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KFNX in Chapter 7 Bankruptcy

K

KeithE4

Walk of Fame Participant
KeithE4 said:
More here. The station is expected to be sold.
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YIKES!...Hair on fire!! Purchased in 2005 for $4.85m. A real buzz cut is a comin' on that price in today's market. And what becomes of the 37% interest former owner Francis Battaglia has in the station?
 
There appears to be some irony in a financial radio station going Chapter. At least it isn't 11.
 
landtuna said:
There appears to be some irony in a financial radio station going Chapter. At least it isn't 11.
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This is KFNX 1100, not KFNN 1510.

And it's better to file Chapter 11 (reorganization) than Chapter 7 (liquidation). A business can continue to operate under Chapter 11 protection; Chapter 7 means they're done. The station will be sold for much less than the land the towers are on is worth, more than likely to some religious outfit (Salem?) or a land developer who has ready cash. The latter would mean that KFNX would go dark unless they could piggyback onto another station's facilities and find a buyer for the studio and license.
 
KeithE4 said:
This is KFNX 1100, not KFNN 1510.

And it's better to file Chapter 11 (reorganization) than Chapter 7 (liquidation). A business can continue to operate under Chapter 11 protection; Chapter 7 means they're done. The station will be sold for much less than the land the towers are on is worth, more than likely to some religious outfit (Salem?) or a land developer who has ready cash. The latter would mean that KFNX would go dark unless they could piggyback onto another station's facilities and find a buyer for the studio and license.
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I had everything backasswards, didn't I? Gotta switch back to light beer. Killing too many brain cells.

Sold my <sob!> Saab tonight. Tough reading through the tears.
 
KeithE4 said:
This is KFNX 1100, not KFNN 1510.

And it's better to file Chapter 11 (reorganization) than Chapter 7 (liquidation). A business can continue to operate under Chapter 11 protection; Chapter 7 means they're done. The station will be sold for much less than the land the towers are on is worth, more than likely to some religious outfit (Salem?) or a land developer who has ready cash. The latter would mean that KFNX would go dark unless they could piggyback onto another station's facilities and find a buyer for the studio and license.
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Now where am I going to hear the blend of alt-right syndicated talkers and holistic medical "experts" buying hourly blocks of time?
 
indieradioguy said:
92.3 on the weekends - seriously.
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And virtually every Ancient Modulation station in the Valley! So it shouldn't be a problem selling 11~Hundred to someone or some group wanting to continue the noble tradition of KFNX. (sfx-fake studio audience: ooooh)

15~Eighty just sold for $450k with no land, and no history of revenue. This one has billing and land, but it's right next to a landfill! Los Buckeye Boyz think somewhere in the range of $1-1.5m should take it. Daytime coverage is very good.
 
DrAkbar said:
15~Eighty just sold for $450k with no land, and no history of revenue. This one has billing and land, but it's right next to a landfill! Los Buckeye Boyz think somewhere in the range of $1-1.5m should take it. Daytime coverage is very good.
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Yessssir. It seems AM's have been going for about a third of their pre-recession prices. The landfill view probably lowers the price if there is any suspicion it might be a candidate for Superfund status.
 
indieradioguy said:
92.3 on the weekends - seriously.
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The format would fit in well with 1260's stand-up comedy and constant ads for gun shows. However, they won't be able to call themselves "the 50,000 watt powerhouse" if they were to move to AJ.
 
I keep thinking about the 20 year history of 1100 AM in Phoenix, starting out with the full-service soft AC format that was ten years behind the curve as KCCF. Then came:

-"Reniassance Radio" - where anyone with money and a voice could get on the air.
-Syndicated talk mixed with brokered shows era 1
-The six months Mike Barna ran the show and tried to legitimize the operation
-Back to syndicated talk mixed with brokered shows
-"#MAGA Radio" of today

18.5 of those 20 years the station has been overseen by the Battaglia brothers. An end of an era, indeed, if Francis and Matt don't find someone else to fund the station.
 
EricStein said:
I keep thinking about the 20 year history of 1100 AM in Phoenix, starting out with the full-service soft AC format that was ten years behind the curve as KCCF.
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Yes indeedy. Cave Creek, CareFree = KCCF with Sweet Bill Heywood in AMD. Damned good daytime coverage...sucky at night, but you can say the same for just about all Valley Ancient Modulation stations.
 
EricStein said:
An end of an era, indeed, if Francis and Matt don't find someone else to fund the station.
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Seems like the time for that is over if the partner has been declared bankrupt and an attorney is now trustee for that estate. It's now in the hands of the trustee. No?

I imagine they HAD been seeking another co-owner for some time before this happened.
 
KFNX, the only AM station in the valley currently broadcasting at 50,000 watts during the day. Hopefully the new owners put something good on this station. With just 1,000 watts at night, though, they seriously need an FM translator just to be a blip on the Phoenix radio radar scene. Another Sports Parking Lot anybody?
 
asugeorge1 said:
KFNX, the only AM station in the valley currently broadcasting at 50,000 watts during the day.
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Lest we forget, KPXQ 13~Sixty is 50kw day with 1kw night. Of the two, 11~Hundred is definitely wackier per watt.
 
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