WAAF sold to EMF....

[Retro]

Is that how big radio companies decide to sell stations? Get a "very last minute" offer and "suddenly" accept it? No lawyers to go over contracts, no meetings of the board of directors, no opportunity to try to get a better offer? Impulsive behavior is not something I associate with corporate America.

Well maybe not, however am sure that you have been around long enough an I, if noy even longer to know that anything is always possible.

 

[raccoonradio]

ETM 1% growth last quarter (acc to @bostonradio tweets).They "really needed the money" involved in the WAAF sale, and 107.3 was described as a "non-strategic Worcester FM station with a limited market coverage"

 

[Eli Polonsky]

Is that how big radio companies decide to sell stations? Get a "very last minute" offer and "suddenly" accept it? No lawyers to go over contracts, no meetings of the board of directors, no opportunity to try to get a better offer? Impulsive behavior is not something I associate with corporate America.

Money talks quickly in the New Millennium. They can get lawyers who specialize in the field to go over things, if necessary, probably within a couple of days. Is there a Board of Directors? I’d guess these decisions are made, possibly sometimes quickly, by executives at the corporate level. And, who else but EMF would have made a better offer for this underperforming signal? It’s metro-west suburban coverage that is fairly lousy in the markets’ major city may work relatively well for EMF’s mainly residential donation-based audience, but is probably not attractive to commercial companies who would want to compete with a commercial format in Boston and the immediate densely populated metro within Route 128.

 

[DavidZ]

Mistress Carrie featured in a Jessica Heslam column in today’s Boston Herald.

She is also a guest during one of tonight’s segments in Greater Boston on WGBH-TV.

https://www.bostonherald.com/2020/02/24/demise-of-rock-n-roll-at-waaf-leaves-dj-spinning/

 

[Fenway1912]

https://www.youtube.com/watch?v=sAmYQs-R_HU

 

[DonMatsen]

Saga's WAQY Springfield, MA, is still all local from 5:30 a.m. to 10 p.m., jockless autopilot overnight. Most of that staff has been at WAQY or in the market so long -- Bax and O'Brien, Bob Kester, Dan Williams -- that it's hard to imagine the station without them. But would an out-of-town morning show or a voicetracked midday shift cost it listeners or advertisers?

Credit where credit is due. WAQY, for sure, is one of the best. Time to investigate. I wonder if they are used for voice tracks in any of the other Saga markets? I know that the company does with some of the other formats.









sag

 

[DonMatsen]

Oh, also ... Saga's Norfolk, VA. rock station, FM99 WNOR, should get one of their talents to do some voice tracking for WAQY's overnights! No brainer.

 

[wcozBoston]

ETM 1% growth last quarter (acc to @bostonradio tweets).They "really needed the money" involved in the WAAF sale, and 107.3 was described as a "non-strategic Worcester FM station with a limited market coverage"

Still wonder why Entercom retained WAAF as part of the CBS-Entercom merger. They could not have retained WBZ-FM but might have found a way to hold on to WZLX so the Boston cluster could have been WEEI-FM, WODS, WBMX, WMJX and WZLX. Did Entercom consider the revenue from WMJX as part of the arrangement with the FCC and Justice Deptartment or was that an after the fact deal with Beasley to swap WBZ-FM for WMJX? If this scenario held true, Entercom could have sold WAAF to EMF, or another entity, at the time of the merger.

 

[TheBigA]

Did Entercom consider the revenue from WMJX as part of the arrangement with the FCC and Justice Department

I'm sure they did. The factors considered were the percentage of revenues in the Boston market, and tax liability. The revenues of ZLX may have put them over the limit. Plus other potential buyers or trading partners already knew the reality of the station so that limited what they could do with it. Now two years later, they may have been in a better situation to sell.

 

[Retro]

Still wonder why Entercom retained WAAF as part of the CBS-Entercom merger. They could not have retained WBZ-FM but might have found a way to hold on to WZLX so the Boston cluster could have been WEEI-FM, WODS, WBMX, WMJX and WZLX. Did Entercom consider the revenue from WMJX as part of the arrangement with the FCC and Justice Deptartment or was that an after the fact deal with Beasley to swap WBZ-FM for WMJX? If this scenario held true, Entercom could have sold WAAF to EMF, or another entity, at the time of the merger.

My theory is that Entercom may have been asking too much for the station on the first go around. Besides, they were making some other big purchase stations at that time as well, so it may not have been a good financial move to buy the station at the time.

I also think that Entercom thought that they could still get some value out WAAF at that time too.

That is just my assessment anyway.

 

[Wimmmex]

I am the only one who thinks that religious stations should stay out of the commercial portion of the band?

You can't restict a station to a specific part of the band based on their programming.

Especially since they are buying all these high power stations in big markets (with tax free money)

Non profits all use "tax free money". Red Cross, Boy Scouts, Museums, Amnesty International. Why is this different?

