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Re: WBOQ sold?

Tax advantges are non-issue in this deal. Basically,
Cox assumes all of Marlin's operating
debt(for the entire company, not just any specific
stations). Cox then sells back 'BOQ and WCCC AM/FM
to Malin at whatever they're valued at the time
of the transaction. Cox ends up with more bank debt
and another station in its Miami cluster while
Marlin stays in the business(at least for now) and
starts off with a clean balance sheet...Marlin did
the same thing with ARS back in 1995....but 'TMI
actually cost more to operate than what it was bringing in.
It's almost 99% definite that Cox is going to change
WTMI's format from classical to something else once
the deal closes. Marlin was about to flip it to rock(
similar to what WCCC/Hartford has) right before the deal
with Cox...'TMI has been bleeding financially for
quite some time now. From what I gather Tanger tried
to keep it classical as long as he could but it's been
losing lots of $$$ in the last few years

--- dan.Strassberg@att.net wrote:
> I saw the item too, but I believe Scott Fybush covered 
> the WBOQ situation in NERW a couple of weeks ago. Marlin 
> is good at structuring deals in which they sell a bunch 
> of peoperties and then take back a few. If I recall 
> correctly, Scott explained how the deal was structured, 
> and it has big tax advantages for Marlin. If Scott 
> didn't write about this deal, maybe I read about it in M 
> Street Journal.
> > I was perusing the FCC actions and applications as I
> > usually do once a week, and I noticed some movement
> > pertaining to Marlin Broadcasting properties, 
> > including WTMI, Miami recently sold for 100-MILL...
> > but along with that transaction, which had already
> > been bruited about here and elsewhere, I saw a 
> > reference to WBOQ in colorful Gloucester, MA being
> > transferred to Cox (the suckers who overpaid for 
> > WTMI probably).  Hey, I thought the Marlin folks 
> > were holding on to the coastal New England properties
> > because they like it here!  Maybe after the April
> > chill we've just experienced (April is the cruellest
> > month after all) they decided enough of this;  off to 
> > Hawaii!  Or was this entry in error;  nah  the 
> > Federal Government never makes a mistake.

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