Acceptable registrations in the queue through March 16 at 11:00a ET have now been activated. Enjoy! -M.W.

Terms of Use have been amended effective October 6, 2019. Make sure you are aware of the new rules! Please visit this thread for details: https://www.mibuzzboard.com/phpBB3/view ... 16&t=48619

WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Discussion pertaining to Grand Rapids, Kalamazoo, Muskegon, Battle Creek, Big Rapids, and Michiana
User avatar
RandJob
Posts: 24
Joined: Tue Dec 06, 2005 3:59 pm

WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by RandJob » Fri Feb 28, 2020 9:55 am

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.

A1B1C1D1
Posts: 76
Joined: Tue Jan 04, 2005 7:21 pm

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by A1B1C1D1 » Fri Feb 28, 2020 10:16 am

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.



A1B1C1D1
Posts: 76
Joined: Tue Jan 04, 2005 7:21 pm

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by A1B1C1D1 » Fri Feb 28, 2020 10:17 am

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.



User avatar
MWmetalhead
Site Admin
Posts: 11873
Joined: Sun Oct 31, 2004 11:23 am

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by MWmetalhead » Fri Feb 28, 2020 11:09 am

AM 1570 and FM 92.9 are not included in the sale?



ChrisWL1980
Posts: 813
Joined: Wed Nov 06, 2019 2:36 am

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by ChrisWL1980 » Fri Feb 28, 2020 1:00 pm

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.



User avatar
MWmetalhead
Site Admin
Posts: 11873
Joined: Sun Oct 31, 2004 11:23 am

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by MWmetalhead » Fri Feb 28, 2020 6:19 pm

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!!!



ChrisWL1980
Posts: 813
Joined: Wed Nov 06, 2019 2:36 am

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by ChrisWL1980 » Fri Feb 28, 2020 8:29 pm

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."



User avatar
MWmetalhead
Site Admin
Posts: 11873
Joined: Sun Oct 31, 2004 11:23 am

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by MWmetalhead » Sat Feb 29, 2020 7:18 am

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.



ftballfan
Posts: 875
Joined: Thu Sep 17, 2009 6:38 pm

Re: WFUR FM Sold, New Owners Filing Status Change for Commercial Station

Post by ftballfan » Sat Feb 29, 2020 8:47 pm

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



Post Reply Previous topicNext topic