I still can't believe what happened to PLJ and now this.

Why can't you believe it? There is not enough ad revenue to maintain their current business model.

 

[Deleted User]

Mistress Carrie on WGBH's "Greater Boston" with Jim Braude

https://youtu.be/sAmYQs-R_HU

 

[Least]

Of course, your comment will trigger those "if they had only played more of xxx and less of yyy and zzz, they would have won big"./QUOTE]

The fact that you referenced my opinion in the manner a day and a half after you knew that I was incapable of responding directly back is beyond telling. But, good things come to those of us with patience. I was going to just move on, but after seeing this a couple days ago, I decided to come back for this final post.

I was banned last Friday for "name calling". Particularly, the statement in the notice was that I called you (a mod) a liar. You, I, and everyone who followed our interactions last week know that I didn't call you such. I said that you were "lying/twisting my statements", which is different than calling you a name. I criticized your actions in our debate, which was rewording my statement. Simple logic 101 agrees with me. There's a stark difference between what I said and what I was fraviliously banned for "saying".

To be clear, a day and a half earlier, you referred to my statements as childish and juvenile. Therefore, under your own perception, you were name calling. Called me childish and juvenile. Yet, no week long suspension for you.

Before I logout for the last time, a few things.

1. I wish everyone the best. I mean that whole heartedly. Best to you all.

2. Big A, I again apologize for writing a statement that I meant towards radio insiders, but was written as if I was saying such to you. Thank you for the years of debates. I never wanted you to agree with me, but rather to have the discussion, which you did honorably.

3. To the member who's name I don't have, who debated me last week, people like you with 40 years in the business and can say "yes we make mistakes, but this is what is leading to my conclusion in this discussion", thank you. More people like you will make this world a better place.

Finally. Dave, should you chose to respond, I ask that (as a mod) you get the email address attached to my username and respond to me there. I won't read it here. But, based on the above facts that I pointed out, I'm not holding my breath for you to do so.

I wish you all well. Goodbye.

 

[passtheword]

Of course, your comment will trigger those "if they had only played more of xxx and less of yyy and zzz, they would have won big"./QUOTE]

The fact that you referenced my opinion in the manner a day and a half after you knew that I was incapable of responding directly back is beyond telling. But, good things come to those of us with patience. I was going to just move on, but after seeing this a couple days ago, I decided to come back for this final post.

I was banned last Friday for "name calling". Particularly, the statement in the notice was that I called you (a mod) a liar. You, I, and everyone who followed our interactions last week know that I didn't call you such. I said that you were "lying/twisting my statements", which is different than calling you a name. I criticized your actions in our debate, which was rewording my statement. Simple logic 101 agrees with me. There's a stark difference between what I said and what I was fraviliously banned for "saying".

To be clear, a day and a half earlier, you referred to my statements as childish and juvenile. Therefore, under your own perception, you were name calling. Called me childish and juvenile. Yet, no week long suspension for you.

Before I logout for the last time, a few things.

1. I wish everyone the best. I mean that whole heartedly. Best to you all.

2. Big A, I again apologize for writing a statement that I meant towards radio insiders, but was written as if I was saying such to you. Thank you for the years of debates. I never wanted you to agree with me, but rather to have the discussion, which you did honorably.

3. To the member who's name I don't have, who debated me last week, people like you with 40 years in the business and can say "yes we make mistakes, but this is what is leading to my conclusion in this discussion", thank you. More people like you will make this world a better place.

Finally. Dave, should you chose to respond, I ask that (as a mod) you get the email address attached to my username and respond to me there. I won't read it here. But, based on the above facts that I pointed out, I'm not holding my breath for you to do so.

I wish you all well. Goodbye.

No surprise there...

 

[davideduardo]

Of course, your comment will trigger those "if they had only played more of xxx and less of yyy and zzz, they would have won big".

The fact that you referenced my opinion in the manner a day and a half after you knew that I was incapable of responding directly back is beyond telling. But, good things come to those of us with patience. I was going to just move on, but after seeing this a couple days ago, I decided to come back for this final post.

I have no idea why you would take personally a comment that your public posting might trigger a certain kind of response regarding the music mix on the station. My intent was to say that there are always people, and particularly so in rock formats, who believe the formats are declining in many instances due to playing the wrong mix or the wrong artist or the wrong years or something else, also wrong.

The fact is that rock has lost a large portion of its interest in younger demos... Millennials and even younger Gen X listeners, so the shares in most markets have declined and some stations have defected.

I was banned last Friday for "name calling". Particularly, the statement in the notice was that I called you (a mod) a liar. You, I, and everyone who followed our interactions last week know that I didn't call you such. I said that you were "lying/twisting my statements", which is different than calling you a name.

Calling a person a liar (noun) or saying they lie (verb) is the same thing. You are making up things now

I criticized your actions in our debate, which was rewording my statement. Simple logic 101 agrees with me. There's a stark difference between what I said and what I was fraviliously banned for "saying".

