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What's the status of the WRMM radio sale?

T

The Voice of Reason

By now I would have thought some announcement would have been made regarding a new owner of WRMM and the two other FM stations CBS had on the market for sale. So far no word from the HSBC Plaza. What gives?
 
I've seen some veiled references in several news stories.

I guess what is happening (and the way I understand it) is that the parties that would be naturally interested; like Entercom and Clear Channel, would like to have bought everything from CBS and then would sold-off individual stations they didn't want. The way the FCC rule is now is that you can't buy anything that would put you over the cap, even if your intent is to sell it to a third party.

For reference check out this weeks sale of Clear Channels stations in Utica. It took three different operators to be able to absorb their cluster there. That has to be hard to accomplish.

I imagine that CBS wants to sell the remaining three as a package to maximize the sale price. After all, if they sold WRMM to a single owner who is going to give them maximum value for just a couple of Class A's?
 
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