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WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Discussion pertaining to Grand Rapids, Kalamazoo, Muskegon, Battle Creek, Big Rapids, and Michiana
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RandJob
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WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by RandJob » Fri Feb 28, 2020 9:55 am

From All Access today: FURNITURE CITY BROADCASTING CORPORATION is selling Religion WFUR-F/GRAND RAPIDS, MI to BIBLE BROADCASTING , INC. for $2.75 million. The buyer is filing with the FCC to convert the station to noncommercial status.


In life when I have decisions to make I always think to myself, What Would Scott Hall Do?

Then I buy a bunch of cheap booze and drink myself to sleep.

A1B1C1D1
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by A1B1C1D1 » Fri Feb 28, 2020 10:16 am

I assume they kept the tower and lease revenue? Kuiper used to do mainstream Protestant publishing.

I think this group is out of Charlotte, I know they bought the old NPR in Cincy.



A1B1C1D1
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by A1B1C1D1 » Fri Feb 28, 2020 10:17 am

I assume they kept the tower and lease revenue? Kuiper used to do mainstream Protestant publishing.

I think this group is out of Charlotte, I know they bought the old NPR in Cincy.



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MWmetalhead
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by MWmetalhead » Fri Feb 28, 2020 11:09 am

AM 1570 and FM 92.9 are not included in the sale?


Caroline Beasley is ruining WRIF. What a bitch!!!

ChrisWL1980
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by ChrisWL1980 » Fri Feb 28, 2020 1:00 pm

Neither are WKPR-AM 1440/FM 105.1 Kalamazoo apparently. I suspect they and WFUR-AM/translator may still be up for sale regardless.

This surprises me. i always thought the Kuipers would hang on to their stations until the second coming and beyond.



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MWmetalhead
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by MWmetalhead » Fri Feb 28, 2020 6:19 pm

For anyone who dislikes the programming on 102.9 FM, just wait until the new format comes to town. "Awful" doesn't even begin to describe it. It features programming designed for a throwaway AM station or shortwave station.

You'll be begging for the current day WFUR-FM to come back!!!


Caroline Beasley is ruining WRIF. What a bitch!!!

ChrisWL1980
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by ChrisWL1980 » Fri Feb 28, 2020 8:29 pm

One thing is for sure, BBN makes the current WFUR-FM sound like heavy metal. Anyone within listening range of WYBA-FM 90.1 Coldwater/Battle Creek can tune in for a preview of what's to come.

I guess WFUR's addition of more contemporary music to its mix over the past decade or so hasn't succeeded in attracting more younger listeners to what has been a very old-skewing station for as far back as I can remember. They may be the CCM equivalent of 100.5 The River now, but it wasn't so long ago that they were formatted more like a Beautiful Music station. The CCM market in West Michigan, despite all the options available, continues to be "WCSG and everyone else."



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MWmetalhead
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by MWmetalhead » Sat Feb 29, 2020 7:18 am

It's evident the Kuiper Family was only interested in selling to a broadcaster who'd keep WFUR-FM a Christian station.

$2.75 million, assuming it's payable in full at closing, is a fair price for the Kuiper Family as sellers, assuming they will retain the tower site.

All one needs to do is look at recent sale transactions.

KFMB-AM & FM in San Diego (much larger and wealthier market) recently sold for $10 million total, and the buyer in that case gets the tower sites. 107.7 WPFX-FM in Bowling Green / Toledo just sold for $1 million, but 70% of that purchase price is being financed by the Seller on a multi-year note.

WDMK in Detroit sold for $13.5 million, which is at the high end of the comps range even after adjusting for population differences, but that station has a commercially successful format that probably generates $2 million in unlevered cash flow annually. I suspect WFUR AM & FM's cash flow is sitting near multi-decade record lows. I seldom come across any advertising while channel surfing. I think almost all of their income comes from selling blocks of air time and renting tower space.

A power bill for a 250 watt translator (92.9 FM) will be much easier to manage than for a 50,000 watt FM blowtorch.


Caroline Beasley is ruining WRIF. What a bitch!!!

ftballfan
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by ftballfan » Sat Feb 29, 2020 8:47 pm

BBN has bought up a few failed commercial stations in recent years, such as 99.9 on the south side of Chicago and the 93.7 between Lafayette and Baton Rouge in Louisiana



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