Sale Of Nassau Stations Approved At Hearing Today
May 7, 2012 at 4:48 AM (PT)
The sales of several of NASSAU BROADCASTING's stations were approved by Judge KEVIN GROSS at a hearing in U.S. Bankruptcy Court in DELAWARE TODAY (5/7).
GOLDMAN SACHS CREDIT PARTNERS L.P., NASSAU's creditor, has used its credit bids in an aggregate of $38.7 million to buy Top 40 WPST, and Religion WCHR-A/TRENTON; Sports WNJE-A (simulcast of WEPN-A/NEW YORK)/FLEMINGTON, NJ, Classic Hits WODE (99.9 THE HAWK), Religion WBYN-A (THE LIGHT 1160 AM), Sports WEEX-A-WTKZ-A (ESPN 1230 AND 1320), and Active Rock WWYY (107 THE BONE)/EASTON-ALLENTOWN-BETHLEHEM; Hot AC WSBG/STROUDSBURG, PA; and Talk WVPO-A/STROUDSBURG-WPLY-A/MOUNT POCONO, PA.
MANNING BROADCASTING INC. is paying $6.4 million for Top 40 WAFY/FREDERICK, MD and Talk WARK-A and Classic Hits WWEG (106.9 THE EAGLE)/HAGERSTOWN, MD.
JOHN GARABEDIAN is paying $2.7 million for Adult Hits WFQR-WFRQ (FRANK FM) and Classic Rock WPXC (PIXY 103)/CAPE COD.
THE PRESENCE RADIO NETWORK, a non-profit company, is buying Religion WXTP (THE PRESENCE)/PORTLAND, ME, which the winning bidder is already programming (since JULY 2010) and was in the process of buying prior to NASSAY's bankruptcy..
And MAINESTREAM MEDIA, LLC won the bidding for Classical WBQW (W-BACH)/KENNEBUNKPORT, ME at $150,000.