Friday, June 23, 2000

What's the Buzz?

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Regent group expands markets

By John Eckberg
The Cincinnati Enquirer

        The theory is to stack the sticks — that is, buy radio stations in the same market that have flat revenues and then make those sticks into a bundle by offering a group buy to advertisers.

        Through the 1990s, the strategy paid dividends for national radio conglomerates in top 50 markets like Clear Channel Communications and the former Jacor Communications.

        Covington-based Regent Communications Inc. plans to bring that same strategy to smaller, overlooked markets in the years to come. The first volley came this week when Regent paid $5 million for three stations in St. Cloud, Minn., the nation's 216th-largest revenue market.

        “We will be looking to do that in several other markets where we have a footprint,” said Terry Jacobs, chairman, chief executive and treasurer of Regent.

        “These were underdeveloped properties but very good signals, and we think we can do a lot more with them.”

        When the transaction for the stations — two FM and one AM signal — closes before the end of 2000, Regent will be in 10 markets and control 44 stations.

        Have a tip? Give business editor Richard Green a call at 768-8477 or e-mail rgreen@enquirer.com.

       

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