Jerry Lee Selling More FM Philly

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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  1. The well-known former group owner who bought More FM’s debt two years ago – now he’s forcing the station’s sale.
  2. 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.
  3. There’s a 50/50 chance the deal gets resurrected but here’s the main problem.
  4. What amount Jerry Lee paid for his partner’s ownership.
  5. The sale price of More FM as of this minute.

The answers start here.

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