David Oxenford has published his annual Broadcaster's Calendar. Click: HERE for a copy.
George
Media Services Group
Wednesday, January 9, 2013
Wednesday, January 2, 2013
Sad news from Art Camiolo:
Our good friend, Dick Sharpe passed away yesterday.
Information on services is available at Weigand Brothers Funeral Directors, 519-746-4484.
Visitation is Thursday and Friday and funeral is on Saturday.
RIP Dick. We'll miss you.
Thursday, December 27, 2012
Erwin Krasnow, partner at Garvey Schubert Barer, each year publishes his collection of "Holiday Humor." And this year is no exception. So take a moment to click the link below and enjoy Erwin's contribution to a few good laughs, or as he puts it, a "Gong Show without a Gong."
Click: Holiday Humor (Note that previous years' editions are available from the same site)
Thanks, Erwin. And Happy New Year,
George
Click: Holiday Humor (Note that previous years' editions are available from the same site)
Thanks, Erwin. And Happy New Year,
George
Tuesday, December 18, 2012
Court-ordered sale (WHNR-AM)
NOTICE OF SHERIFF’S SALE -- Note the revised date!!
Sale of stock of GB Enterprises Communication Corporation (which would involve the acquisition of licenses from the Federal Communications Commission to operate WHNR-AM, Winter Haven, FL) to the highest and best bidder for cash on hand at the time of sale.
January 24, 2013 at 11:00am.
455 N. Broadway Ave.
Bartow, FL 33830
Circuit Court of Polk County, Florida
Case No. 2009CA005214
George R. Reed, Receiver
c/o Media Services Group
149 Roscoe Blvd. South
Ponte Vedra, FL 32082
(904) 285-3239
george@mediaservicesgroup.com
Sale of stock of GB Enterprises Communication Corporation (which would involve the acquisition of licenses from the Federal Communications Commission to operate WHNR-AM, Winter Haven, FL) to the highest and best bidder for cash on hand at the time of sale.
January 24, 2013 at 11:00am.
455 N. Broadway Ave.
Bartow, FL 33830
Circuit Court of Polk County, Florida
Case No. 2009CA005214
George R. Reed, Receiver
c/o Media Services Group
149 Roscoe Blvd. South
Ponte Vedra, FL 32082
(904) 285-3239
george@mediaservicesgroup.com
Thursday, June 14, 2012
Station trading continues to pick up steam. On the radio side, BIA reports that station sales were up significantly in May over the same time last year. Click HERE
Broadcast cash flow multiples appear to be holding steady in the 7x to 8x range (with occasional deals both above and below).
If you are looking for a good "first acquisition," we have just put a 3-FM cluster on the market in southeast Georgia:
• Dominant competitive position
• $128,000 in cash flow last year from only two stations; the third station went on the air this year
• Owner will consider selling financing and will consult following the closing
• Asking price: $1,400,000
Let me know if you would like to take a closer look.
George
Media Services Group
Broadcast cash flow multiples appear to be holding steady in the 7x to 8x range (with occasional deals both above and below).
If you are looking for a good "first acquisition," we have just put a 3-FM cluster on the market in southeast Georgia:
• Dominant competitive position
• $128,000 in cash flow last year from only two stations; the third station went on the air this year
• Owner will consider selling financing and will consult following the closing
• Asking price: $1,400,000
Let me know if you would like to take a closer look.
George
Media Services Group
Thursday, June 7, 2012
Media Services Group closes sale of WAYJ (FM), Ft. Myers, FL
Classical South Florida Inc. has completed the acquisition of the assets of radio station WAYJ (FM), licensed to Ft. Myers, FL from WAY-FM Media, Inc. for $4.35 million.
“WAY-FM started in Fort Myers back in 1987,” said Bob Augsburg, founder and president of WAY Media. “Southwest Florida is still very strategic for us, and we’re simply moving a short way up the dial. Most listeners will hear us on 89.5FM, while those in Charlotte County will be able to tune us in at 100.5FM. We’re excited about this switch, which will allow WAY Media to launch a suite of new digital initiatives”
“We’re tremendously excited to have the opportunity to bring classical music back to the Southwest Florida airwaves,” said CSF president and general manager Douglas C. Evans. “Classical South Florida was launched in Southeast Florida in the fall of 2007, and its programming can be heard from the upper Keys to the Palm Beaches and Treasure Coast, and now in southwest Florida from Fort Myers to Naples and Marco Island.”
The new call letters of the station are WNPS.
Eddie Esserman of Media Services Group was the exclusive broker and represented WAY-FM Media.
