For AM stations especially, the IBOC conversion cost is relatively low -- in the $10,000 range -- because most broadcasters have relatively modern transmitters.
The IBOC design requires that the receiver be digital-signal-processing (DSP)-based.
DRE has an alliance with Cue Networks, Los Angeles, CA, and this fall will bring in a digital carrier system based on its IBOC technology using the subcarrier spectrum, which can be taken to market now without any further FCC approvals.
The channel consists of both the analog and digital signal in the sideband, which Lucent refers to as a hybrid IBOC implementation because it contains both the analog and digital signals.
Tu, President and Chief Executive Officer of IBOC, said, "Based on First Banks' strong background and leadership, they can definitely provide an array of banking products and enhanced services to IBOC's customers.
First Banks' acquisition of IBOC provides six additional banking offices in Los Angeles, California, including one branch in downtown Los Angeles, four branches in eastern Los Angeles County, in Alhambra, Arcadia, Artesia and Rowland Heights and one branch west of downtown Los Angeles, as well as one banking office in downtown San Francisco, California.
The transaction, which is subject to regulatory approvals and the approval of the IBOC shareholders, is expected to be completed during the third or fourth quarter of 2005.
At March 31, 2005, IBOC reported consolidated assets of $171.