tag:blogger.com,1999:blog-3406438944314676533.comments2013-04-14T22:09:29.404-04:00George Reed's Radio/TV Station Trading ViewsGeorge Reedhttp://www.blogger.com/profile/05642321040163272523noreply@blogger.comBlogger109125tag:blogger.com,1999:blog-3406438944314676533.post-20540493501900098392013-04-14T21:46:02.773-04:002013-04-14T21:46:02.773-04:00Hi, George. Thanks for your report. What do the ...Hi, George. Thanks for your report. What do the tv sale and lending multiples appear to be?<br />Dennis Jones<br />Dennis Joneshttps://www.blogger.com/profile/14072902543091778215noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-59216213286336243772012-06-06T06:54:07.899-04:002012-06-06T06:54:07.899-04:00This is 2012 buying a radio station is somewhat li...This is 2012 buying a radio station is somewhat like buying a bridge in brooklyn. It's going to be very hard to turn a profit. The only way to turn one is to cut cut cut your costs and overhead. Have a great engineer that can keep your existing equipment operating and yes try to get secondary income from other source on your towers and signal. People don't listen to radio cause radio is has changed.<br /><br /><br />Jeffrey Goldjgold50https://www.blogger.com/profile/16622096684248877950noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-70949598587538554402012-05-24T08:19:15.254-04:002012-05-24T08:19:15.254-04:00George, are AM stations valued differently than FM...George, are AM stations valued differently than FM stations, and if so how? Would it just be a different cost per pop, and if so what do you think that is these days for a stand alone AM station (with no translator) in a rural unrated market for a station that is breaking even? Thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-59765888833721183462012-05-14T18:54:36.327-04:002012-05-14T18:54:36.327-04:00I agree with Mr. Weaver, we are currently doing a ...I agree with Mr. Weaver, we are currently doing a deal here in Colorado at 4.2 x EBIDTA. And, a debt facility at 75% of that multiple. But, I do agree with your take on the reality check that business is up.<br /><br />I appreciate the posts George!Chuck Lontinehttp://www.marconi.ccnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-88168896864958637862012-05-05T17:47:10.970-04:002012-05-05T17:47:10.970-04:00Just gotta say it. To spend 7 to 8 years just to ...Just gotta say it. To spend 7 to 8 years just to pay for your radio station investment seems too long. Lots of variables, I agree, but for a business in as much turmoil as this one, 3 to 5 times cash flow is more like it. George. I know you want to extract the max for your sellers...and God Bless you for doing that, but for those of us running radio stations it's a very tough selling environment in most instances. Expenses continue to rise and few markets are really growing.Jackson Dell Weaverhttp://www.intownmedia.comnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-69668641760211184252012-03-19T10:47:14.187-04:002012-03-19T10:47:14.187-04:00The value per pop is still running in the $3 to $6...The value per pop is still running in the $3 to $6 range at this time. For rated markets, I would use the pop count in the 60 dBu contour for just the counties included in the Metro area, and would ballpark a $4 per pop value. This assumes that there is no cash flow and only limited revenue.George Reedhttps://www.blogger.com/profile/05642321040163272523noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-70608193944347007812012-03-19T10:37:23.185-04:002012-03-19T10:37:23.185-04:00This is a confidential listing, so I cannot respon...This is a confidential listing, so I cannot respond publicly. Please email me at george@mediaservicesgroup.com and include your contact information. Thanks.George Reedhttps://www.blogger.com/profile/05642321040163272523noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-26654480136103230252012-03-19T03:29:40.582-04:002012-03-19T03:29:40.582-04:00I have emailed and no response...Looking for what ...I have emailed and no response...Looking for what states it they are in. Looking for Indiana, Illinois, Kentucky or Ohio.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-88976768945763988092012-02-04T11:15:03.314-05:002012-02-04T11:15:03.314-05:00George, would you still calculate a 3$ per pop in ...George, would you still calculate a 3$ per pop in 2012? What would you estimate a class A in a 167 ranked market? What about one just outside that same metro?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-6526511220738209542011-07-22T18:09:54.121-04:002011-07-22T18:09:54.121-04:00I, too, had a glimpse into the future of radio, as...I, too, had a glimpse into the future of radio, as well.<br /><br />I just finished up teaching a course at Yale, this summer, entitled "Issues in Internet and Telecommunications Law".<br /><br />I took the students on a field trip to the Clear Channel studio complex in Hartford, CT. What an eyeopener that was!<br /><br />The students were amazed at how computers have become emeshed in the operation of radio and how radio is poised to dominate not only audio streaming but has the capability of streaming video as well. <br /><br />The conclusion: radio is far from dead in the age of computers and digital devices.<br /><br />Fred Polner, Esq.<br />POLNER LAW OFFICE<br />Madison, CT<br /><br />P.S. A shout out to my old friend and client Dan Vallie. Lookin good, DanFred Polner, Esq.http://polnerlaw.comnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-23504958593136471362011-04-30T10:24:13.729-04:002011-04-30T10:24:13.729-04:00That's a mind-boggling stat to even a teacher ...That's a mind-boggling stat to even a teacher of Statistics!<br /><br />Dr. Dr. Thayer, DeVry University Visiting Prof.