station sold in pensacola

[ok walters]

All Access is reporting this:In other filings with the FCC, 550 AM BROADCASTING CORP. is selling Contemporary Christian WKFP/NAVARRE-PENSACOLA, FL to EDUCATIONAL MEDIA FOUNDATION for $1,750,000. It is already an affiliate of EMF's K-LOVE format.

Don't know much about the market - just saw it in passing

 

[Poledo]

Dang! That little C3 cost a million bucks more than I thought it was worth.

 

[ok walters]

C3? Still a bunch of cash for an AM.

 

[Poledo]

C3? Still a bunch of cash for an AM.

Nah, it's 95.7 FM, 25KW. 550AM inc already sold off 550 AM. It was moved to Mobile as 540 AM. I think 95.7 was the last property they owned.

 

[Poledo]

WKFP =
W
Klove
Fort walton
Pensacola

 

[theoldprofessor]

Gotta wonder whether some non-profit accounting is built into that $1.75 million price tag. Has it been operating as a non-comm? Does it include real estate? That's a lot for a C3 with no cash flow being snapped up by a non-commercial outfit. Or are they using some sort of donations-per-population formula? (I have no personal experience with the cash-per-Christian thing, but have heard about it, along the way).

 

[Poledo]

I believe it's been operated as a non com ever since they moved this station from Brewton to Navarre. I would think that 1.75 million would be enough to purchase two 50kw non-com FMs in Pensacola... even it they aren't for sale. If they own any real estate it isn't worth 100k$. I think the antenna is on a cell tower, possibly owned by the county.

 

[Tibbs4]

Insane! This is showing us that non-comms are bigger money makers than commercial? You sure this didn't include real estate or another radio property? Geez.

 

[Poledo]

Maybe there's an extra zero and it really sold for 175,000$. That makes a whole lot more sense. They ran this station out of the old radio building on Palafox with the 1230 tower behind it. I don't believe 550/Glinter owns the 1230 tower land. Glinter Probably does own that old shithole of a building that may be worth 65k$.

Glinter also owned the license for an analog LPTV/translator in Pensacola on channel 39. It's been dark for years but perhaps it's part of this deal?

 

[Rob]

The gear on 95.7 is messed up, the stereo light keeps going off on it. This has happened on 3 receivers. I'm not sure if it's me or the station.

Not a big deal but, who knows.

-Rob

 

[ok walters]

Insane! This is showing us that non-comms are bigger money makers than commercial? You sure this didn't include real estate or another radio property? Geez.

Or maybe it just shows that someone has plenty of dollars but not much sense.

 

[Poledo]

What was the cash price EMF paid for WABB 97.5 two(?) years ago?

 

[Mario500]

The sale price for WABB-FM in 2012 was $3,100,000.

 

[Poledo]

$3,100,000 for a full class C - 100kw@2000 feet covering Mobile, Pensacola, FWB & Biloxi
$1,750,000 for a class C3 - 25kw@250 feet covering Pensacola & FWB... and more than 50% of the smaller signal is over water too.

I'm thinking they paid more for 95.7 than they did for 97.5...

 

[thegulfcoast]

The tower was owned by 95.7. The station was commercial from 1999 until EMF started LMA'ing it 4 or 5 years ago. It's something that this was a construction permit owned by the indian tribe in the original city of license, East Brewton, AL. The CP sold only $25,000! What an incredible investment to get that kind of return.

 

[Rob]

If Omni were to purchase this stick, wonder if he can put the ticket back up to 100KW on 95.7? The closest one would be bayu 95.7 New Orleans.

They were better off before the KLOVE, at least they were independent.

-Rob

 

[Groove1670]

Keep in mind that the Ft. Walton/Pensacola market might be a strong location in listeners and donations for KLOVE, and in turn could justify the price.

I speculate that EMF planned to do the swap with Cumulus for WABB, so the price was right. That was a good deal for everyone in the end.

 

[Poledo]

Yeah, I guess 98.3 + 95.7 hit the target cities just as well if not better than a single signal on 97.5 would.