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Radio Stations for sale

R

radioray

I thought this might interest the message board. Hope its okay to cut and paste like this from Tom Taylors email.

NOTICE OF SALE
AM/FM Radio Stations
Pembrook Pines Mass Media, N.A., Corp.

Subject to court approval, Richard A. Foreman, as receiver for Pembrook Pines Mass Media, N.A., Corp., (PPMM) will be accepting bids to purchase the assets of PPMM, including licenses to operate the following radio stations:

WABH(AM)/WVIN-FM – Bath, NY, and
WQRW(FM) – Wellsville, NY.

All bids must be submitted by 5:00 p.m. Friday, August 31, 2012.

For further information, please contact PPMM at:

Richard A. Foreman, Receiver
PEMBROOK PINES MASS MEDIA, N.A., CORP
330 Emery Drive East
Stamford, CT 06902
Tel. (203) 327-2800
[email protected]

Upon execution and return of a confidentiality agreement which can be obtained at [email protected], information relevant to the assets, terms of sale, and bidding instructions will be available for review.
 
Details regarding the bidding process can be read here: http://www.rafamedia.com/news/2012-aug-pembrook-sale.php

The WVIN thread mentions the initial bid. The link @ Richard A. Foreman Associates mentions a "stalking horse" bid which establishes a baseline for subsequent, competing bids. In real estate transactions, such a procedure might be called a "house bid."

It will be interesting to read the opinions and speculation of the people more familiar with the properties and markets. It does appear, however, that there have been more bodies in Ralph Wilson Stadium for the season home openers than fall within the 70 dbu contours of these stations.
 
"I'll let ya'll know based on the outcome of the next Powerball drawing. "

Win that and you'll have enough money to bid on the Entercom Buffalo cluster. ;)
 
There are better ways to spend $510 grand and get a better ROI. You'd probably find more livestock in the coverage area than humans in the coverage area of these stations. And who buys an AM station in the middle of East Cowpatch these days? The sad thing is, if rumor is true, the stations will become another appendage to some company's small market synergy. $510 thousand dollars. Walk on by.
 
To be fair, it's two FMs that complement each other, and an AM. Music on FM, live and local small town radio on AM, Bath/Wellsville market coverage. Can you cover the nut and expenses?

36 spots an hour (12-12-12), 12 hours a day = 432 spots per week. Times 7 days = 3024 per week. $25K / 3024 = $8.27 per spot. At $10 per spot, you've got $30K per month. Is that enough to pay the bills?
 
Ummm...and make debt service on $510K plus pay a staff a living wage keeping THREE, count 'em three signals alive (in any meaningful sense of the word?) Tough, given the Southern Tier economy these days.
 
Well, Bob, I kind of figured that debt service, programming, and employees would be some of the bills...
 
Well, not to be glib, but debt service is not necessarily expense from an accounting standpoint. Only the interest is. But your payments, assuming you could find 8 percent money at 15 years, would suck over $4800 per month out of your projected $30K gross. Now you're running three signals, three transmitter sites, and at least one studio complex and paying a staff out of $25K-ish under your scenario.

But you need to re-run your numbers. You said 432 spots per week (you meant "day") x 7 days = 3024 spots per week, times 4.3 weeks in a month = 13,003 spots a month. $10 a spot would yield $130K per month or over $1.5 mil annually. Or another way of figuring, 432 spots daily at $10 per would be $4320 daily x 7 days = $30,240 weekly....$130,032 a month. Nothing to it, right??

Just try this out there in the real world..... ;)
 
Yeah, you'd have to sell, and hire some of those pesky sales-types. And they'll want to get paid. And how many businesses are there in that geographic area that can contribute to your $1.5M? As you say, just try it out there in the real world...
 
Somebody find Al Cherry, the "crusading for traffic safety" guy..who also sold the "shop at the store with the mic on the door" and the "WGVA clock" he can surely help make the note..and all of his "spots" can be logged as PSAs.

Wow..selling radio has got to be rough..especially with the economy.
 
That's simple. Don't sell the economy, just sell the spots. You can bet that a smart broadcaster would lease time on the AM to cover costs on the FM -and make up for any shortfalls. Gordon P. Brown certainly made money with The Rosary, Back to The Bible and The Lutheran Hour. Not to mention ethnic programming on Sundays. Fact is, someone would be smart enough to be able to make these properties go. There must be enough churches who could get national money from their respective denominations. That's on the AM. Keep the FM's viable entertainment sources--and soak up the $$ with the AM. No, I'm not smart enough to do that, but someone with brains and fortitude could figure it out. THREE properties instead of a stand-alone operation. It could work--couldn't it?
 
BOB1370:

If (errrr when) I win the powerball/megamillions,
...would the jackpot (estimated to be about 75 millie)
be enough for the Entercomm Buffalo ....

Personally, I would be more interested in
Townsquare Media ( what do u think they would be asking : ) lol
 
"If (errrr when) I win the powerball/megamillions,
...would the jackpot (estimated to be about 75 millie)
be enough for the Entercomm Buffalo ...."

Probably. These days they might even throw in Rochester. A 50 kW blowtorch in Market #1 only fetched $30 million last month, so radio station prices in general have fallen back to revenue and cash flow multiples that are a lot more realistic.
 
As stated, by everyone *but me* IF (not when lol)
you were to win 67 million [take home] the last thing
you do is buy a headache...I mean, cluster...

BUT being serious, iF a buyer came in...would
Rochester, buffalo - (any cluster) be up for sale ???

iF Entercomm wants to focus on bigger markets...
or Townsquare wants to be "dump" a whole market cluster,
....is there a chance "if the price is right, not over priced"
 
Any commercial station or cluster iis always for sale if the offering price is right.
 
All's forgiven.

Tom Taylor NOW said:
The creditor is now happy, and an upstate New York deal involving three stations is explained by this sentence in the FCC filing –

“This application…is appropriate because it sees FCC approval for return of 100% control of the licensee from a court-appointed receiver, Richard A. Foreman, to Robert J. Pfuntner…as a result of payment by Mr. Pfuntner of monies owed to a creditor.”

The creditor is Citizens and Northern Bank. Dick Foreman previously took over Pembrook Pines Mass Media N.A. Corp., the company that’s now back under Pfuntner. The stations are AC “V98.3” WVIN and “ESPN Radio 1380” WABH in the Elmira-Corning market, and hot AC “Q93.5” WQRW in Olean.
Click to expand...

No sale. We can only imagine how many bids were submitted for these properties.
 
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