“WAY-FM started in Fort Myers back in 1987,” said Bob Augsburg, founder and president of WAY Media. “Southwest Florida is still very strategic for us, and we’re simply moving a short way up the dial. Most listeners will hear us on 89.5FM, while those in Charlotte County will be able to tune us in at 100.5FM. We’re excited about this switch, which will allow WAY Media to launch a suite of new digital initiatives”
“We’re tremendously excited to have the opportunity to bring classical music back to the Southwest Florida airwaves,” said CSF president and general manager Douglas C. Evans. “Classical South Florida was launched in Southeast Florida in the fall of 2007, and its programming can be heard from the upper Keys to the Palm Beaches and Treasure Coast, and now in southwest Florida from Fort Myers to Naples and Marco Island.”
The new call letters of the station are WNPS.
Eddie Esserman of Media Services Group was the exclusive broker and represented WAY-FM Media.
Thursday, May 10, 2012
Looking for your first radio station acquisition?
As station trading activity has picked up, we have developed a good inventory of small market stations and clusters in the southeast. Several of these are ideal “first stations” for a prospective buyer looking to get into radio station ownership.
Station prices are at the most affordable level in decades. Seller financing is back in vogue. And business overall appears to be picking up.
Though are larger deals are still on a “call for information” confidential status, here are some opportunities targeted toward budding entrepreneurs:
Alabama
• FM and AM with translators.
Georgia
• FM in coastal market. Includes real estate.
• FM and AM with positive cash flow.
• Three FMs.
North Carolina
• FM and AM in resort market.
• FM in coastal market with positive cash flow.
• Bargain priced FM in small market.
Puerto Rico
• AM in coastal resort market.
• FM in the west.
West Virginia
• Two FMs and Two AMs in growing market.
If you have sufficient equity for a down payment and working capital, please email your interest(s) to me and I will send the appropriate Non-disclosure agreement. For other areas in the country, check out our Classifieds page.
George
Media Services Group
Station prices are at the most affordable level in decades. Seller financing is back in vogue. And business overall appears to be picking up.
Though are larger deals are still on a “call for information” confidential status, here are some opportunities targeted toward budding entrepreneurs:
Alabama
• FM and AM with translators.
Georgia
• FM in coastal market. Includes real estate.
• FM and AM with positive cash flow.
• Three FMs.
North Carolina
• FM and AM in resort market.
• FM in coastal market with positive cash flow.
• Bargain priced FM in small market.
Puerto Rico
• AM in coastal resort market.
• FM in the west.
West Virginia
• Two FMs and Two AMs in growing market.
If you have sufficient equity for a down payment and working capital, please email your interest(s) to me and I will send the appropriate Non-disclosure agreement. For other areas in the country, check out our Classifieds page.
George
Media Services Group
Thursday, May 3, 2012
A broker looks back at the NAB Show
First, it is probably appropriate to explain the NAB Show from a broker's perspective, or at least from a Media Services Group broker's perspective. In actuality, we see very little of the convention. Our time is spent in our suite in non-stop meetings with station buyers, sellers, lenders, and investors. And since MSG is a national firm, we meet with clients and customers from all over the country. The week gives us an excellent perspective on the state of the industry, station trading, and station values.
This year's show was without question the most upbeat since the economy hit the fan during the Austin Radio Show, in fall 2008. Sentiment about the economy was better, and financial performance at the stations has improved, with many operators expecting their second "up" year in a row.
Our suite was busy, with at times twenty or more people huddled together in simultaneous meetings. Deal flow has increased and the quality of inventory appears to be getting better. Most of the deals we completed last year were in small markets or involved workouts and bankruptcies; this year we are getting deals done in good, cash flowing clusters.
So why are things better? I've identified three factors:
1) As mentioned above, business at home is better. Most stations are running ahead of year-ago numbers and pacings are good.
2) Lenders are coming back. Not in droves, but they are at least beginning to write some new broadcast loans.
3) The Bid/Ask spread has narrowed. Sellers have come to grips with the price reset, and buyers are realizing that we are off the low with the trajectory decidedly up.
Our opinion on radio multiples is that stations are trading between 7.0x and 8.0x Broadcast Cash Flow, with "beach front" property in the mid-8s. We now have enough data points to view this range with a high degree of certainty. No doubt there could be some outlier deals on either side, but most transactions are in this ballpark.
There is every reason to expect a robust Radio Show in Dallas in the fall. I hope you join us there.
George
Media Services Group
Sunday, April 15, 2012
We're in the Encore Tower
Media Services Group is at the NAB Show in Las Vegas. Our suite is in the Encore Tower, 60th floor, # E-6006. Please stop by and see us.
George
Friday, April 6, 2012
Let's talk in Las Vegas
The NAB Show is upon us. Media Services Group will have a suite at the Encore. Please get in touch to set up a confidential appointment to discuss station valuation, buying, selling, or financing.
I hope to see you at the Show,
I hope to see you at the Show,
George
Monday, April 2, 2012
Congratulations to Media Services Group's Jody McCoy on the Bahakel/Woodward transaction!
