Tom Taylor on Radio-Info.com reports:
- Keymarket and Forever have received some relief from their lenders Bank of Montreal and Wells Fargo. This in addition to the recent LMA and eventual sale of the 98.3 FM signal (licensed to Duquesne) to Educational Media Foundation. The new deal restructures $30 million and is good through the end of 2013.
- As we illuded to, WAMO-AM/FM (860/106.7) went silent around 6 p.m. yesterday leaving a hole where the urban format used to be. (We’ve received unconfirmed reports that sister 1510 in Monroeville fell silent over the weekend.) The departure was reportedly maked with the airing of the Jackson 5 singing “Never Can Say Goodbye” and BoyzIIMen singing “It’s So Hard to Say Goodbye to Yesterday.” No word on when the new Catholic format (a la Saint Joseph Missions) will take over. Taylor reports that the signals may be dark for some time to come. SJM is paying $8.9 million to Sheridan Broadcasting in a deal made earlier this summer.