Wow! Just wow.
From Radio Info.com:
Price: $14 million. Seller Nassau Broadcasting is doing a debt-for-equity swap with lender Goldman Sachs, and the biggest single station in its portfolio is commercial-classical WCRB (99.5), licensed to Lowell, MA. Now Goldman steers it to public radio/TV broadcaster WGBH, which already operates news/classical WGBH-FM (89.7) and WGBH-TV. It’s not yet clear whether WGBH will run it as a non-commercial station, or continue its operation as a commercial station through a subsidiary. Brokers: Patrick Communications for seller Nassau, and Public Radio Capital for buyer WGBH. More about one of 2009’s few big-market deals at Radio Info.com.
More anon as it unfolds. Wow. Just wow. And I thought WGBH was having financial struggles.
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