KMCQ - First Broadcasting - OOPS

[Goldilocks94941]

Ummm - yes I am.  And, ummm, funny how it's more musically satisfying than the hyper-researched playlists of KVI or KJR-fm, and a hundred other stations with the same limited selection coast to coast.  You can dismiss it all you want, and it sure isn't a "full service" format - but then few stations are anymore than juke boxes with commercials and a bunch of "positioning statements" over and over again, delivered in voices that very closely resemble the retarded adult with tourette's syndrome who lives across the street from me and vocalizes in his darth vader voice all day long. (I'm not joking.) 

For the reasons that a silly little bankrupt station with a big mp3 player, such as KMCQ, finds a way to present a more artful form of "radio" than many others -- despite its economic problems, and why the radio industry is so damned predictable -- like that's supposed to be a good thing, I suggest we start another thread or two. 

[radioplayer]

It's the full meal deal:  The Public Sale will include a transition agreement with First Broadcasting for First to file a request with the FCC to transfer the licenses of the three stations.

Somebody will get a deal tomorrow.

Thanks Bill.  Nice to be confirmed by someone who knows what they are talking about on this panel.   What we ought to talk about next is WHO might be in a real position to take on a bid for this thing....I believe that the local bidders (besides Bill and I who have already contributed our food stamp coupons to the cause)

Will be:

Bonneville + Entercom, as both seemingly have the $$ and could try and get one for themselves as an add to their clusters.  

I would like to think Sandusky might get into this game as the $$ amount would be in their ballpark and they could walk away with something for cheap...particularly if the other 2 mentioned aren't serious or are no shows at the gavel event.  

All I can say is enjoy your oldies on this turkey while you can.....hopefully the great playlist that Bong has on the other post will get it's airtime on the Q before the format blows up.....!  

[TVradioguru]

I was speaking with a communications lawyer yesterday about this matter.  The Lawyer, who will remain anonymous for obvious reasons, was working with a potential suitor, not only now but previously.

He said that even though this is essentially an asset sale, the investors want at a minimum, the investment in legal and other fees back before even considering relinquishing the license.  That means a pretty steep reserve.  Apparently the physical assets could be sold to pay back certain debt related to what is owed on the assets, leaving the license silent for up to a year.  That would mean whoever were to be assigned the license, would have to rebuild the facilities after renegotiating leases, etc.

Unless a group owner comes along with quite a bit of cash in hand, I suspect this operation will be tied up in red tape and multiple lawyers for quite a while.       

[dunno]

So it the full meal deal that we litle morons didn't understand?

Thanks for putting us in our place.

Back to my stupid question, or better yet, how much after all
the smoke and BS clears will this thing cost.

My best guess 13-20 million.  One other has thrown out a number of  5,
which in my tiny, tiny little minion mind would be a frickin steal!!!


Even though the rest of you have no idea of what the #### you're talking, except Bill, dam the torpedo man and throw your bid out here.

[Bongwater]

So it the full meal deal that we litle morons didn't understand?

Thanks for putting us in our place.

Back to my stupid question, or better yet, how much after all
the smoke and BS clears will this thing cost.

My best guess 13-20 million.  One other has thrown out a number of  5,
which in my tiny, tiny little minion mind would be a frickin steal!!!


Even though the rest of you have no idea of what the #### you're talking, except Bill, dam the torpedo man and throw your bid out here.

You can only have something on sale for so long before you begin to either resign to being stuck with it (not an option for First Broadcasting), OR have an EVERYTHING MUST GO! sale.

Does eBay allow for the sale of full blown radio stations anymore? (Not cheapo Chinese FM transmitters, but actual licensed radio stations?)........

My bid is $4.20....... 

[LITTLEBOYBLUE]

My bid is $4.20....... 

Put it back in your pocket.  I'm already in @ $420.

[scott salvatori]

but, seriously fellers........if scott takes his saved up paper route money(500.00),and sells his old dodge pick up(800.00). if bongwater takes his saved up dennys dishwasher job money(4.20), and sells his old ford pinto(4.20). if mr blue takes his saved up wall mart night stocker job money(420.00), and sells his old toyota corolla(200.00), and we combine it, we can make a bid on this, and make it work...... 

first thing we need to do is form a corporation.  hows bout this:  blue, water& scott broadcasting inc.  actually i want my name first..so its scott, blue, and water inc, since i have more experience broadcasting (on my CB radio).

we can format this into the "fun times and country, korean, and oldies mix station" in an effort to please all three business partners, okay? (although that positioning statement may be trademarked)

laugh it up ol boys....

[FMSteve]

Ok, now I'm REALLY confused. The winning bidder on the KMCQ auction is CapitalSource Financing, the lender associated with First Broadcasting.

http://www.radio-info.com/search/tagged_with?search=First+Broadcasting+Capital+Partners

This 8 year old fiasco has more twists and turns than an Olympic ice skater. Somebody's GOT to write a book on this someday.

 

[LITTLEBOYBLUE]

And note in the article that the licenses were NOT involved in the auction.

So the whole auction was really just more Wall Street horseshit ... much like the Citadel game of "screw the shareholders ... pay off FaGreed ... and gut the stations ... and keep the owners in the game with less debt to deal with".  I keep asking Bank of America how I can get a loan like that but they're too busy hanging out on the links with Wall Street types to return my call.

I, for one, am hoping First ends up taking a serious bath on this whole thing.  The 8-year story you're talking about seems to be missing that "protagonist" for whom the reader has any sympathy.

[TheX-KXRX]

Well hell I will see your $420 and raise you $580 + 6 discount passes to AMC Movie Theaters and because I am a nice guy I will toss in your choice of X t-shirts.....

I have a pretty cool iPod to plug in over there