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WLOQ-FM Smooth 103.1 Sold?

DJ Mo

DJ Mo

Oh, no.
I just read the Radio-Info e-mail newsletter.
WLOQ-FM Smooth 103.1 is sold to a group that is known to do Spanish stations.
Is there room for another Spanish format here?

I think I'm going to enjoy what's left of WLOQ-FM Smooth 103.1 while it lasts.
Might be a format flip in August, the e-mail says.

Discuss.
 
True...last locally owned station is sold

FCC filing https://licensing.fcc.gov/cgi-bin/w...xt=25&appn=101435177&formid=314&fac_num=25403

To: TTB MEDIA CORPORATION, 375 PARK AVENUE, SUITE 2603, NEW YORK, NY 10152 FL PROPOSED ASSIGNee
ERAN SCHREIBER, 375 PARK AVENUE, SUITE 2603, NEW YORK, NY 10152 US PRESIDENT AND DIRECTOR

Price a little over $8 million...purchase agreement: https://licensing.fcc.gov/cdbs/CDBS...?appn=101435177&qnum=5040&copynum=1&exhcnum=1

August 1 is start date for Time Brokerage Agreement

https://licensing.fcc.gov/cdbs/CDBS...?appn=101435177&qnum=5040&copynum=1&exhcnum=2

Company's background seems to be Hispanic radio...
 
The end of smooth jazz on FM has been something that was coming to this market eventually. But now Orlando will have three FM Spanish signals potentially? Really? I've read Rumba is on top and yes the signal absolutely covers the market with signal. Bleeds into Lakeland and North Tampa. Does anyone else stand a chance? I see 98.1 really having problems if this third signal actually makes it?

Byron
 
Well that just sucks. Another nail in the coffin of Smooth Jazz......
 
I wonder what was the final deciding factor that influenced Gross Communications to sell WLOQ after 34-years of continuous ownership?
 
I wonder if Salem made any offers during the last couple of years. They've had great success with The Fish-Christian AC format and Z88.3 certainly is prime for some competition. Their repetition has got to be a factor with females 35+.
 
Sad news if they flip formats. I worked there in the late 80s/early 90s with greats like Bob Church, Don Kirby, Lee Hogan, Steve Huntington, Bob Kelley...it was a helluva station and Huntington honed the format perfectly back then. Herb and Margaret Gross were great people to work for.
 
This seems to me to be a steal. A Nashville non-comm (91.1 WRVU, now WCFL) with very similar facilities to WLOQ (both Class C2, 10kw) was sold to Nashville Public Broadcasting last month for $3.35 million. The big difference, of course, is that WLOQ is in the commercial band.

Nashville (market #44): 91.1 WCFL, Class C2, 10kw, HAAT 696' ($3,350,000)
Coverage map: http://is.gd/WRVUFM

Orlando (market #35): 103.1 WLOQ, Class C2, 10kw, HAAT 745' ($8,037,000)
Coverage map: http://is.gd/WLOQFM

And, while WLOQ is licensed to Windermere, the station has city-grade coverage over the entire Orlando metro and parts beyond, from Leesburg to Sanford to Kissimmee, as the map linked above shows.

If any of you reading this have tried to acquire a loan from a bank in the past couple of years, either for personal or business reasons, you probably know how difficult of a process it can be and how challenging it is in many cases to receive approval for a loan. For those with "dry powder" aka cash on hand, or those with the proper investors lined up, there are some deals to be had out there.
 
LouPickney said:
This seems to me to be a steal. A Nashville non-comm (91.1 WRVU, now WCFL) with very similar facilities to WLOQ (both Class C2, 10kw) was sold to Nashville Public Broadcasting last month for $3.35 million. The big difference, of course, is that WLOQ is in the commercial band.

