Clear Channel sells WV stations

Tom Taggart · Post by **Tom Taggart** » Wed May 02, 2007 8:03 pm

Repost from the "clear Channel sells 180 stations" thread.

The important link is here.

Which says that CC has reached firm agreements to sell all but 16 markets of the original group of small markets it said it would sell.

Those remaining unsold markets include Defiance, Ashland-Mansfield, Ashtabula, Ohio and Frankfort Ky, but not the WV markets.

Also note the abrupt closing by Live Nation of Capitol Music Hall. Announced to be for sale for $850,000 by WVPubRadio.

Bob Loblaw · Post by **Bob Loblaw** » Wed May 02, 2007 8:28 pm

Ashland/Mansfield, OH

One of the markets not being sold in this group

Arp2 · Post by **Arp2** » Wed May 02, 2007 9:09 pm

...a strange group of Ohio stations, given that so many apparently now-sold-to-someone-else CCU stations lie in between them. Why take whatever's left of Marion, Delaware, or Tiffin but not Mansfield? Why take Findlay or Lima but not Defiance?

I'm sure we'll find out soon, and, perhaps, the news will hold some pleasant surprises......

Tom Taggart · Post by **Tom Taggart** » Wed May 02, 2007 9:38 pm

Further research:

The formal name for Dean Goodman's company is "GoodRadio.tv LLC

a play off the website which is www.goodradio.tv (as in Tuvalu

). The website is under construction.

They are based in West Palm Beach, and have already purchased stations in Missouri and Iowa from other owners.

Still looks to be the leading contender, but we shall see.

In any event, we will probably be surprised, but not pleasantly.

Arp2 · Post by **Arp2** » Thu May 03, 2007 12:03 am

Tom Taggart wrote:In any event, we will probably be surprised, but not pleasantly.

Well, I was thinking in terms of more hometown owners, but, of course, that's just fun internet message board chat......

Lester · Post by **Lester** » Thu May 03, 2007 8:25 am

You never know. Dean is a 20 year radio guy (including Zeta in Miami). He later worked in some capacity for Paxson, and has decided to return to radio.

There is a potential for great things to happen from this.

I suspect we'll get some good information when he can talk about it... he being wlpatrick... who I hear was involved in the deal.

Cameron · Post by **Cameron** » Thu May 03, 2007 9:01 am

Lester wrote:You never know. Dean is a 20 year radio guy (including Zeta in Miami). He later worked in some capacity for Paxson, and has decided to return to radio.

There is a potential for great things to happen from this.

I suspect we'll get some good information when he can talk about it... he being wlpatrick... who I hear was involved in the deal.

Paxson had something like 43 stations in Florida at the height of their gobbling. Many of those were sold as ready-made groups to CC. The Orlando cluster was so big, that upon its sale to CC, Cox had the FCC "encourage" them spin-off several stations. "Real Radio 104.1" was one of the Paxson stations and was pretty damn good until CC got a hold of it and turned it into goo.

Arp2 · Post by **Arp2** » Fri May 04, 2007 2:14 am

Lester wrote:You never know. Dean is a 20 year radio guy (including Zeta in Miami).

I wonder if I ever bumped into him way back in the good ol' days of that station...

Well, wait...I need to clarify that...I was in there a couple of times after it had become CHR "I-95," not when it was originally "Zeta."

Wild thing about "Zeta" -- although not strong enough to....well, "I-95" seemed to have a lot more potential, I guess; but, although small(er), I suppose, that "Zeta" audience had such love and passion for the station that you'd see the "Zeta" license plates many, many, many years after the station was gone. People were approached in parking lots with offers for them, they were frequently-stolen items, and they were valuable flea market finds....and, again, I'm talking years later.

(I believe I have 2-4 stuck away somewhere

...I wonder if they still have value.....)

He later worked in some capacity for Paxson and has decided to return to radio.

It's very, very hard for me to think bad of any of the Paxson guys........on the other hand, there are certain differences and realities in the business now.....overall, count me optimistic.

