RE: WCCM to be sold...

["'A. Joseph Ross'" <lawyer@world.std.com>]

On Wed, 30 Jul 1997, Roger Kirk wrote:

> >As recently as last week, Mr. Gowdy was nearing an agreement to sell
> >WCCM to Larence auto dealer Charles Daher.
> 
> >Mr. Daher said lawyers >for both parties were reviewing final papers   
> when >Mr. Gowdy reported he had a higher offer for the station.  "I   
> thought we >had a deal", Mr Daher said
> 
> LAWYER QUESTION:  Could you do the same thing when selling your house?   
>  Shouldn't the purchaser of a radio station have a signed P&S agreement?
 
The key here is that Gowdy was "nearing an agreement."  I've never been
involved in the sale of a radio station (Maybe Bob Bittner can speak to
this), but I'd imagine that once an agreement is finalized, there would be
some kind of written sales contract.  It sounds, however, as though the
final contract to sell WCCM to Daher had not yet been consumated.   

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  A. Joseph Ross, J.D.                                          617.367.0468
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