Brian Brady's Cedar Creek Broadcasting is buying the St. Louis and Columbia, S.C., stations that had fallen into bankruptcy under Roberts Broadcasting.
Cedar Creek Buying WRBU, WZRB For $6M
Brian Brady’s Cedar Creek Broadcasting is paying $6 million for WRBU St. Louis and WZRB Columbia, S.C., stations that had fallen into bankruptcy under Roberts Broadcasting and are currently being run by a liquidating trust, according to FCC filings.
Cedar Creek is paying the $6 million to Ion Media as the sole beneficiary of the trust in the form of no-interest note.
As part of the deal, Cedar Creek entered into an affiliate agreement with Ion to continue broadcasting its programming and it agreed pay Ion to run traffic and master control, maintain the transmission facilities and provide office and studio space at the stations.
The parties made a point of saying the agreements did not run afoul of the FCC duopoly rules.
They “shall not be deemed to constitute ‘joint sales,’ ‘program services,’ ‘time brokerage,’ ‘local marketing’ or similar arrangements or a partnership, joint venture, or agency relationship between the parties,” they said.
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