Jerry Proctor • The Proctor Group, Inc.
This interview was conducted by Sandi Bergman
Sandi: What did you do before becoming a media broker?
Proctor: I’ve been involved in the communications industry since 1948 and in station ownership since 1961. During the intervening period and through various companies, I have owned AM, FM, TV and LPTV stations as well as cable TV and paging systems. Over 20 years ago, I started The Proctor Group, Inc. as a full service broadcast brokerage firm….however, I have continued my involvement in station ownership also. I still own four stations and am still active in station brokerage.
Sandi: What influenced your decision to become a media broker?
Proctor: It was a hill I hadn’t climbed; so, I climbed it! Seriously, a friend asked me to join him in a broadcast brokerage firm in Colorado. I told him that I knew nothing about broadcast brokerage but he said what I didn’t already know, he would teach me….and he did. As they say, the rest is history.
Sandi: Where do you see station sales today?
Proctor: Television is undergoing a consolidation revolution such as occurred in the radio business a few years ago. Consequently, television station prices are returning to pre-recession levels and the consolidations continue with prices still climbing. Radio is still suffering some of the lingering effects of the recession. Station prices are recovering but that part of the broadcast industry is being held back due to the lack of available financing. That’s one of the reasons you see so many LMA opportunities….many with purchase options attached. The larger and dominant companies in radio are primarily trading among themselves with some small amount of consolidations continuing. That leaves the lower tier of stations more available to smaller operators. Many owners in this tier of stations are now retiring and want to sell. I view NOW as being an excellent time to acquire those stations….if the buyer can find the financing to buy. Unfortunately, a buyer today MUST have more than two nickels to rub together if they’re going to boot-strap a station purchase!
Sandi: Highlight a couple of listings that would be good opportunities for displaced station personnel and/or first-time entrants (see more about these listings that I have posted on RadioTVDeals.com).
1) Texas AM station with FM translator — $15,000. Station is currently silent with FCC permission. All equipment necessary to go back on the air is included except for the tower. Station lost its tower site to progress and must relocate. This is the only station licensed in the county and is located in the county seat. Station could be put back on the air under an STA with a long-wire antenna fairly quickly. This will give the Buyer time to build a permanent facility. Time is of the essence.
2) Texas Panhandle “C-2” with all new equipment — $600,000. Newly built with all new transmission and monitoring equipment. Station is operational from a leased tower. Excellent up-side. Whether this is your first station; or, is one of many now, is the time to make your move. Motivated absentee owner has other interests out-of-state.
The Proctor Group, Inc.
137 Magnolia Bend Dr.
Livingston, Texas 77351