Buy yourself a radio station, March 2, in Fort Lauderdale

Kelly A said:

My guess is Miller is the current court appointed 'receiver' operating the station until a new owner/licensee can be found. It happens all the time when stations go Chapter 7 after being considered insolvent. Essentially the receiver keeps the lights on and protects the operation at a predetermined state. Chances are the new owners won't be required to take on that many of the obligations (debts) incurred by the previous owner, but they can still be a haunting presence for the new folks.

I helped a friend purchase an insolvent station from auction years ago. The challenge was rebuilding good will with advertisers and business in the market, because more often than not, the previous owner ran up HUGE lopsided trade deals with advertisers, having never fulfilled most of the agreements. Advertisers don't care about a station emerging from bankruptcy protection, new owner or not.

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This whole thing with Miller began with someone posting that JCR's old GM, Steve Lapa, posted his new job title of 'Chief Strategist' (a Chief Stratedy Officer) with Miller Broadcasting. That's someone who works hand-in-hand with a CEO, so he's assisting either Lisa or Matt Miller, (the president and vice president), in some capacity.

Also, earlier posts are saying/guessing that Miller was/is Barsky's agent? So, that's where the Miller connection, speculations are coming from. Other supposed inside intel says there were no bidders on the JCR properties.

Earlier posts, claiming inside intel, said that the old management was out. So, that tells us (??) that Lapa, Hines and Johns aren't overseeing the station anymore. They would be the old management, no?

I wish Radio Insight or All Access, some trade paper would just do a follow up story with the note holder/Capital company, or the law firm that was put in charge of receiving bids and report on the current status.