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gr8oldies said:It's not Citadel's call; only the owner can release the calls. And he isn't.
As I said If Citadel spends $$$ (they have some cash now) and they can work a deal with 100.3 they could get WNOX. The ownership of 100.3 let it be LMAed for years, and was "out" cashing checks. I think if Citadel or somebody else ponyed up enough bucks they could buy or LMA 100.3. After all why have the hassel of dealing with employees when you just go to the mailbox and take the check to the bank.
B
boogiecheck
Guest
secondchoice said:gr8oldies said:It's not Citadel's call; only the owner can release the calls. And he isn't.
As I said If Citadel spends $$$ (they have some cash now) and they can work a deal with 100.3 they could get WNOX. The ownership of 100.3 let it be LMAed for years, and was "out" cashing checks. I think if Citadel or somebody else ponyed up enough bucks they could buy or LMA 100.3. After all why have the hassel of dealing with employees when you just go to the mailbox and take the check to the bank.
Seriously? I don't think at this late date either scenario is possible. The Pirkle/Brantley team is going live in less than 5 days. They've placed a huge billboard order, bought time on all the local affiliates, renovated a big, modern building and have hired some of the best sales and on-air talent in the area.
No, Citadel needs to save their money. They're going to need it for their next format's launch.
secondchoice said:As I said If Citadel spends $$$ (they have some cash now) and they can work a deal with 100.3 they could get WNOX. The ownership of 100.3 let it be LMAed for years, and was "out" cashing checks. I think if Citadel or somebody else ponyed up enough bucks they could buy or LMA 100.3. After all why have the hassel of dealing with employees when you just go to the mailbox and take the check to the bank.
Outside of Knoxville, there's a "chicken-and-egg" debate about whether Citadel willingly lost 100.3 because it wasn't paying off, or whether JP saw an opportunity during the court-mandated non-payment term of bankruptcy to regain control while generating tons of publicity. But make no mistake about it, Citadel's desire to pursue 100.3 is nil. If they were looking to regain a 100k signal in Knoxville again, they'd more likely pursue the radio business of South Central, which would not only give them two 100k signals in K-town, but also double their freqs in Nashville and give them a new market in Indiana. If you are still thinking Citadel is just waiting around to try to get their hands on 100.3 again, you are thinking far too small.
T
Tennessee Cowboy
Guest
jetfli said:secondchoice said:As I said If Citadel spends $$$ (they have some cash now) and they can work a deal with 100.3 they could get WNOX. The ownership of 100.3 let it be LMAed for years, and was "out" cashing checks. I think if Citadel or somebody else ponyed up enough bucks they could buy or LMA 100.3. After all why have the hassel of dealing with employees when you just go to the mailbox and take the check to the bank.
Outside of Knoxville, there's a "chicken-and-egg" debate about whether Citadel willingly lost 100.3 because it wasn't paying off, or whether JP saw an opportunity during the court-mandated non-payment term of bankruptcy to regain control while generating tons of publicity. But make no mistake about it, Citadel's desire to pursue 100.3 is nil. If they were looking to regain a 100k signal in Knoxville again, they'd more likely pursue the radio business of South Central, which would not only give them two 100k signals in K-town, but also double their freqs in Nashville and give them a new market in Indiana. If you are still thinking Citadel is just waiting around to try to get their hands on 100.3 again, you are thinking far too small.
Or the Knoxville properties will eventually attract bargain hunters. Anybody left at that station with enough influence to pull together some local investors? Or did that get pushed out the door in May?
105.7..??
Just got an e mail from displaced OLDIES person who said this station comes in better than 98..I think it is the HOG??? Second person to tell me about them..could be an alternative to those who have lost their love from Citadel?
Just got an e mail from displaced OLDIES person who said this station comes in better than 98..I think it is the HOG??? Second person to tell me about them..could be an alternative to those who have lost their love from Citadel?
jetfli said:secondchoice said:As I said If Citadel spends $$$ (they have some cash now) and they can work a deal with 100.3 they could get WNOX. The ownership of 100.3 let it be LMAed for years, and was "out" cashing checks. I think if Citadel or somebody else ponyed up enough bucks they could buy or LMA 100.3. After all why have the hassel of dealing with employees when you just go to the mailbox and take the check to the bank.
Outside of Knoxville, there's a "chicken-and-egg" debate about whether Citadel willingly lost 100.3 because it wasn't paying off, or whether JP saw an opportunity during the court-mandated non-payment term of bankruptcy to regain control while generating tons of publicity. But make no mistake about it, Citadel's desire to pursue 100.3 is nil. If they were looking to regain a 100k signal in Knoxville again, they'd more likely pursue the radio business of South Central, which would not only give them two 100k signals in K-town, but also double their freqs in Nashville and give them a new market in Indiana. If you are still thinking Citadel is just waiting around to try to get their hands on 100.3 again, you are thinking far too small.
Citadel buy South Central? That's laughable. They couldn't even pay the rent on 100.3 and now you're saying they might bite off a couple of hundred million dollar bite?
Limits on the number of stations one can own in a market make a Citadel purchase of South Central impossible. Knoxville's FM limit is 4 or 5. A merger of these 2 clusters would unite 9 or 10, if my count is correct.
gr8oldies said:All that debt is gone now, they've got cash and there is talk of Citadel buying again
Citadel still has debt and angry stockholders and board of directors. I would give the current management team 6 months the way they are going.
