Posts Tagged ‘Citadel Broadcasting’

Lew Dickey keeps Erie

According to RadioInk Magazine, the shakeout from the big Cumulus/Citadel radio merger leaves the four stations in Erie, WXKC, WXTA, WQHZ, and WRIE in the hands of Cumulus Media. Because of FCC rules, Cumulus can’t keep 14 of the stations from the resulting massive broadcast group. From their report:

The paperwork has been filed for the Cumulus-Citadel merger, including an application to assign 14 stations to a divestiture trust since, with the deal, Cumulus will lose grandfathered status in some markets and go over ownership limits in others…The stations will be assigned to Volt Radio, a divestiture trust with Scott Knoblauch as trustee.

Cumulus buys Citadel, includes four stations in Erie

Classy 100/WXKC

WXKC/Classy 100's parent is sold to Cumulus Media

Nearly half of Erie’s radio stations are about to answer to a new boss. According to a flash report Thursday afternoon on RadioInk.com:

Radio Ink has confirmed that a deal to purchase Citadel, which includes the radio network and the former ABC-Disney properties and Citadel properties with 550 stations in 120 cities and eight of the top 10 markets has been agreed to. The offer, which was accepted is due to be announced at $37 a share ($30 cash).

The transaction valued at 2.4 billion and 1.5 billion in market equity totaling a $4 billion enterprise value.

The magazine was unable to get comment from the major players, but internal communication confirmed the sale.

This puts the nation’s second largest radio owner in charge of four stations licensed in Erie County, including WXKC/Erie (Classy 100), WXTA/Edinboro (Country 98), WQHZ/Erie (Z102.3), and WRIE/Erie (ESPN 1260 The Score). Citadel Broadcasting prided itself as the largest “pure-play” radio operator in America, and recently emerged from bankruptcy protection last summer. As we have reported over several months, Cumulus has had its eye on the group for a takeover, hostile or otherwise.

As of this afternoon, there is no official word of the sale from either party.

WMCE listeners migrate from 104.9 translator

Michael Leal, Director of Broadcasting for Mercyhurst College’s 88.5 WMCE, writes to tell listeners of the jazz station that they are about to lose their second signal at 104.9 FM. Here’s the release:

If you listen to Mercyhurst College’s JAZZ FM – WMCE Radio over 104.9FM, program director Michael Leal is asking listeners to switch frequencies to 88.5FM, effective immediately.

Mercyhurst owns the 88.5 FM frequency which it broadcasts a full-time jazz format. It has also been simulcasting its programming over translator 104.9FM (W285AI), which is not owned by the college and the license is expected to be sold to a local commercial broadcaster in the near future.

The 88.5 FM frequency has increased its power significantly in recent years and anyone listening to Jazz FM over 104.9 will be able to receive it over 88.5

“All Jazz FM programming will continue without interruption, but only heard over 88.5FM,” Leal said.

You can also continue to hear programs as usual on the station’s Internet at www.ErieRadio.com.  Questions can be directed to Leal 824-2264.

The commercial broadcaster Leal refers to is Citadel, who is planning on picking up 104.9 to put it’s WRIE/ESPN sports station on the FM band. That would make two Erie AM’s also available on FM via translator frequencies; the other being WPSE business talk out of Penn State Behrend on 107.1.

New heights for Star 104 in Fall radio ratings

Tuesday evening’s release of the latest ratings for Erie radio stations only tells half the story, but it is the greater half.

The ratings company, Arbitron, decided to make public only the ratings of those stations who subscribe to their service. That means for now, we can only see what happened this Fall to the stations of Connoisseur Media, including perennial powerhouse WRTS/Star 104. We have no official access to the performance of the stations of Citadel Broadcasting or any of the independent local stations.

Hits by artists like Katy Perry fuel WRTS's domination of the Erie Fall 2010 radio ratings

Star continues to ride the wave of the resurgence of pop music, but their domination of Erie indicates a total acceptance across all demographics. The 35% increase in 12+ share year over year brings WRTS’s numbers to level’s we haven’t seen in decades.

The flagship of the Connoisseur group is the biggest of many positive stories for the occupants of the those big display windows at the Boston Store. WRKT turned around their recent ratings slide to their best book in two years. In fact the only big disappointment of the six stations was at WTWF, where they lost nearly half of their average share of audience from last year. Of course we can’t compare 93.9 The Wolf with their WXTA and WGYY country competitors, since they didn’t buy the book.

Finally, will the strength of Star and Rocket finally push crosstown Citadel Broadcasting to flip their weakest property, WQHZ to go after a slice of the larger Top 40 pie that Star owns, or a flanking move to oldies or FM talk.

Keep watching this space for further ratings fallout and punditry.

Cumulus spurned as it tries to buy Classy 100 parent

Citadel Broadcasting

Citadel Broadcasting Corporation

The troubled parent company of Classy 100 and Country 98 has rejected two offers for merger with radio heavyweight Cumulus Media, according to a report this morning on the New York Times DealBook blog.

The board of Citadel Broadcasting, America’s number three radio operator and corporate owner of WXKC/WXTA/WQHZ/WRIE in Erie, rejected the offers as bad for the shareholders of the privately-held company:

In a Dec. 6 filing, Citadel revealed it was a takeover target of an unnamed third party. DealBook has learned that the third party was Cumulus Media, according to two people familiar with the offer who were not authorized to talk. In early November, Citadel received “an unsolicited letter from a third party proposing a merger transaction,” the company said in the filing. The board quickly rejected the offer.

A few weeks later on Nov. 29, Cumulus Media, whose chief executive is Lewis W. Dickey Jr., raised the offer. The board rejected the revised bid, saying it was not in the best interest of shareholders, according the filing.

The offers come just months after Citadel worked its way out of bankruptcy protection in June, complete with an attempted massive $110 million stock payout to top executives and board members. Management has since dropped the stock awards.

Star 104 goes super nova in Erie Spring radio ratings

WRTS/Star 104

It’s got to be one of the biggest Top 40 stations in the country.

According to the recently released Spring 2010 Arbitron ratings for Erie, the nearly 18 percent share of the Erie radio audience that WRTS/Star 104 enjoys at any given part of the day means that if you were to pile all those people into one place it would be the equivalent of the population of a decent sized city all jumping up and down to The Black Eyed Peas. Star definitely benefited from the sheer depth of great Top 40 songs currently in rotation. Erie has gone GaGa for the Lady, the glam of Adam Lambert, and the Gurls of California.

In fact, market watchers tell me that Star 104 has reached audience Nirvana with its “skew graph.” Connoisseur Media’s WRTS scored nearly the same percentage of adult listeners in each demographic slice, meaning that it’s the station that Grandma, Mom, and Sissy can agree on. Most Erieites listen to Star and another station; from Bob to Z.

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Deep Background for August 22-28, 2010

August has turned into a time of significant change for Erie’s media.

Long-term TV personalities have flown the market, the newspaper has unequivocally called out County Councilmen and women based on their support of the proposed Community College, the Citadel group experienced a resurgence in Erie’s radio ratings even Connie Media’s #1 station extends its lead, and Erie’s top new media properties join together to further connect their/our readers.

We are covering it all in the coming days after this lengthy hiatus. Meanwhile you can spout off on anything media topic you desire in this open forum. Leave a comment below, e-mail me, or tweet @pressandtower.

Embrace the chaos!