After six weeks of assuring city employees that City Cable wasn’t selling as previously blogged in January, City Manager Bagby finally announced in Sunday’s paper they’ve been working on selling City Cable since November.
On the agenda for Monday night’s City Council is both a workshop and voting session item to sell City Cable. But Bagby gives no explanation as to why the sale of this asset is being fast-tracked on Monday night, why the details of the sale are being kept from the public, or why the city lied to their employees for six weeks.
I asked Fred Goldstein from InterIsle Consulting about the value of a cable subscriber in today’s market and he responded with, “Last year, TDS bought Baja Broadband, a smaller operation from New Mexico, paying $267M for approximately 71,000 subscribers: about $4400 per subscriber. Comcast is offering $45.2B for Time Warner Cable, which reportedly has 11.4M subscribers: that’s over $3950 per subscriber.”
Most people in the industry believe that Comcast’s CEO Brian Roberts is always the smartest guy in the room and they would certainly agree that Comcast never overpays. For that reason you can be assured that a “buyer’s” value per subscriber is $3950.In April 2013, NewWave, who provides cable services in Dexter and other surrounding areas, is speculated to have sold for more than $4000 per subscriber. According to “Investment Points” in WhereverTV’s presentation from Feb 2013, the value is between $4000 and as high as $5000 per subscriber.
It has been rumored that city leaders are calling this a “deal of a lifetime” opportunity and a “too good to be true” offer; so be ready to hear those phrases bantered about during Monday night’s meeting. But if that is the case, we should expect the offer to be closer to a “seller’s” price of $5000 per subscriber.
According to City Manager Bagby, the network currently has 6000 subscribers making the “too good to be true” value of our 6000-subscriber City Cable network around $30,000,000. Alternatively, a good “buyer’s” price would be $23.7M.
But here’s the problem: the offer being voted on to sell City Cable is reportedly less than $18M that’s less than $3000 per subscriber. No wonder the city leaders haven’t released any details of the sale.
I’m also very leery of Bagby’s “6000 subscribers” quote in today’s paper. Three years ago, the city claimed to have over 8000 subscribers. Has City Cable actually lost more than 2000 customers in 36 months? Or is it because the lower the number of subscribers you report, the higher the per-subscriber valuation looks?
If City Cable actually still has 8000 subscribers then the high-end seller’s value of the network is closer to $40M. Honestly, I would encourage the city to sell City Cable if the offer was between $27M and $40M.
Bagby “emphasized” in today’s paper that a citizen vote is not required to sell the network, however that doesn’t mean the city leaders have the right to sell it without public discourse. And it’s certainly hard to claim “public discourse” with no details provided and only 36 hour notice.
When city leaders say this is a “once in a lifetime” opportunity, I wish someone would ask, “For whom?” Only city leaders in Poplar Bluff can lose between $7M and $20M on the sale of an asset and brag to the citizens it is the deal of a lifetime.
After graduating from Mizzou with Computer and Electrical Engineering degrees in 1985, Brian Becker spent a decade singing Christian Rock and being a labeled artist with Benson Music Group of Nashville. In 1995, he and several investors started the area's first Internet Service called PBMO.net and by 2000 the company was serviing Internet access in over 50 communities throughout Southeast Missouri as SEMO.net. In July 2014, Becker again made a major pivot and became Publisher of the SEMO TIMES: a weekly print and daily online news and entertainment source for the region.
Oct 4, 10, 11, 17, 18, 19, 24, 25, 26, 29, 30, 31 Nov 1 Friday Hours will be 6pm to 11:30pm Sat hours will be 4pm - 6pm Kid Friendly (no [...]
Oct 4, 10, 11, 17, 18, 19, 24, 25, 26, 29, 30, 31
Friday Hours will be 6pm to 11:30pm
Sat hours will be 4pm – 6pm Kid Friendly (no monsters)
Sat Hours will be 6pm – 11:30pm
Sun hours will be 6pm – 10pm
Tickets will be:
$10 per person for adults (non-discounted)
$8 per person for adults (discounted)
$5 per child 10 and under (non-discounted)
Presented by Kiwanis Club – Poplar Bluff MO and Kiwanis network of school aged children enrolled in Key Club, Builders Club, K Club and other eager volunteers – ALL hoping to survive the nightmares of Kinyon School. Poplar Bluff is coming at you in full force with the science, the urban legends, the slight of hand and of course monsters of all shapes and sizes.
Come join us for a month of weekends filled with ever-changing Spookiliciousness. And we do mean ever changing. Come one week and have fun. Come the next week, get your mind blown by how different it is now. Come another time and you’ll start to doubt your own ability to remember what is real and what isn’t. This school doesn’t teach anything anymore. ITS LEARNING FROM YOUR FEAR AND ITS GETTING BETTER AND BETTER AT SHOWING YOU WHAT SCARES YOU MOST!
If you’re in school and want to participate – you must be a registered member of one of the Kiwanis groups this fall through the The Boys & Girls Club of Poplar Bluff called The Builders Club and K-Kids. High School students must be a member of Key Club. There will be lots of opportunities to be mentored as we build and design and promote this huge event opening the first weekend in October.
Watch for casting calls this summer for key players in the Haunted scenes. Lots of great ideas and warped “out of the box” thinking going on these days. We are all starting to feel a little mutant.
We’ll stay in touch. Even when you don’t know we’re there, heh heh – we’ll be there – silent but deadly!
October 4 (Saturday) 7:00 pm - November 1 (Saturday) 10:00 pm
Kinyon Kinyon School
910 Vine St, Poplar Bluff, Missouri 63901
Kiwanis Club - Poplar Bluff MO
The Grotto Presents:
The Haunted Grotto
October 24th thru 31st nightly open at 7pm.
Rain or Shine
3102 Kennedy Lane
Poplar Bluff, MO 63901
24 (Friday) 7:00 pm - 31 (Friday) 10:00 pm
3102 Kennedy Lane Poplar Bluff, MO 63901
As always admission is free to the public. Some of the things we have in the works are; A Costume Contest for children 12 years old and under, [...]
As always admission is free to the public. Some of the things we have in the works are; A Costume Contest for children 12 years old and under, A Grilled Cheese Cook Off! Live Entertainment, Games, and a Craft Area for the kids, Pony Rides, Bounce House, Yummy Foods, Vendor Booths (with all kinds of awesome things), Fire Safety House, and so much more! We will be adding as we go! Make plans to come out and have a ton of fun
(Saturday) 9:00 am
Historic Train Station
400 S Main St, Poplar Bluff, Missouri 63901
Come join us for a ghostly fun time! Candy drop, haunted hayride, trunk or treat, haunted museum, haunted homestead, food, games, contests, vendors and more. Come help make this the [...]
Come join us for a ghostly fun time! Candy drop, haunted hayride, trunk or treat, haunted museum, haunted homestead, food, games, contests, vendors and more. Come help make this the best yet! To get involved, become a vendor, become an attraction call 996-7481
(Friday) 6:00 pm - 8:00 pm
Doniphan Neighborhood Assistance Program