Well, THIS is unique...

[AceBiscuits]

What do these remarks add to the conversation? The moderator even likes it. That speaks volumes about David. Buddy's contributions largely consisted of rants against Nielsen and how they were cheating WECK.
Compelling stuff. Ad agencies have been buying TV and Radio combos for decades. Not exactly a new idea...

Consider that both parties rants are extremely annoying and everyone is over it.

 

[davideduardo]

David, I enjoy your assessments on radio stations but I have to respectfully disagree. ‘There is no such thing as a successful radio station in Key West’? How can you possibly know that without evaluation a P and L statement? Go to Zillow and search homes for Key West. Try to find one under a million. You cannot make this assumption as you do not know rev and expenses of the station.

I've known past owners and several broadcasters who visit the market... which always has several stations off the air. It is as bad as St. Thomas, but at least you can drive there.

I'm in a market filled with million dollar homes and ten times the population. There are a number of silent stations, and only a couple that make money... because they are part of a TV operation.

from what I hear of a particular station in KW, owned by a particular person in Buffalo, I can tell you, that you are not correct.

He should write a book about "turning around a station in 90 days" as that would be an amazing story today.

I saw another post you wrote in a different market. It’s clear you do not think broadcast radio is a good business, in any market. In one comment you said you would not take a station in Wyoming even as a gift.

I almost went through with a purchase of a half-dozen stations in the Prescott-Flagstaff market area about a decade ago in a deal that was just barely in the 8-figure range. Today, the people I had contact with say that nobody in those markets is making a profit. A few local owners make a not-so-great salary, but there is no ROI.

for the record, there are some radio stations whose owner shall not be named that are cash cows with net profits over 50%.

Very few. In real dollars, meaning inflation-adjusted, radio revenue is off by over 60% since 2003.

i think you are singling out certain bad owners, while not acknowledging the good owners.

A good owner in a bad marketplace means " a nice guy going broke slowly". The test is when the studios have a fire or the transmitter is hit by lightening and that nice guy has to mortgage his home to get back on the air.

any business can be bad if it’s not run correctly. However, if it is, that is another story. Radio is a total cash flow business

Yes, there are some profitable stations. But we can go back decades and decades and, always, half of all stations were not profitable. Today, revenues are projected to be declining and/or not keeping up with inflation. The business model of advertiser sustained free radio and TV looks like it belongs in an "extended care" facility.

 

[HitThePost]

I've known past owners and several broadcasters who visit the market... which always has several stations off the air. It is as bad as St. Thomas, but at least you can drive there.

I'm in a market filled with million dollar homes and ten times the population. There are a number of silent stations, and only a couple that make money... because they are part of a TV operation.

He should write a book about "turning around a station in 90 days" as that would be an amazing story today.

I almost went through with a purchase of a half-dozen stations in the Prescott-Flagstaff market area about a decade ago in a deal that was just barely in the 8-figure range. Today, the people I had contact with say that nobody in those markets is making a profit. A few local owners make a not-so-great salary, but there is no ROI.

Very few. In real dollars, meaning inflation-adjusted, radio revenue is off by over 60% since 2003.

A good owner in a bad marketplace means " a nice guy going broke slowly". The test is when the studios have a fire or the transmitter is hit by lightening and that nice guy has to mortgage his home to get back on the air.

Yes, there are some profitable stations. But we can go back decades and decades and, always, half of all stations were not profitable. Today, revenues are projected to be declining and/or not keeping up with inflation. The business model of advertiser sustained free radio and TV looks like it belongs in an "extended care" facility.

David,

You are not correct. You‘re giving examples of everyone else but the one we all know we are talking about.

I don’t care who you’ve seen, or what happened, you do not know the P and L of unsaid owner.

As a former owner of radio, I cannot believe that you think people have to sell their house when a fire hits. There is such a thing called insurance.

I apparently will not be able to explain how successful said stations may be, because you are using every bad example to justify your point.

said radio station in Buffalo has been projected to be the number 6- 7 biller in the entire market, according to Miller-Kaplan.

said radio station in kw barely has expenses, so anyone with just a little sales knowledge would do great.

you are giving examples of everyone is bad at running a business. Said owner I’m pretty sure is very good at running business.

it‘s about nothing but great revenue and keeping expenses in line.

lets end this unless you have said owners p and l

 

[davideduardo]

I don’t care who you’ve seen, or what happened, you do not know the P and L of unsaid owner.

