Report: Merlin Media Stations On The Block
September 26, 2012 at 3:59 AM (PT)
Are MERLIN MEDIA's stations up for sale? TIME OUT CHICAGO's ROBERT FEDER reports that private equity firm GTCR, which backed RANDY MICHAELS' venture, has decided to sell and is "actively seeking buyers" for the stations, with MOELIS AND COMPANY handling the sale.
The stations include Alternative WRXP (NEW ROCK 101.9)/NEW YORK, Talk WWIQ (IQ106.9)/PHILADELPHIA, Alternative WKQX (Q87.7), Adult Hits WIQI (i101) and Classic Rock WLUP/CHICAGO.
"Everything is in kind of a holding pattern to try to show cash flow so they can get the most out of it," one insider told FEDER.
Contacted by ALL ACCESS, MICHAELS simply said, "MERLIN MEDIA is not for sale."