<br />(and owner of streaming/on air + iPhone wzphfm.com)Dr Drhttps://www.blogger.com/profile/12224826305019789276noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-46644229691790863422011-04-26T15:49:33.310-04:002011-04-26T15:49:33.310-04:00I do not know of any "comps" which match...I do not know of any "comps" which match your question. But my gut tells me that the value would be less than $3 per pop; perhaps a lot less. And that would assume the station to be fully operational.George Reedhttps://www.blogger.com/profile/05642321040163272523noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-5269477008818752412011-04-25T12:23:56.349-04:002011-04-25T12:23:56.349-04:00Congratulations George. Maybe you can give me some...Congratulations George. Maybe you can give me some insight on something. How would one go about deciding on a ballpark value on a 200 watt non commercial FM signal that is dark and has only been used as part of a daisy chain. I know the population count in the 60 dBu contour is about 60,000. Any advice is appreciated.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-40110209538535062912011-02-12T13:14:23.559-05:002011-02-12T13:14:23.559-05:00Thanks for the insight....Thanks for the insight....Billy Craighttps://www.blogger.com/profile/09817306063018457044noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-13626943470445219642011-01-14T14:44:58.715-05:002011-01-14T14:44:58.715-05:00a little old 2003a little old 2003Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-46443173998123510432010-11-04T21:22:01.028-04:002010-11-04T21:22:01.028-04:00the best is yet to come; but radio has always been...the best is yet to come; but radio has always been "change or die"...sorry to be so blunt, but if you are playing it safe, you are digging your own grave. jim seagull 813-777-8188Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-15481513322802650852010-10-28T20:11:13.128-04:002010-10-28T20:11:13.128-04:00Simply stated polarities are good at stirring reac...Simply stated polarities are good at stirring reaction but I think (and I know you agree) that the situation is more complicated than these opposing views.<br />Radio was a fairly simple business for many years that many of us profited from. However, many have characterized this current recession as very different from other downturns. It has been called a reset, which makes our situation much more nuanced. Today's leaders are making a few assumptions about the future of radio based on their view of what's driving listeners' and advertisers' behavior. Their view of the future leads them to "bet the farm" in a given direction. Decisiveness is admirable but a singular direction without contingencies in a complicated world is problematical. A group of about 30 owners, researchers, brokers and other interested parties have been participating in a dialogue forecasting radio's future using a model called Scenario Option Development. When we met in April of this year we agreed that there are 3 primary drivers of the future with opposing polarities:<br />1. Advertiser Confidence in radio resulting in increased or decreased expenditures<br />2. Radio transformed into an App on multiple platforms or being driven in the traditional tower game(RF)<br />3. Users/listeners valuing our content or migrating away to other sources for their information, entertainment and energy<br />By laying the polarities of these drivers out in a grid format you see 4 distinct scenarios for the future emerge. These scenarios and the rest of the work these people did are laid out on our web site www.radioscenario.com. Click on Whitepaper and read the work of this group. I would value your feedback.<br />At the end of the day successful radio stations have 2 main assets:<br />1. A brand with listeners that represents a lifestyle, music and a community, etc.<br />2. A brand with advertisers that hopefully represents a degree of advertising expertise<br />The challenge is maintaining these brands in the face of a challenging economy and leveraging them to create a new and profitable future.Jim Hookerhttp://www.radioscenario.comnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-11478421515681111612010-10-28T18:24:05.614-04:002010-10-28T18:24:05.614-04:00Radio is NOT dead. That is because radio is not ju...Radio is NOT dead. That is because radio is not just a mode of distribution, it is a content creator. More specifically, radio creates and customizes content to its particular listening audience - both demographically and geographically.<br /><br />But, if radio continues in only one mode of distribution - over-the-air broadcasting - it will be dead. Radio must adapt (and radio has a great history of being flexible)to how its audience receives its content. Radio must stream its content. And, even better! With streaming, radio even can add video content, such as commericals which now run on cable TV, so that radio truly becomes "radio with pictures" [which some of you may remember is what they called television]. Imagine that!<br /><br />Fred Polner, Esq.<br />Polner Law Officefred@polnerlaw.comhttp://polnerlaw.comnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-75908298371206622802010-10-28T17:40:59.657-04:002010-10-28T17:40:59.657-04:00George, you are totally ON target. Find me a real ...George, you are totally ON target. Find me a real bargain!!