I know the size of the market, the transitory nature of much of the population, the billing in the market.

As a former owner of radio, I cannot believe that you think people have to sell their house when a fire hits. There is such a thing called insurance.

Lots of troubled stations cut back on insurance and expenses they can avoid, ranging from A/C maintenance to an auxiliary transmitter.

I apparently will not be able to explain how successful said stations may be, because you are using every bad example to justify your point.

Key West itself is a bad example. I've talked about it with past station owners and it is, if anything, worse than I have said.

said radio station in Buffalo has been projected to be the number 6- 7 biller in the entire market, according to Miller-Kaplan.

To be #7 it would have to bill more than $2 million. I don't think so.

said radio station in kw barely has expenses, so anyone with just a little sales knowledge would do great.

The tourist business does not buy radio so we are talking about local direct in a resort town.

you are giving examples of everyone is bad at running a business. Said owner I’m pretty sure is very good at running business.

You can't make money where there is none. Even Bob Holladay barely covers costs with 7 stations in the Keys; he paid iHeart an average of $150,000 each for 4 full FMs in 2014 and all are full 100 kw FMs. So, using standard multiples, each was billing about $6,000 a month. And you can barely build a 100 kw ERP FM for that amount.

The 3 Magnum stations are estimated to bill less than $150,000 in total. That is about $4,000 a month after commissions.

it‘s about nothing but great revenue and keeping expenses in line.

There are fixed expenses nobody can get around.

lets end this unless you have said owners p and l

I've done due diligence and station analysis many many times and gotten paid and recommended. Starting point is often looking at some measure of retail sales per household, CSI per household, cost of living index vs. comparable markets, etc., etc.

I've seen to many people want a station where they go to vacation. Traverse City, Key West, Panama City (FL), Palm Springs, Petoskey, Santa Fe and any ski resort. After a few years of mounting losses, depreciating transmitters and a horrible "off" season, they sell at a loss.

 

[Rusty Bridges]

This has been a very turbulent, but informative discussion. In a way, I'm relieved to not have participated ... until now, that is.

Mr. Eduardo's analysis here has been enlightening, especially as it relates to due diligence. I've "observed" a few transactions over the years, and one of the items that struck me is the number of times I've heard something to the effect of, "that should have turned up in due diligence." Clearly, there was something lacking in the "diligence."

Many years ago, a potential owner/buyer related a conversation he had with a seller. As the closing date approached, the buyer bluntly asked the seller, "What haven't you told me about this property?" As the story goes, the question hung in the air for a few seconds, which was telling. Not a good sign. The plausible CYA response to such a question is something to the effect of, "You've received all the known information relative to the property and the transaction." But instead, the seller asked, "What do you mean?" Also not good. Turns out, the transmitter site was infested with rats .... and snakes ... which fed on the rats. There also was a wetlands issue with the tower site. The base of the towers were slowly sinking.

The remediation for the rats and snakes was fixable. Remediating the sinking tower base(s) was another issue: Much bigger, and far more expensive to cure. How might these issues been missed during the due diligence process? How did the potential buyer discover these issues? One of the jocks late in the purchase cycle casually mentioned them, without prejudice, almost as a joke to one of the buyer's principals' sons. Typical dark-dj-inside-humor that abounds in many stations. (BTW, it abounds in far more professions than might be imagined. The same can be heard from a banker, doctor, nurse or attorney.) The station sale was nixed. Rats, snakes and a sinking tower base that didn't turn up in due diligence. They unduly turned up.

The other line from Mr. Eduardo was, "They sell at a loss." This struck me as being relevant these days to Audacy, which may not be fully "selling at a loss," but let's face it, the company is in serious trouble. I'll leave the "rats and snakes" analogies to those more witty than myself. Have at it.

 

[HitThePost]

As I have said, radio stations are no longer investments where they sell at huge multiples. They are cash flow businesses. Said person would never buy a radio station to sell it. However, done the right way, as said person knows, it’s insanely profitable now, and most likely, as long as we continue to provide idea and solutions to advertisers with any media, it will be profitable. That’s why said person has an ad agency. Because said person is not bound by just one media where an advertiser can flourish.

it’s all about how the company is run. Hire the best, and you’ll win.

have rats in the transmitter room, hire an exterminator…spend some money on your station.

for this sake of wrapping up this good back and forth, said person would never buy a station thinking they‘ll get rich selling it. The plan is never sell it, and take the cash flow now until retirement, then live happily ever after.

