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From All Access this morning (WPFX has been sold)...

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JobyOne
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From All Access this morning (WPFX has been sold)...

Post by JobyOne » Tue Feb 18, 2020 3:14 pm

"TOLEDO RADIO, LLC is selling Country WPFX-F (107.7 THE WOLF)/LUCKEY-TOLEDO, OH to PATTON ADVERTISING ENTERPRISES, LLC for $995,000 ($233,000 cash, $762,000 in a promissory note)."



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MWmetalhead
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Re: From All Access this morning...

Post by MWmetalhead » Tue Feb 18, 2020 6:07 pm

Who the heck is Patton Advertising Enterprises?

If it's a startup - good luck to Toledo Radio, LLC in collecting the $762,000 seller's note!

In any event, thanks for the info. I hope the current format stays.


Rock 95.5 in Chicago is the worst sounding major market rock station in the history of corporate radio.

fuzzpower
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Re: From All Access this morning (WPFX has been sold)...

Post by fuzzpower » Tue Feb 18, 2020 9:31 pm

I would love a real rock station instead of WIOT, but it won’t happen.



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Colonel Flagg
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Re: From All Access this morning...

Post by Colonel Flagg » Wed Feb 19, 2020 1:43 am

MWmetalhead wrote:
Tue Feb 18, 2020 6:07 pm
Who the heck is Patton Advertising Enterprises?

If it's a startup - good luck to Toledo Radio, LLC in collecting the $762,000 seller's note!

In any event, thanks for the info. I hope the current format stays.
Dan Haslinger. I guess he wants to play "radio station" again. Dudley must really want to get out badly. :rollin


"Nobody can get the truth out of me because even I don't know what it is. I keep myself in a constant state of utter confusion."

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Re: From All Access this morning (WPFX has been sold)...

Post by MWmetalhead » Wed Feb 19, 2020 7:20 am

Dan Haslinger.
OK, now who the heck is that? :)

Man oh man, if WPFX is capable of fetching only a $1 million in deal that involves very heavy seller financing, just imagine how little 106.5 is worth! My guess is no more than $400,000.


Rock 95.5 in Chicago is the worst sounding major market rock station in the history of corporate radio.

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WOHO
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Re: From All Access this morning (WPFX has been sold)...

Post by WOHO » Wed Feb 19, 2020 10:25 am

only a quarter million in cash, that's what KLove wanted for their 1520AM signal, not a lot a cash.
Is it really Dan Haslinger buying 107.7 to play radio again?
Dan owned 97.3 The Fox and originally it was a smooth jazz station before he sold it off because of the fighting between Dan and BAS, so neither has it.
Maybe Dan will go HD with it and put smooth jazz on the 107.7 HD2?

And putting things in perspective, 106.5 isn't gonna see a half-million based on this deal, if they ever sell it at all.

Cumulus has all their HD hardware rusting away from 93.5, 94.5. 98.3, and K100, only using the Q105 HD2 to feed 100.7 as a translator, so they ought to dump the stuff. By the way, when you listen to Q105-HD1, it will reset your car radio to the wrong time :)



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Re: From All Access this morning (WPFX has been sold)...

Post by Deleted User 12047 » Wed Feb 19, 2020 10:29 am

Can someone who is smarter than me make sense of the "promissory notes" in this purchase agreement? They seems like the seller is taking the loan and paying the buyer? Or do I just not know how to read this?

https://licensing.fcc.gov/cdbs/CDBS_Att ... &exhcnum=1



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Colonel Flagg
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Re: From All Access this morning (WPFX has been sold)...

Post by Colonel Flagg » Wed Feb 19, 2020 10:44 am

Dan Haslinger is an entrepreneur, and real estate investor. He originally operated WJZE as a standalone. Studios were near the old Woodville Mall. Eventually, he leased the station to Dan Dudley, who, at the time, owned 106.5 "The Buzz". Haslinger got out at the top of the market, in 2005, selling 97.3 for $2.6 million. I can't recall if Haslinger and Dudley knew each other prior to the Buzz LMA deal or not.

Unrelated, but long before 106.5 The Buzz, Dudley, along with Ashley Dressel, owned WRQN for a time. That was one distressed property, to say the least, and they managed to turn it around.

Funny thing about the sale of 107.7... the officer for Toledo Radio, LLC is listed as Lora Koralewski, not Dan Dudley. Lora Koralewski is also one of the BUYERS, along with Dan Haslinger.


"Nobody can get the truth out of me because even I don't know what it is. I keep myself in a constant state of utter confusion."

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Re: From All Access this morning (WPFX has been sold)...

