In a January 4 filing with the SEC, Lew Dickey has asked his stockholders to give him more time to “consummate a business combination,” for his company, Modern Media Acquisition. The deadline is Februay 17 and Dickey is asking that date be extended to June 17.
Dickey has invited his stockholders to attend a meeting in February to vote on the extension request and discuss other items. Read the entire document HERE.
The former long-time Cumulus CEO has been saying for several years now that he’s planning to launch a media company. That may or may not involve radio.
Lew getting back into the media game, radio pushing for more deregulation, and groups still trying to shed unwanted debt from their idiotic purchasing…why do I get the idea that radio hasn’t learned squat from it’s past failures? Is this 1996 all over again? However if everyone in the industry keeps chanting that 93% of the population still listens to radio and we all close our eyes then maybe the boogyman (aka…continued declining revenues and lack of innovation/local programming) will go away and we can all go back in time to the 80’s when radio was good.
This story seems like it should be in The Onion. Anyone giving Lew Dickey money to buy radio stations, clearly has not done their homework on what Dickey did to Cumulus. And before Dickey ruins more lives at radio stations or other media companies, can’t someone convince him to do something else? Like maybe go golfing?!
Well heck guys … If that’s all it takes to get my mug on the front page of Radio INK, then I think I’ll announce that I’ve had similar plans for many years too. I just need more time; probably another lifetime.