On Wednesday, December 1, the legal counsel representing the trustee for two FM radio stations in Florida Cox Media Group is required to sell in order to comply with FCC local ownership rules spoke by phone with the head of the Media Bureau.
Why? Media Bureau Chief Michelle Carey wants answers as to the necessary steps for the “CXR Radio Station Trust,” led by Houlihan Lokey broker Elliot Evers, to complete an “orderly process” of divesting the two radio stations.
Does this point to a capitulation with respect to Cox’s request that it get up to one year to sell the FMs, on the basis that the COVID-19 pandemic deflated their valuations and a rise in value could come in the next 12 months?