Tom Taggart · Post by **Tom Taggart** » Sat May 05, 2007 2:09 pm

Usual progression in these station sales is that the staff is told Friday, the word leaks out to the press '[pearly the next week, and the app. for transfer is filed by the following Friday.

Dean Goodman has purchased some of the CC clusters: Rochester, Mn.; NW Arkansas (Ft. Smith) and Bangor/Augusta, Maine. These have been reported in the respective local media. His previous purchases, from non-CC companies, were in Missouri and Iowa, and those apps. to transfer have been filed. In the Missouri filing he is listed as 100% owner of what was called in the agreement "DeanRadio" and is listed in the app. as GoodRadio.TV LLC.

It has also been reported by local media that the Binghamton, NY, Somerset KY and Delmarva (Salisbury Md) CC cluster have been sold to unannounced owners.

There are a number of stories, including the CC press release, indicating a deal has been finalized for 180~200 stations, (the larger number may include 16 or so central Oregon stations announced as sold to Bi-coastal media). I find it strange that there has not been an announcement by now confirming GoodRadio as the buyer of these stations, nor any listing of markets sold under any such agreement. Which leads me to believe that there is no final agreement.

I also find it a little odd that the app. for transfers haven't been filed yet for those markets where sales have been announced. However, if they were filed on Friday, then they may not show up until Monday or Tuesday of next week.

Given the timing of the CC press release, just before the Clear Channel board meeting mid week, it may be that there really was no final agreement in place to sell these clusters. Perhaps this press release was premature, and issued with an eye towards convincing board members and stockholders to approve the proposal to take CCU private, based on the pool of money available from the sale for buyback of shares.

Of course, the CC board rejected the latest deal, and it appears the privatization proposal will be voted down this Tuesday at the stockholders meeting.

So it is entirely possible that Goodman is negotiating each market individually with CC. Hence, final agreement may not have been reached for the WV markets as of yet.

Cameron · Post by **Cameron** » Mon May 07, 2007 10:55 am

I wonder how the Huntington crew would react if they knew that Larry/Susan Patrick and former NAB President Eddie Fritts were some of their principal-investors and owners.

Only 16 markets remain to be sold from the mass of smaller market radio station clusters that Clear Channel put up for sale to thin its flock. By far the lion's share went to Dean Goodman's DeanRadio.TV, a company
that also involves former NAB CEO Eddie Fritts and veteran brokers Larry and Susan Patrick. We've now solved the mystery of the 36th market in Goodman's deal, which looks to be over 450 million bucks in all.
The deal that Clear Channel announced back in January to sell its two Gadsden, AL radio stations to local owner Coosa River Communications for three million did not go to closing and that market is now part of
the Goodman deal. The second biggest buyer in the auction managed by the brokers at Kalil & Co. was George Laughlin's new GAP Broadcasting, which bought 11 markets, mostly in Texas, for 139 million. So
far, Clear Channel has cut deals to sell 362 stations in 72 markets for 820 million bucks (plus two markets swapped to Cumulus). Here is our scorecard, based on the original list put out by Clear Channel.
Clear Channel Radio divestitures

