NextMedia looks for another sucker..

[adz]

Inside Radio has posted NextMedia's latest attempt to find someone stupid enough to take over their five station cluster in Decatur as the GM.

This from a company that still has not posted fourth quarter 2005 numbers, has four million cash on hand (good luck getting moving expenses reimbursed) and had to refinance 200 million dollars in debt..that could be due as early as July 1 of this year..

Question is--is this the beginning of the end? Did somebody bail out while the getting was good? Is this is a signal that (as has been mentioned here before) that the cluster, along with other NextMedia properties, is for sale? And could be had for a fire sale price?

 

[TheBootlegger]

> Inside Radio has posted NextMedia's latest attempt to find
> someone stupid enough to take over their five station
> cluster in Decatur as the GM.
> Question is--is this the beginning of the end? Did somebody
> bail out while the getting was good? Is this is a signal
> that (as has been mentioned here before) that the cluster,
> along with other NextMedia properties, is for sale? And
> could be had for a fire sale price?

There is no "greater fool" these days so, yes, NM could be
preparing to exit the biz. This should be interesting since
they certainly paid some BIG BUCKS for stations in
the Chicago metro. (note to NM management: no matter how
many times you try to tell advertisers that your stations
in Joliet, Kenosha, Woodstock and Waukegan are "Chicago"
stations, no one is stupid enough to believe you) Good
luck making money on a sale of WXLC in Waukegan for anywhere
near the 9 Mil you paid for it!
<P ID="edit"><FONT class="small">Edited by TheBootlegger on 02/12/06 06:41 AM.</FONT></P>

 

[RockManAC]

> This from a company that still has not posted fourth quarter
> 2005 numbers, has four million cash on hand (good luck
> getting moving expenses reimbursed) and had to refinance 200
> million dollars in debt..that could be due as early as July
> 1 of this year..

I thought they were a privately held company which would mean they wouldn't have to report that.

-A<P ID="signature">______________

</P>

 

[RadioDoc]

> > This from a company that still has not posted fourth
> quarter
> > 2005 numbers, has four million cash on hand (good luck
> > getting moving expenses reimbursed) and had to refinance
> 200
> > million dollars in debt..that could be due as early as
> July
> > 1 of this year..
>
> I thought they were a privately held company which would
> mean they wouldn't have to report that.
>
> -A
>

Yes, but some of their investors are publicly held, so they have to report as though they were a public company.<P ID="signature">______________
</P>

 

[adz]

And this from insideradio.com

NextMedia has now sold its Erie, PA cluster for just under 14 million dollars..the fire sale has started..

 

[zachm]

Has anyone ever worked for them in an engineering capacity before? How are they to work for?<P ID="signature">______________
Zach Morton
Chief Engineer
Legend Communications Of Wyoming, LLC.

</P>

 

[tmesser]

> Has anyone ever worked for them in an engineering capacity
> before? How are they to work for?

Working as a part-time engineering/IT assistant for NM has been a rewarding experience for me.

You may want to email RadioDoc (see below) for more info, as he was a chief in one of their markets for a few years.

 

[mccay]

Actually, it could be the other. Skip cutting everything to the bone so his IPO numbers look really good.

People I know working for the company are all not happy with the way Skip is doing things. His right hand people are gone because they got fed up with him. He got into something over his head with San Jose.

They also blew out the ENG in the north Chicago cluster for reasons no one is talking about. Which is not a good sign either.

GR


> Inside Radio has posted NextMedia's latest attempt to find
> someone stupid enough to take over their five station
> cluster in Decatur as the GM.
>
> This from a company that still has not posted fourth quarter
> 2005 numbers, has four million cash on hand (good luck
> getting moving expenses reimbursed) and had to refinance 200
> million dollars in debt..that could be due as early as July
> 1 of this year..
>
> Question is--is this the beginning of the end? Did somebody
> bail out while the getting was good? Is this is a signal
> that (as has been mentioned here before) that the cluster,
> along with other NextMedia properties, is for sale? And
> could be had for a fire sale price?
>

 

[radiolover99]

looks like they found one. They sold their stations?

 

[dannywright691]

quincy is a horrible market./

 

[billythekiddd09]

is nextmedia is really as bad as I hear from this blog? Are they a good operation? I'm up for a gig for one of this cluster. Can't say too much. But, anyway. Thanks for anything you can give me.