way deal in New York for Class B classical FM WQXR in the countrys
largest market. From atop the Empire State Building, WQXRs signal
contour reaches 15,367,000 people, suggesting a station metric of only
$2.93 per-person a very low number even by recent historical
standards.
Appraiser David Schutz tells Inside Radio, Its still a painful pill
to swallow in the new reality. He believes it puts last years two
much-talked about Los Angeles deals into perspective. Radio One sold
urban AC V-100 KKBT (100.3) to Bonneville for $137.5 million. More
recently Emmis struck a rent-to-own $110 million sale of rhythmic AC
Movin KVMN (96.9) to Grupo Radio Centro. With New Yorks WQXR going
for just a fraction of that, Schutz says it seems to be a continuation
of the downward trend in major market valuations.
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