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Many sellers underestimate how much they will need post-exit and overestimate the company’s value. In this third Deal Killers Podcast, Community Broadcasters COO Bruce Mittman, President/CEO Jim Leven and Controller Peter Henderson share their thoughts on the important topic of "unclear post-closing goals." It's another RBR+TVBR member exclusive!

Some buyers regard the retention of key employees following the closing of a radio or TV station acquisition as an essential element of the deal. Yet, sellers often do not take into consideration the adverse impact of the exit of a key employee — or several. Should a firm succession plan be drafted before the Asset Purchase Agreement is signed? That is the focus of this exclusive "Deal Killers" podcast featuring the COO and CEO of Community Broadcasters, media broker Doug Ferber and respected D.C. communications attorney Erwin Krasnow.

What's a "deal killer"? How can you avoid them? To help best answer these questions, Garvey Schubert Barer communications attorney Erwin Krasnow and DEFCom Advisors CEO Doug Ferber created a new limited series of podcasts based on a 2017 Media Information Bureau column on this very subject. RBR+TVBR Editor-in-Chief is the host, and the guests are the operating partners of Community Broadcasters.

"Opinions expressed by Forbes Contributors are their own."  One Forbes contributor, former Media Life editor Gene Ely, just penned a guest commentary with the provocative headline "In The IHeartMedia Bankruptcy, Expect A Major Selloff Of Radio Stations." Really? We asked top D.C. attorneys and one broker for their opinions. Here's what they say.

A pair of Asset Purchase Agreements were filed with the FCC on Wednesday, March 1, that in the eyes of the Commission are no different than any other. The stations' licenses are going from one party to another. Money is being exchanged. However, there is a caveat: Through a "Shared Services Agreement," the seller will still have a large level of control of the stations. Is this fair? The Ajit Pai-led FCC says yes. Under prior FCC Chairman Tom Wheeler, the likelihood of these spins passing muster with the Commission would have been far more risky.

The Korean word for "sold" would be the most appropriate hand-written note on one Form 314 filing made with the FCC on Thursday. This deal sees the majority shareholder of NY Metro Radio Korea Inc. acquire what is, in reality, a low-power TV station with audio available at 87.7 MHz across the New York Tri-State Area.

Over the course of the next few weeks, RBR+TVBR will be turning to media brokers and communications attorneys for their take on what's in store for broadcast media owners in 2018, while taking a look back at 2017 and sharing their thoughts on what's happened for radio and TV industry executives. We begin this series with thoughts from Garvey Schubert Barer partner Erwin Krasnow.

In May 2016, Garvey Schubert Barer attorney Erwin Krasnow explained the role of brokers and buyers. Here, we revisit his advice on what he believes are typical questions to ask when selecting a broker.

Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic “Broadcast Deal Myths Debunked.” In this 10th and final podcast in this series, Ferber and Krasnow discuss "Murphy's Law" and "The Greater Fool Theory." In short, they do not apply to broadcast deals.

Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic “Broadcast Deal Myths Debunked.” In this ninth podcast installment, Ferber and Krasnow discuss the myth that one should avoid deal intermediaries.

Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic “Broadcast Deal Myths Debunked.” In this eighth podcast installment, Ferber and Krasnow discuss the belief among some that they can bank on 100% leveraged purchases.

Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic “Broadcast Deal Myths Debunked.” In this seventh podcast installment, Ferber and Krasnow discuss the one part of any transaction that goes beyond intellectual property, possession of a broadcast license, or equipment acquisition — real estate. This is one of Ferber's favorite topics. Why?

Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic “Broadcast Deal Myths Debunked.” In this sixth podcast installment, Ferber and Krasnow discuss what happens behind the mic, and in the offices and hallways of a broadcast station. Is a station's culture "perishable"? It's a hot topic, and Krasnow has some answers you may want to know.

Doug Ferber of DEFcom Advisors LLC and Erwin Krasnow of Garvey Schubert Barer have created a special podcast series exclusively for RBR+TVBR members based on a series of articles centered on the topic "Broadcast Deal Myths Debunked." In this fifth episode, Ferber and Krasnow discuss the topic of Broadcast Cash Flow. Is it easy to calculate? 

Great Expectations. It's not just the name of Charles Dickens' 13th novel, but may also describe the feeling many broadcast media C-Suite executives have for the deal-making they thought would be in movement by now. With FCC Chairman Ajit Pai now firmly in place through June 2021, one would think the market for radio and TV transactions would be exploding. Is everyone waiting for the Entercom spins? Is Sinclair's merger with Tribune Media spooking everyone? No, and no. But, the reasons why it's so slow are very clear to Frank Kalil.