March 30, 2012
Dubuque, Iowa/Charlotte, NC - Friday, March 30, 2012 – Beverly B. Poston, President and CEO, of Bahakel Communications, Inc., and Tom Yunt, President and CEO of Woodward Communications, Inc. (WCI), jointly announced the sale of Bahakel’s four station radio cluster in Waterloo/Cedar Falls, Iowa to WCI. Jody McCoy of Media Services Group acted as the exclusive broker for the transaction representing the seller.
Effective April 1st the addition of the Waterloo/Cedar Falls, Iowa 4-station group increases WCI’s broadcast holdings to 11 stations in the region with their other radio station cluster in the Green Bay, Appleton/Oshkosh, Wisconsin markets. Woodward Communications, Inc., headquartered in Dubuque, Iowa, has six operating divisions: daily newspaper, weekly publications, commercial printing, niche B-2-B magazines, radio and a full-service advertising agency.
In announcing their purchase of the Waterloo/Cedar Falls group Yunt said, “We are very excited to add these outstanding stations to the Woodward Radio Group (WRG) and our “dynamic employee-owned media company,” and we look forward to the opportunity of serving the greater Waterloo/Cedar Falls communities. The stations are well positioned with their heritage and formats and have a wonderful track record in serving their valued listeners and advertisers.”
Poston said that “it is with highly mixed emotions that we sell the stations but that the decision was made easier because of the quality company that Woodward is, the fact that it is employee-owned and their commitment to provide such excellent services to the various communities in which they operate.”
She further added “that we (Bahakel) recently purchased an additional television station in Montgomery, AL, as well as an additional radio station for our Chattanooga cluster so this was done as some realignment of our properties. We leave Waterloo very reluctantly but comforted in knowing that our stations and employees will be in such wonderful hands.”
Bahakel also owns and operates six radio stations in Colorado Springs, CO and Chattanooga, TN and six television stations in Montgomery, AL (two stations); Jackson, TN; Columbia, SC, Myrtle Beach/Florence, SC, and their flagship station, WCCB-TV in Charlotte, NC.
Contact for Bahakel Communications, Ltd is Jim Babb (704-632-7217).
Jody McCoy
719.630.3111
George
Media Services Group
Dubuque, Iowa/Charlotte, NC - Friday, March 30, 2012 – Beverly B. Poston, President and CEO, of Bahakel Communications, Inc., and Tom Yunt, President and CEO of Woodward Communications, Inc. (WCI), jointly announced the sale of Bahakel’s four station radio cluster in Waterloo/Cedar Falls, Iowa to WCI. Jody McCoy of Media Services Group acted as the exclusive broker for the transaction representing the seller.
Effective April 1st the addition of the Waterloo/Cedar Falls, Iowa 4-station group increases WCI’s broadcast holdings to 11 stations in the region with their other radio station cluster in the Green Bay, Appleton/Oshkosh, Wisconsin markets. Woodward Communications, Inc., headquartered in Dubuque, Iowa, has six operating divisions: daily newspaper, weekly publications, commercial printing, niche B-2-B magazines, radio and a full-service advertising agency.
In announcing their purchase of the Waterloo/Cedar Falls group Yunt said, “We are very excited to add these outstanding stations to the Woodward Radio Group (WRG) and our “dynamic employee-owned media company,” and we look forward to the opportunity of serving the greater Waterloo/Cedar Falls communities. The stations are well positioned with their heritage and formats and have a wonderful track record in serving their valued listeners and advertisers.”
Poston said that “it is with highly mixed emotions that we sell the stations but that the decision was made easier because of the quality company that Woodward is, the fact that it is employee-owned and their commitment to provide such excellent services to the various communities in which they operate.”
She further added “that we (Bahakel) recently purchased an additional television station in Montgomery, AL, as well as an additional radio station for our Chattanooga cluster so this was done as some realignment of our properties. We leave Waterloo very reluctantly but comforted in knowing that our stations and employees will be in such wonderful hands.”
Bahakel also owns and operates six radio stations in Colorado Springs, CO and Chattanooga, TN and six television stations in Montgomery, AL (two stations); Jackson, TN; Columbia, SC, Myrtle Beach/Florence, SC, and their flagship station, WCCB-TV in Charlotte, NC.
Contact for Bahakel Communications, Ltd is Jim Babb (704-632-7217).
Jody McCoy
719.630.3111
George
Media Services Group
Monday, November 28, 2011
What does CBS’s Washington deal mean for station pricing. . . Outlier or Reset?
The recent announcement of CBS Radio’s purchase of WFSI-FM (Annapolis, MD) has caused quite a stir in the station trading community. Much of the talk centers on price: not how MUCH they paid, but how LITTLE!
On face value, it at first appeared that CBS has acquired a class B, 50,000 watt, Washington, DC FM station from Family Radio for $8.5 million, or $1.69 a pop (using the 60 dBu contour). Have station prices been radically reset to the downside with this deal?
The previous low-water mark was the WQXR-FM sale in New York a couple of years ago; it came in around $3 a head.
