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WWTR 1170 Bridgewater sold to EBC for $2.75-Million

T

TimeIsTight

The sale of WWTR 1170 in Bridgewater by Greater Media to EBC is not a surprise, but the $2.75-million price tag is.

This is a 600-watt daytimer that once went dark for financial reasons when it was programmed to serve the broader local population.

From the perspective of the South Asian target audience this station is unique in that it is probably the only local signal available, and it has likely proved its value in the five years or so it has been an LMA for this purpose. Still, the signal is not the best in the Oak Tree section of Edison where the Central Jersey South Asian community seems to have its commercial center, and the station must sign off at sundown.

The terms of the sale show how much financial clout there can be in providing ethnic programming, since more than $2-million of the purchase price will be paid up front in cash.

Like its old Central Jersey AM daytimer sisters WERA in Plainfield, and WCRV in Washington, for a long time it looked like the local 1170 frequency would be dark forever. Seems like it has taken on a whole new life.

Good luck and much financial success to the new owners.
 
I did not know WWTR had upgraded from 243 to 600 watts (non-directional). Still, that is a mind-blowing price for a daytimer, especially one with no usable pre-sunrise or post-sunset authorization, due to WWVA dominating the skywaves on 1170 kHz.

I believe nearby daytimer 1070 WKMB sold for only $400,000 back in 2002, but that facility was in far worse shape, and the whole station basically needed to be rebuilt.
 
This sale price is mind blowing because it really bucks the trend where radio station prices have been falling, AM's have fallen farther than FMs, and many low power AMs, especially daytimers, have been falling all the way to dark and worthless.

But, luckily for Greater Media, this is really the only local station available to serve the Indian community in Central Jersey, and there is enough economic activity within that growing and relatively prosperous market niche to support a radio station.

Comparing this to the $400,000 sale of WKMB a few years back, I don't think the state of the "facilities" had much to do with the price difference. The price was all about a minimum signal where the South Asians are living. If that group wasn't around, WWTR wouldn't be worth much more than WKMB., if that, since it is a few years later. The Indian people will listen to a local AM because it is the only station that serves their group even if the signal is not the best. This has been proved over the last five years while the LMA was in effect.

The price of anything is set by how much somebody is willing to pay for it, and in this case the buyer sees lots of money making potential in his purchase because he will have a radio monopoly in his niche.

I suspect he would rather have purchased WCTC, but Greater Media didn't want to let go. I wouldn't be surprised if the new owner doesn't try and move the WWTR transmitter closer to Edison, so the best signal will be in the area where the most South Asians live.

As for WKMB, the area where it has the best signal includes the Great Swamp, and towns with minimum 10-acre zoning. If there were a format that attracted the wealthy, who are home during the day, it might be more valuable. At one point, a few years before it was sold, there were rumors of an offer of $1.4-million for KMB, but they probably were just rumors. At least, both of these low power daytime only AM's that started in the early 1970s, just as FM was catching on, are still on the air.
 
The Indian Population is not limited to just Oak Tree Road and Edison. It is all over Jersey. Indian population in South Brunswick is now more than 35%. Plainsboro more than 40%. There is West Windsor, Princeton, Lawrenceville, Monroe to name a few. The single of 1170 reaches clearly in all these area. This is why this station is popular in India Community.
 
Why is the price so high? ...It involves the same folks who brought us :60 spots on their supposed 8 watt signal that has recently been displaced. It was an offer made that could never be delivered on, so the price went up for the current group. So the buyer here got screwed.
 
1590 WERA would've been the perfect 24-hour signal for EBC, if only they hadn't sold out and gone dark to allow for WWRL's power upgrade.
 
Timing in life is everything, Satech.

At the time 'RL took ERA dark, it was an offer the Plainfield station owners couldn't refuse.

You are not far off the mark with your observation. ERA's old fulltime signal on 1590 would have comfortably covered a number of affluent Asian Indian communities, their residents and merchants. If you wanted to pick one of the "sleeping giant" economic forces in NJ, they are near the very top of the list. If they had simulcast on 1310 up in Parsippany, you would have had an economic powerhouse unequalled by any other ethnic economic group These are serious, successful people willing to work hard so that they and their families can succeed. If you have an Asian Indian festival being held near you at any time, do yourself a favour and spend some time for an education and some tasty eats.
 
WNTIRadio said:
Why is the price so high? ...It involves the same folks who brought us :60 spots on their supposed 8 watt signal that has recently been displaced. It was an offer made that could never be delivered on, so the price went up for the current group. So the buyer here got screwed.
Click to expand...

Not the same people but also overpaid for a radio station.
 
Compare this with 96.7 K Love selling for only 5 times as much.

Was EBC programming Dhoom 89.3? Why didn't they just buy the new 89.3 for the same price?
 
No, EBC wasn't and isn't Dhoom. Dhoom are the idiots that jacked the price up on EBC by making an offer that could never be delivered upon.

Dhoomed is the best place for that former 89.3 crew. Congrats to EBC for running a legitimate business and getting their first property. I wish them nothing but success.
 
WNTIRadio said:
No, EBC wasn't and isn't Dhoom. Dhoom are the idiots that jacked the price up on EBC by making an offer that could never be delivered upon.

Dhoomed is the best place for that former 89.3 crew. Congrats to EBC for running a legitimate business and getting their first property. I wish them nothing but success.
Click to expand...

They aren't Dhoomed yet. They are busy going after "a displacement frequency". They filed for an STA to keep the station dark until the engineering company in Marlton can do the study and file an application. They filed for it on May 25th.
 
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