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WADL owner buys WFDF for $3 million

mvcg66b3r

mvcg66b3r

Star Participant
Disney AM in Detroit Brings $3 Million

How much is that AM in the window?

$3 million, at least in the nation’s 12th-largest market.

Radio Disney is selling WFDF as part of its previously announced plan to shed most of its AM station holdings. The new owner will be The Word Network, an African-American religious broadcaster founded in 2000 by current CEO Kevin Adell and his late father Franklin Z Adell.
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See more at: http://www.radioworld.com/article/disney-am-in-detroit-brings--million/273354#sthash.xOFSiUOf.dpuf

This is the same Kevin Adell who wants to sell WADL for spectrum.
 
mvcg66b3r said:
See more at: http://www.radioworld.com/article/disney-am-in-detroit-brings--million/273354#sthash.xOFSiUOf.dpuf
Click to expand...

Bummer.

mvcg66b3r said:
This is the same Kevin Adell who wants to sell WADL for spectrum.
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He hopes for more than 50 times what he is paying for WFDF.

Word Network? Could this be obsolete news? Could this be referring to the buyer that backed out because Detroit Proper coverage was marginal? or did they turn around and buy the station after CBS (may have) stated neither WWJ nor WXYT was for sale?
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Almost certainly going to create a radio version of Word. Why else would he buy it? I'm kind of surprised he did. With his ego, I won't be shocked if he gives himself a daily talk show.
 
This just reset the values of all the AMs in Detroit. Can you imagine that at one time, we could have fetched over ten million for WXYT and probably more had they wanted to sell it, pre 2006.

Shoot, WLQV went for 14 plus.
 
Maybe. WFDF is sort of a distressed property because of it's lack of marketing for many years and Disney being highly motivated to divest it and the other RD properties. I absolutely agree it impacts the market prices, but perhaps not to a complete extent.
 
umfan said:
Maybe. WFDF is sort of a distressed property because of it's lack of marketing for many years and Disney being highly motivated to divest it and the other RD properties. I absolutely agree it impacts the market prices, but perhaps not to a complete extent.
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Since it is being sold as a stick, with no billing and no revenue, this would not be considered any kind of distressed property.

Profitable stations are sold based on metrics like leading and trailing cash flow, billing, ratings, etc. Sticks are sold based on power, frequency people covered and how much a buyer wants to be in a market.
 
Yes, David. This totally resets the values. This and the 1440 deal. I have someone interested in WCAR, but not at the 1.5 Million that Birach wants for it.

Salem should have taken WFDF and moved 1400 to it. Then, someone could have bought 1400 and returned it to Black Gospel.
 
They still may get that chance. Adell isn't very good at starting and sustaining new ventures. He may look to divest himself of this before too long, possibly at less than the $3M he'll be paying for it.
 
Sometimes, UmFan, it's wise to take the check and pay the capital gains tax. Know when to check out.
 
The sale closed and 'The Word' is now on AM 910. WADL (TV) is promoting the new station as 'Superstation 910'.
 
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