Our very own Stephan Sloan (MSG, Providence, RI) took a closer look and brought to light some factors which suggest that this deal might be an outlier.
WFSI, despite its huge pop count (around 5,000,000 people) is something of a “tween-er" to both the Baltimore and the DC markets. It is particularly a “rim shot” station in DC, where it reaches only 54% of the Arbitron metro population. It does somewhat better in Baltimore (82.5%) but is still not a full-market signal.
We think it appropriate to value the station on its DC-only coverage. Doing so yields a value of $3.08 per pop. Still, Dan Mason and his gang at CBS made an extraordinary “buy” with this station.
George
Media Services Group
On face value, it at first appeared that CBS has acquired a class B, 50,000 watt, Washington, DC FM station from Family Radio for $8.5 million, or $1.69 a pop (using the 60 dBu contour). Have station prices been radically reset to the downside with this deal?
The previous low-water mark was the WQXR-FM sale in New York a couple of years ago; it came in around $3 a head.
Our very own Stephan Sloan (MSG, Providence, RI) took a closer look and brought to light some factors which suggest that this deal might be an outlier.
WFSI, despite its huge pop count (around 5,000,000 people) is something of a “tween-er" to both the Baltimore and the DC markets. It is particularly a “rim shot” station in DC, where it reaches only 54% of the Arbitron metro population. It does somewhat better in Baltimore (82.5%) but is still not a full-market signal.
We think it appropriate to value the station on its DC-only coverage. Doing so yields a value of $3.08 per pop. Still, Dan Mason and his gang at CBS made an extraordinary “buy” with this station.
George
Media Services Group
Wednesday, November 23, 2011
Bill Gilreath joins Media Services Group on the west coast
Bill Gilreath has joined Media Services Group as an Associate with Tom McKinley. “I have had the pleasure to work with Bill in different capacities over the past 30 years,” said Tom McKinley, who opened the Company’s West Coast office in 1996. “His experience and knowledge will enable us to continue to provide West Coast broadcasters the level of service that Media Services Group has been known for since its inception in 1990.”
Bill brings 35 years of broadcasting experience and an in-depth knowledge of the West Coast from his years in station management. Previous General Manager positions include:
He spent 15 years in sales management with:
Additional management experience includes stints at Major Market Radio, Los Angeles, and VP Sales at Mutual Radio Network, Los Angeles.
You can reach him at:
Media Services Group
183 Sloat Avenue
Pacific Grove, CA 93950
Phone: 831.372.3667
Fax: 904.285.5618
bginmarin@aol.com
Welcome, Bill!
George
Media Services Group
Bill brings 35 years of broadcasting experience and an in-depth knowledge of the West Coast from his years in station management. Previous General Manager positions include:
- K-101 FM, KOFY/KAZA, San Francisco
- KVYN/KVON, Napa, CA
He spent 15 years in sales management with:
- KCBS San Francisco, Bay Cable (Comcast)
- Time Warner Media
- Catholic Radio Network, Los Angeles/San Francisco (as consultant)
Additional management experience includes stints at Major Market Radio, Los Angeles, and VP Sales at Mutual Radio Network, Los Angeles.
You can reach him at:
Media Services Group
183 Sloat Avenue
Pacific Grove, CA 93950
Phone: 831.372.3667
Fax: 904.285.5618
bginmarin@aol.com
Welcome, Bill!
George
Media Services Group
Tuesday, November 22, 2011
Radio station deals announced
We have recently announced several radio deals, a further indication of the improving station trading market:
Waterloo, IA
Beverly B. Poston, President and CEO, of Bahakel Communications, Inc., and Tom Yunt, President and CEO of Woodward Communications, Inc., jointly announced that Bahakel would sell their four station radio cluster in Waterloo, Iowa to Woodward Communications, Inc., subject to FCC approval.
Jody McCoy of our Colorado Springs office is the exclusive broker for the transaction and represents the seller.
The transfer of the licenses will increase Woodward’s broadcast holdings to 11 stations in the region with their other radio station cluster located in the Green Bay, Appleton/Oshkosh, Wisconsin markets. Woodward Communications, Inc., headquartered in Dubuque, Iowa, has six operating divisions: daily newspaper, weekly publications, commercial printing, niche magazines, radio and full-service advertising agencies.
In announcing their intent to purchase the Waterloo group, Yunt said “we are very excited about this opportunity to add these outstanding stations to our group and we look forward to the opportunity of serving the greater Waterloo/Cedar Falls communities. The stations are well positioned with their heritages and formats and have a wonderful track record in serving their listeners and advertisers.”
Greg Bell, Woodward’s Executive Vice President of Broadcasting, said “we are impressed with the staff as well as the facilities. We believe that there is very good upside potential and we look forward to working with the Waterloo team in growing with the market.”
