Three Indy guys buy Carolina Station - one is former WKLU employee!

[radioindy]

Hey Oasis, have you seen the IBJ website today? Looks like one of your former employees that you dumped on here has become your PEER!

http://www.ibj.com/html/detail_page_Full.asp?content=15268

 

[nedsmith2007]

Looks like one of your former employees that you dumped on here has become your PEER!

PEER? Russ with Indy and Ft Wayne. Robbie with a daytimer in Whiteville, NC, population 5200.

As Carson would have said, "it is to laugh."

 

[radioindy]

Looks like one of your former employees that you dumped on here has become your PEER!

PEER? Russ with Indy and Ft Wayne. Robbie with a daytimer in Whiteville, NC, population 5200.

As Carson would have said, "it is to laugh."

What is this guy, like 20? What were you doing at age 20? Trying to get a board op job? Or buying a station and putting it on the line? I'd love to see him do well.

And with the way WKLU's ratings are continuing to slip, that Whiteville population may soon be larger than KLU's listening audience.

 

[nedsmith2007]

What were you doing at age 20?

Busting my hump at Ft. Ben. But even at 20, I knew better than to waste my money on an AM in population 5200 Podunk, NC...especially a daytime only AM. I was blessed. Never board op'ed. Never worked in a market smaller than Lima, OH. Ended my career last year, age 52, in Houston, TX.

 

[EStreeter]

Thanks for your service to our country Ned. I think everyone can respect and appreciate the sacrifice you have made.

RadioIndy put this thread up there not me. Jason, Rod, and I are not trying to be Russ or anyone else. They do what they do, and that's great. We are just looking forward to serving the community...what radio was designed to do in the first place. We aren't basing our success on profit, but how well the community accepts our programming. We don't officially take over until July 1, but please feel free to check out our site.

www.wtxy1540.com

 

[Hoosierky]

Thanks for your service to our country Ned. I think everyone can respect and appreciate the sacrifice you have made.

RadioIndy put this thread up there not me. Jason, Rod, and I are not trying to be Russ or anyone else. They do what they do, and that's great. We are just looking forward to serving the community...what radio was designed to do in the first place. We aren't basing our success on profit, but how well the community accepts our programming. We don't officially take over until July 1, but please feel free to check out our site.

www.wtxy1540.com

Congrats Robbie! A friend of mine and myself (I know..bad grammar alert) were trying to do what you pulled off years ago with a dark 5 KW AM'er. Glad to see that you succeeded. Again.. Congrats!

 

[Elephant]

Actually, the city of Whiteville may be 5200 people, but it's the county seat of Columbus COunty which has a population of about 55,000. Not bad really. Looks like they may get into a couple of the neighboring counties too.

Congratulations on what will be a very enriching, frustrating, rewarding, etc... experience. You get my point. Wish I could do the same.

 

[spacetrucker]

Go for it guys and BEST of LUCK!!! The numbers in that area don't really reflect the potential. Lots of local involvement can only bring good things in my opinion.

 

[Flying-Dutchman]

Robbie and Jason know how to do community events and bring in money.
They helped make it possible for me to pay jocks to sit in the chair and
play music at WKLU.

Good luck guys! I'm sure you will do fine.
Bruce Q

 

[Goat Rodeo Cowboy]

I met Jason through the Radio-Info boards.

I'm impressed. He has been asking all the right questions.

If you think the county population is a good sign for the possibility of success... take a look at Retail Sales.

God speed, fellas. There are a bunch of us rooting for you!

 

[PTBoardOp94]

I'm glad to know that Russ pays well

Good Luck EStreeter et al.

 

[nedsmith2007]

RadioIndy put this thread up there not me. Jason, Rod, and I are not trying to be Russ or anyone else.

Hey...don't get me wrong. I wish you well. You're young. This is bound to be a great learning experience.

But since I'm already the villain around here, I'll ask. How many of you truthfully think that buying --- oh let's say ---- 1540 in Martinsville or 1540 in Decatur, IN to operate as a stand alone daytimer AM would be a wise decision?

Now, set that AM daytimer in small town NC during a recession in an economy with $3.89 gas prices, complete with Wal-mart Supercenter on Columbus Corner Drive buying zero local radio, and at the same time sucking every last bit of life from every mom and pop store in Columbus County.

It may be damned fun to dream about, but there's no way i'd take that risk.

I guess I should admire someone who's still willing to try. Sorry, but experience says otherwise.

 

[EStreeter]

Robbie and Jason know how to do community events and bring in money.
They helped make it possible for me to pay jocks to sit in the chair and
play music at WKLU.

Good luck guys! I'm sure you will do fine.
Bruce Q

Thanks for the wonderful words Bruce (and everyone else). Bruce was kind enough to take a chance on me and give me my start in radio. I have never forgotten it. I will always have many fond memories of that little building in Brownsburg and the opportunities it gave me. Keep up the good work on your end too Sir!

 

[Goat Rodeo Cowboy]

But since I'm already the villain around here, I'll ask. How many of you truthfully think that buying --- oh let's say ---- 1540 in Martinsville or 1540 in Decatur, IN to operate as a stand alone daytimer AM would be a wise decision?

Now, set that AM daytimer in small town NC during a recession in an economy with $3.89 gas prices, complete with Wal-mart Supercenter on Columbus Corner Drive buying zero local radio, and at the same time sucking every last bit of life from every mom and pop store in Columbus County.

There is that old bit of humor which says: I hear the second million is easier to make than your first million, so I'm going to skip the first one and make the second million now. That will be a lot quicker.

If it's your first station, and you don't have a track record yet, and you don't have family money sitting in the bank, HOW DO YOU BUY the ideal station. Maybe the only FM station in a town of 20,000. What's that going to take? 3 million? 5 Million? And since everybody want so buy the "Sugar Plum Fairy" station, the seller holds out for cash up front. When you are willing to go to some little town that only has an A.M. daytimer remember that the seller may be desperate. Not only is the asking price way down there, the seller may be willing to carry a note or let you start with an LMA.

I don't want to live in the flat country. I didn't give a second look at Whiteville. After I learned Robbie and Jason were taking it and they had great enthusiasm and dreams, I took a look at the market and said: "Wow!" Yes, it's going to be tough, but I look for them to make it just fine.

Most newlyweds first home is known as a "starter house". Very few newly weds buy a McMansion/Starter Castle for their first house.... for very practical reason. LACK OF AVAILABLE CAPITAL.

 

[nedsmith2007]

When you are willing to go to some little town that only has an A.M. daytimer remember that the seller may be desperate.

After I learned Robbie and Jason were taking it and they had great enthusiasm and dreams, I took a look at the market and said: "Wow!" Yes, it's going to be tough, but I look for them to make it just fine.

I hear you GRC. I hope that a year from now Robbie can post about his success. I'll be happy for him. But I make no apology for thinking that this is a foolhardy effort. When an owner is "desperate" to sell, "enthusiasm" or not, there is usually a troubling reason that you don't want to make your own.

 

[Goat Rodeo Cowboy]

When an owner is "desperate" to sell, "enthusiasm" or not, there is usually a troubling reason that you don't want to make your own.

"Due Diligence" as understood by corporate and accounting types is a term that is often beyond the understanding of beginning entrepreneurial types. When buying a distressed property, Due Diligence has to include the ability to recognize that the problem IS THE PROPERTY vs. recognizing that the current operator is the problem. (And properly assessing whether the future owner has skill-sets appropriate for the property. Every property/market is unique. Every owner is unique.)

 

[nedsmith2007]

"Due Diligence" as understood by corporate and accounting types is a term that is often beyond the understanding of beginning entrepreneurial types.

First, someone thinks I'm Russ.

Now, someone thinks I'm a "beginning entrepreneurial type."

Think what you want. I'll be checking out now.

 

[ilovelucy]

RadioIndy put this thread up there not me. Jason, Rod, and I are not trying to be Russ or anyone else.

Now, set that AM daytimer in small town NC during a recession in an economy with $3.89 gas prices,

Hey, I don't really care what happens with that station in NC... just PLEASE tell me where I can buy gas for $3.89!! I'm bringing all my gas cans with me!!

 

[virgilstreetnc]

RadioIndy put this thread up there not me. Jason, Rod, and I are not trying to be Russ or anyone else.

Now, set that AM daytimer in small town NC during a recession in an economy with $3.89 gas prices,

Hey, I don't really care what happens with that station in NC... just PLEASE tell me where I can buy gas for $3.89!! I'm bringing all my gas cans with me!!

Gas is $3.81 in Whiteville, NC today.

And there is no recession. Official definition of recession is, specifically, a decline in GDP for two or more consecutive quarters. We haven't had that. Don't you listen to Dave Ramsey?

And the commute down here isn't the same as Indianapolis. People do not commute 50 miles back and forth to work here so the gas price isn't as big of a deal down here as it may be to you. Plenty of local retail, and over 50 restaurants alone in the city limits. People like to eat and shop down here.

 

[butlerguy03]

They're doing something that I have always dreamed about...maybe it will happen one day! Congrats and good luck, small towns/large counties can treat you well if you do it right.