AllAccess, via the Contra Costa Times, predicts the end may be near for Family Radio. If so, this could have a few implications in the NYC tri-state area.
First it means they may not be actively seeking a replacement station for their former WFME Radio, so that makes one less motivated buyer for some of the prospective stations that were previously discussed.
It also means WFME-TV could be on the market soon enough, along with Family's recently acquired WDVY-FM and other nearby radio stations and/or translators.
The terms of Family's sale of WFME Radio stipulated that if Cumulus was successful in moving 94.7's transmitter into any of the five boroughs during the next five years, then Family gets an additional $8.5M~10M depending on the license class. What would happen to that obligation should Family be wound down? I suppose the answer might depend on whether another company acquired Family in its entirety or if the assets get sold off in pieces.
Of course Harold Camping posted a message on the Family Radio website last November that read, "Many listeners have heard news of this sale and are very concerned that it signals the demise of Family Radio. But, let me reassure you -- nothing could be further from the truth." And if there's one thing we know we can depend on from Camping, it's the truth.
First it means they may not be actively seeking a replacement station for their former WFME Radio, so that makes one less motivated buyer for some of the prospective stations that were previously discussed.
It also means WFME-TV could be on the market soon enough, along with Family's recently acquired WDVY-FM and other nearby radio stations and/or translators.
The terms of Family's sale of WFME Radio stipulated that if Cumulus was successful in moving 94.7's transmitter into any of the five boroughs during the next five years, then Family gets an additional $8.5M~10M depending on the license class. What would happen to that obligation should Family be wound down? I suppose the answer might depend on whether another company acquired Family in its entirety or if the assets get sold off in pieces.
Of course Harold Camping posted a message on the Family Radio website last November that read, "Many listeners have heard news of this sale and are very concerned that it signals the demise of Family Radio. But, let me reassure you -- nothing could be further from the truth." And if there's one thing we know we can depend on from Camping, it's the truth.