Big Bopper said:Limits on the number of stations one can own in a market make a Citadel purchase of South Central impossible. Knoxville's FM limit is 4 or 5. A merger of these 2 clusters would unite 9 or 10, if my count is correct.
To quote Muhammad Ali: "Impossible is not a fact. It's an opinion."
Of course it's not impossible! All they have to do is settle on the freqs they want to keep, then pop the rest into a trust with a plan to sell them off. Happens quite frequently with radio cluster sales and mergers.
Honestly, we're talking about one of the top three major players in the industry. Think big.
T
Tennessee Cowboy
Guest
jetfli said:Big Bopper said:Limits on the number of stations one can own in a market make a Citadel purchase of South Central impossible. Knoxville's FM limit is 4 or 5. A merger of these 2 clusters would unite 9 or 10, if my count is correct.
To quote Muhammad Ali: "Impossible is not a fact. It's an opinion."
Of course it's not impossible! All they have to do is settle on the freqs they want to keep, then pop the rest into a trust with a plan to sell them off. Happens quite frequently with radio cluster sales and mergers.
Honestly, we're talking about one of the top three major players in the industry. Think big.
That would be almost as big as the crater Citadel made here in May. And the one it made here in June. And definitely bigger than the crater it made a week ago Monday.
Maybe JPE would take new Citadel stock in exchange for the thriving company founded by his grandfather and made stronger by his father.
B
boogiecheck
Guest
Tennessee Cowboy said:That would be almost as big as the crater Citadel made here in May. And the one it made here in June. And definitely bigger than the crater it made a week ago Monday.
You are correct. And then they would "move" B97 to 106.7.
T
Tennessee Cowboy
Guest
boogiecheck said:Tennessee Cowboy said:That would be almost as big as the crater Citadel made here in May. And the one it made here in June. And definitely bigger than the crater it made a week ago Monday.
You are correct. And then they would "move" B97 to 106.7.
Who among us wouldn't trust Citadel when presented with such awesome opportunity?
Anything is Possible
BillBattle said:Citadel still has debt and angry stockholders and board of directors.
Actually, for the most part, it doesn't. The angry stockholders have lost almost everything and now have a negligible 10% of the company. The debt it has after the restructuring isn't bad compared to what most of its peers have.
The real question with Citadel is when the creditors who got the group will turn around and cash out.
The angry shareholders are the current owners of the equity of Citadel that use to be the guys that loaned them the money to buy he ABC stations. Believe me they are angry they wanted to make a loan not be stuck with the shares of stock hoping someday to get their money back when and if Citadel makes enough money so their stock is worth something. They got sold this loan deal by Faried and it blew up quicker than a 10 cent M-80. They are not someone I would want to report too right now. He has lost crediability with the Wall Street crowd and that is where he like to play. Not in Knoxville picking radio formats and looking at coverage maps of 98.7 and 100.3. We know he can't do that.
I certainly won't argue the creditors who ended up with Citadel want to run it. Those creditors wanted, and still want, money, not radio stations. However, they're not as stupid as they seem, even if they have kept Farid at the top. After all, they still want their money back, and the only way they're going to get their money back is to grow the business. Whether they'll be successful or not is a different issue. I have my doubts as most of these people don't understand the business of radio. There's also the fact that they've kept the executive team, which is something almost every other credit hasn't done. If I'd gotten ahold of Citadel, I'd have fired the executive leadership as soon as I got the keys!
By the way, don't think Farid's intimidated by these people and is afraid of reporting to them. If anything, he's probably emboldened. After all, he just pulled off the coup of the century by being able to stay on the job and keep his team. On top of that, he's outlasted his old boss, Mel Karmazin, the Mays brothers, Tom Castro, David Kennedy and many others. I'm sure that's feeding his ego.
By the way, don't think Farid's intimidated by these people and is afraid of reporting to them. If anything, he's probably emboldened. After all, he just pulled off the coup of the century by being able to stay on the job and keep his team. On top of that, he's outlasted his old boss, Mel Karmazin, the Mays brothers, Tom Castro, David Kennedy and many others. I'm sure that's feeding his ego.
T
Tennessee Cowboy
Guest
Kent said:I certainly won't argue the creditors who ended up with Citadel want to run it. Those creditors wanted, and still want, money, not radio stations. However, they're not as stupid as they seem, even if they have kept Farid at the top. After all, they still want their money back, and the only way they're going to get their money back is to grow the business. Whether they'll be successful or not is a different issue. I have my doubts as most of these people don't understand the business of radio. There's also the fact that they've kept the executive team, which is something almost every other credit hasn't done. If I'd gotten ahold of Citadel, I'd have fired the executive leadership as soon as I got the keys!
By the way, don't think Farid's intimidated by these people and is afraid of reporting to them. If anything, he's probably emboldened. After all, he just pulled off the coup of the century by being able to stay on the job and keep his team. On top of that, he's outlasted his old boss, Mel Karmazin, the Mays brothers, Tom Castro, David Kennedy and many others. I'm sure that's feeding his ego.
Buy my Citadel stock at half what I paid for it and I'll agree with you that he's a brilliant motherf@$&#r. Until then I will reserve the use of the word 'brilliant' in this context.
Right now I see him as an incompetent thief hanging by his fingernails.
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