More Financial Trouble at KOAS-KVGS ???

[Jay F]

Earlier this year the Riviera Broadcast Group went into receivership. Bank Goldman Sachs and finance company CIT took control. Recently I read that Goldman Sachs sold their share to CIT. Well now according to this article CIT is certain to file for bankruptcy this weekend. How crazy would that be?
If this is true what would happen to 105.7 and 107.9?

www.zerohedge.com/article/icahn-discloses-plans-cit

 

[boiseengineer]

REPORT NO. 47102 B R O A D C A S T A C T I O N S 10/30/2009


FM STATION APPLICATIONS FOR TRANSFER OF CONTROL GRANTED
-------------------------------------------------------

AZ BTCH-20091021AAQ KEDJ 54944 RBG PHOENIX LICENSES, LLC Voluntary Transfer of Control
E 103.9 MHZ GILBERT, AZ From: GOLDMAN, SACHS & CO.,
A NEW YORK LIMITED PARTNERSHIP
To: ATMOR PROPERTIES, INC.
Form 316


AZ BTCH-20091021AAR KKFR 41462 RBG PHOENIX LICENSES, LLC Voluntary Transfer of Control
E 98.3 MHZ MAYER, AZ From: GOLDMAN, SACHS & CO.,
A NEW YORK LIMITED PARTNERSHIP
To: ATMOR PROPERTIES, INC.
Form 316


AZ BTCH-20091021AAU KVGS 25752 RBG LAS VEGAS LICENSES, LLC Voluntary Transfer of Control
E 107.9 MHZ MEADVIEW, AZ From: GOLDMAN, SACHS & CO.,
A NEW YORK LIMITED PARTNERSHIP
To: ATMOR PROPERTIES, INC.
Form 316


AZ BTCH-20091021AAV KOAS 25692 RBG LAS VEGAS LICENSES, LLC Voluntary Transfer of Control
E 105.7 MHZ DOLAN SPRINGS, AZ From: GOLDMAN, SACHS & CO.,
A NEW YORK LIMITED PARTNERSHIP
To: ATMOR PROPERTIES, INC.
Form 316

 

[Jay F]

I did some research on Atmor Properties and this is what I found...

"A broadcast station holding company operated for the benefit of the CIT group".

 

[buzzdemming]

I guess this means no money to improve their sorry signal and crappy product? :'(