The station faces default on its debt that Jerry Lee used in 2006 to buy out his late partner’s ownership in the station.
A deal to purchase More FM blew up about a week ago – details follow.
One way or the other, the station either gets sold or the debt holders take it over.
And Lee is out.
I want all my subscribers to have this because there will be a lot of rumors and assumptions put out there.
These are the undisputed facts.
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If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get.
- The well-known former group owner who bought More FM’s debt two years ago – now he’s forcing the station’s sale.
- An agreement to sell More FM was set to be signed within the past week – here’s details on why the prospective buyer backed out.
- There’s a 50/50 chance the deal gets resurrected but here’s the main problem.
- What amount Jerry Lee paid for his partner’s ownership.
- The sale price of More FM as of this minute.
The answers start here.
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