Complicated question. Depends on if they would include the Mt. Wilson tower property. That's where the real fortune is.
The stations themselves might be worth $60-70 million.
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WABC Sold?
- Thread starter mets18
- Start date
Complicated question. Depends on if they would include the Mt. Wilson tower property. That's where the real fortune is.
The stations themselves might be worth $60-70 million.
I believe all the Wilson sites are rented from the administration of the park. The value is actually having a lease. But, since Saul was up there early on, he may have a special deal.
So the value is based on other last few sales, KPWR, KLOS and KXOS. Thant puts it in the $50 million range at best.
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Negative $5-$10M? I would honestly say max would be $1-$2M, but who would buy it and be able to find a niche market to be profitable? I am not so sure a million is too much to pay. I also would say $12M for WABC was probably overpaying. How can that become an asset that gains value in the years ahead?
Not sure that's the basis of value for radio. You're buying it for now, not in the years ahead. Radio pricing is based on market value now. That's why the prices companies paid 10 or 20 years ago seem to be overpaying. They were paying market prices then. I put a $60-70 million tag for all of Saul's stations. That may be overly optimistic. $50 million is probably more likely, but it depends on what's in the package they're selling and what the comps are at the time.
Saul does indeed make for a fascinating interview... which is why I just sat down with him a few weeks ago when I was out in LA.
www.fybush.com/podcast-039/
www.fybush.com/podcast-040/
There is privately owned property in the National Forest. Several Mt. Wilson broadcast parcels are private property. Based on information found in a brief search, Mr. Levine's company does not appear to own the real estate used for KKGO main transmitter site. A more accurate answer would take some research. As I recall, many Mt. Wilson sites were probably not what some radio people would expect to see. Some could pass for a nice backyard shed. That's not a put-down because Forest Service may require original appearance of building to be maintained as much as possible, and in some cases the original structure was a cabin.
It's astounding so many radio broadcasters managed to make so much ERP from Mount Wilson prior to 1964, albeit in horizontal polarization. They may have the Mount Wilson Hotel to thank for it. I believe the electric power line installed for the old hotel was used for the TV and radio stations.
It's astounding so many radio broadcasters managed to make so much ERP from Mount Wilson prior to 1964, albeit in horizontal polarization. They may have the Mount Wilson Hotel to thank for it. I believe the electric power line installed for the old hotel was used for the TV and radio stations.
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I believe the original electrification came when logging was attempted there before any lodging was built; the pathway up to the summit was also part of the logging enterprise. The logging effort failed, but the path was used to establish the first observatory up there in the late 1800's. At that point, a toll road, similar to Angels Crest Highway, was built and which was superior to the "path".
Lands purchased there before the establishment of the Angeles Forest were grandfathered. And many were allowed afterwards before current regulations were established. One of the new regulations allows property owners (mostly cabins) to keep them as long as they last, but with no improvements.
Even the properties owned under grandfathering pay a fee to the park service now, and they are essentially attached to the license.
And there is the reason so many sites are shared: it is hard / impossible / improbable to get a use permit for any land not under use now.
So returning to the original issue of the value of the land, I would say it is nearly nothing but is part of the value of a stations already on the site; it guarantees future use.
Thanks! Yes, it was a fascinating couple of hours - he beat me down the stairs from his office down to the studios. Long may he thrive!
The biggest exception is the KCBS FM and TV site. Set back from the ridge, it has a 1000' tower to improve coverage and to overcome blockage by the edge of the peak. I believe that an added advantage is appearing to not be as high as it really is as one or more radials used in HAAT calculations falls on the mountain rather than the foothills.
It's a large piece of land if you include the space needed for the guy anchors within the perimeter. I wonder what kind of deal CBS made and how much they pay for the property.
That's specifically due to the Fair Housing Act of 1968. Station sales are often dependent on the buyer promising to keep certain formats and such, like Christian Broadcasting Network selling to Fox , ABC Family, Freeform, but must broadcast the 700 Club forever in good time slots. Of course, the former owner has to have the money to enforce such agreements, which usually are ignored.
Generally, a sale will close at the end of the month in which the FCC approves the transfer. End of month is picked because it makes bookkeeping on receivables, payroll, rent, etc. much easier, although random day closings have happened.
The FCC has been approving most transfers in a 60 to 120 day window... but I have not looked at the filing to closing times recently to see if it has changed either way.
It's filler. I wouldn't read into it too much...
Come to think of it, this will probably coincide closely with the change in ownership. Maybe it's a way for Cumulus to send off their (and ABC and Citadel's) ownership of the station? Or it could be either the new owner or the recently appointed program director's decision. Regardless, I'm very happy to hear this news.
If they do this, I most definitely will be listening....at least at night, when I can pick them up in the Midwest.
RadioInsight says it'll run between 5am and 3pm.
https://radioinsight.com/headlines/179866/wabc-rewound-to-return-on-labor-day/
https://radioinsight.com/headlines/179866/wabc-rewound-to-return-on-labor-day/
I go with Luperm on this one.
'Filler'
'Good filler', but filler nonetheless.
It's a nice gesture but it comes with that 'holiday weekend' stigma .....a one-shot specialty show probably as greeted with apathy by anyone as your basic WCBS-FM or WOGL or WAXQ tokens.
Then you consider the music that'll be played .....
Moreover, ten years or so ago on the same station there was that Mark Simone Oldies show on Saturday night. I don't recall how that worked out, financially or ratings-wise. Perhaps someone here knows. The point is, this Labor Day special is more than likely to draw little aside from AM radio geeks who are now ten years older than they had been during Simone's show.
The idea is a cool and ostensibly earnest move, and it has to be better -- aesthetically, anyway -- than infomercials. But it won't go much further than that. The PPMs will point out the wisdom and the show's appeal.
'Filler'
'Good filler', but filler nonetheless.
It's a nice gesture but it comes with that 'holiday weekend' stigma .....a one-shot specialty show probably as greeted with apathy by anyone as your basic WCBS-FM or WOGL or WAXQ tokens.
Then you consider the music that'll be played .....
Moreover, ten years or so ago on the same station there was that Mark Simone Oldies show on Saturday night. I don't recall how that worked out, financially or ratings-wise. Perhaps someone here knows. The point is, this Labor Day special is more than likely to draw little aside from AM radio geeks who are now ten years older than they had been during Simone's show.
The idea is a cool and ostensibly earnest move, and it has to be better -- aesthetically, anyway -- than infomercials. But it won't go much further than that. The PPMs will point out the wisdom and the show's appeal.
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