The Clear (Channel) Truth

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And You Think The Winner Is....

WVRC - What The Failed Politician Wants, He Gets.
14
82%
Connoisseur - They Got The Cash, and BJ.
2
12%
Judy and Robbie - Judy Gets a Job, Robbie Gets Toys.
1
6%
 
Total votes: 17

Know It All
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The Clear (Channel) Truth

Post by Know It All » Wed Nov 22, 2006 8:06 am

This CC sale thing is giving Ms. Judy fits. Too many unknowns to be able to plan. Too many opportunities to get left out of the mix. Too many others upsetting her perfectly arranged apple cart. Wouldn't you know it, she has found herself firmly back in the mix.

Get a flow chart friends and foes, this one is a little complicated....

CC has three separate suitors actively pursuing the Huntington cluster, all of which go as a package. No need to sell radio stations like tools at a yard sale, sell 'em by the lot! Its easier. Clean the house, get rid of the excess.

A sale price of $40 million is actively bantered about and none of the three are flinching. They are digging deep, arranging financing and working to be the first kid in the neighborhood to get a shiny new bicycle this year.

As previously mentioned on the Board, WVRC is salivating at the possibilities and are as active as anyone else. "Pick me! Pick me!" That is Buxer's mantra these days. They want it - bad.

Connoisseur is firmly in the mix as well. The heavy hitter boys from Westport, flush with cash, see alot of potential in the market. Sure The River would have to go. In fact, it is on the market now. So what. In big business, that is a very easy trade off. If CM wins, this one will be a blast to watch. Visualize, if you will, the CC boys working for BJ? Talk about tension!

Each of these scenarios could leave Judy on the unemployment line. Soooo, why not make a stab at it yourself? Judy and Robby Vanhoose have talked about local ownership. Yeah, the price is steep, but look at the equity that Robby holds. He could make it happen if he wants to. The question is, does he want to? Judy wants him to. After all, General Manager for Life is a great gig! Vanhoose owning a gob of Tri-State radio isn't.
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genlock
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Post by genlock » Wed Nov 22, 2006 8:11 am

I can imagine soe discomfort in the ranks as well.
Sales, administration, operations and others could be affected no matter who buys the cluster.

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Post by Cameron » Wed Nov 22, 2006 8:59 am

$40 million? I'm hoping that's $40 million for every CC signal that touches the WV border. A smart buy for Huntington is half that or less.

2/3rds of that price would be pushing it.

The group's advertising sales are down $800,000 from their peak.
(Publicly-traded company has to post those numbers.)

The next owner will have to run them lean and mean for a long time or have a fire-sale.

The owner after that may be buying them from the lending institution.
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Re: The Clear (Channel) Truth

Post by cgarison » Wed Nov 22, 2006 9:00 am

Know It All wrote: Each of these scenarios could leave Judy on the unemployment line. Soooo, why not make a stab at it yourself? Judy and Robby Vanhoose have talked about local ownership. Yeah, the price is steep, but look at the equity that Robby holds. He could make it happen if he wants to. The question is, does he want to? Judy wants him to. After all, General Manager for Life is a great gig! Vanhoose owning a gob of Tri-State radio isn't.
Judy has a proven track record of running this radio cluster. The only fear that WVRC or Connoisseur would have is that she would have too much of the CC mentality in her blood from the last 6 years of reporting to them.

Personally, Judy has worked for enough different owners while being at this group of radio stations that I think she could adjust to just about any type management that is out there. Judy is politically entrenched in the community. Firing her would hurt the viability of the cluster.

And Vanhoose making a bid for this????? Good God that makes me glad that I spend 90% of my life in Philly.
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Hoosier Daddy
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Re: The Clear (Channel) Truth

Post by Hoosier Daddy » Wed Nov 22, 2006 9:41 am

cgarison wrote:Judy has a proven track record of running this radio cluster. <snip> Judy has worked for enough different owners while being at this group of radio stations that I think she could adjust to just about any type management that is out there. <snip> Judy is politically entrenched in the community. Firing her would hurt the viability of the cluster.
Remove "Judy", insert "Toufie Kassab", and it's deja va all over again.

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Post by Big Media » Wed Nov 22, 2006 10:50 am

I still hold out hope that WVRC buys the group and brings Big John down from M-town to program WTCR just to piss off Judy.

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Post by Tom Taggart » Wed Nov 22, 2006 3:07 pm

Rumor mill central pegs state wide price at 34 million--and that WVRC won't swallow that much.

We may not know until we know.....

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Post by klever » Wed Nov 22, 2006 3:19 pm

at 34 what is the multiple?

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Post by Hoosier Daddy » Wed Nov 22, 2006 8:23 pm

I still gotta believe the cluster will get split, perhaps with 1230/107.1 going a different way, or someone already in the market taking ONE of the big signals. The remainder could be scooped up by WV Radio Corporation, who I believe is first in line on any potential sale. It only makes sense for them to pick up the Huntington market.

