If we look at the latest results, there are four lawsuits against WDJO. First, Dusty's suit was for fraud, Duke Realty's suit was next for unpaid rent, BMI's suit was for music licensing payments, and now, the former owners of WDJO. The logical guess is that they are not making payments on the $600,000.00 purchase price. You have to wonder who they are paying? I would think that they would have to pay the electric company to keep the lights on and a few bucks to the deejays. But it sure looks like they are stiffing everyone else.
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Is WDJO Paying Anyone?
- Thread starter NDXUFan
- Start date
NDXUFan said:If we look at the latest results, there are four lawsuits against WDJO. First, Dusty's suit was for fraud, Duke Realty's suit was next for unpaid rent, BMI's suit was for music licensing payments, and now, the former owners of WDJO. The logical guess is that they are not making payments on the $600,000.00 purchase price. You have to wonder who they are paying? I would think that they would have to pay the electric company to keep the lights on and a few bucks to the deejays. But it sure looks like they are stiffing everyone else.
Lawsuits come and go. You just hope for the best.
Judgements are what someone would have to worry about.
B
bobo2
Guest
Arbitron, BMI and Duke Realty all have judgments. Let's not forget Overbeck. Only Dusty and American Broadcasting are still in play.
You have got to be kidding. Some of these were filed after Dusty, right? How did they litigate so quickly or were these default judgements?bobo2 said:Arbitron, BMI and Duke Realty all have judgments. Let's not forget Overbeck. Only Dusty and American Broadcasting are still in play.
I did see the Duke one but i thought that the rest were still working through the system.
Bummer. It really can get ugly and i hope that the guys can work this out.
I guess one strategy would be to get adjudicate the other cases then just file for reorganization bankruptcy. Get appointed "debtor in possession" and work out settlements for pennies on the dollar. That way, you have all of the bad stuff behind you.
Reorganization bankruptcy (Chapter 11 IIRC) can be a big gamble. They will have first shot a presenting a "plan" to the creditors and the Judge, but if the creditors raise too much hell the Judge will allow other parties to present "plans". Some broker broadcaster might see this a "cheap" way to get into the market and "steal" this station and then 24/ 7 religious, snake oil, or real estate get rich quick. Even worse a real estate developer come up with some cash and buys it for the land. This could end up very sad. WDJO needs good legal counsel if they go this route.
secondchoice said:Reorganization bankruptcy (Chapter 11 IIRC) can be a big gamble. They will have first shot a presenting a "plan" to the creditors and the Judge, but if the creditors raise too much hell the Judge will allow other parties to present "plans". Some broker broadcaster might see this a "cheap" way to get into the market and "steal" this station and then 24/ 7 religious, snake oil, or real estate get rich quick. Even worse a real estate developer come up with some cash and buys it for the land. This could end up very sad. WDJO needs good legal counsel if they go this route.
I know. I've been on a creditors committee and presented an alternate plan to the court, in times past. Have even worked with a few clerks on a fraud deal.
It can get dicey. I wasn't wishing this on anyone. I was just throwing out a scenario.
jry said:NDXUFan said:If we look at the latest results, there are four lawsuits against WDJO. First, Dusty's suit was for fraud, Duke Realty's suit was next for unpaid rent, BMI's suit was for music licensing payments, and now, the former owners of WDJO. The logical guess is that they are not making payments on the $600,000.00 purchase price. You have to wonder who they are paying? I would think that they would have to pay the electric company to keep the lights on and a few bucks to the deejays. But it sure looks like they are stiffing everyone else.
Lawsuits come and go. You just hope for the best.
Judgements are what someone would have to worry about.
Yes, that is true. Judgements are only a good idea if the judgement is collectable.
Agreed.secondchoice said:Reorganization bankruptcy (Chapter 11 IIRC) can be a big gamble. They will have first shot a presenting a "plan" to the creditors and the Judge, but if the creditors raise too much hell the Judge will allow other parties to present "plans". Some broker broadcaster might see this a "cheap" way to get into the market and "steal" this station and then 24/ 7 religious, snake oil, or real estate get rich quick. Even worse a real estate developer come up with some cash and buys it for the land. This could end up very sad. WDJO needs good legal counsel if they go this route.
jry said:secondchoice said:Reorganization bankruptcy (Chapter 11 IIRC) can be a big gamble. They will have first shot a presenting a "plan" to the creditors and the Judge, but if the creditors raise too much hell the Judge will allow other parties to present "plans". Some broker broadcaster might see this a "cheap" way to get into the market and "steal" this station and then 24/ 7 religious, snake oil, or real estate get rich quick. Even worse a real estate developer come up with some cash and buys it for the land. This could end up very sad. WDJO needs good legal counsel if they go this route.
I know. I've been on a creditors committee and presented an alternate plan to the court, in times past. Have even worked with a few clerks on a fraud deal.
It can get dicey. I wasn't wishing this on anyone. I was just throwing out a scenario.
