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Daily News from New York, New York • 100

Publication:
Daily Newsi
Location:
New York, New York
Issue Date:
Page:
100
Extracted Article Text (OCR)

WWW sSfflfingtoB By DAVID HINCKLEY DAJiy NEWS STAFT WRITER Less than a year after trying to ease its severe debt problems by killing country music on its four-station WYNY quadrocast at 107.1 FM, Big City Radio has put those stations up for sale. The company announced yesterday that it has hired a broker to auction off all 12 of its stations four around New York, five around Chicago, three near Los Angeles. The broker, Mark Jorgenson, says Big City wants to sell by the end of the year. This would please its stockholders and bondholders, who for several years have watched mounting debt drive the company toward collapse and would love to have its major assets converted to cash. What this will mean over the airwaves, however, is unclear.

"The biggest question, obviously is programming," says veteran radio station broker Frank Boyle. "What format or formats would someone bring in?" Big City switched from country to a "Rumba-107" format on the old WYNY earlier this year, saying it was a better fit with the predominantly Hispanic and Infinity, are unlikely buyers because they already own so many stations in the market. Nassau Broadcasting and Next-Media, who already own several stations in surrounding areas, have been mentioned as stronger possibilities. Hispanic or ethnic broadcasting groups might also be interested, though most ethnic groups have tended to buy AM stations, which are cheaper. Even if a company reinstituted the country quadrocast, of course, it ME RADIO programming on Big Citys other stations.

Country fans would love to have Alan Jackson back. But Tom Taylor, editor of the newsletter Inside Radio, says many questions remain to be answered. by David Hoyt wouldn't satisfy all country fans, because the quadrocast signal never covered the whole market. But once the sale of New Jersey's small WKMB is completed later this year, there will be no full-time country stations' In the Usethadusawhsto 3 each square, to lour Jumbtaa. ona lattar form lour words.

The star of this show has had some fun TV roles. KROBSO Albert or Avery FT 1 I I I I I DOSAWH JheWhite ri I LJ For starters, he says, "We don't know whether all four stations will be sold to one buyer or whether they will be broken up. Or Big City could end up keeping them." Boyle thinks they will sell, and quickly. "Where else could you buy an FM station in the New York market for $30 million a signal?" says Boyle. "To buy an FM in New York itself would probably cost you $250 million.

So this could be very attractive for a buyer who knew how to take advantage of the quadrocast." The four signals are in Westchester, the Hamptons, Monmouth County, and Hackettstown in western New Jersey. So they could also be attractive, Boyle suggests, to owners who already had stations in those areas. Radio's two goliaths, Clear Channel metropolitan area. i 3 "Country is certainly one possibility," says Taylor. "But I think it's a long shot anyone will buy all four stations.

It's more likely they will be broken up:" i Taylor also notes that Big City's financial problems could make it difficult to get top-dollar offers, at least at first.) "I suspect early offers will come inflow," he says. "But I don't think Big City sees this as a going-out-of-busines's" sale. If they don't get the right offer, they could just keep some or all of the stations." Last year, Big City sold several stations around Phoenix, raising enough- ash to keep its other stations operating. 7 Big City's problems stem largely from the unexpectedly severe decline in radio ad revenues the past two years. Bonus Clue: After NBC canceled this SHRYIOT The.

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Years Available:
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