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WDDK-Greensboro, GA Dock 103.9

T

troone

Guest
I'm just now hearing that Chip Lyness sold it..is this true? Who is the owner and what are they doing with it?
 
troone said:
I'm just now hearing that Chip Lyness sold it..is this true? Who is the owner and what are they doing with it?
Click to expand...

Hadn't heard this until you mentioned it but a little searching turned up this:
http://www.rbr.com/epaper/pages/january05/05-12_transactions.html

$1,031,250 WDDK-FM Greensboro GA from Briarpatch Radio Inc. (Arthur Lyness) to Wyche Services Corporation (Paul C. Stone, Suzanne B. Stone). $25K escrow, $925K cash at closing, $81,250 consulting agrement with Sandra J. Gwyn. [File date 12/17/04.]

Notice the date, nearly three years ago. Was that a deal that never closed, or is that what you're referring to? Or am I just having a brain cramp and Stone has owned this for a while & I (and maybe you?) just didn't realize/remember it?
 
I'm not surprised my info is 3 years late. The Pony Express from Greensboro to Atlanta is running slower, I guess.

As for the sale price, I'm astounded. My guess is station gross rev was less than $500,000 and profit was 10% maybe. So, he gets 20 times cash flow for a 6kw in the middle of nowhere?!! I know the antenna and equipment are part of the value too, but still...

Way to go, Chipper! If you're reading this, you taught me everything I know about media ownership!
 
troone said:
As for the sale price, I'm astounded. My guess is station gross rev was less than $500,000 and profit was 10% maybe. So, he gets 20 times cash flow for a 6kw in the middle of nowhere?!!
Click to expand...

Strictly FWIW, and based entirely on guessing myself, I'd have bet that the revenue was at least 50% higher than your guess. It is pretty much out in the boonies, but those boonies happen to provide access to one of the most affluent areas around with Reynolds Plantation & similar.
 
True about Reynolds, but even at a station like that, $1000/month clients are rare. I doubt they'd have 50. They might not have 50 monthly clients of any size.

I think appreciation in radio station sale value is second only to that of major league baseball teams!

Good stuff, middlega
 
Hi, I got your note. I worked at PUP very briefly on the sly when it was still up in Royston. Then, the PD at WNGC found out that I was moonlighting and made me pick one station or the other....I dont think we met, Benji. The only guy I met was Caveman - unless that's you!
 
Nope, that's not me, though i was pretty tight with him for awhile. he's still around, though. doing oldies somewhere i think. Somewhere in Alabama i think.
 
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