Poston said that “it is with highly mixed emotions that we have decided to sell the stations but that the decision was made easier because of the quality company that Woodward is, the fact that it is employee-owned and their commitment to provide such excellent services to the various communities in which they operate.”
She further added “that we (Bahakel) have recently purchased an additional television station in Montgomery, AL, as well as an additional radio station for our Chattanooga cluster so this is being done as some realignment of our properties. We leave Waterloo very reluctantly but are comforted in knowing that our stations and employees will be in such wonderful hands.”
Bahakel also owns and operates six radio stations in Colorado Springs, CO and Chattanooga, TN and six television stations in Montgomery, AL (two stations); Jackson, TN; Columbia, SC, Myrtle Beach/Florence, SC, and their flagship station, WCCB-TV in Charlotte, NC. The Press Release is HERE.
Wilmington, NC
Turning to the southeast, Davis Media LLC has entered into an asset purchase agreement to acquire the Sea-Comm cluster serving Wilmington, NC. The stations (all in North Carolina) include:
WBNE(FM), Wrightsville Beach
WLTT(FM), Bolvia
WSFM(FM), Carolina Beach
WNTB(AM), Topsail Beach
WUIN(FM), Oak Island
W240AS, Wilmington
An LMA started immediately.
Davis Media also owns stations serving Williamsburg, VA (WBQK-FM and WTYD-FM). The seller has no remaining broadcast interests.
According to Rick Jorgensen, owner of Sea-Comm, “After 46 years in the radio business, and almost 24 years in Wilmington, I have decided it is time to sail off into the sunset.”
The buyer, Tom Davis, adds, “Davis Media is delighted about sustaining the Sea-Comm heritage in Wilmington, as well as implementing our digital/radio model, Hometown Driver, which has produced double digit growth for two years and running. With Jake Russell as our local owner-operator, we look to replicate our pilot market in Williamsburg, Virginia, and Wilmington is the perfect market to continue the expansion of our model and radio's future as the driver of the local media company.”
I served as the exclusive broker in the transaction. The Press Release is HERE.
Big Island, HI
And jumping WAY west, Chaparral Broadcasting, Inc. has purchased out of bankruptcy court the assets of 3 Big Island, Hawaii radio stations for $350,000 (subject to FCC approval). Radio stations KHBC-FM and KIPA-AM are licensed to Hilo, Hawaii and KHWI-FM is licensed to Holualoa on the Kona side of the island. The stations were previously owned by Parrott Broadcasting Limited Partnership but were placed in Chapter 7 US Bankruptcy Court, District of Idaho with Gary Rainsdon of Twin Falls, Idaho appointed Trustee.
Media Services Group, Inc was appointed court-appointed broker and in auction Chaparral Broadcasting was the high bidder for the stations. All 3 stations are currently off the air. Chaparral Broadcasting president Jerry Lundquist owns stations in Idaho, Wyoming, and Montana as well as a station in Makawao (Maui),Hawaii.
My partners, Greg Merrill and Tom McKinley, represented the parties in the sale. The Press Release is HERE.
Last, but not least, best wishes to all for a safe Thanksgiving holiday!
George
Media Services Group
Waterloo, IA
Beverly B. Poston, President and CEO, of Bahakel Communications, Inc., and Tom Yunt, President and CEO of Woodward Communications, Inc., jointly announced that Bahakel would sell their four station radio cluster in Waterloo, Iowa to Woodward Communications, Inc., subject to FCC approval.
Jody McCoy of our Colorado Springs office is the exclusive broker for the transaction and represents the seller.
The transfer of the licenses will increase Woodward’s broadcast holdings to 11 stations in the region with their other radio station cluster located in the Green Bay, Appleton/Oshkosh, Wisconsin markets. Woodward Communications, Inc., headquartered in Dubuque, Iowa, has six operating divisions: daily newspaper, weekly publications, commercial printing, niche magazines, radio and full-service advertising agencies.
In announcing their intent to purchase the Waterloo group, Yunt said “we are very excited about this opportunity to add these outstanding stations to our group and we look forward to the opportunity of serving the greater Waterloo/Cedar Falls communities. The stations are well positioned with their heritages and formats and have a wonderful track record in serving their listeners and advertisers.”
Greg Bell, Woodward’s Executive Vice President of Broadcasting, said “we are impressed with the staff as well as the facilities. We believe that there is very good upside potential and we look forward to working with the Waterloo team in growing with the market.”
Poston said that “it is with highly mixed emotions that we have decided to sell the stations but that the decision was made easier because of the quality company that Woodward is, the fact that it is employee-owned and their commitment to provide such excellent services to the various communities in which they operate.”
She further added “that we (Bahakel) have recently purchased an additional television station in Montgomery, AL, as well as an additional radio station for our Chattanooga cluster so this is being done as some realignment of our properties. We leave Waterloo very reluctantly but are comforted in knowing that our stations and employees will be in such wonderful hands.”
Bahakel also owns and operates six radio stations in Colorado Springs, CO and Chattanooga, TN and six television stations in Montgomery, AL (two stations); Jackson, TN; Columbia, SC, Myrtle Beach/Florence, SC, and their flagship station, WCCB-TV in Charlotte, NC. The Press Release is HERE.
Wilmington, NC
Turning to the southeast, Davis Media LLC has entered into an asset purchase agreement to acquire the Sea-Comm cluster serving Wilmington, NC. The stations (all in North Carolina) include:
WBNE(FM), Wrightsville Beach
WLTT(FM), Bolvia
WSFM(FM), Carolina Beach
WNTB(AM), Topsail Beach
WUIN(FM), Oak Island
W240AS, Wilmington
An LMA started immediately.
Davis Media also owns stations serving Williamsburg, VA (WBQK-FM and WTYD-FM). The seller has no remaining broadcast interests.
According to Rick Jorgensen, owner of Sea-Comm, “After 46 years in the radio business, and almost 24 years in Wilmington, I have decided it is time to sail off into the sunset.”
The buyer, Tom Davis, adds, “Davis Media is delighted about sustaining the Sea-Comm heritage in Wilmington, as well as implementing our digital/radio model, Hometown Driver, which has produced double digit growth for two years and running. With Jake Russell as our local owner-operator, we look to replicate our pilot market in Williamsburg, Virginia, and Wilmington is the perfect market to continue the expansion of our model and radio's future as the driver of the local media company.”
I served as the exclusive broker in the transaction. The Press Release is HERE.
Big Island, HI
And jumping WAY west, Chaparral Broadcasting, Inc. has purchased out of bankruptcy court the assets of 3 Big Island, Hawaii radio stations for $350,000 (subject to FCC approval). Radio stations KHBC-FM and KIPA-AM are licensed to Hilo, Hawaii and KHWI-FM is licensed to Holualoa on the Kona side of the island. The stations were previously owned by Parrott Broadcasting Limited Partnership but were placed in Chapter 7 US Bankruptcy Court, District of Idaho with Gary Rainsdon of Twin Falls, Idaho appointed Trustee.
Media Services Group, Inc was appointed court-appointed broker and in auction Chaparral Broadcasting was the high bidder for the stations. All 3 stations are currently off the air. Chaparral Broadcasting president Jerry Lundquist owns stations in Idaho, Wyoming, and Montana as well as a station in Makawao (Maui),Hawaii.
My partners, Greg Merrill and Tom McKinley, represented the parties in the sale. The Press Release is HERE.
Last, but not least, best wishes to all for a safe Thanksgiving holiday!
George
Media Services Group
Tuesday, November 15, 2011
Media Services Group announces purchase and sale of radio cluster in Wilmington, NC
We're pleased to announce that Davis Media LLC has entered into an asset purchase agreement to acquire the Sea-Comm radio cluster serving Wilmington, NC. The sale is subject to FCC approval.
The stations (all in North Carolina) include:
The stations (all in North Carolina) include:
WBNE(FM), Wrightsville Beach
WLTT(FM), Bolvia
WSFM(FM), Carolina Beach
WNTB(AM), Topsail Beach
WUIN(FM), Oak Island
W240AS, Wilmington
An LMA will start immediately.
Davis Media also owns stations serving Williamsburg, VA (WBQK-FM and WTYD-FM). The seller has no remaining broadcast interests.
I represented the seller in the transaction. More information is available HERE.
George
Media Services Group
Tuesday, August 30, 2011
Midwest rated market FM radio station cluster for sale
I am putting a new FM cluster on the market. The group has solid ratings and revenue between $2 million and $3 million. It is a confidential, exclusive listing. If you would like to receive and NDA, please get in touch. George@MediaServicesGroup.com
George
Media Services Group
George
Media Services Group
Monday, August 29, 2011
Media Services Group did more deals than anyone in the first half of 2011 (again)
The August 24 issue of SNL Kagan’s Broadcast Investor: Deals & Finance announced mid-year Broker Rankings. Media Services Group is back in our usual spot as the media broker which handled more transactions than any other (16 deals representing 30 stations), almost two-to-one over the firm next in line.
Media Services Group is a leading national media brokerage firm specializing in radio/TV stations, their digital assets, and communication towers. The firm has served broadcasters, broadcast investors, tower owners, and lenders for almost twenty-two years with professional brokerage, valuation, and workout consulting services. We close deals via our national footprint of ten offices with a regional focus.
If you would like to get together during the NAB Radio Show in Chicago, the Media Services Group suite will be at the Hyatt, Wednesday through Friday, September 14 -16. Get in touch to arrange a confidential meeting.George
Media Services Group
David Oxenford: Securing a Loan to a Broadcaster
David Oxenford has penned an informative post in Davis Wright Tremaine's "Broadcast Law Blog" on "Securing a Loan to a Broadcaster - Part 1 - FCC Case Clarifies How a Creditor Enforces Its Rights After a Default." This is good information for both lenders and borrowers; know the facts!
