WKLT-fm, Kalkaska and WKLZ-fm, Petoskey

[Deleted User 12047]

At any multiple (gross revenue, cash flow or other)this is a bargain. Midwestern will make this back fast. And they only have to put up $350000 in cash. Amazing. (Rumor is the studio is staying on Hastings TBD).

[TC Talks]

This kind of pales compared to the $14,000,000 asking price that was floated 10+ years ago, but that included the tower sites, all the signal, and revenue.

[NMCSpeaks]

The REAL news here is that Ross Biederman and Midwestern Broadcasting could not come up with a full one-third ($150,000.00) of the PURCHASE PRICE AND REQUIRED SELLER FINANCING TO BUY WKLT. Look for yourself.
I also heard that their “Radio Centre Building” mortgage with TC State Bank has been in arrears.
Townsquare Media, anyone?
It appears Ross broke the bank just to keep Mike Chires’ Black Diamond Broadcasting “at bay” and “out of town” in order to maintain the Midwestern “market leader” status quo.

[NMCSpeaks]

Correction. $100,000.00 Seller Financing instead of $150,000.00.

[TC Talks]

I also heard that their “Radio Centre Building” mortgage with TC State Bank has been in arrears.

Um, do you have any idea about the relationship between Midwestern Broadcasting and the owners of Radio Centre?

[ftballfan]

I also heard that their “Radio Centre Building” mortgage with TC State Bank has been in arrears.

Um, do you have any idea about the relationship between Midwestern Broadcasting and the owners of Radio Centre?

I'm not 100% sure, but I would imagine the Radio Centre building is owned by a REIT. Also, Traverse City State Bank is now Independent Bank

[Deleted User 12047]

Another possible scenario:
The $450k price that Radio-Insight cites is a baseline number. Perhaps there are revenue sharing provisions or other earn-out provisions that could significantly sweeten the deal for NBI.

I don't see any provisions of that in the asset purchase agreement.

https://licensing.fcc.gov/cdbs/CDBS_Att ... &exhcnum=1

However it does seem that WKLZ has also been sold.

ADDITIONALLY, APPLICATIONS FOR CONSENT TO ASSIGNMENT OF THE LICENSES FOR WKLT AND WKLZ-FM ARE EXPECTED TO BE FILED EITHER CONCURRENTLY HEREWITH OR IN THE IMMEDIATE FUTURE.

[Milk]

https://www.traverseticker.com/news/on- ... m-is-sold/

[cckadlec]

Just to throw in some extra information: 88.7 WIAA is silent.

But, some research shows this is only temporary, unlike all the other silencings.

From their website:

WIAA-88.7 FM is off the air

We are currently off the air on WIAA-88.7 while we investigate a transmission issue and do not expect the problem to be fixed for a couple more days, at the earliest. You can tune in to one of our other frequencies if you are in range of 88.5 FM or 94.7 FM. Additionally you can listen online or download our free mobile app. Thank you for your patience as we work to remedy this issue.

[Deleted User 12047]

I'll just leave this here...

https://www.mibuzzboard.com/phpBB3/view ... 57#p589457

Yes, we have not heaped enough praise and admiration on you, MW, for the very correct prediction.

[RadioNM88]

What is airing on 98.9 FM right now? Did it switch to K-Love, or is the station off the air for the moment?

What is airing on 98.9 FM right now? Did it switch to K-Love, or is the station off the air for the moment?

It is currently silent as of Feb 28, 2020. Haven't heard anything of when it is coming back as K-Love. Lots of NM Radio changes the last couple of weeks though mainly due to Northern Radio.