 

[HitThePost]

I know the size of the market, the transitory nature of much of the population, the billing in the market.

Lots of troubled stations cut back on insurance and expenses they can avoid, ranging from A/C maintenance to an auxiliary transmitter.

Key West itself is a bad example. I've talked about it with past station owners and it is, if anything, worse than I have said.

To be #7 it would have to bill more than $2 million. I don't think so.

The tourist business does not buy radio so we are talking about local direct in a resort town.

You can't make money where there is none. Even Bob Holladay barely covers costs with 7 stations in the Keys; he paid iHeart an average of $150,000 each for 4 full FMs in 2014 and all are full 100 kw FMs. So, using standard multiples, each was billing about $6,000 a month. And you can barely build a 100 kw ERP FM for that amount.

The 3 Magnum stations are estimated to bill less than $150,000 in total. That is about $4,000 a month after commissions.

There are fixed expenses nobody can get around.

I've done due diligence and station analysis many many times and gotten paid and recommended. Starting point is often looking at some measure of retail sales per household, CSI per household, cost of living index vs. comparable markets, etc., etc.

I've seen to many people want a station where they go to vacation. Traverse City, Key West, Panama City (FL), Palm Springs, Petoskey, Santa Fe and any ski resort. After a few years of mounting losses, depreciating transmitters and a horrible "off" season, they sell at a loss.

Still, you are wrong David. On every point. Said station in Buffalo cannot bill over 2 million? Really? You are dead wrong . Read those Miller-Kaps better

I know the size of the market, the transitory nature of much of the population, the billing in the market.

Lots of troubled stations cut back on insurance and expenses they can avoid, ranging from A/C maintenance to an auxiliary transmitter.

Key West itself is a bad example. I've talked about it with past station owners and it is, if anything, worse than I have said.

To be #7 it would have to bill more than $2 million. I don't think so.

The tourist business does not buy radio so we are talking about local direct in a resort town.

You can't make money where there is none. Even Bob Holladay barely covers costs with 7 stations in the Keys; he paid iHeart an average of $150,000 each for 4 full FMs in 2014 and all are full 100 kw FMs. So, using standard multiples, each was billing about $6,000 a month. And you can barely build a 100 kw ERP FM for that amount.

The 3 Magnum stations are estimated to bill less than $150,000 in total. That is about $4,000 a month after commissions.

There are fixed expenses nobody can get around.

I've done due diligence and station analysis many many times and gotten paid and recommended. Starting point is often looking at some measure of retail sales per household, CSI per household, cost of living index vs. comparable markets, etc., etc.

I've seen to many people want a station where they go to vacation. Traverse City, Key West, Panama City (FL), Palm Springs, Petoskey, Santa Fe and any ski resort. After a few years of mounting losses, depreciating transmitters and a horrible "off" season, they sell at a loss.

David, you are 100% wrong.

said station in Buffalo cannot bill over 2 million a year? Guess what! You may want to do the math on the Miller-Kaps since said station does not report.

Key West is worse than you said? Wrong again. Bob has stations that are horribly programmed and perhaps he owes money. Said station owner does not

Very wrong about Magnum stations, but feel free to discuss with Michael

said owner does not cut back on insurance and other must haves , so you are wrong again

none of what you are saying applies to said owner, so you can have the last word if you would like. said owner knows said owners business, and you are 100% wrong.

 

[davideduardo]

none of what you are saying applies to said owner, so you can have the last word if you would like. said owner knows said owners business, and you are 100% wrong.

The average time an outsider owns a vacation or get-away location station is about 3 years. Get back to me then when the station is silent and can't find a buyer.

Talk to people like Roy Henderson who wanted a station in Traverse City. Or any of the people who visited the Virgin Islands and wanted a tax-deductable vacation location. Or even CBS that owned a stand-alone in Palm Springs to justify gold holidays for top executives.

 

[davideduardo]

Still, you are wrong David. On every point. Said station in Buffalo cannot bill over 2 million? Really? You are dead wrong . Read those Miller-Kaps better

David, you are 100% wrong.

said station in Buffalo cannot bill over 2 million a year? Guess what! You may want to do the math on the Miller-Kaps since said station does not report.

