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Did the Clear Channel sale go through?

M

moohead

I have been away for awhile. As I was talking to brokers about Clear channel selling, my Mother fell ill and passed away a few months later. I know that a sale was announced, but I have seen nothing else about it.

I began negotiating to repurchase the stations, but was forced to halt due to the family issues as well as some other negotiating points.

So...who owns what?

Moo
 
Apparently, when the Dean Goodman of Good Radio fell out of favor, there were new people put in place to make this transaction come about, but I think, as of yet, it has not happened....although I think it's still scheduled to happen...the new company is called Frequency Inc or something similar....
 
moohead said:
I have been away for awhile. As I was talking to brokers about Clear channel selling, my Mother fell ill and passed away a few months later. I know that a sale was announced, but I have seen nothing else about it.

I began negotiating to repurchase the stations, but was forced to halt due to the family issues as well as some other negotiating points.

So...who owns what?

Moo
Click to expand...
Condolences on your mother Mr. Moo
 
wirelessinnepa said:
Apparently, when the Dean Goodman of Good Radio fell out of favor, there were new people put in place to make this transaction come about, but I think, as of yet, it has not happened....although I think it's still scheduled to happen...the new company is called Frequency Inc or something similar....
Click to expand...

I don't know anything that wasn't reported in the trades. The original name of the buyer was Goodradio.TV, L.L.C. The name has since changed to Frequency License, L.L.C. The CEO is different, but the financial backer remains the same. At this point, there are court actions involved in the transation. Beyond that, I really don't know anything else. The stations [WMRV-FM, WMXW, WKGB-FM, WBBI, WENE(AM) and WINR(AM)] are still operating as Clear Channel stations.
 
Hi guys!

I looked into this, and it appears that Goodman was pushed out by the investor group. Not sure why. They changed names to Frequency, then tried to renegotiate the deal. Clear Channel responded with a court action.

I wonder if Frequency questioned the financials once they got a closer look at the clusters.

Moo
 
Condolences on the passing of your mother.

A well-placed source also indicates that Backyard is paying close attention to the progress of the Binghamton Clear Channel-Frequency sale. While the source has not gone on record to confirm, the feeling is Backyard may be in a position to enter negotiations for the properties should the deal with Frequency fall through.

Looking at the potential synergy, should Backyard step in, it would hold and operate properties in Olean, Elmira-Corning and Binghamton.
 
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