• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

TOWNSQUARE MIGHT GET PEAK STATIONS

W

wirelessfugu

Townsquare Media could get Peak stations.

If the past is any indication of the future, the chapter 11 reorganization of Peak Broadcasting may be just the first step. It was a similar scenario that led to the merger of Millennium Radio into Townsquare Media.

From Inside Radio 1/13/12
 
It's Chapter 11,reorganization. The stations are being transferred from Peak Broadcasting LLC to Peak Broadcastin LLC, DIP (which is debtor in possession) from an FCC filing. It appears that Todd and Tim have lost their equity stakes in the station and they are now owned by two large banks/investment groups.
Rabobank and Oaktree Capital Management.

http://www.rbr.com/radio/trustee-to-oversee-peak-broadcasting-licenses.html
http://www.rbr.com/radio/oaktree-and-rabobank-to-become-peak-broadcasting-owners.html

Peak bought Fresno and Boise in 2006 for about 120 million. I would guess that after the recession started they had a hard time making payments with monthly interest alone being about $600K. (I'm guessing on the figure, but then add operating expenses and that's a lot of $20 to $100 spots to sell.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom