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SBS Buys KROI for $7.5 million

BamaTX said:
Mike Stude sold KRTS-FM at the perfect time. Not long after the sale closed, radio licenses started to lose their value.
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That was in 2004, pretty much the peak of the market. At the time there was chatter that KRBE would go for $120M were it put up for sale.

A few years ago, I had a conversation with a former KRTS staff member. I won’t reveal their identity, but let’s say very high up the food chain. In the early 00s they were quite aware that station valuations were going nuts.

Stude was considering selling 92.1, and asked his top people what the best time would be. Several times they told him “not yet.” 2004 rolled around and station sale prices were insane. They finally told him “now.”

KRTS was expecting to get $60M for the 92.1 signal. They got $72.5M. The sale was timed perfectly.

In the 19 years Radio One owned KROI it lost almost 90% of its value, probably close to 95% if inflation is considered, with SBS paying $7.5M. The stick might go for much less than $5M were it put back on the market.
 
BamaTX said:
Mike Stude sold KRTS-FM at the perfect time. Not long after the sale closed, radio licenses started to lose their value.

2008 will forever be known as the year that radio died, we just didn't know it at the time. The recession severely hit radio and 3G smartphones (most notably the iPhone) entered the market. The bleeding hasn't stopped since.
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And the PPM showed AQH listening to be about 30% less time than in the diary.

Recession, PPM and the smartphone were the perfect storm.
 
Holstead said:
-and if that becomes the asking price, I will gladly buy it...
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"The Original Country Gold with Rowdy Yates, plus 92 minutes of non-stop reeeeal country variety. On your new home for the legends of country in Houston, the all new KIKK 92 FM."

Dad would be proud. 👍
 
rosecitymedia said:
"The Original Country Gold with Rowdy Yates, plus 92 minutes of non-stop reeeeal country variety. On your new home for the legends of country in Houston, the all new KIKK 92 FM."

Dad would be proud. 👍
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That’s actually not a bad idea, and it might resonate with the significant number of Country fans that are dissatisfied with the genre’s current direction. Country Legends 97.1 had respectable numbers for a rimshot. Probably not financially viable on a stand-alone signal, though.
 
It’s now November 1, and under the current version of the APA the sale of KROI to SBS is supposed to close on or before November 27, the day before Thanksgiving.

Do we finally get a new format on 92.1 this month? Or will the sale and flip get pushed into 2025?
 
Mediafrog+ said:
It’s now November 1, and under the current version of the APA the sale of KROI to SBS is supposed to close on or before November 27, the day before Thanksgiving.

Do we finally get a new format on 92.1 this month? Or will the sale and flip get pushed into 2025?
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Get ready its coming! Saw a video recently of Raul Brindis confirming that before the end of the year he would be back on the air. I remember a few years back that KOVE did the change to Recuerdo on a thanksgiving day.
 
Mediafrog+ said:
It’s now November 1, and under the current version of the APA the sale of KROI to SBS is supposed to close on or before November 27, the day before Thanksgiving.

Do we finally get a new format on 92.1 this month? Or will the sale and flip get pushed into 2025?
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The deal should close this month. Since we are so close to the end of the year, I think only some tax related issue could move the closing to 2025.
 
radioislife2020 said:
Get ready it’s coming! Saw a video recently of Raul Brindis confirming that before the end of the year he would be back on the air. I remember a few years back that KOVE did the change to Recuerdo on a thanksgiving day.
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So a corporation takes a long time to purchase a station with the intent of rolling out a new format and they intend to hire a person with a troubled employment af his last job in Houston? I’m not sure they would do that.

I would expect new staff on the station when it appears.
 
stan said:
So a corporation takes a long time to purchase a station with the intent of rolling out a new format and they intend to hire a person with a troubled employment af his last job in Houston? I’m not sure they would do that.

I would expect new staff on the station when it appears.
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And not even "new" staff since El Terrible already works in LA.
 
stan said:
So a corporation takes a long time to purchase a station with the intent of rolling out a new format and they intend to hire a person with a troubled employment af his last job in Houston? I’m not sure they would do that.

I would expect new staff on the station when it appears.
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We’re now less than three weeks from the November 27 latest closing date. You would think we’d have heard something definitive leaking out about staffing and programming plans.

OTOH it would surprise no one on this board if we see an FCC filing that again revises the APA, with closing pushed back by three or four months.
 
Guys i am telling you it is more than confirmed that Raul will be the morning talent at this point everyone in the industry knows it . Raul himself has announced it will happen before the end of the year in every stage he has been able to get on. SBS has also already hired a PD and a Sales staff .
 
stan said:
So a corporation takes a long time to purchase a station with the intent of rolling out a new format and they intend to hire a person with a troubled employment af his last job in Houston? I’m not sure they would do that.

I would expect new staff on the station when it appears.
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clearly you don't see the Value Brindis brings to the table.
 
radioislife2020 said:
clearly you don't see the Value Brindis brings to the table.
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Brindis just doesn't seem to fit SBS's brand of Regional Mexican. He's kind of chatty and the trend for them lately in Regional Mexican has been less talk.

There are markets and formats where SBS goes all in on talk (Puerto Rico among them) but Regional Mexican is not one of them. Hiring Raúl now would be like when they had El Cucuy in LA and ended up dumping him years later.
 
Raul is King in Houston. There is no one that I know who doesn’t miss listening to him here in HOUSTON. I mean Mexican American people not literally 😂.
 
Mrtejano said:
Raul is King in Houston. There is no one that I know who doesn’t miss listening to him here in HOUSTON. I mean Mexican American people not literally 😂.
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He would also be redundant in morning drive. That was the main issue with Univision. They already had a national morning show and he got in the way. SBS also has a national morning show, which is my main doubt.
 
Identnut said:
He would also be redundant in morning drive. That was the main issue with Univision. They already had a national morning show and he got in the way. SBS also has a national morning show, which is my main doubt.
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i have never posted anything that i was not sure about. El terrible would never have relevance in Houston against Brindis.
 
Listened to KROI for a while during their live and local midday programming today. The host was encouraging listeners to download the Praise Houston app as they get ready to “move exclusively to 102.1 HD-2, probably by the end of the year.”

I get the feeling that Radio One still has no idea when the closing and flip of 92.1 will occur.

Keeping my eye on FCC activity for an amended APA which might push back the closing by another one to four months. If closing is delayed past January 4 there will need to be a fifth Extension of Consummation request filed.
 


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