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Times exchanges WQXR FM...

Obviously not. 92.7 is a horrible facility for trying to be a NYC player. When UV bought 92.7, there were no prospects of a full market FM coming up for sale, and as such, they horribly over paid for 92.7 just to get a signal on the air. The market and economy has shifted so dramatically changed since then. Nobody could have envisioned a NYC Class B trading for $45 million stick value.

City of license is meaningless. Nobody cares. It will be buried at the TOH. It will still be regarded as a NYC cultural institution, and WNYC will certainly promote it as such.

Classical is such a niche format. Fans should be grateful that the parties involved were able to orchestrate this arrangement. It's really a win for everyone.
 
What does this say about the real market value of all stations. Those that are publicly traded and those that are highly leveraged?
 
radioeye said:
What does this say about the real market value of all stations. Those that are publicly traded and those that are highly leveraged?

You mean what does it say about the real market value at this particular time. Because the market value is likely to change once people can actually borrow money again.

What made this deal so low was the fact that the NY Times wanted to do it quickly, and they wanted to preserve the classical format. Those two things hurt the price. However, from my memory of their 2008 revenues, I think the selling price was about 4 times cash flow, which is about what CBS got for its Denver cluster a few months ago. Then again, New York and Denver are very different.

This is a bad economy. Try selling your house now and tell me if the price would have been higher two years ago. This is why the "highly leveraged" companies aren't selling their assets, even though they need the cash.
 
Every broker I have spoken to in the last three months has said the days of 10 times multiples are dead and done. Forever.

A seller can now get;

7-8 if he is super lucky. But few sellers will be. You can start here, but be prepared to go down. 95% of sellers will have to.
5-6 will be the average multiple
4 or so will be a special situation multiple (and the fact that WQXR will remain Classical makes this such a case).

And with radio revenues predicted to keep on going down for the next 12 months, there is no reason to buy now. THAT is the reason people are holding back. There are multi-millionaires ready to leap. They just are waiting for the price to fall even further! And it almost certainly will for 9 out of 10 radio stations over the next 12 months!
 
That means that ESPN is not going to 96.3, so why not put it on 101.9 when RXP flops soon. I guess Univision will make a great move from 105.9 to 96.3 and it will bring some Hispanic listeners to compete with SBS' "Mega 97.9". WQXR will go to 105.9 to make it a crummy signal and who will not listen to classical music anymore? It's too darn old for every 80 or 90 year olds who still listens to Classical until they die. I should rather listen to selections from "Fantasia".

WQXR had a history for many decades beginning in the 1940's as an AM station as W2XR when WQXR-AM dropped it's simulcast around 1992, it became WQEW as a station for adult standards until 1998 when they went to Radio Disney right up to this day. That was on 1560 AM as a 50 kw Skywave station when they almost reach their other stations like 1520 WKBW at the time.

Can WQXR-FM can do the same thing that WQEW did back in 1998? Find out on the next episode.
 
Translators often remain with the station (frequency) they rebroadcast, but this could be negotiated.
 
Hello, somebody, not nearly enough time to modify these posts!!!

Stick value will never be as it was because the media market will never be as it was.
It appears that soon, most cell phones will be able to stream everything on the web.
The NAB will have to lobby for some protective restrictions.

Commercial entities who relied on WQXR are not going away.
It is getting increasingly difficult to tell the difference between a commercial and an advanced statement of underwriting.
 
It's been a long time since I had the pleasure of visiting the city. I know 105.9's on Empire, but only 600 watts. So how's it play out with in-building penetration, and on the streets?

Last time I was up there was pre-9/11 so I have no idea how being on ESB has affected the coverage of the stations...
 
Sam The Record Man said:
So how's it play out with in-building penetration, and on the streets?
10dB down for all points in space.
 
I just heard the announcement on WQXR tonight, and while nothing surprises me anymore, I really have to wonder how many frequencies Univision has to buy. Is La Kalle THAT worth it?

Still burnt over WLIR. *sigh*
 
I guess any opportunity to take audience away from format leader "La Mega" is worth it for Uniradio Univision...
 
We have a "La Kalle", here in Miami.
I want someone to name a Spanish station, "La Avenida".
 
DToTheJ said:
I guess any opportunity to take audience away from format leader "La Mega" is worth it for Uniradio Univision...

They ought to save up their Unimoney and just buy 97.9. ;)
 
radioskeptic said:
This is a cultural disaster.

It's a big step down -- though not quite as bad as the debacle Robert Conrad arranged for Cleveland's WCLV a few years back, when he swapped their Class B metro signal for a Class A "rimshot" several miles west in Lorraine, OH (and "a ton of money"). At least this one is a Class B-1, and it's still on the same tower in the city (even if it is licensed to Newark).
The COL is actually spelled Lorain, but "Sweet Lorraine" was used as a sign-on message for Lorain licensed WUAB-TV for years.

