What Would Cumulus' Proposed Takeover of Citadel Bring to Market 44?

[secondchoice]

Is there a possibility of Gaylord picking up the “extra” FM properties (on the cheap)? I do not know much about Gaylord’s cash position, and if they even want to be in broadcasting, but I am sure the sales people at WSM could “sell” another station in combo with WSM AM. Or are they going to keep WSM 650 as a 50KW advertisement vehicle for their resort properties? Clusters of radio properties seem to the way to go now.

BTW: I heard a rumor that Gaylord owns KOA (the campgrounds people). Is this true?

 

[jetfli]

If this deal happens, don't kid yourself, nothing good can come out of it. This is about greed. He who has the most stations. In the end, the talent suffers because Cumulus operates on the cheap and won't keep many around. Those who stay, will be doing the job of five people.

Another nail in the coffin for radio.

Definitely a HUGE leap in killing radio as we know -- in the poor shell that is still left of what we once knew -- but what corporation cares about that?

 

[LouPickney]

Salem making an acquisition is a legitimate thought, but the market is so over-saturated with their type of programming.

Salem could find success by buying 92.1 and 106.7. Simulcasing Solid Gospel 104.9 WBOZ on 106.7 WNFN would make sense, as their city-grade signals would fit side-by-side almost perfectly with almost no overlap, with one signal beginning and another ending in the Smyrna area. That would put a bit of a pinch into the numbers that 102.1 the Light has been able to draw.

As for the 92.1 signal, that could be a home for Salem's Money Talk format, which it has been rolling out recently, including on FM signals.

No need to move The Fish. Salem has already invested quite a bit in promoting 93.7/94.1 in multiple billboard campaigns, including one that is still running. Look at this possible lineup:

Salem
-----
104.9 WBOZ & 106.7 WNFN - Solid Gospel
93.7 WFFI & 94.1 WFFH - The Fish
92.1 WQQK - Money Talk

 

[jetfli]

Some things to keep in mind if this fiasco, er, merger goes down...

1. Anyone know if Gaylord might have had first rights of refusal in its sales contract that could allow it to repurchase 95.5 and 99.7 if the local Cumucluster decides to sell any stations? Or at least those particular stations?

2. Legally, any prospective buyer can't be turned away. But Cumulus does have the right to approach a buyer on its own. They could avoid a lot of potential suitors that would be competitors by approaching buyers that wouldn't be early on.

3. In the sale of any stations, Cumulus can have, as a condition of the sale, an agreement that the purchasing company not program a competing format for "x" years.

4. Cumulus can put two stations in a trust and leave them in limbo for a lengthy time.

5. Cumulus is known for setting up new companies to be operated separately by family members, as they did to buy the Susquehanna properties... and they are now trying to assimilate them into the main company.

 

[Tibbs4]

Sadly, Jet --- last option is the "smartest" move. They could easily steal another moniker and call the company:

a.) BADTEC - Banker's are dumber than even Crapulus.
b.) The Aloha No Trust at All (ANTA)
c.) The Aloha Trust It will be Bad (ATIB)
d.) The Wolf - at least it's a new, fresh and innovative name
e.) CWPLB - Can We Pay (the) Light Bill-ions?

 

[K4WRF]

Some things to keep in mind if this fiasco, er, merger goes down...

1. Anyone know if Gaylord might have had first rights of refusal in its sales contract that could allow it to repurchase 95.5 and 99.7 if the local Cumucluster decides to sell any stations? Or at least those particular stations?

2. Legally, any prospective buyer can't be turned away. But Cumulus does have the right to approach a buyer on its own. They could avoid a lot of potential suitors that would be competitors by approaching buyers that wouldn't be early on.

3. In the sale of any stations, Cumulus can have, as a condition of the sale, an agreement that the purchasing company not program a competing format for "x" years.

4. Cumulus can put two stations in a trust and leave them in limbo for a lengthy time.

5. Cumulus is known for setting up new companies to be operated separately by family members, as they did to buy the Susquehanna properties... and they are now trying to assimilate them into the main company.

1. NO.
2. First part of that is functionally incorrect.
3. Where this is done, it is questionable practice, could be construed as control by persons or entities other that licensee. Doubtful anyone will challenge it in court though.
4. Happens all the time.
5. Most likely will be the situation if I were betting man...

 

[jetfli]

1. NO.
2. First part of that is functionally incorrect.
3. Where this is done, it is questionable practice, could be construed as control by persons or entities other that licensee. Doubtful anyone will challenge it in court though.
4. Happens all the time.
5. Most likely will be the situation if I were betting man...

1. Thanks for clearing that up.
2. In the first part, what I've got in mind is, they can't discriminate, neither can they refuse to consider a top bidder without threat of lawsuit.
3. Still happens quite a bit, though.... usually about a five-year non-compete.

