Nassau, Riviera Plans Filed With FCC
May 26, 2009 at 5:43 AM (PT)
The previously disclosed restructuring of NASSAU BROADCASTING's debt has arrived at the FCC, with the paperwork being filed to grant the company's lenders, led by GOLDMAN SACHS, 85% equity in the company in exchange for 2/3 of the outstanding debt.
Also filed with the FCC is the previously announced restructuring of RIVIERA BROADCAST GROUP, with GOLDMAN SACHS and ATMOR PROPERTIES each getting 50% voting interest and 35% asset interest in the company, which owns staitons in PHOENIX and LAS VEGAS.
JACKMAN HOLDING COMPANY, LLC is selling WTTT/STRATFORD, NH to SILVER FISH BROADCASTING, INC. for $100,000, payable "when the assignee board determines it is able to do so," plus a charitable contribution.
L.M. COMMUNICATIONS OF KENTUCKY, LLC is selling a construction permit for a new FM at WESTWOOD. KY to SERGE MARTIN ENTERPRISES, INC. for $110,000.
And MARATHON MEDIA GROUP, L.L.C. is selling KLPW/ELSBERRY, MO and construction permits for new FMs at CUBA, MO and WHEATLAND, MO to RANDY WACHTER's BROADCAST MANAGEENT, INC. for $344,000.