> > I just hope the Easthams get those stations back.
> > Only THEY know Pine Bluff radio better. Believe me.
>
> I don't know that Craig wants the stations back. He just
> wants his money. Russell paid him $1.1-million cash and a
> note for $350,000. It's the $350k that Craig is suing to
> collect because Mr. Russell won't make the payments. If
> Craig wins, all he can get is a judgment against the
> building and the real estate. He could then sieze it, but
> at that point the esteemed Mr. Russell will file bankruptcy.
> What a buffoon!
>
> LF
>
There is a process, I understand by talking to some of my broker and engineer friends, who claim to understand FCC procedures (and everyone knows everything about FCC Radio REgs, but know one says the same thing, but anyway, back to the process) where the seller who owner financed a radio station to a buyer can get the license back from said buyer.
However, Russell has had radio stations repossessed from him before (KYYK-FM/KNET-AM Palestine, TX, December 2003), and he saw to it that the stations were inoperable before Witkowski reassumed control. That was after 4 months of court battle.
Craig, should you be able to get the stations back, it would be an honor to work for you and revive/resurrect Q101 and take that station to new heights.