So what does everyone think the foreign format will be? Asian? Spanish?
The only 'group that runs foreign-language' programming that comes to mind is Multicultural Radio (this would be their sixth LA market station) and since they pretty much just broker time, it all depends on who's buying. However, since all-sports stations make money, not ratings........
The new licensee is not Multicultural but Mercury Capital Partners.
They own KLOK-AM in San Jose. Ethnic brokered time business model. Brokered out to the Asian Indian community.
They also own KKDZ-AM in Seattle. Ethnic brokered time business model. Brokered out to the Asian Indian community.
This doesn't make a lot of sense to lose a sports station with two new NFL teams coming and now the Clippers need a radio home
CBS eventually had to sell the station. Due to signal, this is not a fully competitive station and is better suited to serving groups like the various Asian populations in LA.
15 million is cheap for a station in LA. Sounds like the fire sale has begun in a industry that's in trouble financially.
15 million is cheap for a station in LA. Sounds like the fire sale has begun in a industry that's in trouble financially.
15 million is cheap for a station in LA. Sounds like the fire sale has begun in a industry that's in trouble financially.
Microbob: For a signal-challenged AM in Los Angeles, $15 million's pretty good. KHJ only brought $9.75 million last year.
The Big Question that is begging to be asked is: How much did CBS lose by not selling at the time they were deemed to be not exempted from the ownership limits by the FCC all those years ago until now?
The Big Question that is begging to be asked is: How much did CBS lose by not selling at the time they were deemed to be not exempted from the ownership limits by the FCC all those years ago until now?
Probably not as much as might be presumed, for the reasons David already gave. I recall that CBS got a lot of lowball offers around the time they put 980 into the trust, and when everyone is offering low, it becomes human nature to simply reject all suitors and hope something better comes along if you just wait.
I also recall that CBS had a waiver for a while and fought putting KFWB into the trust, so there were several years during which they probably didn't consider any offers, hoping to be able to somehow keep it.
Unless David beats me to it, I'll try to find time tomorrow to pinpoint when the waiver and the trust were on the timeline and then see what comparable AM facilities were selling for at those points.