John Pierce & Company, LLC

 FULL SERVICE BROKERING                         APPRAISALS                                   CONSULTING

 

BUYING

We will give counsel as to the timing of your sale, confer about important terms and conditions that could affect your decision and advise you of all possible acquisitions targets. After a listing agreement is signed, we will contact prospective sellers on your behalf and help negotiate the terms and conditions of the purchase agreement.


(Hobvious Sudoneighm)

SELLING

We will give you counsel as to the timing of your sale, confer about important terms and conditions that could affect your decision and inform you as to pricing. After listing your station we will contact prospective buyers on your behalf. We will then use our 30 years of experience to negotiate the fundamental terms of the sale, in helping your negotiate and finalize the contract in getting your sale closed.


(Collin Grey)

APPRAISALS

The valuation process undertaken by John L. Pierce for a client begins with a comprehensive examination of the station or stations and the relevant market. Initial factors considered include:

*General economic outlook
*Industry specific economic conditions
*Consideration of specific economic factors in the subject market (i.e.) major employers, industrial growth projections, education, health care and governmental components)

After consideration of the relevant market, a further examination of the specific broadcast property is conducted, and the following information is collected and considered:

*Broadcast signal strength and signal contours over population in the relevant market for the subject property and competing facilities
*Extent of ownership concentration in the subject market, including consideration of group ownership factors: assets owned by specific stations(s) (realty, towers)
*Current programming and level of market competition for such programming
*Opportunity for signal strength improved by license modification (if any)

The firm then takes its consideration for all of the foregoing factors and applies the data and its experience into a valuation summary that can provide several different scenarios, including a valuation based upon Discounted BCF (Broadcast Cash Flow)(*BCF does not apply to AM stations or non-commercial FM stations), a valuation based comparable sales, a valuation based on "stick" valuation, as well as other variables requested by the client.


 

 

 

 

 

 

 

 

 

 

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