Click HERE
George
Media Services Group
Click HERE
George
Media Services Group
Friday, August 19, 2011
Wall Street's Wild Ride
A common discussion theme in recent weeks has been the impact of the ongoing stock market volatility/wealth destruction on station trading and values. While the gyrations have certainly exacted a psychological toll, I do not believe that they have hindered private market station trading and valuations. Yet.
At least so far, this has not been like Fall 2008, when the brakes were applied with full force. You will recall that at that time, there was some (genuine!) fear of a world-wide economic collapse. This time, the fear seems a little more future oriented (i.e. “we may still face major hurdles, but not this afternoon”). The bank weakness in Europe and the possible repercussions are bad, but not life-threatening. Likewise, the spending problem in Washington is curable once the politicians grow the backbone to actually deal with it.
I think the real and immediate fallout to broadcasters is the fear on Main Street created by this economic roller-coaster. Job cuts, taxes, over-regulation, and poor visibility are forcing companies to think twice before committing marketing budgets. The broadcasters have been pretty immune to these cuts so far, but that immunity will not last much longer.
Station trading, while up over the last two years, remains tepid. The banks are mostly hunkered down on the sidelines and the current turmoil may result in them staying there longer than they might have otherwise. That will most definitely hinder station trading and pricing. The deals that are currently getting done tend to fall into two broad categories: 1) Distress sales and 2) Seller financed small market transactions. Look for that trend to continue.
Our view on multiples continues to be in a range of 6x – 8x, with the few deals which are actually getting done falling in the mid-7s. If the chaos on Wall Street continues and the “double-dip recession” prospect increases, look for the multiples to drop. But it hasn’t happened yet.
Bottom line: the damage so far is mostly attitudinal (read “fear”). But if capital continues to vaporize, we’re in for a long, difficult second half. And as for visibility, we’re already flying on instruments. Main Street cannot and will not ignore Wall Street forever.
George
Media Services Group
At least so far, this has not been like Fall 2008, when the brakes were applied with full force. You will recall that at that time, there was some (genuine!) fear of a world-wide economic collapse. This time, the fear seems a little more future oriented (i.e. “we may still face major hurdles, but not this afternoon”). The bank weakness in Europe and the possible repercussions are bad, but not life-threatening. Likewise, the spending problem in Washington is curable once the politicians grow the backbone to actually deal with it.
I think the real and immediate fallout to broadcasters is the fear on Main Street created by this economic roller-coaster. Job cuts, taxes, over-regulation, and poor visibility are forcing companies to think twice before committing marketing budgets. The broadcasters have been pretty immune to these cuts so far, but that immunity will not last much longer.
Station trading, while up over the last two years, remains tepid. The banks are mostly hunkered down on the sidelines and the current turmoil may result in them staying there longer than they might have otherwise. That will most definitely hinder station trading and pricing. The deals that are currently getting done tend to fall into two broad categories: 1) Distress sales and 2) Seller financed small market transactions. Look for that trend to continue.
Our view on multiples continues to be in a range of 6x – 8x, with the few deals which are actually getting done falling in the mid-7s. If the chaos on Wall Street continues and the “double-dip recession” prospect increases, look for the multiples to drop. But it hasn’t happened yet.
Bottom line: the damage so far is mostly attitudinal (read “fear”). But if capital continues to vaporize, we’re in for a long, difficult second half. And as for visibility, we’re already flying on instruments. Main Street cannot and will not ignore Wall Street forever.
George
Media Services Group
Thursday, August 4, 2011
The late Rick Buckley as he was inducted into the NY State Broadcasters Hall of Fame
We lost a good broadcaster and a good guy when Rick Buckley passed away. He was inducted into the New York State Broadcasters Hall of Fame recently. Here is a video of the presentation and his remarks: Click HERE
The Broadcasters Foundation has established the Rick Buckley Memorial Fund. Click HERE for details.
George
Media Services Group
The Broadcasters Foundation has established the Rick Buckley Memorial Fund. Click HERE for details.
George
Media Services Group
Tuesday, August 2, 2011
Atlantic City cluster sale closes ($4.2 million)
Longport Media has completed the acquisition of the assets of radio stations WBSS-AM, WMGM-FM, WOND-AM, WTKU-FM, and WWAC-FM.
Tom McKinley and I represented the seller (Atlantic Broadcasting of Linwood NJ, LLC-Debtor in Possession).
George
Media Services Group
Tom McKinley and I represented the seller (Atlantic Broadcasting of Linwood NJ, LLC-Debtor in Possession).
George
Media Services Group
Thursday, July 21, 2011
A glimpse into the future of radio from the Keller Radio Talent Institute
I had the privilege last week of again addressing the students attending the Keller Radio Talent Institute at Appalachian State University in Boone, NC. This year marked my second appearance at the 10-day gathering which noted consultant Dan Vallie (Vallie-Richards-Donovan Consulting, pictured) put together in 2007. It is named for the late Art Keller of EZ Communications.
