Larry and Corrie out at LG 104.3

Radio News from British Columbia

Re: Larry and Corrie out at LG 104.3

Postby radiofan » Wed Nov 25, 2015 2:05 pm

The repetition and lack of variety is what makes LG 104.3 unlistenable for me. The 40% Can-Con doesn't help, but it's the lack of actual Oldies that is painful.

I was hoping for something better from Newcap than what Rogers had offered with FUN FM, but it hasn't happened. Newcap has been very successful with Oldies/Classic Hits in both Edmonton and Calgary, but Vancouver has failed.

I'd give programming whiz Ronnie Stanton at Corus full credit for crippling any chance LG had when he brilliantly added Classic Hits into the mix along with Classic Rock at CFMI.

Sorry to see two class people like Larry and Corrie "on the beach".
Those who danced were thought to be quite insane by those who couldn't hear the music.
User avatar
radiofan
Advanced Member
 
Posts: 13724
Joined: Sun Apr 16, 2006 2:24 pm
Location: Keremeos, BC

Re: Larry and Corrie out at LG 104.3

Postby Jack Bennest » Wed Nov 25, 2015 6:20 pm

tuned wrote: Turn it off


Tuned and I seldom agree. :oops:

Bravo, Insightful.
User avatar
Jack Bennest
Advanced Member
 
Posts: 4471
Joined: Mon Apr 17, 2006 9:25 pm

Re: Larry and Corrie out at LG 104.3

Postby Mike Cleaver » Wed Nov 25, 2015 10:03 pm

Say what you want about NewCap but it's the one corpse which actually deals in cash money, not a pile of paper that could collapse at any minute.
They actually come in and improve their stations, all new equipment, transmitter redundancy and generators to supply power when the grid goes down.
Disclaimer: My brother works for NewCap.
He has no problem getting what he needs to improve the physical plants for the two radio stations for which he is responsible.
NewCap did institute a round of terminations this month but many were in management and several were well deserved.
I'm pretty certain they're still struggling with what to do with their Vancouver acquisitions in a market already saturated with the so called "money demo formats."
That's not such a big problem in smaller markets but in the larger ones, where most formats already are covered by at least two stations, finding a profitable niche is is a little more difficult.
The Shore was built to flip.
I fear the same fate awaits Roundhouse.
Mike Cleaver Broadcast Services
Engineering, News, Voice work and Consulting
Vancouver, BC, Canada

54 years experience at some of Canada's Premier Broadcasting Stations
User avatar
Mike Cleaver
Advanced Member
 
Posts: 2085
Joined: Sat Apr 29, 2006 6:56 pm
Location: Vancouver

Re: Larry and Corrie out at LG 104.3

Postby DirkSteele » Thu Nov 26, 2015 9:11 am

Mike Cleaver wrote:Say what you want about NewCap but it's the one corpse which actually deals in cash money, not a pile of paper that could collapse at any minute.


"Cash instead of paper" isn't quite accurate. Just because an engineer can buy what he wants doesn't mean they are paying cash.

Newcap has a $90 Million revolving line of credit and another $90 Million fixed credit that was needed to buy Toronto & Vancouver. At the end of 2014, they had $365 Million in assets and $139 Million (out of the $180M available) in debt. Their own statements say they do not carry a positive cash balance and run all operations through their credit facilities. It cost them just over $6 Million in 2014 in interest to service that debt (nothing really at today's low interest rates and their revenue of $154 Million). The whole company, buildings and equipment are up as collateral...that's the collapse at any minute part. As a public company, that information is just a Google away on their own website.

I'm not blathering on saying it is a bad thing, it may not be all that different than the other companies.....but it certainly isn't a "cash instead of paper" company. They are running the shop with one big credit card at around 4% interest. That includes paying themselves and their shareholders.

The 2015 statement will show if they managed to take a bite out of that debt and if Toronto & Vancouver are paying off.
DirkSteele
Advanced Member
 
Posts: 64
Joined: Tue Oct 30, 2007 6:44 am

Re: Larry and Corrie out at LG 104.3

Postby jon » Thu Nov 26, 2015 3:13 pm

As I have said before, the one event that really caught my attention at Newcap was when they walked away from the CRTC-approved purchase of Ontario's Haliburton.

In the time it took to get approval, Financing had become harder to get. One alternative was to lay off 20 people, but they opted to forget about the deal instead.
User avatar
jon
Advanced Member
 
Posts: 9257
Joined: Mon May 08, 2006 10:15 am
Location: Edmonton

Previous

Return to British Columbia

Who is online

Users browsing this forum: No registered users and 159 guests