More Nassau cutbacks

[splicer38]

Just got credible confirmation that Mr. Shapiro is the winning bidder for Nassau properties.  Package my be "different" than what was offered.  Good Local broadcaster takes over failing corportate stations... nice headline.

[Jimc]

well,when will this go public? anything can be said here without verification.

i had actually heard that scott mcqueen's old partner was making a bid.

[NHRadio]

From what I've heard, Splicer is right. I also have been told by an inside source they will be taking over Nassau's Hooksett facility. It appears Goldman Sachs/Nassau will consolidate all except WFNQ in Village West.

[splicer38]

JimC... You make me laugh!  Scott, Randy and Ted want NOTHING to do with NH radio ever again!  They made their millions and do not want back in NH. If memory serves Ted exited Sconnix before they totally divested.  Randy I think is still active but down south somewhere.
You are right, nothing is official until we see the joint press release.  We shall see but from what i've heard it's 90% done and yes part of the deal is the Hooksett facility.

[Mainedude2007]

So if the NH cluster is sold, any rumblings about Portland? I think it was only 106.7 that was being sold off there...

[ebol]

Interesting they're selling off smaller properties, understandibly and collectiely worth a pile of change.

As for JimC and the reference to the old Sconnix boys ...

Scott's unning a charterboat biz in Costa Rica (when he's not golfing)

Ted Nixon is...somewhere

Randy Odeneal spends more on styling mousse than these stations are worth in annual sales...

But you never know do you?

[Marconi]

I'm reading the comments on this about the various owners who might be in the hunt for these properties and I get a chuckle.  I'm not sure lots of people would agree with Clicker's opinion of Mr. Silberberg as an operator.  There are many who don't believe Mr. Shapiro is God's gift to radio either.  His Upper Valley cluster has had a continual swinging door in the programming department since it was purchased.  I think there are 3 or 4 fulltime programming people for 4 radio stations.   His stations only live for sales. Programming and community service are simply there to facilitate the sales department who rule the stations with an iron fist.  Mr. Schmidt and Mr. Fisher do have excellent reps. 

[NHRadio]

I'll second that. I'm a former employee of Mr Schmidt and currently work for Jeff Fisher. They are both outstanding operators and great people. 

  Mr. Schmidt and Mr. Fisher do have excellent reps. 

[splicer38]

As for Portland I think Doc Fuller is getting that one.  That's all I've heard, however, Mr. Silverberg might want that one to expand his "River" Brand.

So if the NH cluster is sold, any rumblings about Portland? I think it was only 106.7 that was being sold off there...

[Jimc]

Ok, leave these two out of the picture (from www.radioonline.com):


Alabama Radio Group Bluewater Files Bankruptcy
Bluewater Broadcasting/Montgomery, AL, has filed for chapter 11 bankruptcy after Fort Lauderdale-based Landmark Bank called its loan asking for immediate repayment of $4.5 million. Bluewater's five radio outlets in Montgomery remain on the air while the company's finances are reorganized.

According to court records, Bluewater is more that $10 million in debt. Creditors include private equity firm Alta Communications, which backed Bluewater founders Scott McQueen and Rick Peters in launching the company five years ago.

Bluewater is now considering a sale of its Montgomery outlets, which include WBAM-FM (Bama Country 98.9), Oldies WQKS-FM (Q-96.1), Urban WJWZ-FM (97.9 Jamz) and News/Talk WACV-AM which it simulcasts on WMRK-FM under a Local Marketing Agreement (LMA) with Alexander Broadcasting. (09-02-09)