Pattison buys 9 stations from Rawlco

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Pattison buys 9 stations from Rawlco

Postby radiofan » Thu Jul 10, 2014 10:17 am

Pattison Broadcast Group buys Edmonton's NOW 102.3 and UP! 99.3 plus 7 Saskatchewan stations from Rawlco ...

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Re: Pattison buys 9 stations from Rawlco

Postby Rocky » Thu Jul 10, 2014 10:53 am

Wow. Pattison suddenly has two stations in Edmonton.

Will Ralco deal UP in Calgary to Harvard?
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Re: Pattison buys 9 stations from Rawlco

Postby albertaboy4life » Thu Jul 10, 2014 12:52 pm

And will Rogers buy the Regina and Saskatoon stations . . .
Faster cars, younger women, older cheese, more money . . .
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Re: Pattison buys 9 stations from Rawlco

Postby pave » Thu Jul 10, 2014 1:13 pm

Cue the violin section and bring on the pail of aspirins - 292's if ya got 'em.
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Re: Pattison buys 9 stations from Rawlco

Postby jon » Thu Jul 10, 2014 4:26 pm

Wonder if we'll ever know how much money changes hands in this sale.

Although they've dipped down to #2 a few times, NOW has been #1 in nearly every ratings period since they first signed on. In the last 2+ ratings, they were exactly three Share points above any other station.

Even UP has seen really good numbers in the not too distant past. Though they are currently into a nasty slide, I am sure that they are viewed by Pattison as having a lot of potential.

Two valuable properties in one of the richest, per capita, markets in Canada right now, thanks to the Oil Boom.
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Re: Pattison buys 9 stations from Rawlco

Postby Bigbangboom » Thu Jul 10, 2014 5:05 pm

jon wrote:Wonder if we'll ever know how much money changes hands in this sale.


Yes, the value will come out when it's gazetted. Always does.
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Re: Pattison buys 9 stations from Rawlco

Postby Howaboutthat » Thu Jul 10, 2014 5:10 pm

Bigbangboom wrote:
jon wrote:Wonder if we'll ever know how much money changes hands in this sale.


Yes, the value will come out when it's gazetted. Always does.


Even with two privately owned companies involved?
Houston, We're dealing with morons!.
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Re: Pattison buys 9 stations from Rawlco

Postby jon » Thu Jul 10, 2014 5:36 pm

Edmonton radio stations Now! and Up! sold to Pattison broadcast group
By David Howell, Edmonton Journal
July 10, 2014 5:33 PM

EDMONTON - The Jim Pattison Broadcast Group is acquiring Edmonton music stations 102.3 Now! and Up! 99.3 as part of a nine-station deal with Rawlco Radio Ltd. of Saskatoon.

“It’s just great for us to have this opportunity to be in Edmonton and bring our voice to the Edmonton market,” Rick Arnish, chairman of the Jim Pattison Broadcast Group, said Thursday. The deal, which is subject to regulatory approval, would see Pattison acquire three Rawlco stations in Prince Albert, Sask., three more in North Battleford, Sask., and another in Meadow Lake, Sask. Terms were not disclosed.

“It allows our company to continue to growing in the future,” Arnish said. “We’re acquirers, we’re not sellers. We think an awful lot about radio — it’s got a very bright future — and we’re looking to continue growing in Western Canada in particular.”

Now! ranked No. 1 in the Edmonton market, with an 11.4-per-cent share, in Bureau of Broadcast Measurement ratings published in June. Up!, with a 5.5-per-cent share, was in 10th spot among 18 stations measured.

Both stations play a diet of upbeat songs without focusing on a specific musical genre or era. Now! targets younger listeners while Up! appeals to older adults. Both put an emphasis on interactivity with audiences through social media.

“Rawlco has done a great job in creating these formats that have worked extremely well in Edmonton,” Arnish said. “We are going to learn from the team that’s there about how we can take some of the practices that they’re doing in Edmonton and apply them to some of our other stations in larger markets, or medium-sized markets as well, if that is possible.”

Management and staff won’t change at either station, and neither will the music and conversation, he said.

Arnish said he had tried to make a deal with Rawlco Radio’s CEO Gordon Rawlinson several times over the course of many years. Rawlco’s original station, CKBI in Prince Albert, is among the nine being sold. Rawlco will continue to own stations in Saskatoon, Regina and Calgary.

