It's not WEEI vs. WCRB - it's WEEI *and* WCRB

[Laurence Glavin]

>----- Original Message -----
>From: "Dan.Strassberg" 
>To: "Bob Nelson" , "Jeff Lehmann" , boston-radio-interest@rolinin.bostonradio.org
>Subject: Re: It's not WEEI vs. WCRB - it's WEEI *and* WCRB
>Date: Fri, 17 Aug 2007 11:49:34 -0400

>$10 million for 50% of WCRB??? Considering that Entercom only recently
>paid $30 million for 100% of what is now WKAF, does that make ANY
>sense??? Sure WKAF is in Milton and WCRB is in Andover but 'CRB is a
>full B and 'KAF is an A--and, to my ears, not a very potent one. (WFNX
>appears to be a better Class A signal for covering the Boston market,
>although I have not investigated reception of 'FNX on the South Shore,
>where protections to Providence and--I believe--Cape Cod reduce the
>signal strength.) Also, what of the rumors that, when all the
>machinations between Charles River, Greater Media, and Nassau were
>done, 99.5 changed hands for ~$60 mllion, which seemed to make sense
>given that the price for 102.5 was reportedly (appropriately enough)
>~$102.5 million?
>Was $60 million a fiction, or could Nassau's sale of half of 'CRB for
>$10 million be termed a distress sale? And if $60 million for 99.5 IS
>a fiction, how does one explain $30 mllion for 97.7? I know that the
>current financial crisis has negatively affected station sale prices,
>but could it have knocked out 2/3 of WCRB's value in less than a year?
>Inquiring minds really, REALLY, _REALLY_ want to know!

One complicating factor in the Greater Media-to-Nassau handoff of 99.5 was
GM picking up a Trenton, NJ outlet that is subsequently moved closer to 
Philadelphia.  This may have resulted in Nassau getting FM channel 258 for
less of a cash payout than a mere perusal of the books would indicate (I 
recall that Garrett posted a summary of the transaction that would make Jim Cramer's
hair hurt...hair?)  About a year before Charles River unloaded WCRB at 102.5, 
bostonradiowatch.com indicated the station's revenues two-years prior to one-year
prior dropped nearly one-million dollars.  Someone posting to universalhub.com
after the story about Dennis and Callahan broke indicated that Nassau couldn't
line up any sponsors for the Concerts at Copley this year, and the concerts at the
Hatch Shell (subsequent to the 4TH of July extravaganza) were really under the aegis
of the Boston Landmarks Orchestra with WCRB along for the ride.


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