Clear Channel-Blue Point Deal Terminated
August 8, 2007 at 3:48 PM (PT)
ALL ACCESS hears that a memo sent to the stations involved in the CLEAR CHANNEL deal to sell several clusters to CHRIS DEVINE's BLUE POINT MEDIA says that the deal has been terminated.
According to the contracts filed with the FCC, DEVINE was supposed to pay $45.7 million for KID-A & F/IDAHO FALLS; KLLP/CHUBBUCK, ID; KPKY & KWIK-A/POCATELLO; KEZJ, KLIX-A & KLIX-F/TWIN FALLS, ID; KKCB, KLDJ & WEBC-A/DULUTH; KBMX/PROCTOR, MN; KBUR-A & KGRS/BURLINGTON, IA; KBKB-A & F/FT. MADISON, IA; KBBB, KBUL-A, KCTR & KKBR/BILLINGS; KMHK/HARDIN, MT; KZMY, KMMS & KMMS-F/BOZEMAN, MT; KISN/BELGRADE, MT; KPRK-A & KXLB/LIVINGSTON, MT; KYSS & KGVO-A/MISSOULA, MT; KLCY-A/EAST MISSOULA, MT; KLTC/SUPERIOR, MT; KBAZ & KLYQ-A/HAMILTON, MT; and KSEN-A & KZIN/SHELBY, MT. He was also set to pay $16.5 million for 11 WYOMING stations, KTWO-A, KMGW, KTRS, KWYY, and KKTL/CASPER, KLEN/CHEYENNE, KIGN/BURNS, KOWB-A and KCGY/LARAMIE, KRVK/MIDWEST, and KGAB-A/ORCHARD VALLEY.
The memo says that CLEAR CHANNEL will be looking for a new buyer for the stations.