WMUU Sale

[artsutton]

Paperwork for the sale of WMUU went on line at the FCC yesterday.

$3 million for the station and tower site on Paris Mountain. $1 million down and a note for $2 million to be paid in full 2014. Option to buy studio site for $200,000. $3 million advertising credit given to BJU to use on Salem stations and/or websites.

First time I've seen the purchase of a top 75 market 100KW FM on half trade but there is a first for everything.

It's interesting to note that when the Alperts sold 98.1 to Radio One back in 2000, they got $7.5 million cash for a rim shot signal.

 

[carolinaradio]

I wonder when Salem will take over? Typically when sales are announced, the purchaser takes control of their pending acquisition quickly via LMA until the sale is approved. Seems to me they would have wanted to get on the air ASAP given that it's an election season, but since they'll probably be pulling their programming from 106.3 and 660, they might be having to give notice.

Even in 2005, Barnstable got a healthy sum for 93.3, 101.1, and 106.3. I don't remember the exact number, but it wasn't bad. They sold at a good time.

I wonder what will happen to BJU's staff at WMUU. I'd think the online station Salem will run will be automated, as stations that move from terrestrial to online typically are. I wonder how many of their 94.5 listeners will actually migrate to an online stream. Most of the (limited number of) people I know that listen to it are elderly and may not be big fans of listening online.

 

[Powell]

Since I am in the middle of nowhere in rural western Newberry county 24K dial up won't work for streaming. I guess I won't get to hear Beautiful Music much longer.

 

[carolinaradio]

Any word on when Salem will take control of 94.5?

I wonder what the plans are for 660. Salem will be taking a substantial amount of their programming away. I think their days are numbered, but they are under a lease with CC for the frequency so they will have to do something with it at least until that runs out. 106.3 will probably replace Gallagher with something like Glenn Beck.

It'd be nice if Salem would branch out and not focus on just their own material which I'm not a big fan of. Michael Savage, Clark Howard, Red Eye Radio, Mark Levin, Laura Ingraham, Andy Dean, and Neal Boortz (though he's retiring) come to mind. That's such a great signal, I wish they wouldn't just focus on the ultra-Conservative, Christian-based talkers that Salem syndicates.

 

[Scooter Lesley]

Just to add-in: The "Alperts" is a little off. Norm Alpert, the Dad, both owned, and called the shots.
Reportedly, his son, Dave Alpert, was only the local GM for THE PEAK; following orders. Also, Norm purchased the then WSMW-AM & WBFM-FM from Wayne Gallamore, in April of 1994, for $950,000.
They kept it(and ran it!) for around 6-years, and sold it for, as the last post reported...7.5 !!!!!
Sheeeeeeeeeeeeeeeesh talk about a profit margin!

 

[vchimpanzee]

Just to add-in: The "Alperts" is a little off. Norm Alpert, the Dad, both owned, and called the shots.
Reportedly, his son, Dave Alpert, was only the local GM for THE PEAK; following orders. Also, Norm purchased the then WSMW-AM & WBFM-FM from Wayne Gallamore, in April of 1994, for $950,000.
They kept it(and ran it!) for around 6-years, and sold it for, as the last post reported...7.5 !!!!!
Sheeeeeeeeeeeeeeeesh talk about a profit margin!

1994 is about the time WBFM changed from good music to oldies. Then it was Triple-A, then talk, then rhythmic.