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Biz Radio gone again?

adguy said:
Sounds like it's going from BizRadio to PrizRadio very soon.
Click to expand...

Well, that's the prediction you made back in December. This is really getting ugly.

I think this update from Chuck Gallagher's blog deserves a re-print here:
NEWS FLASH…10:31 P.M. – “Re: Biz Radio/Kaleta Capital Management – “Wowzer!
Just confirmed Daniel held a staff meeting today and announced that Salem will be repurchasing KTEK for $3.5-million (which, as I recall, was about what that Sidiki fellow was going to pay for it last month…)” (but let's get the name right. It's Rehan Siddiqi.)

And on a personal note, Chuck, wake up! The nightmare is back!
 
jd said:
adguy said:
Sounds like it's going from BizRadio to PrizRadio very soon.
Click to expand...

Well, that's the prediction you made back in December. This is really getting ugly.

I think this update from Chuck Gallagher's blog deserves a re-print here:
NEWS FLASH…10:31 P.M. – “Re: Biz Radio/Kaleta Capital Management – “Wowzer!
Just confirmed Daniel held a staff meeting today and announced that Salem will be repurchasing KTEK for $3.5-million (which, as I recall, was about what that Sidiki fellow was going to pay for it last month…)” (but let's get the name right. It's Rehan Siddiqi.)

And on a personal note, Chuck, wake up! The nightmare is back!
Click to expand...
Curious, why is KTEK a nightmare? Is 650 less of a nightmare at 250watts?
 
dfwrunner said:
Curious, why is KTEK a nightmare? Is 650 less of a nightmare at 250watts?
Click to expand...

That's not the issue. What's involved here is the trouble with running it, if that should indeed happen again, along with Salem's two other properties in Houston. The note about the nightmare was directed to my friend Chuck Tiller there, who has used that analogy in the past.
 
Chuck, please keep 'em coming!! There may not be a ton of interest shown on the board, but several of us "EX"-BizRadio folks are following this with keen interest!
 
LibertyNT said:
Well I Think Its Safe To Say Biz Radio is definitely no more.
Click to expand...

Maybe not in Dallas, but they are holding on to their programming outlet KTEK here in Houston by the tips of their fingernails. I keep checking 1110 expecting it to either be silent or something other than the business format, but alas, it is still there. Wonder how their Amway meeting went?
 
Heard the Amway meeting was moved to next week. There were less then five RSVPs. Outside of Frishberg's wife and another couple of employees, the response probably matched their current listenership. The walk-in could have been spectacular (LOL).
 
Frankly, I think the duped investors should have responded - filled the room and demanded an explanation of how or why Dan "The Money Man" felt that effectively running a Ponzi scheme was O.K.? I've yet to figure out why there is no criminal investigation - yet?
 
Chuck Gallagher said:
Frankly, I think the duped investors should have responded - filled the room and demanded an explanation of how or why Dan "The Money Man" felt that effectively running a Ponzi scheme was O.K.? I've yet to figure out why there is no criminal investigation - yet?
Click to expand...

The legal rules for incorporation don't allow you to just state that someone is a CEO. Who is really CEO/COO, etc. of Bizradio (the part that owned KTEK)? If it is Dan, then he is right that Ron Crider had no authority to create a contract that Dan didn't approve of. I would say that Dan himself would need to legally sign such a contract, if Ron Crider is not officially, legally in that position of authority. Did he?
 
Where that might be true in the legal sense for a corporation, but when Frishberg paraded Crider around to the investors touting him as the CEO or co-CEO, then putting out a press release on company letterhead touting him as CEO you have in effect made him CEO in the investors eyes. If that wasn't true he lied to the investors, thus committing legal fraud. When he put it out on a press release he committed conspiracy and potentially mail fraud. When he and Kaletta took money for one purpose and committed it to another as well as enriching themselves they may have committed corporate money laundering. Frishberg & Kaletta better have some damn good attorneys lined up.
 
As of this morning at station sign on, KTEK/Alvin,Tx. became "Business 1110" under the Salem Communications flag. The new programming will still feature Ray Lucia and Dan Frishberg at their normal times, but quite a bit of the Biz Radio programming is being replaced by Bloomberg News. After an interview of Dan Frishberg this morning on KTEK, it was announced that Biz Radio's partnership with Salem will expand into other Salem markets. The initial plan is to expand the partnership within the State of Texas and then to move into markets across State lines.

Given that Dallas/Fort Worth is the biggest market in the State, one would assume the Metroplex would be next in line for this new partnership. Where would you expect to see this format debut in Dallas?
 
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