Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
SUF-DPR-Report-8-30-2012

SUF-DPR-Report-8-30-2012

Ratings: (0)|Views: 61 |Likes:
Published by bmook6419
2012 consultant's report by Public Radio Capital for Delmarva Public Radio
2012 consultant's report by Public Radio Capital for Delmarva Public Radio

More info:

Published by: bmook6419 on Sep 27, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

11/29/2012

pdf

text

original

 
 
Salisbury
 
University
 
Foundation
 
Consulting
 
Report
 
August
 
30,
 
2012
 
Dennis
 
Hamilton,
 
Director
 
of 
 
Consulting
 
 
1
 
EXECUTIVE
 
SUMMARY
 
The
 
Salisbury
 
University
 
Foundation
 
(“SUF”)
 
hired
 
Public
 
Radio
 
Capital
 
(“PRC”)
 
in
 
May
 
of 
 
2012
 
to
 
assist
 
in
 
due
 
diligence
 
analysis
 
of 
 
the
 
performance
 
of 
 
WSCL
FM
 
and
 
WDSL
FM
 
(the
 
“Stations”)
 
operated
 
under
 
Delmarva
 
Public
 
Radio
 
(“DPR”)
 
and
 
to
 
make
 
recommendations
 
concerning
 
future
 
radio
 
operations.
 
PRC
 
has
 
created
 
a
 
business
 
model
 
that
 
demonstrates
 
the
 
present
 
public
 
service
 
and
 
financial
 
profile
 
of 
 
the
 
Stations
 
along
 
with
 
projections
 
of 
 
various
 
strategic
 
scenarios.
 
In
 
addition,
 
PRC
 
Director
 
of 
 
Consulting,
 
Dennis
 
Hamilton
 
visited
 
the
 
Stations,
 
SUF
 
and
 
Salisbury
 
University
 
(“SU”)
 
where
 
he
 
presented
 
initial
 
findings
 
and
 
elicited
 
ideas
 
and
 
comments
 
concerning
 
the
 
future
 
of 
 
the
 
Stations.
 
As
 
part
 
of 
 
its
 
consulting
 
work,
 
PRC
 
analyzed
 
the
 
following
 
strategic
 
options:
 
Status
 
Quo
 
Scenario:
 
This
 
scenario
 
provides
 
a
 
long
term
 
outlook
 
for
 
the
 
Stations
 
without
 
any
 
major
 
change
 
in
 
ownership,
 
programming
 
or
 
organizational
 
structure.
 
PRC
 
does
 
not
 
recommend
 
the
 
Status
 
Quo
 
scenario
 
as
 
the
 
operation
 
of 
 
DPR
 
is
 
not
 
sustainable.
 
Scenario
 
1:
 
This
 
scenario
 
assumes
 
that
 
WSCL
FM
 
will
 
remain
 
a
 
classical
 
music
 
format
 
and
 
SUF
 
will
 
sell
 
WSDL
FM.
 
Given
 
the
 
limited
 
market
 
for
 
WSDL
FM
 
and
 
limited
 
revenue
 
and
 
listening
 
potential
 
for
 
WSCL
FM,
 
improving
 
that
 
station’s
 
performance
 
is
 
very
 
unlikely.
 
Therefore,
 
PRC
 
does
 
not
 
recommend
 
Scenario
 
1.
 
Scenario
 
2:
 
This
 
scenario
 
assumes
 
that
 
WSDL
FM
 
will
 
become
 
a
 
repeater
 
service
 
for
 
WSCL
FM.
 
Our
 
analysis
 
demonstrates
 
that
 
this
 
model
 
is
 
not
 
viable
 
given
 
the
 
overlap
 
between
 
the
 
signals;
 
therefore
 
PRC
 
cannot
 
recommend
 
Scenario
 
2.
 
Scenario
 
3
 
(the
 
“PSOA
 
Scenario”):
 
This
 
scenario
 
assesses
 
the
 
financial
 
feasibility
 
of 
 
entering
 
into
 
a
 
Public
 
Service
 
Operating
 
Agreement
 
(“PSOA”)
 
for
 
the
 
operation
 
of 
 
one
 
or
 
both
 
stations.
 
This
 
scenario
 
includes
 
changing
 
WSDL’s
 
format
 
from
 
news/talk
 
to
 
AAA
 
(Adult
 
Album
 
Alternative),
 
while
 
keeping
 
WSCL
FM’s
 
classical
 
music
 
format
 
the
 
same.
 
