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Who would buy WODE? Nassau asks judge for auction

R

radiophiler

Who might buy WODE, 99.9, Easton? Nassau has asked a bankruptcy judge to allow the auction of its stations.
This would also include 94.5 WPST Trenton, 107.1 licensed to Belvedere, NJ, a valley rim-shot, and the various AMs Nassau owns in the Lehigh Valley (1320 and 1230) elsewhere in PA.
I think Clear Channel would be barred, not because of FCC market cap, but because of Justice department monopoly considerations. Would Cumulus be interested in adding another FM in the Valley? Would the owners of WHOL love to have a full-market FM signal for their current AM-AM-low-wattage-FM trimulcast? Does Joe Timmer have the money to buy it?
 
If Cumulus gets any of the stations, you already know that they're gonna let air staff go as soon as the acquire it (them?) 107 The Bone should be kept alone whoever buys it, 935 SBG needs a complete format change (Stroudsburg has already has 106.3 107.9 104.1 and 96.7 offering very similar top40/hot ac formats). WVPO can only get better, they're literally a closet in the building with nothing local. WODE is good the way it is, and one of the AM stations should offer a classic hits or oldies music format.
 
ty_kleinle said:
If Cumulus gets any of the stations, you already know that they're gonna let air staff go as soon as the acquire it (them?) 107 The Bone should be kept alone whoever buys it, 935 SBG needs a complete format change (Stroudsburg has already has 106.3 107.9 104.1 and 96.7 offering very similar top40/hot ac formats). WVPO can only get better, they're literally a closet in the building with nothing local. WODE is good the way it is, and one of the AM stations should offer a classic hits or oldies music format.
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Doubtful Cumulus could grab 99.9 with what the already own. It'll have to be an outside company...maybe Entercom comes in.
 
The big boys aren't going to buy a single stick. They buy the market and have to please the investors with over 30 shares. Won't happen.
 
LOL!...I have been reading with much thought of the decision to auction off Nassau Properties to satisfy debts. I would think there will be an attempt to auction off, if not all, of New England's properties FIRST or OTHER struggling assets before touching their more successful stations.  AND, with all sides considered, I am sure this process will be anything but "routine."  Expect surprises and craziness as before.
 
Why would they try to sell PST? its one of the highest rated stations in bucks from what I've read. I dunno how WODE does though.
 
They're selling WPST, WODE, the big stations in Boston, et al. They're liquidating the company's assets. They owe $280+ mil. It won't begin to cover the whole amount, not at today's values.
 
amfmsw said:
They're selling WPST, WODE, the big stations in Boston, et al. They're liquidating the company's assets. They owe $280+ mil. It won't begin to cover the whole amount, not at today's values.
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I would be surprised if that would happen. If this company was mine, I would hire Donald Trump as a consultant. You may laugh at this idea but how many times has this businessman "manages" through bankruptcies and always finds a way to maintain his wealth and empire? I don't think Nassau is through by a long shot.
 
I would hire Donald Trump as a consultant. You may laugh at this idea but how many times has this businessman "manages" through bankruptcies and always finds a way to maintain his wealth and empire? I don't think Nassau is through by a long shot.
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Donald Trump had business units that went into Chapter-11 reorganization but he kept all the units separate. Example: his Trump Plaza casino in Atlantic City went bankrupt but his other casinos, hotels, and golf courses did not. Trump was able to reorganize, he was never forced by the court to sell. All of Nassau Broadcasting is in bankruptcy not the individual stations, and Nassau owes the money to, among others, Goldman Sachs.

Nassau is being advised by Rothschild Inc. and between them and the boys at Goldman they have been through every option possible, and all agreed with the court that selling all the stations is the best way to get the most money for the creditors now.

What happened here is the equivalent of when house prices were at their peak some guy went out and bought as many houses as he could at top prices with balloon mortgages. The time has come for the houses to be re-mortgaged, but with the housing bust they are now only worth half of what he paid for them. Nobody is going to give him a $500,000 mortgage on a house that is only worth $250,000. Mortgage holders want collateral.

So, Nassau owes $284-million, and selling everything isn't likely to bring in anything near that much in today's market. The lenders, including Goldman Sachs, are going to take big haircuts and tax losses, and Nassau is going to disappear.

The stations may be sold as one unit, as clusters or as individual stations but they will all be sold to get the lenders as much of their money back as possible. Unfortunately, it's most likely all over for Nassau and the fat lady is getting ready to sing.
 
They don't own anything in Boston. They sold WCRB 99.5 to WGBH Non-Commercial Public Radio a few years ago.

Greater Media:

92.9 - AAA
96.9 - Talk
102.5 - Country
105.7 - Classic Hits
106.7 - Soft AC

CBS:
98.5 - Sports
100.7 - Classic Rock
103.3 - Oldies/Classic Hits
104.1 - Hot AC
1030 - All News (Days)/Talk (Night)

Clear Channel:
94.5 - Rhythmic CHR
107.9 - CHR/TOP 40
1200 - Talk
1430 - Spanish "MIA"

Entercom:
93.7/850 - Sports
107.3/97.7 - Rock
680 - Talk

Salem:
590 - Religious
950 - Religious (I believe they may air a few talk shows) and they're known for their long-running Irish Show
1150 - Spanish Religious

Others:
101.7 - Alt. Rock - is independently owned by The Boston Phoenix Newspaper.

890/1400 Spanish - Gois Broadcasting

1090 - Radio One - LMA'd to China Radio International

1360/1470 Multi-Cultural Broadcasting

1510 was owned by Blackstrap Broadcasting they're doing brokered Progressive Talk

1600 is all Ethnic as is 1550 (different owners)

1330 is all Ethnic and is owned by Beasley Broadcasting

740 is a small one man operation owned by Bob Bitner and is listener supported and plays Standards/Big Band/Swing Music

1060 is owned by a Catholic Group
 
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