Post by MWmetalhead » Wed Feb 19, 2020 12:59 pm

Can someone who is smarter than me make sense of the "promissory notes" in this purchase agreement? They seems like the seller is taking the loan and paying the buyer? Or do I just not know how to read this?
A Promissory Note is simply a promise to pay. Think of them as an "I-O-U" that the buyer is agreeing to pay to the seller over a length of time. Very similar in concept to a land contract, except in this instance, we're talking about a radio station.

My guess is this seller financing is much more favorable than what the buyer would have been able to obtain from a bank.

What's interesting is the repayment period (amortization period) was left as a "TBD" item. I guess the parties didn't want those terms to be part of the FCC's public record.


Rock 95.5 in Chicago is the worst sounding major market rock station in the history of corporate radio.

fuzzpower
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Re: From All Access this morning (WPFX has been sold)...

Post by fuzzpower » Wed Feb 19, 2020 8:28 pm

At this rate $250,000 is overvaluing 1520.

I can see Cumulus holding out for more cash. 106.5 is sticking around.



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Colonel Flagg
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Re: From All Access this morning (WPFX has been sold)...

Post by Colonel Flagg » Thu Feb 20, 2020 10:34 am

The generous terms in this deal are probably there because Dudley and Haslinger have some history, going back to the days of The Buzz. Haslinger must believe it's still cool to brag to your Country Club cronies about owning a radio station.


"Nobody can get the truth out of me because even I don't know what it is. I keep myself in a constant state of utter confusion."

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Re: From All Access this morning (WPFX has been sold)...

Post by Deleted User 15299 » Thu Mar 26, 2020 3:03 am

I'd really like to see a flip to a variety or classic hits format, with a playlist similar to what 97.3 The Fox had. Unlike, hearing the same stale tight playlist, over and over again WRQN. The Toledo market has enough country, rap,and pop. Although, I have a feeling Country is going to stay.

The King has spoken....



radioandtventhusiast
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Re: From All Access this morning (WPFX has been sold)...

Post by radioandtventhusiast » Fri Mar 27, 2020 10:27 pm

Yeah, WRQN's extremely stale, same songs every single day, with almost no "Oh wow"- type songs, except in the all-'70's and all-80's hour. I want a station that's similar to what Jeff Lamb is doing right now, a little bit of everything from the '60s, '70s, '80s, and '90s. A station that plays thousands of songs, with some deep cuts added in. 93.5'S not made any adjustments in months, instead, it's the same 200 songs. I don't see them flipping to classic country as we already have NashIcon and 103.7.



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Re: From All Access this morning (WPFX has been sold)...

Post by TeddyBear » Sun Mar 29, 2020 12:41 am

radioandtventhusiast wrote:
Fri Mar 27, 2020 10:27 pm
Yeah, WRQN's extremely stale, same songs every single day, with almost no "Oh wow"- type songs, except in the all-'70's and all-80's hour. I want a station that's similar to what Jeff Lamb is doing right now, a little bit of everything from the '60s, '70s, '80s, and '90s. A station that plays thousands of songs, with some deep cuts added in. 93.5'S not made any adjustments in months, instead, it's the same 200 songs. I don't see them flipping to classic country as we already have NashIcon and 103.7.
That's the same way I see Mix 98.1 and 101.5- The River. When is the last time we heard "Don't Make Me Over," "Oh Father," "Land of Confusion," "Keep on Movin'," "Somebody's Watching Me," "I Wanna Be a Cowboy," "Pop Goes the World," "Never Tear Us Apart," "Dance Hall Days," "No One is to Blame," "Fast Car," "A Little Respect," etc. I can go on and on. No "wow" factor. Cliff did attempt to add music, but corporate put a stop to that, when he was Q's PD.


Something to think about- Just because I point out that you cannot do your job properly and appropriately, does not mean that anyone is calling you a bad person. However, you tell the world that you are a bad person by denying that you cannot do your job.

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Re: From All Access this morning (WPFX has been sold)...

Post by Deleted User 15299 » Sun Mar 29, 2020 2:41 am

Right very bland, have to heat OMD-If you leave or Steve Miller Bank- The Joker over and over again, UGH... WRQN kills it in the ratings, as there the only game in town. I can't believe there can be that much demand for country music. I remember when WPFX signed back on, I was for sure thinking it was going to be Jack-fm. Another Country station? F&%$!!!! NO!!! :lol

I'd like to see 103.7 simulcast 1370, won't happen because it makes too much sense. Why is The Toledo area so ass backwards? SMH

The King Has Spoken...



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