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Salem financial troubles

M

MediaMan

Salem which owns Atlanta's FISH 104.7, has announced their exit from Greenville, SC where they own a Class C and two class A FM stations. K-Love/EMF is the buyer at almost $7 million.

The stories of the Greenville sale included info in the trade industry news sources the publicly traded company had fallen out of compliance with its lenders and was basically in a scramble to generate cash.

WFSH has just north of 5 million in it's 60 dBu so at the going rate of $2.25 to $3 per person in the 60 dBu, it would be worth from $12-$15 million in today's non-com FM market.
 
Bill Zurmuehl said:
Maybe an opportunity for a possible VCY America entrance into Atlanta, GA.
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I wonder if they would be interested in some of Salem's ATL AMs, although they already got rid of daytimer 1190. They could get rid of the class C/daytimer D simulcast pair of WLTA 1400 and WNIV 970, and keep 920 and 590. Of course, they're not going to get much coin for those.

PTBoardOp94 said:
I would think WFSH would be one of the key assets Salem would try to hold on to, through whatever difficulties lie ahead.
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Agreed, and they could sell to a commercial operator as well. iHeart and Audacy aren't maxed out in ATL (although Audacy has its own financial issues), and Cumulus could pick up 104.7 to replace 106.7, again if there's cash in the kitty.

Since Cox Media is no longer affiliated with the AJC, could Cox pick up 104.7 without having to deal with the AJC ownership waiver? Or does Cox Enterprises still own a significant-enough share of Cox Media? Or do we have to revisit the whole question about how many Cox FM stations are city-grading one another and the city-grade gap between 97.1 and 104.1? I've lost track of the recent changes in the FCC's ownership rules.
 
jabba17 said:
I wonder if they would be interested in some of Salem's ATL AMs, although they already got rid of daytimer 1190. They could get rid of the class C/daytimer D simulcast pair of WLTA 1400 and WNIV 970, and keep 920 and 590. Of course, they're not going to get much coin for those.


Agreed, and they could sell to a commercial operator as well. iHeart and Audacy aren't maxed out in ATL (although Audacy has its own financial issues), and Cumulus could pick up 104.7 to replace 106.7, again if there's cash in the kitty.

Since Cox Media is no longer affiliated with the AJC, could Cox pick up 104.7 without having to deal with the AJC ownership waiver? Or does Cox Enterprises still own a significant-enough share of Cox Media? Or do we have to revisit the whole question about how many Cox FM stations are city-grading one another and the city-grade gap between 97.1 and 104.1? I've lost track of the recent changes in the FCC's ownership rules.
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Maybe Greg Davis could pick up 104.7, switch it to what WLKQ 102.3 is doing, and put the Smooth Jazz on 102.3
 
Only way Salem sells WFSH is if they scrap their CCM programing, which is highly unlikely. The WFSH program director overseas all of the company’s CCM format. Plus several WFSH personalities appear on their other CCM stations.
 
Bill Zurmuehl said:
Maybe Greg Davis could pick up 104.7, switch it to what WLKQ 102.3 is doing, and put the Smooth Jazz on 102.3
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107.1 was an ill fit for Atlanta proper, even with the upgrade, more so than 104.7--so 104.7 won't be as cheap as 107.1 was. 107.1 has the advantage of getting most of the northern suburbs + Dalton, and the Hispanic-heavy part it can't reach, 102.3 can.

Not sure the benefit of putting smooth jazz on 102.3. Another Hispanic format would make more sense.
 
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