A Deep South owner of AM and FM stations was all set to turn all of its remaining stations over to a debtor in possession.
As of Nov. 9, that’s no longer happening – thanks to this company’s termination of a bankruptcy proceeding.
In other TRANSACTIONS TODAY: Beasley closes on a translator now in Augusta, Ga.
According to an FCC Broadcast Actions report for Nov. 15, applications for an involuntary assignment of license to a debtor in possession for Delta Radio Network have all been dismissed.
This is the result of a proceeding held Nov. 9 that effectively terminates the bankruptcy of the company.
As a result, WNIX-AM 1330 in Greenville, Miss.; WNLA-AM 1380 in Indianola, Miss.; WIQQ-FM 102.3 in Leland, Miss.; WLTM-FM 97.9 in Greenville, Miss.; WDTL-FM 105.5 in Indianola, Miss.; and FM translator W266BY in Greenville will retain their current ownership structure.
The avoidance of a Chapter 7 or Chapter 11 move for Delta Radio Network does not impact its previously announced sale of KFFA-AM 1360 & FM 103.1 in Helena, Ark., to High Plains Radio Network, headed by Monte Spearman.
In other TRANSACTIONS TODAY for Wednesday, Nov. 16:
- Beasley Media Group has closed on the purchase of the construction permit for FM translator station W258CR in Bryson City, N.C., from Western North Carolina Public Radio for $45,000. The translator is now W270CY and has relocated to Augusta, Ga., for use by Beasley as a vehicle to bring News/Talk WGAC-AM 580 in its market cluster “revitalization” via an FM simulcast. Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker in this transaction.