KEYMARKET

[Parttimer]

Heard recently that back when they dumped their most marketable signal, 98.3 to K-love, they were petty much bankrupt, and are now controlled by their primary lender, the Bank of Montreal.

That's completely opposite to what we heard from one poster here, that they are "extremely profitable" (which I would doubt).

Anyone know more?

 

[cingram]

Somebody correct me if I'm wrong, but I think 98.3 is still owned by Keymarket and is being leased to EMF/K-Love.
I don't believe the proposed sale has consummated.

C.

 

[Rallen1st]

...they were petty much bankrupt, and are now controlled by their primary lender, the Bank of Montreal... ...Anyone know more?

Yeah, I'd love to know more about that myself especially if indeed are being controlled by the Bank of Montreal as mentioned here.... I believe the FCC kind of frowns on foreign ownership or control of US broadcast stations - http://transition.fcc.gov/ib/Foreign_Ownership_Guidelines_Erratum.pdf

 

[Parttimer]

I'm sure there's some structure in place to keep it legal.... Just curious if the financial situation is as weak as was described...

 

[TomT]

Still licensed to Keymarket, K-Luv operates under an LMA.

 

[only1moore]

Still licensed to Keymarket, K-Luv operates under an LMA.

I wouldn't be surprised if EMF buys 98.3, since they seem to be on a buying spree these days.

 

[kenhawk1160]

Still licensed to Keymarket, K-Luv operates under an LMA.

I wouldn't be surprised if EMF buys 98.3, since they seem to be on a buying spree these days.

Why would Forever sell? You collect guaranteed income each month, dump your overhead, and still keep the stick and license.