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Pappas Auction Details

D

DubbaDon

Most of the Pappas Stations involved in the Bankruptcy will be auctioned off in December. Pappas still has several stations that are operated by good people that are not involved in the bankruptcy. This seems to be a bad way to fire corporate management.

10% of the Bid plus $1 Million is due by 12/4.
Bids unsealed on 12/11.
Court approval on 12/16.

Seems a little high. TV's license to print money does not work if you have run the stations into the ground
 
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