1 of 1- RadioActive
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How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
The answer comes from a CRTC release on Tuesday, as it reveals it's called a virutal hearing for October 8th to finalize the deal between Bell Media and Golden Horseshoe Broadcasting (i.e. the same people behind CHWO-turned-CJYE) as they seek to finalize the sale of the stations.
GHB will get all four of the Bell outlets for $22,500,000, with the expectation it will keep their formats and run them as they have been in the past. Well, at least at the beginning. What happens down the road should be something to watch.
CRTC Hearing Announcement
At that same hearing, the CRTC is also expected to rubber stamp a deal between Moses Znaimer's Zoomer Media and Bell to take over CJOS-FM in Owen Sound. This one is worth 1,500,001. (You gotta love that $1 at the end of the number. If I were Moses, I would have refused it unless they gave me that loonie off!)
Have to say, that seems like a lot of money for a single station in such a relatively small market, but then I suppose these kinds of opportunities don't come around very often, so you jump in while they're there.
Zoomer Media Application
- mjf
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
RadioActive wrote:
At that same hearing, the CRTC is also expected to rubber stamp a deal between Moses Znaimer's Zoomer Media and Bell to take over CJOS-FM in Owen Sound. This one is worth 1,500,001. (You gotta love that $1 at the end of the number. If I were Moses, I would have refused it unless they gave me that loonie off
The New Classical 92.3??
- RadioAaron
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
At that same hearing, the CRTC is also expected to rubber stamp a deal between Moses Znaimer's Zoomer Media and Bell to take over CJOS-FM in Owen Sound. This one is worth 1,500,001. (You gotta love that $1 at the end of the number. If I were Moses, I would have refused it unless they gave me that loonie off
The New Classical 92.3??
Almost certainly.
- Radiowiz
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
At that same hearing, the CRTC is also expected to rubber stamp a deal between Moses Znaimer's Zoomer Media and Bell to take over CJOS-FM in Owen Sound. This one is worth 1,500,001. (You gotta love that $1 at the end of the number. If I were Moses, I would have refused it unless they gave me that loonie off
The New Classical 92.3??
Almost certainly.
I don't believe it will become a Classical station.
RadioWiz & RadioQuiz are NOT the same person.
RadioWiz & THE Wiz are NOT the same person.
- Bristol
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
$5.625M per station. Cue up Prince that's 1999 territory when stations sold at 10 times EBITDA.
- RadioActive
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
The Bay Observer picked up the story about the Hamilton stations. It contains one very interesting bit of information.
"One of the reasons for the purchase of the FM stations stated in the application is the plan by auto manufacturers to remove AM radio from the new generations of electric vehicle. Should that happen, as it appears to be the case, Golden Horseshoe is exploring the potential use the relatively new IBOC-HD transmission technology on the CKLH-FM transmitter, to continue to broadcast the programming of the two AM stations it owns."
So CKOC and CHAM may both appear on CKLH when the takeover comes. Good to know, especially if 1150 does return to oldies.
Application to purchase popular Hamilton FM station now posted on CRTC website
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Thread Starter- Bristol
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
Neeti P Ray owns CKOC and CHAM. Golden Horseshoe (aka Whiteoaks) owns CJYE and CJMR.
- Radiowiz
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
Neeti P Ray owns CKOC and CHAM. Golden Horseshoe (aka Whiteoaks) owns CJYE and CJMR.
Yeah, so it's more like Joy 1250 on HD2, not CKOC or CHAM...
RadioWiz & RadioQuiz are NOT the same person.
RadioWiz & THE Wiz are NOT the same person.
- RadioActive
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
Neeti P Ray owns CKOC and CHAM. Golden Horseshoe (aka Whiteoaks) owns CJYE and CJMR.
You're right. Sorry about that. Not much sleep last night and I didn't catch it. Still, the fact they're willing to use their HD signal is a good thing in my (half awake) mind. I wish more owners would use it and, just as importantly, promote it.
