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Another Ownership Change

W

whopper

As South Carolina radio watchers await the Cumulus takeover of Citadel, today comes word that Townsquare Media is buying Double O.
 
Acquiring the Double O stations in all markets but Panama City, FL and Columbia, SC. Pilot Group becomes a minority investor in Townsquare.
 
Someone, and I can't remember who it was, said that both Panama City and Columbia are troubled markets for Double O and that Townsquare only wanted the positive-cash-flowing properties. Double O has on the street an "end of summer" package that has an effective spot rate of $3. No way they could even pay the rent at those rates.
 
I didn't know if it was Townsquare not wanting it, or Double O taking their two biggest markets and trying to get more dough for them..
 
Not really sure if I would want the Double O stations here. Since I am not in the business I am only sharing my opinion, but it seems like both of the Double O stations ahve been poorly managed from the get go and it looks like we are definitely seeing more of the same. I personally wonder how long they will carry the formats they are carrying and how much longer they will be in business here.
 
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