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The Majic Garage Sale Has Started

Didn't Magic (Styles then) pay around $126M for the three stations in Cal? If they take 25M then they'd need 100M for KDAY's to come out even???? Somebody that's better with big numbers please help out here.
 
They paid $120,000,000 for KDAY and KDAI. McCoy already owned KWIE when the other two were purchased, and eventually sold it to the Styles group, of which he was CEO. KDAY recently improved their signal with a move to a higher elevation and new transmitter. With the KDAY/KDAI simulcast, they now cover most of the LA market.
 
Thank you Ricky. So they are selling off assets that were used as part of the original leverage to get the company expanding?? Any idea why? Seems that weakens the idea of selling the group as a package or are the parts now worth more individually or was this a move to raise cash and WIE was the easiest to move?
 
PC and Dothan will be sold as a package, assuming a buyer can be found, and KDAY/KDAI, which will increase in value once the signal improvements have been made completed, will follow.
 
I doubt PC and Dothan will be sold as a package...

-The rumored price $32 Million...is a little far fetching for what they have
-I don't see any buyers who would want both markets, MAYBE someone regional, but don't count on it.

But, these are theories, maybe I'm wrong any other's out there?
 
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