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Thread Starter- Glen Warren
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
I'm curious if the recent passing of Mr. Caine will have any bearing on this transaction overall?
I understand that Michael Caine had "stepped" back from his day to day role, and had been delegating more responsibility to his two sons. But in terms of ownership and controlling interest, Michael Caine had the majority.
While the purchase hearing is for October, will this not end up being delayed due to the now pending (presumed) transfer of White Oak ownership from the Michael Caine estate to his heirs?
- Ida Spencer
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Re: How Much Did The Package Of CKTB, CHRE, CHTZ & CKLH Cost?
The Bay Observer picked up the story about the Hamilton stations. It contains one very interesting bit of information.
"One of the reasons for the purchase of the FM stations stated in the application is the plan by auto manufacturers to remove AM radio from the new generations of electric vehicle. Should that happen, as it appears to be the case, Golden Horseshoe is exploring the potential use the relatively new IBOC-HD transmission technology on the CKLH-FM transmitter, to continue to broadcast the programming of the two AM stations it owns."
Expanding on that, there's this nugget in the application:
19. For the Applicant, this transaction is an opportunity to increase the company’s
English-language radio presence in Southern Ontario and to establish a presence in
Hamilton and St. Catharines, which are near Oakville, Ontario, where the Applicant's
business headquarters are located. The acquisition of three successful FM stations, will
ensure that the Caine family members, will have the opportunity to operate radio
stations which will not be impacted by the potential removal of AM radio reception from
electrically-powered automobiles. It is the Applicant's expectation that CJMR and CJYE
(multicultural and Christian AM stations) will continue to operate for years to come and
quickly transition to IBOC-HD to improve coverage to listeners in each city of licence.
20. CJYE and CJMR’s transmitter site is located on Dundas Street in Oakville, just west
of Sixteen Mile Creek. Its proximity to a steep ravine and twin three lane bridges for
Dundas Street make this site very difficult for directional AM stations due to the resulting
backscatter and reradiation. In addition, urban development is rapidly encroaching on
the site. A new twin two lane bridge is being built on an expropriated portion of the
transmitter land and residential and commercial development has begun to be built
directly adjacent to the site. For these reasons Trafalgar broadcasting has, for years,
been trying to relocate the transmitter site to a more suitable location. Thus far Trafalgar
has not been able to secure the required agreements with the private and public
stakeholders involved to find alternative transmitter sites. In the meantime, the existing
complex dual frequency, six tower, DA-1 facilities have proven increasingly difficult and
costly to maintain.
I've written before about the CJYE/CJMR site and wondered what was going to happen with all the encroachment. Selling the land will help pay for the CKLH transaction, as noted here:
36. The Applicant has a fully executed agreement to sell their Dundas (Street) property with
an award-winning builder and developer, a member in good standing with BILD
(Building Industry and Land Development Association). The agreement more than
satisfies all funds required to complete the purchase of the transaction, including all
taxes and tangible benefits.
So with the TX site sold, and slated for redevelopment, they're hinting the AMs may end up going low-power if they can't find a new site (underlined below
38. It is anticipated that operating the station group will result in synergies at the real
estate, managerial and supporting level for the Stations, which will enable the Stations
to continue to operate. The Applicant is also exploring the potential to implement IBOCHD
transmissions on the CKLH-FM transmitter, as a way of ensuring that listeners
continue to be able to receive the programming of CJYE AM and CJMR AM, if AM radio
is removed from electric vehicles. It is also anticipated that the land where the CJYE
and CJMR transmitters are situated will be re-developed for residential and commercial
use within the next 36 to 48 months. That would necessitate the relocation of the AM
transmitters, and possible low-powered AM operation, due to technical constraints. The
use of FM IBOC HD subchannels in order to continue to serve listeners of CJYE and
CJMR may be required.
What about those listeners? Are they going to do a promo blitz for HD so people don't only have to be in their cars to listen? Radio giveaways? Sales partnerships?