Fargo/Moorhead radio changes
Big changes in the radio market here today.
Jim Ingstad sold Radio Fargo Moorhead to Midwest Communications for $25 million. Stations include KFGO 790; 740 AM (The Fan); WDAY 93.7 FM (Y94); KBVB 95.1 FM (Bob 95); KRWK 101.9 FM (Talk FM); KMJO 104.7 FM (Popster FM)
Triad Broadcasting sold 6 local stations plus 26 in other markets to L&L Broadcasting for $21 million. Stations include KQWB 1660 AM (True Oldies); KPFK 107.9 FM (The Fox); KLTA 105.1 FM; KVOX 99.9 FM (Froggy); KBMW 1450 AM; and KQWB 98.7 FM (Q98)
L&L Broadcasting then sold the 6 local stations above that it just bought yesterday to Jim Ingstad for $9.5 million.
http://www.inforum.com/event/article/id/398311/
I think we might see another bid to broadcast Bison games next time the rights are up for bid.
Re: Fargo/Moorhead radio changes
wow there might be a bidding war. you hope kfgo would want to keep bison sports. you know Ingstad is a huge Bison supporter and would bid. and you also would expect that 970 WDAY would want bison sports back.
this is good for the fans and the program
Re: Fargo/Moorhead radio changes
Amazing that Midwest didn't have a non-compete clause in the sale with Ingstad....stupid question maybe, but have WDAY FM and AM always been owned by separate companies?
Re: Fargo/Moorhead radio changes
Quote:
Originally Posted by
GCWaters
....stupid question maybe, but have WDAY FM and AM always been owned by separate companies?
No.............
Re: Fargo/Moorhead radio changes
Nothing like selling 6 stations, buying 6 stations, and ending up with $15.5 million in you pocket when the dust clears.
Re: Fargo/Moorhead radio changes
Quote:
Originally Posted by
roper1313
Nothing like selling 6 stations, buying 6 stations, and ending up with $15.5 million in you pocket when the dust clears.
Not only that he'd sold them previously to clear channel, then bought them back for cheap when the market for stations tanked (somewhere around 10-11 mill sticks in my head? after he'd sold them for $20 mill??? not sure the exact #s)
Re: Fargo/Moorhead radio changes
Quote:
Originally Posted by
1998braves64
Not only that he'd sold them previously to clear channel, then bought them back for cheap when the market for stations tanked (somewhere around 10-11 mill sticks in my head? after he'd sold them for $20 mill??? not sure the exact #s)
This was in the Forum story:
Quote:
In 2006, Ingstad bought back the six stations that would become Radio Fargo-Moorhead for $14 million from Clear Channel Communications, after selling the cluster in 2000 for $46.5 million.
Re: Fargo/Moorhead radio changes
Best thing to happen to local radio in a long time! Jim's a huge Bison rube who will invest into the local product. Not only that, he'll put people involved who will make these stations incredibly successful! On a personal level, Jim's seriously just a really good dude and cares about the Fargo Moorhead area.