Market name Arbitron Announced
Clear Channel market number Rank Buyer
Boise, ID - Market 203 108 Peak
Lancaster, PA - Market 393 113 DeanRadio.TV
Victorville, CA - Market 344 127
Reading, PA - Market 147 131 DeanRadio.TV
Shreveport, LA - Market 208 132 GAP
Burlington, VT - Market 337 136 DeanRadio.TV
Fayetteville, AR - Market 267 141 DeanRadio.TV
Salisbury, MD - Market 347 146 DeanRadio.TV
Ann Arbor, MI - Market 350 147 Cumulus (swap)
Tyler, TX - Market 288 149 GAP
Albany, OR - Market 230 150 Bi-Coastal
RBR's Daily Morning Epaper Page 1 of 4
Montgomery, AL - Market 300 151 DeanRadio.TV
Huntington, WV - Market 329 156 DeanRadio.TV
Rome/Utica, NY - Market 151 159
Poughkeepsie, NY - Market 339 162 DeanRadio.TV
Anchorage, AK - Market 248 172 DeanRadio.TV
San Luis Obispo, CA - Market 384 173
Lincoln, NE - Market 273 176 Three Eagles
Fort Smith, AR - Market 268 177 DeanRadio.TV
Binghamton, NY - Market 245 179 DeanRadio.TV
Lebanon, NH - Market 392 180 Great Eastern
Lubbock, TX - Market 284 182 GAP
Midland/Odessa TX - Market 286 188 GAP
Tupelo, MS - Market 379 189 Urban Comm.
Amarillo, TX - Market 277 195 GAP
Yakima, WA - Market 242 201
Tri-Cities, WA - Market 407 202
Duluth, MN - Market 424 204 Blue Point
Santa Barbara, CA - Market 186 207 Rincon
Medford, OR - Market 231 212 Bi-Coastal
Bangor, ME - Market 352 216 DeanRadio.TV
Fargo, ND - Market 361 223 Jim Ingstad
Laurel, MS - Market 381 227 DeanRadio.TV
Rochester, MN - Market 371 230 DeanRadio.TV
Charlottesville, VA - Market 174 231
Muskegon, MI - Market 375 232 DeanRadio.TV
Marion/Carbondale, IL - Market 380 235
Eau Claire, WI - Market 348 242 DeanRadio.TV
Abilene, TX - Market 360 243 GAP
Wheeling, WV - Market 330 247 DeanRadio.TV
Lima, OH - Market 220 248 DeanRadio.TV
Parkersburg, WV - Market 410 249 DeanRadio.TV
Battle Creek, MI - Market 294 258 Cumulus (swap)
Billings, MT - Market 403 260 Blue Point
Wichita Falls, TX - Market 387 261 GAP
Texarkana, TX - Market 287 262 GAP
Augusta, ME - Market 377 266 DeanRadio.TV
Williamsport, PA - Market 159 269 DeanRadio.TV
Sioux City, IA - Market 395 272 DeanRadio.TV
Mankato, MN - Market 370 273 Three Eagles
Lawton, OK - Market 276 282 GAP
Cookeville, TN - Market 107 284 DeanRadio.TV
Bismarck, ND - Market 211 285 DeanRadio.TV
Grand Forks, ND - Market 244 287
Jonesboro, AR - Market 374 289 East Arkansas
Cheyenne, WY - Market 240 290 Blue Point
The Florida Keys, FL - Market 123 291
Mason City, IA - Market 372 292 Three Eagles
Meridian, MS - Market 408 295 Urban Comm.
Casper, WY - Market 239 297 Blue Point
Ashland/Mansfield, OH - Market 369 NR
Ashtabula, OH - Market 368 NR
Bozeman, MT - Market 404 NR Blue Point
Burlington, IA - Market 197 NR Blue Point
Centralia, WA - Market 237 NR
Chillicothe, OH - Market 214 NR DeanRadio.TV
Defiance, OH - Market 217 NR
Dickinson, ND - Market 363 NR
Fairbanks, AK - Market 249 NR DeanRadio.TV
Farmington, NM - Market 262 NR DeanRadio.TV
Findlay/Tiffin, OH - Market 218 NR DeanRadio.TV
Fort Dodge, IA - Market 200 NR Three Eagles
Frankfort, KY - Market 411 NR
Gadsden, AL - Market 298 NR DeanRadio.TV
Gallup, NM - Market 362 NR DeanRadio.TV
Laramie, WY - Market 420 NR Blue Point
Lufkin, TX - Market 285 NR GAP
Marion, OH - Market 222 NR DeanRadio.TV
Minot, ND - Market 246 NR DeanRadio.TV
Missoula, MT - Market 405 NR Blue Point
Ogallala, NE - Market 274 NR DeanRadio.TV
Pocatello, ID - Market 204 NR Blue Point
Randolph, VT - Market 390 NR DeanRadio.TV
Sandusky, OH - Market 223 NR DeanRadio.TV
Shelby, MT - Market 406 NR Blue Point
Somerset, KY - Market 391 NR DeanRadio.TV
Springfield, IL - Market 292 NR Neuhoff
Twin Falls, ID - Market 206 NR Blue Point
Victoria, TX - Market 289 NR GAP
Yuma, AZ - Market 260 NR

