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International Church of the Grace of God Acquires WBIX

Wimmmex said:
Can I assume that the "International Church of the Grace of God" is the Brazilian group that is currently programming the station? I would assume that Salem would not sell to a competing religious group, but Brazilian (religious) programming would not compete with them.
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Yes, it is.
 
$1.7m includes towers, land, equipment, license... the whole works.
The same group also just bought a station in southern Florida (east coast) for something over $1 million.
 
Wimmmex said:
Overpriced? What do you think?
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There is an allocation of the price, showing the land to be $1.1 million, somewhere in the transfer application documentation. This was also reported in Tom Taylor's daily newsletter.
 
DavidEduardo said:


There is an allocation of the price, showing the land to be $1.1 million, somewhere in the transfer application documentation. This was also reported in Tom Taylor's daily newsletter.
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so..... 600 grand for the license ( 1510's license sold for 100K right?) equipment, and goodwill .... ehhh not a bargain but not an exorbitant price.

Salem recouped their initial cost, and maybe some other sunk costs... and got rid of something many owners can't give away... an AM license, plus sold a bunch of swamp land for over a million dollars.....

Sounds like some church is going to be doing a lot of on air begging, and Salem is laughing all the way to the bank, assuming they are not holding paper.

And they have an income stream aside from any broadcasting revenue, because without Ed Perry paying rent and probably helping with the physical plant, his whole 1510 AM and translator goes to crap
 
DavidEduardo said:


There is an allocation of the price, showing the land to be $1.1 million, somewhere in the transfer application documentation. This was also reported in Tom Taylor's daily newsletter.
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So....that means $600k for just the station license? (No land, towers, equipment or business).

At least, unlike 1510AM, they don't have to take down towers, and find another TX location....which, I suppose decimated the price/value of WMEX.

RE: WMEX, someone I know did contact the broker for WMEX and was told the minimum bid was $1 Million....and... there was already 1 bid for just under 1 million. I suppose this was all lies told by those involved?
 
Wimmmex said:
So....that means $600k for just the station license? (No land, towers, equipment or business).
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No, it's $600 for everything other than the real estate. Transmitter, studio equipment, licenses, permits, the towers themselves, the directional phaser and so on.

It's a package... to move a directional AM , besides land and the cost of permits, could cost in the vicinity of several hundred thousand for engineering, new towers, directional phaser, engineering study and filings.

And for that price, no downgrade in signal and night facility, the general result of an AM move these days (such as 1510 in Boston, or 570 and 630 in Washington, DC)
 
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