ICBC, better known as Inner City Broadcasting Corporation, has been running broadcast facilities for a long time, and must be hugely popular in regulatory circles these days since their licenses can be added to the undersized minority-owned category. However, its 17 stations are primarily concentrated in four markets, meaning it can offer management advice in hundreds of other markets without a conflict of interest.
A message from ICBC’s Skip Finley notes that the company has three execs with more than 100 years experience between them on matters such as M&A, due diligence, operating multiple format platforms in large or mid-sized markets, management training and retention, market analysis, financial services and strategic direction.
It is looking to lend a hand in distress situations, and says its willing to offer full trustee operational services for stations with "an uncertain timeframe for asset sales."
RBR/TVBR observation: Finley makes no mention of any kind of ownership focus, nor should he – distress is distress. But if the company can help stressed minority owners keep their heads above water, that will be great news for the owners, and concerned individuals on Capitol Hill and at the FCC.
