West North Carolina deal revisited


We have word from Receiver George Reed that the deal sending six radio stations in unrated portions of western North Carolina is not a bankruptcy, as we reported Monday. The 2.325M deal sending two AMs and four FMs to Donald W. Curtis Jr. kind of looks like one, though. Here’s how they spelled it out in the contract. The deal is pursuant to a case heard in the General Court of Justice Superior Court Division for Buncombe County NC. The case, Branch Banking and Trust Company v. Aisling Broadcasting of Banner Elk, resulted in the receivership order and eventually the sale to Curtis’s High Country Adventures. It is subject to overbid, with a requirement that such an offer beat Curtis by at least $85K.