This from todays R&R:

------------Atsinger: Salem Will Sell Underperforming Stations-------------

Christian-and family-themed Salem Communications will sell its underperforming radio stations, if it determines the stations can't be improved enough in their current formats or through a format change, to achieve a better bottom line, Salem CEO Edward Atsinger said.

The veteran radio executive surprised Wall Street analysts who had called into a late-Wednesday afternoon conference call to discuss third-quarter financial results when he explained that the company’s recent top-level management realignment has given him the opportunity to take a creative look at Salem’s “entire portfolio.” He said he “cannot articulate with great specificity” what details he is looking at and what criteria he will use to make decisions -- Salem mostly sells brokered programming and, unlike most radio stations in the country, usually does not rely on Arbitron ratings to help sell its stations’ airtime.

“It is difficult for me to get into too much detail,” he responded to one analyst’s question about the methodology he is using to cull the Salem herd to improved profitability. But he did note that he will look at an asset’s value, the investment Salem has into it, and seek deals “where the buyer pool is most significant.”

Some 30 stations, a considerable portion of Salem’s radio platform, are in the news/talk format. However, while the format increased its revenues during the third quarter by 1%, the stations still only contribute 13% to the company’s total revenues. Salem’s Los Angeles N/T outlet, KRLA, the most-discussed station on the call for its disappointing performance, may be primed for considerable tweaking or tossing to a new operator.

Based in Camarillo, Calif., Salem will own 98 radio stations, including 59 stations in 22 of the nation’s top 25 markets, when it closes on its latest deal, the $12.25 million purchase of Radio One’s WTPS-AM/Miami (Salem took control of the station Oct.18 through an LMA). It also owns radio networks and popular Christian-themed Internet sites, along with being a publisher of books and magazines.

Meanwhile, Salem reported that its broadcasting unit had a net revenue decrease of 1.2%, from $52.5 million to $51.9 million, in the quarter ending Sept. 30. Station operating income fell 7.3%, from $20.7 million to $19.2 million, while same-station net broadcasting revenue was off slightly, 0.7%, from $51.2 million to $50.8 million. Total Q3 revenue for Salem increased 0.3%, from $57.9 million to $58.1 million, and operating income was off 8.3%, from $11 million to $10.1 million. Salem earned 3 cents per share for the quarter, compared to 9 cents the previous year.

© 2007 Radio & Records (R&R). All rights reserved.

Is KPDQ a big money-maker?

Radioxpert-

I think they do. All those teaching/preaching programs pay to be on the air. In the case of some of the national shows they do pay a premium based on market size. Basically KPDQ has built in revenue. Any advertising they do on top of that is icing in many ways.

KPDQ's numbers don't reflect listener loyalty, which is very strong. Some advertisers do very well on KPDQ because of that loyalty.

If KTRO is a question mark, I have to wonder about KPDQ-AM!

> If KTRO is a question mark, I have to wonder about KPDQ-AM!

I had wondered this myself. It appears that when the previous KTRO-FM signed on, the syndicated talk shows, like Michael Medved, were moved there from KPDQ-AM. If you look at the KPDQ-AM schedule today ( http://www.kpdq.com/ttprogramming.asp ), most of the programming appears to be ministry-type programming, which is very likely paid programming.

This from todays All Access:

-----------CEO Says Salem Talking Over Sale Of Some Stations------------
Is SALEM looking to sell some stations? Responding to analysts' questions at the company's post-earnings conference call WEDNESDAY, CEO ED ATSINGER said that the company is "actively engaged" in selling off underperforming stations, although he would not be specific about which stations might be on the block.

The company is also buying, as in the recent acquisition of WTPS-A/MIAMI from RADIO ONE, but ATSINGER's comment is the first indication that the company might have some properties available as well.

KTRO is still on the air???

It's the "Not-So-Ninety-One-derful KTRO."

does anyone know if Salem even OWNS 910? I dont remember seeing a sale finalized on R&R after they LMA'd it.

As for KPDQ-AM...one would have to assume its cheaper to run than KPDQ-FM, and features the same type paid ministry programs, which leads me to think they probably at least turn a profit, which would seemingly save them from being divested.

From Market Watch.com:

On January 31, 2007, the Company entered into an agreement of sale and a TBA with Salem Communications Holding Corporation to dispose of KTRO-AM (formerly KKSN-AM) in Portland, Oregon for at least $4.2 million in cash. Salem commenced operations of KTRO-AM on February 1, 2007 under a TBA. Upon completion of this transaction, the Company will continue to own six stations in the Portland market.

104.1
93.9
93.1
800
910

What is the sixth station? I am confused.

They are talking about Entercom still having six stations. Read it again genius

Upon completion of this transaction, the Company will continue to own six stations in the Portland market.
They are talking about Entercom still having six stations.
For those that are confused, these are the six stations being referred to:
92.3 KGON
94.7 KNRK (94-7 fm)
97.1 KYCH (Charlie)
99.5 KWJJ (The Wolf)
105.1 KRSK (The Buzz)
1080 KFXX (The Fan)
1390 KKSN Salem (repeats 1080 The Fan)

Hmm... I just realized that they technically still have 7 stations in the market, but one is in Salem, so I guess they aren't counting that in their count.

I have to admit that I'm not firing on all 8 cylinders this week, but it wasn't very clearly stated in the article thet they were referring to Entercom. I thought "The Company" referred to Salem. Why the hell didn't they just say "Entercom" instead of "The Company"?! Did MarketWatch do the crappy, cheesy bush league route and just print Entercom's press release verbatim?

Sounds kind of cryptic...

Like a secret society with a secret moniker...when a new member is getting initiated and the current members are holding the pledge's head underwater:

"You're not gonna say the name of The Company are you...the name Entercom will not be spoken of amongst outsiers!!! We will rip out your tongue and scatter your entrails if you so much as mention the name of E n t e r c o m..."

I don't blame Qpatrick for being confused; this was a poorly written article. When I first read it, my reaction was, "huh?" The use of the phrase "the Company will continue to..." suggests no change in amount of stations owned. The story should have said: "After the completion of this transaction, Entercom will own..."

I might have caused the confusion by lifting out the information from the greater part of the article:

http://72.14.253.104/search?q=cache:ZoEaNKuqJzIJ:www.tradingmarkets.com/.site/ne ws/Stock%2520News/807114+KKSN+Entercom+%22Salem+Communications%22&hl=en&ct=clnk& cd=4&gl=us

Although the paragraph could have been written differently to make it appear clearer, there was nothing wrong with what was written. It is written correctly and isn't really confusing.

It said "the company" entered into an agreement with Salem Communications. Therefore, the "company" is not Salem Communications. It further stated that the company was disposing of the station. Salem is not disposing it, they are acquiring it.

The last sentence is not confusing. When you write, you state what is left after disposing of something if you are the disposer. If you are the acquirer, it would have been written that after the acquisition, you would now have X amount.

I know that most who post on this board don't think it is important to spell correctly or use the correct word because we all know what you mean. This is a perfect example of why spelling, grammar, etc., are important.

Having said that, we are also taught to write so that it is understood by someone with maybe a fourth grade education. That is not asking for much. Perhaps Market Watch feels their readers have a higher level of education and mastery of the English language.

Actually it not confusing at all, it's a press release by Entercom Communications Corporation. When you quote from it you need to explain it as such.