• 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

Bad News: Goodradio Is Not Taking Over CC Hudson Valley

This does NOT mean CC isn't selling its Hudson Valley stations. Several of their deals are in trouble, because the buyers believe they over paid. Dean Goodman was pushed out by the company's financial backers American Securities Capital Partners back in July. He took a group of 30 stations he purchased himself and formed the new Goodradio .American Securities Capital Partners installed Jeff Warshaw as its new President under the awkward name to Frequency License LLC. They demanded a $ 50 million reduction in the $452 million selling price. CC balked Frequency License LLC refused to close the deal at the previously agreed price last month, so now they are in court. Like I said CC is having similar problems with other deals so they may have to renegotiate the price at some point but for now they are playing hardball. The stations are still for sale and I am not a lawyer so I don't know what leverage CC has against Frequency License LLC to force the deal through. They may end up selling to somebody else even if it means breaking the cluster up, which they didn't want to do. Right now many radio stations are in a bit of a financial squeeze and station sale prices have fallen .The credit crunch in the Real Estate markets is also reported to have had some effect on buyers seeking loans .
 
Old news....too bad as the Folks on Tucker drive will have a longer wait to see what their futures will be. One thing is for sure, the sale will go thru...sure would like to see some of these stations go to a small locally focussed owner.... ???

warm590 ;D
 
Thanks for the info about CC Hudson Valley and the lawsuit, just be patient, will see what the future lies ahead if maybe they'll get a different owner than Goodradio. Maybe Galaxy will come in one of these days. Galaxy is a company that owns a few stations that took over CC including the one in Albany, Utica and Syracuse, if there is a rumor that Galaxy will be taking over the CC Hudson Valley stations, will see.

I know it's old news, will have to be patient if this gets settle.
 
I very highly doubt Galaxy is coming to the Hudson Valley... Dream on as usual.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom