-
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
WBLS sold to ESPN ?
- Thread starter wprt949
- Start date
Unless Intercity ha$ $$$ trouble, I do not think so. This is a top 10 (beauty contest) rated station. An ESB signal is very expensive. Does Disney think they can bill enough extra money over what 1050 is making to pay for ESB signal. Of course this is radio and sometimes, stuff happens.
It wouldn't shock me if this is true.
The trend as of late seems to be sports radio on the FM. WEEI (Boston) has a couple of FM stations throughout the New England region. Just recently WYSP (Philadelphia) ended its classic rock run putting AM sports radio station WIP onto the FM side. It just seems to be the next logical step. I am hoping that things work out well with 92.3 Now because if it doesn't I can easily see WFAN occupy 92.3 in the future, especially if Disney has 107.5 as the ESPN flagship.
The trend as of late seems to be sports radio on the FM. WEEI (Boston) has a couple of FM stations throughout the New England region. Just recently WYSP (Philadelphia) ended its classic rock run putting AM sports radio station WIP onto the FM side. It just seems to be the next logical step. I am hoping that things work out well with 92.3 Now because if it doesn't I can easily see WFAN occupy 92.3 in the future, especially if Disney has 107.5 as the ESPN flagship.
secondchoice said:
It's Inner City, and they're in Chapter 11. That's $$$ trouble.
It's one way of solving their debt problem, but it would need the judge's approval. As I've said in other threads, my sense from Disney is they're not looking to buy towers and transmitters. They're in the content business. This doesn't mean they wouldn't partner with someone, perhaps help with financing or other things to get their content in from of more people. Would ESPN, as a division of Disney, buy it? That's a different question. Disney seems to be a centralized company, with everything feeding the Mouse. But maybe this would be a change in MO. To the best of my knowledge, ESPN itself does not own, and has not bought any radio stations.
TheBigA said:
There are four Disney-owned ESPN Radio stations in New York (WEPN), Chicago, Los Angeles and Dallas (each owned under its own dummy corporation). In Chicago, WMVP's studios are in Disney's State Lake building (as are WLS AM and FM, rented by Cumulus) and a showcase studio is located on State right next to WLS-TV's storefront studio where their newscasts originate. I would say that they're part of the Disney/ESPN family and run by Bristol.
I've said before and will say again that if the Suttons sell either or both of their flagship stations in NY, they're getting out of the radio business.
Not that it's a credible source, but here's what Wikipedia says:
A [bankruptcy] filing could result in majority control of Inner City being taken over by Ron Burkle's Yucaipa Companies, and basketball legend Earvin "Magic" Johnson's Magic Johnson Enterprises.
Yucaipa is an investment company that owns part of Whole Oats and Pathmark grocery stores. We all know who Magic is. Could Magic partner with ESPN? That's a creative idea. Magic brings the money, ESPN brings the content. Sounds like a deal to me. But it's all hypothetical.
A [bankruptcy] filing could result in majority control of Inner City being taken over by Ron Burkle's Yucaipa Companies, and basketball legend Earvin "Magic" Johnson's Magic Johnson Enterprises.
Yucaipa is an investment company that owns part of Whole Oats and Pathmark grocery stores. We all know who Magic is. Could Magic partner with ESPN? That's a creative idea. Magic brings the money, ESPN brings the content. Sounds like a deal to me. But it's all hypothetical.
secondchoice said:
Inner City has, one could say, immense money problems. They are technically bankrupt and the major holder of secured debt, Yucaipa, is working on a transfer of control solution... first they tried to do this amicably, even leaving Mr. Sutton's son in a position... and likely they will become more hostile.
Disney does not have a "normal" billing and profit goal for Radio Disney and ESPN Radio. The two networks are part of the brand marketing of Disney and ESPN and are also seen as a promotional vehicle. When they cease to do that, they will morph or go away.
TheBigA said:
I don't see Magic Johnson dumping the format for an ESPN feed. His businesses are heavily focused on building black communities (especially in real estate, where he's done a pretty impressive job). Why would he dump the city's best-known urban station?
How much billing time the lawyers would make on this deal. Its has to be huge. Per Station, I bet it is bigger then the Citadel / Cumulus. Dealing with a Bankruptcy Court can run the billing hours up.
The extent of the involvement of Magic Johnson Enterprises in this Inner City Broadcasting bankruptcy isn't really that clear.
The main creditor is Ron Burkle's Yucaipa private equity fund. Magic Johnson Enterprises and Yucaipa have jointly invested in some companies in the past, but Magic Johnson Enterprises has not been listed as a major creditor in the news reports on the Inner City bankruptcy.
Yucaipa made its money buying and selling supermarket chains, including Pathmark, which it sold to A&P a couple of years back.
It is now making investments in the African-American community including banks in places like Newark, NJ.
Former President Bill Clinton, has been both an advisor and investor in Yucaipa, and is said to be a close friend of Ron Burkle.
Given the importance of WBLS in the African-American community it would be a real surprise to see it sold to ESPN. On the other hand, WLIB probably is no longer worth that much. It was reported today that WHAT AM 1340 in Philly was sold for $475,000. Talk about a decimated asset, Inner City Broadcasting sold that station five years ago for $5-million. New York isn't Philly, and WLIB isn't WHAT, but in the latest rating period WLIB had a weekly cume of 187,000 and that isn't valuable.
Meanwhile, ESPN has good business reasons for wanting their programs on FM in the NYC market. They were long said to be interested in buying WRXP from Emmis, but were obviously outbid by Merlin, possibly because Merlin was willing to also buy the two Chicago stations as part of the deal.
