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Seeking LMA

H

H82BL8

Greetings RIMembers!

Please advise me if you can. I am a Radio-Info n00b but please don't hold that against me.

I am seeking a low cost LMA as a first time radio broadcaster, if that even exists. I know this is a vague request considering all the variables, but everyone has to start somewhere and I don't particularly care where I start.

I have spoken to three different brokers who show little or no interest and suggest DIY is the best solution. So, if any rimembers can point me in the right direction I would greatly appreciate the nudge. Please email me at Artistbot@yahoo dot com.

Thanks in advance!
 
Jones Radio Networks might be able to help. Call Tom Campion, he's their LMA guy.
 
SALESGUY2000,

Thanks for the pointer, this bird dog will do some sniffing around call Tom and follow up with you.

Artistbot
 
Oops! SALESGUY2000,

Thanks for the support, but I have the programs. I am much more interested in leasing a station. Still looking for leads everyone! Oh! and BTW, I'm not a sales guy.

Artistbot
 
H82BL8 said:
Greetings RIMembers!

Please advise me if you can. I am a Radio-Info n00b but please don't hold that against me.

I am seeking a low cost LMA as a first time radio broadcaster, if that even exists. I know this is a vague request considering all the variables, but everyone has to start somewhere and I don't particularly care where I start.

I have spoken to three different brokers who show little or no interest and suggest DIY is the best solution. So, if any rimembers can point me in the right direction I would greatly appreciate the nudge. Please email me at Artistbot@yahoo dot com.

Thanks in advance!
Click to expand...


The brokers got it right, there is little or no interest in a company doing a "low cost" LMA.
IF one exists, I can guarantee it will be your worst nightmare.

Besides, why would you want to lease/rent a facility?
If you have great success turning it around, the present owner will take it back at the end of the lease and all your work is for nothing.

Find some rich relatives and friends and go buy one.

Sorry for the reality check. :(
 
Oh, you mention "I'm not a sales guy."

Priority 1 in any successful business-Find THE best sales people!

This will be your biggest challenge.
 
NO broker would get in the middle of an lma. 12 in a row is spot on; If you have great success turning it around, the present owner will take it back at the end of the lease and all your work is for nothing. If you WERE a sales guy, the sellers would like you alot more. They all will look at you as " a kid with money."

Rich relatives, rich people in town who dislike the current owner, a and crazy bank presidents are all better ideas. My original partner in 1973
at the first station I owned was the son of the President of Sears in Brazil. That guy died and our "key man policy" made ME 100% owner.

Later, I sold the company (4 stations and a couple of construction permits) for 43 times my original investment of 25k.

Good luck to you. Radio ain't what it used to be. Today, I'd invest in some health care company.
 
I sold mine a few years ago for 3X. CONGRATULATIONS!!

Radio use to be a great investment.
It was the only source for new music and vital day to day information.

All of the above has been replaced by the internet.

My kids ages are 14-29 and rarely listen to radio.
Everything they want and need is on the internet.

I'm not sure the answer is putting a bunch of "live and local" on the air.
Even when I was a kid, you would strain to hear the "big city station" jocks hundreds of miles away.

There is a future, I'm just not sure what it will be.
Heck, if you and I had the magic answer, we would be billionaires. ;)
 
Yeah 12 in a row has a great point. Although, I could see an LMA working for you if you had a talk show or proprietary music format that you could yank at the end of the lease if they wouldn't sell it to you afterwards...

Back when I was looking at buying a station seriously, LMAs came up because they allowed you to take almost immediate control of a radio station while you bought it and waited on FCC paperwork.
 
All good points.

If you are looking to do an LMA, why not approach radio stations in your area (or the are you want this station to be in) that you think might be in a position to want to do it. Consider a station that is currently doing brokered programming with lots of holes to fill. You might do better to buy up the whole day from them than to actually enter into a LMA. Just a thought as you could get your product on the air and see if you really want or can pull off something bigger.

CJ
 
Thanks for the comments I appreciate all the insight and personal experience. Leasing a station is not a permanent solution but it is closer to than buying time and it is less expensive in the short term than buying a station. It is only the entry point.

I am not a sales guy, meaning I'm not pumping this list looking for leads like a broker in disguise. I am however experienced in sales and not worried about generating revenue. If, I do well, I can potentially buy the station rather than lose it or move on and take my programming with me if I don't like the market.

My research indicates that a lease will cost approximately 6-8% of the cost of purchasing the station depending on the market, but my market is in the top 25 radio markets and leases go for a premium even south of the border.

So, think of me if you come across someone in your travels that is interested in leasing their station.
 
quadrophonic,

Thanks for the post! I contacted Mike three weeks ago and we are talking but he does not have a station to lease at this time. But, he is keeping he is on the look out for me.

Cheers,

H82BL8
 
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