 

[Tibbs4]

My guess is that it's a fiduciary requirement that the stations be put out to all bidder's/buyers as it's a Crumulus station. But, remember who "sold" both frequencies to Crum. Maybe there's a lease agreement in the ointment that will save the day for our friends in ATL. That's my guess.

I am with Watt and Jet (I think said it as well) --- I pick the con(solidation) artist behind door #5.

 

[Journeyman]

Is there a possibility of Gaylord picking up the “extra” FM properties (on the cheap)? I do not know much about Gaylord’s cash position, and if they even want to be in broadcasting, but I am sure the sales people at WSM could “sell” another station in combo with WSM AM. Or are they going to keep WSM 650 as a 50KW advertisement vehicle for their resort properties? Clusters of radio properties seem to the way to go now.

BTW: I heard a rumor that Gaylord owns KOA (the campgrounds people). Is this true?

Gaylord really doesn't want the station it has. It's only keeping it because he CEO lacks the stones to sell t.

 

[spew]

more corporate boredom, in the box dj's and non local morning shows

 

[Journeyman]

more corporate boredom, in the box dj's and non local morning shows

I just hate it when I agree with Spew

 

[TheBigA]

It's only keeping it because he CEO lacks the stones to sell t.

Or lacks a buyer willing to pay for it. The future of WSM is to become a ward of a non-profit, like the Hall of Fame, just like Hatch Print.

I foresee a day when the Opry, WSM, and the Ryman are all owned by the same non-profit foundation. Too bad there's no funding for such a thing any more.

 

[Disco Jonn]

Cumulus, on the other hand, really did many of these things, like the corporate playlists and corporate format dictates. However, I can't say Cumulus was all bad. During the time I worked for them, they didn't practice blanket firings. If your station changed formats and you were a good employee, chances are they'd find another place in the company for you. They also had a lucrative 401K, a good ESPP, and good, and cheap, health insurance. So, if you could put up with an extremely bottom line focused company that was pretty dictatorial about what went out over its airwaves, they took pretty good care of you. However, all that seems to have changed, starting right before Halloween a little more than two years ago.

Not sure what years you worked for Cumulus Kent but....

Yes - they did Blanket Firings
Yes - they did let go of GOOD Employee's regardless of format change. Lost a bunch of friends from Dickey Greed!!!
401K plan lucrative??? Whatever you put in... they DON'T MATCH!!! NONE!!!
Health Insurance... your better off buying your own policy that joining Cumulus Health Care, it's actually cheaper.

The above is for Cumulus and not Cumulus Media Partner's. I'm sure the CMP Stations will get an eye opening when they are joined into Cumulus.

Quick question.... Will Cumulus & Lew Dickey finally give out raises now and people who took a paycut, get their earnings back since Cumulus must now have money to throw at buying Citadel???

 

[jetfli]

Quick question.... Will Cumulus & Lew Dickey finally give out raises now and people who took a paycut, get their earnings back since Cumulus must now have money to throw at buying Citadel???

Haaa Ha, ha, ha... ROFL... oh, my sides hurt... whoo...

 

[Kent]

I worked for Cumulus in 2004. They promised us no blanket firings when they made a format change. They kept their word.

Health insurance was $30/month and a better plan than our previous employer offered at $90/month. It was a PPO from Great West Healthcare that gave us far more choice than the HMO the previous company offered. I know the employee cost doubled the year after I left, but it was still better than what we had before. It's entirely possible that's gotten worse. Part of the point I've been trying to make is that businesses change, and often not for the better.

 

[Disco Jonn]

Quick question.... Will Cumulus & Lew Dickey finally give out raises now and people who took a paycut, get their earnings back since Cumulus must now have money to throw at buying Citadel???

Haaa Ha, ha, ha... ROFL... oh, my sides hurt... whoo...

I hoped someone would get my sarcasm.

Part of the point I've been trying to make is that businesses change, and often not for the better. Anything that Cumulus is involved in... is definitely NOT for the better

 

[Tennessee Cowboy]

Quick question.... Will Cumulus & Lew Dickey finally give out raises now and people who took a paycut, get their earnings back since Cumulus must now have money to throw at buying Citadel???

Haaa Ha, ha, ha... ROFL... oh, my sides hurt... whoo...

You'd be happy in Nashvile, jetfli.

 

[jetfli]

You'd be happy in Nashvile, jetfli.

...and I have been, for a long time now...

 

[Tibbs4]

Is it PBR time???

 

[Kent T]

But at CitaLus even PBR is above the budget allowed, so they drink something like Milwaukee's Beast. And soon they'll be installing ZaraRadio or Digital Junkbox to cut costs for their Glitch-A-Mation and use SoundCrapper audio cards in it.