CXR Tells MB Trust Stations Could Be Sold in First-Half 2022
CXR Radio Station Trust anticipates being able to sell the two stations it holds in the first half of 2022, it told FCC Media Bureau Chief Michelle Carey in a call last week, per a filing posted in docket 19-98…
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Monday. The stations were to be divested by Dec. 17 as part of the Terrier/Cox deal; CXR recently sought delay (see 2111230057). “Given the uncertainty of the current times, CXR initially requested the year’s extension,” the filing said. CXR wants the extra time to establish an online “dataroom” for prospective bidders, allow them to review the information and radio market, and conduct a bidding process, the filing said. “A rushed process with a very short deadline will undermine the ability of interested parties to meaningfully participate in the process,” and disproportionately discourage smaller buyers, it said.