Source: Clear Channel Communications SEC filings, FCC filings and announcements

Brokers as owners - See Also "We're in it for the long-haul".

wlpatrick · Post by **wlpatrick** » Mon May 07, 2007 5:12 pm

The last post is correct as to the markets. The original company name was DeanRadio.TV but Dean Goodman will now use GoodRadio.TV for all of the stations. Dean is former GM of WLVE-FM in Miami that I purchased when I was COO of Gilmore Broadcasting back in the early 1980's. More recently, he was COO and President of ION Media Networks (formerly Paxson Communications) until his retirement in October, 2006. I was then and now Chairman of ION. (Side note--Dean also was best man at my wedding). Carl Hirsch and Eddie Fritts are part of the buying team but the real equity and ownership will be American Security Capital. The COO of the Company is George Pelletier, formerly with NRG Media and also a former GM for me years ago at my Sioux City stations.

Anyway, more details to follow. Stay tuned.

Zak Tyler · Post by **Zak Tyler** » Mon May 07, 2007 7:07 pm

ok, so... ya got any openings for a rock PD/morning show? I know this guy...

Dave Allen · Post by **Dave Allen** » Mon May 07, 2007 8:59 pm

..who knows this talented morning show dude in Southern WV....

Cameron · Post by **Cameron** » Mon May 07, 2007 9:15 pm

wlpatrick wrote: The COO of the Company is George Pelletier, formerly with NRG Media and also a former GM for me years ago at my Sioux City stations.

Anyway, more details to follow. Stay tuned.

...cue Bob Campbell in 3...2...1....

Bob Loblaw · Post by **Bob Loblaw** » Mon May 07, 2007 9:33 pm

wlpatrick wrote:The last post is correct as to the markets. The original company name was DeanRadio.TV but Dean Goodman will now use GoodRadio.TV for all of the stations. Dean is former GM of WLVE-FM in Miami that I purchased when I was COO of Gilmore Broadcasting back in the early 1980's. More recently, he was COO and President of ION Media Networks (formerly Paxson Communications) until his retirement in October, 2006. I was then and now Chairman of ION. (Side note--Dean also was best man at my wedding). Carl Hirsch and Eddie Fritts are part of the buying team but the real equity and ownership will be American Security Capital. The COO of the Company is George Pelletier, formerly with NRG Media and also a former GM for me years ago at my Sioux City stations.

Anyway, more details to follow. Stay tuned.

So, now that you own local Radio, will you stop posting on the board? Or will you keep the lines of communications open?

fearpeddler · Post by **fearpeddler** » Mon May 07, 2007 9:57 pm

yah I applied to work one time at what was formerly PAX in teays valley when i first got out of school.... They never called me back after the first interview, but I'm kinda glad they didnt.....

Bob Campbell · Post by **Bob Campbell** » Tue May 08, 2007 4:53 am

I don't get the Pelletier reference.
Funny that I did tell people at Legend in 2005 that CC would be out of Huntington in 2 years. Long story as to why I told them that.

Zak, you don't really want to leave Va Beach do you?

Dave Allen · Post by **Dave Allen** » Tue May 08, 2007 5:22 am

Sure he does. There's a whole lot of boobies in this big world of ours.

Mr. Jones · Post by **Mr. Jones** » Tue May 08, 2007 5:55 am

daveinthemorning wrote:Sure he does. There's a whole lot of boobies in this big world of ours.

Just because there are a lot of boobies doesn't mean they're good boobies.

Just saying.

Cameron · Post by **Cameron** » Tue May 08, 2007 5:59 am

Yeah...get your resumes in quickly, guys. I'm sure that Chillicothe, Parkersburg, and Wheeling will go on a full-time air talent hiring frenzy.
I'm seeing 40-50 full time on air and programming positions becoming available almost immediately so these stations can hyper serve their local listeners.