WLFP Braddock sale pending
July 20, 2012Business Talk Radio Network, the Connecticut-based owner of WLFP-AM (1550 Braddock) has a letter of intent to sell the station for $75,000. McKeesport Daily News reporter Patrick Cloonan says the price is a third of the price the station was offered a year ago. Local broker Ray Rosenblum told Cloonan, “Banks are not eager to lend money to broadcasting companies this year as compared to some years ago…” WLFP once served as the company’s flagship for its Lifestyle Talk Radio Network.
Wow… a little over a year on the market and it went for $75,000… Certainly a huge difference in their asking price of $225,000. Besides the license what are the new owners really getting? Anyone know?