WAGI-FM Sold to become Charlotte Station

[henry_G]

I have been told by someone who works in the Greenville-Spartanburg Market that 105.3 WAGI is going to be sold to a Charlotte based company for about 47 Million and become a Charlotte station. The Owner of Gaffney Broadcasting died a few weeks ago and the children are selling. Any truth to this????

 

[thebroker]

Rumor has it, WAGI-FM is to be donated to Limestone College after Bright Parker's passing. We'll see how things pan out, but I really can't imagine that particular signal going for $47Million. Of course, if the rumor is true and it does go to Limestone College, perhaps they'd be smart to sell it and raise some cash.

But as for the $47Million pricetag, I do happen to know a thing or two about valuation, and I really can't see that signal go for such a high price. Look at the recent deal through which Entercom will acquire three stations from Barnstable. Those three stations are well-established, and two of them are doing GREAT business. The price for all three was only $45Million.

So, my guess is, the rumor isn't true, at least not in that form.

 

[bp37918]

Maybe they left out a decimal point. 4.7 million.


Rumor has it, WAGI-FM is to be donated to Limestone College
> after Bright Parker's passing. We'll see how things pan out,
> but I really can't imagine that particular signal going for
> $47Million. Of course, if the rumor is true and it does go
> to Limestone College, perhaps they'd be smart to sell it and
> raise some cash.
>
> But as for the $47Million pricetag, I do happen to know a
> thing or two about valuation, and I really can't see that
> signal go for such a high price. Look at the recent deal
> through which Entercom will acquire three stations from
> Barnstable. Those three stations are well-established, and
> two of them are doing GREAT business. The price for all
> three was only $45Million.
>
> So, my guess is, the rumor isn't true, at least not in that
> form.
>