Conrad was in that position from the get-go. All other independent stations in town were sold to Clear Channel, CBS, AMFM or Radio One one year earlier, and the only other local station left was licensed to Elyria! The 95/5 (so denoted for years in advertising) signal, while it suffers from an equally powerful co-channel in Detroit and adjacent channel in Norwalk, was a prized frequency. It was a protection move.

However... WCLV's original plans were to be on both the AM and FM stations they obtained with the trade. The FM station was for simulcast and relay purposes of what was a decent 5,000 AM station that had a decent signal pattern (in spite of years of letting maintenance at the tx/ground system slide). The AM station was to be retained by Robert Conrad's Radio Seaway, while the FM was to be donated to a non-profit that would LMA back to WCLV.

Then... Salem Communications decided to shutter WRMR, a heritage adult standards station, b/c the deal left them with one less AM signal (although they received WCLV's original 95/5 signal in return). A public outcry from WRMR's listener base - which was better than most of those with the format, even then - prompted Conrad to acquire WRMR's format, intellectual property and music library for a nominal fee two weeks before the switch, placing it on the AM station.

It was a good PR move. And people did applaud it back then... myself included. But the FM station could only cover the Cleveland market proper from the west side - the original tower was located in adjacent Sheffield Township directly south of Lorain. A new tower about ten miles closer to Cleveland was planned well before this occurred, and was turned on the minute of the switch. But WCLV has a diaspora of listeners from the east side of Cleveland... including University Circle, where Severance Hall is located. As a contingency, WCLV-FM signed an agreement with faded AC WBKC-AM in Painesville to simulcast WCLV's programming outside of AMD.

The standards format, however, didn't work out. Not that WCLV-AM could be blamed for trying... but with the switch, WCLV-AM's playlist was opened up too wide, including 30's and 40's songs and show tunes, skewering an even older audience than the format commanded. In spite of a call letter switch of WCLV-AM to the old WRMR calls 15 months later, and even with a readjusting of the format to a playlist Citahell "Timeless" channel seems to have taken a cue from now (PD Jim Davis ran the MOYL service for many years), the early mistakes were such that they could not recover from.

Conrad gave up on WRMR, selling it back to Salem (where it became conservatalk WHK). In an eerie sense, WRMR's signature personality, Bill Randle, died one day after the sale... his final show was VTed two days later, on WRMR's final day of existence.

WCLV's simulcast arrangement with WBKC was ended in late 2006 when an ownership change flipped it to gospel music as WABQ.
 
Good times for WNYC, indeed.

Now I don't know much about broadcast law but how could non-commercial stations be allowed to operate on the commercial part of the dial, in the first place? If the commercial operators were trying to push into the non-commercial part of the dial, these same people would be screaming bloody murder. Yet, we're supposed to stay silent when non-commercial operators take over more commercial FM positions.
 
stationless listener said:
Now I don't know much about broadcast law but how could non-commercial stations be allowed to operate on the commercial part of the dial, in the first place? If the commercial operators were trying to push into the non-commercial part of the dial, these same people would be screaming bloody murder. Yet, we're supposed to stay silent when non-commercial operators take over more commercial FM positions.

Interesting observation.

It's a matter of choice vs. a matter of regulation. Regulation requires stations in the non-commercial part of the FM band to operate that way. But it's a matter of choice that WBAI and WNYC operate as non-commercial stations.
 
stationless listener said:
Good times for WNYC, indeed.

Now I don't know much about broadcast law but how could non-commercial stations be allowed to operate on the commercial part of the dial, in the first place? If the commercial operators were trying to push into the non-commercial part of the dial, these same people would be screaming bloody murder. Yet, we're supposed to stay silent when non-commercial operators take over more commercial FM positions.

If it's a choice over most of the non-commercial stations currently in the commercial dial, or another cookie-cutter commercial format that has no chance to get above a 2 share, I'll stick with the former.
 
Probably also saves the companies a lot in taxes and salaries of a sales team, and those formats are hard to sell advertising.
 
Let us not forget that there are non-com AM's throughout the country, also.
I have two (2) questions about this commercial vs non-com matter.
I noticed that WFMT, a commercial station in Chi-town, has pledge drives (comment?).
We know what commercial stations can do that non-coms can not do, air calls to action, include the word, "you" in their messages, and a few other things, but what benifits does one get being classified as a non-com and can stations above 91.9 and on AM change back and forth at will?

Third question, could the [WNYC] foundation bring in the most money by simulcasting WNYC (noncom) on 105.9 and 820(AM) while running WQXR as a com on 93.9 along the lines of WFMT.
My argument here is that talk can tolerate low quality audio and a bit of noise but classical requires pristine, full quieting audio.
 
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