K
Kenny1
Guest
How many Millions would be the price of one station like WRNB?
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M
madcowzack
Guest
Actually, according to Radio One's SEC filing: http://sec.edgar-online.com/2005/03/16/0001193125-05-051490/Section2.asp (do a search for WRNB on the page): "The acquisition price was approximately $35.0 million in cash."
Last station sold in Philadelphia (if I'm not mistaken) was WPLY - which went for $80 million ... and since they moved the WRNB tower, I'd imagine that stick is probably worth at least $50 million, IMHO, and that's being extremely conservative.
Last station sold in Philadelphia (if I'm not mistaken) was WPLY - which went for $80 million ... and since they moved the WRNB tower, I'd imagine that stick is probably worth at least $50 million, IMHO, and that's being extremely conservative.
A clarification:
After Ed Bold died, his widow sold WSNJ-FM for $20 million. The buyer was something called "New Jersey Radio Partners, LLC" -- an ad hoc legal entity created for the express purpose of acquiring the station. It was headquartered in North Carolina, and had no conncection with the state of New Jersey except for its short term ownership of the station.
After investing perhaps a couple of hundred thousand in engineering, legal and regulatory filing fees (to get the license transferred to Pennsauken), those southern-fried, reverse carpet-baggers flipped the station to Radio One for $35 million.
It's hard to see how that transaction served the "public interest, covenience and necessity."
Of course, WSNJ-FM was no prize when they acquired it. Yes, it was a class B, but just barely. It was somthing like 15.5 kw at just a little under Class B reference height, and it was only a couple of dB over the limit for a B-1. And it was directional. Why? To protect a full-powered Class B in Gettysburg. It also had to protect a first-adjacent Class B on 107.9 (now a co-channel) in Annapolis. And that one belongs to Harold Camping's Family Stations -- which owns WKDN!
Of course as a class A a few miles farther north, it has no problem with Annapolis. And while it's closer to Gettysburg, it's now a first-adjacent to that one, and only a Class A, so that's not a problem.
After Ed Bold died, his widow sold WSNJ-FM for $20 million. The buyer was something called "New Jersey Radio Partners, LLC" -- an ad hoc legal entity created for the express purpose of acquiring the station. It was headquartered in North Carolina, and had no conncection with the state of New Jersey except for its short term ownership of the station.
After investing perhaps a couple of hundred thousand in engineering, legal and regulatory filing fees (to get the license transferred to Pennsauken), those southern-fried, reverse carpet-baggers flipped the station to Radio One for $35 million.
It's hard to see how that transaction served the "public interest, covenience and necessity."
Of course, WSNJ-FM was no prize when they acquired it. Yes, it was a class B, but just barely. It was somthing like 15.5 kw at just a little under Class B reference height, and it was only a couple of dB over the limit for a B-1. And it was directional. Why? To protect a full-powered Class B in Gettysburg. It also had to protect a first-adjacent Class B on 107.9 (now a co-channel) in Annapolis. And that one belongs to Harold Camping's Family Stations -- which owns WKDN!
Of course as a class A a few miles farther north, it has no problem with Annapolis. And while it's closer to Gettysburg, it's now a first-adjacent to that one, and only a Class A, so that's not a problem.
radioskeptic said:A clarification:
After Ed Bold died, his widow sold WSNJ-FM for $20 million. The buyer was something called "New Jersey Radio Partners, LLC" -- an ad hoc legal entity created for the express purpose of acquiring the station. It was headquartered in North Carolina, and had no conncection with the state of New Jersey except for its short term ownership of the station.
After investing perhaps a couple of hundred thousand in engineering, legal and regulatory filing fees (to get the license transferred to Pennsauken), those southern-fried, reverse carpet-baggers flipped the station to Radio One for $35 million.
It's hard to see how that transaction served the "public interest, covenience and necessity."
Actually, South Carolina. Pirate Jim's radio-history.com has a great entry on WRNB on page 11 of the New Jersey FM Dial History section. The parent company, American Media Services, specializes in "developmental engineering", meaning the specialty is move-ins.
NJRP acquired the station specifically to move the station close enough to the major market (in this case, Philly) in order to jack the selling price up and spin it to the highest bidder, which was Radio One. Mission accomplished.
W
WTUX
Guest
Bottom line: The recession which is hitting radio revenue is going to play havoc with the cash flow of station buyers who paid these inflated prices. Add in the extra cost to be absorbed by those HD operators with 2 or 3 different program offerings and the complication of them trying to market those to ad buyers. The future looks bleak.
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