New York City is getting a major major change. This is a news story I bet you won’t hear Al Sharpton leading riots over.
One of the largest “black radio” station owners (Inner City Broadcasting) is in bankruptcy. It was pushed over the edge by Ron Burkle, a close associate of Bill Clinton.
Prior posts on this: http://streamingradioguide.com/startingover/?p=2618
So with the bankruptcy moving forward, Burkle has taken control of the “urban” radio stations. Mr Burkle is rich and white.
Today’s news is that one of the New York City urban stations is being switched to become ESPN FM in New York – a move probably suggesting station was worth 10x as much by not being a “blacks only” station. The existing WPEN-AM will simulcast for now, but eventually become ESPN Deportes, the Spanish language version of ESPN.
If the Koch Brothers took over a “black radio” station in New York City, you know it would not be well received in Harlem.
I have some of the facts wrong. That’s why I get for writing a blog on the iPhone 🙂
The station concerned was not owned by Inner City – it was leased (LMA) from Emmis by Inner City. It’ s Emmis that is taking the station to ESPN and dumping their contract with Inner City. In general during a bankruptcy, suppliers cannot stop doing business with the bankrupt company or take actions that would harm the chance of the company recovering. The “Debtor in Possession” is responsible for paying the bills from the date of the bankruptcy on. Now that the bankruptcy is winding down, the new owners don’t wish to continue to lease the station from Emmis.