Colorado Media Newsroom
October 27th, 2023, 12:21 PM
From Radio Insight:
https://radioinsight.com/wp-content/images/2021/11/kexp-200x200.pngThe United States Bankruptcy Court for the District of Nevada has conducted its auction (https://radioinsight.com/headlines/257619/bankruptcy-judge-approves-october-auction-for-ed-stolz-stations/) for the assets owned by Ed Stolz.
The winning bids totaled $6,345,952.88 exceeding the stalking-horse bid of $4.5 million made by VCY America for all but one of the assets. The organization originally had a deal with former trustee Larry Patrick to purchase KFRH, KRCK-FM and KREV for $6 million. After Stolz temporarily regained control of the licenses and had the original deal terminated, VCY made the same $4.5 million offer as part of a deal to drop its $627,366 claim against Stolz? company.
VCY did not come up empty handed as the Christian network was the highest bidder for four of the licenses. VCY’s winning bids were $1,954,219.16 for 104.3 KFRH North Las Vegas NV, $298,281.73 for 97.7 KRCK Mecca/Palm Springs CA, $82,282.46 for 98.1 K251BX Palm Desert CA and $111,169.53 for 95.5 K238AK Palm Desert CA.
Friends of KEXP, which operates AAA 90.3 KEXP (https://www.kexp.org) Seattle look to be in line to return that format to the Bay Area as their bid of $3.75 million was the high for 92.7 KREV Alameda.
Melinda Vega, Kurt Nilson, and Don Davis?s AutoPilot FM, which has been operating KFRH (http://hustle1043.com) and KREV with Hip Hop formats as “Hustle (http://hustle927.com)“, were the winning bidders for Silent 790 KBET Winchester/103.1 K276GX Las Vegas with a $150,000 submission.
Now that the auction has concluded, the winning bidders have until November 7 to designate which leases and contracts they will assume or reject. The judge will grant final approval of the auction winners on November 14.
more (https://radioinsight.com/headlines/260386/kexp-vcy-america-autopilot-fm-to-acquire-stations-from-ed-stolz-auction/)
https://radioinsight.com/wp-content/images/2021/11/kexp-200x200.pngThe United States Bankruptcy Court for the District of Nevada has conducted its auction (https://radioinsight.com/headlines/257619/bankruptcy-judge-approves-october-auction-for-ed-stolz-stations/) for the assets owned by Ed Stolz.
The winning bids totaled $6,345,952.88 exceeding the stalking-horse bid of $4.5 million made by VCY America for all but one of the assets. The organization originally had a deal with former trustee Larry Patrick to purchase KFRH, KRCK-FM and KREV for $6 million. After Stolz temporarily regained control of the licenses and had the original deal terminated, VCY made the same $4.5 million offer as part of a deal to drop its $627,366 claim against Stolz? company.
VCY did not come up empty handed as the Christian network was the highest bidder for four of the licenses. VCY’s winning bids were $1,954,219.16 for 104.3 KFRH North Las Vegas NV, $298,281.73 for 97.7 KRCK Mecca/Palm Springs CA, $82,282.46 for 98.1 K251BX Palm Desert CA and $111,169.53 for 95.5 K238AK Palm Desert CA.
Friends of KEXP, which operates AAA 90.3 KEXP (https://www.kexp.org) Seattle look to be in line to return that format to the Bay Area as their bid of $3.75 million was the high for 92.7 KREV Alameda.
Melinda Vega, Kurt Nilson, and Don Davis?s AutoPilot FM, which has been operating KFRH (http://hustle1043.com) and KREV with Hip Hop formats as “Hustle (http://hustle927.com)“, were the winning bidders for Silent 790 KBET Winchester/103.1 K276GX Las Vegas with a $150,000 submission.
Now that the auction has concluded, the winning bidders have until November 7 to designate which leases and contracts they will assume or reject. The judge will grant final approval of the auction winners on November 14.
more (https://radioinsight.com/headlines/260386/kexp-vcy-america-autopilot-fm-to-acquire-stations-from-ed-stolz-auction/)