And do we ever really see this happen in a radio deal? But just in case, there is a multi-million dollar reason to make sure it does close. Beasley writes in the SEC filing that it expects this merger to close before January 19, 2017.
If Beasley cannot come up with the financing to close the deal, it must pay Greater Media $6.39 Million or $12.78 Million if Beasley cannot close “due to a breach of a representation or covenant such that an applicable condition to closing is not satisfied or Greater Media terminates because Beasley failed to consummate the merger where debt financing was available.
So……why are they doing this deal? The numbers don’t really add up for Beasley? Yikes!