Langer Buys Back WBIX-A/Boston
September 27, 2005 at 10:00 AM (PT)
ALEX LANGER is buying back troubled WBIX-A/BOSTON from its court-appointed receiver for $1.5 million, assumption of $433,000. in debt, and forgiveness of the $7.5 million LANGER is still owed by BRAD BLEIDT, who is awaiting sentencing after pleading guilty to mail fraud charges.
LANGER, who sold the station to BLEIDT three years ago, has been operating the station under an LMA with receiver DAVID VICINANZO since DECEMBER; the repurchase includes an agreement to pay the receiver 25% of any amount received over $10 million if the station is resold within three years.