Very good points.
secondchoice said:Reorganization bankruptcy (Chapter 11 IIRC) can be a big gamble. They will have first shot a presenting a "plan" to the creditors and the Judge, but if the creditors raise too much hell the Judge will allow other parties to present "plans". Some broker broadcaster might see this a "cheap" way to get into the market and "steal" this station and then 24/ 7 religious, snake oil, or real estate get rich quick. Even worse a real estate developer come up with some cash and buys it for the land. This could end up very sad. WDJO needs good legal counsel if they go this route.
The other things might happen, but nobody will be buying WDJO for the land.
http://www.bocc.hamilton-co.org/agenda/Images.nsf/5084a96ef59e0c0c8525690d00522fac/7cf4014e1828df4085256a7e00533a46/$FILE/01.pdf
The mistake many entities make on these types of leases is they list a set of call letters as the lessee. Call letters can change. Hopefully, the lease is transferrable. Otherwise, a group of activists can make a stink and say the lease is null and void.
Well, now i know what the signal challenges are. Not only are these sticks short but, the have small faces. Not enough steel in the air. Gosh, what 6 inches of tower face and another 30 to 50 feet in height would do for this station.
Well, now i know what the signal challenges are. Not only are these sticks short but, the have small faces. Not enough steel in the air. Gosh, what 6 inches of tower face and another 30 to 50 feet in height would do for this station.
Leasing land for an AM directional array is one of the dumbest things you can do. An AM array isn't something that you can just pick up and move. When I'm looking to buy an AM station, if I see a lease on the transmitter site... NEXT!
stereolane said:Leasing land for an AM directional array is one of the dumbest things you can do. An AM array isn't something that you can just pick up and move. When I'm looking to buy an AM station, if I see a lease on the transmitter site... NEXT!
Unless its a really LOOOOOOOONG term lease...
I've got a couple of sites that i lease and they're written for 15 to 25 years.
Most of the critical sites are owned and i am always trying to buy the ones that i am leasing.
Interesting...the paperwork indicates a 5 tower array just a few miles north of where the old WCIN 5 tower array was on Glenwood Avenue. Maybe not, but I wonder if their thoughts might be to try to get the old 5kw day pattern authorization back. The station at least covered Cincinnati fairly well back then...(At least under this idea, Tower 5 won't be sliding down a hill, as it was on Glenwood Avenue...
Remember, too folks...AM is not "line of sight" as FM is. Depending upon the engineering studies, 125 foot towers might, or might not make a big difference. But, I'm not an engineer...
Remember, too folks...AM is not "line of sight" as FM is. Depending upon the engineering studies, 125 foot towers might, or might not make a big difference. But, I'm not an engineer...
I thought that they lost the old site due to some kind of project or expansion.Jason Roberts said:Interesting...the paperwork indicates a 5 tower array just a few miles north of where the old WCIN 5 tower array was on Glenwood Avenue. Maybe not, but I wonder if their thoughts might be to try to get the old 5kw day pattern authorization back. The station at least covered Cincinnati fairly well back then...(At least under this idea, Tower 5 won't be sliding down a hill, as it was on Glenwood Avenue...
Remember, too folks...AM is not "line of sight" as FM is. Depending upon the engineering studies, 125 foot towers might, or might not make a big difference. But, I'm not an engineer...
Electrical height of an AM tower is everything. Then, your ground system is usually as long as the tower is high. Years ago, i ran a company that had an "800" in Camden, NJ. One of the towers was north of 500'. Man, you talk about coverage. I've got an AM with 370' towers and it covers a lot of turf.
It would be interesting to find out how many people who have worked for them have been "stiffed" for either wages owed or sales commissions. I know of at least two.
Likewise, it would be interesting if some of the advertisers who bought time through Rodger's agency knew he was a partner in the station where he was steering clients.
Sadly, these guys have been "playing radio" for years, with no genuine professional or business success and even less in the way of ethics.
Likewise, it would be interesting if some of the advertisers who bought time through Rodger's agency knew he was a partner in the station where he was steering clients.
Sadly, these guys have been "playing radio" for years, with no genuine professional or business success and even less in the way of ethics.
Jason Roberts said:Interesting...the paperwork indicates a 5 tower array just a few miles north of where the old WCIN 5 tower array was on Glenwood Avenue. Maybe not, but I wonder if their thoughts might be to try to get the old 5kw day pattern authorization back. The station at least covered Cincinnati fairly well back then...(At least under this idea, Tower 5 won't be sliding down a hill, as it was on Glenwood Avenue...
Remember, too folks...AM is not "line of sight" as FM is. Depending upon the engineering studies, 125 foot towers might, or might not make a big difference. But, I'm not an engineer...
Neither am I.
JackHamm said:It would be interesting to find out how many people who have worked for them have been "stiffed" for either wages owed or sales commissions. I know of at least two.
Likewise, it would be interesting if some of the advertisers who bought time through Rodger's agency knew he was a partner in the station where he was steering clients.
Sadly, these guys have been "playing radio" for years, with no genuine professional or business success and even less in the way of ethics.
It would not surprise me. Yes, I do love oldies and oldies radio. However, it takes more than just playing the hits to run a radio station.
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