• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Liberman files for bankruptcy

M

Mediafrog+

Story here and elsewhere: https://radioinsight.com/headlines/172240/lbi-media-files-for-bankruptcy/

In the greater Houston market, Liberman owns KTJM 98.5, KJOJ 103.3, KQQK 107.9, KNTE 101.7 and KEYH 850. They also own KZJL/61 (Estrella TV.)

The company's finances will be restructured, but you have to wonder if underperforming assets will be sold off, or whether they will get out of either radio or TV.

KTJM and KQQK are viable signals with acceptable numbers for rimshots, but the others are relatively worthless and might be targets for a sale. EMF getting KJOJ for the K-Love format? And KEYH would be an excellent place for an Asian language format, as the signal is a blowtorch in the heavily Asian areas of the market. No idea who might be interested in KNTE, as its signal misses most of the Houston market.

This is already being discussed on the Los Angeles board. Perhaps David Eduardo has some thoughts as to how this might affect the Houston operations.
 
ContinuousWave said:
I doubt it would ever be upgraded to full C..Lenard won't spend 5+ million to upgrade a rimshot..
Click to expand...

The details published up to this point indicate that Lenard will go from virtually 100% ownership of the company to around 25% after reorganization... even less if one of the lenders has their way.

Hopefully the new board of directors will appoint a new CEO / COO after the reorganization.
 
Lenard lose control? Wow ..thought he and Papa Jose never would lose it..the company made some stupid decisions...I was there in Houston when they put Winter Horton in as GM and that one of the biggest ones they did, followed by spending the $$$ on the Bay City/ El Campo signals..98.5 was doomed from the start as any Hispanic format as it doesnt cover the areas of Houston needed for those formats..
 
stan said:
What would they possibly sell in Houston, and who could be the possible buyers?
Click to expand...

Chapter 11 does not necessarily require a sale of assets.
 
stan said:
True, but the new owners could.
Click to expand...

The new owners are going to be today's "old" lenders who will likely swap debt for equity.

Once there is a new board, they can do anything they want. But that is quite a bit of time away.
 
The current way of doing things got Liberman into over half a billion dollars in debt and the resultant bankruptcy. The creditors-turned-owners will not allow that to continue--they want their money back. While they won't blow up everything, you can expect some noticeable changes, including disposing of underperforming/nonperforming assets. Google "Einstein" and "insanity".

I'm curious to see if they might diversify away from being a primarily Hispanic-targeted broadcaster, as that market might be getting a bit saturated in some cities.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom