LR Telecasting Acquires KMYA-DT and KMYA-LP (Press Release)

Veteran Radio and Television broadcaster, William Pollack, of Memphis, TN, is expanding his television holdings, entering the Little Rock market, with his acquisition of KMYA-DT, Camden/Little Rock, and KMYA-LP, Sheridan/Little Rock. The acquiring company, LR Telecasting, is paying $2,750,000* to Seller, I Square Media, LLC.

Pollack also owns KLAX-TV and KWCE-LPTV in Alexandria, LA, and KIEM-TV, in Eureka, CA, as well as a cluster of radio stations in Kennett and Caruthersville, MO.  I Square Media has no other broadcast interests.

Exclusive broker of the transaction was Bill Cate, of Media Services Group. 

For more information: 

Bill Cate

501.727.5100

cate@mediaservicesgroup.com 

*Pending FCC Approval

Another FAQ: How long does the sale process take?

Q:  "How long does the station sale process take?"

A:  Often, preparing the due diligence information prior to the marketing of the station(s) is one of the most time-consuming steps of a sale.
Most station marketing agreements with media brokers call for a duration of six to eighteen months, with twelve months being typical.
Time on the market varies. Like real estate, stations that are priced more closely to their Fair Market Value tend to sell the quickest.

The FCC approval process generally takes 60-90 days, with the Staff approval becoming “final” in an additional 40 days.  Any objections can delay the process.

George
Media Services Group

Another FAQ: What is MSG’s online due diligence room?

Q:  "What is MSG’s online due diligence room?"

A:  MSG uses a password-protected, online, due diligence room. You will be provided with a username and password after signing the appropriate NDA.  ALL OF OUR TRANSACTIONS ARE CONFIDENTIAL unless notified to the contrary. No one at the client or station level is to be contacted without permission. Each site typically contains a Descriptive Memorandum as well as more detailed information on real estate, financial information, employees, etc.

George
Media Services Group

Preparing your radio or TV station for sale

"New carpet and fresh paint" may work in real estate transactions, but more is required to effectively sell radio and television stations.

We have prepared a white paper entitled, "Preparing Your Broadcast Property For Sale."  It is available (free of charge) for download by clicking HERE (email registration required).

I hope that you find it useful.

George
Media Services Group

Another FAQ: How do I get my station(s) ready for a sale?

Q:  "How do I get my station(s) ready for a sale?"

A:  It pays to get your house in order.  All buyers will need to review certain key documents at some point in the sale process. They tend to fall in these general categories:

• Contracts and leases
• Financial
• Real Estate
• Employees

Compile a list of all station contracts and leases (including tower leases, programming and talent agreements, maintenance, ratings, software, etc.).  Include start and end dates, monthly costs, and cancelation terms

Financial statements play a key role in the sale process; they are the foundation supporting the value of the business. They must be accurate and comprehensive.  Prepare a three year history of Income Statements. If non-operating expenses are contained in the expense line items, they should be identified for each year.

Summarize your real estate holdings in a spreadsheet (use, acreage, location, and property tax). Locate your most recent property tax bill and surveys.

Prepare an update employee list, including job title and compensation.

Review your Public File to ensure full FCC compliance.

George
Media Services Group