92.1 WWSM-FM?

[frdeaconjosephz]

Today (10/21/2012) AllAccess reported the sale of 92.1 WTPA to Patrick Sickafus, Owner of 1510 WWSM for $530,000.00. Any thoughts, New format? my .02 simulcast of WWSM.

 

[Kent]

Whatever happens, it won't be WTPA much longer. The sales contract apparently states the entire staff will be fired when Sickafus takes over.

 

[bossjock 56]

Does this mean that they move back to the old WCTX building in Palmyra? WWSM is now housed in that building.

 

[John-Summers]

Whatever happens, it won't be WTPA much longer. The sales contract apparently states the entire staff will be fired when Sickafus takes over.

The end of WTPA after three decades. That really makes me sad. I can't think of another station I have enjoyed as much, despite all the changes the station has gone through, from day one to what will be the final curtain. Chris and Randy, thanks for keeping the spirit alive as long as you have.

 

[TODDMAYOR]

they both did a nice job and professionals. wow...from 104.1 to the legend continues to 93.5 to 92.1 wow... who got the better deal swidler or sickafuss considering price billing e.r.p real estate equipment etc.

 

[RockofHBG]

Yes, after years of being an also-ran beautiful music station, WTPA flipped to what was then called AOR in the fall of 1980 as "FM 104". As the first Class B FM in Central PA to do rock (the first being the original Starview 92, but they were blown away by TPA in their first rock book and soon after changed to "Music Of Your Life"), they topped the Harrisburg ratings and were an immediate success. Still dominant and in a surprise move in January of 1985, the decision was made to flip 104 to WINK as a CHR and the WTPA call letters, format, and some of the staff made the move to 93.5 in a deal brokered by the then-married 104 GM Carol Logan and Quaker State Broadcasting principal Jim O'Leary. The first major negative change by many listener's estimate was a 1999 move away from most of its current rock to a more library based "Classic Rock That Really Rocks" After acquisition by Cumulus and a gutting of most of the airstaff, the station was a shell of itself. The final blow was the move to 92.1.

If this new company jettisons the WTPA call letters and format as is expected, I guess that would allow someone else to pick them up. Would that allow cumulus to have it? They already divested the "intellectual property" of WTPA. It would only seem fair that if abandoned, it should be up for grabs and even Cumulus should be allowed to reclaim it if they so desired. Perhaps Pat Sickafus plans to sell the WTPA brand. And will Sickafus take 1510 dark? Physically, it is in terrible shape and probably has few listeners.

 

[mcradiofree]

It was a no-brainer who was going to eventually end up with that station. Still shocked at the price. Would have been more prudent for someone to buy both 102.3 and 92.1 and simulcast at that price. Would have gotten pretty much Hbg, Carlisle, Lebanon coverage. Anybody remember what the original sale price for those 2 were? as I recall it was in the millions. The X and 92.7 stock just went up.

 

[RayThomas]

102.3, in combo with AM 960, was sold by Mid Atlantic Network of Winchester, VA to Lincoln Zeve for 1.7 mil in 1989. He sold the combo to Citadel in 1998 for 4.5 mil. I seem to remember Hugh Clinton selling 92.1 to Michael Brandon and his partners, then owners of 93.5 for 1 mil about 20 years ago. The two were simulcast for a brief period of time in the 90s.

 

[Kent]

If this new company jettisons the WTPA call letters and format as is expected, I guess that would allow someone else to pick them up. Would that allow cumulus to have it? They already divested the "intellectual property" of WTPA. It would only seem fair that if abandoned, it should be up for grabs and even Cumulus should be allowed to reclaim it if they so desired.

Cumulus can't pick up the intellectual property of WTPA without unloading a format with equal or greater billing because their consent decree with the DOJ doesn't permit it. The station has to be gone long enough for the brand equity to go away before they'd be able to relaunch it. I believe the DOJ normally requires it to be gone for a year. The whole purpose of the settlement with the DOJ is to keep Cumulus below an agreed upon share of the total market revenue. The DOJ wasn't about to let them divest a signal to an EMF-like operator and turn around and put the intellectual property on an underperforming signal. Cumulus has to get rid of that revenue share, and that's all there is to it.

Perhaps Pat Sickafus plans to sell the WTPA brand. And will Sickafus take 1510 dark? Physically, it is in terrible shape and probably has few listeners.

