Bids are pouring in to purchase a future FM radio station in Hanapepe on Kaua‘i. The Federal Communications Commission is, for the first time, using the Internet to auction off 288 future FM stations around the country, including 10 in
Bids are pouring in to purchase a future FM radio station in Hanapepe on Kaua‘i.
The Federal Communications Commission is, for the first time, using the Internet to auction off 288 future FM stations around the country, including 10 in Hawaii with one here on Kaua‘i. The other stations on the block as of Wednesday included two in Honolulu, three on Maui, one on Molokai, and the remainder on the Big Island.
Opening bids for the Kaua‘i station was $70,000 and by Thursday afternoon was well over $100,000.
“But that number could go as high as $200,000 or $300,000,” said George Hochman, owner of H-Hawaii Media, which runs Island 98.9 FM and Hits 99.9 on Kaua‘i.
They also own a Maui station and one in Honolulu. But don’t start flipping through the dial looking for the new station anytime soon. Hochman says it typically takes six months to a year for the FCC to issue the license.
And once that’s done, he says, it can take up to three years to actually build the station. “I suspect the buyer will be from off island, and possibly out of state,” Hochman ventured. The auction could take as long as two weeks to finish.
After two rounds of bidding, the Hawaii FMs drew five of the highest 10 bids for licenses for stations in Nanakuli, Wahiawa, Kaunakakai (Molokai), Kihei (Maui) and Haiku (Maui). A $336,000 bid for the Nanakuli license by Wyomingbased Kona Coast Radio LLC was the highest of all bids placed Wednesday. Round one of the auction opened with 456 bidders. Bids are submitted live online or via telephone. Winners will not be announced until the stations are all sold.
