Ahead of its acquisition of AC “101.1 More-FM” WBEB Philadelphia, Entercom has begun operating the station via Time Brokerage Agreement. In an internal memo Entercom Philadelphia SVP/Market Manager David Yadgaroff wrote, “I am excited to welcome WBEB, one of the country’s most recognized and awarded stations, to our portfolio of Philadelphia radio stations. he addition of WBEB will be a great complement to our lineup that already includes KYW Newsradio 1060, SportsRadio 94WIP, WTDY (96.5 TDY), 98.1 WOGL and Talk Radio 1210 WPHT.” Entercom agreed to acquire WBEB from Jerry Lee Broadcasting last month for $57.5 million and concurrently spun off Country 92.5 WXTU to Beasley Media for $38 million.
Last week I heard rumblings of a major deal coming in Philadelphia but couldn’t narrow specifics of who was involved. In nearly every logical scenario I ran through in no way would the three-way deal between Beasley Media, Entercom, and Jerry Lee Broadcasting announced today have even entered the thinking. Up until the dueling press releases were sent this morning I would have labeled it as the type of fantasy deal making you would find on a message board and maybe not there. But it makes sense on multiple levels. Entercom gets the crown jewel of its home market, while Beasley gets back a station it owned for over thirty years and was one of its major market acquisitions as both companies increase their revenue concentration as the last big FM standalone in any major market finally c...[Read More]
Entercom has announced it is growing its Philadelphia cluster with the purchase of Jerry Lee Broadcasting’s market leading AC “101.1 More-FM” WBEB for $57.5 million. The deal marks the end of WBEB’s run as one of the last independently owned and operated major market FM. Jerry Lee and Dave Kurtz founded the station in 1963. Lee bought out the estate of his partner in 2005 leading to his default on the $65 million note in 2015 and a transfer of control to Sam Zell’s Zell Credit Opportunities Fund LP, however Lee continues to serve as president of the company. To make room in its Philadelphia cluster, Entercom will divest Country 92.5 WXTU to Beasley Media for $38.0 million. Beasley owned WXTU until it swapped its first Philadelphia cluster to CBS Radio in 2014....[Read More]
Jerry Lee Broadcasting AC “101.1 More-FM” WBEB Philadelphia has filled its vacant afternoon opening with longtime Philadelphia radio veteran Mark Shepperd. Shepperd previously worked at WBEB in 2012 as a production assistant and weekend host. He has worked at Hot AC “Star 104.5” WYXR, CHR “Q102” WIOQ, Country 92.5 WXTU, and Sports 610 WIP as well as serving as Clear Channel’s cluster Production Director in the Philadelphia market as well as WLEV Allentown and WKXW Trenton NJ in his career. He fills the opening created by Logan’s move to mornings at 96.9 WINK-FM Fort Myers FL earlier this summer. Today’s 101.1 MORE-FM/WBEB Philadelphia has filled its vacant Afternoon Drive position with market veteran, Mark Shepperd. “I am extremely excited, t...[Read More]
AC “101.1 More-FM” WBEB Philadelphia has appointed Logan as their new afternoon host starting Monday, April 11. Logan has spent much of his radio career in the Philadelphia market hosting afternoons at CHR “Q102” WIOQ as Joe Mama from 2000-2004 and Morning host/APD/MD at Hot AC “Mix 106.1” WISX from 2006-2014. He joins WBEB from Cumulus Fort Walton Beach FL where he was programming AC “Coast 93.3” WNCV and News/Talk 1260 WFTW as well as hosting mornings at WNCV. He has also worked at WTIC-FM and WKSS Hartford, WUBT Chicago, KDMX Dallas and WHTZ New York as Freddie Vedder. Logan replaces Dave Moore who exited the station in February.
Zell Credit Opportunities Fund is taking over controlling interest in Jerry Lee Broadcasting. Jerry Lee Broadcasting is the owner of AC “101.1 More-FM” WBEB Philadelphia. The transaction filed with the FCC is setup to give the creditor control of the company’s Board of Managers by increasing its membership from three to five people due to default on a due loan and giving it managing control of the station. The credit agreement included in the FCC filing indicates that the filing is the first step towards an eventual sale of the station. The new Manager is authorized by the contract to “retain an investment banker, open a data room and to populate it with all customary due diligence materials and open such data room up to potential bidders, and to take other prelimin...[Read More]
The start of the new calendar year is one of the busiest times of the year for format changes. Between December 21, 2012 and January 8, 2013 we logged 58 format changes and this year is already shaping up to be busy. Changes That Have Taken Place 1/6: Variety Hits “98.7 The Peak” KPKX Phoenix flips to Sports simulcasting “Arizona Sports 620” KTAR 1/6: “Rock 92.3” WRKN New Orleans flips to Country “Nash-FM 92.3” 1/6: 95.7 WXDJ Miami relaunches as Spanish Hot AC “I95” following move of previous format to 106.7. 1/6: Liberal Talk 1600 WWRL New York flips to Regional Mexican “La Invasora” 1/6: 1290 WPCF/93.9 W227CE Panama City flip to Dance “93.9 Play-FM“. 1/3: Soft AC/Oldies “1320/1450 The Dove” WD...[Read More]
Update 12/26: WBEB ended its Christmas music run and launched its new “More-FM” branding at the odd time of 3:00am as it segued from Andy Williams’ “Its The Most Wonderful Time Of The Year” to Katy Perry’s “Teenage Dream”. Original Report 12/10: Jerry Lee will rebrand AC “B101” WBEB Philadelphia as “101.1 More-FM” on Thursday, December 26. The rare change at a station ranked at the top of the market comes to better align the station with its “More Music, Less Talk” branding WBEB has been unafraid to rebrand a successful station in the past as it shifted from “EZ 101” to “B101” in 1993. WBEB began using the “More-FM” brand on its HD2 subchannel earlier this year following ...[Read More]
Update 5/17: More details on the More brand: WBEB Philadelphia has rebranded its All-80’s HD2 subchannel as “More-FM” to prevent the brand from being picked up elsewhere. WBEB pulled a similar move in 2007 by inserting the “Fresh” moniker in its positioning. Domain registrations have been made for 951MoreFM.com, More95.com, More951.com, More95FM.com, MoreFMFortWayne.com, MoreFortWayne.com, and MoreFtWayne.com. That would make Sarkes Tarzian AC “Majic 95.1” WAJI Fort Wayne the likely destination of a refresh to the “More-FM” brand. As our commenter below noted, Moyes has been sending out legal notices that he is now the owner of the “More-FM” brand and any use of the name must go through him. InsideRadio reports that Bill Moy...[Read More]