As Clear Channel continues to sell off a total of 448 of its stations in preparation of the company going private, the latest batch of stations – five in Ashtabula, Ohio – are going to be sold to a new group, Sweet Home Ashtabula.
Chairman Tom Embrescia heads the group and Matt Embrescia will serve as president. In addition, Pat Pout, an investor in the company, will serve as VP and treasurer. Pout is also a former president and vice chair of Banc One/Cleveland.
Minority Media & Telecommunications Council and Kalik & Co brokered the deal; financial terms have not been released. The five stations in the deal include: talk WFUN-AM, classic rock WFXJ-FM, AC WREO, country WYBL and CHR/top 40 WZOO-FM.
A thought I've had -- what, if anything, becomes of the heritage or interesting sets of calls CCU has "parked" in some of these smaller markets that are being spun...?
"I don't know the same things you don't know."
"Yes, you do; you just won't admit it!"
"Yeeee...it looks like a 'Belt Buckle & Ball Cap' convention in here......"
I had an unpleasant experience with Jim Embrescia, and his brother Tom when I worked in Parkersburg. They bought WADC--flipping it to "Music Of Your Life", and the old WIBZ was flipped to WMGP--"Magic"...They did try--even brought in Mike McVay as a consultant, and it was good to work with him in the early days of his consulting business. BUT--some of the people they brought in to run the place just succeeded in driving most of the staff away....I believe they were then called Signal One Communications.
Sweet Home Ashtabula?
