Bleidt Withdraws Objection To WBIX-A/Boston Sale
October 25, 2005 at 6:22 AM (PT)
Former WBIX-A/BOSTON owner BRAD BLEIDT has withdrawn his objection to the sale of the station back to former owner ALEX LANGER.
BLEIDT, who lost the station after admitting to defrauding investors, had objected to the sale on the grounds that the people he had defrauded would not be getting fair value for the property, a claim vehemently opposed by receiver DAVID VICINANZO. BLEIDT withdrew his objection to the deal, and federal Judge NANCY GERTNER said she will approve the $10 million deal ($1.5 million cash, $7.5 million debt forgiveness, $433,000. debt assumption). BLEIDT is awaiting sentencing next month.