Sickafus isn't buying the 'TPA intellectual property and, therefore, has nothing to sell. I suppose there's an off chance that Cumulus will find another buyer for the 'TPA intellectual property, but I wouldn't hold my breath. As for 1510, your guess is as good as mine. I'd assume he's buying 92.1 because he knows AM is dying, and a higher band AM is pretty worthless in terms of its coverage. However, that doesn't mean he won't try to do something new with it.

 

[RockofHBG]

Sickafus isn't buying the 'TPA intellectual property and, therefore, has nothing to sell.

You're saying he's only getting the license and stick, no call letters or format. So what prevents, say WQIC, from filing for the call letters, hiring the staff and putting the format on 100.1 the day the sale passes to Sickafus? They must be parking the letters in another market until such a time as someone would want to buy the intellectual property.

 

[Kent]

You're saying he's only getting the license and stick, no call letters or format.

Inside Radio is reporting Sickafus has either had a change of heart and will pick up the intellectual property of WTPA after all or has found someone else who will take it.

So what prevents, say WQIC, from filing for the call letters, hiring the staff and putting the format on 100.1 the day the sale passes to Sickafus? They must be parking the letters in another market until such a time as someone would want to buy the intellectual property.

Nothing would prevent it. The consent decree only prevents Cumulus from keeping it without divesting another station in the market that gets equal or greater revenue.

 

[andthehits]

I am sure WWSM-1510 AM will become WWSM-FM at 92.1. I guarantee the place will be operated out of the Gravel Hill studio (the former WCTX)...thus, what goes around will come around. And, the format will probably be what is currently on WWSM AM, in FM stereo. Pat will need to sell advertising to pay the note...currently there is apparently no sales staff at WWSM, only some paid programs (Al Shade, religious), a few carry over clients from the old days and that's about it. Pat Garrett/Sickafus got a deal price wise on this one.

 

[RayThomas]

I'm not so sure I'd bet on that scenario. I don't know Pat Garrett, but he is, by all descriptions, quite a successful businessman with a number of enterprises including a sheepskin shop and restaurant. He has an AM station that has "a few paid programs and some carryover clients." In short, a marginal, break-even (at best) operation. He now buys an FM for a half a million bucks. A bargain price, yes, but still a boatload of money! That FM comes with a highly-rated heritage Rock format with a 30-year track record, a seasoned professional staff and 7 figure annual billing! What does a smart, highly-successful businessman do? Put the AM format on FM? NO, HE LEAVES IT ALONE AND COLLECTS A NICE CHECK AT THE END OF EVERY MONTH! At least that's what I'd do, without the slightest doubt. I'd bet the farm on it.

 

[Kent]

I agree with you that he got a steal on 92.1. I suspect he'll have to pay more than the $530,000 price tag if he wants the full intellectual property of the station, though. Cumulus had to divest a Flint rimshot that citygrades only 30% of the city with far poorer ratings and got more than double the initial price of 'TPA because the buyers picked up the intellectual property.

I wouldn't be surprised if 'TPA continues to run rock on 92.1 but as a fraction of its former self. I hope I'm wrong, but I could see a satellite classic rock format getting thrown on the station while it keeps the calls and name. It doesn't look like WWSM has much of a staff, but it's not billing enough to afford much of one from what everyone here is saying.

 

[DaveWilliams]

Ray, your logic is right on BUT you know radio, regardless if a station has something thats working, the brains of the operation always have a BETTER idea, and when it doesn't work, they just move on. If Cumulus was a REAL company, they would absorb the people being let go into their other operations so they can continue having a life and making a living BUT.....need I say more? I'm glad I'm DONE with it.

 

[RockMustLive]

If they change the format, it'll just be a copycat of something else in the market. Nothing original in Central PA, it would upset the apple cart too much.

 

[mcradiofree]

Could be since he bought it at a fire-sale price, maybe he'll re-sell at a much greater price. That station is still worth millions as far as revenue goes. with classic country, Garrett wouldn't be able to do much as far as revenue in HBg, largely due to the over saturation of country outlets.
If he's depending only on Lebanon county to survive, he will not make money.

 

[greenflag]

Interesting. You knew the sale was going to happen eventually, they had been running that commercial for at least six months. I would bet that it becomes 1510 on the FM dial.

 

[DaveWilliams]

So gas anything changed with this one?

 

[Magnum]

92.1 WTPA

Any updates on the sale of WTPA to Patrick Sickafus? When does it happen? What will happen to the format? I see that WTPA still has the "save WTPA" on their webpage.