WRNJ

[Garrett Wollman]

<<On Sat, 20 Jan 2018 02:03:03 -0500, A Joseph Ross <joe@attorneyross.com> said:

> Why would they be suing Ed Perry?

Because Ed Perry is trying to buy the 1510 license.  You'd probably
know better than the rest of us what they'd have to plead to keep him
as a defendant -- I assume it's something like interfering with their
contract with Daly XXL, maybe claiming that Perry somehow induced Daly
XXL not to go through with the planned auction (which was to include
an assignment of the tower site lease) which "might" have brought in
more cash / left Daly XXL with enough assets to satisfy all of its
obligations.  (I'm assuming, based on the way it went down, that the
auction didn't take place because the broker running it had not
received any expressions of interest in buying the whole station, but
Perry submitted an offer for the license alone.)

One question is whether Daly is actually the party on the lease, or if
Daly sublet the facility from Blackstrap.  That might explain why
Blackstrap was also joined.

Normally, in a situation like this, you might expect Daly XXL's
creditors to file for involuntary bankruptcy.  However, if Daly
actually went into bankruptcy, they could simply reject the lease --
and Duffy surely must know that the site is of no use to anyone other
than 1510.[1]  Furthermore, they must also know that if the station
remains off the air for another six months, its license simply
*evaporates*, poof, by operation of law, and then the most they can
expect is some share of whatever cash or other assets Daly might have.

So my guess would be that they know that their time is up, and they're
hoping to squeeze a few more dollars out of *someone* -- possibly Ed
Perry -- as a price for allowing the transaction to close before the
license expiration clock runs out later this year.  Basically, Daly
XXL and Duffy are playing "chicken".

-GAWollman

[1] Not quite true: it could be used by 1430, 1470, or 1550, but none
of them has an interest in moving and even if they did, there is
absolutely no chance they'd pay the sort of rent that 1510 is
currently on the hook for.