Interesting 97.7 move to Morehead, KY

Ace Purple · Post by **Ace Purple** » Wed Oct 03, 2007 9:05 pm

Here's an interesting turn of events:

First Broadcasting bought WAXZ-FM (97.7) in Georgetown, OH and WAOL-FM (99.5) in Ripley, OH in 2005 from Plessinger Radio in May 2005 for $4.1 million.

At the same time, First bought the famous WOXY (97.7) from Doug and Linda Balogh for $5.6 million. Combined into a trimulcast, that was a $9.7 million investment to put Max FM on the air.

So, last month, First sold the station to Gateway Radio for a shockingly low $60,294. I looked closer... and then it made sense.

Gateway gets a station on the super-cheap, and it means a new station for Salt Like, KY (covering Morehead, KY which could use more radio coverage based on my travels through there) with local ownership to boot.

So why the low sale price? First is moving WOXY to a new COL in Mason, OH, which will give nice coverage into the north Cincinnati metro and some cover-over into Dayton, OH and Middletown, OH:

http://www.radio-locator.com/cgi-bin/pa ... =C&hours=U

It will be interesting to see if the move proves worthwhile for First, but this is a rare switcheroo situation where there seem to be positives across the board.

Arp2 · Post by **Arp2** » Wed Oct 03, 2007 11:42 pm

A very frightening thought occurred to me:

That signal perfectly fills a gap in EMF's cannibalistic forays into both markets and covers the bulk of the bulk of the money in both.

Force Commander · Post by **Force Commander** » Fri Oct 26, 2007 8:02 am

This post makes me wonder why there is not a Kentucky page on this system? Or is there one already that I don't know about?

Bob Loblaw · Post by **Bob Loblaw** » Fri Oct 26, 2007 9:26 am

Good idea.