 
The
 
PSOA
 
Scenario
 
 A
:
 
This
 
scenario
 
assumes
 
DPR
 
continues
 
to
 
air
 
its
 
current
 
full
 
time
 
classical
 
format
 
on
 
WSCL
FM,
 
but
 
enters
 
into
 
a
 
PSOA
 
with
 
a
 
public
 
broadcaster
 
for
 
the
 
operation
 
of 
 
WSDL
FM
 
as
 
a
 
full
 
time
 
AAA
 
service
 
starting
 
in
 
FY2014.
As
 
DPR
 
will
 
incur
 
a
 
growing
 
deficit
 
due
 
to
 
the
 
limited
 
revenue
 
potential
 
versus
 
the
 
consistent
 
expense
 
growth,
 
PRC
 
cannot
 
recommend
 
PSOA
 
Scenario
 
A.
 
 
The
 
PSOA
 
Scenario
 
B
:
 
DPR
 
enters
 
into
 
a
 
PSOA
 
with
 
a
 
public
 
broadcaster
 
for
 
the
 
operation
 
of 
 
WSDL
FM
 
as
 
a
 
full
 
time
 
AAA
 
service
 
and
 
WSCL
FM
 
as
 
a
 
full
 
time
 
Classical
 
service
 
starting
 
in
 
FY2014.
 
PSOA
 
Scenario
 
B
 
is
 
a
 
viable
 
option
 
to
 
maintain
 
the
 
public
 
service
 
of 
 
both
 
stations
 
while
 
eliminating
 
the
 
need
 
for
 
future
 
SUF
 
or
 
SU
 
funding.
 
The
 
primary
 
benefits
 
of 
 
the
 
PSOA
 
B
 
Scenario
 
are
 
two
fold:
 
 
Eliminating
 
the
 
need
 
for
 
future
 
SUF
 
and
 
SU
 
support
 
to
 
DPR
 
 
Operation
 
of 
 
the
 
Stations
 
under
 
a
 
public
 
broadcaster
 
will
 
allow
 
for
 
the
 
continued
 
public
 
service
 
of 
 
the
 
Stations.
 
Further,
 
the
 
new
 
AAA
 
service
 
on
 
WSDL
FM
 
will
 
attract
 
new
 
listeners
 
and
 
increase
 
Salisbury
 
University
 
branding.
 
Scenario
 
4
 
(the
 
“License
 
Transfer
 
Scenario”):
 
This
 
scenario
 
assesses
 
the
 
financial
 
feasibility
 
of 
 
the
 
transfer
 
of 
 
the
 
Stations’
 
licenses
 
and
 
operations
 
to
 
a
 
new
 
nonprofit.
 
Given
 
that
 
the
 
status
 
quo
 
is
 
not
 
viable
 
there
 
is
 
little
 
or
 
no
 
probability
 
of 
 
success
 
under
 
a
 
new
 
owner.
 
PRC
 
cannot
 
recommend
 
the
 
License
 
Transfer
 
Scenario.
 
 
2
 
BACKGROUND
 
The
 
Salisbury
 
University
 
Foundation
 
(“SUF”)
 
is
 
licensee
 
of 
 
WSCL
FM
 
and
 
WDSL
FM
 
(the
 
“Stations”),
 
public
 
radio
 
stations
 
that
 
are
 
operated
 
under
 
Delmarva
 
Public
 
Radio
 
(“DPR”)
 
and
 
located
 
on
 
the
 
Delmarva
 
Peninsula.
 
SUF
 
hired
 
Public
 
Radio
 
Capital
 
(PRC)
 
in
 
May
 
of 
 
2012
 
to
 
assist
 
in
 
due
 
diligence
 
analysis
 
of 
 
the
 
Stations’
 
performance
 
and
 
to
 
make
 
recommendations
 
concerning
 
future
 
radio
 
operations.
 
PRC
 
has
 
created
 
a
 
business
 
model
 
that
 
demonstrates
 
the
 
present
 
public
 
service
 
and
 
financial
 
profile
 
of 
 
the
 
Stations
 
along
 
with
 
projections
 
of 
 
various
 
strategic
 
scenarios.
 
In
 
addition,
 
PRC
 
Director
 
of 
 
Consulting,
 
Dennis
 
Hamilton
 
visited
 
the
 
Stations,
 
SUF
 
and
 
Salisbury
 
University
 
(“SU”)
 
on
 
July
 
23
24,
 
2012
 
where
 
he
 
presented
 
initial
 
findings
 
and
 
elicited
 
ideas
 
and
 
comments
 
concerning
 
the
 
future
 
of 
 
WSCL
FM
 
and
 
WSDL
FM.
 
The
 
agenda
 
for
 
that
 
visit
 
can
 
be
 
found
 
in
 
Appendix
 
D.
 
SUMMARY
 
OF
 
ANALYSIS
 
This
 
report
 
is
 
a
 
culmination
 
of 
 
an
 
analysis
 
concerning
 
strategic
 
initiatives
 
outlined
 
in
 
the
 
PRC/SUF
 
agreement
 
and
 
further
 
developed
 
in
 
cooperation
 
with
 
SUF
 
and
 
SU.
 
The
 
following
 
is
 
the
 
outcome
 
of 
 
the
 
analysis:
 
Note:
 
Charts,
 
graphs,
 
and
 
other
 
data
 
drawn
 
from
 
the
 
Excel
 
model,
 
which
 
accompanies
 
this
 
report,
 
can
 
be
 
found
 
in
 
Appendix
 
B.
 
The
 
data
 
and
 
charts
 
only
 
pertain
 
to
 
the
 
scenario’s
 
that
 
were
 
modeled.
 
Status
 
Quo
 
Scenario:
 
This
 
scenario
 
 provides
 
a
 
long
term
 
outlook 
 
 for 
 
the
 
Stations
 
without 
 
any 
 
major 
 
change
 
in
 
ownership,
 
 programming
 
or 
 
organizational 
 
structure.
 
The
 
Status
 
Quo
 
scenario
 
is
 
included
 
in
 
the
 
Excel
 
business
 
model
 
that
 
accompanies
 
this
 
report.
 
It
 
is
 
the
 
first
 
analysis
 
resulting
 
from
 
data
 
gathering
 
and
 
discussions
 
with
 
the
 
licensee
 
and
 
others
 
concerned
 
with
 
the
 
future
 
operations
 
of 
 
the
 
stations
 
including
 
SUF
 
and
 
SU
 
Administration.
 
The
 
Status
 
Quo
 
model
 
was
 
completed
 
prior
 
to
 
the
 
July
 
site
 
visit.
 
The
 
results
 
are
 
summarized
 
as
 
follows:
 
 
There
 
is
 
little
 
potential
 
to
 
grow
 
the
 
audience
 
and
 
revenue
 
base
 
for
 
both
 
WSDL
FM
 
and
 
WSCL
FM
 
due
 
to
 
competition,
 
aging
 
audience,
 
and
 
market
 
conditions.
 
o
 
The
 
WSDL
FM
 
news
 
audience
 
continues
 
to
 
decline
 
due
 
to
 
local
 
competition
 
for
 
news
 
audience
 
created
 
when
 
WAMU
 
FM,
 
Washington
 
DC
 
entered
 
the
 
market
 
via
 
repeater
 
WRAU
 
FM.
 
o
 
The
 
WSCL
FM
 
audience
 
is
 
projected
 
to
 
decline
 
in
 
line
 
with
 
steady
 
classical
 
music
 
audience
 
erosion
 
nationwide.
 
o
 
As
 
a
 
result
 
of 
 
stagnant
 
audience
 
size,
 
listener
 
sensitive
 
income
 
(membership
 
and
 
underwriting)
 
is
 
projected
 
to
 
remain
 
essentially
 
flat
 
over
 
the
 
next
 
ten
 
years.
 
In
 
line
 
with
 
listener
 
sensitive
 
income,
 
total
 
revenue
 
for
 
DPR
 
will
 
remain
 
flat
 
with
 
SU
 
support
 
capped
 
at
 
$250,000
 
annually.
 
 
While
 
revenues
 
stagnate,
 
expenses
 
are
 
projected
 
to
 
rise
 
as
 
a
 
result
 
of 
 
inflation
 
and
 
cost
 
of 
 
living
 
 
Capital
 
costs
 
necessary
 
to
 
relocate
 
the
 
station
 
from
 
Caruthers
 
Hall
 
and
 
replace
 
the
 
aging
 
WSCL
FM
 
transmitter
 
facilities
 
that
 
amount
 
to
 
approximately
 
$180,000
 

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->