"Merlin Media is Not For Sale."
Well-connected Chicago columnist Robert Feder (www.timeoutchicago.com) reported Wednesday that Merlin Media was being shopped around by the investors backing Randy Michaels, GTCR. The Feder story was then picked up and run by most of the other Radio trades yesterday. That claim has been flatly denied by Merlin CEO Randy Michaels. Michaels told Radio Ink yesterday, "Merlin Media is not for sale."
Feder also reported that Michaels is no longer running the day-to-day of the company, that was being handled by former Clear Channel CFO Jerry Kersting. Merlin was formed in July 2011 and has struggled to find its way, most notably the all-news station in Chicago that started out with a lot of fanfare but seemed to die a slow and painful death before flipping to music.
The Merlin Media's properties include: Alternative WRXP (New Rock 101.9) in New York, FM Talk WWIQ (IQ 106.9) Philadelphia and in Chicago, Classic Rock WLUP (97.9 The Loop), Alternative WKQX (Q87.7) and Adult Hits WIQI (i101). Time will tell how the situation plays out with Merlin and Michaels. Due to the connections Feder has in the Chicago community, and the denial from Michaels, Merlin Media continues to be an interesting story, to say the least. We shall see over the next few weeks and months who turns out to be right and who turns out to be wrong.
(12/14/2012 4:16:18 PM) |
Alicia might get me a gig in LA, where I launched magazine XXXXXXXXXXXXXXXXXXXX
|- Larry Mendte|
(9/28/2012 8:17:05 AM) |
Sure, the capital piece of partnerships often shop properties without the operations piece of partnerships delight and/or knowledge. And the operations piece of such partnerships has been k own to shop for new capital partners, too.
People kvetch about monolithic corporate owners & one size fits all corporate programming. Yawn. Then a small operator tries some more interesting things and, what do we do? Get out the daggers. We're really a pathetic lot.
(9/27/2012 10:05:07 PM) |
C'mon.There isn't a management slug in the radio business who hasn't lied and told employees everything is good; only to turn around and dump the property a week later. It seems more common in radio than any other business. Our business is filled with deception and lies.
(9/27/2012 6:21:38 PM) |
I've never known any broadcast ownership to openly declare or confirm their stations are for sale. Presumably the Merlin money folks have to be disappointed with the results to date. The truth likely will come out in the next few weeks.
|- Cliff Hunter|
(9/27/2012 10:17:32 AM) |
At this point in the failed experiment in all three markets....Randy/Ben would be probably the last person to know if the stations were up for sale. Maybe he just isn't looped in anymore. End of an era?
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