Radio in 2009

[Dan.Strassberg]

I don't follow Salem's stock price, but the last time I saw it
reported--a couple of weeks ago, IIRC--it was at something like
$0.83/share. While that's low enough to raise the spectre of
de-listing from whichever exchange the stock trades on, it was WAY
higher than, say, Citadel, which I believe was trading in the mid
teens at the time. I think it was also higher than Entercom, which was
in the '40s, IMS. Now, Citadel could easily have five or more times as
many shares outstanding as Salem does, so the ratio of share prices
says nothing whatever about market cap. Still, I'd bet that Salem is a
lot less likely to have to take shelter in Chapter XI than Citadel is.
I suspect that Entercom is in better shape than Salem is, though.

-----
Dan Strassberg (dan.strassberg@att.net)
eFax 1-707-215-6367

----- Original Message ----- 
From: "Garrett Wollman" <wollman@bimajority.org>
To: "Bill O'Neill" <billohno@gmail.com>
Cc: "Boston Radio Interest"
<boston-radio-interest@rolinin.bostonradio.org>
Sent: Friday, December 12, 2008 2:51 PM
Subject: Radio in 2009


> <<On Fri, 12 Dec 2008 14:26:48 -0500, "Bill O'Neill"
> <billohno@gmail.com> said:
>
>> With all of the doom and gloom about the economy, or, as the
>> Illinois
>> governor would say, "With all of the bleeping &$^#  and @@#% over
>> the
>> bleeping econo-bleeping-my," what will Boston radio look/sound like
>> in
>> 12 months?  Fire sale prices?  Minimum wage board ops feeding
>> birds?
>
> Well, nationally, I'm looking for a number of group owners to enter
> bankruptcy.  This will create opportunities for the better-managed
> firms with access to private capital to acquire stations from
> companies like Salem at attractive prices.  CBS will still be in the
> radio business, and will still be trying to flog off its
> smaller-market properties.  GE will still not be in the radio
> business, but they might finally get a deal done with Ansin to buy
> channel 7.  I wouldn't be surprised to see Bonneville acquire more
> stations, perhaps getting back into New York if something comes on
> the
> market at a decent price.  (You could have all of Emmis for slightly
> less than $15 million today.  Act now!)
>
> -GAWollman
>