• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Tom Benson buys Fox8 from Emmis for $41M

Ah, but you're missing the most important point in the press release from Benson's new Louisiana Media Group on the purchase of Fox 8 - one that has to do with the purpose of this board.

“The goal in creating the Louisiana Media Company is to bring a global media group together and headquarter it right here in New Orleans,” added Benson. “Through this company, we will compete on all levels in the broadcast sector, through high-tech internet and digital platforms, to television, radio and also take advantage of the movie industry’s needs here in New Orleans through a variety of production related endeavors.”
Click to expand...

So, if I'm WWL and Entercom, am I about to lose the Saints Radio Network? Benson buys an station in the market, moves the games to that, and then, he'll have every outlet covered (except the internet, which I'm sure the NFL has on lock, but feel free to correct me) to broadcast his games - and sell the local ad time therein.

So who does he buy? CC put the NOLA stations in that Aloha trust....WIST could be an easy picking, as could WSMB. Maybe get a deal on one of the Citadel stations? Let the rumor-mongering and head-scratching begin!
 
might want to think twice about giving up that Huge coverage,the Big 870 provides.
 
menotti1 said:
might want to think twice about giving up that Huge coverage,the Big 870 provides.
Click to expand...

That's old style thinking. Coverage isn't important anymore - but money always is. Right now, Benson doesn't own the Saints Radio Network - Entercom does. He buys a radio station, makes it the Flagship of HIS network that HE controls - he sells all the ad time and the network AND local.- more money in his pocket to pay for big-name stars on the field - or line his own pockets. Need to fill coverage now that you're off the Big 870? Find more affiliates - which drives up the cost for a network spot.

The age of having your product on the old "clear channel" station is over. Quit thinking in that way.
 
with the state of broadcasting on main street and wall street,benson should have NO problem buying media properties in the Big Easy,maybe Entercom or CC might entertain offers..But still Benson has a team that can't get further than an occasional playoff,but makes money just the same.New Orleans deserves a team that can at least get to a super bowl.Been a long dry spell for that franchise.
 
Did anyone hear or see the press conference? He's a doddering old fool, "We're going to get into movies, and film parts here and that's going to seen nationwide..." His internet comments alone are laughable. The NFL controls the web for their teams. Teams get a revenue cut just like the tv deal.

I doubt, given that he has no track record, he would be able to control a TV Station and Radio Station(s) in the same market. He still would need a waiver and in market 54 (or whatever New Orleans is now), I doubt he would get it.

It would be easier for him to buy the time on WWL (or another station) and still control the network without the significant investment.

He could buy Baton Rouge, Lafayette, Biloxi-Gulfport, or Mobile-Pensacola though without any waivers/legal issues have WWL put the Saints only on the FM and build his own network.

Also interesting, the guy behind this is Joe Cook, the former WVUE GM (also was at WALA in Mobile). Joe Cook has zero radio background. I think the odds of Benson buying New Orleans radio are pretty slim.
 
Some time ago, Ken Trahan "I think thats how it's spelled", was fired for WWL talking to the Saints about starting their own radio network and making him the star. Well, I would bet that Ken is behind the radio part. And , no real big loss to WWL if they loose the Saints. They make about 100K in revenue over what they spend for the rights to cover the games. Not having the team would allow them to be more critical of the team. But, I would expect when the team gets a radio station and or network to see WWL's DePaul Smith exit to Mr. Bensons crew as DOS for his empire. If the Saints do put a winner on the field, the next stop will be Los Angeles. Be Sweat!
 
i sure agree with nolaradiobuff on this one.Benson is tripping.The only happy player here is Emmis.(they are laughing their A-- off).Pal, if i had a AM or FM in New Orleans or Laplace,i;d be knocking on Benson's door,(and praying they could get a waiver) before he comes out from under the ether.Have you seen the stock prices of all these corp.radio pigs?In the crapper.Mr.Benson, pour up some cold Dixie beer and for gosh sakes Chill Out.RF
 
You right. Look at Entercom for instance (symbol: ETM), in the $70+ range per share in January 2000, to around $8.00 in April 2008.

The pigs are dying at the trough. Pigs deserve it. Especially pigs who destroy a beautiful business for their own greed.
 
Mr.Benson is confused,he thinks he owns the Giants or the Colts.Come on TOM,get a grip.Broadcasters LOVE old men with money.Always remember,THE PIGS GET FATTER, THE HOGS GET SLAUGHTERED.Lots of truth in that statement.
 
What's that supposed to mean? That people keep fat pigs around for pets? Pigs and hogs both get slaughtered. It's a fitting end for them.

Radio corporate pigs and hogs, take note.
 
Other than Mr. Benson getting in over his head, this is not an entirely bad move. As beernuts pointed out, the media market is at a very low point in valuation, Emmis being a particularly pefect "trainwreck," so one would think there is "blue sky" to be had here. This move at least would SEEM to solidify the Saint's commitment to New Orleans, and that would appear to be a good thing.
How ironic if Fox 8 made a deal with the Hornet's to give them an "over-air" partner in the market like most NBA teams have.
$$$ could sure make strange bedfellows, aye?
Also, anytime a local can buy a major media outlet it seems like a good thing to me, but then, all you have to do is look at WGSO am to know I probably don't know what I'm talking about.
??? ???
 
No doubt it is, or could be, a good thing. The price shows how media has falled in New Orleans. TV is still selling in the mid-teens multiples so FOX 8, even with a bare bones news staff, is only cashflowing about $3 Million at a 13-14x multiple. That's pathetic.

The thing you have to worry about now, and really anytime locals are involved, is journalistic integrity. Will Eric Richey nail Sean Payton when the Saints lose 2 games in a row? How critical can they be if Reggie Bush has a fumble on the goal line that loses a game? What about coverage of the Hornets? Who are Benson's business and political friends and enemies?

If he's a handsoff owner who lets broadcasters run things, we're ok. If he meddles, the station will go down the toilet. Let's watch and see if there's a talent exodus.
 
Mr. Benson, if you're reading this, I have a great idea for you to run head to head with channel 4 for number one in news:
1. Get Darrell Greene back for mornings with Kim
2. Lure Karen Swensen back to New Orleans for the nine o'clock news, team her up with Rob Masson.
It's time for Nancy Parker/John Snell to semi-retire(just do five o'clock news)
3.Also, lure Hoda Kotb back to New Orleans as well.
I promise you, with those three, YOU WILL MAKE PLENTY MONEY.........
 
axedriver said:
Mr. Benson, if you're reading this, I have a great idea for you to run head to head with channel 4 for number one in news:
1. Get Darrell Greene back for mornings with Kim
2. Lure Karen Swensen back to New Orleans for the nine o'clock news, team her up with Rob Masson.
It's time for Nancy Parker/John Snell to semi-retire(just do five o'clock news)
3.Also, lure Hoda Kotb back to New Orleans as well.
I promise you, with those three, YOU WILL MAKE PLENTY MONEY.........
Click to expand...

One more thing, Mister Benson:
Start up an I-TEAM with Kaare Johnson and Eric "Slasher" Asher
 
the question you guys should ask is not what he would do to any radio station he may buy its what format he will use and who will run things for him dont you think though that he may snag the Hornets with him too wouldnt that be grand and while we are at it, who are the most likely radio stations that Benson may but is it Citadels stations, WGSO or maybe Clear Channel especially 1280 am.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom