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Wilkey Acquires Stations

T

thebroker

Just wanted you guys to hear it from me before you read it in the Trade Pubs over the next few days.

-JW


______________________________________________


Joshua Wilkey, President of WilkeySouth Media Brokers, made a return to station ownership last week, announcing his acquisition of three radio stations. Wilkey’s new company, Cumberland OmniMedia, LLC, has agreed to acquire three stations located in southeastern Kentucky. The stations, WXJB(FM), WFXY(AM) and WANO(AM), are licensed to Harrogate TN, Middlesboro KY and Pineville KY respectively, and currently broadcast from studios in downtown Middlesboro.

Wilkey is acquiring the stations from the Estate of Warren A. Pursifull for $900,000. Wilkey has reached an agreement to immediately divest WXJB(FM) to Ron Merideth’s M&M Broadcasting. WXJB(FM) was recently granted rulemaking to allow it to change it’s city of license to Halls, TN, just north of Knoxville. Merideth will operate WXJB as a local station in his hometown of Clinton, TN, where he currently owns and operates WYSH(AM).

Mr. Wilkey will relocate to Middlesboro, where he will oversee operations at the stations. Additionally, he will continue to serve as President of WilkeySouth Media Brokers, a firm based in Asheville, North Carolina with additional offices in five southeastern cities.

After closing of the sale, Cumberland OmniMedia plans a major capital improvement effort for WFXY and WANO. The company has retained Joshua Pierce of the Charlotte-based broadcast engineering firm MediaTech USA to facilitate the improvements. The stations will employ new transmitters from Broadcast Electronics, and new processors will be supplied by Omnia.

Jeremy “Beau” Farmer, current General Manager of the stations, will add VP stripes and continue to oversee day-to-day operations. Dave Solomon of Charleston-based Digital Audio Tracks has been retained to provide imaging services for WFXY and WANO. Currently, WFXY programs a Hot AC format, while WANO programs Oldies. Formats are expected to be retained, with the addition of stronger local programming. Larry Poster, current News Director, will retain his position, as will Sam Turner, current Sports Director. Dave Manis will continue to serve as Production Director.

Wilkey left media ownership four years ago in order to devote more time to the brokerage business. After a successful launch of WilkeySouth, he began to look for an opportunity to return to small-market ownership. The acquisition of the Pursifull stations marks the beginning of what is expected to be a string of small-market acquisitions over the next few years.

WilkeySouth Media Brokers served as the exclusive Broker in the transaction between Cumberland OmniMedia and the Pursifull family, as well as in the spinoff of WXJB to M & M Broadcasting.
 
Okay Kentucky, look out.
Wilkey South's head honcho is in town now and he does
it right (to the nth degree). The main man not only
has his ducks in a row but he can make sure they swim right.
Give him a few weeks and he'll have his stations at 100
percent. I know you won't be let down.
Can I have my check now?
The Spindoctor

Just wanted you guys to hear it from me before you read it
> in the Trade Pubs over the next few days.
>
> -JW
>
>
> ______________________________________________
>
>
> Joshua Wilkey, President of WilkeySouth Media Brokers, made
> a return to station ownership last week, announcing his
> acquisition of three radio stations. Wilkey’s new company,
> Cumberland OmniMedia, LLC, has agreed to acquire three
> stations located in southeastern Kentucky. The stations,
> WXJB(FM), WFXY(AM) and WANO(AM), are licensed to Harrogate
> TN, Middlesboro KY and Pineville KY respectively, and
> currently broadcast from studios in downtown Middlesboro.
>
> Wilkey is acquiring the stations from the Estate of Warren
> A. Pursifull for $900,000. Wilkey has reached an agreement
> to immediately divest WXJB(FM) to Ron Merideth’s M&M
> Broadcasting. WXJB(FM) was recently granted rulemaking to
> allow it to change it’s city of license to Halls, TN, just
> north of Knoxville. Merideth will operate WXJB as a local
> station in his hometown of Clinton, TN, where he currently
> owns and operates WYSH(AM).
>
> Mr. Wilkey will relocate to Middlesboro, where he will
> oversee operations at the stations. Additionally, he will
> continue to serve as President of WilkeySouth Media Brokers,
> a firm based in Asheville, North Carolina with additional
> offices in five southeastern cities.
>
> After closing of the sale, Cumberland OmniMedia plans a
> major capital improvement effort for WFXY and WANO. The
> company has retained Joshua Pierce of the Charlotte-based
> broadcast engineering firm MediaTech USA to facilitate the
> improvements. The stations will employ new transmitters from
> Broadcast Electronics, and new processors will be supplied
> by Omnia.
>
> Jeremy “Beau” Farmer, current General Manager of the
> stations, will add VP stripes and continue to oversee
> day-to-day operations. Dave Solomon of Charleston-based
> Digital Audio Tracks has been retained to provide imaging
> services for WFXY and WANO. Currently, WFXY programs a Hot
> AC format, while WANO programs Oldies. Formats are expected
> to be retained, with the addition of stronger local
> programming. Larry Poster, current News Director, will
> retain his position, as will Sam Turner, current Sports
> Director. Dave Manis will continue to serve as Production
> Director.
>
> Wilkey left media ownership four years ago in order to
> devote more time to the brokerage business. After a
> successful launch of WilkeySouth, he began to look for an
> opportunity to return to small-market ownership. The
> acquisition of the Pursifull stations marks the beginning of
> what is expected to be a string of small-market acquisitions
> over the next few years.
>
> WilkeySouth Media Brokers served as the exclusive Broker in
> the transaction between Cumberland OmniMedia and the
> Pursifull family, as well as in the spinoff of WXJB to M & M
> Broadcasting.
>
 
> Can I have my check now?
> The Spindoctor



NO, but you can have a job. When am I gonna finally be able to hire you away?? Even your boss told me I could! I have a nice PD job just waiting for you, on a station with your favorite format.