Given the recent moves of major market sports talk stations to FM in Philly and Boston, ESPN may want to grab whatever opportunity it has to own a NYC FM.
The Innercity Bankruptcy plan is expected to be filed in about two weeks, and the company expects to emerge from bankruptcy by the end of the year. So, we won't have to wait that long to find out what is going to happen.
The main creditor is Ron Burkle's Yucaipa private equity fund. Magic Johnson Enterprises and Yucaipa have jointly invested in some companies in the past, but Magic Johnson Enterprises has not been listed as a major creditor in the news reports on the Inner City bankruptcy.
Yucaipa made its money buying and selling supermarket chains, including Pathmark, which it sold to A&P a couple of years back.
It is now making investments in the African-American community including banks in places like Newark, NJ.
Former President Bill Clinton, has been both an advisor and investor in Yucaipa, and is said to be a close friend of Ron Burkle.
Given the importance of WBLS in the African-American community it would be a real surprise to see it sold to ESPN. On the other hand, WLIB probably is no longer worth that much. It was reported today that WHAT AM 1340 in Philly was sold for $475,000. Talk about a decimated asset, Inner City Broadcasting sold that station five years ago for $5-million. New York isn't Philly, and WLIB isn't WHAT, but in the latest rating period WLIB had a weekly cume of 187,000 and that isn't valuable.
Meanwhile, ESPN has good business reasons for wanting their programs on FM in the NYC market. They were long said to be interested in buying WRXP from Emmis, but were obviously outbid by Merlin, possibly because Merlin was willing to also buy the two Chicago stations as part of the deal.
Given the recent moves of major market sports talk stations to FM in Philly and Boston, ESPN may want to grab whatever opportunity it has to own a NYC FM.
The Innercity Bankruptcy plan is expected to be filed in about two weeks, and the company expects to emerge from bankruptcy by the end of the year. So, we won't have to wait that long to find out what is going to happen.
If ESPN lands on 94.7 or 107.5 in NYC, WFAN will definitely simulcast on 92.3. Given recent events in Philly and Boston, it's inevitable. 
Does anybody know how much money was involved in Inner City's acquiring the Fort Wayne, IN blowtorch WOWO from Price Communications, as well as their immediately pawning it off to its current owner, Federated Media, after neutering their 50,000-watt signal? I've been looking on Google and could not find a price (no pun intended). Point being: Should Inner City sell WBLS, you'd think they'd be satisfied with their AM property, WLIB. Considering the great lengths they went to back in 1994 to purchase one of the great 20th-century clear-channel stations, for the sole purpose of snipping its power and moving on, you'd think they wouldn't have any qualms about holding onto AM 1190 - of course, considering they have the financial wherewithal to do so. But based on their converting WLIB from a daytimer to a round-the-clock signal, at the expense of the home of "Little Red Barn" and Fort Wayne Komets hockey, I'd be absolutely shocked if WLIB isn't sold upwards of $500,000.
radioguy39nj said:If ESPN lands on 94.7 or 107.5 in NYC, WFAN will definitely simulcast on 92.3. Given recent events in Philly and Boston, it's inevitable.
Isn't CBS allowed one or two more FM signals in this market? Why not CBS go after 94.7 for the sole purpose of simulcasting WFAN. That would likely lead a despondent Mickey to revert to the old WEVD format! ;D
If this rumor is true, this may very well be the end of a heritage radio station that has deep roots in Black radio.
I've had a thread on the NYRMB on that Black radio station owners and Black formatted stations were calling on the Congressional Black Caucus for financial aid, because those stations were losing ad revunues due to the PPMs.
Thanks,
Kevin L. Sealy
I've had a thread on the NYRMB on that Black radio station owners and Black formatted stations were calling on the Congressional Black Caucus for financial aid, because those stations were losing ad revunues due to the PPMs.
Thanks,
Kevin L. Sealy
DToTheJ said:
$2.3 million for WOWO and WOWO FM.
WLIB is probaby worth, today, in the $10 million to $20 million range, based on the sales in the last decade. This is not the $78 million paid for WEPN in 2002 or the $37 million paid for Mega's WKDM around the same time, but it is a big piece of post-recession change.
I honestly think 94.7 wouldn't be the best idea for a simulcast, since it doesn't cover the area as well as the typical NYC FM station.
Also what is the deal with 92.3 these days? Their overall numbers don't seem to be doing that well compared with Z100, so is it a losing battle worthy of having one of CBS' AMs move there?
As much as I think 1050 needs to be on FM, it would be sad if WBLS was the sacrificial lamb.
Also what is the deal with 92.3 these days? Their overall numbers don't seem to be doing that well compared with Z100, so is it a losing battle worthy of having one of CBS' AMs move there?
As much as I think 1050 needs to be on FM, it would be sad if WBLS was the sacrificial lamb.
Let's rule out 104.3 and 105.1... Power 105 and Q104 are doing well so I don't expect CC to put sports on either
94.7? Moving it in would be a pain because of 94.7 WMAS in Springfield area, you'd have to build a directional in that way...
What about 99.5? I consider WBAI wasted space, at least in my opinion... what about a trade of 1050 + cash for 99.5?
It'd be a shame to see WBLS go, as it is indeed a heritage... but if ESPN moved to FM, we'd probably expect a WFAN-FM on either 92.3 or 102.7...
94.7? Moving it in would be a pain because of 94.7 WMAS in Springfield area, you'd have to build a directional in that way...
What about 99.5? I consider WBAI wasted space, at least in my opinion... what about a trade of 1050 + cash for 99.5?
It'd be a shame to see WBLS go, as it is indeed a heritage... but if ESPN moved to FM, we'd probably expect a WFAN-FM on either 92.3 or 102.7...
- Status