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WFUR FM Sold, New Owners Filing Status Change for Commercial Station
WFUR FM Sold, New Owners Filing Status Change for Commercial Station
From All Access today: FURNITURE CITY BROADCASTING CORPORATION is selling Religion WFUR-F/GRAND RAPIDS, MI to BIBLE BROADCASTING , INC. for $2.75 million. The buyer is filing with the FCC to convert the station to noncommercial status.
In life when I have decisions to make I always think to myself, What Would Scott Hall Do?
Then I buy a bunch of cheap booze and drink myself to sleep.
Then I buy a bunch of cheap booze and drink myself to sleep.
Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
I assume they kept the tower and lease revenue? Kuiper used to do mainstream Protestant publishing.
I think this group is out of Charlotte, I know they bought the old NPR in Cincy.
I think this group is out of Charlotte, I know they bought the old NPR in Cincy.
Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
I assume they kept the tower and lease revenue? Kuiper used to do mainstream Protestant publishing.
I think this group is out of Charlotte, I know they bought the old NPR in Cincy.
I think this group is out of Charlotte, I know they bought the old NPR in Cincy.
- MWmetalhead
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
AM 1570 and FM 92.9 are not included in the sale?
Morgan Wallen is a piece of garbage.
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
Neither are WKPR-AM 1440/FM 105.1 Kalamazoo apparently. I suspect they and WFUR-AM/translator may still be up for sale regardless.
This surprises me. i always thought the Kuipers would hang on to their stations until the second coming and beyond.
This surprises me. i always thought the Kuipers would hang on to their stations until the second coming and beyond.
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
For anyone who dislikes the programming on 102.9 FM, just wait until the new format comes to town. "Awful" doesn't even begin to describe it. It features programming designed for a throwaway AM station or shortwave station.
You'll be begging for the current day WFUR-FM to come back!!!
You'll be begging for the current day WFUR-FM to come back!!!
Morgan Wallen is a piece of garbage.
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
One thing is for sure, BBN makes the current WFUR-FM sound like heavy metal. Anyone within listening range of WYBA-FM 90.1 Coldwater/Battle Creek can tune in for a preview of what's to come.
I guess WFUR's addition of more contemporary music to its mix over the past decade or so hasn't succeeded in attracting more younger listeners to what has been a very old-skewing station for as far back as I can remember. They may be the CCM equivalent of 100.5 The River now, but it wasn't so long ago that they were formatted more like a Beautiful Music station. The CCM market in West Michigan, despite all the options available, continues to be "WCSG and everyone else."
I guess WFUR's addition of more contemporary music to its mix over the past decade or so hasn't succeeded in attracting more younger listeners to what has been a very old-skewing station for as far back as I can remember. They may be the CCM equivalent of 100.5 The River now, but it wasn't so long ago that they were formatted more like a Beautiful Music station. The CCM market in West Michigan, despite all the options available, continues to be "WCSG and everyone else."
- MWmetalhead
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Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
It's evident the Kuiper Family was only interested in selling to a broadcaster who'd keep WFUR-FM a Christian station.
$2.75 million, assuming it's payable in full at closing, is a fair price for the Kuiper Family as sellers, assuming they will retain the tower site.
All one needs to do is look at recent sale transactions.
KFMB-AM & FM in San Diego (much larger and wealthier market) recently sold for $10 million total, and the buyer in that case gets the tower sites. 107.7 WPFX-FM in Bowling Green / Toledo just sold for $1 million, but 70% of that purchase price is being financed by the Seller on a multi-year note.
WDMK in Detroit sold for $13.5 million, which is at the high end of the comps range even after adjusting for population differences, but that station has a commercially successful format that probably generates $2 million in unlevered cash flow annually. I suspect WFUR AM & FM's cash flow is sitting near multi-decade record lows. I seldom come across any advertising while channel surfing. I think almost all of their income comes from selling blocks of air time and renting tower space.
A power bill for a 250 watt translator (92.9 FM) will be much easier to manage than for a 50,000 watt FM blowtorch.
$2.75 million, assuming it's payable in full at closing, is a fair price for the Kuiper Family as sellers, assuming they will retain the tower site.
All one needs to do is look at recent sale transactions.
KFMB-AM & FM in San Diego (much larger and wealthier market) recently sold for $10 million total, and the buyer in that case gets the tower sites. 107.7 WPFX-FM in Bowling Green / Toledo just sold for $1 million, but 70% of that purchase price is being financed by the Seller on a multi-year note.
WDMK in Detroit sold for $13.5 million, which is at the high end of the comps range even after adjusting for population differences, but that station has a commercially successful format that probably generates $2 million in unlevered cash flow annually. I suspect WFUR AM & FM's cash flow is sitting near multi-decade record lows. I seldom come across any advertising while channel surfing. I think almost all of their income comes from selling blocks of air time and renting tower space.
A power bill for a 250 watt translator (92.9 FM) will be much easier to manage than for a 50,000 watt FM blowtorch.
Morgan Wallen is a piece of garbage.
Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station
BBN has bought up a few failed commercial stations in recent years, such as 99.9 on the south side of Chicago and the 93.7 between Lafayette and Baton Rouge in Louisiana