This week’s spotlighted broker:
Edward F. Seeger • Seeger Media, LLC
This interview was conducted by Sandi Bergman
Sandi: What did you do before becoming a media broker?
Seeger: I worked in radio for the past 48 years, starting out as an announcer then moving on into programming, sales, management and then ownership. Founded several companies that provided services to the industry including American Media Services, LLC which was a radio development and brokerage firm. Then founded digital companies including www.theradio.com and then two years ago formed Seeger Media, LLC www.seegermedia.com which is focused on radio brokerage, consulting and digital platforms for radio and for major brands.
Sandi: What influenced your decision to become a media broker?
Seeger: While running American Media Services, LLC as president and CEO of that company, I found myself negotiating the sale of all of our major developmental projects in markets like New York, Denver, Houston and smaller markets around the country. During this time I was responsible for over $300 million dollars in sales or asset enhancements for radio stations. It was a natural progression after the FCC changed the rules in the Allocations Branch of the FCC making it extremely difficult if not impossible to continue to provide those developmental services to the industry to focus on radio brokerage. The experience I had in dealing with some of the largest broadcast groups in the country and negotiating station modifications with owners all over the country gave me the encouragement to tackle brokerage by myself with the help of my wife Kim.
SANDI: Where do you see station sales today?
Seeger: The market is “difficult” today because of the current economy and multiples which require extra effort to find sellers and then buyers who have funding to purchase stations. It can be done and there are some excellent opportunities available where owners are willing to offer creative financing for buyers because it is in most cases not available from banks who for the most part have left this sector. It’s dictated by the need of the seller to exit and the desire of the buyer with experience to move into ownership. It is more difficult today because of these circumstances but not impossible to still connect buyers and sellers.
Sandi: Highlight three or four listings that would be good opportunities for displaced station personnel and/or first-time entrants.
Seeger: Ideally financing of some sort to provide decent down payments and operating capital for someone who has years of experience operating radio stations. Seeger Media, LLC can if that is available introduce markets and opportunities like these to the equation:
1) Texas Cluster – $3 million + BCF, market leading stations, well established and growing. Buyer will need to purchase at a competitive multiple of cash flow.
2) Alabama – Cluster of two FMs and a heritage AM in one of the finest college towns in the US. – Seller will work with experienced broadcaster to enter into ownership with either creative financing or LMA to ease into them.
3) Florida – Sunshine state AM stations in Tampa, Orlando and the Space Coast. Motivated seller will LMA or offer creative financing to broadcasters experienced enough to make them work.
4) Texas – Cluster of stations in small East Texas market where owner/operator is ready to retire. Experienced operator could step in and make this his home and continue to build on what is already established. Willing to work with the right buyer to make it work for both parties.
Edward F. Seeger
Seeger Media, LLC
1644 Omni Blvd
Mt. Pleasant, SC 29466
Sandi Bergman is the CEO/president of RadioTVDeals.com. She can be phoned at 575-356-3644 or emailed at Sales@RadioTVDeals.com.