L.A. Radio Group Sells

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L.A. Radio Group Sells

Postby radiofan » Tue May 05, 2015 1:20 pm

Sonia Sawyer Schaab and husband Troy Schaab announced today on Facebook that after almost 10 years, L.A. Radio Group is being sold.

Sunny 94 (CJUV) has been sold to Golden West and KRAZE 101.3 has been sold to Harvard. This will give Harvard two sticks in Red Deer, the other being CRUZ FM.

If Golden West is successful with their Sylvan Lake application, this could give them two station in the Red Deer area.

The sale is pending CRTC approval.

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Re: L.A. Radio Group Sells

Postby Jim Walters » Tue May 05, 2015 3:23 pm

Sad, but not surprising, to see another indie "Take The Money And Run".

Was this pending deal the reason for the on again, off again applications for Sylvan Lake?

Was Clear Sky in on the bidding at some point?

Time for the CRTC to stop handing of licenses to future wannabe millionaires.
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Re: L.A. Radio Group Sells

Postby DirkSteele » Wed May 06, 2015 5:00 am

Jim Walters wrote:Sad, but not surprising, to see another indie "Take The Money And Run".


I don't think you can consider 10 years of personal investment "take the money and run".

Any other kind of business should be as lucky to be under the same ownership that long. Because it's radio it isn't a business?
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Re: L.A. Radio Group Sells

Postby Rocky » Wed May 06, 2015 8:26 am

The first few years of Sunny were great. In the past few years, they've lost their unique sound and become just another cookie cutter Classic Hits station playing the same burnt out songs I can hear anywhere. I wonder if Golden West will keep the established Sunny name or will it become an Eagle or a Mix with a healthy dose of paid religion dumped in the mix?

I fully expected a L.A. Radio Group/Clear Sky merger at some point. I guess that won't happen now.

The Harvard sales folk will have fun doing combo sales for Cruz and Craze.
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Re: L.A. Radio Group Sells

Postby jon » Sun Dec 20, 2015 3:14 pm

The CRTC has promised decisions on both these sales this coming week. To Harvard and Golden West.
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Re: L.A. Radio Group Sells

Postby jon » Mon Dec 21, 2015 12:56 pm

The CRTC decision for CJUV-FM Lacombe, the sale to Golden West, was announced today: http://crtc.gc.ca/eng/archive/2015/2015-570.htm

As expected, the purchase was approved. A careful reading is a good business case study in some of the risks associated with buying station these days: you offer a purchase price to the Owner without knowing what additional costs will be associated with the purchase as assigned by the CRTC. Those costs are paid by the buyer, not the seller.

Hopefully, it comes as no surprise to anyone involved that the condition of license remains: "The licensee shall refrain from soliciting local advertising in Red Deer, Alberta."

No decision has been announced yet on Harvard's purchase of L.A. Radio's other station, CKIK-FM (KRAZE) in Red Deer.
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Re: L.A. Radio Group Sells

Postby jon » Tue Dec 22, 2015 9:36 am

This morning brings the CRTC approval of Harvard's purchase of CKIK-FM Red Deer AKA KRAZE: http://crtc.gc.ca/eng/archive/2015/2015-573.htm

This decision is much more straight forward, with a full length license renewal, and the only license condition being the continuation of the original 40% CanCon requirement that had been proposed when the station first applied for a license.
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