In a news release, Rawlinson praised Pattison’s reputation and commitment to current staff. “I am confident that these stations will be in very good hands,” he said.

The Jim Pattison Broadcast Group, headquartered in Kamloops, B.C., is a division of Vancouver-based The Jim Pattison Group, headed by billionaire Jim Pattison.

The deal is subject to approval from the Canadian Radio-television and Telecommunications Commission.

If approved, it would give Pattison a total of 13 radio stations in Alberta.

Earlier this year it acquired Calgary station CKCE from Bell Media and rebranded it 101.5 Kool FM. In April, Pattison launched a new Calgary station, 95.3 The Peak. Pattison also owns two stations in Lethbridge, two in Medicine Hat, two in Red Deer and others in Grande Prairie, Drayton Valley and Rocky Mountain House.
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Re: Pattison buys 9 stations from Rawlco

Postby Bigbangboom » Thu Jul 10, 2014 8:20 pm

Howaboutthat wrote:
Bigbangboom wrote:
jon wrote:Wonder if we'll ever know how much money changes hands in this sale.


Yes, the value will come out when it's gazetted. Always does.


Even with two privately owned companies involved?


Yes. The application to purchase will require comments. Several years back, Pattison attempted a purchase of CIGV Penticton ($4,000,000 was the offer). The deal was kiboshed due to common ownership. That was all public (the offer). Financials (rev/expense) are confidential but the offer is not. Wait for the Gazette.
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Re: Pattison buys 9 stations from Rawlco

Postby Bigbangboom » Thu Jul 10, 2014 8:22 pm

Any speculation on what 2 Edmonton, 3 North Battleford, 1 Meadow Lake and 3 Prince Albert would be worth?
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Re: Pattison buys 9 stations from Rawlco

Postby DirkSteele » Fri Jul 11, 2014 5:03 am

Bigbangboom wrote:Any speculation on what 2 Edmonton, 3 North Battleford, 1 Meadow Lake and 3 Prince Albert would be worth?


I'll put my money in the pool:

$25M for NOW
$12M for UP
$8M for the Saskatchewan stations

$45 Million for the lot. Plus or minus a couple million depending if Pattison takes the buildings Rawlco owns. Not sure if they own or lease Edmonton, but they definitely own the Saskatchewan buildings plus land the transmitters sit on.
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Re: Pattison buys 9 stations from Rawlco

Postby merlin » Fri Jul 11, 2014 6:09 am

I can't understand why Pattison didn't buy all the station's ?? That would give them Radio station's from Vancouver to Winnipeg just what they wanted . Granted Harvard will want Calgary so I guess the CRUZ FM will be coming here.
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Re: Pattison buys 9 stations from Rawlco

Postby pave » Fri Jul 11, 2014 6:50 am

I suppose there is a chance that Gord (Rawlinson) wanted more for the Calgary property than Pattision was willing to pay. UP suffers from an enormous lack of popularity and maybe the numbers just don't jell - today.
Should UP continue to falter, another offer might be acceptable at another time.
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Re: Pattison buys 9 stations from Rawlco

Postby Bigbangboom » Fri Jul 11, 2014 6:59 am

merlin wrote:I can't understand why Pattison didn't buy all the station's ?? That would give them Radio station's from Vancouver to Winnipeg just what they wanted . Granted Harvard will want Calgary so I guess the CRUZ FM will be coming here.


Pattison could not buy Calgary they are maxed
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Re: Pattison buys 9 stations from Rawlco

Postby Bigbangboom » Fri Jul 11, 2014 7:01 am

DirkSteele wrote:
Bigbangboom wrote:Any speculation on what 2 Edmonton, 3 North Battleford, 1 Meadow Lake and 3 Prince Albert would be worth?


I'll put my money in the pool:

$25M for NOW
$12M for UP
$8M for the Saskatchewan stations

$45 Million for the lot. Plus or minus a couple million depending if Pattison takes the buildings Rawlco owns. Not sure if they own or lease Edmonton, but they definitely own the Saskatchewan buildings plus land the transmitters sit on.


Reasonable total number to me - but I think the numbers individually would differ to me. The real estate can be deprecated from the total cost for calculating the tangible benefits.
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