According to published reports, the sale of WOKN-FM, WLVY-FM, WELM-AM and WEHH-AM in the Elmira-Corning market from Pembroke Pines Elmira to Great Radio LLC is off the table. Bill Christian heads the group that sought to purchase the facilities, including four translators for $950 thousand.
Less than a year ago, a $2.75 million deal was in place to sell these signals plus two more to Titan Radio LLC, headed by Randy Reid and Robert Cibulsky. That deal went south.
Christian's attempt to close the deal came under fire from Reid Media Group and Community Broadcasters, which charged that Christian would have a lock on the Elmira-Corning because his wife Paige is a principal at Sound Communications, which owns six other properties in the market.
$950 thousand seems a lot to pay for what is essentially two Class A FM's (the AMs are negligible, although they could be brokered and add to the cash flow), but the price would have been a bargain for Christian had he been able to wrap up control of the market.
Who's next to bid? Genesee Media?
$500 thousand cash. Take it or leave it.
Less than a year ago, a $2.75 million deal was in place to sell these signals plus two more to Titan Radio LLC, headed by Randy Reid and Robert Cibulsky. That deal went south.
Christian's attempt to close the deal came under fire from Reid Media Group and Community Broadcasters, which charged that Christian would have a lock on the Elmira-Corning because his wife Paige is a principal at Sound Communications, which owns six other properties in the market.
$950 thousand seems a lot to pay for what is essentially two Class A FM's (the AMs are negligible, although they could be brokered and add to the cash flow), but the price would have been a bargain for Christian had he been able to wrap up control of the market.
Who's next to bid? Genesee Media?
$500 thousand cash. Take it or leave it.