The Institute gathers 21 students from throughout North Carolina’s universities for intense schooling on radio sales, management, and operations.
While there, in addition to a long list of industry guest speakers, the students spend a day in Charlotte at the Time Warner Arena (home of the NBA Bobcats), the Bank of America Stadium (where the NFL Panthers play) the Charlotte Motor Speedway, and take the RAB’s Radio Marketing Professional certification course. Speakers this year included station owners Kerby Confer (Forever Broadcasting), Leonard Wheeler (Wheeler Broadcasting), and Henry Hinton (Inner Banks Media). The event is partially underwritten by the North Carolina Association of Broadcasters.
The students are attentive and engaged. They choose to spend almost two weeks in a radio cram course (when many of their peers are at the beach). Each is truly focused on landing a career in the radio industry. Former students have since gone to work for CBS, Beasley Broadcast Group, Clear Channel, Dick Broadcasting, Entercom, Curtis Media, Capitol Broadcasting, and others. Dan says that more than 70% of former students are now in broadcasting or a related field.
If you are asked to participate in the Institute in the future, please do it. And next time you see a resume from a participant, flag it for an interview. Kudos to the students, Dan, App State, NCAB, and the pros who volunteer their time to make it happen.
George
Media Services Group
The Institute gathers 21 students from throughout North Carolina’s universities for intense schooling on radio sales, management, and operations.
While there, in addition to a long list of industry guest speakers, the students spend a day in Charlotte at the Time Warner Arena (home of the NBA Bobcats), the Bank of America Stadium (where the NFL Panthers play) the Charlotte Motor Speedway, and take the RAB’s Radio Marketing Professional certification course. Speakers this year included station owners Kerby Confer (Forever Broadcasting), Leonard Wheeler (Wheeler Broadcasting), and Henry Hinton (Inner Banks Media). The event is partially underwritten by the North Carolina Association of Broadcasters.
The students are attentive and engaged. They choose to spend almost two weeks in a radio cram course (when many of their peers are at the beach). Each is truly focused on landing a career in the radio industry. Former students have since gone to work for CBS, Beasley Broadcast Group, Clear Channel, Dick Broadcasting, Entercom, Curtis Media, Capitol Broadcasting, and others. Dan says that more than 70% of former students are now in broadcasting or a related field.
If you are asked to participate in the Institute in the future, please do it. And next time you see a resume from a participant, flag it for an interview. Kudos to the students, Dan, App State, NCAB, and the pros who volunteer their time to make it happen.
George
Media Services Group
Thursday, July 14, 2011
Roanoke-Lynchburg construction permit sold
Mel Wheeler, Inc has agreed to purchase the WKCJ-FM construction permit licensed to Elliston-Lafayette, Virginia from Radio Greenbrier LLC. The buyer is headed by Leonard Wheeler, President. He has other radio and television interests in Virginia, Missouri and Illinois. The seller is headed by Todd Robinson who has other radio interests in West Virginia and Virginia. The purchase price is $675,000 (and is subject to FCC approval).
Bill Whitley of the Dallas office of Media Services Group represented the seller in this transaction. Congratulations to Todd, Leonard and Bill on getting this deal done!
George
Media Services Group
Bill Whitley of the Dallas office of Media Services Group represented the seller in this transaction. Congratulations to Todd, Leonard and Bill on getting this deal done!
George
Media Services Group
Monday, July 11, 2011
Media Services Group sells four Texas stations in bankruptcy deal
Bill Whitley (Media Services Group, Dallas) has completed a four station sale in a bankruptcy action. Randal Osherow, Bankruptcy Trustee, pursuant to an order of the United States Bankruptcy Court Western District of Texas, sold a four radio station cluster serving Fredericksburg, Texas to Norbert Fritz. Neither party has other broadcast interests. The purchase price is $700,000. The sale is subject to FCC approval.
The radio stations include:
KNAF-AM Fredericksburg
KNAF-FM Fredericksburg
KFAN-FM Johnson City
KEEP-FM Bandera
George
Media Services Group
The radio stations include:
KNAF-AM Fredericksburg
KNAF-FM Fredericksburg
KFAN-FM Johnson City
KEEP-FM Bandera
George
Media Services Group
Friday, July 8, 2011
Big FCC news out of the 3rd Circuit on media cross-ownership
A U.S. appeals court vacated an FCC rule relaxing limits on cross-ownership. The ruling marks the second time the appeals court has intervened in the commission’s attempts to relax media ownership rules.
Here's the story from Bloomberg: CLICK HERE
Have a great weekend,
George
Media Services Group
Here's the story from Bloomberg: CLICK HERE
Have a great weekend,
George
Media Services Group
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