It breaks my heart to see these long wavelength signals disappearing when most of them had these beautiful Art Deco transmitter buildings with Greek Gods hurling lightning bolts in amazing murals inside the transmitter and studio buildings. Cumulus and Entercom both failed to learn how debt kills, every time. And they are taking the industry with them. I watched this disaster unfold as I sat on the board of the NAB when few listened to the independent operators. 560 AM should have been diplexed somewhere else to begin anew and heard up and down the West Coast of America. There is a path to success, not wild success like 40% margins of yesteryear, but success. Cumulus is yoked to their debt and unable to get back to street fighting.
Rob, I have to assume that Cumulus extracted all value from its 560 kHz signal in the Bay Area long ago. That is to say, I’ll bet they have already sold off the towers and the land they are on. Probably while searching the sofa cushions for spare change to make a debt payment. That’s also a big iHeart play. All that’s left if a station is sold is the license itself and maybe some studio equipment. Which means any new owner will be forced to lease the towers and studio space. And any new owner will also be at the mercy of whatever entity owns the towers and land. If that entity decides they can make more money by selling it all for development, the station could have an existential problem. Those are major factors that are probably making any sale a non-starter.
It breaks my heart to see these long wavelength signals disappearing when most of them had these beautiful Art Deco transmitter buildings with Greek Gods hurling lightning bolts in amazing murals inside the transmitter and studio buildings. Cumulus and Entercom both failed to learn how debt kills, every time. And they are taking the industry with them. I watched this disaster unfold as I sat on the board of the NAB when few listened to the independent operators. 560 AM should have been diplexed somewhere else to begin anew and heard up and down the West Coast of America. There is a path to success, not wild success like 40% margins of yesteryear, but success. Cumulus is yoked to their debt and unable to get back to street fighting.
They had a land lease at $25,000 per month. That alone was a disaster. OWN THE DIRT. - Andrew Skotdal, KRKO/KKXA
I am definitely going to read this at least one more time. Wow. Thank you, Rob.
Rob, I have to assume that Cumulus extracted all value from its 560 kHz signal in the Bay Area long ago. That is to say, I’ll bet they have already sold off the towers and the land they are on. Probably while searching the sofa cushions for spare change to make a debt payment. That’s also a big iHeart play. All that’s left if a station is sold is the license itself and maybe some studio equipment. Which means any new owner will be forced to lease the towers and studio space. And any new owner will also be at the mercy of whatever entity owns the towers and land. If that entity decides they can make more money by selling it all for development, the station could have an existential problem. Those are major factors that are probably making any sale a non-starter.