WENI/WENY-AM/FM, 2 Others Sold

[DToTheJ]

The cluster, which also includes WCBA-AM and WGMM-FM, have been sold to Sound Communications by WS2K Radio Group, which had purchased the stations from Route 81 Broadcasting less than two years ago.

Full story:
http://www.stargazette.com/article/...3/WS2K-Radio-Group-to-sell-six-radio-stations

 

[JakeLongwell]

Judging from the statement made by the VP of Sound Communications, I think it's safe to say it will be "business as usual" once they take over, with few, if any, changes.

 

[Mark Giardina]

How many owners does this now make?

I started my broadcasting career at WCBA in Corning back in 1973. The station then was owned by a funeral home operator.

Recently I visited some relatives in Corning and stopped by to see the radio stations' at their location on Market Street. Great looking operation, but I noticed only two people in the entire building.

It's nice to have studios facing Market Street along with great equipment; but what about having a live local staff?

I've often pondered what would have happened to me had I decided to stay in Corning radio. Most likely, as with many others, I would have ended up on the unemployment line. It's a shame because despite being a "small market", Corning/Elmira was a nice place to work.

 

[The Voice of Reason]

Anyone have more information about Sound Communications? I Googled the name and came up with a media buying company. I'm not sure if this is the same group that purchased the radio stations in the Corning/Elmira market.

To: Mark G. I've listened to you on Rochester radio for many years. Personally I think you made the right decision to leave Corning when you did and go work in a larger market. I'm sorry that you are no longer on the radio. Your presence is sorely missed.

 

[JakeLongwell]

From what I understand, Sound Communicaitons is a sister company to Visions Communications. Visions owns television stations WYDC and WJKP in Corning, and WBGT in Rochester. The reason I say I don't think much will change is because the TV stations are run pretty much on the cheap. No local news product or local programming that I know of. Mostly syndicated offerings when they are not running Fox or My Network programming.

 

[JustPastBuffalo]

From what I've seen visiting the market and heard on the air, these facilities have good coverage in E-C. Given there's only one Class B in the market, that being Wink 106, these facilities are quite competitive. Has a purchase priced been disclosed?

 

[ThePickleReport]

$1.425 million. Just published this AM in the Radio-Info e-mail.

 

[JakeLongwell]

Wow. This really is a buyer's market in terms of station proces. If I remember correctly, Bob Eolin sold the stations to Route 81 for 4.6 million.

 

[JustPastBuffalo]

Wow. This really is a buyer's market in terms of station proces. If I remember correctly, Bob Eolin sold the stations to Route 81 for 4.6 million.

Comparitively speaking, very much so, Jake. A very astute owner and broadcaster, Bob Savage reports the cluster was generating a cash flow of $400k per year, which he considers a very good number in this economy. Savage, owner of WYSL AM-FM Avon-Rochester, says it was a cash deal. He gives the AM stations' news-talk morning show high marks. Quite a compliment.

A speculative 35% margin applied to the cash flow yields $140,000 annually (EBTIDA), which is not a bad take for a market the size of E-C.

 

[The Voice of Reason]

$1.425 million. Just published this AM in the Radio-Info e-mail.

Interesting that the former owner paid over four million for the stations and now they sold for just over a million.
And if Bob Savage is correct, and the stations bill $400 k a year, it won't take long for the new owner to recoup his money.

The only problem I for see is how long with this new owner keep the stations before selling them off to someone else?