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Re: NERW 5/28: WCAV Sold, WHQO Donated, and WMHQ Sold Again

- --- Scott D Fybush <fybush@world.std.com> wrote:
> *One of the nation's fastest-growing minority-owned broadcasters is
> entering MASSACHUSETTS.  From its base in Washington, D.C., Radio One
> has been branching out into markets such as Detroit and Cleveland.
> This week, it agreed to pay KJI Broadcasting $10 million for WCAV
> (97.7) in Brockton.  

Most of Radio One's broadcast cash flow(about 70%) comes from their
stations in Baltimore/DC area where they've been doing business since
A year ago, Pittsfield-based KJI paid $1.5 million for both WCAV
and WBET.


> Radio One, which is in the process of going public, probably won't
> stop buying in the Bay State just yet -- and NERW has to wonder if
> this is the owner the Nash estate would feel comfortable selling WILD
> to?  If not, the little urban daytimer could face its biggest threat
> yet.  This will be an interesting one to follow.

Radio One went public on May 6th. They raised $600 million
in the first day of trading. Part of the money raised from the
IPO is going to pay their growing debt($150 million).

> (As far as we know, sister station WBET (1460) will stay with KJI for
> the time being, although we'd be unsurprised to see a sale there as
> well eventually.)

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