https://radioinsight.com/headlines/2629 ... hin-weeks/

This does not sound like they will emerge as a healthier business.

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Deni$ had a post thinking this was coming. Not really sure what it would me until it all washes out I guess?

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Any future chance of shutting the Score down locally would be absolutely amazing.

About to jump on a call. I will review the news and provide an update.


Yes, all their filings since November signaled a restructuring most likely through the courts.

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Hawaii (fuck) You

Zero, even if they liquidated that asset would be sold off. It has lots of value. The only chance is if the buyer of the frequency wanted to change formats.

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Hawaii (fuck) You

So you want the station to be shut down? that would be amazing?

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"He is a loathsome, offensive brute
--yet I can't look away."

Maybe what he really would want is an WSCR management restructuring?

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Ok just read the WSJ article. This is a standard Chapter 11 filing for a prepackaged bankruptcy (Chapter 7 is liquidation as a reminder, while 11 is a restructuring).

The Senior Lenders will own the company and provide financing to operate the business.

Once they emerge, they should have a cleaner balance sheet (read lots less debt). The business will probably be chopped up and sold, but it could simply be stripped down to core assets and then run as is. It is likely that the lenders (now equity holders) will either IPO the company or sell it in whole to a player in the industry.

I expect very little to change with the radio stations other than who owns them.

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Hawaii (fuck) You

He wants them to sound like ESPN Radio, a station literally nobody listens to.

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Aren't the contracts of talent voided at this point Deni$?

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That’s a good question. I know rental leases can be broken in bankruptcy court. I am not sure about employment contracts, and that has never come up in any bankruptcy that I have been involved in.

As I posted before on this topic, the underlying business produces cash. Sure there have been declines in the ad market, but the business is still viable. The much bigger problem was an unsustainable debt load created by all the acquisitions. My point- anyone operating this business to create value would probably want to keep most of the talent in place.

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Hawaii (fuck) You

Looks like it can be rejected.

“ Bankruptcy Estate
For bankruptcy purposes, your employment contract is property that becomes part of the bankruptcy estate. The bankruptcy estate is a collection of all the debtor's property. Once the debtor files bankruptcy, the trustee or, in a Chapter 11 case, the debtor in possession, gains control of the bankruptcy estate and may make decisions about what actions best serve your employer's creditors' best interests. Where your employment contract is concerned, the trustee generally may either assume or reject it.”

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Hawaii (fuck) You

What about their Cubs radio deal? Can they get Ricketts to renegotiate?

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"When people want their version of the truth, they go find it, no matter how baseless their beliefs." -- Ken Rosenthal

May I introduce you to Diamond Sports, the owner of the Bally RSNs? They can show you how this is done.

Justin fields and Larry Holmes package trade deal to San Diego

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the world will always the world. your entire existence is defined by your response.

I assume Bernstein is making the biggest coin, so...uh-oh?

He was a gay, Scotti

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he can make more elsewhere.

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the world will always the world. your entire existence is defined by your response.

You can break virtually every contract in bankruptcy. I doubt Bernstein's contract alone is big enough to warrant special treatment. On the other hand, if there's a whole class of guys like him across their various stations, that class might be a prime target for cost savings.

I don't understand how we arrive at "very little will change" from ownership under creditors who probably have no desire to be in the radio business and will cut operating costs to the bone. I think that will change things very much. This could easily get rid of every live/local DJ in the company, for instance.

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But they will cut his pay, and when he complains, tell him that they voided his contract.

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The creditors are simply lenders that never intended to own radio stations. They just want to maximize their recovery of money lent. I doubt they blow it up. But who knows…

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Hawaii (fuck) You

The creditors will just sell the radio stations. In bulk or individually. Some stations are worth more than others obviously.

Rickets or reinsdorf might want to buy the score.

You are right but that conversation would be something to hear. Virtually every broadcast radio big shooter has taken a big haircut or lost their gig in the last 10 years.

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If you're buying an AM station in 2024, you're buying it for the transmitter real estate. They sold WBBM's land to put up, like, a Public Storage or something.

It would be nice to see WXRT come out of this as a not-for-profit like WFMT. Most AAA stations are non-commercial: WFMU, WXPN, the Current, KEXP. Ours is an anomaly in running 16 minutes of spots per hour. Wonder if the S-T/WBEZ has the money to buy it on the cheap.

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You need to gamble so you can pay for those windows. That way you don't have to skype the psychiatrist.

HI I'M MAGGIE WEBB

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Yep. Buy it on the cheap. Use the real estate like you said. Don’t rent offices or studios anymore. Make the hosts broadcast from home. No more partners. Just have one host per show. Make them do a 5 hour show. Do all that, the new owner makes a profit.