KGMB - KHNL - KFVE "shared services agreement"

[foolish heart]

Re: KGMB - KHNL - KFVE "shared services agreement"

If I remember right whomever brought the tower down didnt even have a contractors license. I believe that was Lynne Russell's last day at the station and she along with cameraman Harry Alama covered that story.

Aj

Oh boy, thank goodness no one got hurt.

I imagine KGMB is gonna need one of those massive cranes for construction or something similar to bring that tower down piece by piece.

Probably gotta close that section of the street, behind the station too.

Dunno but it will be a very sad day indeed.

[Kalihiboy]

Re: KGMB - KHNL - KFVE "shared services agreement"

Whoa! I don't remember this!

I must have been living on the mainland at the time.

If I remember right whomever brought the tower down didnt even have a contractors license. I believe that was Lynne Russell's last day at the station and she along with cameraman Harry Alama covered that story.

Aj

[foolish heart]

Re: KGMB - KHNL - KFVE "shared services agreement"

Taking the old antenna down will be something sad to see, hopefully they won't have the same problems that KHON did when their antenna crashed onto parked cars with people inside them in 1980.

Aj

Whoa! I don't remember this!

I must have been living on the mainland at the time.

[Kalihiboy]

Re: KGMB - KHNL - KFVE "shared services agreement"

That's what I figured.

I wonder if they will keep the historic coconut tree that still growing out of the roof, or will that piece of KGMB's past be swept away?

Taking the old antenna down will be something sad to see, hopefully they won't have the same problems that KHON did when their antenna crashed onto parked cars with people inside them in 1980.

Aj

[Kalihiboy]

Re: KGMB - KHNL - KFVE "shared services agreement"

Cec has been in ill health the past couple of years. So I don't think so.
You'd be surprise at the amount of liquid capital that is available locally. Until recently it's been in real estate.

I think Cec was on the Board of Education until last year. He did appear on the KGMB tribute special to Bob Sevey a few months back. At 84, I'm sure he as well as former KHVH owner Lawrence "Bob" Berger don't want to jump back into things because it's a different business now compared to back then.

Aj

[foolish heart]

Re: KGMB - KHNL - KFVE "shared services agreement"

A high-rise condo from what I have heard.

Aj

That's what I figured.

I wonder if they will keep the historic coconut tree that still growing out of the roof, or will that piece of KGMB's past be swept away?

[Media Guy]

Re: KGMB - KHNL - KFVE "shared services agreement"

"I will repeat my point again: what business does MCG Capital, an investment firm, have in purchasing Top 100 market broadcast television affliate? This was a real estate deal from day one, and I’m not sorry MCG got burned. I am sorry that the good people at KGMB9 had to endure the greed of Emmis Communication, who probably had an inkling of MCG’s agenda."


Well, most large station groups are financed by investment banks or venture capital firms now days.
MCG provided the funding to Greenlaw-Marshall Communications LLC, principals were Douglas Greenlaw, Chief Operating Officer and director Gary Marshall. They are both experienced broadcast executives, and the plan was to purchase several more stations, except of course the economy tanked which resulted in their revenue projections for KGMB being off by a couple million dollars a year among other things.

[Kalihiboy]

Re: KGMB - KHNL - KFVE "shared services agreement"

I'm curious about KGMB's Kapiolani property and what will be built there eventually.

A high-rise condo from what I have heard.

Aj

[TuNnL]

Re: KGMB - KHNL - KFVE "shared services agreement"

As Random, Dale and Foolish Heart have illustrated, you’ve misinterpreted Bob and Jade’s point. Most working in the industry (and those retired from it) are well aware that ad revenue sustains t.v. news departments. What you seemingly fail to acknowledge, is that even though there was less of it made this past year, KGMB still made a profit.

Well Tunnl, it's hard for me to take any of your points seriously when the very foundation of your arguments is one that is open to question and doubt.

In broadcasting, profit is a close relative called Broadcast Cash Flow (BCF). While the station had a positive BCF, if wasn't servicing its debt or return on investment, therefore wasn't profitable.

The station didn't lose $6 million. MCG Capital wrote down $6 million on the value of its investment in KGMB. That combined with the sale of the station's over 40,000 square foot property and building, which was one of KGMB's most valuable assets, that devalued the station by another $12 million.

So, MCG capital saw a $18 to $20 million loss on its $40 million investment.

Thanks, Media Guy, for helping Frankie and A.J. with the details they either choose to ignore, or simply unable to comprehend. Pacific Business News puts it in more general terms, if you are still confused:

We’re talking about KGMB, the CBS affiliate, which has been on the rise in the ratings but hasn’t produced revenue adequate to cover both operations and the debt associated with its 2007 purchase by a Mainland investor.

I will repeat my point again: what business does MCG Capital, an investment firm, have in purchasing Top 100 market broadcast television affliate? This was a real estate deal from day one, and I’m not sorry MCG got burned. I am sorry that the good people at KGMB9 had to endure the greed of Emmis Communication, who probably had an inkling of MCG’s agenda.

[foolish heart]

Re: KGMB - KHNL - KFVE "shared services agreement"

I'm curious about KGMB's Kapiolani property and what will be built there eventually.

[Media Guy]

Re: KGMB - KHNL - KFVE "shared services agreement"

In this economy, is it possible for any local entity to raise the necessary capital?

Wouldn't it be something if Cec Heftel got back into the broadcasting biz here?

Cec has been in ill health the past couple of years. So I don't think so.
You'd be surprise at the amount of liquid capital that is available locally. Until recently it's been in real estate.

[Frankie's Market]

Re: KGMB - KHNL - KFVE "shared services agreement"

You never know, maybe a local hui could even make an offer

In this economy, is it possible for any local entity to raise the necessary capital?

Wouldn't it be something if Cec Heftel got back into the broadcasting biz here?

[Media Guy]

Re: KGMB - KHNL - KFVE "shared services agreement"

Who would buy KGMB? New Vision TV (owner of KHON2) or Hearst (owner of KITV4)? Another outside media group?

There are still plenty of large station group owners out there; Lin Broadcasting, Gray, Barrington, Young, Fisher, etc.

One of them would pick it up, but at a multiple of BCF (broadcast cash flow). MCG Capital paid an inflated price because of the land. It was an non-broadcaster mistake seeing the purchase of KGMB as a land deal.

You never know, maybe a local hui could even make an offer

[Kalihiboy]

Re: KGMB - KHNL - KFVE "shared services agreement"

Who would buy KGMB? New Vision TV (owner of KHON2) or Hearst (owner of KITV4)? Another outside media group?

New Vision is in no position to buy anything after filing for bankruptcy:

http://www.starbulletin.com/business...tml?page=1&c=y

Hearst wouldn't either because we would be back in the same mess again with one owner owning two stations.

It's really too bad none of the stations are locally owned, but I doubt most stations, radio or tv are locally owned anymore.

Aj

[Random]

Re: KGMB - KHNL - KFVE "shared services agreement"

While its not a plan, if the SSA is stopped or meets with too much resistance, MCG Capital would sell KGMB.

Who would buy KGMB? New Vision TV (owner of KHON2) or Hearst (owner of KITV4)? Another outside media group?