Route 81 Foreclosure!!!!!!!!!

[Nairda]

From today's news on All Access:

Wednesday, July 16, 2008
Backer Forecloses On Radio Group
WALLERSUTTON 2000 LP, financial backer and 50% owner of several radio stations with ROUTE 81 RADIO, has foreclosed on ROUTE 81 and is taking ROUTE 81's 50% interest in the stations for its WS2K RADIO LLC. The stations include Talk WCOJ-A/COATESVILLE, PA; Classic Hits WGMM (GEM 98.7), Talk WENI-A and Sports WCBA-A (FOX SPORTS 1350)/CORNING, NY; AC WENI-F/BIG FLATS, NY; Talk WENY-A and AC WENY-F/ELMIRA, NY; Classic Hits WAZL-A/HAZLETON, PA; AC WLNP (LITE 94.3) and Spanish Hits WCDL-A (CALIENTE 1440 AND 730)/CARBONDALE, PA; Adult Standards WHYL-A/CARLISLE, PA; and Spanish Hits WNAK-A (CALIENTE 1440 AND 730)/NANTICOKE, PA. WALLERSUTTON 2000 foreclosed at a public foreclosure sale on MONDAY (7/14).

 

[Nairda]

Just looked at Lite 94.3 web site. There are no radio stations available on the big 50% off section ;D
Seriously-----they have a page that links to the other stations WCDL,WNAK and WAZL. The link to WCDL takes you to a site saying that WCDL is adult standards. The link to WNAK says YOUR KIND OF MUSIC but when you click on it it goes nowhere. The link to WAZL takes you to their web site and it still has the same jock line up and programs. Are they going to flip WCDL and WNAK back to standards or is this just another example of sloppy housekeeping?

 

[ChiaHead]

Relax people.This is all part of Ira's master plan,just watch and be amazed at his brilliance.

 

[kfitz]

The FCC transfer is now on file on the FCC's CDBS under WAZL. The new owners may just keep the same management staff in place..who knows. The new owners own the ESPN radio affiliate in Boston, Mass.

KF

 

[BrigThomson]

To make things even more interesting, apparently all Route 81 employees got stiffed on their July 15th payroll. They were told that they would be paid today, and it seems that now, there's no money to make good on their empty promises. Hopefully these poor folks will be able to get paid....how awful!

 

[SeenItAll]

Did Lyra get fired?

 

[Tom Woods]

To make things even more interesting, apparently all Route 81 employees got stiffed on their July 15th payroll. They were told that they would be paid today, and it seems that now, there's no money to make good on their empty promises. Hopefully these poor folks will be able to get paid....how awful!

Wow...I never had that happen to me while I was in the business....That's a real tough situation. Hope everything works out for all.

 

[berniek]

All I can say is Bob Nielson must be rolling over in the grave at the thought that the radio station he took so much pride in operating for decades, no finds itself in such a condition.

 

[BrigThomson]

Did Lyra get fired?

Of course not. Same snake, different skin.

 

[ColorRadio]

Here's a link to the license transfer application on the FCC database:

http://fjallfoss.fcc.gov/cgi-bin/ws.exe/prod/cdbs/forms/prod/cdbsmenu.hts?context=25&appn=101255825&formid=316&fac_num=132

 

[ThomasCarten]

To make things even more interesting, apparently all Route 81 employees got stiffed on their July 15th payroll. They were told that they would be paid today, and it seems that now, there's no money to make good on their empty promises. Hopefully these poor folks will be able to get paid....how awful!

Wow...I never had that happen to me while I was in the business.

Used to happen all the time at 92.1 in the earlier days. One of the people there said there were (let's say) 15 people at the station and enough money in the bank for 14. So during lunch on payday, they'd run down to the bank and the first 14 got paid that week. The unlucky sucker had to wait for more $$ to come in.