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Equity sells 5 TV stations...well sort of

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Mr Tony

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Nov 17, 2003
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Found this interesting...Equity sold 5 TV stations in SW Florida.....sort of..the bold part is why I say sort of

Equity Media Holdings Corporation - Equity Media Holdings Corporation Announces Sale of Five Television Stations


so basically Equity sold the stations to the CEO of their company
 
I sounds like Equity had to sell the stations to raise cash to meet their current loan requirements. They either couldn't find a buyer or didn't want to sell them to an outside party, so they created a new company to buy them. This should give Equity time to arrange new financing. If successful, they will probably buy the stations back. It appears that the two CEO's have some faith that Equity will survive or they wouldn't risk their own money.
 
heh
Probably just a paper transfer and a lot of hand-waving. -
You know: bought with $8 million worth of Equity stock or something. -
 
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