Boston’s WCRB Sold to WGBH
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 … Continue Reading