don't think Roy has that much capital lying around.

 

[jonbruce]

Magic doesn't have the bucks to pull it off either.

 

[kentuckymedia]

I love the idea of Emmis and Greater Media pooling together their assets.

Spin off Los Angeles and Austin Texas. Maybe Saint Louis.

Then Emmis would have - New York, Philadelphia, Boston, Detroit, Chicago, Indianpolis and Terre Haute (tax writeoff)

 

[kyscott]

InsideRadio.com is reporting Radio One Ceo Alfred Liggins telling Wall Steet "if someone were to offer an attractive price" (they'd sell). Bear Sterns analyst Victor Miller calculates it could go for $125-$175 million.

Glad to see Radio One has come to their senses. They are not capable of competing in Los Angeles. Emmis needs to learn the same lesson and sell Movin which is in even worse shape than Radio One is with V.

Humm, seems like Radio One's mode of operation is to buy good stations, run them in the ground then sell them. They have done this in Louisville, Dayton and Augusta Georgia.

 

[Bianco500]

Well, Liggins is denying he ever said anything about selling. And says he wants to fix KRBV.

Good Luck, what are they gonna do, try to get Mexicans to listen? No Latino wants to hear obscure R&B(to them) from Maze and Musiq Soulchild. They're just happy with their Mega 500 at 92.3 and 300 of those tunes getting played on Ricardo Mexican Wanna Be 93.9

 

[955wdhf]

InsideRadio.com is reporting Radio One Ceo Alfred Liggins telling Wall Steet "if someone were to offer an attractive price" (they'd sell). Bear Sterns analyst Victor Miller calculates it could go for $125-$175 million.

An LA stick is worth well in excess of $250 million, even today. One on Mt. Wilson may be worth more than $300 million, even in today's environment.

David, Do you think that KRVB is worth around that amount of money 250-300 million? And do they have a stick on Mt. Wilson?

 

[davideduardo]

David, Do you think that KRVB is worth around that amount of money 250-300 million? And do they have a stick on Mt. Wilson?

They paid approximately $400 million for it... and yes, it is on Wilson.

The LA B's that are not on Wilson are KYSR, KROQ, KLAX and KXOL.

 

[radioresearcher]

David:

If the B's on Wilson are worth $250-$300 mil, what are the A's worth?

Entravision has reportedly had the 103.1's on the block for about $85-$100 million and can't get that.

I think the prices may have gone done more than those of us in L.A. have hoped. I've seen medium market stations sell for 50% of what they were four years ago.

I think a full B on Mt. Wilson may be $250 mil at the most right now with the current climate.

That analyst said $125-$175 million which I don't believe at all. And that one is the weakest B.

David, Do you think that KRVB is worth around that amount of money 250-300 million? And do they have a stick on Mt. Wilson?

They paid approximately $400 million for it... and yes, it is on Wilson.

The LA B's that are not on Wilson are KYSR, KROQ, KLAX and KXOL.

 

[LA_Guy]

96.3 sold for 250 million-when it was still at Montecido Heights

96.3 sold for $250 million a few years ago-and that was BEFORE it moved to Flint Peak (and later to Verdugo at the KROQ site).

It can't move to Mt. Wilson without being highly directional due to the 96.1 in Mojave.