Bidding For Erie Signal Resumes Monday

Bids for new Erie-area radio signal reach $1.4 million

Erie is a hot market in the struggling broadcast-radio industry.

According to a story by Ed Palatella at the Erie Times-News, the bids for the region's newest FM signal continue to outstrip, by far, the offers for any of the other 143 FM frequencies up for sale by the Federal Communications Commission.

At the end of Friday, the third day of bidding in the current FCC auction, the high bid for a permit for 92.7 FM was $1,413,000, from First Channel Communications, co-owned by Fairview Township advertising executive Richard Rambaldo.

The next highest bid for any station was $506,000, for a frequency in Coosada, Ala., near Montgomery.

First Channel's only competitor for the 6,000-watt 92.7 FM is Connecticut-based Mini Me Media LLC, which is part of Connoisseur Media LLC. Connoisseur already owns six radio stations in the Erie market, or the FCC-mandated maximum number of stations.

Connoisseur bid $1,346,000 for 92.7 FM in the final round on Friday, only to have First Channel bid more. The bidding started Wednesday at $100,000.

Bidding on 92.7 FM resumes Monday at 10 a.m. and is expected to last several days. The FCC generally closes an auction of a signal when the competing bidder does not raise its offer by the minimum of 10 percent.

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