Is A Sale Close At Interep?
October 28, 2008 at 5:45 AM (PT)
As ALL ACCESS reported YESTERDAY (NET NEWS 10/27), Federal bankruptcy trustee KENNETH SILVERMAN was keeping INTEREP open this week as the future of the company is sorted through, including the rumor of an internal offer to possibly save the financially embattled rep firm, or parts of it.
Our sources inside the company are hinting that a deal to sell INTEREP, or parts of it, could be announced before the end of this week.
Will INTEREP clients like CBS and ENTERCOM stay? Last we heard was that they were each preparing for a future without INTEREP. Will they go to KATZ MEDIA? Or, will one of them become the nucleus of its own national rep firm to compete with KATZ?
CBS VP/Communications KAREN MATEO told ALL ACCESS YESTERDAY (10/27), "INTEREP is still currently representing CBS RADIO stations."