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Don McCoy's LA CA stations sell for half pennies on the dollar...

T

Tibbs4

Banned
Reading a very interesting thread on the LA (not Lower AL) boards about Don
McCoy selling the Magic/Tragic stations in that market for $35M, after they
paid well over and into the $100M's for them. How in the world can McCoy absorb
a disaster like that? 0rrrrr is the original seller not getting the rest of their money
owed? This may be the biggest swing in a station selling price yet. Anbody know
more? You'd think with piles of money just layin' around the PC cluster would be
gold plated and all top 4.
 
Hang on tibbs, when McCoy bought PC a few months ago, didn't that divest him from Magic completely and the LA and Dothan properties?
 
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