IDT looking to sell Liberty Broadcasting?
In the 10/22 edition of the weekly "Forward" newspaper, IDT Corp. Chairman and founder Howard Jonas is profiled, speaking on the development of O&O WMET-AM DC and saying he plans to sell Liberty Broadcasting, formerly Talk America Radio Network. However, he told the influential Jewish weekly that he would keep some of the top hosts for WMET and still wants to acquire more stations. IDT had no additional comments on the story after we contacted them.
Excerpts:
Jonas, chairman and founder of IDT Corporation, unveiled his vision for a more polite brand of talk radio last month on WMET, 1160 AM in Washington. Owned by Jonas's company, the station boasts a full roster of right-leaning pundits and is serving as a launching pad for his dream of building a national network of conservative radio stations.
The burgeoning broadcast mogul is putting the considerable resources of IDT, the telecommunications company that has made him millions - - mostly with cheap calling cards and phone service - - behind the venture. So far, IDT has made serious bids to buy radio stations in New York and San Francisco, among other cities.
"The problem," Jonas said during an interview last week at IDT's headquarters in downtown Newark, "is that I have no choice but to listen to [National Public Radio] even though it's full of pro-Palestinian propaganda, anti-Americanism and is definitely socialist in its outlook."
Jonas already has demonstrated patience in transforming WMET from a 1,000-Watt station into a 50,000-Watt station, allowing it to reach Baltimore. The process required IDT to take part in a lengthy two-year approval process with the Federal Communications Commission that cost more than 1 million.
Radio is only the latest media venture at IDT, which Jonas founded when he was 33 and grew into the 1.2 billion behemoth it is today. IDT still makes the bulk of its money from phone cards, but today the company also has divisions dedicated to animated features, television and radio.
Jonas's staff has been developing IDT's programming philosophy and business plan for the last five years. In 2000, IDT purchased a broadcasting company, Talk America Radio Network, which had the syndication rights to a number of radio personalities, though no radio stations. But Talk America, which was later renamed Liberty Broadcasting, was a "dumbed-down network," according to Jonas, and he said IDT is currently in the process of selling it.
They will keep some of the personalities from Liberty for WMET, but they are also working to develop a new stable of shows, and there are plans to syndicate the successful ones.
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