From today's "Inside Radio"...
Percy Squire’s Ohio radio group sells for $12M in a bankruptcy auction. The winner is the biggest debtor — D.B. Zwirn Special Opportunities Fund — which was due more than $16.7M of the $20,010,149 that Stop 26 Riverbend Licenses owed to as many as 15 creditors (January 11 Inside Radio). The Fund
operates Bernard Radio and it thus gets two stations in Columbus, OH — regional Mexican “Viva 103” WVKO-FM and Black Gospel/Talk “Inspiration 1580” WVKO. Plus three over in Youngstown — urban AC “102 Jamz” WRBP and the black gospel “Gift” simulcast of WGFT (1330) and WASN (1500). Bernard Radio has begun operating all five under an LMA. This is the second bankruptcy purchase for Bernard this year.
In January it acquired two Dallas area stations — “990 Texas Talk” KFCD and KHSE (700) — from David Schum’s The Watch Ltd. for $9M during its bankruptcy proceeding.
Percy Squire’s Ohio radio group sells for $12M in a bankruptcy auction. The winner is the biggest debtor — D.B. Zwirn Special Opportunities Fund — which was due more than $16.7M of the $20,010,149 that Stop 26 Riverbend Licenses owed to as many as 15 creditors (January 11 Inside Radio). The Fund
operates Bernard Radio and it thus gets two stations in Columbus, OH — regional Mexican “Viva 103” WVKO-FM and Black Gospel/Talk “Inspiration 1580” WVKO. Plus three over in Youngstown — urban AC “102 Jamz” WRBP and the black gospel “Gift” simulcast of WGFT (1330) and WASN (1500). Bernard Radio has begun operating all five under an LMA. This is the second bankruptcy purchase for Bernard this year.
In January it acquired two Dallas area stations — “990 Texas Talk” KFCD and KHSE (700) — from David Schum’s The Watch Ltd. for $9M during its bankruptcy proceeding.