This week’s spotlighted broker:
George Reed • Media Services Group
This interview was conducted by Sandi Bergman.
Sandi: What did you do before becoming a media broker?
Reed: I worked on the “station side” of the business. Specifically, I had just spent a decade (1977 – 1987) at WPLO/WVEE in Atlanta (Plough Broadcasting and then DKM Broadcasting), most of that as general sales manager. While in Atlanta, I also bought WJTT in Chattanooga with Jim Brewer (1986). And from 1982 to 1984, I got my MBA at Georgia State University in their Executive MBA program. Before Atlanta, I worked for Bill Stakelin for a couple of years in Orlando. And in my “childhood,” worked for Bud Walters and Jim Brewer.
Sandi: What influenced your decision to become a media broker?
Reed: Clearly, the banker’s hours and the lack of effort required. As you know, to become a media broker, only two things are required: 1) a good watch, and 2) a wife. And both have to work.
Sandi: Where do you see station sales today?
Reed: Off in the distance. Seriously, business is pretty good. The TV world is hot; and radio has become more active, albeit at lower price levels. A lot of the supply which built up during the recession has now been “worked off,” including most of the distressed situations. I predict steadily increasing station trading into the future.
Sandi: Highlight three or four listings that would be good opportunities for displaced station personnel and/or first-time entrants.
Arbitron rated resort market in the southeast. Three-FM cluster with over $300,000 in cash flow.
Three FMs and one AM cluster in the Mid-Atlantic region. Attractive, Arbitron rated market. Net revenue between $800,000 and $900,000, with positive cash flow.
3 FM cluster in southeast Georgia. Dominant competitive position. Owner will consider selling financing and will consult following the closing.
2 FMs in the deep South. Around $500,000 in revenue. Positive broadcast cash flow. Seller financing.
Media Services Group
149 Roscoe Blvd. South
Ponte Vedra Beach, FL 32082
Office: (904) 285-3239
Fax: (904) 285-5618
Cell: (904) 631-7093