On another note, I'm very glad to be here in Kentucky. I've found a home here, and I'm spending at least a few days every week in Middlesboro. I'm even working on a couple of other acquisitions in the area.

I love Radio-Info, and I hope to become an active part of the Kentucky board now that I'm here. Anybody else out there from Southeastern Kentucky? I'd love to meet a few of my new neighbors.

Also, If anybody knows where I can find a good engineer in the area, I'd certainly appreciate a heads-up.
 
> > Can I have my check now?
> > The Spindoctor
>
>
>
> NO, but you can have a job. When am I gonna finally be able
> to hire you away?? Even your boss told me I could! I have a
> nice PD job just waiting for you, on a station with your
> favorite format.
>
> On another note, I'm very glad to be here in Kentucky. I've
> found a home here, and I'm spending at least a few days
> every week in Middlesboro. I'm even working on a couple of
> other acquisitions in the area.
>
> I love Radio-Info, and I hope to become an active part of
> the Kentucky board now that I'm here. Anybody else out there
> from Southeastern Kentucky? I'd love to meet a few of my new
> neighbors.
>
> Also, If anybody knows where I can find a good engineer in
> the area, I'd certainly appreciate a heads-up.
>
Broker,
What do you mean my boss said I could be hired by you?
I think he just wants to flip my station to Classical
Bulgarian Polka!
Can I put a hot tub in the studio?
The Spindoctor
 
> Broker,
> What do you mean my boss said I could be hired by you?
> I think he just wants to flip my station to Classical
> Bulgarian Polka!
> Can I put a hot tub in the studio?
> The Spindoctor



Well, your boss is a close friend of mine, so it wouldn't be right of me to just go after his help. So, I asked him if I could. He said sure. The choice is yours, Spindoctor. Come to work for me, as PD at a station which has your favorite format, or stay there and learn to speak Swahili.

Oh, and we have a hot-tub already.
 
> Okay Kentucky, look out.
> Wilkey South's head honcho is in town now and he does
> it right (to the nth degree). The main man not only
> has his ducks in a row but he can make sure they swim right.
>
> Give him a few weeks and he'll have his stations at 100
> percent. I know you won't be let down.
> Can I have my check now?
> The Spindoctor
>
> Just wanted you guys to hear it from me before you read it
> > in the Trade Pubs over the next few days.
> >
> > -JW
> >
> >
> > ______________________________________________
> >

Spindoctor:

Are you feeling alright? That's the first serious post
I have ever read from you. At first, I thought there
must be something really wrong with Mr. Wilkey. Sounds
like a man who knows what he's doing. Having once owned
small market stations (mainly in FL Panhandle)I wish
Mr. Wilkey the best.
 
Tibbs,
I'm feeling fine when it comes to what Mr. Wilkey can
accomplish. He has been doubted by many on so many fronts
even when he has proven himself to be a serious contender
in the market. He says it, he does it. I can't say that
for everyone. (I know first hand recently about people
not keeping their word).
Josh will take those stations to heights they've never seen
before and make them not only successful, but profitable.
I think within a few months you will see and hear that he
knows exactly what he's doing.
If I were a smarter man I'd take him up on the offers he's
made me, but Asheville is gone and Charlotte is calling
right now.
The Spindoctor
>
> Spindoctor:
>
> Are you feeling alright? That's the first serious post
> I have ever read from you. At first, I thought there
> must be something really wrong with Mr. Wilkey. Sounds
> like a man who knows what he's doing. Having once owned
> small market stations (mainly in FL Panhandle)I wish
> Mr. Wilkey the best.
>
 
Wow, in all seriousness, thank you for the kind comments. When the dust settles, all you really have in life are your friends and your integrity. Whether in radio or any other business, you have been successful when you can say you've done the right thing, even when it wasn't the easiest thing. And you'll have the friends to prove it. Oh, I have the most fun when folks doubt. Makes the crow even colder when it's served.

Spindoctor, my friend, I wish you the very best in Charlotte, and I'm sorry things could not have turned out differently for you in Asheville. Know that so long as I am still in the game (and I have no intention of leaving) you won't go unemployed.

And Tibbs, thanks for the good wishes. If you find yourself in Southestern Kentucky, I hope you'll stop by and visit. But give me a couple months to get things looking good and sounding great around here! :)




-JW
 
> Wow, in all seriousness, thank you for the kind comments.
> When the dust settles, all you really have in life are your
> friends and your integrity. Whether in radio or any other
> business, you have been successful when you can say you've
> done the right thing, even when it wasn't the easiest thing.
> And you'll have the friends to prove it. Oh, I have the most
> fun when folks doubt. Makes the crow even colder when it's
> served.
>
> Spindoctor, my friend, I wish you the very best in
> Charlotte, and I'm sorry things could not have turned out
> differently for you in Asheville. Know that so long as I am
> still in the game (and I have no intention of leaving) you
> won't go unemployed.
>
> And Tibbs, thanks for the good wishes. If you find yourself
> in Southestern Kentucky, I hope you'll stop by and visit.
> But give me a couple months to get things looking good and
> sounding great around here! :)
>
>
>
>
> -JW
>

Look forward to the chance to come up. Good luck to Spindoctor.
I hope he keeps active on the E. TN board. You both have made some
really valid and refreshingly true comments about how "business"
should be run. I agree and try to do the same. It's hard for
sure. Good luck...actually...I take that back. Go get them.
That's REAL "luck." Working hard and smart...I think in that
order.
 
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