<br /><br />Bob HamiltonAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-27672176433233715402010-08-25T16:16:09.416-04:002010-08-25T16:16:09.416-04:00Bruce, you make some excellent points. And as a ...Bruce, you make some excellent points. And as a pretty regular night-time listener to WSB (though I live in north Florida), a station broker, and co-owner of two AM's, I hope that you are correct. GeorgeGeorge Reedhttps://www.blogger.com/profile/05642321040163272523noreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-21464148091648710362010-08-25T16:00:57.642-04:002010-08-25T16:00:57.642-04:00George, as a guy that owns 6 AM radio stations I d...George, as a guy that owns 6 AM radio stations I do disagree. What Cox is doing with WSB is adding coverage in the NE corridor of Atlanta. The FM does not have full market coverage. If they turn the talk format off of the AM, they would lose most of their audience. The same can be said of the AM-FM combo in Jacksonville. Both FM's are adding FM coverage that is inferior to the existing AM. The AM continues to have the bulk of the audience in Jacksonville. I am very familiar with the 690AM coverage as a former owner of that stick. The benefit of adding the FM simulcast is that the listeners at the beaches can now hear the programming when the AM 50KW reduces power and direction. There may be some younger listeners from the FM, but the AM is the clear cut winner in number of listeners. It would be a disaster for Cox to change format on the AM in either market. I also think that AM radio stations will retain value and listeners in the Talk Format. FM has the superior sound, but in the Talk venue, the advantage is taken away. I also have seen where an addition of Talk or Sports on FM, in certain markets, has actually helped bring higher awareness to the AM competitors in the early stages of the switch. If you look at WEEI, WBZ, WMAL or KDKA you still find that they either continue to be #1 in the format or a strong competitor to the FM counterpart. So, let's not jump to conclusions about reduced AM values or throw in the towel by changing format on those Big AM signals. It really comes down to a content war, not an AM-FM war for station owners. The best content wins regardless of AM-FM-Digital-Web or whatever else there is out there where listeners are entertained and informed. The retention or increase in radio station values will be there for owners that continue to deliver the best content for listeners and the best results for their advertisers.Bruce Madurihttp://www.radiogenesis.comnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-44851303173249143092010-08-19T23:52:33.620-04:002010-08-19T23:52:33.620-04:00Keep the subcaps it's the only way to keep AM ...Keep the subcaps it's the only way to keep AM viable, make more translators available for AM do not make translators attributable. Allow newspapers and TV stations to buy radio stations regardless of market size.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-56501967965261891642010-08-19T12:33:46.906-04:002010-08-19T12:33:46.906-04:00The sub-cap issue is short sighted. Certainly it w...The sub-cap issue is short sighted. Certainly it would bring more capital into the market but in long term, it would further dilute the variety of programming and create more "voice tracked jukebox" radio stations. And we know that listenership is moving towards alternative (Ipod) music sources because of exactly that. Additionally it would allow the dominant market group to use it's power to dictate spot rates...which pushes the little guy out of business. Let's face it...once radio became a Corporate Cash machine it lost it's appeal.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-36737014156690684692010-06-24T22:18:55.386-04:002010-06-24T22:18:55.386-04:00Bravos, George. Agree with you this is a big mista...Bravos, George. Agree with you this is a big mistake. Moreover, it's a tone deaf move considering brokers are one of the last constituents that still attend the fall show. Should, in fact, Jeff Haley be the person responsible for the decision making involved in this patently stupid notion, shame on him. Further, shame on the NAB staff and those serving on the steering committee for allowing Haley to (prospectively) dismantle what has become a important tradition and one of the precious few signature events of the show. Your suggestion to contact RAB and NAB is good counsel.<br /><br />On Haley, I'm reasonably certain he's not a bad guy. I met him during his first Radio Show. As it happens, that meeting occurred at a cocktail party hosted by a leading media brokerage firm.<br /><br />It is my suggestion that Haley is miscast. He's just not the right guy. We need a leader ready to embrace the reality of our situation, ready for the Sisyphean labor of leading radio marketing into the 21st century.<br /><br />Need some cold hard facts in evidence? One need look no further than what Haley has not done on social media, a subject he seems to enjoy talking about. His Twitter account became active immediately before his scheduled appearance at the leading-edge 140 Characters Conference in New York. At this writing, his account (@haleymedia)has no pic, no profile, no link and not one single tweet. It's been that way for a long while. Sorry, Mr Haley, the fish stinks at the head first. As my Texas pals would say, you sir, are "All hat and no cattle."<br /><br />P.S. This week the President of Russia got on Twitter and he's already embarrassed Haley, (and the RAB), he's not only talking, he's actually tweeting. He's joined the conversation. The one that Haley apparently fails to grasp.David Martinhttp://davemartin.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-3406438944314676533.post-40223916888084796482010-06-21T14:30:26.817-04:002010-06-21T14:30:26.817-04:00How difficult is it to start a radio station in a ...How difficult is it to start a radio station in a small town? We have one main station. The owner carries Rush Limbaugh & other unenlightened programming. The isolated, ignorant people in town think the Russians, Chinese, North Koreans, and Arabs are going to attack any day now. Thanks, radio station owner.Anonymousnoreply@blogger.com