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Bank Takes Over Riviera

J

Jay F

I first heard about this on Friday. Now I see it's on the R-I Phoenix board. Riviera Broadcast Group is in receivership. The bank has taken over.

I wonder who will end up buying their LV stations (105.7 and 107.9) ???
 
Posts: 40


Riviera Broadcast Group = Receivership/Bank Owned
« on: Yesterday at 07:37:29 am » Quote

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Tim Pohlman and Chris McGuire are out as the bank steps in to take over Riviera Broadcast Group. Heard that the announcement to staff came Friday. I bet we have two more spanish stations on the dial very soon.
 
On the Phoenix board it is rumored that San Diego's Finest City will be taking over.
 
I wonder what they do with the local staff? There are some good, hard working people there...
 
I wonder if the Smooth Jazz format will be a casualty of this? Tim Pohlman was a big believer in the format with his background as the former GM of the WAVE/LA. But whoever the bank unloads these stations to might not feel the same way. The OASIS has made a ratings comeback in recent months with some of their best numbers ever, but that could change with PPM as Smooth Jazz is considered a PPM unfriendly format.

Stations continue to defect from Smooth Jazz. Yesterday one of the format pioneers, KKSF/San Francisco, flipped to Classic Rock. WNUA/Chicago is heavily rumored to be next.
 
Does Riviera also have the license for silent KPKK (101.1) in Amargosa Valley, which simulcasted the Oasis? If so, that could have been a warning shot back in 2008.
 
That's (KPKK) still owned by Devine/Buzil who sold the oasis to Riviera years ago. It was dark in Oct. of last year when I was up by Mercury. They filed for a CP recently to try again to get a full "C" out of it.

KF
 
I heard there were layoffs today at Riviera. Not sure who yet...
 
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