You just revealed that you are Buddy. I was wrong in evaluating writing style. Sorry. Bye.

 

[Rusty Bridges]

Columbo in the house.

 

[KurtLockport]

I would say WLVL is a Lockport and Eastern Niagara County station. Is it Buffalo? Not really. And without the FM you aren't getting many people listening except maybe those tho left WBEN after their format change, if they didn't go to WHLD. Speaking of high school sports, they used to air them. They air Scholastic Bowl still.

WEBR formerly WJJL was pretty much just focused on Niagara Falls. Viewpoint, Public Service Announcements, Casa Rico Italian music. Maybe they get a few Erie County with the FM.

 

[davideduardo]

I would say WLVL is a Lockport and Eastern Niagara County station. Is it Buffalo? Not really. And without the FM you aren't getting many people listening except maybe those tho left WBEN after their format change, if they didn't go to WHLD.

Here is where logic and reality do not meet half-way. Nielsen defines markets (actually, "where Arbitron defined them long ago") based on the stations that the majority of people in a county listened to.

So if most people in Niagara County listened to stations that were home to Erie County, then Niagara was deemed part of the Buffalo market.

WEBR formerly WJJL was pretty much just focused on Niagara Falls. Viewpoint, Public Service Announcements, Casa Rico Italian music. Maybe they get a few Erie County with the FM.

And lots of bigger markets that have multiple counties and peripheral smaller towns with their own local limited coverage stations. But those stations don't benefit from "Metro Survey Area" ratings, they don't buy the ratings and they don't need ratings to sell.

 

[Rusty Bridges]

I would say WLVL is a Lockport and Eastern Niagara County station. Is it Buffalo? Not really. And without the FM you aren't getting many people listening except maybe those tho left WBEN after their format change, if they didn't go to WHLD. Speaking of high school sports, they used to air them. They air Scholastic Bowl still.

Give WLVL credit for airing Scholastic Bowl, although you have to wonder how many people listen to it when compared to the number of listeners high school sports (football, basketball, hockey, soccer, lacrosse) has the potential to draw. Just do the numbers based on the participants in each competition and the nature of the games.

The number of listeners in Niagara County, and Lockport specifically, that gravitated to 1340 after WBEN made programming modifications is insignificant. The over-under is 30 ... maybe. Seriously.

After the morning show which features eight to ten local newscasts delivered by Lockport legacy Hank Nevins, WLVL is a vapor. The Lockport stalwarts listen to the morning show, but even fewer listen the remainder of the day which is given to third rate syndicated conservative talk shows that pale in comparison to what's offered on WBEN, and the rational talk programming of WBFO.

Think about it ... listeners have the option of listening to WBEN, WGR, WHTT, 97 Rock, WYRK, Kiss, Star 96, WBLK, The Edge, WBFO, WNED-FM, WECK-AM (or it's three translators) ... heck, even The Wolf ... as well as Toronto's 50 kW AM 740 Zoomer Radio, countless Toronto FM stations that get into Niagara County "like a local" ... and they choose 1340? Or 1440? C'mon, man.

Only the Lockport stalwarts ... highly upper demo at that ... make the choice, and in all likelihood, their listening is strictly limited. They get the local Lockport news (house fire on Walnut Street, or drug bust on Locust Street, or two car collision at Transit and Robinson) delivered by a well known Lockport native, and move on to the Buffalo or Toronto stations ... or WHAM Rochester ... as they drive to work and go about their daily routine.

Detaching the 105.3 translator from WLVL and latching it to WEBR was one of those "too smart by a half" maneuvers because it immediately devalued and reduced the number of programming options that could have been made to improve WLVL's appeal and revenue. The translator is located in Lockport, yet it re-broadcasts a Niagara Falls station? Consider the fact that 105.3 barely gets into the Falls, but it covered Lockport like white on rice. Consider the fact that there's long been a weird provincial disconnect between Lockport and Niagara Falls. Why change the translator affiliation?

The present WLVL-WEBR programming platform is ... to be diplomatic ... "severely lacking." No malice intended in that assessment. Those stations will never be "Buffalo stations," and they shouldn't attempt to be. But this doesn't mean they should throw in the towel and sound like audio driftwood washed up on the beach. Also, it doesn't mean that, with proper, consistent, relevant programming, they can't potentially pick up a few sets of ears in the expanding suburbs like East Amherst, Niagara Wheatfield and the established 'burbs of the Tonawandas. Still, these are not Buffalo stations, and "picking up a few sets of ears" takes a backseat to properly providing viable programming to their local communities.

There are programming options and business tactics that would better latch these stations to their communities. WBTA Batavia, WCJW Warsaw (with its 27 translators ... only a slight exaggeration) and WDOE Dunkirk are stellar examples that should be studied. Oh, and WECK, too. And no, I'm not "that guy." Ahem.

 

[SirRoxalot]

The only reason I can think of for using the Lockport translator for WEBR is to potentially create coverage of all of Niagara County by one station, WEBR. Since Lockport is the county seat in Niagara County there is a case for unifying the entire county on one media outlet. Drop the WEBR call letters since they're irrelevant anyway and create a new entity that serves all of Niagara County. The call letters WVNC (Voice of Niagara County) are available. Target the programming toward Niagara County and use both AMs to generate content specific to their service areas. Do local Niagara Falls and perhaps NT sports on 1440 and do Lockport local sports on WLVL. Add some tourist info on 1440 that might get you some Niagara Falls sponsors. Ethnic programming that works on 1440 is available to the entire county. WLVL can offer alternative programming that's more centered on their population.

You can simulcast Niagara County centric news on both along with talk that focuses on common problems faced by the county government. Since 1440 covers a greater population, use the translator to program common interest content, both talk and music if you wish, that serves the entire county. Drop the syndicated talk on WLVL simply because it's ineffective and duplicated by other stations that bang into the market. Add more local content targeted toward the different demographics in Eastern Niagara County on WLVL. Back up both AMs with streaming so there's another option for targeted local content. In effect, create a duopoly that serves the audiences that the signals were designed to serve.

 

[radiofan2023]

They probably couldn't just drop the syndicated content until the end of the contracts with the shows

 

[Rusty Bridges]

They probably couldn't just drop the syndicated content until the end of the contracts with the shows

The shows can be canceled, only the network commercial inventory has to be cleared, usually in the same daypart. It's been the case that stations can cancel without penalty with 30 days notice. Sometimes sooner. Depends on the contract, the network and the network rep, the station's relationship with the rep ... and the market. Canceling a network show that runs on WLVL Lockport (a Buffalo rimshot) would be less onerous than canceling a network show that runs on an AM talker in a major market.

 

[Mark1981]

The only reason I can think of for using the Lockport translator for WEBR is to potentially create coverage of all of Niagara County by one station, WEBR. Since Lockport is the county seat in Niagara County there is a case for unifying the entire county on one media outlet. Drop the WEBR call letters since they're irrelevant anyway and create a new entity that serves all of Niagara County. The call letters WVNC (Voice of Niagara County) are available. Target the programming toward Niagara County and use both AMs to generate content specific to their service areas. Do local Niagara Falls and perhaps NT sports on 1440 and do Lockport local sports on WLVL. Add some tourist info on 1440 that might get you some Niagara Falls sponsors. Ethnic programming that works on 1440 is available to the entire county. WLVL can offer alternative programming that's more centered on their population.

You can simulcast Niagara County centric news on both along with talk that focuses on common problems faced by the county government. Since 1440 covers a greater population, use the translator to program common interest content, both talk and music if you wish, that serves the entire county. Drop the syndicated talk on WLVL simply because it's ineffective and duplicated by other stations that bang into the market. Add more local content targeted toward the different demographics in Eastern Niagara County on WLVL. Back up both AMs with streaming so there's another option for targeted local content. In effect, create a duopoly that serves the audiences that the signals were designed to serve.

I like your theory here, Rox. But in reality, I doubt it’s possible these two stations, WEBR and WLVL — super-serving Niagara County — would attract more ears than the stations currently have. Perhaps a hyper-local morning show airing on both stations would work. But what do you do after 9am? I can make the argument that Tom Darro super serves Niagara County. He brings in guests to discuss Niagara County issues. He‘s able to sell the show to Niagara County sponsors. But, really, how many people are listening? We often joke on this board about the same five or six of the same listeners call in.