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Post by The Interpreter » Wed Nov 22, 2006 8:48 pm

And I hate to be a wet dishrag, but I say CC will sell to whoever will pay the most money, in whatever fashion that happens. They couldn't care less if a large dog, WVRC or Kindred Communications is the buyer, or some combination thereof.

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Post by Hoosier Daddy » Wed Nov 22, 2006 8:59 pm

The Interpreter wrote:And I hate to be a wet dishrag, but I say CC will sell to whoever will pay the most money, in whatever fashion that happens. They couldn't care less if a large dog, WVRC or Kindred Communications is the buyer, or some combination thereof.
I agree, but I'm not sure if anyone wants/will pay for all of the stations together as a package deal.

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Post by Lester » Wed Nov 22, 2006 9:25 pm

I will.

(Someone got 40mil they can lend me?)

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Post by Hoosier Daddy » Wed Nov 22, 2006 9:35 pm

Lester wrote:I will.

(Someone got 40mil they can lend me?)
I'll go in half with you ...

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Post by Lester » Wed Nov 22, 2006 10:17 pm

Sweet!

(Who's got 20 mil they can lend me?)

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Post by sportsvoice » Wed Nov 22, 2006 10:29 pm

Lester wrote:Sweet!

(Who's got 20 mil they can lend me?)
Well, I know this guy, who knows this guy....what's his name...Vinny... :lol:

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Post by Tom Taggart » Thu Nov 23, 2006 9:45 am

whoa!

34 mil was the estimate for all three CC markets--Wheeling, Parkersburg, and Huntington.

Someone with time on their hands can go back and look at the prices paid for each station and add it up.

Also--Capitol Music Hall went to LiveNation, the CC spin-off of their concert business. Any new owner at Wheeling can and most likely move out of there to cheaper digs.

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Post by cgarison » Thu Nov 23, 2006 7:12 pm

Tom Taggart wrote:whoa!

34 mil was the estimate for all three CC markets--Wheeling, Parkersburg, and Huntington.

Someone with time on their hands can go back and look at the prices paid for each station and add it up.

Also--Capitol Music Hall went to LiveNation, the CC spin-off of their concert business. Any new owner at Wheeling can and most likely move out of there to cheaper digs.
Well, somebody get together a "real" price, and put together a business plan. This includes how to dump the deadwood from these clusters because I am know there are a bunch of AMs in Huntington that are not pulling their weight. Possibly even an FM or two. Also, you have to get a high level idea of staffing the operations as well so a list of who to keep and to let go is a must. In some cases, adding some staff might be a necessity. And yes Tom, moving to new locations would also have to be evaluated.

I know folks that have the money and might be convinced to go into a deal like this. We might have to nick name this thing "Mega Radio," but I could live with that.
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Post by Hoosier Daddy » Thu Nov 23, 2006 8:23 pm

Tom Taggart wrote:whoa! 34 mil was the estimate for all three CC markets--Wheeling, Parkersburg, and Huntington.
Now THAT sounds more realistic ... :wink:
cgarison wrote:This includes how to dump the deadwood from these clusters because I am know there are a bunch of AMs in Huntington that are not pulling their weight. Possibly even an FM or two.
Deadwood:

1230 WIRO
1600 WZZW
107.1 WBKS

Heavy Hitters:

800 WVHU
100.5 WKEE
103.3 WTCR
97.1 WBVB

Riding the fence:

1420 WTCR
106.3 WAMX

8)
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Post by Mike » Thu Nov 23, 2006 10:47 pm

No question, CC lite wants rid of our area. They sell to WVRC who has the money to buy.
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Post by Mike » Thu Nov 23, 2006 10:49 pm

Hoosier Daddy wrote:
Tom Taggart wrote:whoa! 34 mil was the estimate for all three CC markets--Wheeling, Parkersburg, and Huntington.
Now THAT sounds more realistic ... :wink:
cgarison wrote:This includes how to dump the deadwood from these clusters because I am know there are a bunch of AMs in Huntington that are not pulling their weight. Possibly even an FM or two.
Deadwood:

1230 WIRO
1600 WZZW
107.1 WBKS

Heavy Hitters:

800 WVHU
100.5 WKEE
103.3 WTCR
97.1 WBVB

Riding the fence:

1420 WTCR
106.3 WAMX

8)
I take offense at W I R O being deadwood, when it makes WVHU a winner by broadcasting it into the MOST AFFLUENT area (ie most advertiser friendly) zip codes in the Tri-State :)

Twelve Thirty W I R O.. The Big I!

WVHU is WIRO (WVHU) in terms of revenue :)
"Show me just what Muhammad brought that was new and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached"
-Manuel II Palaiologos
Byzantine Emperor (1391-1425)

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