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Wilks exits Reno and Radio

tall_guy1

tall_guy1

https://radioink.com/2016/04/26/wilks-exits-the-reno-and-radio/
The sell-off of radio stations by Jeff Wilks is complete. Reno broadcaster Jerry Evans is purchasing two Wilks stations in Reno, KWFP-FM 92.1 and KURK-FM 100.9, for $750,000. Evans also owns KCMY-AM 1300 and an FM translator in Reno. In another deal, which has not been filed yet, Wilks will spin-off adult alternative KTHX-FM to Lotus Broadcasting. Lotus already has seven stations in Reno. Wilks began selling its stations in 2014. At one point the company owned 20 FM signals in five markets. Michael Bergner of Bergner & Co. was the exclusive broker in the Wilks/Evans deal.
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umfan said:
$750k for two stations in a middle market like Reno seems like a very good deal.
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One is a Class A and the other is a C3, and neither bills even $500 thousand a year. So this sounds like a near-stick-value deal. The valuable property was KTHX, with good billing and good ratings which went to Lotus. That one is a nice C1 facility and quite competitive.
 
Reno Tahoe is still a tough business environment to operate in. Two things are against it: 1. It's economically (not geographically) in the shadow of Las Vegas. 2. Reno is a city stuck in time. The 70's to be exact.
 
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