As a public clarification, both moderators evaluated the post before making a decision. Since I frequently post and often have strong or contrarian opinions, I deferred to our "Moderator in Chief" for a final call to avoid any personal bias I might have after being told I had lied.

Which, by the way, I did not.

To be clear, a day and a half earlier, you referred to my statements as childish and juvenile. Therefore, under your own perception, you were name calling. Called me childish and juvenile. Yet, no week long suspension for you.

Making or suggesting other people make harassing crank or insulting calls to a radio operator who has legally acquired a declining radio station is, indeed, immature. I stand by the statement, and, still, consider your subsequent attempt to justify it as "humor" to be unjustified.

Finally. Dave, should you chose to respond, I ask that (as a mod) you get the email address attached to my username and respond to me there. I won't read it here. But, based on the above facts that I pointed out, I'm not holding my breath for you to do so.

I have better things to do than trying to win a Pyrrhic victory.

It would have been easier if you had said, "I over-reacted because I love that station..." and we all would have understood.

 

[Deleted User]

I was doing some reading on the history of WAAF going back a bit, and the 10.75 million is a fraction of what it has sold for in the past, even without counting inflation.

I wonder if EMF is absorbing some debt or are rim shot to major market FM's worth that little?

In other news, Entercom parked the WAAF calls on an AM in PA somewhere and 107.3 is for the moment WBZU FM

 

[b-turner]

To answer the question about station values, I can tell you radio station prices have dropped drastically. One station I worked in a top 10 market used to get calls offering about $7 million or so for an AM daytimer. Today the best offer is less than the cost of land and equipment...about $500,000. I have seen prices at about 10-15% of what a station sold for 8 to 10 years ago.

An owner I know sold several of his stations for under $250,000 for 6 stations and a translator. Two are in rated markets although they are AMs, the other 4 are FMs and mostly in communities over 25,000 in population with a long presence in the communities. And the equipment is in good shape. In other words, these are not dogs. I'm amazed at the sale price on these.

Pretty much, from what I can gather, it's fire sale pricing for radio right now. In fact, I read an interesting article aimed at newspaper and radio. The writer was a newspaper owner. He noted how many small towns throughout the country had successful radio and newspaper businesses. He noted the typical owner waited until failing health or until the point they want to retire before listing their paper or station for sale. Many times the time frame between listing and actually selling means many just shut down or sell at giveaway prices. In another article, a radio guy that could sell advertising approached a radio station owner with the idea that he'd sell and act as the right hand man for the owner that had a sales position open. The guy wanted a sweat equity deal where he got 15% commission as a paycheck and 15% applied to a down payment on the station at the predetermined price. Four years later he got a note on the balance owed and took ownership.

I can't see that changing too much in the future. A 'perfect storm' of sorts is happening. Local merchants are the cake as far as radio revenue goes. The increased presence of national chains and the increase in online shopping has lowered revenue for the local business and thus, lowered the amount they spend on advertising in general. Add in the fact businesses have many more advertising options (online advertising is a 'must have' in the minds of most local merchants) and these options have become much more aggressive in recent years. I'm seeing markets where the small market station that is the only one serving a county with local news, high school sports and such barely eclipsing 50 to 75 cents per thousand dollars in retail sales when that figure may have been around $3 in say, 1995 or even 2000. In a rapidly growing area (small market) the local station used to bill about $60,000 a month on average around 2008. Today they barely hit $30,000 a month on average. Factor in population growth and inflation over the 12 year period. Also, another factor is an increase in the number of stations on the dial trying to get revenue.

 

[Retro]

Well, tomorrow is supposed to be the day to see if something happens to 103.3 or not? In the beginning, it seemed highly speculative that maybe WAAF would relaunch on WODS tomorrow.

But after Mistress Carrie being on various media venues, and even radio.com putting out the the last 12 hours of audio of WAAF on its website, I am highly doubtful at this point!

The only exceptions would be that they still plan to launch, minus Mistress Carrie, or Emtercom succeed's in pulling off the worst handled PR move in Boston history! Option #3, if there is even one, a new active rock station launches, complete with entirely new branding, call letters, etc. This last one is so unlikely though, it is just like reaching for straws instead!

No matter what the case, it is just so unlikely at anything will happen at all!

 

[PTBoardOp94]

I wonder if EMF is absorbing some debt or are rim shot to major market FM's worth that little?

There aren't a lot of comparable single-station sales in major markets these days, but $10.75 million doesn't seem outlandishly low. The most comparable transaction that comes to mind right now is WCKL, the former WLUP in Chicago. That was purchased by EMF in 2018 for $21 million -- and that qualifies as a full-market signal, something that WBZU does not.

 

[TheBigA]

I wonder if EMF is absorbing some debt or are rim shot to major market FM's worth that little?

All they're getting is the license. No studios, no property, no nothing.