You make a good point that the syndicated talk on WLVL is ineffective. But what do you put in its place? I doubt there’s a music format that would work. WLVL has tried that in the past. I’m not sure mixing in DJ patter about Niagara County events means anything to today’s listeners. Niagara County listeners are just like those of us living in Erie County. Adult men living there are getting their fill of Bills and Sabres talk on WGR or are rockin’ out to 97 Rock. Moms are listening to Kiss 98.5 or Star 96.1. The more educated and affluent are tuning in NPR on WBFO.

The bottom line is that these two AM stations licensed to a county that is a primary part of a bigger city market like Buffalo have no future. Bill Yuhnke has owned WEBR for more than three years now. He’s invested heavily in equipment and personnel. He’s tried different formats. And his ratings have gone nowhere from when the station was WJJL. I’ve come to the conclusion that there’s nothing he can do to change that. He should just focus on revenue generation. As much as we hate it, keep selling one-hour blocks to willing people who do shows. Have a presence at Niagara County events. Create an illusion, if you will. As Rusty mentioned in another thread, high school sports airing at night will attract sponsors willing to support such a noble effort, creating revenue at a time when syndicated talk gives you nothing.

To bring this back to the original topic of this thread, WECK, Buddy Shula struck gold. He had the resources and wherewithal to create a station that successfully competes in the Buffalo market. But I doubt that can be replicated. On a lesser scale, the Shrivers show how a small AM station in suburban Buffalo can succeed with a small, but loyal audience. But those listeners are aging out. I would think the Shrivers earn more from their concert appearances and the tours they sponsor. Again, I doubt WEBR and WLVL can replicate even that in a 2023 radio environment where AM stations are struggling to remain relevant.

 

[KurtLockport]

They probably couldn't just drop the syndicated content until the end of the contracts with the shows

Well let's not forget that WLVL picked up these shows the same day WBEN dropped them. WBEN dropped Rush which became Clay Travis and Buck Sexton, and WLVL picked it up. I believe that was the same time they dropped Hannity.

 

[KurtLockport]

The number of listeners in Niagara County, and Lockport specifically, that gravitated to 1340 after WBEN made programming modifications is insignificant. The over-under is 30 ... maybe. Seriously.

After the morning show which features eight to ten local newscasts delivered by Lockport legacy Hank Nevins, WLVL is a vapor. The Lockport stalwarts listen to the morning show, but even fewer listen the remainder of the day which is given to third rate syndicated conservative talk shows that pale in comparison to what's offered on WBEN, and the rational talk programming of WBFO.

No doubt about it that most people shut it off after 9am, 10 at the latest. I would have thought, and obviously I have no concrete evidence, that the exact shows WBEN dropped would force some of their listeners to the same program on another station whether WLVL or WHAM because they're both the same from 12-5. Certainly not all of them would flock to WLVL, and only those in or near eastern Niagara County.

 

[SirRoxalot]

The culture is different in Niagara County, and there are significant differences between Eastern and Western sections. Morning news and local talk could be shared by both 1440 and WLVL as long as it's targeted toward county-wide topics. The split comes in mid-days, with each station programming what works in its domain and serves both listeners and advertisers. 1440 may want to devote some time to supporting the local tourism industry and Niagara Falls politics and provide easy-listening music and travel info for out-of-towners. As stated above, major league sports are already covered by Buffalo stations. Niagara University and Niagara Falls sports teams may be a source of some content later in the afternoon. There's also a robust music scene in Niagara County that's different from the Buffalo market. Artpark, Lewiston, and Youngstown offer a different culture that's generally ignored by the Buffalo market. Niagara County also has its own microclimate that gets scant coverage by Buffalo stations, so localized weather forecasts would be a boon to listeners, especially when they're either in or out of hazardous weather warnings and advisories that don't affect Buffalo. Both 1440 and WLVL would need to find their niche.

Much of Western Niagara County is more rural in nature. Yes, the "city folk" may well listen to Buffalo stations. That doesn't mean that local interest programming might not gain some traction during the rest of the day. Once again, local sports, local interest programming, and music that's not otherwise available might appeal to listeners north of the escarpment. The idea is to offer programming that's not coming from Buffalo stations. It's not a lot different than what WDOE in Dunkirk or WBTA in Batavia does, or even what Buddy has done with WECK. Offer programming that targets an underserved audience that's big enough to attract local advertisers that can't or don't want to afford Buffalo ad rates.