WOR sale to Clear Channel

[DougD]

I confess I'm a little out of the loop, as I live in Maine and I was also away most of last week.
Is Buckley Radio in the process of dissolving itself altogether, or is it only WOR that is being sold? I checked Buckley's website but found nothing about it.

 

[therealjm12]

Buckley had previously sold off WSEN/WFBL as well as WOR. Nothing has been announced about their other properties.

 

[Theater of My Mind]

Buckley owns 15 other stations in the Hartford and New Haven markets of Connecticut, where the family is based, as well as in the Bakersfield, Monterey-Salinas-Santa Cruz and Merced markets in California. WOR represented as much as 65% of the company’s revenue and [Buckley CEO Joe] Bilotta says a few non-revenue generating stations may also be sold. But he adds the sale doesn’t mean the Buckley family is exiting the business. “The company has no desire at this time to sell the other assets,” Bilotta says.

I find it hard to believe Buckley is truly motivated to stay in the business after amputating that much of their revenue. FWIW WOR Network was also included in the sale.

 

[luperm]

It was pretty simple. Clear Channel was a motivated buyer.
I don't think you'll find too many AM stations selling for $30 million going forward.

 

[DToTheJ]

Except, maybe, 1010 WINS should CBS covet an FM stick... :

 

[OC3]

Enough already with moving AMs to FM as it has been SO successful!

 

[davideduardo]

Enough already with moving AMs to FM as it has been SO successful!

It certainly has... DC, Phoenix, SLC, Atlanta, Jacksonville, Seattle, Detroit, Indianapolis, San Francisco, New Orleans, etc., etc., etc.

All win-win situations.

Of course, putting a bad AM on FM just makes for another bad station... such as the WMAL experience in DC.