St. Barnabas acquires more radio properties
September 7, 2021The Beaver County Times reports that St. Barnabas Broadcasting has signed an agreement to purchase local stations WBVP (1230 Beaver Falls) and WMBA (1460 Ambridge) from Sound Ideas Media. Present owner Mark Peterson and the entire staff will remain on staff.
Earlier this year, St. Barnabas acquired WJAS (1320) from Frank Iorio’s Pittsburgh Media Partners for $2 Million. The deal for the Beaver County properties – which Iorio ironically owned prior to selling to Peterson – has not been disclosed. There is also no indication of what, if any, program changes are in the works.
St. Barnabas Broadcasting is an offshoot of the Health System based in Gibsonia with several retirement living and healthcare facilities in the Allegheny, Beaver and Butler County area.
According to Radioinsight.com they paid $2.3 million for the stations. Even with FM translators in the mix that is a fairly absurd amount of money for Beaver Falls and Ambridge signals. Ambridge is probably worth $50K if that. They paid $2 mil for WJAS, which, even in a large market, is too much for a standalone AM. Not sure what the St. Barnabas people think they’re getting in these deals…
AM Radio is Alive in Western Pa ,August 2014 WJAS Sold for 1 Million Dollars November 2020 it sold for 2.05 Million. Feb 2014 WBVP and WMBA sold for $750,000 , Sept 2021 they sold for $2.33 million, and WMBA was downgraded from 500 watts fulltime to 120 watts day 110 watts night. Radio TV Deals is listing an AM station with Translator in Westmorland County for $275,000.