Here’s a news story almost certain to result in zero shedding of tears…
Because at long last Wilks Broadcasting has reportedly struck a deal to sell its cluster of local radio stations and exit the Kansas City market. The stations include, Mix 93.3 FM, KFKF FM, KBEQ FM and KCKC FM.
The pending sale to Steel City Media in Pittsburgh couldn’t have come soon enough for many current and former staffers at Wilks’ Kansas City stations.
That’s because Wilks – which bought the stations in January 2007 – is known to purchase groups of underperforming stations, slash expenses, boost revenues and then “flip” or sell the stations for a profit.
Unlike Entercom which is known for buying and operating the stations long term.
As might be imagined, it’s the slashing of expenses part that takes the biggest toll on radio station staffers and there was no shortage of frowning faces after Wilks took over here in 2007.
Word of yesterday’s sale came as a surprise to many locals.
“It was a big surprise,” says one local radio executive. “I mean, Jeff Wilks doesn’t sell stuff unless he makes money and he paid a pretty price for those stations back in 2006 – somewhere around $90 to $100 million as I recall. It was right before the bottom fell out on the economy.”
As a result, Wilks was forced to operate the stations longer than many in the radio industry expected him to, before finding suitable market conditions to allow a sale.
And talk about strange bedfellows…
The buyer of Wilks KC stations, Steel City Media, ss a family-owned Pittsburgh biz, that owns publishing, broadcasting and internet services, Q 92.9, Bob FM 96.9, Pittsburgh City Paper, and “several internet portals.”
Hey, maybe they’ll wanna pick up The Pitch to compliment their Kansas City holdings.
Stay tuned…
Yeah, Kansas City needs another leftist oriented media outlet.
Say Hearne, how about putting the where these stations are on the dial. Most of us couldn’t tell you what the call letters are of more than a couple of stations.
Good idea, John.
I tried to use some of the catch names to make it easier…like The Rock, Mix 93.3, Magic, etc.
Media outlets are people, too, my friend.
I love when ignorant “conservative” idiots complain about something they have little if any true knowledge. Dale Carter on KFKF (a Wilks station), look up the dial position, is a known right wing sycophant, Rush the fake conservative still generates good ratings for KMBZ, again look up the dial position, the only left thing about most local radio/TV operations try is to walk down the middle, and when America walks down the middle America prospers, history proves it, while each time the trickle down folks force that bullshit, it causes great harm to those at the bottom of the trickle.
Objective media is viewed as leftist by ignorant right wing nut cases, who flunked history and have no understanding of how to view an issue from both sides objectively.
Yeah, these guys here wouldn’t know what they are talking about, would they?
http://www.mrc.org/media-bias-101/journalists-admitting-liberal-bias-part-one
It’s along list.
http://www.mrc.org/media-bias-101/journalists-admitting-liberal-bias-part-two
Holy cow mrc.org is still around?! I love those guys! They are the World Net Daily of .orgs.
I forget, are they also UFO nuts or the chemtrail loons? Both, maybe?
Curious.?! How did an article of a cluster of radio stations sold become a political discussion.
radio dude…looked up info on the new owners of kfkf/mix etc.
a crazy bunch of people.
father and 3 sons who before now ran 2 stations in a smaller market (Pittsburgh)and a restaurant.
should be interesting!!!!!!
wilks probably lost some money but kc is not a great radio market.