CBS Radio was this close to buying Merlin’s Philly FM as the new FM home for KYW Newsradio.
Then something went very wrong.
Publicly it looks like CBS was outbid, but the real story that you’re about to read is down, dirty and should serve as a warning to good broadcasters trying to operate in a venture capital world.
If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get.
- What pissed Merlin’s Randy Michaels off so much that he played with CBS over the sale of his Philly FM for years and then surprised everyone by selling it to someone else for about the same offer price.
- The reason Michaels held out and then screwed CBS out of the station they badly needed.
- Why CBS said “no more” to what some would call extortion.
- The deal breaker after over a year of negotiating.
- How the potential looming merger of CBS Radio with Cumulus ended up being a factor.
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