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MyFM Acquires Station In New York State
Jon Pole's MyFM is adding to his stable of stations - but not in Ontario. For the first time, the independent owner is taking control of WLYK-FM in Cape Vincent, New York, an outlet already partially owned by Rogers. That's a town not far from Kingston.
More here.
(Thanks to Canadian Radio News for the link.)
- RadioQuiz
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Re: MyFM Acquires Station In New York State
I miss Jon on Newstalk 1010. He was one of the good ones. Hope he's successful.
- RadioAaron
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RadioQuiz wrote:
I miss Jon on Newstalk 1010. He was one of the good ones. Hope he's successful.
He sure is. He's found a way to make radio profitable in markets that traditionally wouldn't be, and expands/divests carefully and strategically.
- AMFM
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Question? How can a Canadian own a radio station in the U.S.?
- RadioAaron
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Question? How can a Canadian own a radio station in the U.S.?
I believe that the initial reporting on this is false, and MY is buying Rogers' minority stake in BBI.
- fybush
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The FCC changed the rules a few years ago to allow up to 100% foreign ownership after a background check and State Department approval.
My understanding is that the purchase of Border is actually being made by Pole and his partner as individuals, not under the My corporate banner - but it is a buyout of the entire company, not just of the 20% that Rogers owned.
- RadioAaron
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Re: MyFM Acquires Station In New York State
The FCC changed the rules a few years ago to allow up to 100% foreign ownership after a background check and State Department approval.
My understanding is that the purchase of Border is actually being made by Pole and his partner as individuals, not under the My corporate banner - but it is a buyout of the entire company, not just of the 20% that Rogers owned.
I trust your analysis over mine, thanks.
- RadioActive
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Re: MyFM Acquires Station In New York State
Radio & TV Business Report notes that one of the reasons Rogers may have decided to shed this property is the new rule that an owner can have three FMs in a market, including Kingston.
“Now, with fresh CRTC rules that can allow Rogers Media to own a Canadian property serving Kingston outright, it has engineered a deal that will not only see it shed its 20% stake in the FM but also see its remaining 80% equity holders say goodbye to the property."
Right now, I believe they own two in the city - CIKR and CKXC. Could another one be far behind?
(Note: the article is behind a paywall, but there's enough there to give you the gist.)
Oh, ‘My’: N.Y. Border Deal Ends Rogers Media’s Kingston Trio
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