WFNX

[Dan.Strassberg]

By claiming that he retains title to WFNX's intellectual property and
call sign, Mindich reduces his cost basis in what he has sold. In
other words, he increases his taxable capital gain and therefore his
tax liability. Seems counter-productive to me. Can anyone think of a
financial benefit that will accrue to Mindich as a result of this
strategy?

Seems that Mindich is doing the opposite of what Alex Langer did with
WBIX (now WQOM). As I understand it, Langer sold the station to a
non-profit organization (Holy Family) for $1.5 million and then
donated $0.5 million of that sum back to the non-profit organization,
thus making himself eligible for a tax writeoff for the $0.5 million
that he never received.

-----
Dan Strassberg (dan.strassberg@att.net)
eFax 1-707-215-6367

----- Original Message ----- 
From: "Garrett Wollman" <wollman@bimajority.org>
To: "Bob Nelson" <raccoonradio@gmail.com>
Cc: "Boston Radio Group" <boston-radio-interest@lists.BostonRadio.org>
Sent: Thursday, May 24, 2012 10:23 AM
Subject: WFNX


> <<On Thu, 24 May 2012 04:11:58 -0400, Bob Nelson
> <raccoonradio@gmail.com> said:
>
>> New article in the Phoenix continues to claim he owns the calls (or
>> at
>> least it mentions CC will not have access to the WFNX calls,
>> intellectual property or music library)
>
> There's no reason Clear Channel would have wanted to buy those
> things
> anyway, so I think he's using his lemons to make lemonade.
>
> -GAWollman
>