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WBON and WDRE sold....again

M

MrsN

Guest
The previous deal of December 2008 for John and Vic through JVC Broadcasting Corp to purchase WBON was dismissed by the FCC on 8/12/09.

A new deal for John and Vic along with Northwoodwood Ventures to purchase both WBON and WDRE through newly formed JVC Media LLC was submitted to the FCC on 8/18/09.

Purchase price of WDRE is $1,000,000.

Purchase price of WBON is $1,700.000.

Purchase agreement for WDRE is here: https://fjallfoss.fcc.gov/prod/cdbs...h.cgi?exhibit_id=782729&formid=314&q_num=5030

Purchase agreement for WBON is here: https://fjallfoss.fcc.gov/prod/cdbs...h.cgi?exhibit_id=782716&formid=314&q_num=5030

Northwood Ventures is a private equity investment firm and is no stranger to the broadcasting industry with an interest in Atlantic Broadcasting serving Atlantic City NJ and Cape May NJ as well as Community Broadcasters LLC in Watertown, NY - http://www.northwoodventures.com/communications.html

It would appear that John and Vic could not find financing for the original deal and had to reach out to "Corporate America" for help.

Any thoughts on how this will boad for "live and local" on Long Island?
 
Live and local is dead and gone, no matter how "corporate america" tries to make the product "live and local." I can have a sense that sooner or later, these formats may tweak or flip altogether. Let's hope not. We have seen Party 105 tweak once and no need to see it again. We have seen WBON drop rock for Business Talk and then flipped to Tropical. What's next, a clone of BLI?
 
So when WBON was business talk, did Businesstalkradio.net also own Party 105?

The time when 98.5 was WBZB was also the time when Party 105 was 85% dance.
 
Nick said:
So when WBON was business talk, did Businesstalkradio.net also own Party 105?

The time when 98.5 was WBZB was also the time when Party 105 was 85% dance.
Click to expand...

No. WBZB was operating under an LMA with Jarad pending the closing of the purchase. Though it was announced that all 3 Jarad stations including WLIR would be sold, WDRE never was part of that deal. Ultimately, Businesstalkradio.net was never able to get the financing needed to complete the purchase of any of the Morey stations.
 
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