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| Scott Fybush |
It’s Pacifica national that would ultimately decide whether
to cash in on the value of the New York 99.5 FM frequency to help the rest of its
outlets survive – and that value is significant indeed, somewhere between the
$40 million Cumulus paid for the former WFME (which transmits from New Jersey)
and the $75 million CBS paid for what’s now WFAN-FM (101.9) from Empire.
Who’d be buying? According to Scott Fybush at fybush.com, Clear
Channel is already at the market cap, and CBS would have to spin off an AM and
overcome some market-concentration issues to add a fourth FM. Among the
remaining commercial operators in town, that leaves Emmis (which has been doing
more selling than buying lately) and Cumulus in English (as well as YMF
Broadcasting, which itself appears to be in selling mode) and Spanish
Broadcasting System and Univision Radio in Spanish.
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| WBAI 99.5 FM 54dBU Coverage |
On the noncommercial side, there’s WNYC, which has two
commercial-band FMs in town and has been seeking ways to improve the signal of
its classical WQXR, now on a class B1 signal at 105.9. With any other
broadcaster, it would be a slam-dunk move to swap the big 99.5 signal for the
somewhat smaller 105.9 and a cash infusion that could keep WBAI alive for years
to come…but this is, after all, WBAI. Stay tuned, advises Fybush.
Do you really think it's still worth over $40m in today's market? I doubt it. I'd expect it to go to Cumulus, but I'd rather see a noncommercial group take it.
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