NASSAU AUCTION

[Jimc]

I don't know...Bill Binnie or Goldman Sachs...I would think working for an actual broadcast veteran like Jeff Shapiro would make the most sense.

 

[NHRadio]

Funny you say that. The NE properties go to a joint Binnie/Shapiro bid of 12 million. No word on who gets what.

 

[Mainedude2007]

Except for the Cape stations which go to OHP's John Garabedian. WBQW 104.7, the Southern Maine end of Wbach goes for 150k to some company called Mainstream Media and the Catholic network that's been leasing WXTP 106.7 buys it outright.

Should be interesting to see what happens with W-BACH. I'm going to guess some of the Frank FMs in the group get blown up, or other stations keep their formats, but get new, less homogenized one side fits all branding.

 

[trixter]

My theory is Goldman Sachs will not keep any of the properties. This is a world bank and they will sell it to a company that meets their price. Banks are not in this to run radio stations but to make money. So whatever Goldman Sachs has from Thurs. Auction, you can count on it that they are in a selling mood but at a price.

 

[wcozBoston]

Who ended up with WFNK and WTHT?

 

[Gregg]

Only $150,000 for 104.7 in Kennebunk? I'm sure the other W-Bach stations didn't go for much more. Why didn't Maine Public Broadcasting buy the three W-Bach stations and keep them Classical so they could devote their primary FM stations to News-Talk?

Vermont Public Radio has two networks so it can run mostly News-Talk on its primary stations and Classical on its other stations, including one that's actually in NY State but just across Lake Champlain from Burlington.

 

[Mainedude2007]

Who ended up with WFNK and WTHT?

Only $150,000 for 104.7 in Kennebunk? I'm sure the other W-Bach stations didn't go for much more.

The entire VT/NH/Maine cluster (minus 104.7 & 106.7) went for 12 1/2 million to the Bill Binnie/Jeff Shapiro group. I don't know how many stations that is but it might have been a better deal than Blueberry buying the Clear Channel Maine group of 17 stations for 11 million back 4-5 years ago.

Why didn't Maine Public Broadcasting buy the three W-Bach stations and keep them Classical so they could devote their primary FM stations to News-Talk?
Vermont Public Radio has two networks so it can run mostly News-Talk on its primary stations and Classical on its other stations, including one that's actually in NY State but just across Lake Champlain from Burlington.

It would have been nice to see the WBach stations go as a group, then more people would be more optimistic that they wouldn't flip. With 2 of the 3 staying though, and being part of the bigger group they could slide the southern maine end back to 106.3 or 99.3

As for MPBN bidding on WBACH, if the state wasn't in such limbo over it's finances I'm sure it would have made a bid and taken ownership of the network.

 

[ThatGuyOnTheRadio]

Who ended up with WFNK and WTHT?

Only $150,000 for 104.7 in Kennebunk? I'm sure the other W-Bach stations didn't go for much more.

The entire VT/NH/Maine cluster (minus 104.7 & 106.7) went for 12 1/2 million to the Bill Binnie/Jeff Shapiro group. I don't know how many stations that is but it might have been a better deal than Blueberry buying the Clear Channel Maine group of 17 stations for 11 million back 4-5 years ago.

Why didn't Maine Public Broadcasting buy the three W-Bach stations and keep them Classical so they could devote their primary FM stations to News-Talk?
Vermont Public Radio has two networks so it can run mostly News-Talk on its primary stations and Classical on its other stations, including one that's actually in NY State but just across Lake Champlain from Burlington.

It would have been nice to see the WBach stations go as a group, then more people would be more optimistic that they wouldn't flip. With 2 of the 3 staying though, and being part of the bigger group they could slide the southern maine end back to 106.3 or 99.3

As for MPBN bidding on WBACH, if the state wasn't in such limbo over it's finances I'm sure it would have made a bid and taken ownership of the network.

That would be 28 licenses for $12.5 million. Pretty good deal!

Are Shapiro and Binnie in the same group together or will they split them?

Wasn't Shapiro part of Vox Radio Group with Ken Barlow when they owned WJYY,WNHI & WOTX? How serendipitous would it be for Shapiro to get back the same stations he sold to Nassau some 8 years ago.

 

[NHRadio]

Yes, if memory serves. He's involved with Great Eastern as well.

Wasn't Shapiro part of Vox Radio Group with Ken Barlow when they owned WJYY,WNHI & WOTX? How serendipitous would it be for Shapiro to get back the same stations he sold to Nassau some 8 years ago.

 

[trixter]

I really do not think Lou Mercatanti and Nassau are through quite yet. Goldman Sachs is a high profile bank and their main interest is making money. Mercatanti can always start up another company (with new investors) or one of his other existing companies to buy back a portion or maybe all of his radio empire. He once said earlier this year in an interview with the Laconia Citizen that he intends to buy back the radio stations from the auction. Maybe Goldman Sachs and Lou has struck up a deal? As I said before, the fat lady has not sung yet and I would not discount Lou and Company on anything!
Please click below for references...

http://www.citizen.com/news/2012-02-15/

http://pediaview.com/openpedia/Nassau_Broadcasting#cite_note-tc-mercatantibid-5

 

[ret vet]

They say anything is possible but I think you'd have to say it would be highly unlikely that, after burning thru a quarter of a billion dollars, someone would loan LM the cash to buy back his stations or any significant number of them. Would you?

 

[NHRadio]

That's what I think, but stranger things have happened.

 

[Media Watchdog]

Anything can happen, but after having a really good look at the financials of this deal, I really doubt Lou could play for anything more than a couple of the smaller Mid-Atlantic assets. He's burned through a lot of good will with the banks. Not to mention that he is in dispute with Goldman over some of the land. His best bet might be to lay low for a while.

 

[BenKarlow]

Given that Shapiro already owns as much as he can in the Upper Valley, there will be more activity in the coming months to sort it all out.

 

[taylorjsdad]

Given that Shapiro already owns as much as he can in the Upper Valley, there will be more activity in the coming months to sort it all out.

Also in Concord... he owns WTPL - Hillsboro. I also thought he was buying two other stations from Nassau the Concord/Lakes Region market???

 

[NERadio2007]

Pretty much all of the Nassau Properties have been dealt with the exception of VT, NH, and Maine (with the exception of 2 maine stations). Lou Mercantanti still owning the property of the towers is the achilles heal for Binnie and Shapiro. From my sources within the company, Binnie is footing most of the money to put up VT and NH, however he does not want to be paying Nassau for the tower properties. So the judge, forgive me I don't know the legal process or jargon well, but is giving Nassau an Aug 8 extentsion on the Chap. 11. So until August, those stations will continue to operate under Nassau I guess? Even though that company is dissolving? Below is the most accurate article dealing with the auction


http://www.foxbusiness.com/news/201...ds-at-nassau-broadcasting-bankruptcy-auction/