Nashville (market #44): 91.1 WCFL, Class C2, 10kw, HAAT 696' ($3,350,000)
Coverage map: http://is.gd/WRVUFM

Orlando (market #35): 103.1 WLOQ, Class C2, 10kw, HAAT 745' ($8,037,000)
Coverage map: http://is.gd/WLOQFM

And, while WLOQ is licensed to Windermere, the station has city-grade coverage over the entire Orlando metro and parts beyond, from Leesburg to Sanford to Kissimmee, as the map linked above shows.

If any of you reading this have tried to acquire a loan from a bank in the past couple of years, either for personal or business reasons, you probably know how difficult of a process it can be and how challenging it is in many cases to receive approval for a loan. For those with "dry powder" aka cash on hand, or those with the proper investors lined up, there are some deals to be had out there.
Click to expand...

WLOQ is 22KW
 
ThatGuyOnTheRadio said:
WLOQ is 22KW
Click to expand...

You're right -- and that's what I get for trying to battle insomnia by writing about radio at 3 in the morning.

Luckily, that just makes the argument for WLOQ being a good purchase for $8,037,000 even stronger since it has more than twice the wattage that I originally indicated.

One other note: my sympathies go out to any WLOQ employees who will be losing their job as a result of the change in ownership.
 
TomBenson said:
I wonder if Salem made any offers during the last couple of years. They've had great success with The Fish-Christian AC format and Z88.3 certainly is prime for some competition. Their repetition has got to be a factor with females 35+.
Click to expand...

Salem would be silly to try and go against Z... Most of their Fish stations are automated most of the day or air the TCM format from Nashville... Z is very local and very well focused on the community.. would be hard to knock them down.
 
Big 810 salutes Smooth 103.1 WLOQ-FM:
http://cflradio.net/What's_News.htm

Good form.
Then, I went to their website that says there will be big "ch-ch-ch-ch-changes" coming Monday morning.
Would they pick up the Smooth Jazz?
I'm also hearing that they already have an Alternative Rock program.
(I still miss the True Oldies Channel here in Orlando.)
 
Re: More time for Tyll

The other day Ed Tyll said that he is getting his third hour back. That's probably the change. The question is when is his time slot going to be. Ultimately I'd love to hear Ed Tyll from 10AM-2PM followed by Shannon Burke 2PM-6PM giving them both a fourth hour, but I don't think that's going to happen.
 
WLOQ is saying "Thank you and Goodbye" on the website.

http://www.wloq.com/

Message from Jim Gross.

http://www.wloq.com/HistoryofWLOQ.aspx

jmtillery said:
I wonder what was the final deciding factor that influenced Gross Communications to sell WLOQ after 34-years of continuous ownership?
Click to expand...

A recent OBJ article (also mentioned in above post by Jim) says medical retirement taken by John Gross in January was the motivator behind sale.

Byron
 
They are telling listeners to log on to the website on Monday. Undoubtedly this is a transition to a streaming station. Sadly some excellent people are going to lose all or most of their job/income but streaming stations are more accessible than ever now and that will continue to happen.
 
I have heard a rumor that either John or Jim Gross is very ill. Maybe a reason for the sale? Anyone have any ifnormation?
 
jazzbo said:
I have heard a rumor that either John or Jim Gross is very ill. Maybe a reason for the sale? Anyone have any ifnormation?
Click to expand...
Here's a short quote from a link posted by Byron several posts up in this thread:

WLOQ sold because of CEO’s medical retirement
Orlando Business Journal
Date: Monday, July 18, 2011, 1:40pm EDT


Locally owned FM jazz station WLOQ was sold because CEO John Gross took a medical retirement in January, the station’s vice president ............................


That link is:

http://www.wloq.com/HistoryofWLOQ.aspx

drt,
btw- Thank you Bryon for sharing the links on your post.
 
Since the call letters, music library and internet domain name were not a part of the sale, I imagine WLOQ will continue as an internet only audio service while the 103.1 frequency will become home to another format. A Spanish language format has been speculated. Has any format been confirmed?
 
Jammin' to "Elvis 103.1" now. 8)
 
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