Here is a good resource for broadcast station owners and managers. The
2011 Broadcasters' Calendar is available from Pillsbury. Click HERE. Thanks to the Nevada Broadcasters for the heads up!
George
Media Services Group
Monday, December 20, 2010
Friday, December 17, 2010
Lew Dickey removed from Farid's Christmas card list
The news today that Citadel has rejected two offers from Lew's Cumulus Media certainly breaths some new life into what has been a very slow station trading year. It also represents the opening act to what will be a fascinating show.
Lew Dickey has plenty of fans as well as detractors. And I’m squarely in the camp of the former. Yes, he’s been a great customer over the years (he bought over a hundred stations through Media Services Group), but there is more to it than that.
Lew is a broadcaster. He was literally raised in the business. He has seen it from all sides (and is probably one of the best researchers ever to serve the industry -- pre-Cumulus). He knows how to run a radio station and is as comfortable doing so in Atlanta sized markets as he is in Savannah sized markets.
And he’s smart. Not just well educated (B.A. from Stanford and MBA from Harvard), but radio street-smart. If he succeeds in his effort to acquire Citadel, he will know what to do with it and how best to integrate the two very different cultures.
I believe that Lew has had his eye on Citadel for a long time. And now that it has emerged from bankruptcy court with a squeaky clean balance sheet, and station prices are at a decade’s low level, what better time?
Plus, Lew never took my stock in his company to zero.
The drama will be fun to watch. If Lew is successful, look for some new station acquisition opportunities in the new year. For one thing, the deal will likely require some spin-offs (in markets where both companies compete). For another, transactions like this have a way of fostering new, unrelated deals. They establish a pricing comparable. Potential buyers and sellers will pay close attention to the multiple on the deal.
Last but not least, Merry Christmas and Happy Holidays to all! Let’s have a prosperous 2011.
George
Media Services Group
Lew Dickey has plenty of fans as well as detractors. And I’m squarely in the camp of the former. Yes, he’s been a great customer over the years (he bought over a hundred stations through Media Services Group), but there is more to it than that.
Lew is a broadcaster. He was literally raised in the business. He has seen it from all sides (and is probably one of the best researchers ever to serve the industry -- pre-Cumulus). He knows how to run a radio station and is as comfortable doing so in Atlanta sized markets as he is in Savannah sized markets.
And he’s smart. Not just well educated (B.A. from Stanford and MBA from Harvard), but radio street-smart. If he succeeds in his effort to acquire Citadel, he will know what to do with it and how best to integrate the two very different cultures.
I believe that Lew has had his eye on Citadel for a long time. And now that it has emerged from bankruptcy court with a squeaky clean balance sheet, and station prices are at a decade’s low level, what better time?
Plus, Lew never took my stock in his company to zero.
The drama will be fun to watch. If Lew is successful, look for some new station acquisition opportunities in the new year. For one thing, the deal will likely require some spin-offs (in markets where both companies compete). For another, transactions like this have a way of fostering new, unrelated deals. They establish a pricing comparable. Potential buyers and sellers will pay close attention to the multiple on the deal.
Last but not least, Merry Christmas and Happy Holidays to all! Let’s have a prosperous 2011.
George
Media Services Group
Thursday, December 2, 2010
Two more transactions announced
Media Services Group has announced a couple of transactions. Though small deals, they provide evidence that the deal market is slowly but surely coming back to life.
1) Fort Wayne, IN Area FM Station Is Sold
Godwin-Starkes Property Management, LLC, an Indiana limited liability company has agreed to purchase the assets of WNUY-FM licensed to Bluffton, IN from Independence Media of Indiana, LLC, a Delaware limited liability company and IM IN Licenses, LLC, an Delaware limited liability company. Godwin-Starkes Property Management, LLC through an affiliated company, owns WQSW-LP Fort Wayne, IN.
The purchase price is $350,000.
Bob Heymann of the Chicago office of Media Services Group and Stephan Sloan of
Media Services Group’s Providence office served as the exclusive brokers representing the seller in this transaction.
2) Tennessee Temple University has agreed to purchase the assets of Radio Station WUUS (AM), licensed to Rossville, GA (serving Chattanooga, Tennessee), from 3 Daughters Media, Inc. for $175,000.
Eddie Esserman of Media Services Group’s St. Simons Island, GA, office represented Tennessee Temple University in this transaction.
Both transactions are subject to FCC approval.
Congratulations to Bob, Stephan and Eddie on getting deals done in a tough financing environment!
George
Media Services Group
1) Fort Wayne, IN Area FM Station Is Sold
Godwin-Starkes Property Management, LLC, an Indiana limited liability company has agreed to purchase the assets of WNUY-FM licensed to Bluffton, IN from Independence Media of Indiana, LLC, a Delaware limited liability company and IM IN Licenses, LLC, an Delaware limited liability company. Godwin-Starkes Property Management, LLC through an affiliated company, owns WQSW-LP Fort Wayne, IN.
The purchase price is $350,000.
Bob Heymann of the Chicago office of Media Services Group and Stephan Sloan of
Media Services Group’s Providence office served as the exclusive brokers representing the seller in this transaction.
2) Tennessee Temple University has agreed to purchase the assets of Radio Station WUUS (AM), licensed to Rossville, GA (serving Chattanooga, Tennessee), from 3 Daughters Media, Inc. for $175,000.
Eddie Esserman of Media Services Group’s St. Simons Island, GA, office represented Tennessee Temple University in this transaction.
Both transactions are subject to FCC approval.
Congratulations to Bob, Stephan and Eddie on getting deals done in a tough financing environment!
George
Media Services Group
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