So many things to consider, so many unanswered questions! I've heard of single license mom-and-pop instances of Chapter 7, usually small-town AMs, but has this ever happened with a company holding as many FCC-issued broadcast licenses as Nassau does? Does the court have to take into account that these are radio stations serving the public interest and in some cases like up in Derby VT, theirs are the only stations in town? How much could Goldman Sachs recoup selling an assortment of transmitters, mics and desks and chairs vs. selling actual operating, money-making radio stations?
Seems here in Portland, the Nassau stations are promoting a $500 daily cash giveaway regardless!
I bet Herb and Randi (and JJ) are waiting this one out with bated breath!
Interesting times call for interesting refreshments... but I'm poor so it will have to be Milwaukee's Best for Portland's best!
Some of the leading experts on bankruptcy law have chimed in on the Nassau case. They feel that a judge most likely will rule chapter 11 or some other similar arrangement will be made. There is still substantial real cash flow with this company and judges are hard pressed to order liquidation of assets with chapter 7. And also, I have read from here and other sources that the court agreed with Goldman Sachs on an earlier hearing date. NO BIG DEAL! I saw the reasons why and G. Sachs got a little paranoid on some business transactions occurring with Nassau. Be nice if TruTV was televising the hearing but we all know that will not happen!