LA AM sold

KTYM-AM 1460 has filed to sell the station to IHR Educational Broadcasting for $ 6,000,000.

Interesting. IHR stands for Immaculate Heart Radio and is the quasi-offiicial Catholic broadcastiong system in the Western United States.

The website of each one listed on their website specifically identifies the diocese that it covers. Acquisition of KTYM will be the first in the Los Angeles diocese.

Here is a link to the California list:

http://ihradio.com/stations/california-stations/

The sale is "stick value" as none of the paid programs will remain. IHR's Doug Sherman has raised $2.4 million so far for the purchase. The purchase price of $6 million is due in cash at closing with a $400,000 deposit already made. Question is which LA station will pick up the paid programs now on KTYM ?

jonbruce said:

...question is which la station will pick up the paid programs now on ktym ?

Click to expand...

kabc?

Immaculate Heart Radio programming has been in the Bay Area for a few years now - on 1260 AM, famous for Top 40 KYA in the 60s thru early 80s, and most recently the AM repeater for KOIT "Light Rock."

IHR - is a "Marion - Conservitive" non-profit corporation -- totally independent of any "official" connection with any Diocese or part of the Catholic Church.

Good luck and God Bless Doug and IHR.

That said, It does provide the established truths of the Roman Catholic faith to all.
Doug Sherman is the main energy behind the group and is one of those "very few" persons that you meet in your life. I good and honest business perfessional who is trying to promote his faith and share it with others -- not for money or personal profit or gain. IHR is the most successful "Catholic Radio group" on the west coast -- but there are several other independent "RC" radio groups throughtout the Untied States.

By Church "cannon law" the word "Catholic" may not be used by anyone not directly a part of the Roman Catholic Church. IHR only promotes the true faith of the Roman Catholic Church.

I notice KFWB is hiting the basement, just above KPFK with a 0.2. How much does KFWB bill, and how much does KTYM bill.

Here is a press release from IHR's Doug Sherman. They have 31 stations and aclainm to ave the full support of the Los Angeles diocese in this expansion

.http://www.reuters.com/article/2014/04/15/cqn-ca-immaculate-heart-idUSnBw156352a+100+BSW20140415

Brokered indeed - top rate is $320 per huor and many timeslots offered for less than that (see rates tab on site below)!

http://ktym.com/

Of course with only 500 watts night time (5000 days) what can you expect? Can the station be bringing in much over $150,000 a month? Doubtful. The owners at $6 million got a great deal. Why did the buyers pay so much? Because they genuinely wanted a legal outlet in Los Angeles - unlike the pirate station in Boston that got closed down this past week - and such outlets are rare. Too bad for them that much of the target audience in the county won't be able to clearly hear the station.

How times change, KMPC (1540 AM "The Ticket") sold in late 2006 for $25 million...In December, 2012, EMF bought three suburban FM's from the Amaturo Group for $8.8 million...Was the last full market coverage FM sold in LA, 100.3? No way Bonneville could get anywhere near what they paid Radio One for it.
Fair guess is that KFWB hasn't sold because they are in a negative cash flow situation (or neglible cash flow) rendering standard multiples irrelevant. So whatever the current stick value is for an decent, not great, LA AM, isn't satisfactory to CBS and the "trust". BTW, it wasn't long ago when KFWB was billing 7 times what they are now...the station is a sales and ratings travesty.

Actually KTYM may be a stronger value for the purposes of its buyer than first thought. Just on a lark I tuned it in today in the San Gabriel Valley. The signal from Inglewood wasn't as strong as that of KABC or KFWB, but it was still audible and clear, completely listenable in the foothills.

Its major disadvantage is that it is buried at the right hand side of the dial, sandwiched between a plethora of non-English language outlets. But if promoted as to its location among the Catholic faithful (such as in the Catholic Tidings weekly newspaper) it's daytime signal is capable of building an audience reaching more of its target audience than I initially expected.

I do not know whether the signal is equally listenable in the San Fernando and Pomona valleys or in Orange County by day or anywhere at night (when its 5000 watt daytime power drops to 500 watts), but the Immaculate Hart people may know exactly what they're doing. There is certainly nothing to preclude them from allowing selective brokered programs to continue on the station instead of simulcasting the network 24/7.

KTYM is very strong in the san fernando valley. I used to listen to it in 1958 when in jr. high school there when it was a country music station. Coverage is not good in orange county what with 1480 in Santa Ana. I lived in Pomona for many years but by that time the station was all paid shows that I had no interest in so I never dialed it up.

KTYM, despite being a “brokered station” apparently has more going for it than most (myself included) give them credit for.

Here, for example, is a report on a program by a fairly well known black activist who writes for the Huffington Post that was featured in the Daily News in February:

‘Hutchinson Report’

KTYM’s (1460 AM) “Hutchinson Report” often tackles issues that other shows ignore. On Feb. 14, host Earl Ofari Hutchinson conducted an interview with Robert K. Ross, chairman of the California Endowment, in which the topic of an education achievement gap was discussed.

“Dr. Ross brought out some issues that not even I was aware of,” Hutchinson said in a press release. “The poor school performance of many African-American and Hispanic males is tied into the health care crisis that currently exists in our communities. As these students get passed along there begins a process of doubt that gets imbedded in their mind. This leads to poor eating habits along with a hostile environment that too often leads to incarceration, even death.”

The show airs from 9 a.m. to noon Mondays and Fridays on KTYM.

http://www.dailynews.com/arts-and-entertainment/20140219/kabc-kfi-welcome-new-hosts#2

On this Friday evening I listened to a live call-in program by a licensed medical physician who runs a nephrology clinic in Inglewood as her day job but also advocates using homeopathic approaches, particularly music and nutrition, to prevent disease. This morning I heard a host (Latoya Williams?) interviewing the author of a book on protecting against sexual predators. The interview (billed as a production "of KTYM Public Affairs") was arguably just as good as the larger “live and local” talk outlets or NPR affiliates.

The point? There is some KTYM programming that new owner IHR may wish to consider retaining.

Art Landing said:

Its major disadvantage is that it is buried at the right hand side of the dial, ,,,,

or in Orange County by day or anywhere at night (when its 5000 watt daytime power drops to 500 watts),

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Unlistenable throughout most if not all of Orange County in the daytime, at night, fuhgeddaboudit!

What the hell is "right side of the dial"?? What's a dial and what is on the right of my digital readout on my car radio is the scan button. [:^D}

OK - So I'm showing my age by using the term "dial." I remember what vaccuum tubes were as well, plus rotary dial phones.

The point of this thread is what caused the new owners of KTYM to pay a premium for an unrated brokered station many (including me) haf forgotten was out there.

The way this deal is structured IHR owns the stock of the selling company, which is spinning its other operations off into a new entity. Thus the non-profit IHR now owns a commercial ststion Not all of IHR's 31 stations simply ride the IHR feed from Loomis, CA - several have local programs. The Los Angeles Catholic diocese is also involved, so its worth watching. Stay tuned?.